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(516/517) Selected Interest & Exchange Rates Weekly Series of Charts December 11,1989 DIVISION OF INTERNATIONAL FINANCE Prepared by the FINANCIAL MARKETS SECTION BOARD OF GOVERNORS FEDERAL RESERVE SYSTEM Washington, DC. 20551 Table of Contents TABLES 1. LATEST FIGURES PLOTTED 2. DAILY CERTIFIED SPOT E X C H A N G E RATES— H.10 RELEASE CHARTS 1 SPOT EXCHANGE RATE INDICES 2 3 - M O N T H FORWARD EXCHANGE RATES 3. GOLD P R I C E - L O N D O N 4. CALL MONEY RATES 5. 3 - M O N T H INTEREST RATES 6 EURO-DOLLAR DEPOSIT RATES 7. SELECTED EURO-DOLLAR A N D U.S. MONEY MARKET RATES 8. INTEREST ARBITRAGE: 3-MONTH FUNDS 9. LONG-TERM G O V E R N M E N T BOND YIELDS 10 INDUSTRIAL STOCK INDICES SUBSCRIPTION RATES: Weekly $24.00 per year or $.60 each in the United States, its possessions, Canada, and Mexico; 10 or more of the same issue to one address. $22.50 per year or $.55 each. Elsewhere. $30.00 per year or $ 70 each. Address requests to P u b l i c a t i o n s Services. Division of Administrative Services, and make payment remittance payable to the order of the Board of Governors of the Federai Reserve System m a form collectible at par in U.S. Currency. CHART 1 SPOT EXCHANGE INDICES DOLLAR PRICES OF FOREIGN CURRENCIES AND WEIGHTED AVERAGE VALUES (THIN LINE) AVERAGES FOR WEEK ENDING WEDNESDAY SCALE 41973=100 140 120 RATIOS MARCH 197: 1=100 140 FOREIGN CURRENCY PRICE OF U.S. DOLLAR BELGIAN FRANC 120 100 100 90 90 80 80 70 70 280 280 240 SWISS FRANC JAPANESE YEN — 240 200 200 180 180 160 - 140 140 120 I I I I I I iiIiiliiIii 120 100 100 CANADIAN DOLLAR 90 80 160 90 U.K. POUND 80 70 70 60 60 50 50 200 180 — - DUTCH GUILDER GERMAN MARK - 160 180 160 V v 140 120 __ 140 120 I 100 I I I I I 100 120 60 ITALIAN LIRA 100 90 200 50 FRENCH FRANC 45 80 40 70 35 60 30 50 25 1987 1989 1987 1989 CHART 2 3-MONTH FORWARD EXCHANGE RATES PREMIUM (+) OR (-) AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER ANNUM PERCENT PER ANNUM 4 4 U. K. POUND CANADIAN DOLLAR /V l l l I I ^ — " Z ~ W \ I I I I I I I I I I I I I I I I FRENCH FRANC 4 I I I I I I III I ill ill I DUTCH GUILDER SWISS FRANC I I JAPANESE YEN GERMAN MARK I I - I I I I I ITALIAN LIRA jr 12 12 1987 1989 1987 1989 CHARTS PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY U.S. 1LARS PER FINE OUNCE U.S. DOLLARS PER FINE Oi 520 520 500 500 12.5 Kg BARS AFTERNOON FIXING PRICE 480 480 460 460 440 440 420 420 400 400 380 380 360 360 340 340 