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(516/517) f L Selected Interest & Exchange Rates Weekly Series of Charts February 18,1986 Prepared by the FINANCIAL MARKETS SECTION DIVISION OF INTERNATIONAL FINANCE BOARD OF GOVERNORS FEDERAL RESERVE SYSTEM Washington, D C. 20551 Table of Contents 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 RATESH.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 DALE 973=100 200 180 RATIO ! MARCH 197 5=100 FOREIGN CURRENCY PRICE OF U.S. DOLLAR 50 45 ITALIAN LIRA 160 40 140 35 120 30 100 25 180 160 180 GERMAN MARK JAPANESE YEN 160 . 140 - 140 120 120 100 100 90 80 — I I I I I I 80 140 120 90 140 DUTCH GUILDER CANADIAN DOLLAR 120 100 100 90 90 80 80 70 70 60 60 90 90 80 U.K. POUND FRENCH FRANC 80 70 70 60 60 50 50 40 40 120 100 240 SWISS FRANC BELGIAN FRANC 200 90 180 80 160 70 140 60 120 100 50 1984 1986 1984 1986 CHART 2 3-MONTH FORWARD EXCHANGE RATES PREMIUM (+) OR ( - ) AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER AF :ENT PER ANNUM 4 8 DUTCH GUILDER CANADIAN DOLLAR + 4 0 I IIIIIII II 4 4 0 12 U. K. POUND SWISS FRANC + 0 - 4 4 I 8 8 8 I I I I I 11111111111 0 8 JAPANESE YEN GERMAN MARK 4 4 0 0 8 8 ITALIAN LIRA FRENCH FRANC 0 0 8 8 16 16 24 24 11 32 1984 I H 1986 1 I 1984 32 1986 CHART 3 PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY U.S. Dt ARS PER FINE OUNCE U.S. DOLLARS PER FINE ( 520 520 500 500 480 480 460 460 12.5 Kg BARS 440 440 AFTERNOON FIXING PRICE 420 420 400 400 380 380 360 360 340 340 320 320 300 300 280 280 260 J I 1983 i I 1984 I i i I i i I i i I i i I i i I i i I 1985 1986 i 260 CHART 4 CALL MONEY RATES WEEKLY SERIES PERCENT PER M :NT PER ANNUM 20 20 16 16 FRANCE U. S. FEDERAL FUNDS 12 12 8 8 4 4 JAPAN 0 0 20 20 16 SWITZERLAND 16 CANADA 12 12 8 8 4 4 I 0 I I 0 20 16 20 16 UNITED KINGDOM 12 12 GERMANY 8 Wy 4 i — — , . w^ 8 . 4 NETHERLANDS 0 0 1984 1986 1984 1986 CHART 5 3-MONTH INTEREST RATES WEEKLY SERIES NT PER ANNUM PERCENT PER AN 14 16 U . S . CD'S 12 CANADIAN FINANCE CO. PAPER - 14 10 8 — 12 10 WEIGHTED AVERAGE FOREIGN RATE 6 - 8 4 6 16 16 U.K. INTERBANK STERLING FRENCH INTERBANK RATE 14 14 12 12 10 10 8 8 10 10 NETHERLANDS INTERBANK RATE 8 GERMAN INTERBANK RATE - 6 8 6 4 - II 2 I I I I I I 4 2 9 8 SWISS INTERBANK RATE 8 - 6 JAPANESE GENSAKI RATE 7 4 6 2 I 5 1984 1986 I I I I 1984 I I II III III II 0 1986 CHART 6 EURO-DOLLAR DEPOSIT RATES LONDON AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER AL ENT PER ANNUM 16 16 3-MONTH OVERNIGHT 14 14 12 12 10 10 8 8 6 6 16 16 6-MONTH 7-DAY 14 14 12 12 10 10 8 8 6 6 16 16 1-MONTH 1-YEAR 14 14 12 12 10 10 8 8 6 6 1984 1986 1984 1986 CHART 7 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 16 16 14 14 FEDERAL FUNDS EURO-DOLLAR DEPOSITS DASHED LINE 