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(516/517) Selected Interest & Exchange Rates Weekly Series of Charts December 18,1989 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 EXCHANGE RATES— H.10 RELEASE CHARTS 1. SPOT EXCHANGE RATE INDICES 2 3-MONTH FORWARD EXCHANGE RATES 3. GOLD P R I C E - L O N D O N 4. CALL MONEY RATES 5. 3-MONTH INTEREST RATES 6 EURO-DOLLAR DEPOSIT RATES 7. SELECTED EURO DOLLAR AND U S. MONEY MARKET RATES 8. INTEREST ARBITRAGE: 3-MONTH FUNDS 9. LONG-TERM GOVERNMENT BOND YIELDS 10 INDUSTRIAL STOCK INDICES SUBSCRIPTION RATES: Weekly $24.00 per ye@r 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. $30.00 per year or S.70 each. Address requests to Publications Services, Division of Administrative Services, and make payment remittance payable to the order of the Board of Governors of the Federal Reserve System m a form collectible at par in u.$. Currency. CHART 1 SPOT EXCHANGE INDICES DOLLAR PRICES OF FOREIGN CURRENCIES AND WEIGHTED AVERAGE VALUES (THIN LINE) AVERAGES FOR WEEK ENDING WEDNESDAY RATIOS MARCH 197:1=100 140 SCALE 11973=100 140 120 FOREIGN CURRENCY PRICE OF U.S. DOLLAR - BELGIAN FRANC 120 100 100 90 90 80 80 I 70 I I I I I 70 280 240 280 SW SS FRANC - JAPANESE YEN 240 200 200 180 180 160 — 140 140 120 I I I I I 120 I 100 100 CANADIAN DOLLAR 90 80 160 90 U.K. POUND 80 70 70 60 60 50 50 200 180 __ DUTCH GUILDER GERMAN MARK - 200 180 160 160 140 140 120 — 100 I I I I I 100 I 120 60 ITALIAN LIRA 100 90 120 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 4 PERCENT PER ANNUM 4 U. K. POUND CANADIAN DOLLAR A I I I x i Z i * ^ — A v V \ I i I I I I I I Illllllllll I I I I I I I Illllllllll I I I I I I I nliiliihi I I I I ITALIAN LIRA FRENCH FRANC JUL 12 I DUTCH GUILDER SWISS FRANC I I JAPANESE YEN GERMAN MARK I I 1987 - 1989 12 1987 1989 CHART 3 PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY U.S. U.S. DOLLARS PER FINEOL LLARS PER FINE OUNCE 520 520 500 500 12.5 Kg BARS AFTERNOON FIXING PRICE 480 480 460 460 440 440 420 420 400 400 380 380 360 360 340 340 320 320 300 300 1986 1987 1988 1989 CHART 4 CALL MONEY RATES WEEKLY SERIES PERCENT PER ANNUM PERCENT PER ANNUM U.S. FEDERAL FUNDS FRANCE JAPAN 16 16 CANADA 12 8 GERMANY 4 0 16 UNITED KINGDOM SWITZERLAND 12 8 4 NETHERLANDS 0 1987 1989 1987 1989 CHART 5 3-MONTH INTEREST RATES WEEKLY SERIES PERCENT PER AM ;ENT PER ANNUM 12 12 FRENCH INTERBANK RATE 10 10 U.S. CD'S 8 8 6 6 WEIGHTED AVERAGE FOREIGN RATE 4 4 2 2 16 16 14 - U.K. INTERBANK STERLING CANADIAN FINANCE CO. PAPER 12 f - 14 12 10 10 8 8 6 I I I I I 6 I 8 8 JAPANESE GENSAKI RATE 6 - SWISS INTERBANK RATE jJ - 4 6 4 2 — I 0 I I I I I 2 0 10 10 8 8 GERMAN INTERBANK RATE 6 J 4 2 6 - 4 — I I I 2 1987 1989 