320 320 i 300 1986 1987 i I i i I 1988 i i I i i I i i I i i I 1989 i i I i 300 CHART4 CALL MONEY RATES WEEKLY SERIES PERCENT PER ANI iENT PER ANNUM 16 16 12 U.S. FEDERAL FUNDS 12 FRANCE 8 8 JAPAN 4 4 0 I I I I I I I 0 I I III III I I I 16 16 CANADA 12 12 8 GERMANY 8 4 4 0 0 16 20 UNITED KINGDOM SWITZERLAND 16 12 12 8 8 4 4 NETHERLANDS Jil 0 1987 1989 0 1987 1989 CHART 5 3-MONTH INTEREST RATES WEEKLY SERIES PERCENT PER AW ENT PER ANNUM 12 12 FRENCH INTERBANK RATE 10 10 U.S. CD'S 8 8 6 6 WEIGHTED AVERAGE FOREIGN RATE 4 4 H 2 2 16 16 14 14 - U.K. INTERBANK STERLING CANADIAN FINANCE CO. PAPER 12 f - , 12 10 10 8 - I 6 I I I I I : 6 ' 8 8 6 i 8 SWISS INTERBANK RATE JAPANESE GENSAKI RATE 6 4 4 2 2 0 0 10 10 NETHERLANDS INTERBANK RATE 8 6 f - GERMAN INTERBANK RATE 6 4 4 I 2 8 1987 1989 I I I I 1987 2 I 1989 CHART 6 EURO-DOLLAR DEPOSIT RATES LONDON AVERAGES FOR WEEK ENDING WEDNESDAY SENT PER ANNUM PERCENT PER ANI 14 12 14 OVERNIGHT 3-MONTH 12 10 10 8 8 6 6 4 4 14 14 12 7-DAY 6-MONTH — — 12 10 10 8 8 6 6 4 I I I I I I i l l ii h i l i i 14 12 4 14 1-MONTH 1-YEAR 12 10 10 8 8 6 6 4 4 1987 1989 1987 1989 CHART7 SELECTED EURO-DOLLAR AND U.S. MONEY MARKET RATES DIFFERENTIAL: PLUS(+),FAVORS BORROWING IN U.S. AVERAGES FOR WEEK ENDING WEDNESDAY ft PERCENT PER ANNUM iENT PER ANNUM 14 14 12 12 10 10 3-MONTH EURO-DOLLAR DEPOSITS FEDERAL FUNDS DASHED LINE 8 \j? 6 V ^ OVERNIGHT EURO-DOLLAR DEPOSITS V 90-DAY CD S DASHED LINE 4 — I 2 I I I I I I I I I I I I I I I I I I I I I I I - I I I I I I I I I I I I I I I I I 11111111111 I I I I I I I I I I I I I I I I I I I I I I I I 2 DIFFERENTIAL DIFFERENTIAL 1 + 0 1 I I M I M I M I M I I I I I I I M I M 1987 PERCENT ON DIFFERENTIAL SCALE = 2 PERCENT ON RATE SCALE 1989 I I I I 1987 1989 CHARTS INTEREST ARBITRAGE: 3-MONTH FUNDS DIFFERENTIAL: PLUS(+), INDICATES FAVOR DOLLAR ASSETS AVERAGES FOR WEEK ENDING WEDNESDAY iENTPER ANNUM PERCENT PER AW 16 12 16 12 CANADIAN FINANCE CO. PAPER, COVERED INTERBANK STERLING COVERED LONDON 8 4 8 EURO-DOLLAR DEPOSITS DASHED LINE 0 I I I U.S. COMMERCIAL PAPER DASHED LINE 4 iliiIiiliiliiIiiliilii l l I ll i l l ll II l u l l l l l l l II 2 2 DIFFERENTIAL DIFFERENTIAL + + 0 0 2 I I IIlllllI I I I I I 11 I I I 11111 i l l 11111 I I I I 16 12 0 2 16 12 INTERBANK DM COVERED FRANKFURT SWISS INTERBANK (SF) COVERED 8 8 4 EURO-DOLLAR DEPOSITS DASHED LINE 0 J I I I M I I III I I I III I I III I I I I III I I I EURO-DOLLAR DEPOSITS DASHED LINE 4 I 0 I I I I I I M I ll I I I II I I I I