3-MONTH 12 12 10 10 90-DAY CD* S OVERNIGHT EURO-DOLLAR DEPOSITS J I I 1111111111111111111111111 L I I I I I I I 111111111111111111111111 4 2 DIFFERENTIAL DIFFERENTIAL - / V Y V > 0 J I I 1111111111111111111111111 1984 1 PERCENT ON DIFFERENTIAL SCALE = 2 PERCENT ON RATE SCALE 1986 I I I I I I 1984 I 11111111111 1 1 1 1 1 1 11 1 1 1 1 1986 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 18 CANADIAN FINANCE CO. PAPER, COVERED EURO-DOLLAR DEPOSITS 14 DASHED LINE 14 10 10 INTERBANK STERLING COVERED LONDON 6 2 I I 11 I I U. S. COMMERCIAL PAPER 6 I 2 I I I I I 2 DIFFERENTIAL 2 DIFFERENTIAL + 0 2 0 I I I I I I I M i l l 2 18 14 18 INTERBANK DM SWISS INTERBANK (SF) COVERED COVERED FRANKFURT 14 10 6 10 EURO-DOLLAR DEPOSITS EURO-DOLLAR DEPOSITS DASHED LINE 6 DASHED LINE 2 11 2 2 2 DIFFERENTIAL 0 DIFFERENTIAL + ^ Y x A v A / v V W y v > - I 2 I 1984 / V 0 V v v A z ^ I 2 1986 I PERCENT ON DIFFERENTIAL SCALE = 2 PERCENT ON RATE SCALE 1984 1986 CHART 9 LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES :NT PER ANNUM PERCENT PER AN 17 17 UNITED STATES 15 CANADA 15 13 13 11 11 9 9 7 7 15 9 13 UNITED KINGDOM 7 SWITZERLAND 11 5 9 3 I 7 I II I I II I I 1 10 10 IGERMANY JAPAN 8 - 6 8 6 4 I I I I I I 4 I I I I I I I I I I I 18 18 U. S. CORPORATE MONTHLY 16 - 16 IFRANCE , Aaa BONDS 14 14 12 — INETHERLANDS MONTHLY - 10 10 8 8 6 12 I 1984 I I 1986 I I I I 1984 I I I I I I I I I I I I I 11111111111 1986 6 CHART 10 INDUSTRIAL STOCK INDICES WEEKLY SERIES RATIO SCALE 1969=100 RATIO SCALE 1969=100 300 300 260 - - 220 180 140 UNITED STATES — Avx yvAvxZX > UNITED KINGDOM - - - I IIIIIIIIII 340 — 300 - 260 - 220 — — - J - 100 r 300 — 260 — 220 — - INETHERLANDS - 140 - - J aA/ i i GERMANY - i I I I 11111111111 <1I1<I<<I<1 — J - / vvA / FRANCE 180 - /-V 100 180 w - — jT — A A SWITZERLAND 140 - 100 I I 1984 I 1986 1984 1986 SERIES CHART 1 - LAST VALUE PLOTTED DATE VALUE NAME S P O T EXCHANGE BATES AND I N D I C E S WEEKLY AVERAGES, NOON BUYING KATES (U.S. CENTS) GERMAN MARK J A P A N E S E YEN DUTCH GUILDER 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 BATES = WEIGHTED AVERAGE EXCHANGE VALUE I N D I C E S , ( G - 1 0 COUNTRIES P L U S SWITZERLAND) U. S . DOLLAR GERMAN MARK J A P A N E S E YEN DUTCH GUILDER U . K . POUND CANADIAN DOLLAR FRENCH FRANC S W I S S FRANC BELGIAN 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 GUILDER J A P A N E S E YEN ITALIAN LIRA 12 12 12 12 12 12 12 12 12 12 4 1 . 91 0. 5 2 9 6 2 3 7 . 11 1 4 0 . 53 71. 33 13. 67 4 9 . 92 2. 04832 0. 0 6 1 5 7 13. 32 FEB. FEB. FEB. FEB. FEB. FEB. FEB. FEB. FEB. 12 12 12 12 12 12 12 12 12 117. 138. 106. 56. 71. 61. 160. 80. 34. 91 67 52 84 10 60 59 71 97 12 12 12 12 12 12 12 12 12 12 12 121. 145. 170. 125. 63. 81. 6 8. 190. 93. 37. 67. 