Full text of H.13 Selected Interest and Exchange Rates, Weekly Series of Charts : February 29, 1988

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

(V

(516/517)

V —

Selected Interest &
Exchange Rates
Weekly Series of Charts

February 29,1988

DIVISION OF
INTERNATIONAL FINANCE

Prepared by the
FINANCIAL MARKETS
SECTION

BOARD OF GOVERNORS
FEDERAL RESERVE SYSTEM
Washington, D C. 20551




Table of Contents

TABLES

SUBSCRIPTION RATES:

1. L A T E S T F I G U R E S P L O T T E D

Weekly $15.00 per year or $.40 each in the United
States, its possessions, Canada, and Mexico; 10 or

2. D A I L Y C E R T I F I E D S P O T
E X C H A N G E RATES-H.10 R E L E A S E

CHARTS
1. S P O T E X C H A N G E R A T E INDICES
2. 3 - M O N T H F O R W A R D E X C H A N G E R A T E S
3. G O L D PRICE- L O N D O N
4. C A L L M O N E Y R A T E S
5. 3 - M O N T H I N T E R E S T R A T E S
6. E U R O - D O L L A R DEPOSIT R A T E S
7. S E L E C T E D E U R O - D O L L A R A N D
U.S. M O N E Y M A R K E T R A T E S
8. I N T E R E S T A R B I T R A G E : 3 - M O N T H F U N D S
9. L O N G - T E R M G O V E R N M E N T B O N D Y I E L D S
10. I N D U S T R I A L S T O C K INDICES




more of the same issue t o 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.

CHART 1

SPOT EXCHANGE INDICES
DOLLAR PRICES OF FOREIGN CURRENCIES AND WEIGHTED AVERAGE VALUES (THIN LINE)
AVERAGES FOR WEEK ENDING WEDNESDAY
RATIO SCALE
MARCH 1 9 7 3 = 1 0 0

RATIO SCALE
MARCH 1973=

__

FOREIGN CURRENCY
PRICE OF U.S. DOLLAR

-

50
45

ITALIAN LIRA

-

40

-

^ ^ \ y v

35
30

-

m

I

1111 n l 11

I

I

lllllllllll

-

25

lllllllllll

20

—

JAPANESE YEN,
__

GERMAN MARK

/ ^ J ^ T

-

J

-

-

Vl

i

ill ii h i In

1

i

i

I

I

I

j

—

\

-

180
160

^

-

140

-

120

—

100

ZV

I

U.K. POUND

—

^
v\r

-

-

i

i

m

-

100

\

I

I

I

I

I

lllllllllll

/ V

-

70 -

-

-

60

-

i

i

i

i




•

i
1986

i

11111111111

ill ill ill11
1988

90
80

-

70

-

60

-

50

y V

-

SWISS FRANC
—

I

I

I

I
1986

I

240
200

-

180

-

160

-

140

-

120

lllllllllll

100

yM'

I

40
280

—

-

-

v

—

lllllllllll

-

80 -

50

70
60

S X.

FRENCH FRANC

—

90 -

80

-

—

BELGIAN FRANC

90

-

—

-

Ill III III II

i

-

lllllllllll

-

60

120

I

—

70

140

I

100
80

—

—

1

140

I lliilnl | |

CANADIAN DOLLAR

—

-

-

DUTCH GUILDER

40

180
160

120

—

50 -

—

-

r

—

90
80 -

220
200

—

1988

CHART 2

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

PERCENT PER ANNUM

4

8
CANADIAN DOLLAR

JAPANESE YEN

1

Ax/ *

X

V

I

I

I

I

I

I

I

I

I

I

I

I

4
12

U. K. POUND
-

SWISS FRANC

-

l\T"v X JV
I

I

I

r

1 1 1

I

I

0

i

8
DUTCH GUILDER

GERMAN MARK

K.

SyV\^y^W

I

I




I

I

I

I

I

I

I

I

I

I

lllllllllll

lllllllllll

ITALIAN LIRA

FRENCH FRANC

0

-

4

-

8

12
1986

1988

1986

1988

CHART 3

PRICE OF GOLD IN LONDON
AVERAGES FOR WEEK ENDING WEDNESDAY

U.S. t

LLARS PER FINE OUNCE

U.S. DOLLARS 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

I I I I I I I I
1985




1986

1987

1988

280

CHART 4

CALL MONEY RATES
WEEKLY SERIES

r PER ANNUM

PERCENT PER Ah

16

12

16

U. S. FEDERAL FUNDS

12

FRANCE

8

8

4

4

JAPAN

0

0

16

16
CANADA

12

12

8

GERMANY

8

4

4

Mil

0

II

0

20

16
UNITED KINGDOM
SWITZERLAND

16

12

12

8

8
4

NETHERLANDS

4

0

0




1986

1988

1986

1988

CHART 5

3-MONTH INTEREST RATES
WEEKLY SERIES

PERCENT PER Ah

NT PER ANNUM

16

12

10

CANADIAN FINANCE CO.
PAPER

"

