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(516/517) Selected Interest & Exchange Rates W eekly Series o f Charts December 24,2001 DIVISION OF INTERNATIONAL FINANCE Prepared by the BOARD OF GOVERNORS FINANCIAL MARKETS FEDERAL RESERVE SYSTEM SECTION Washington, D.C. 20551 Table o f Contents TABLES 1. LATEST FIGURES PLOTTED 2. DAILY CERTIFIED SPOT EXCHANGE RATES CHARTS 1. NOMINAL CURRENCY EXCHANGE VALUES 2. 3-MONTH FORWARD EXCHANGE RATES 3. PRICE OF GOLD IN LONDON 4. OVERNIGHT FUNDING RATES AND OFFICIAL INTEREST RATES 5. 3-MONTH INTEREST RATES 6. LONG-TERM GOVERNMENT BOND YIELDS 7. STOCK INDEXES SUBSCRIPTION RATES: Weekly $30.00 per year or $.70 each in the United States, its possessions, Canada, and Mexico. Elsewhere, $35.00 per year or $.80 each. Address requests to Publications Services Division o f Support Services and make payment remittance payable to the Board o f Governors o f the Federal Reserve System in a form collectible at Par in U.S. currency. Chart 1 Nominal Currency Exchange Values Dollar prices of foreign currencies and weighted average values of U.S. dollar (Averages for week ending Wednesday, ratio scale, March 1973 = 100) -i 260 - 220 180 140 90 70 50 30 Chart 2 3-Month Forward Exchange Rates Premium (+) or (-) (Averages for w eek ending Wednesday, percent per annum) 1 German mark and euro U.K. pound 0 -1 -2 -3 8 Canada Japanese yen 6 4 2 Swiss franc Australian dollar 2 1 0 -1 -2 -3 Chart 3 Price of Gold in London (Averages for w eek ending Wednesday) u.s dollars per fine ounce U.S. dollars per fine 420 420 12.5 Kg Bars Afternoon fixing price 400 400 380 380 360 360 340 340 320 320 300 300 280 280 260 260 240 ________ I________ ________ i____________ i____________ i________ 1996 1998 1997 1999 2000 2001 240 Chart 4 Interbank Funding Rates and Official Interest Rates (Averages for week ending Wednesday, percent per annum) Chart 5 3-Month Interest Rates (Averages for week ending Wednesday, percent per annum) Chart 6 Long-Term Government Bond Yields (Averages for week ending Wednesday, percent per annum) 8 Germany United States 6 / 4 Weighted average foreign rate 2 0 2000 8 Canada 6 4 2 0 8 France United Kingdom 6 4 2 0 8 Switzerland 6 4 2 2000 0 Chart 7 Stock Indexes (Averages for week ending Wednesday, ratio scale, December 30, 1994 = 100) 1998 1999 2000 2001 350 300 250 200 150 100 50 21-Nov-01 28-Nov-01 5-Dec-01 Chart 1. 12-Dec-01 19-Dec-01 Nominal Currency Exchange Values Noon buying rates (U.S. cents, weekly averages) Australian dollar Canadian dollar Japanese yen Restated German mark and euro Swedish krona Swiss franc U .K . pound 51.8760 62.862 0.81414 88.11 9.3954 60.317 142.06 51.9750 62.710 0.80630 88.14 9.3954 60.242 141.48 51.7740 63.491 0.80696 88.98 9.3726 60.472 142.17 51.6740 63.522 0.79429 89.11 9.5293 60.317 143.42 51.6600 63.753 0.78462 90.15 9.5460 61.133 145.32 36.72 62.65 213.17 126.73 41.61 194.05 57.46 36.79 62.50 211.12 126.77 41.61 193.81 57.22 36.64 63.28 211.29 127.97 41.51 194.55 57.50 36.57 63.31 207.97 128.16 42.20 194.05 58.01 36.56 63.54 205.44 129.67 42.27 196.67 58.78 -2.19 -0.17 -1.33 2.12 0.07 -1.81 -2.23 -0.20 -1.39 1.94 0.07 -1.96 -2.31 -0.24 -1.45 1.85 0.03 -2.05 -2.31 -0.25 -1.44 1.84 0.05 -2.07 273.23 275.65 273.40 277.33 Indexes, March 1973 base rates = 100 Australian dollar Canadian dollar Japanese yen Restated German mark and euro Swedish krona Swiss franc U .K . pound Chart 2. 