I I I I I I I I 2 2 DIFFERENTIAL DIFFERENTIAL + 0 + 0 I 2 I 1987 I I I I I I M I I I I ll I I I I ll I I I I I I 1989 I PERCENT ON DIFFERENTIAL SCALE = 2 PERCENT ON RATE SCALE I I I I I I I 1987 I ill I I III III III I I 1989 2 CHART9 LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES PERCENT PER ANI SENT PER ANNUM 14 14 - UNITED STATES 12 CANADA 12 \ 10 » / v \ y W r ^ V X „ 8 8 I 6 I I I I 6 I 14 14 12 10 8 „ UNITED KINGDOM - V v/v 6 I I I I I I \ V - FRANCE 12 tfr -V v A > / / V I ii li H i l l n I I 10 8 1 1 1 6 10 10 8 10 __ SWITZERLAND - __ JAPAN - 8 6 6 4 4 I 2 I I I I I I I IIIIIIIIII I I I I I IlllIlllllI 10 8 10 NETHERLANDS MONTHLY - - GERMANY - 6 8 6 4 2 2 - I I I I I 1987 I - I 1989 I I I I 1987 I 4 2 1989 CHART 10 INDUSTRIAL STOCK INDICES WEEKLY SERIES RATIO SCALE 1969-100 RATIO SCALE 1969-100 600 500 - - UNITED STATES 400 300 200 - y w — a^.yV\z I — - — 150 NETHERLANDS i i i i i i Illllllllll 800 JAPAN GERMANY 600 - 500 - — 400 - Ax / - 300 - / 200 - I I I I I I Illllllllll 300 SWITZERLAND 250 FRANCE 200 - 150 - - 100 I I I I I I Illllllllll 600 500 - CANADA 400 ' y i 300 200 UNITED KINGDOM I I I f 1 1 1 1987 1989 1987 1989 S E M E S HAHE CHA8T 1 . LAST VALUE PLOTTED DATE VALUE SPOT EXCHANGE BATES A I D IHDXCES HEEKLY AVERAGES, HOON BOYIHG BATES ( 0 . S . CEHTS) GEBflAM BASK JAPANESE YES DUTCH GUILDEE 0 . 1 . POUHD CA1AD1AM DOLLAR PBEICH FBAHC SWISS FBAHC BELGIAN FBAHC ITALIAN LISA SWEDISH KBOHA DEC. DECDEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. 6 6 6 6 6 6 6 6 6 6 56.27 0.69712 49.87 156.92 85.94 16.48 62.81 2.67927 0.07632 15.69 DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. 6 6 6 6 6 6 6 6 6 158.28 182.53 1 * 3 . 16 63.47 85.66 7 4 . 27 202.07 1 0 5 . 58 43.35 6 6 6 6 6 6 6 6 6 6 6 96.31 1 6 7 . 19 189.79 142.21 58.60 81.98 69.45 200.03 102.67 39.40 66.56 6 6 6 6 6 6 6 6 -3.67 -6.38 0.18 -2.10 0.37 -0.13 1.85 INDICES, EABCH 1973 BASE BATES = 100 GEBHAH HABK JAPANESE I E N DUTCH GOILDEB U . K . POOHD CANADIAN DOLLAB FBEHCH FBAHC SBISS FBAHC BELGIAN FBAHC ITALIAN LIBA 1SIGHTED A T A G E EXCHANGE VALUE I N D I C E S , HAB 1973 = 100 ( G - 1 0 CODNTBIES PLUS SUTHERLAND) 0. S. DOLLAB GEBHAH HABK JAPANESE YEN DUTCH GOILDEB 0 . K. POOHD CAHADIAH DOLLAB FBEHCH FBAHC SWISS FBAHC BELGIAN FBAHC ITALIAH LIBA SHED I S H KBOHA CBABT 2 . DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. 