U.S. CD'S

14

8

-

10

6
WEIGHTED AVERAGE
FOREIGN RATE

4

2

8
I

ilk

I

I I I I I I I I 6I I I

I

14

16

14

__

U.K. INTERBANK STERLING

FRENCH INTERBANK RATE

-

12

10

12

\

10

I

8

I

I

I

I

-

8
6

I

10

10

8

12

NETHERLANDS INTERBANK RATE

GERMAN INTERBANK RATE

-

8

6

6

4

4

I

2

I

I

I

I

I

11 III hill i I I I I I I I I 2I I I

8

10

8

JAPANESE GENSAKI RATE

-

SWISS INTERBANK RATE

-

6

4

\

4

I

2




6

1986

1988

I

I

I

I
1986

-

I

2
0

1988

CHART 6

EURO-DOLLAR DEPOSIT RATES LONDON
AVERAGES FOR WEEK ENDING WEDNESDAY

ENT PER ANNUM

PERCENT PER Al
—

OVERNIGHT

14

3-MONTH
-

12

10

8

6

I

I

I

I

I

I

I I I I I I I I 4I I I
14

7-DAY

6-MONTH
—

12

10

8

6

I

I

I

i ill Mill 11 iilnliilii

4
14

1-MONTH




1-YEAR
12

—

10

8

6

I
1986

1988

I

I

I

I
1986

I

I I IlllllI I I

4
1988

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

14

14

12

12

10

10
FEDERAL FUNDS
3-MONTH

DASHED LINE

EURO-DOLLAR DEPOSITS

OVERNIGHT
90-DAY CD' S

EURO-DOLLAR DEPOSITS

DASHED LINE

11111111111

11111111

11111111111111111111111

2
2

DIFFERENTIAL

DIFFERENTIAL

x

^ w \ V

/

V A

v

—
0

j

i

i

i

i

i

i

f 11111111111111111111111

1986
1 PERCENT ON DIFFERENTIAL SCALE = 2 PERCENT ON RATE SCALE




1988

I

I

I

I

I
1986

I

I I I I I I I I I II

111 1 1 1 1 1 1 1 1
1988

CHART 8

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

PERCENT PER ANNUM

16

12

16

INTERBANK STERLING
COVERED LONDON

CANADIAN FINANCE
CO. PAPER, COVERED

EURO-DOLLAR DEPOSITS

U. S. COMMERCIAL PAPER

DASHED LINE

DASHED LINE

I I ll I
DIFFERENTIAL

DIFFERENTIAL

2

ill

16

12

INTERBANK DM
COVERED FRANKFURT

SWISS INTERBANK (SF) COVERED

EURO-DOLLAR DEPOSITS

EURO-DOLLAR DEPOSITS

DASHED LINE

DASHED LINE

III I I
DIFFERENTIAL

DIFFERENTIAL

1986

1988

1 PERCENT ON DIFFERENTIAL SCALE = 2 PERCENT ON RATE SCALE




1986

1988

CHART 9

LONG-TERM GOVERNMENT BOND YIELDS
WEEKLY SERIES

PERCENT PER At

ENT PER ANNUM

16

16
-

UNITED STATES

14

CANADA

—

14

12

12

10

10

8

-

6

I

I

I

I

I

6

I

10

14

12

8

„

-

UNITED KINGDOM

10

\

/ M
v v /

JAPAN

-

6

V

V

8

^

6

8

-

2

uliiliilii

n i l i hill i

4

8

10
GERMANY

SWITZERLAND

6

8

4

6

2

4

17

15
U. S. CORPORATE

MONTHLY

15

13

—

Aaa BONDS

-

FRANCE

13

11

-

11

9

9

7

7

5

-

I

I

I




I

I
1986

NETHERLANDS

5

MONTHLY

I

3
1988

1986

1988

CHART 10

INDUSTRIAL STOCK INDICES
WEEKLY SERIES
RATIO SCALE
1969=100

RATIO SCALE
1969=100

500
400
UNITED STATES

UNITED KINGDOM
300

200

100

100
650

650
550

/Vv\ A/\

—

450 „
350

JAPAN

j

—

^

-

-

__

-

-

-

250

I

150

I

I

i

i

-

FRANCE

Zn

f

1

I

—

—

550

-

450

-

350

-

250

|,,

i

500

—

400

A \

SWITZERLAND

150
250

/

200

—

CANADA
300

V

—

I

200

I

I

i

i

/vV

—

i

I

500

I

I

I

I

I

150

11111111111

—

400 „

NETHERLANDS

-

400

-

-

300

-

-

200

—

GERMANY
300

-

200

-jr'

100

i

W

|

/

i

i




i

i
1986

i

100

11111111111
1988

1986

1988

SERIES NAME

LAST VALUE PLOTTED
DATE
VALUE

CHART 1. SPOT EXCHANGE BATES AMD INDICES
WEEKLY AVERAGES, MOON 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

FEB.
FEB.
FEB.
FEB.
FEB.
FEB.
FEB.
FEB.
FEB.
FEB.

