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(516/517) Selected Interest S? Exchange Rates Weekly Series of Charts February 21,1989 DIVISION OF INTERNATIONAL FINANCE Prepared by the FINANCIAL MARKETS SECTION BOARD OF GOVERNORS FEDERAL RESERVE SYSTEM WMhlnglonJDuCL 20661 , Table of Contents TABLES 1. LATEST FIGURES PLOTTED 2. DAILY CERTIFIED SPOT EXCHANGE RATESH.10 RELEASE CHARTS 1. 2. 3. 4. 5. SPOT EXCHANGE RATE INDICES 3-MONTH FORWARD EXCHANGE RATES GOLD PRICE—LONDON CALL MONEY RATES 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 same 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 O F FOREIGN CURRENCIES AND WEIGHTED AVERAGE VALUES (THIN LINE) AVERAGES FOR WEEK ENDING WEDNESDAY SCALE 11973=100 140 120 RATIOS MARCH 197' 1=100 140 FOREIGN CURRENCY PRICE O F U.S. DOLLAR __ BELGIAN FRANC 120 100 100 90 90 80 80 I 70 I I I I 70 I 280 240 280 S W S S FRANC JAPANESE YEN 240 200 200 180 180 160 160 140 - 120 I I I I I 120 I 100 100 CANADIAN DOLLAR 90 80 140 90 U.K. POUND 80 70 70 60 60 50 I I I I I I I 111 I I I I ll 50 200 180 200 GERMAN MARK DUTCH GUILDER 180 160 160 140 140 120 120 100 100 120 60 __ 100 90 ITALIAN LIRA 50 FRENCH FRANC 45 80 40 70 35 60 30 50 I 1987 1989 I I I I 1987 25 I 1989 CHART2 3-MONTH FORWARD EXCHANGE RATES PREMIUM (+) OR (-) AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER ANNUM PERCENT PER ANNUM 4 4 U. K. POUND CANADIAN DOLLAR \rI I I A / i i ^ A*J "S~\rsT V i 1 1 1 GERMAN MARK I I - i l l ii h i l l i I i i SWISS FRANC i I I II |II|II|I I I DUTCH GUILDER / v I JAPANESE YEN x I I V/ ~ I I I I I I Hi.III.Ill . . l u l l . h . FRENCH FRANC I I I I I I i ill H i l l n ITALIAN LIRA 12 1987 1989 1987 1989 CHART3 PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY U.S. LIARS PER FINE OUNCE U.S. DOLLARS PER FINE Ol 520 520 500 500 12.5 Kg BARS AFTERNOON FIXING PRICE 480 480 460 460 440 440 420 420 400 400 380 380 360 360 340 340 320 320 300 J I 1986 L m 1987 I i i I i 1988 i I i i I i i I i i I 1989 i i I i i 300 CHART4 CALL MONEY RATES WEEKLY SERIES PEF ENT PER ANNUM PERCENT PER AW UM 16 16 12 U.S. FEDERAL FUNDS 12 FRANCE 8 8 JAPAN 4 4 0 I I I I 0 16 16 CANADA 12 12 GERMANY 8 8 4 4 0 I I I I I I I 1 1 1 0 16 20 UNITED KINGDOM SWITZERLAND 16 12 12 8 8 4 i NETHERLANDS 0 1987 1989 4 £ 1987 0 1989 CHART 5 3-MONTH INTEREST RATES WEEKLY S E R I E S PERCENT PER ANN JM ENT PER ANNUM 12 12 FRENCH INTERBANK RATE 10 10 U.S. C D ' S 8 8 6 6 WEIGHTED AVERAGE FOREIGN RATE 4 4 l_L 2 2 16 16 14 U.K. INTERBANK STERLING - 14 - 12 CANADIAN FINANCE C O . PAPER 12 10 10 8 - I 6 I I 6 8 8 6 8 - GERMAN INTERBANK RATE S W I S S