Full text of H.13 Selected Interest and Exchange Rates, Weekly Series of Charts : December 5, 1994

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Selected Interest &
Exchange Rates
Weekly Series of Charts

December 5,1994

DIVISION OF
INTERNATIONAL FINANCE

Prepared by the
FINANCIAL MARKETS
SECTION

BOARD OF GOVERNORS
FEDERAL RESERVE SYSTEM
Washington, DuC. 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.
5.
6.
7.

CALL MONEY RATES
3-MONTH INTEREST RATES
EURO-DOLLAR DEPOSIT RATES
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 $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 of
Support 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

120
110
100

RATIO SCALE
MARCH 1973=100

145
135
125
115

FOREIGN CURRENCY
PRICE OF U.S. DOLLAR

90

105

80

95

BELGIAN FRANC

85

70
60

1_L • i

i

i

1

i

•

•

•

1

1

•

I

•

I

I

I

I

1

'

1

I

1

1

I

•

•

'

75
280

290

260

270

240

250

220

230

200

210

180

JAPANESE YEN

190

SWISS FRANC

'

160

'

1 I

'

I

I

I

I

I

'

'

I

I

U.K. POUND

I

•

1

I

—

•

•

i

•

•

1

i

1

1

1

1

1

1

1

1

1

•

i

i

i

i

•

'

i

•

i

•

•

•

I

'

1

1

I

1

1

'

•

'

I

i

» •

i

1

•

1

ITALIAN LIRA

FRENCH FRANC

•
1992

•

GERMAN MARK

i i I i i i I i i i I i i i




1

CANADIAN DOLLAR

DUTCH GUILDER

•

1

1994

i

i

I

'

•
1992

•

'

•

I

1

•
1994

»

CHART 2

3-MONTH FORWARD EXCHANGE RATES
PREMIUM (+) OR (-)
AVERAGES FOR WEEK ENDING WEDNESDAY
PERCENT PER ANNUM

PERCENT PER ANNUM

2
GERMAN MARK

2

U.K. POUND

CANADIAN DOLLAR

JAPANESE YEN
—

jAy*'

__L 1 1 1 1 1 I
SWISS FRANC

I

I

1 I

1 I

DUTCH GUILDER

FRENCH FRANC




1 I

ITALIAN LIRA

1994

1992

1994

CHART 3

PRICE OF GOLD IN LONDON
A V E R A G E S FOR W E E K ENDING W E D N E S D A Y

U.S. DOLLARS PER FINE OUNCE
420

U.S. DOLLARS PER FINE OUNCE
420

400

12.5 Kg BARS
AFTERNOON FIXING PRICE

400

380

380

360

360

340

340

320




320
1991

1992

1993

1994

CHART4

CALL MONEY RATES
WEEKLY SERIES
PERCENT PER ANI

CENT PER ANNUM

10

8
SWITZERLAND

8

U.S. FEDERAL FUNDS

6

6

4
4

JAPAN
2

2

0

9

9

8

8

10

10

GERMANY
7

7

NETHERLANDS

6

6

5

5

4

4
14

16

14

12

FRANCE

12

10

CANADA

10

8

8

6

6

4

UNITED KINGDOM

4

2

•

'

'

l




'

» •
1992

I

'

'

'

2

I

i

i
1994

'
1992

1994

0

CHART 5

3-MONTH INTEREST RATES
WEEKLY SERIES
PERCENT PER ANNUM
13

PERCENT PER ANNUM

12
WEIGHTED AVERAGE
FOREIGN RATE
CANADIAN FINANCE PAPER

U.K. INTERBANK STERLING

NETHERLANDS INTERBANK RATE

JAPANESE CD RATE

FRENCH INTERBANK RATE

—

SWISS INTERBANK




1992

GERMAN INTERBANK RATE

1994

1992

1994

CHART 6

EURO-DOLLAR DEPOSIT RATES LONDON
AVERAGES FOR WEEK ENDING WEDNESDAY
CENT PER ANNUM

10

OVERNIGHT

3-MONTH

8

6

4

2
10

i

i

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•

•

•

I

'

•

i

I

i

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i

1

»

1

I

7-DAY

8

1

1

1

1

i

1

i

I

i

'