24
24
24
24
24
24
24
24
24
24

58. 82
0.77265
52.39
176.74
76.7*
17.39
71.61
2. 81301
0.07986
16.53

FEB.
FEB.
FEB.
FEB.
FEB.
FEB.
FEB.
FEB.
FEB.

24
24
24
24
24
24
24
24
24

165.47
202.30
150.. 40
71.08
78.50
78.36
230.38
110.85
45.37

24
24
24
24
24
24
24
24
24
24
24

91.26
167.58
203.08
143.26
63.37
71.29
70. 32
219.14
103.32
39.52
67.24

FEB. 24
FEB. 24
FEB. 24
FEB. 24
FEB. 24
FEB. 24
FEB. 24
FEB. 24

-1.71
-2.32
3.39
-1.07
4.96
2.70
2.60
-3.57

INDICES, MARCH 1973 BASE BATES == 100
GERMAN MARK
JAPANESE YEN
DUTCH GUILDER
U.K. POUND
CANADIAN DOLLAR
FRENCH FRANC
SWISS FRANC
BELGIAN FRANC
ITALIAN LIRA

WEIGHTED AVERAGE EXCHANGE VALUE INDICES, MAR 1973 = 100
(G-10 COONTHIES PLUS SWITZERLAND)
U.S. DOLLAR
GERMAN HARK
JAPANESE YEN
DUTCH GUILDER
U. Km POUND
CANADIAN DOLLAR
FRENCH FRANC
SWISS FRANC
BELGIAN FRANC
ITALIAN LIRA
SWEDISH JtRONA

FEB.
FEB.
FEB.
FSB.
FEB.
FEB.
FEB.
FEB.
FEB.
FEB.
FEB.

CHART 2. 3-MONTH FORWARD EXCHANGE RATES, PREMIUM OR DISCOUNT
CANADIAN DOLLAR
U. K. POUND
GERMAN MARK
FRENCH FRANC
SWISS FRANC
DUTCH GUILDER
JAPANESE IEN
ITALIAN LIRA



S E M E S SAME

LAST VALUE PLOTTED
DATE
VALUE

CHART 3. GOLD PBICB IN LONDON, AFTBBNOON FIXING
U.S. . DOLLARS PEB FINB OUNCE

FEB. 24

442.72

FEB. 24
FEB. 24
FEB. 24
FEB. .24
FEB. 24
FEB. 24
FEB. 24
FEB. 24
FEB. 24

6.64
6.58
a. 40
8.30
3.34
3.29
7.16
4.07
0. 13

CHABT 4. CALL BOBBY BATES
O.S. FEDEBAL FUNDS
OYEBN1GBT BUBO-DOLLAR DEPOSITS
0. K.
CANADA
GEBBANY
JAPAN
FBANCE
NETBEBLABDS
S8IXZERLAND
CHABT 5. 3-MONTH INTEEEST BASES
0.5. 90-DAY CD'S, SECONDARY HABKET
GEBHAN INTERBANK LOAN
JAPANESE GBNSAKI BATE
CANADIAN FINANCE PAPBB
INTEBBANK STEBLING
SWISS INTEBBANK LOAN
FBBNCH INTERBANK BATE
NETBEBLABDS INTEBBANK BATE
WEIGHTED AVEBAGE FOREIGH INTEREST RATE
(G-10 COUNTBIES PLUS SWITZERLAND)

6. 62

FEB.
FEB.
FEB.
FEB.
FEB.
FEB.
FEB.
FEB.
FEB.

24
24
24
24
24
24
24
24
17

FEB.
FBB.
FEB.
FEB.
FEB.
FEB.