1987 1989 CHART 6 EURO-DOLLAR DEPOSIT RATES LONDON AVERAGES FOR WEEK ENDING WEDNESDAY )ENT PER ANNUM PERCENT PER ANf 14 12 14 OVERNIGHT 3-MONTH 12 10 10 8 8 6 6 4 4 14 14 12 6-MONTH 7-DAY 12 10 10 8 8 6 6 4 4 14 14 12 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 PERCENT PER ANNUM PERCENT PER ANNUM 14 14 12 12 10 10 3-MONTH EURO-DOLLAR DEPOSITS FEDERAL FUNDS DASHED LINE A* - A V V v W V / t V ^ OVERNIGHT EURO-DOLLAR DEPOSITS v 90-DAY CD'S DASHED LINE - J I I 111111111111111111111111 - I I 11111111111 I 11111111111 2 2 DIFFERENTIAL DIFFERENTIAL + 0 J I I 111111111111111111111111 1987 1 PERCENT ON DIFFERENTIAL SCALE = 2 PERCENT ON RATE SCALE 1989 I I I I I 1987 I I I I I I I I I I I I I I I I I I II I I I 1989 CHARTS INTEREST ARBITRAGE: 3-MONTH FUNDS DIFFERENTIAL: PLUS(+), INDICATES FAVOR DOLLAR ASSETS AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER ANH ENTPER ANNUM 16 16 12 12 CANADIAN FINANCE CO. PAPER, COVERED INTERBANK STERLING COVERED LONDON 8 8 0 U.S. COMMERCIAL PAPER DASHED LINE EURO-DOLLAR DEPOSITS DASHED LINE 4 I I I I I I I I Inhill111mill111ili! 4 n l n l i i l i i l u l ii h i l i i 2 2 DIFFERENTIAL DIFFERENTIAL + + 0 0 I 2 I I I l l l l l l I I I I I I I ll l l l l l l I I 16 12 2 16 12 INTERBANK DM COVERED FRANKFURT SWISS INTERBANK (SF) COVERED 8 4 0 8 EURO-DOLLAR DEPOSITS DASHED LINE EURO-DOLLAR DEPOSITS DASHED LINE 4 iiliiliiIiiIiiliiliilii 0 2 0 2 DIFFERENTIAL DIFFERENTIAL + 0 + 0 JLL iiliiliilii 2 1987 1989 1 PERCENT ON DIFFERENTIAL SCALE = 2 PERCENT ON RATE SCALE IIIllllllI J _ l 1987 Mill 1989 2 CHART9 LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES DENT PER ANNUM PERCENT PER ANI 14 12 14 „ UNITED STATES CANADA 12 . Zv\ j W - v \ V 10 10 8 8 I I I 6 I I I 6 14 12 14 UNITED KINGDOM FRANCE 12 10 10 8 8 6 I I I I I I, 6 10 8 10 JAPAN SWITZERLAND 8 6 6 4 4 2 I I M l I I I III!I I I I 2 10 8 10 NETHERLANDS MONTHLY - GERMANY - 6 6 4 - I I I 2 8 1987 1989 I I I 1987 4 2 1989 CHART 10 INDUSTRIAL STOCK INDICES WEEKLY SERIES RATIO SCALE 1969=100 RATIO SCALE 1969=100 UNITED STATES NETHERLANDS JAPAN GERMANY 300 - 800 600 500 - X M - / 400 - - V v K \ / - 300 - / i 200 300 - i i i i i iiiiihii.. — — SWITZERLAND 250 FRANCE 200 150 - - - I 100 I I I I I lllllllllH 600 500 — CANADA 400 UNITED KINGDOM — 300 200 ~ I I I I I 1987 I 1989 1987 1989 SERIES CHART 1. SPOT KEEKLX L A S T VALUE P L 0 1 T E D DATE VALUE NAME EXCHANGE R A T E S AND I N D I C E S AVERAGES, NOON BUYING R A T E S (U.S. CENiS) GERMAN MARK J A P A N E S E YEN DUTCH G U I L D E R U . K . POUND CANADIAN DOLLAR FRENCH FRANC S W I S S FRANC BELGIAN FRANC ITALIAN LIRA SWEDISH KRONA INDICES, MARCH 1 9 7 3 BASE RATES = WEIGHTED AVERAGE EXCHANGE VALUE I N D I C E S , ( G - 1 0 COUNTRIES PLUS SWITZERLAND) U . S . DOLLAR GERMAN MARK J A P A N E S E YEN DUTCH G U I L D E R U. K. POUND CANADIAN DOLLAR FRENCH FRANC S W I S S FRANC B E L G I A N FRANC ITALIAN LIRA SWEDISH KRONA 3-MONTH FORWARD EXCHANGE R A T E S , CANADIAN DOLLAR U . K . POUND GERMAN MARK FRENCH FRANC S W I S S FRANC DUTCH G U I L D E R http://fraser.stlouisfed.org/ J A P A N E S E YEN I TLouis ALIAN LIRA Federal Reserve Bank of St. 13 13 13 13 13 13 13 13 13 13 56.92 0.69332 50. 43 158.72 8 6 . 05 16.65 62. 96 2.70880 0.07692 15.81 DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. 13 13 13 13 13 13 13 13 13 1 6 0 . 12 181. 53 1 4 4 . 77 64.20 8 5 . 77 75.02 202.5b 106. 74 4 3 . 69 13 13 13 u 13 13 13 13 13 13 13 95. 63 168.37 187. 45 143.05 58.97 81.60 69.79 199.36 103.24 39.49 66.71 13 13 13 13 13 13 13 13 - 3 . 54 - 6 . 18 0. 25 - 2 . 02 0. 40 - 0 . 07 1 .i 9 3 - 4 . 49 100 GERMAN MARK J A P A N E S E YEN DUTCH G U I L D E R U . K . POUND CANADIAN DOLLAR FRENCH FRANC S W I S S FRANC B E L G I A N FRANC I T A L I A N LIRA CHART 2 . DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. MAR 1973 = 100 DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. PREMIUM OR D I S C O U N T DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. SERIES CHART 3 . GOLD P R I C E U.S. CHART 4 . IN DOLLARS P E B CALL LAS I VAi,UE P L O T T E D DATE VALUE NAME LONDON, AFTERNOON F I X I N G F I N E OUNCE 5. 3-MONTH EURO-DOLLAR DEPOSIT RATES; DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. b 13 13 13 13 13 13 13 13 8 ., 5 2 8 ., 3 8 14. be 12. 17 7. 56 6. 21 1 0 . 21 3. 33 7. 07 DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. 6 13 13 13 13 13 13 13 13 8. 8. 5. 12. 15. 7. 1 0. 8. 9. DEC. DEC. DEC. DEC. DEC. DEC. 13 13 13 13 13 13 8.38 8. 43 8 . 66 8.40 8 . 18 8.09 SELECTED Z4 04 /6 34 06 88 49 41 63 LONDON OVERNIGHT 7-DAY 1-MONTH 3-MOUTH 6—MONTH 1-YEAR CHART 7 . 411.67 I N T E R E S T HATES U . S . 9 0 - D A Y C D ' S , SECONDARY MARKET GEiMAN INTERBANK LOAN J A P A N E S E G E N S A K I RATE CANADIAN F I N A N C E PAPER INTERBANK S T E R L I N G S W I S S I N T E R B A N K LOAN FRENCH INTERBANK RATE NETHERLANDS I N T E R B A N K RATE WEIGHTED AVERAGE F O R E I G N I N T E R E S T RATE ( G - 1 0 C O U N T R I E S P L U S SWITZERLAND) CHART b . 13 MONEY B A T E S U . S . FEDERAL FUNDS OVERNIGHT EURO-DOLLAR D E P O S I T S U. K. CANADA GERMANY JA PAN FRANCE NETHERLANDS SWITZERLAND CHART DEC. EURO-DOLLAR AND U . S . MONEY MARKET RATES OVERNIGHT EURO-DOLLAR D E P O S I T S U . S . FEDERAL FUNDS DIFFERENTIAL DEC. DEC. DEC. 13 6 o 8.38 8.52 - 0 . 08 3 - M O N T H EURO-DOLLAR D E P O S I T U . S . 