INTERBANK RATE - 6 4 4 2 - 0 I I I I I 2 0 I 10 10 8 8 J A P A N E S E GENSAKI RATE 6 6 4 4 2 2 1987 1989 1987 1989 CHART 6 EURO-DOLLAR DEPOSIT RATES LONDON AVERAGES FOR WEEK ENDING WEDNESDAY PEI DENT PER ANNUM PERCENT PER ANI 14 14 OVERNIGHT 12 3-MONTH 12 10 10 8 8 6 6 4 4 14 14 12 7-DAY 6-MONTH 12 10 10 8 8 6 6 4 4 14 14 12 1-MONTH 1-YEAR - — 12 10 10 8 8 6 - I 4 1987 1989 I I I I 1987 I 6 4 1989 CHART7 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 14 14 12 - 10 - - 12 - 10 - 8 — 4 3-MONTH EURO-DOLLAR DEPOSITS FEDERAL FUNDS DASHED LINE 6 OVERNIGHT EURO-DOLLAR DEPOSITS 4 90-DAY C D ' S DASHED LINE — J I l 111111111111111111111111 I IIIIIIIIIII 2 2 DIFFERENTIAL DIFFERENTIAL + 0 i i i i J I I 1111111 M 111111111111111 1987 1 PERCENT ON DIFFERENTIAL SCALE = 2 PERCENT ON RATE SCALE 1989 I I I I I 1987 I 11111111111 M 1111111 M 1989 CHART8 INTEREST ARBITRAGE: 3-MONTH FUNDS DIFFERENTIAL: PLUS(+), INDICATES FAVOR DOLLAR A S S E T S AVERAGES FOR WEEK ENDING WEDNESDAY ENTPER ANNUM PERCENT PER ANK 16 16 12 12 CANADIAN FINANCE CO. PAPER, COVERED INTERBANK STERLING COVERED LONDON 8 8 EURO-DOLLAR DEPOSITS DASHED LINE 4 U.S. COMMERCIAL PAPER DASHED LINE 4 II 0 0 2 2 DIFFERENTIAL DIFFERENTIAL + + 0 0 ilnliilii 2 1111111111 i_L I I I l I I I I I I2 I 16 16 12 12 INTERBANK DM COVERED FRANKFURT S W I S S INTERBANK (SF) COVERED 8 8 EURO-DOLLAR DEPOSITS DASHED LINE 4 I 0 EURO-DOLLAR DEPOSITS DASHED LINE I n I ii I n h 1111111 h 11 n I I I I I I 4 lii h i lii h i I n h i l i ill i 2 2 DIFFERENTIAL DIFFERENTIAL + + 'A 0 2 0 I I I I I 1987 I lii h i lii h i li i h i h Uii 1989 1 PERCENT ON DIFFERENTIAL SCALE = 2 PERCENT ON RATE SCALE I I I I I 1987 I 0 II III III I I I II III l u l l ! 1989 2 CHART9 LONG-TERM GOVERNMENT BOND YIELDS WEEKLY S E R I E S PERCENT PER ANf )ENT PER ANNUM 14 14 UNITED S T A T E S 12 CANADA 12 ^ 10 « / v \ V 10 8 8 6 I I I I I I 6 14 14 UNITED KINGDOM 12 FRANCE 12 10 10 8 8 6 6 10 10 8 __ SWITZERLAND - JAPAN - 8 6 6 4 " 2 I I I I I — I 4 2 10 10 NETHERLANDS MONTHLY 8 - GERMANY - 8 6 6 4 4 2 I I I I 1987 1989 I I I I 1987 I 2 1989 CHART 10 INDUSTRIAL STOCK INDICES WEEKLY SERIES RATIO SCALE 1969-100 RATIO SCALE 1969*100 600 500 - - UNITED S T A T E S 400 - NETHERLANDS A 300 200 150 '^/lr / - i i i i i iiiniiiiii i iiiniiiiii -L_L — JAPAN GERMANY — - I I I I I I SWITZERLAND - FRANCE - I I I I I I CANADA UNITED KINGDOM V ' I I I i I I 1907 y \ T , w V - r I 1989 1987 1989 SERIES CHART 1 . LAST VALUE PLOTTED DATE VALUE NAME SPOT EXCHANGE RATES AND I N D I C E S WEEKLY AVERAGES, NOON BUYING RATES (U.S. CENTS) 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 BASE SATES = U. S . DOLLAR GERMAN MARK JAPANESE YEN DUTCH GUILDER U . K . POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC BELGIAN FRANC ITALIAN LIRA SWEDISH KRONA 3-MONTH FO.RWARD EXCHANGE R A T E S , 5 3 . 