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w (516/517) DATA F H f Selected Interest & Exchange Rates Weekly Series of Charts December 14,1987 INTERNATIONAL FINANCE Prepared by the FINANCIAL MARKETS SECTION BOARD OF GOVERNORS FEDERAL RESERVE SYSTEM Washington, D C. 20551 o Table of Contents * TABLES SUBSCRIPTION RATES: 1. LATEST FIGURES PLOTTED Weekly $15.00 per year or $.40 each in the United States, its possessions, Canada, and Mexico; 10 or more of the same issue to one address, $13.50 per year or $.35 each. Elsewhere, $20.00 per year or $.50 each. Address requests to Publications Services, Division of Administrative Services, and make payment remittance payable to the order of the Board of Governors of the Federal Reserve System in a form collectible at par in U.S. Currency. 2. DAILY CERTIFIED SPOT EXCHANGE RATES-H.10 RELEASE CHARTS 1. SPOT EXCHANGE RATE INDICES 2. 3-MONTH FORWARD EXCHANGE RATES 3. GOLD PRICE-LONDON 4. CALL MONEY RATES 5. 3-MONTH INTEREST RATES 6. EURO-DOLLAR DEPOSIT RATE& 7. SELECTED EURO-DOLLAR AND U.S. MONEY MARKET RATES 8. INTEREST ARBITRAGE: 3-MOITTH FUNDS 9. LONG-TERM GOVERNMENT BOND YIELDS 10. INDUSTRIAL STOCK INDICES CHART 1 SPOT EXCHANGE INDICES DOLLAR PRICES OF FOREIGN CURRENCIES AND WEIGHTED AVERAGE VALUES (THIN LINE) AVERAGES FOR WEEK ENDING WEDNESDAY RATIO SCALE MARCH 1 9 7 3 = 1 0 0 RATIO SCALE MARCH 1 9 7 3 = 1 0 0 FOREIGN CURRENCY PRICE OF U.S. DOLLAR ITALIAN LIRA 200 180 JAPANESE YEN GERMAN MARK 160 - 140 120 I I I I I I I 100 80 160 140 DUTCH GUILDER CANADIAN DOLLAR 120 100 90 80 - I I I 60 90 80 — U.K. POUND FRENCH FRANC - 70 70 60 - i BELGIAN FRANC 1985 1 1 1 1 i i SWISS FRANC 1987 1985 1987 50 CHART 2 3-MONTH FORWARD EXCHANGE RATES PREMIUM (+) OR (-) AVERAGES FOR WEEK ENDING WEDNESDAY CENT PER ANNUM PERCENT PER Af 4 JAPANESE YEN CANADIAN DOLLAR + 0 A— 4 8 I I 4 I I I I I I I I I I lllllhlhl — U. K POUND SWISS FRANC + 0 J 4 8 I I 8 I I I I — 11111111111 I GER MAN MARK I I I I I DUTCH GUILDER 4 — 0 4 I I I I I I I l l nhihihi iiliihihi 4 FRENCH FRANC ITALIAN LIRA 0 4 8 12 1985 1987 1985 1987 CHART 3 PRICE OF GOLD IN LONDON A V E R A G E S F O R W E E K ENDING W E D N E S D A Y U.S. DOLLARS PER FINE OUNCE U.S. DOLLARS PER FINE OUNCE 500 500 480 480 460 440 440 12.5 Kg BARS AFTERNOON FIXING PRICE 420 400 400 360 360 340 340 320 320 300 300 280 - 280 260 1984 1985 1986 1987 CHART 4 CALL MONEY RATES WEEKLY SERIES INT PER ANNUM PERCENT PER Ah 16 FRANCE 12 U. S. FEDERAL FUNDS 8 4 JAPAN 0 16 CANADA 12 8 GERMANY 4 I I I III I I I 0 16 UNITED KINGDOM SWITZERLAND 12 8 4 NETHERLANDS 0 1985 1987 1985 1987 V CHART 5 3-MONTH INTEREST RATES WEEKLY SERIES PERCI PERCENT PER ANNIUM PER