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(516/517) Selected Interest & Exchange Rates Weekly Series of Charts December 5,1988 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 PRICE—LONDON 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 year or $.60 each in the United States, its possessions, Canada, and Mexico; 10 or more of the s a m e issue to one address, $22.50 per year or $.55 each. Elsewhere, $30.00 per year or $.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 in 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 RATIO SCALE MARCH 1973-100 RATIO SCALE MARCH 1973-100 FOREIGN CURRENCY PRICE OF U.S. DOLLAR 220 200 180 — - / v ^ 100 180 160 140 220 200 J - 180 - 160 - 140 — 120 - 100 M 1 1 1 1 1 1 ! 11 80 — 140 80 p GERMAN 160 120 JAPANESE Y E N ^ ^ — — - - - - j r — • v f i I i i i I —- I I I I I u l i H i l l ii — — — - - CANADIAN DOLLAR 120 DUTCH GUILDER - 100 90 — - 80 70 Vv. l 60 90 80 - l l l l l l l l l l l l l l l l l l l 1111II111111 y/XyV*^ FRENCH FRANC U.K. POUND 70 v 60 - j\r i 40 90 80 70 ~ 50 — i - i i i i n i l H i l l ii I I I I I I | ill | l u l l | - 60 - 50 11111111111 140 40 280 120 240 BELGIAN FRANC 100 90 SWISS FRANC - - - 200 180 80 - - - 160 70 - — - 140 - 120 - 60 50 /\f - i i l I I 1986 I I 1988 I I I I 1986 I 100 1988 CHART2 3-MONTH FORWARD EXCHANGE RATES PREMIUM (+) OR (-) AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER ANNUM PERCENT PER ANNUM 8 4 CANADIAN DOLLAR JAPANESE YEN A\Z" i i i I l l I I I I I 4 I 12 U. K. POUND SWISS FRANC — — I I I I I I i I I I I I i I I I llllllllllll DUTCH GUILDER QEFIMAN MARK I i lllllllllll FRENCH FRANC 1986 1988 1986 1988 CHARTS PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY U S. DOLLARS PER FINE O U.S. OLLARS PER FINE OUNCE 520 520 500 500 480 480 460 460 12.5 Kg BARS AFTERNOON FIXING PRICE 440 440 420 420 400 400 380 380 360 360 340 340 320 320 300 300 280 280 1985 1986 1987 1988 CHART4 CALL MONEY RATES WEEKLY SERIES 41 PER ANNUM PERCENT PER ANf 16 12 16 U.S. FEDERAL FUNDS 12 FRANCE 8 8 4 4 UL iilnlu 0 0 16 16 CANADA 12 8 12 GERMANY 8 4 4 0 0 16 20 UNITED KINGDOM - SWITZERLAND 16 12 12 8 8 4 NETHERLANDS 4 0 0 1986 1988 1986 1988 CHARTS 3-MONTH INTEREST RATES WEEKLY SERIES PERCENT PER ANh ENT PER ANNUM 16 — 12 10 CANADIAN FINANCE CO. PAPER U.S. CD'S 14 8 - 10 6 WEIGHTED AVERAGE FOREIGN RATE 4 2 14 12 I I I I I - I I I I I I 8 6 14 U.K. INTERBANK STERLING FRENCH INTERBANK RATE 12 - 12 10 10 8 8 I 6 I 6 I 10 10 8 NETHERLANDS INTERBANK RATE GERMAN INTERBANK RATE - 6 6 \ 4 I 2 I I I I +** - 4 2 I 8 10 8 8 SWISS INTERBANK RATE JAPANESE GENSAKI RATE 6 6 4 4 2 0 2 1986 1988 1986 1988 CHART 6 EURO-DOLLAR DEPOSIT RATES LONDON AVERAGES FOR WEEK ENDING WEDNESDAY PEP ENT PER