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S - Y y o * U » B A R Y OEC 1 0 1987 (516/517) • Selected Interest & Exchange Rates Weekly Series of Charts * v i December 7,1987 DIVISION OF INTERNATIONAL FINANCE Prepared by the FINANCIAL MARKETS SECTION BOARD OF GOVERNORS FEDERAL RESERVE SYSTEM Washington, D C. 20551 Table of Contents m 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 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 CHART 1 SPOT EXCHANGE INDICES DOLLAR PRICES OF FOREIGN CURRENCIES AND WEIGHTED AVERAGE VALUES (THIN LINE) AVERAGES FOR WEEK ENDING WEDNESDAY RATIO SC MARCH 1973= RATIO ! MARCH 200 180 FOREIGN CURRENCY PRICE OF U.S. DOLLAR 160 140 120 100 80 200 180 160 JAPANESE YEN GERMAN MARK 140 120 100 80 160 - 140 120 DUTCH GUILDER CANADIAN DOLLAR - 100 90 - 80 70 I 60 90 80 I U.K. POUND I I I I i i I ! FRENCH FRANC 70 6C 5C i 4C i i n — 12C SWISS FRANC BELGIAN FRANC IOC 9( 8( 7< I U _ ± 1985 1987 I I I I 1985 ill i i h i l i i 1987 CHART 2 3-MONTH FORWARD EXCHANGE RATES PREMIUM (+) OR (-) AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER AN ENT PER ANNUM 4 JAPANESE YEN CANADIAN DOLLAR 0 4 8 4 U. K. POUND SWISS FRANC 0 - 4 8 8 I I I I I I DUTCH GUILDER GERMAN MARK 4 — + 0 4 I I I I I I In 4 ITALIAN LIRA FRENCH FRANC 0 4 8 12 1985 1987 1985 1987 CHART 3 PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY U.S. [ PER FINE OUNCE U.S. DOLLARS PER F N E OUNCE 480 480 460 460 440 440 12.5 Kg BARS AFTERNOON FIXING PRICE 420 420 400 400 380 380 360 360 340 340 320 320 300 300 280 280 260 260 1984 1985 1986 1987 CHART 4 CALL MONEY RATES WEEKLY SERIES PER NT PER ANNUM PERCENT PER Al 16 FRANCE 12 U. S. FEDERAL FUNDS 8 4 A s JAPAN 0 I I I I I — I 16 CANADA 12 8 GERMANY 4 0 16 UNITED KINGDOM SWITZERLAND 12 8 4 NETHERLANDS w 0 1985 1987 1985 1987 CHART 5 3-MONTH INTEREST RATES WEEKLY SERIES NT PER ANNUM PERCENT PER Ah 14 16 — CANADIAN FINANCE CO. PAPER U.S. CD'S 12 14 10 — 8 10 WEIGHTED AVERAGE FOREIGN RATE 6 8 4 I I I I I I 6 16 14 UK. INTERBANK STERLING 14 _y-\ FRENCH INTERBANK RATE — 12 8 8 I I I I I I I I I I I I I6I I I I 10 10 — NETHERLANDS INTERBANK RATE 8 GERMAN INTERBANK RATE - 6 8 6 4 4 I I I I I I I I I I I I 2 10 — SWISS INTERBANK RATE JAPANESE 6ENSAKI RATE 8 / A . . 8 6 - 6 A . . V W J V 4 2 12 10 10 2 12 4 2 I I I I I 1985 I I I I I I I I I I I I I 1937 I I I I 1985 I 0 1987 CHART 6 EURO-DOLLAR DEPOSIT RATES LONDON AVERAGES FOR WEEK ENDING WEDNESDAY ENT PER ANNUM PERCENT PER AL 14 OVERNIGHT 3-MONTH 7-DAY 6-MONTH 1-MONTH 1-YEAR 12 10 8 6 4 14 12 10 8 6 4 14 12 10 8 6 4 1985 1987 1985 1987 # CHART 7 SELECTED EURO-DOLLAR AND U. S. MONEY MARKET RATES DIFFERENTIAL: F L U S H , FAVORS BORROWING IN U. S. AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER ANNUM PERCENT PER ANNUM 16 16 14 FEDERAL FUNDS 90-DAY CD' S D A S H E D LINE DASHED LINE 12 10 OVERNIGHT 3-MONTH E U R O - D O L L A R DEPOSITS E U R O - D O L L A R DEPOSITS I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I 4 2 DIFFERENTIAL DIFFERENTIAL —vyA^ I i i 111111111 m 111111111111 1985 • P E R C E N T ON D I F F E R E N T I A L S C A L E = 2 PERCENT ON RATE S C A L E 1987 I I I 1 1 1985 1 I I I I I I I I I I i 11111111111 1987 CHART 8 INTEREST ARBITRAGE: 3-MONTH FUNDS DIFFERENTIAL: PLUS(+), INDICATES FAVOR DOLLAR ASSETS AVERAGES FOR WEEK ENDING WEDNESDAY :NT PER ANNUM PERCENT PER Ah 18 14 CANADIAN FINANCE CO. PAPER, COVERED INTERBANK STERLING COVERED LONDON 10 6 EURO-DOLLAR DEPOSITS DASHED LINE U. S. COMMERCIAL PAPER DASHED LINE J_L 2 2 DIFFERENTIAL DIFFERENTIAL + 0 2 18 14 INTERBANK DM SWISS INTERBANK (SF) COVERED COVERED FRANKFURT 10 6 EURO-DOLLAR DEPOSITS DASHED LINE 11 2 2 EURO-DOLLAR DEPOSITS DASHED LINE DIFFERENTIAL DIFFERENTIAL 0 I 2 1985 1987 PERCENT ON D I F F E R E N T I A L S C A L E = 2 PERCENT ON RATE S C A L E I 1985 1987 CHART 9 LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES PERC PERCENT PER ANH T PER ANNUM 16 16 CANADA 14 14 12 12 10 10 8 8 6 6 14 10 12 UNITED KINGDOM JAPAN - 6 10 Ax 8 I 6 I I I I J - I 10 GERMANY __ 8 SWITZERLAND 6 4 I 2 I I I I I ill i i l n l i i iiiiiliiln 4 17 17 U S. CORPORATE 15 4 2 — 8 6 8 MONTHLY FRANCE 15 A & a BONDS 13 13 11 11 NETHERLANDS MONTHLY 9 9 7 7 5 5 1985 1987 1985 1987 CHART 10 INDUSTRIAL STOCK INDICES W E E K L Y SERIES RATIO SCALE 1969=100 RATIO SCALE 1969=100 500 400 y w 300 UNITED KINGDOM __ UNITED STATES - 200 I I I - - 1- - JAPAN FRANCE MY I I I I j I I I III III I I I SWITZERLAND 400 - A y v - ( CANADA 300 n v T i i i i I I I I I I I 400 NETHERLANDS 300 - 200 200 GERMANY — f L i A - - I 100 1985 1987 I I I I 1985 I I ill I l u l u 1987 SERIES NAME LAST VALUE PLOTTED DATE VALUE CHART 1. SPOT EXCHANGE MATES AND INDICES WEEKLY AVERAGES, NOON BUYING BATES (U.S. CENTS) GERHAN BARK JAPANESE TEN DUTCH GUILDER U.K. POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC BELGIAN FRANC ITALIAN LIRA SWEDISH IRON A DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. 2 2 2 2 2 2 2 2 2 2 60. 63 0.75214 53. 88 181. 65 76.27 17.82 73.84 2.89669 0.08213 16.69 DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. 2 2 2 2 2 2 2 2 2 170.57 196.94 154.68 73.47 76.02 80.28 237.56 114.14 46.65 2 2 2 2 2 2 2 2 2 2 2 89.90 171.33 194. 46 145.77 64.87 64.99 71.30 223.43 105.23 40.21 67.08 2 2 2 2 2 2 2 2 — 1. 18 -1. 06 4.05 -1.26 3.84 2.95 3.50 -3.44 >ICES, HARCH 1973 BASE RATES = 100 GERflAN HARK JAPANESE TEN DUTCH GUILDER O.K. POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC BELGIAN FRANC ITALIAN LIRA WEIGHTED AVERAGE EXCHANGE VALUE INDICES, BAB 1973 = 100 (G-10 COUNTRIES PLUS SWITZERLAND) U.S. DOLLAR GERHAN HARK JAPANESE TEN DUTCH GUILDER ILK. POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC BELGIAN FRANC ITALIAN LIRA SWEDISH KRONA DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. CHABT 2. 3-HO NTH FORWARD EXCHANGE RATES, PRBHIUH OR DISCOUNT CANADIAN DOLLAR ILK. POUND GERHAN HARK FRENCH FRANC SWISS FRANC DUTCH GUILDER JAPANESE YEN ITALIAN LIRA DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. SERIES LAST VALUE PLOTTED. DATE VALUE MAKE CHART 3. GOLD PRICE IK LONDON, APTESMOON FIXING U.S. DOLLARS PER FINE OUNCE DEC. 2 465. 45 DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. 2 2 2 2 2 2 2 2 2 6. 89 6. 78 8.90 8.07 3.31 3.51 8.25 4.54 6.80 DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. 2 2 2 2 2 2 2 2 2 7.60 3.67 3.90 8.84 8.89 3.85 8.59 4.78 6.11 DEC. DEC. DEC. DEC. DEC. DEC. 2 2 2 2 2 2 6.78 6.81 7.54 7.71 7.71 7. 