'

6-MONTH

6

4

2
10

1

' ' I i i i 1 i » i l i i i

'

i

I

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» i

1-YEAR

1-MONTH

8

i

6

4

2

1

i

i

I




1

1

1992

1

i

1

1

•

I

i i

i
1994

1992

I

i

'

'

l

•

i

i

CHART 7

SELECTED EURO-DOLLAR AND U.S. MONEY MARKET RATES
DIFFERENTIAL: PLUS(+), FAVORS B O R R O W I N G IN U.S.
AVERAGES FOR WEEK ENDING WEDNESDAY
PERCENT PER ANNUM
10

PERCENT PER ANNUM

10

3-MONTH

OVERNIGHT

EURO-DOLLAR DEPOSITS

EURO-DOLLAR DEPOSITS

FEDERAL FUNDS I .
DASHED LINE

*

.

90-DAY CD'S
DASHED LINE

J — I — I — I — I

DIFFERENTIAL

I

I

I

l

I

I

i

i

i

DIFFERENTIAL
—

J — I — I — I — I




I
1992

I

I

I

I

»

I

I

»
1994

I

—

I

I

i

I

i

i
1992

i

I

i

i

i

I

i

i
1994

i

CHART 8

INTEREST ARBITRAGE: 3-MONTH FUNDS
DIFFERENTIAL: PLUS(+), INDICATES FAVOR DOLLAR ASSETS
AVERAGES FOR WEEK ENDING WEDNESDAY
PERCENT PER ANNUM

PERCENT PER ANNUM

CANADIAN FINANCE
CO. PAPER, COVERED

INTERBANK STERLING

COVERED LONDON

6 —

1

U.S. COMMERCIAL PAPER

EURO-DOLLAR DEPOSITS

DASHED LINE

DASHED LINE

I

I

I

I

1

I

1

1

1

1

1

'

1

1

1

1

1

1

I

1

1

'

1

1

1

'

I

I

I

—

1

DIFFERENTIAL

DIFFERENTIAL

'

1

•

'

1

•

•

1

I

I

I

1 '

I

I

4

i

1

\ ..

INTERBANK DM

— C O V E R E D

ii

i

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1

•^vtfVAvX

i

i

i

1

1

1

1

I

'

SWISS INTERBANK (SF) COVERED

FRANKFURT

—

EURO-DOLLAR DEPOSITS

EURO-DOLLAR DEPOSITS'

DASHED LINE

DASHED LINE

I

I

I

I

I

»

1

I

1

1

1

1

1

•

1

'

I




1 I

I
1992

I

I

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» I

I

I

I

1 I

DIFFERENTIAL

DIFFERENTIAL

•

I

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1

I

I

I

I

IV

"V/

I

I

1994

_L_L

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1992

1994

CHART 9

LONG-TERM GOVERNMENT BOND YIELDS
WEEKLY SERIES
PERCENT PER ANNUI

:ENT PER ANNUM

11
UNITED KINGDOM

UNITED STATES

9

7

I

I I I I I • I I I I I I I I

5

10
FRANCE

CANADA

8

6

» ' I

I

» I

I

I

I

I

I

I

I

I

4
7

JAPAN

SWITZERLAND

6
5

4

3

2
10
GERMANY

NETHERLANDS




9

8
7

6
5
1992

1994

1992

1994

CHART 10

STOCK INDICES
WEEKLY SERIES
RATIO SCALE
1986=100

RATIO SCALE
1986=100

220
UNITED STATES

' ' • » » ' »

— UNITED KINGDOM

I • I • I I » I

SWITZERLAND

ARAN

GERMANY

CANADA

FRANCE

NETHERLANDS




1992

1994

i i i I i i ' I i i i i i i
1992
1994

2-Nov-94
Chart 1.