ANNUM PERCENT PER ANN 14 14 OVERNIGHT 3-MONTH 12 12 10 10 8 8 6 6 4 4 14 14 7-DAY 12 12 10 10 8 8 6 6 4 4 14 14 1-YEAR 1-MONTH 12 12 10 10 8 8 6 6 LLJJ 1J 4 1986 1988 1986 4 1988 CHART7 SELECTED EURO-DOLLAR AND U.S. MONEY MARKET RATES DIFFERENTIAL: PLUS(+),FAVORS BORROWING IN U.S. AVERAGES FOR WEEK ENDING WEDNESDAY )ENT PER ANNUM PERCENT PER AN 14 14 12 12 10 - FEDERAL FUNDS DASHED UNE A y 8 3-MONTH EURO-DOLLAR DEPOSITS \ jr x . / 10 - 8 A WW, V — v A 6 OVERNIGHT EURO-DOLLAR DEPOSITS 6 90-DAY CD'S DASHED UNE 4 4 111111111111111111111111 2 I I1 1 1 1 1 1 I I II I II I II I 11111111111 2 2 2 DIFFERENTIAL DIFFERENTIAL 1 1 + — V Y 0 J 1 f 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1986 PERCENT ON DIFFERENTIAL SCALE - 2 PERCENT ON RATE SCALE 1988 | 1L 1 1 1 1 1986 1 + 0 I i i IiIIiIIi i 11111111111 1988 1 CHARTS INTEREST ARBITRAGE: 3-MONTH FUNDS DIFFERENTIAL: PLUS(+), INDICATES FAVOR DOLLAR ASSETS AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER ANIS ENT PER ANNUM 16 16 12 INTERBANK STERLING COVERED LONDON 12 CANADIAN FINANCE CO. PAPER, COVERED 8 8 EURO-DOLLAR DEPOSITS DASHED LINE 4 0 I 2 I I 1 1 1 I U.S. COMMERCIAL PAPER DASHED LINE I— I iiliiliiIiiIiiliiliilii DIFFERENTIAL I I 4 111111111111111111111111 2 DIFFERENTIAL + + 0 0 2 I I I •I1111111 H " l l l l l l l l l I I I I I I I 11 l u l l 111111 l l l l l l l l 11 12 12 INTERBANK DM COVERED FRANKFURT SWISS INTERBANK <SR) COVERED 8 8 EURO-DOLLAR DEPOSITS DASHED LINE EURO DOLLAR DEPOSITS DASHED LINE 4 I 2 I I I I I I 1111111111IIIH1111111111 l DIFFERENTIAL l l l l l l l 4 llllllllllllllllllllllll 0 2 DIFFERENTIAL + + 0 2 2 16 16- 0 0 0 I I III I I I I 1986 H1111II 111 1988 1 PERCENT ON DIFFERENTIAL SCALE - 2 PERCENT ON RATE SCALE J_L I I 1986 I 1111 i l l 1111 l l l l l l l l 1988 2 CHART9 LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES PERCENT PER ANI DENT PER ANNUM 16 16 14 CANADA UNITED STATES 14 12 12 V a „ / L 10 V A / A V _ 8 8 I 6 I I I I I Illllllllll JAPAN UNITED KINGDOM 8 6 10 8 6 - I I I I I I I I I I 4 2 I 10 8 6 6 10 14 12 10 GERMANY SWITZERLAND 8 4 6 2 4 17 15 U.S. CORPORATE MONTHLY FRANCE 15 13 Aaa BONDS 13 11 .. 11 V V \ A V* V^r- 9 7 NETHERLANDS MONTHLY 7 I I I 5 9 1986 1988 I I I 1986 I 5 Illllllllll Illllllllll 1988 3 CHART 10 INDUSTRIAL STOCK INDICES WEEKLY SERIES RATIO SCALE 1969-100 RATIO SCALE 1969-100 500 400 500 400 — — UNITED KINGDOM UNfTED STATES 300 — 200 - 1 660 — 660 - 460 - 350 - 1 1 i i i HIMIMIM A~ 300 - 11llllllll1 1 1 1 1 1 1 200 100 650 - JAPAN / j f Y 260 150 1 - 1 100 ^ M/ — - FRANCE - - / • — i i i i i i n i l M i l l II V VVv 1 ' — / 1 1 1 1 1 1988 1986 550 - 450 - 350 - 250 150 1 II 1986 - l l l l l l l 1988 100 LAST VALUE PLOTTED DATE VALUE S E R I E S NAME