85 0. 7 8 3 0 1 4 7. 69 1 7 6 . 01 8 4 . 45 15. 82 6 3 .,41 2. 5 7 0 3 6 0. 0 7 3 8 0 15. 82 FEB. FEB. FEB. FEB. FEB. 15 15 15 15 15 15 15 15 15 151.50 205.02 136.92 7 1 . 19 84.17 71.31 204.01 101.29 4 1. 9 3 15 15 15 15 15 15 15 15 15 15 15 95.86 157.94 215.26 135.04 66.24 8 0 . 12 6 6 . 09 201.23 9 7 . 86 37.84 66.85 FEB. FEB. FEB. FEB. WEIGHTED AVERAGE EXCHANGE VALUE I N D I C E S , ( G - 1 0 COUNTRIES PLUS SWITZERLAND) CANADIAN DOLLAR U. K. POUND GERMAN MASK FRENCH FRANC SWISS FRANC DUTCH GUILDER JAPANESE YEN ITALIAN L I S A 15 15 15 15 15 15 15 15 15 15 100 GERMAN MARK JAPANESE YEN DUTCH GUILDER U . K . POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC BELGIAN FRANC ITALIAN LIRA (I 2 . FEB. FEB. FEB. FEB. FEB. FEB. FEB. FEB. FEB. FEB. MAR 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. 15 15 15 15 15 15 15 15 — 1. 8 6 -1.91 3 . 15 0.50 3 . 78 2.86 5 . 06 - 2 . 26 SERIES CHART 3 . LAST VALUE PLOTTED DATE VALUE NAME 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 FEB. 15 386.60 FEB. FEB. FEB. FEB. FEB. FEB. FEB. FEB. FEB. 15 15 15 15 15 15 15 15 15 9 . 27 9.09 1 2 . 82 10.85 5.95 3.81 8 . 56 5. 83 4.88 FEB. FEB. FEB. FEB. FEB. FEB. FEB. FEB. FEB. 15 15 15 15 15 15 15 15 15 9.47 6.30 4.21 11.63 12.93 5 . 67 8 . 96 6 . 70 7.93 FEB. FEB. FEB. FEB. FEB. FEB. 15 15 15 15 15 15 9.09 9.18 9.36 9 . 58 9.74 10.00 CALL HONEY 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 . 3-MONTH I N T E R E S T BATES U . S . 9 0 - D A Y C D ' S , SECONDARY MARKET GERMAN! INTERBANK LOAN JAPANESE GENSAKI HATE CANADIAN FINANCE PAPER INTERBANK STERLING SWISS INTERBANK LOAN FRENCH INTERBANK RATE NETHERLANDS INTERBANK RATE WEIGHTED AVERAGE FOREIGN I N T E R E S T HATE 1 G - 1 0 COUNTRIES P L U S SWITZERLAND) CHART B . EURO-DOLLAR D E P O S I T R A T E S : LONDON OVERNIGHT 7-DAY 1-MONTH 3-MONTH 6-MONTH 1-YEAR CHART 7 . 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. 15 15 15 9 . 09 9. 27 - 0 . 18 3-MONTH EUBO-DOLLAR DEPOSIT RATE U . S . 9 0 - D A Y C D ' S , SECONDARY MARKET DIFFERENTIAL FEB. FEB. FEB. 15 15 15 9 . 58 9 . 47 0 . 11 LAST VALUE PLOTTED DATE VALUE S E R I E S NAME CHART 8 . I N T E B E S T ARBITRAGE, 3-MONTH FUNDS EURO-DOLLAR D E P O S I T INTERBANK STERLING (LONDON), DIFFERENTIAL U . S . COMMERCIAL PAPER CANADIAN FINANCE PAPER, DIFFERENTIAL COVERED COVERED EURO-DOLLAR D E P O S I T INTERBANK DM ( F R A N K F U R T ) , DIFFERENTIAL COVERED EURO-DOLLAR D E P O S I T S i i I S S INTERBANK, COVERED DIFFERENTIAL CHART 9 . - 1 . 