9-Nov-94

16-Nov-94 23-Nov-94 30-Nov-94

Spot Exchange Rates and Indices

Noon buying rates (U.S. cents, weekly averages)
Belgian franc
Canadian dollar
French franc
German mark
Italian lira
Japanese yen
Netherlands guilder
Swiss franc
U.K. pound

3.2342
73.944
19.438
66.562
0.06494
1.03089
59 .370
79.752
163.23

3.1978
73.730
19.176
65.835
0.06409
1.02503
58.719
78.718
161.30

3.1487
73.465
18.858
64.825
0.06319
1.01875
57.788
77.139
158.57

3.1272
72.999
18.738
64.371
0.06257
1.01736
57.419
76.078
157.06

3.1046
72.628
18.619
63.905
0.06186
1.01215
57.044
75.465
156.43

127 .44
73 .70
87 .59
187 .24
37 .28
269 .92
170 .44
256 .57
66 .02

126 .01
73 .49
86 .41
185 .20
36,.79
268,.39
168..57
253..25
65..24

124 .07
73 .22
84 .98
182 ,
.36
36,.27
266..74
165..90
248..17
64 .
.13

123 .23
72 .76
84 .44
181 .08
35 .91
266 .38
164 .84
244 .75
63 .53

122 .34
72 .39
83 .90
179 .77
35,.51
265..01
163..76
242 ..78
63..27

112 .72
64 .01
74 .41
181 .52
29 .73
267 .52
154 .02
53 .53
229 .28
54 .70
87 .80

112 .54
63 .94
74 .32
181 .16
29 .58
268 .72
153 .84
53 .53
227 .28
54 .45
88 .40

112 .36
63 .98
74 .27
180 .82
29 .40
268 .89
153 .70
52 .60
226 .73
54 .55
89 .04

0 .19
0 .16
0 .61
-2 .89
,
.
3 .49
0..56
1..86
-0..31

0 .20
0 .25
0 .70
-2 .68
3 .63
0,.63
1..93
-0..23

0 .16
0 .39
0 .80
-2 .61
3 .71
0 .74
2 .07
,
-0,.01

0 .18
0 .48
0 .81
-2 .57
,
3 .72
,
0,.78
2.
.12
-0..05

385.,81

383 .71

385.,51

384..66

383..65

4 .77
4 .66
4 .98
5. 25
4. 87
2. 21
4 .90
3. 53
4 .88

4 .74
4. 66
4 .80
5. 25
4 .84
2 .19
4 .96
3. 58
6. 15

5. 22
4. 99
4 .86
5. 25
4 .86
2. 23
4 .88
3 .28
4 .58

5. 53
5. 44
5. 11
5. 25
4 .84
2. 20
4 .93
3. 25
4 .33

5. 85
5. 50
5. 22
5. 24
5. 18
2. 20
4 .94
3. 40
4 .35

Indices, March 1973 base rates = 100
Belgian franc
Canadian dollar
French franc
German mark
Italian lira
Japanese yen
Netherlands guilder
Swiss franc
U.K. pound

Weighted average exchange value indices, Mar. 1973=100
Belgian franc
Canadian dollar
French franc
German mark
Italian lira
Japanese yen
Netherlands guilder
Swedish krona
Swiss franc
U.K. pound
U.S. dollar
Chart 2.

3-Month Forward Exchange Rate

Canadian dollar
French franc
German mark
Italian lira
Japanese yen
Netherlands guilder
Swiss franc
U.K. pound
Chart 3.

Gold Price in London, Afterno

U.S. dollars per fine ounce
Chart 4.

113 .72
63 .19
75 .40
183 .26
30 .01
265 .54
155 .43
53 .50
232 .81
55 .34
85 .77

113 .37
63 .56
74 .96
182 .70
29 .86
266 .36
155 .00
52 .77
231 .70
55 .13
86 .69

Premium or Discount
0 . 14
0 .04
0 .50
-3 .00
3 .38
0,.45
1,.66
-0..35
Fixing

Call Money Rates

U.S. federal funds
Overnight Euro-dollar deposits
Canada
France
Germany
Japan
Netherlands
Switzerland
United Kingdom




2-Nov-94
Chart 5.