14 87 77 74 32 47 94 14 55 97 70 12 12 12 12 12 12 12 12 - 3 .,47 - 4 . ,48 3 .,44 - 7 , 20 4 ., 0 6 2 .,20 1., 9 0 - 1 0 .,51 100 GERMAN MARK J A P A N E S E YEN DUTCH GUILDER U . K . POUND CANADIAN DOLLAR FRENCH FRANC S W I S S FRANC BELGIAN FRANC ITALIAN LIRA CHART 2 . FEB. FEB. FEB. FEB. FEB. FEB. FEB. FEB. FEB. FEB. MAK 1 9 7 3 = 100 FEB. FEB. FEB. FEB. FEB. FEB. FEB. FEB. FEB. FEB. FEB. PREMIUM OR DISCOUNT FEB. FEB. FEB. FEB. FEB. FEB. FEB. FEB. LAST VALUE PLOTTED DATE VALUE S E R I E S NAME CHART 3 . GOLD P R I C E I N LONDON, AFTERNOON F I X I N G U.S. CHART 4 . DOLLARS PER F I N E OUNCE EURO-DOLLAR D E P O S I T R A T E S : FEB. FEB. FEB. FEB. FEB. FEB. FEB. FEB. FEB. 12 12 12 12 12 12 12 12 12 7.85 7.75 12.55 11.25 4.36 5.72 8. 88 5.74 1.00 FEB. FEB. FEB. FEB. FEB. FEB. FEB. FEB. FEB. 12 12 12 12 12 12 12 12 12 7.77 4.49 6 . 10 11.68 12.74 3.88 8. 90 5.71 7.85 FEB. FEB. FEB. FEB. FEB. FEB. 12 12 12 12 12 12 7.75 7.84 7.91 7.95 7 . 98 8.15 LONDON OVERNIGHT 7-DAY 1-MONTH 3-MONTH 6-MONTH 1-YEAR . 337.50 3-MONTH I N T E R E S T RATES U . S . 9 0 - D A Y C D ' S , SECONDARY MARKET GERMAN INTERBANK LOAN J A P A N E S E GENSAKI RATE CANADIAN FINANCE PAPER INTERBANK S T E R L I N G SWISS INTERBANK LOAN FRENCH INTERBANK RATE NETHERLANDS INTERBANK RATE WEIGHTED AVERAGE FOREIGN I N T E R E S T RATE ( G - 1 0 COUNTRIES PLUS SWITZERLAND) CHART 6 . 12 CALL MONEY RATES U . S . FEDERAL FUNDS OVERNIGHT EURO-DOLLAR D E P O S I T S U.K. CANADA GERMANY JAPAN FRANCE NETHERLANDS SWITZERLAND CHART 5 . FEB. SELECTED EURO-DOLLAR AND U . S . MONEY MARKET RATES OVERNIGHT EURO-DOLLAR D E P O S I T S U . S . FEDERAL FUNDS DIFFERENTIAL FEB. FEB. FEB. 12 12 12 7.75 7.85 - 0 . 10 3-MONTH EURO-DOLLAR D E P O S I T RATE U . S . 9 0 - D A Y C D ' S , SECONDARY MARKET DIFFERENTIAL FEB. FEB. FEB. 12 12 12 7.95 7.77 0.18 LAST 7ALUE PLOTTED DATE VALUE S E R I E S SAME CHART 8 , INTEREST ARBITRAGE, 3-MONTH FUNDS EURO-DOLLAR D E P O S I T INTERBANK S T E R L I N G (LONDON), DIFFERENTIAL FEB. FEB. FEB. 12 12 12 7 . 95 8 . 12 - 0 . 16 FEB. FEB. FEB. 12 12 12 7. 67 8 . 11 - 0 . 44 EURO-DOLLAR D E P O S I T INTERBANK DM ( F R A N K F U R T ) , COVERED DIFFERENTIAL FEB. FEB. FEB. 12 12 12 7. 95 7. 96 - 0 . 01 EURO-DOLLAR D E P O S I T SWISS I N T E R B A N K , COVERED DIFFERENTIAL FEB. FEB. FEB. 12 12 12 7. 95 7. 98 - 0 . 03 FEB. FEB. JAN. JAN. JAN. JAN. DEC. FEB. 7 7 9.02 6.23 6.29 4.40 1 0 . 