3-Month Forward Exchange Rates, Premium or Discount Australian dollar Canadian dollar Euro Japanese yen Swiss franc U .K . pound Chart 3. Gold Price in London, Afternoon Fixing U.S. dollars per fine ounce Chart 4. -2.24 -0.26 -1.33 2.13 -0.04 -1.85 273.86 Interbank Funding Rates and Official Interest Rates United States Target federal funds rate Effective federal funds Discount rate Canada Bank rate Call money Lower bound Euro area Marginal lending rate Eonia Repo rate Overnight deposit rate Japan Call money Discount rate Switzerland* Upper bound Libor rate Lower bound United Kingdom Call money Repo rate 2.00 2.01 1.50 2.00 1.95 1.50 2.00 2.02 1.50 1.93 1.88 1.43 1.75 1.84 1.25 3.00 2.74 2.50 2.50 2.53 2.00 2.50 2.24 2.00 2.50 2.24 2.00 2.50 2.23 2.00 4.25 3.29 3.25 2.25 4.25 3.32 3.25 2.25 4.25 3.30 3.25 2.25 4.25 3.28 3.25 2.25 4.25 3.31 3.25 2.25 0.00 0.10 0.00 0.10 0.00 0.10 0.00 0.10 0.00 0.10 2.75 2.18 1.75 2.75 2.10 1.75 2.25 1.99 1.25 2.25 1.90 1.25 2.25 1.88 1.25 3.73 4.00 3.17 4.00 4.08 4.00 3.93 4.00 4.60 4.00 *In January 2000, the Swiss National Bank began to target the Swiss Franc 3-month LIBOR interest rate, with the aim of keeping this rate inside a range given by an upper and a lower bound. 21-Nov-01 28-Nov-01 5-Dec-01 Chart 5. 3 -Month Interest Rates U.S. 90-day CD's, secondary market Australian bank bill Canadian finance paper Euro-area interbank Japanese CD Swedish treasury bill Swiss interbank U.K. interbank sterling Weighted average foreign interest rate Chart 6. 2.07 1.82 2.06 1.96 4.30 4.30 4.31 4.25 2.22 2.13 2.45 2.45 3.37 3.38 3.36 3.36 0.03 0.03 0.03 0.03 3.88 3.88 3.92 3.90 2.08 1.79 2.00 1.90 3.88 3.88 3.91 4.15 2.10 2.19 2.19 2.11 Switzerland, Australia, and Sweden) 1.80 4.28 2.13 3.35 0.03 3.90 1.80 3.96 2.08 Long Term Government Bellwether Bond Yields 10-year maturity, where available Canada France Germany Italy Japan Switzerland United Kingdom United States Weighted average foreign interest rate Chart 7. 12-Dec-01 19-Dec-01 Stock Indexes Canada France Germany Euro area* Italy Japan Switzerland** United Kingdom United States 5.35 5.43 5.25 5.45 4.70 4.76 4.88 4.69 4.56 4.62 4.56 4.77 4.89 5.08 4.90 4.95 1.35 1.37 1.38 1.36 3.20 3.25 3.27 3.47 4.71 4.68 4.66 4.89 4.87 5.01 4.79 5.11 4.37 4.40 4.45 4.53 Switzerland, Australia, and Sweden) 5.52 4.87 4.78 5.04 1.34 3.46 4.82 5.17 N. A. 179.84 234.08 199.33 312.25 226.89 66.46 250.12 114.18 229.29 178.02 231.32 196.76 303.04 221.41 63.93 245.23 112.93 233.17 (Wednesday figures) 173.98 234.78 201.26 310.44 227.78 67.90 256.42 116.39 230.96 174.63 229.99 195.59 308.93 222.78 67.56 248.61 114.10 229.22 180.85 241.33 202.59 306.75 230.03 67.18 255.56 117.41 235.64 1994, **December 29,, 1994) are Toronto Compos i' SBF250, FAZ Aktien, *Dow Jones EURO stock index, Banca Italiana General, Tokyo SE (Topix), Swiss Performance Index, Financial Times Ordinary, NYSE Composite
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