ANNUM 16 — 14 CANADIAN FINANCE CO. PAPER U.S. CD'S 12 14 12 - 10 10 8 6 WEIGHTED AVERAGE FOREIGN RATE 8 I 4 I I I I I I I I I I I I 6I I I I — 16 - FRENCH INTERBANK RATE U.K. INTERBANK STERLING 14 - 12 10 12 8 10 I 8 I I I I 6 I 10 10 NETHERLANDS INTERBANK RATE 8 14 - 8 GERMAN INTERBANK RATE 6 6 4 4 2 I I I II,: I I I I I I I I I I I I I 2I I I I 8 10 8 SWISS INTERBANK RATE JAPANESE GENSAKI RATE 6 A . . s/wvvs/y 4 2 I 1985 1987 I I I I 1985 I 0 1987 CHART 6 EURO-DOLLAR DEPOSIT RATES LONDON AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER ANNUM PERCENT PER ANNUM 14 14 3-MONTH OVERNIGHT - 12 10 8 - r) \ - [YA - - V 4 I I I I I I Mini lllllllllll I l l ' I I I 1985 1987 1985 8 iihiliilii 4 1-YEAR 1-MONTH 10 6 6-MONTH 7-DAY - - - - 12 \ t u A , > v V 6 - 1987 CHART 7 SELECTED EURO-DOLLAR AND U. S. MONEY MARKET RATES DIFFERENTIAL: PLUS(+), FAVORS BORROWING IN U. S. AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER ANNUM PERCENT PER ANNUM 90-DAY CD' S FEDERAL FUNDS DASHED LINE DASHED LINE <r 3-MONTH OVERNIGHT EURO-DOLLAR DEPOSITS EURO-DOLLAR DEPOSITS DIFFERENTIAL DIFFERENTIAL 1985 1 PERCENT ON DIFFERENTIAL SCALE = 2 PERCENT PERCENT ON ON RATE RATE SCALE SCALE 1987 1985 1987 CHART 8 INTEREST ARBITRAGE: 3-MONTH FUNDS DIFFERENTIAL: F L U S H , INDICATES FAVOR DOLLAR ASSETS AVERAGES FOR WEEK ENDING WEDNESDAY PER :NT PER ANNUM PERCENT PER AN 18 14 CANADIAN FINANCE CO. PAPER, COVERED INTERBANK STERLING COVERED LONDON 10 EURO-DOLLAR DEPOSITS 6 DASHED LINE U. S. COMMERCIAL PAPER DASHED LINE 2 I I l l l i 1 I ilii 2 DIFFERENTIAL DIFFERENTIAL + 0 I 2 I I I I I I I I I 18 14 INTERBANK DM SWISS INTERBANK (SF) COVERED COVERED FRANKFURT 10 6 2 EURO-DOLLAR DEPOSITS EURO-DOLLAR DEPOSITS DASHED LINE I I I DASHED LINE I I I 2 DIFFERENTIAL DIFFERENTIAL 0 I 2 I 1985 11 1987 PERCENT ON DIFFERENTIAL SCALE = 2 PERCENT ON RATE SCALE 1985 1987 CHART 9 LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES PERCENT PER ANNUM PERCENT PER ANNUM 16 16 — CANADA UNITED STATES 14 - - 12 10 KJ - - 6 I I I I I I I I II I I I I II I I I I I I I II I II 11111111111 I — 14 - 12 - 10 - 8 ,,|| , hill I 6 10 14 UNITED KINGDOM - 12 10 ' I I V I ^ v v - I I XJ% JAPAN - - 8 - 6 4 - I I I I I I I 11111111111 I l l M i l l I I I GERMANY SWITZERLAND . 1 1 1 U. S. CORPORATE MONTHLY FRANCE Aaa BONDS NETHERLANDS MONTHLY 1985 1987 2 10 — 1985 1987 CHART 10 INDUSTRIAL STOCK INDICES WEEKLY SERES iCALE RATIO 196 00 500 400 300 200 100 I I I I I I I I II I I I I I I I I I I I I I 050 550 - - 450 350 1- - FRAWGE J 250 150 M I I I II I I II I I i l ii l u l l i l u l 500 SWITZERLAND 400 A/v - t 300 200 ii i i r i i i.lnl.III. III.III.Ill 500 400 NETHERLANDS W 300 | - 