3-MOHTH F0B8ABD EZCHAIGE BATES, PBEHXUH OB DISCOUHT CAHADI AH DOLLAB O . K . POOHD GEBHAH HABK FBEHCH FBAHC SWISS FBAHC DUTCH GOILDEB JAPAHESE YEN ITALIAH LIBA DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. -4.47 LAST VALUE PLOTTED DATE VALUE SERIES IAHE CHART 3 . GOLD PRICE 1 8 LOSDON, AFTERHOO* F I X I N G U.S. CHART 4 . DOLLARS PER P I K E OOBCE DEC. 6 407.44 DEC, DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. 6 6 6 6 6 6 6 6 6 8 . 52 8.45 1 4 . 81 12.20 7.72 6.16 9.98 8.27 6.88 DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. 6 6 6 6 6 6 6 6 6 8.24 8.09 5.77 12.33 15. 14 7.72 10.55 8.41 9 . 65 DEC. DEC. DEC. DEC. DEC. DEC. 6 6 6 6 6 6 8 . 45 8.44 8.60 8.34 8 . 10 8.04 8 . 45 8.52 CALL H O * E I RATES U . S . FEDERAL FU8DS OVERSIGHT EURO-DOLLAR DEPOSITS O.K. CANADA GERMANY JAPAN FRANCE NETHERLANDS SWITZERLAND CHART 5 . 3-HOHTH INTEREST BATES U . S . 90-DAY C D ' S , SECONDARY HARKET GERMAN INTERBANK LOAN JAPANESE GENSAKI RATE CANADIAN FINANCE PAPER INTERBANK STERLING SHISS INTERBANK LOAN FRENCH INTERBANK RATE NETHERLANDS INTERBANK RATE WEIGHTED AVERAGE FOREIGN INTEREST RATE ( G - 1 0 COUNTRIES PLUS SWITZERLAND) ' CHART 6 . EURO-DOLLAR DEPOSIT RATES: LONDON OVERNIGHT 7-DAY 1 - 8 0 NTH 3-HONTH 6-HONTH 1-YEAR . SELECTED EURO-DOLLAR AND U . S . HONEY HARKET RATES OVERNIGHT EURO-DOLLAR DEPOSITS U . S . FEDERAL FUNDS DIFFERENTIAL DEC. DEC. DEC. 6 6 6 -o.Gfe 3-HONTH EURO-DOLLAR DEPOSIT RATE U . S . 90-DAY C D ' S , SECONDARY HARKET DIFFERENTIAL DEC. DEC. DEC. 6 6 6 8.34 8.24 0.10 SERIES IARB CHIHI 8 . LAST VALUE DATE PLOTTED VALUE INTEREST ARBITRAGE* 3 - E O I T H FUNDS EORO-DOLLAR DEPOSIT INTERBANK STERLING (LONDON), COVERED DIFFERENTIAL DSC. DEC. DEC. 6 6 6 8.34 8.52 -0.17 O . S . COMMERCIAL PAPER CANADIAN F I I A N C B PAPER, COVERED DIFFERENTIAL DEC. DEC. DEC. 6 6 6 8.25 8 . 55 -0.30 EORO-DOLLAR DEPOSIT INTERBANK Dfl (FRANKFORT), COVERED DIFFERENTIAL DEC. DEC. DEC. 6 6 6 8.34 8.27 0.07 EURO-DOLLAR DEPOSIT S9ISS INTERBANK, COVERED DIFFERENTIAL DEC. DEC. DSC. 6 6 6 8.34 8.06 0 . 28 1 DEC. DEC. 1 DEC. 1 DEC. NOV. 2 4 NOV. 24 SEPT. DEC. 1 7 . 85 7.42 5.66 5.50 9.67 9 . 62 7 . 23 9.85 CHART 9 . LONG TERM GQVERMENT BOND IIELDS UNITED STATES GERMANY JAPAN SWITZERLAND CANADA FRANCE NETHERLANDS (MONTHLY) UNITED KINGDOM O.S. CORPORATE AAA BOHDS CHABT 10. HAY 9.33 STOCK INDICES UNITED STATES 0NITED KINGDOM CANADA GERMANY SWITZERLAND NETHERLANDS FRANCE JAPAN DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. 6 6 6 6 6 6 6 6 368.39 408.90 391.39 299.11 2 5 8 . 