CHART 1 . SPOT EXCHANGE RATES AND I N D I C E S WEEKLY AVERAGES, NOON BUYING RATES (0.S. GERMAN MARK JAPANESE YEN DUTCH GUILDER U.K. POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC BELGIAN FRANC ITALIAN LIRA SWEDISH KRONA INDICES, MARCH 1 9 7 3 WEIGHTED AVERAGE EXCHANGE VALUE I N D I C E S , ( G - 1 0 COUNTRIES PLUS SWITZERLAND) DUTCH GUILDER U . K . POUND CANADIAN DOLLAR FRENCH FRANC S W I S S FRANC BELGIAN FRANC ITALIAN LIRA SWEDISH KRONA CHART 2 . NOV. NOV. NOV. NOV. NOV. NOV. NOV. NOV. NOV. NOV. 30 30 30 30 30 30 30 30 30 30 57.87 0 . 8 2 184 51.30 184.55 83.96 16.94 6 9 . 13 2.76116 0.07811 1 6 . 59 NOV. NOV. NOV. NOV. NOV. NOV. NOV. NOV. NOV. 30 30 30 30 .30 30 30 30 30 162.79 2 1 5 . 18 147.29 74.64 8 3 . 68 7 6 . 34 222.39 1 0 8 . 80 44.37 30 30 30 30 30 30 30 30 30 30 30 90.60 163.22 216.23 139.24 6 6 . 46 75.91 67.87 2 1 0 . 09 100.71 38.35 6 7 . 10 30 30 30 30 30 30 30 30 -1.42 -3.43 4.20 1.06 4.45 3.91 4.85 -2.50 BASE RATES = 100 GERMAN MARK JAPANESE YEN DUTCH GUILDER U.K. POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC BELGIAN FRANC ITALIAN LIRA U. S . DOLLAR GERMAN MARK JAPANESE YEN CENTS) MAR 1 9 7 3 = 1 0 0 NOV. NOV. NOV. NOV. NOV. NOV. NOV. NOV. NOV. NOV. NOV. 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 80?. SO?. NOV. NOV. NOV. NOV. NOV. NOV. LAST VALUE PLOTTED DATE VALUE S E R I E S NAME CHART 3 . GOLD P R I C E IN LOUDOS, AFTERHOOH F I X I N G U.S. CHART 4 . DOLLARS PER F I N E OUNCE NOV. 3 0 CALL HONEY RATES 4 2 2 . $0 . U . S . FEDERAL FUNDS OVERNIGHT EURO-DOLLAR DEPOSITS U.K. CANADA GERMANY JAPAN FRANCE NETHERLANDS SWITZERLAND NOV. NOV. NOV. NOV. NOV. NOV. NOV. NOV. NOV. 30 30 30 30 30 30 30 30 30 8.44 8.33 12.22 10.22 4.77 3.70 7.71 4.36 4.17 NOV. NOV. NOV. NOV. NOV. NOV. NOV. NOV. NOV. 30 30 30 30 30 30 30 30 30 9.23 4.97 4 . 18 10.97 12.68 4.65 8.06 5.34 7.11 NOV. NOV. NOV. NOV. NOV. NOV. 30 30 30 30 30 30 8.33 8.40 8.58 9.29 9.25 9.34 OVERNIGHT EURO-DOLLAR DEPOSITS U . S . FEDERAL FUNDS DIFFERENTIAL NOV. 3 0 NOV. 3 0 NOV. 3 0 8.33 8.44 -0.11 3-MONTH EURO-DOLLAR DEPOSIT RATE U . S . 90-DAY C D ' S , SECONDARY MARKET DIFFERENTIAL NOV. 3 0 NOV. 3 0 NOV. 3 0 9.29 9.23 0.06 CHART 5 . 3-MONTH INTEREST RATES U . S . 90-DAY C D ' S * SECONDARY MARKET GERMAN INTERBANK LOAN JAPANESE GENSAKI RATE CANADIAN FINANCE PAPER INTERBANK STERLING SWISS 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-MONTH 3-MONTH 6-MONTH 1-YEAR CHART 7 . SELECTED EURO-DOLLAR AND U . S . MONEY MARKET RATES SERIES CHAM 6 . NAME L A S T VALUE PLOTTED DATE VALUE INTEREST ARBITRAGE, 3-MONTH FUNDS EURO-DOLLAR DEPOSIT INTERBANK STERLING (LONDON), COVERED DIFFERENTIAL NOV. 3 0 NOV. 3 0 NOV. 3 0 9.29 9.14 0 . 