200 100 I I I I I 1985 I I I I I I I I 11 I 1 II111111111 1987 1985 1987 SERIES NAME LAST VALUE PLOTTED DATS VALUE CHART 1. SPOT EXCHANGE BATES AMD INDICES WEEKLY AVERAGES, NOON BUYING BATES (U.S. CENTS) GERMAN MARK JAPANESE YEN DUTCH GUILDER 0. K. POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC BELGIAN FRANC ITALIAN LIRA SWEDISH KRONA DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. 9 9 9 9 9 9 9 9 9 9 60. 00 0- 75339 53.33 179.93 76. 33 17. 69 73. 36 2.87011 Q. 08141 16.56 DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. 9 9 9 9 9 9 9 9 9 168.79 197. 26 153. 10 72.78 76.07 79.71 236. 02 113. 10 46. 24 9 9 9 9 9 9 9 9 9 9 9 90.50 170.28 195.98 145.00 64.57 68.43 71. 15 223. 15 104.80 4Q.06 66.92 INDICES, MARCH 1973 BASE RATES = 100 GERMAN MARK JAPANESE YEN DUTCH GUILDER U. K. POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC BELGIAN FRANC ITALIAN LIRA WEIGHTED AVERAGE EXCHANGE VALUE INDICES, MAR 1973 (G-10 COUNTRIES PLUS SWITZERLAND) U.S. DOLLAR GERMAN MARK JAPANESE YEN DUTCH GUILDER U.K. POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC BELGIAN FRANC ITALIAN LIRA SWEDISH KRONA 100 DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. CHART 2. 3-MONTH FORWARD EXCHANGE RATES, PREMIUM OR DISCOUNT CANADIAN DOLLAR U.K. POUND GERMAN MARK FRENCH FRANC SWISS FRANC DUTCH GUILDER JAPANESE YEN ITALIAN LIRA DEC. DEC. DEC. DEC. DEC. DEC. DECDEC. 9 9 9 9 9 9 9 9 - 1. 14 -0.71 4.28 -1.03 4.01 3. 17 3.51 -3. 20 SERIES NAME LIST VALUE PLOTTED DATE VALUE CHART 3. GOLD PB1CE IN LONDON, AFTERNOON FIXING U.S. DOLLARS PER FINE OUNCE DEC. 9 485.40 DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. 9 9 9 9 9 9 9 9 9 6.84 6.74 8.41 8.00 3.07 3.71 8. 09 4.45 1.00 DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. 9 9 9 9 9 9 9 9 9 7.64 3. 57 3.90 9.03 8. 55 3.63 8.38 4. 63 5. 97 DEC. DEC. DEC. DEC. DEC. DEC. 9 9 9 9 9 9 6.74 6.83 8.04 7.84 7.85 8.05 CHART 4. CALL MONEY RATES U.S. FEDERAL FUNDS OVERNIGHT EURO-DOLLAR DEPOSITS U. K. CANADA GERMANY JAPAN FRANCE NETHERLANDS SWITZERLAND CHAST 5. 3-MOMTH INTEREST RATES U.S. 90-DAY CD'S, SECONDARY MARKET GERMAN INTERBANK LOAN JAPANESE GENSAKI RATE CANADIAN FINANCE PAPEfi INTERBANK STERLING SWISS INTERBANK LOAN FRENCH INTERBANK BATE NETHERLANDS INTERBANK RATE WEIGHTED AVERAGE FOREIGN INTEREST RATE (G-10 COUNTRIES PLOS SWITZERLAND) CHART 6. EURO—DOLLAR DEPOSIT RATES: LONDON OVERNIGHT 7-DA I 1-MO NTH 3-MO NTH 6-MONTH 1-YEAR CHART 7. SELECTED EURO-DOLLAS AND U.S. MONEY MARKET RATES OVERNIGHT EURO-DOLLAR DEPOSITS U.S. FEDEBAL FUNDS DIFFERENTIAL DEC. DEC. DEC. 9 9 9 6.74 6.84 -0. 10 3-MONTH EURO-DOLLAR DEPOSIT RATE U.S. 90-DAY CD'S, SECONDARY MARKET DIFFERENTIAL DEC. DEC. DEC. 9 9 9 7. 