9 0 - D A Y C D ' S , SECONDARY DIFFERENTIAL DEC. DEC. DEC. 13 6 6 8.40 8.24 0.10 RATE MARKET SERIES CHART 8 . INTEREST L A S T VALUE P L O T T E D DATE VA-LUE NAME ARBITRAGE, 3—HONTH FUNDS EURO-DOLLAR D E P O S I T INTERBANK S T E R L I N G ( L O N D O N ) , DIFFERENTIAL U. S . COMMERCIAL P A P E R CANADIAN F I N A N C E P A P E R , DIFFERENTIAL COVERED COVERED EURO-DOLLAR D E P O S I T INTERBANK DM ( F R A N K F U R T ) , DIFFERENTIAL COVERED EURO-DOLLAR D E P O S I T S W I S S I N T E R B A N K , COVERED DIFFERENTIAL CHA4T 9 . 10. 8. 40 8. 65 - 0 . 25 DEC. DEC. DEC. 6 13 6 8. 25 8. 69 - 0 . 30 DEC. DEC. DEC. 13 13 13 8. 40 8. 29 11 0. DEC. DEC. DEC. 13 13 13 8. 40 8 . 29 12 DEC. DEC. DEC. DEC. NOV. DEC. OCT. DEC. 8 8 1 8 24 8 7 . 84 7.63 5 . 66 5 . 58 9.67 9 . 54 7. 43 9.74 0. 15 CORPORATE AAA BONDS CHART 13 13 13 LONG TERM GOVERMEN T BOND Y I E L D S UNITED STATES GERMANY JAPAN SWITZERLAND CANADA FRANCS NETHERLANDS (MONTHLY) UNITED KINGDOM U.S. DEC. DEC. DEC. STOCK MAY INDICES UNITED STATES UNITED KINGDOM CANADA GERMANY SWITZERLAND NETHERLANDS FRANCE JAPAN 9.33 DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. 13 13 13 13 13 13 13 13 372. 413. 396. 294. 254. 356. 555. 761. 42 34 74 74 88 82 24 51 FEDERAL RESERVE statistical release H.10(512) December 1 9 , 1989 FOREIGN EXCHANGE RATES FOR THE WEEK ENDING DECEMBER 1 5 , 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 *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: ^UNITED STATES DOLLAR Dec. 11 (CURRENCY UNITS PER DOLLAR) Dec. 13 Dec. 14 Dec. 12 Dec. 15 78.360 12.455 37.110 1.1635 3.7314 6.8630 4.1680 6.0420 1.7659 163.20 7.8110 16.930 149.25 1304.25 144.50 2.7120 1.9931 59.370 6.7675 154.33 1.9310 2.5900 676.50 114.08 40.018 6.3500 1.5970 26.100 25.840 158.92 78.630 12.211 36.400 1.1630 3,7314 6.7275 4.1100 5.9310 1.7340 159.50 7.8080 16.930 151.75 1287.00 143.90 2.7060 1.9575 59.850 6.6850 151.75 1.9215 2.5575 676.40 112.23 40.018 6.2700 1.5780 26.155 25.820 160.30 78.520 12.225 36.610 1.1595 3.7314 6.7480 4.1180 5.9445 1.7400 158.26 7.8055 16.920 152.15 1295.50 144.17 2.7015 1.9650 59.850 6.6965 152.60 1.9080 2.5690 676.20 112.50 40.018 6.2800 1.5760 26.140 25.780 159.45 78.500 12.245 36.520 1.1630 3.7314 6.7500 4.1140 5.9445 1.7370 160.50 7.8050 16.930 152.00 1294.75 144.10 2.6995 1.9616 59.680 6.7020 152.40 1.9130 2.5703 676.10 112.60 40.018 6.2860 1.5640 26.149 25.780 159.75 78.370 12.145 36.240 1.1605 3.7314 6.7050 4.0910 5.8930 1.7230 160.20 7.8090 16.920 152.90 1288.00 144.15 2.7010 1.9452 59.250 6.6590 151.55 1.9200 2.5550 677.00 111.60 40.018 6.2600 1.5500 26.150 25.780 160.45 95.96 94.74 95.02 94.93 94.39 *VALUE I S U . S . CENTS **IN0EX 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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