5 .56
5 .58
5 .50
5 .10
2 .34
5 .12
3 .91
5 .90
5 .04

5 .69
5 .64
5 .50
5 .10
2 .33
5 .17
3 .93
6 .03
5 .08

5 .75
5 .79
5 .51
5 . 11
2 .33
5 .17
3 .85
6 .01
5 .07

5 .87
5 .84
5 .48
5 .10
2 .33
5 .13
3 .81
5 .91
5 .06

5 .95
5 .88
5 .46
5 .11
2 .34
5 .15
3 .81
5 .95
5 .07

4 .66
4 .69
4 .95
5 .54
5 .85
6 .45

4 .66
4 .80
5 .14
5 .69
6 .00
6 .60

4 .99
5 .19
5 .31
5 .76
6 .04
6 .66

5 .44
5 .44
5 .50
5 .88
6 .19
6 .84

5 .50
5 .48
5 .66
5 .91
6 .29
6 .93

Euro-Dollar Deposit Rates

Overnight
7-day
1-month
3-month
6-month
1-year
Chart 7.

16-NOV-94 23-Nov-94 30-Nov-94

3-Month Interest Rates

U.S. 90-day CD's, secondary market
Canadian finance paper
French interbank rate
German interbank rate
Japanese CD rate
Netherlands interbank rate
Swiss interbank rate
U.K. interbank sterling
Weighted average foreign interest rate
(G-10 Countries)
Chart 6.

9-Nov-94

Selected Euro-dollar & U.S. Money Market Rates

Overnight Euro-dollar deposits
U.S. federal funds
Differential

4 .66
4 .77
-0 .11

4 .66
4 .74
-0 .08

4 .99
5 .22
-0 .23

5 .44
5 .53
-0 .09

5 .50
5 .85
-0 .35

3-month Euro-dollar deposit
U.S. 90-day CD's, secondary market
Differential

5 .54
5 .56
-0 .03

5 .69
5 .69
-0 .00

5 .76
5 .75
0 .02

5 .88
5 .87
0 .00

5 .91
5 .95
-0 .03

Euro-dollar deposit
Interbank sterling (London), covered
Differential

5 .54
5 .54
-0 .01

5 .69
5,.71
-0,.03

5 .76
5 .78
-0 .02

5 .88
,
5 .90
,
-0..03

5 .91
5 .90
0 .01
.

U.S. commercial paper
Canadian finance paper, covered
Differential

5 .59
5 .72
-0 .13

5,.70
5,.83
-0 .13
,

5 .78
5 .99
,
-0 .21

,
5 .88
6,.01
-0.. 12

5 .96
,
6,.06
-0 . 10

Euro-dollar deposit
Interbank DM (Frankfurt), covered
Differential

5,.54
5 .60
-0,.07

5,.69
5,.72
-0,.03

5 .76
,
5 .83
,
-0,.06

5 .88
.
5..91
-0..03

5..91
5 .93
.
-0..02

Euro-dollar deposit
Swiss interbank, covered
Differential

5,.54
5,.59
-0..05

5,.69
5 .80
,
-0..11

5 .76
,
5..80
-0..03

5.
.88
5..91
-0..03

5..91
5..95
-0.,04

9..20
8.,32
7.
,61
4.
,66
5.
,43
7.
,66
8.,74
8.,00

.
9 .15
8..16
7.
.47
4.
.64
5..39
7.
.54
8..65
7.
,95

,16
9.
8. 15
7 .47
4 .64
5 .40
7 .56
8. 55
7 .98

9 ,11
.
7.
,95
7 .33
4 .59
5 .29
7 .43
8 .45
7 .89

Chart 8.

Chart 9.

Interest Arbitrage, 3-Month Funds

Long Term Government Bellwether Bond Yields
10-year maturity, where available

Canada
France
Germany
Japan
Switzerland
Netherlands
United Kingdom
United States
Chart 10.

9 .13
.
8..37
7.
.62
4.
.64
5..48
7.,64
8.,81
7 .88

Stock Indices (Wednesday figures)

Canada
139 .,80
139 .02
140 .93
134 .92
France
147 .28
151. 83
152 .13
148 .05
Germany
118 „41
117. 41
115. 81
115 02
Japan
115. 94
115. 35
118 .62
113 .64
Netherlands
149 .49
149 .49
147 .43
145 .53
Switzerland
211. 27
214 .27
205. 87
211 .35
United Kingdom
184 .39
187 .64
182 .74
180 .29
United States
187 .47
187 .25
188. 18
180 .97
Indices (in order, rebased to 1986=100) are Toronto Composite, CAC General spliced
at 22dec93, PAZ Aktien, Tokyo SB (Topix), CBS All-General, Swiss Bank Index,
Financial Times Ordinary, NYSE Composite