84 7.64 0.20 SERIES NAME LAST VALUE PLOTTED DATE VALUE CHABT 8. INTEREST ARBITRAGE, 3-MONTH FUNDS EURO-DOLLAR DEPOSIT INTERBANK STEELING (LONDON), COVERED DIFFERENTIAL DEC. DEC. DEC. 9 9 9 0.01 U.S. COMMERCIAL PAPER CANADIAN FINANCE PAPER, COVERED DIFFERENTIAL DEC. DEC. DEC. 9 9 9 7.52 7. 87 -0.35 EUBO-DOLLAR DEPOSIT INTEBBANK DM (FRANKFORT), COVERED DIPFEBENTIAL DEC. DEC. DEC. 9 9 9 7. 84 7. 88 -0.05 ED BO-DOLLAR DEPOSIT SWISS INTERBANK, COVERED DIFFERENTIAL DEC. DEC. DEC. 9 9 9 7. 84 7.67 7.84 7.82 a-17 CHART 9. LONG TERM GOVERMENT BOND YIELDS UNITED STATES GERMANY JAPAN SWITZERLAND CANADA FRANCE NETHERLANDS (MONTHLY) UNITED KINGDOM DEC. 4 DEC. 4 NOV. 27 NOV. 27 NOV. 13 DEC. 4 OCT. DEC. 4 8.98 5. 89 4.44 3.99 10-21 10.46 7. 05 9. 09 U.S. CORPORATE AAA BONDS CHART 10. 9.33 STOCK INDICES UNITED STATES UNITED KINGDOM CANADA GERMANY SWITZERLAND NETHERLANDS FRANCE JAPAN MAY NOV. NOV. NOV. NOV. NOV. NOV. NOV. NOV. 25 25 25 25 25 25 25 25 258. 58 289.35 299.91 193.45 165.44 202.62 304.19 503.27 FEDERAL RESERVE statistical release H.10(512) DECEMBER 11, 1987 FOREIGN EXCHANGE RATES FOR THE WEEK ENDING DECEMBER 11, 1987 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 *NEH 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: SUNITED STATES DOLLAR DEC. 7 (CURRENCY UNITS PER DOLLAR) DEC. 8 DEC. 9 DEC. 10 DEC. 11 69.72 11.770 34.920 1.3112 3.7314 6.4550 4.1080 5.6670 1.6715 131.800 7.7870 13.0000 159.20 1231.50 132.80 2.5035 1.8810 63.700 6.4840 136.150 2.0352 50.60 799.30 112.900 30.568 6.0500 1.3665 29.370 25.390 179.40 69.83 11.749 34.880 1.3097 3.7314 6.4370 4.1050 5.6565 1.6688 131.600 7.7830 13.0500 159.50 1230.00 132.72 2.5030 1.8775 63.780 6.4740 135.750 2.0363 50.83 799.40 112.650 30.590 6.0400 1.3645 29.320 25.390 179.62 70.24 11.715 34.810 1.3075 4 3.7314 6.4175 4.0900 5.6376 1.6642 131.100 7.7760 12.9900 160.15 1226.00 132.40 2.5005 1.8720 64.020 6.4440 135.350 2.0325 50.95 799.10 112.400 30.590 6.0220 1.3610 29.280 25.390 180.20 70.68 11.515 34.300 1.3055 3.7314 6.3260 4.0350 5.5560 1.6365 129.400 7.7750 12.9400 161.80 1209.00 129.40 2.4950 1.8410 63.950 6.3875 134.200 2.0225 51.10 798.80 110.920 30.607 5.9570 1.3345 29.250 NA 183.00 71.37 11.485 34.200 1.3056 3.7314 6.2975 4.0250 5.5350 1.6315 129.200 7.7700 12.9400 162.85 1204.00 128.50 2.4800 1.8355 64.020 6.3700 133.600 2.0125 51.25 798.70 110.300 30.625 5.9400 1.3310 29.160 25.250 183.80 90.71 90.58 90.33 88.97 88.65 SINDEX OF WEIGHTED AVERAGE EXCHANGE VALUE OF U.S. DOLLAR AGAINST CURRENCIES OF OTHER G-10 COUNTRIES. MARCH 1973 = 100. HEIGHTS 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. *VALUE IS U.S. CENTS
@FedFRASER