17 355.40 545.99 760.30 FEDERAL RESERVE statistical release H.10(512) December 1 1 , 1989 FOREIGN EXCHANGE RATES FOR THE WEEK ENDING DECEMBER 8 , 1989 The Board of Governors of the Federal Reserve System is advised that the Federal Reserve Bank of New York has certified for customs purposes the following noon buying rates in New York City for cable transfers payable in foreign currencies: COUNTRY MONETARY UNIT •AUSTRALIA AUSTRIA BELGIUM CANADA CHINA,P.R. DENMARK FINLAND FRANCE GERMANY GREECE HONG KONG INDIA *1RELAND ITALY JAPAN MALAYSIA NETHERLANDS *NEW ZEALAND NORWAY PORTUGAL SINGAPORE SOUTH AFRICA SOUTH KOREA SPAIN SRI LANKA SWEDEN SWITZERLAND TAIWAN THAILAND •UNITED KINGDOM DOLLAR SCHILLING FRANC DOLLAR YUAN KRONE MARKKA FRANC D. MARK DRACHMA DOLLAR RUPEE POUND LIRA YEN RINGGIT GUILDER DOLLAR KRONE ESCUDO DOLLAR RAND WON PESETA RUPEE KRONA FRANC DOLLAR BAHT POUND MEMO: HtUNITED STATES DOLLAR Dec. 4 (CURRENCY UNITS PER DOLLAR) Dec. 6 Dec. 5 Dec. 7 Dec. 8 78.090 12.543 37.390 1.1646 3.7314 6.9080 4.2000 6.0820 1.7810 163.40 7.8150 16.980 147.95 1312.50 143.58 2.7070 2.0090 58.950 6.8130 155.27 1.9485 2.6020 675.60 114.90 40.018 6.3810 1.6000 26.150 25.830 156.35 78.150 12.530 37.350 1.1631 3.7314 6.9075 4.1950 6.0700 1.7770 163.65 7.8145 16.960 148.30 1310.00 143.80 2.7070 2.0049 59.170 6.8100 155.20 1.9470 2.5920 675.90 114.85 40.018 6.3740 1.5900 26.198 25.830 157.06 78.310 12.445 37.070 1.1607 3.7314 6.8900 4.1790 6.0320 1.7660 162.82 7.8150 16.950 149.00 1304.50 143.85 2.7055 1.9932 59.250 6.7700 154.45 1.9410 2.5780 676.20 114.16 40.018 6.3470 1.5865 26.050 25.830 157.65 78.160 12.480 37.230 1.1627 3.7314 6.8820 4.1890 6.0580 1.7727 162.15 7.8145 16.940 148.85 1307.50 144.32 2.7070 2.0005 59.380 6.7920 154.75 1.9345 2.5890 676.10 114.40 40.018 6.3560 1.5925 26.040 25.830 157.50 78.250 12.488 37.250 1.1617 3.7314 6.8975 4.1900 6.0605 1.7722 162.69 7.8140 16.940 148.45 1306.50 144.28 2.7060 1.9999 59.350 6.8000 154.70 1.9345 2.5940 676.00 114.53 40.018 6.3650 1.5980 26.105 25.840 157.42 96.51 96.33 95.92 96.21 96.22 *VALUE I S U . S . CENTS **INDEX OF WEIGHTED AVERAGE EXCHANGE VALUE OF U.S. DOLLAR AGAINST CURRENCIES OF OTHER G-10 COUNTRIES. MARCH 1973 = 100. WEIGHTS ARE 1972-76 GLOBAL TRADE OF EACH OF THE 10 COUNTRIES. SERIES REVISED AS OF AUGUST 1978. FOR DESCRIPTION AND BACK DATA, SEE "INDEX OF THE WEIGHTED-AVERAGE EXCHANGE VALUE OF THE U.S. DOLLAR: REVISION" ON PAGE 700 OF THE AUGUST 1978 FEDERAL RESERVE BULLETIN.
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