24
24
24
24
24
24

6. 58

0?BENIGHT BOBO-DOLLAB DEPOSITS
U.S. FEDEBAL FUNDS
DIFFEBENTIAL

FEB. 24
FEB. 24
FEB. 24

6.58
6.64
-0.06

3-BOHTH EURO-DOLLAR DEPOSIT BATE
U.S. 90-DAY CD'S, SECONDARY HABKET
DIFFEBENTIAL

FEB. 24
FEB. 24
PEB. 24

3.31
3. 82
a. 59
9.20

1.60

7.56
4.00
5.51

CBABT 6. BUBO-DOLLAB DEPOSIT BATES: LONDON
OVEBNIGBT
7-DAT
1-BONTH
3-BONTB
6-BONTH
1-IEAB

6.60

6.69
6.79

6. 86
7. 18

CBABT 7. SELECTED EBBO-DOLLAB AND D.S. HONEY HABKET BATES




6.79
6.62
0. 17

SERIES SAME

LAST VALUE PLOTTED
DATE
VALUE

CHART 6. INTEREST ARBITRAGE, 3-MONTH FUNDS
EURO-DOLLAR DEPOSIT
INTERBANK STERLING (LONDON), COVERED
DIFFERENTIAL

FEB. 24
FEB. 24
FEB. 24

6.79
6.83
-0.04

U.S. COMMERCIAL PAPER
CANADIAN FINANCE PAPER, COVERED
DIFFERENTIAL

FEB. 24
FEB. 24
FEB. 24

6.59
6.83
-0.24

EURO-DOLLAR DEPOSIT
INTERBANK DM (FRANKFURT), COVERED
DIFFERENTIAL

FEB. 24
FEB. 24
FEB. 24

6.79
6.73
0.06

EURO-DOLLAR DEPOSIT
SflISS INTERBANK, COVERED
DIFFERENTIAL

FEB. 24
FEB. 24
FEB. 24

6.79
6.58
0.21

19
19
5
5
5
12

6.29
5.74
4.23
4. 08
9.52
9.43
6.30
9. 14

CHART 9. LONG TERM GOVEHMENT BOND YIELDS
UNITED STATES
GERMANY
JAPAN
SWITZERLAND
CANADA
FRANCE
NETHERLANDS (MONTHLY)
UNITED KINGDOM

FEB.
FEB.
FEB.
FEB.
FEB.
FEB.
DEC.
FEB.

19

U.S. CORPORATE
AAA BONDS
CHART 10.

9.33

STOCK INDICES

UNITED STATES
UNITED KINGDOM
CANADA
GERMANY
SWITZERLAND
NETHERLANDS
FRANCE
JAPAN




MAI

FEB.
FEB.
FEB.
FEB.
FEB.
FEB.
FEB.
FEB.

17
17
17
17
17
17
37
17
I

275.88
307.00
310.07
190.22
174.22
215.35
290.40
529.32

.•'oL52vfV

FEDERAL RESERVE statistical release
H.10(512)

FEBRUARY 26, 1988

FOREIGN EXCHANGE RATES
FOR THE MEEK ENDING

FEBRUARY 26, 1988

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
•AUSTRALIA
AUSTRIA
BELGIUM
CANADA
CHINA,P.R.
DENMARK
FINLAND
FRANCE
GERMANY
GREECE
HONG KONG
INDIA
"IRELAND
ITALY
JAPAN
MALAYSIA
NETHERLANDS
*NEH 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
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

DOLLAR

FEB. 22

(CURRENCY UNITS PER DOLLAR)
FEB. 23
FEB. 24

FEB. 25

FEB. 26

71.98
11.913
35.460
1.2738
3.7314
6.4875
4.1165
5.7370
1.6955
135.550
7.7945
13.0300
156.95
1249.00
129.28
2.5865
1.9035
66.300
6.4125
138.750
2.0105
48.30
771.70
114.230
30.867
6.0395
1.3912
28.660
25.370
176.40

71.91
11.903
35.350
1.2706
3.7314
6.4600
4.1025
5.7245
1.6918
135.500
7.7955
13.0300
157.30
1246.50
128.78
2.5865
1.8990
66.550
6.3870
138.600
2.0150
48.00
769.80
113.970
30.867
6.0250
1.3902
28.660
25.330
176.63

71.67
11.910
35.420
1.2647
3.7314
6.4790
4.1050
5.7330
1.6953
135.450
7.7945
13.0300
157.30
1248.25
128.80
2.5880
1.9030
66.270
6.3840
138.650
2.0160
47.90
767.90
114.020
30.867
6.0230
1.3947
28.660
25.320
176.40

71.69
11.905
35.470
1.2645
3.7314
6.4850
4.1050
5.7385
1.6970
135.600
7.8010
13.0300
157.15
1249.75
128.80
2.5880
1.9045
66.280
6.3950
138.800
2.0145
47.73
767.90
114.230
30.865
6.0125
1.3960
28.670
25.310
176.35

71.90
11.856
35.260
1.2634
3.7314
6.4500
4.0825
5.7140
1.6875
135.300
7.7980
13.0200
157.80
1244.25
128.19
2.5860
1.8945
66.660
6.3700
138.570
2.0125
47.90
766.20
113.950
30.865
5.9900
1.3875
28.670
25.320
177.32

91.08

90.86

90.95

91.00

90.57

•INDEX 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
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