136. 41
153 .23
115 „18
114 .97
148 .67
214. 00
183 .51
182. 61
to SBF25C

* %n 0% CO V c V 1

FEDERAL RESERVE statistical release
December 2, 1994

H.10(512)

FOREIGN EXCHANGE RATES
FOR THE WEEK ENDING

DECEMBER 2, 1994

The Board of Governors of :he Federal Reserve System is advised that the - e d e r a i Reserve Bank of New York has certified
for customs purposes the following noon buying rates >n New York City for cable transfers payable m foreign currencies:

COUNTRY
*AUSTRALIA
AUSTRIA
BELGIUM
CANADA
CHINA,P.R.
DENMARK
*EURO COMMUNITY
FINLAND
FRANCE
GERMANY
GREECE
HONG KONG
INDIA
*IRELAND
ITALY
JAPAN
MALAYSIA
MEXICO
NETHERLANDS
*NEW ZEALAND
NORWAY
PORTUGAL
SINGAPORE
SOUTH AFRICA
SOUTH KOREA
SPAIN
SRI LANKA
SWEDEN
SWITZERLAND
TAIWAN
THAILAND
*UNITED KINGDOM
MEMO:
**UNITED STATES

MONETARY
UNIT
DOLLAR
SCHILLING
FRANC
DOLLAR
YUAN
KRONE
ECU
MARKKA
FRANC
D. MARK
DRACHMA
DOLLAR
RUPEE
POUND
LIRA
YEN
RINGGIT
PESO
GUILDER
DOLLAR
KRONE
ESCUDO
DOLLAR
RAND
WON
PESETA
RUPEE
KRONA
FRANC
DOLLAR
BAHT
POUND

DOLLAR

Nov. 28

(CURRENCY UNITS PER DOLLAR)
Dec. 1
Nov. 30
Nov. 29

Dec. 2

0.7620
11.020
32.220
1.3785
8.5301
6.1295
1.2182
4.8590
5.3715
1.5647
241.23
7.7325
31.375
1.5385
1614.75
98.59
2.5575
3.4500
1.7534
0.6227
6.8295
159.91
1.4641
3.5465
798.00
130.700
49.500
7.5325
1.3275
26.290
25.040
1.5630

0.7634
11.029
32.240
1.3777
8.5293
6.1380
1.2177
4.8590
5.3750
1.5665
241.54
7.7334
31.390
1.5380
1615.50
98.95
2.5550
3.4420
1.7548
0.6233
6.8280
160.15
1.4620
3.5450
797.50
130.830
49.600
7.5470
1.3255
26.250
25.045
1.5643

0.7689
11.042
32.270
1.3752
8.5290
6.1400
1.2170
4.8740
5.3785
1.5685
241.83
7.7344
31.400
1.5370
1617.50
98.91
2.5563
3.4400
1.7561
0.6278
6.8240
160.23
1.4643
3.5530
797.40
130.940
49.500
7.5360
1.3250
26.270
25.048
1.5670

0.7679
11.081
32.380
1.3754
8.5284
6.1575
1.2132
4.8965
5.3980
1.5740
242.81
7.7345
31.423
1.5375
1617.75
99.40
2.5580
3.4400
1.7623
0.6299
6.8475
160.83
1.4665
3.5605
797.60
131.500
49.400
7.5485
1.3305
26.300
25.060
1.5652

0.7693
11.099
32.440
1.3720
8.5279
6.1685
1.2103
4.9040
5.4100
1.5765
243.18
7.7370
31.390
1.5300
1617.25
100.39
2.5589
3.4390
1.7657
0.6300
6.8610
161.96
1.4720
3.5680
797.10
131.700
49.300
7.5195
1.3310
26.350
25.095
1.5602

89.04

89.12

89.12

89.37

89.57

*VALUE IS U.S. DOLLARS
**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.
THIS RELEASE IS AVAILABLE ONLINE THROUGH THE FACILITIES OF THE DEPARTMENT OF COMMERCE'S
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