49 10.97 6.96 10.27 U . S . COMMERCIAL PAPER CANADIAN FINANCE P A P E R , DIFFERENTIAL CHART 9 . COVERED LONG TERM GOVERMENT BOND Y I E L D S UNITED STATES GERMANY JAPAN (MONTHLY) SWITZERLAND CANADA FRANCE NETHERLANDS (MONTHLY) UNITED KINGDOM U.S. COVERED 24 31 31 7 CORPORATE AAA BONDS CHART 1 0 - 10.05 STOCK I N D I C E S UNITED STATES UNITED KINGDOM CANADA GERMANY SWITZERLAND NETHERLANDS FRANCE JAPAN JAN. FEB. FEB. FEB. FEB. FEB. FEB. FEB. FEB. 5 5 5 5 5 5 5 5 216.86 255.71 274.51 287.07 195.57 300.02 280.64 278.72 FEDERAL RESERVE statistical release . H.10 (512) & %v FEBBUABt H, 19U6 FOREIGN EXCHANGE RATES FOB THE WEEK ENDING FEBKOAitX 14, 198b 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: MONETARY UNIT COUNTRY •AUSTRALIA AUSTRIA BELGIUM BRAZIL CANADA CHINA,P.R. DENMARK FINLAND FRANCE GERMANY GREECE HONG KONG INDIA •IRELAND ITALY JAPAN MALAYSIA MEXICO NETHERLANDS • N E B ZEALAND NORWAY PORTUGAL SINGAPORE •SOUTH AFRICA SOUTH KOREA SPAIN S R I LANKA SWEDE* SWITZERLAND TAIWAN THAILAND • U N I T E D KINGDOM DOLLAR SCHILLING FRANC CRUZEIRO DOLLAR YUAN KRONE MARKKA FRANC D . MARK DRACHMA DOLLAR RUPEE POUND LIRA YEN RINGGIT PESO GUILDER DOLLAR KRONE ESCUDO DOLLAR RAND SON PESETA RUPEE KRONA FRANC DOLLAR BAHT POUND MEMO: •UNITED STATES DOLLAR FEB. 10 (CURRENCY P N I T S PER DOLLAR F E B . 11 F E B . 12 FEB. 13 FSB. 14 69.40 16.770 48.820 12655.00 1.3960 3.2159 8.7815 5.3400 7.3100 2.3855 146.200 7.8020 12.5200 126.80 1623.00 188.15 2.4630 NA 2.6960 54.150 7.4100 155.600 2.1270 45.60 890.00 150.000 27.602 7.5140 2.0065 39.330 26.590 140.85 68.93 16.695 48.620 12655.00 1.3985 3.2159 8.7525 5.3310 7.2925 2.3750 .45.800 7.8080 12.4900 127.55 1617.00 187.45 2.4600 NA 2.6835 54.250 7.3800 154.750 2.1270 46.40 889.70 149.500 27.590 7.4850 1.9820 NA 26.590 141.20 68.49 16.655 48.440 12655.00 1.3990 3.2159 8.7300 5.3110 7.2590 2.3678 144.950 7. 8075 12.4400 127.80 1613.00 186.72 2.4595 NA 2.6745 54.400 7.3700 154.150 2.1290 4 6 . 80 889.30 149.150 27. 590 7.4750 1.9690 NA 26.510 140.95 69.1j 16.540 46.110 12875.00 1.4025 3.^159 8.6750 5.2800 7.2150 2.3490 145. 000 7.8060 12.4300 128.25 1604.00 182.30 2.4585 NA 2.6530 53.420 7.3450 153.800 2.1375 47.25 888.90 148.400 27.587 7.4500 1.9455 39.310 26.500 141.75 70.18 1to.490 48.030 12985.00 1.3970 3.2159 8.6670 5.2640 7.20^5 2.34/0 144.400 7 . 8 0 50 12.4400 129.05 1597.00 182.00 2.4595 NA 2.6515 53.600 7.3350 153.200 2.1420 4 7 . 65 888.50 147.800 27.587 7.4375 1.9450 39.290 26.460 141.83 120.99 120.58 120.27 119.27 119.07 • I N D E X OF WEIGHTED AVERAGE EXCHANGE VALUE OF U . S . DOLLAR A G A I N S T C U R R E N C I E S OF OTHER G - 1 0 C O U N T R I E S . MARCH 1 9 7 3 = 1 0 0 . WEIGHTS ARE 1 9 7 2 - 7 6 GLOBAL TRADE OF EACH @F THE 1 0 C O U N T R I E S . S E R I E S R E V I S E D AS OF AUGUST 1 9 7 8 . FOR D E S C R I P T I O N AND BACK DATA, S E E " I N D E X OF THE WEIGHTED-AVERAGE EXCHANGE VALUE OF THE U . S . DOLLAR: R E V I S I O N " ON PAGE 7 0 0 OF THE AUGUST 1 9 7 8 FEDERAL R E S E R V E B U L L E T I N . •VALUE I S U.S. CENTS
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