38 FEB. FEB. FEB. 15 15 15 9 . 31 9. 72 - 0 . 41 FEB. FEB. FEB. 15 15 15 9 . 58 9 . 50 FEB. FEB. FEB. 15 15 9 . 58 9 . 51 0. 07 FEB. FEB. FEB. FEB. FEB. FEB. DEC. FEB. 10 10 3 10 3 3 15 9 . 58 10. 96 o. ,08 10 9.05 6.74 4.26 4.66 10.21 8. 97 6.42 8.71 CORPORATE AAA BONDS CHART 1 0 . 15 15 15 LONG TERM GOVERMENT BOND Y I E L D S UNITED STATES GERMANY JAPAN SWITZERLAND CANADA FRANCE NETHERLANDS (MONTHLY) UNITED KINGDOM U.S. FEB. FEB. FEB. HAT 9.33 STOCK I N D I C E S UNITED STATES UNITED KINGDOM CANADA GERMANY SWITZERLAND NETHERLANDS FRANCE JAPAN FEB. FEB. FEB. FEB. FEB. FEB. FEB. FEB. 15 15 15 15 15 15 15 15 314.00 368.78 357.53 239.94 217.02 316.60 44 5. 56 654.47 FEDERAL RESERVE statistical release H.10(512) FEBRUARY 17, 1989 FOREIGN EXCHANGE RATES FOR THE WEEK ENDING FEBRUARY 17, 1989 The Board of Governors of t h e 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 *NEH 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: •UNITED STATES DOLLAR FEB. 13 88.74 13.165 39.200 1.1865 3.7314 7.2780 4.3180 6.3640 1.8700 156.050 7.7980 15.2400 142.80 1363.25 128.40 2.7330 2.1115 61.750 6.7530 153.100 1.9300 2.4530 680.60 116.200 33.148 6.3530 1.5895 27.660 25.400 174.95 96.44 (CURRENCY UNITS PER DOLLAR) FEB. 14 FEB. 15 FEB. 16 FEB. 17 88.38 13.016 38.790 1.1840 3.7314 7.2065 87.31 12.972 38.610 1.1805 3.7314 7.1750 83.75 12.968 38.620 1.1860 3.7314 7.1760 82.30 12.922 38.540 1.1895 3.7314 7.1530 4.2880 4.2800 4.2830 6.2910 1.8495 155.200 7.8030 15.2200 144.15 1348.00 126.73 2.7330 2.0885 62.070 6.7050 151.550 1.9300 2.4530 680.70 115.220 33.107 6.3050 1.5700 27.660 25.380 176.85 4.2780 6.2790 1.8440 153.280 7.8020 15.2000 144.80 1350.50 126.40 2.7295 2.0820 61.700 6.6900 150.650 1.9235 2.4550 679.80 114.400 33.098 6.2930 1.5635 27.660 25.300 177.33 6.2730 1.8423 154.350 7.8015 15.2300 144.60 1347.25 126.32 2.7320 2.0800 61.420 6.6960 151.320 1.9240 2.4800 678.90 114.950 NA 6.3070 1.5642 27.670 25.330 177.08 6.2560 1.8370 153.870 7.8020 15.1900 145.00 1345.00 125.90 2.7275 2.0740 61.600 6.6810 150.700 1.9220 2.4830 679.00 114.350 33.057 6.2950 1.5600 27.770 25.320 177.60 95.44 95.21 95.21 95.01 SINDEX OF WEIGHTED AVERAGE EXCHANGE VALUE OF U . S . DOLLAR AGAINST CURRENCIES OF OTHER G-10 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 NEIGHTED-AVERAGE EXCHANGE VALUE OF THE U . S . DOLLAR: REVISION" ON PAGE 700 OF THE AUGUST 1978 FEDERAL RESERVE BULLETIN. •VALUE I S U . S . CENTS
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