15 U . S . COMMERCIAL PAPER CANADIAN FINANCE PAPER, COVERED DIFFERENTIAL NOV. 3 0 NOV. 3 0 NOV. 3 0 9.12 9.51 -0.39 EURO-DOLLAR DEPOSIT INTERBANK DM (FRANKFURT), COVERED DIFFERENTIAL NOV. 3 0 NOV. 3 0 NOV. 3 0 9.29 9.23 0.06 EURO-DOLLAR DEPOSIT SWISS INTERBANK, COVERED DIFFERENTIAL NOV. 3 0 NOV. 3 0 NOV. 3 0 9.29 9.15 0.14 CHART 9 . LONG TERM GOVERMENT BOND YIELDS UNITED STATES GERMANY JAPAN SWITZERLAND CANADA FRANCE NETHERLANDS (MONTHLY) UNITED KINGDOM U.S. 25 25 11 25 2S 18 25 9.10 6.08 4.30 4 . 19 10.32 8.96 6.43 8.85 CORPORATE AAA BONDS CHART 1 0 . NOV. NOV. NOV. NOV. NOV. NOV. SEPT. NOV. MAY 9.33 STOCK I N D I C E S UNITED STATES UNITED KINGDOM CANADA GERMANY SWITZERLAND NETHERLANDS FRANCE JAPAN NOV. NOVNOV. NOV. NOV. NOV. NOV. NOV. 30 30 30 30 30 30 30 30 2 9 1. 16 320.55 326.31 226.33 195.44 289.94 393.34 606.09 FEDERAL RESERVE statistical release H.10(512) DECEMBER 2, 1988 FOREIGN EXCHANGE RATES FOR THE WEEK ENDING DECEMBER 2, 1968 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 DOLLAR *AUSTRALIA SCHILLING AUSTRIA FRANC BELGIUM CANADA DOLLAR YUAN CHINA,P.R. KRONE DENMARK MARKKA FINLAND FRANC FRANCE D. MARK GERMANY DRACHMA GREECE DOLLAR HONG KONG RUPEE INDIA POUND ^IRELAND LIRA ITALY YEN JAPAN RINGGIT MALAYSIA GUILDER NETHERLANDS DOLLAR *NEN ZEALAND KRONE NORWAY ESCUOO PORTUGAL SINGAPORE DOLLAR RAND SOUTH AFRICA WON SOUTH KOREA PESETA SPAIN RUPEE SRI LANKA KRONA SWEDEN FRANC SWITZERLAND DOLLAR TAIWAN BAHT THAILAND •UNITED KINGDOM POUND MEMO: tUNITED STATES DOLLAR NOV. 28 1 CURRENCY UNITS PER DOLLAR) NOV. 30 NOV. 29 DEC. 1, DEC. 2 87.32 12.200 36.360 1.1915 3.7314 6.6930 4.1100 5.9210 1.7335 144.500 7.8090 14.9800 154.05 1285.75 122.22 2.6810 1.9550 65.380 6.5200 144.300 1.9470 2.3330 690.80 '113.710 32.988 6.0400 1.4508 28.150 25.080 183.70 87.68 12.155 36.200 1.1941 3.7314 6.6670 4.0975 5.8990 1.7273 144.100 7.8070 14.9500 154.65 1278.00 121.50 2.6720 1.9487 65.420 6.4850 143.530 1.9410 2.3059 690.90 113.050 32.992 6.0200 1.4453 28.160 25.110 185.16 87.50 12.212 36.380 1.1878 3.7314 6.6910 4.0950 5.9290 1.7360 144.700 7.8050 14.9500 153.75 1283.00 121.90 2.6770 1.9580 65.500 6.4910 143.950 1.9485 2.2980 690.30 113.250 32.990 6.0415 1.4535 28.180 25.080 184.93 87.15 12.180 36.310 1.1873 3.7314 6.6850 4.0950 5.9220 1.7325 144.100 7.8045 14.9000 154.63 1281.00 121.60 2.6770 1.9545 64.730 6.4900 143.550 1.9530 2.2840 689.80 113.020 32.988 6.0240 1.4525 28.190 25.070 185.25 87.08 12.175 36.240 1.1875 3.7314 6.6785 4.0510 5.9110 1.7310 144.400 7.8030 14.8700 154.70 1279.25 121.47 2.6750 1.9520 65.050 6.4810 143.550 1.9480 2.2740 689.20 113.000 32.990 6.0200 1.4503 28.190 25.090 185.60 90.90 90.52 90.82 90.66 90.55 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
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