99 CHART 4. CALL HONEY HATES 0. S. FEDERAL FUNDS OVERNIGHT EURO-DOLLAR DEPOSITS 0. K. CANADA GERMANY JAPAN FRANCE NETHERLANDS SWITZERLAND CHART 5. 3-HONTfl INTEREST RATES O.S. 90-DAY CD'S* SECONDARY BASKET GERMAN INTERBANK LOAN JAPANESE GBNSAKI RATE CANADIAN FINANCE PAPER INTERBANK STERLING SWISS INTERBANK LOAN FRENCH INTERBANK RATE NETHERLANDS INTERBANK RATE WEIGHTED AVERAGE FOREIGN INTEREST RATE (G-10 COUNTRIES PLUS SWITZERLAND) CHART 6. EURO-DOLLAR DEPOSIT RATES: LONDON OVERNIGHT 7-DAY 1-HO NTH 3-aONTH 6-MONTH 1-YEAR CHART 7. SELECTED EURO-DOLLAR AND U.S. MONEY MARKET BATES OVERNIGHT EURO-DOLLAR DEPOSITS U.S. FEDERAL FUNDS DIFFERENTIAL DEC. DEC. DEC. 2 2 2 6. 78 6.89 -0.11 3-MONTH EURO-DOLLAR DEPOSIT RATE U.S. 90-DAY CD'S, SECONDARY MARKET DIFFERENTIAL DEC. DEC. DEC. 2 2 2 7.71 7.60 -0.11 e < SERIES NAHE LAST VALUE PLOTTED DATE VALUE CHART 8. INTEREST ARBITRAGE, 3-HONTH FORDS EURO-DOLLAR DEPOSIT INTERBANK STERLING (LONDON), COVERED DIFFERENTIAL DEC. DEC. DEC. 2 2 2 7.71 7.81 -0.09 U.S. C01HERCIA1 PAPER CANADIAN FINANCE PAPER, COVERED DIFFERENTIAL DEC. DEC. DEC. 2 2 2 7.45 7.63 -0. 18 EUBO—DOLLAR DEPOSIT INTERBANK Dfl (FRANKFURT), COVERED DIFFERENTIAL DEC. DEC. DEC. 2 2 2 7.71 7.76 -0.04 EURO-DOLLAR DEPOSIT SWISS INTERBANK, COVERED DIFFERENTIAL DEC. DEC. DEC. 2 2 2 7.71 7. 73 -0.02 CHART 9. LOIG TERM GOVERHENT BOND IIELDS •MITED STATES GERMANY JAPAN SWITZERLAND CANADA FRANCE NETHERLANDS (HONTHLX) UNITED KINGDOM HOT. 27 MOV. NOV. NOV. NOV. NOV. OCT. NOV. 27 20 13 13 6 27 8.95 5.88 4.48 4.03 10.21 10.95 7.05 8.83 U.S. CORPORATE AAA BONDS CHART 10. 9.33 STOCK INDICES UNITED STATES UNITED KINGDOM CANADA GERHANY SWITZERLAND NETHERLANDS FRANCE JAPAN HAY 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 30*.19 503.27 •<oL2O^. i DERAL RESERVE statistical release DECEMBER H.IOC 512) 4, 1987 FOREIGN EXCHANGE RATES FOR THE MEEK ENDING DECEMBER 4, 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 *NEM 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: fUNITED STATES DOLLAR NOV. 30 (CURRENCY UNITS PER DOLLAR) DEC. 2 DEC. 1 DEC. 3 DEC. 4 70.50 11.530 34.340 1.3081 3.7314 6.3375 4.0530 5.5790 1.6405 129.400 7.7700 12.8900 162.00 1211.50 132.42 2.4870 1.8455 64.750 6.4000 134.100 2.0270 51.35 800.00 110.400 30.533 5.9610 1.3455 29.510 25.370 182.56 70.50 11.605 34.520 1.3138 3.7314 6.3660 4.0630 5.6160 1.6485 130.600 7.7690 12.9400 161.15 1216.00 133.00 2.4940 1.8555 64.900 6.4200 134.650 2.0295 50.75 799.70 111.450 30.533 5.9870 1.3610 29.480 25.360 181.80 70.26 11.640 34.620 1.3134 3.7314 6.3730 4.0770 5.6215 1.6535 130.520 7.7700 12.9700 160.55 1220.00 132.70 2.5000 1.8610 64.350 6.4350 135.200 2.0295 50.60 799.80 111.550 30.553 6.0030 1.3520 29.460 25.390 181.20 70.14 11.688 34.740 1.3117 3.7314 6.4250 4.0920 5.6425 1.6595 131.250 7.7710 12.9800 159.85 1225.50 132.90 2.5020 1.8675 64.600 6.4400 135.050 2.0330 50.50 799.50 112.350 30.553 6.0280 1.3590 29.430 25.390 180.65 69.63 11.730 34.860 1.3108 3.7314 6.4450 4.1100 5.6620 1.6690 131.150 7.7700 12.9500 159.35 1229.00 132.85 2.5035 1.8775 63.750 6.4650 136.050 2.0270 50.63 799.20 112.850 30.553 6.0450 1.3645 29.400 25.390 179.80 89.45 89.91 90.03 90.30 90.60 COUNTRIES. MARCH 1975 = 100. W I G H T S 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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