The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
(516/517) Selected Interest & Exchange Rates W eekly Series o f Charts February 9, 1998 DIVISION OF INTERNATIONAL FINANCE Prepared by the BOARD OF GOVERNORS FINANCIAL MARKETS FEDERAL RESERVE SYSTEM SECTION Washington, D.C. 20551 Table of Contents TABLES SUBSCRIPTION RATES: 1. LATEST FIGURES PLOTTED 2. DAILY CERTIFIED SPOT EXCHANGE 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 Board of Governors of the Federal Reserve System in a form collectible at Par in U.S. currency. CHARTS 1. SPOT EXCHANGE RATES INDICES 2. 3-MONTH FORWARD EXCHANGE 3. GOLD PRICE - LONDON 4. CALL MONEY RATES 5. 3-MONTH INTEREST RATES 6. EURO-DOLLAR DEPOSIT RATES 7. SELECTED EURO-DOLLAR AND 8. INTEREST ARBITRAGE: 3-MONTH 9. LONG-TERM GOVERNMENT 10. INDUSTRIAL STOCK INDICES CHART 1 S PO T EXCHANGE INDICES DOLLAR PRICES OF FOREIGN CURRENCIES AND WEIGHTED AVERAGE VALUES (THIN LINE) AVERAGES FOR WEEK ENDING WEDNESDAY RATIO SC MARCH 1973= SCALE 1973=100 \ 130 120 110 160 150 140 130 FOREIGN CURRENCY PRICE OF U.S. DOLLAR 100 90 120 80 110 70 100 60 330 310 290 270 250 i i i l i i i l i i i l i i « 90 380 350 320 290 260 SWISS FRANC 230 230 210 200 190 105 95 85 75 65 I I I I I I I I I I I l I I » 170 110 U.K. POUND 100 90 80 70 55 60 45 50 35 195 185 175 165 155 I I I I I I I I I i I I I I I 40 210 DUTCH GUILDER 200 190 180 170 145 160 135 150 125 I I I I I I I I I I I I 1 * I 140 120 110 100 FRENCH FRANC 70 60 50 40 90 30 80 20 70 60 I I I 1 I I I I I I I I I I « 1995 1997 10 1995 1997 CHART 2 3-M ONTH FORW ARD EXCHANGE RATES PREMIUM AVERAGES FOR WEEK IeNDIN<j WEDNESDAY PERCENT PER ANNUM PERCENT PER ANNUM 4 U.K. POUND + OI 2 T- + OI CM CM 1 1 1 1 1 1 1 i i i 1 i i i 00 00 Tf CO 1 CM CO T+ OI CM CM O Tj- coin Tfr CM 00 t— +O I CNJ +OI TCM CM +OI CHART 3 PRICE OF GOLD IN LONDON AVERAGES FOR W EEK ENDING W EDNESDAY u.s. c U.S. DOLLARS PER FINE OU PER FINE OUNCE 420 420 12.5 Kg BARS AFTERNOON FIXING PRICE 400 400 N 380 380 360 360 340 340 320 320 300 300 280 J__ L J__ I__ L 1993 1995 1997 280 CHART 4 C ALL M ONEY RATES W EEKLY SERIES <j> o PERCENT PER ANNUM co ro coro co co cn cn o> -Niro PERCENT PER ANNUM CHART 5 3-M O N TH IN TER EST RATES WEEKLY SERIES PERCENT PER ANNUM PERCENT PER ANNUM cm cm oo co h* in co in co co cm o> co cm co m t- ^ oo in cmco o CHART 6 EURO -DO LLAR DEPOSIT RATES, LONDON AVERAGES FOR W EEK ENDING W EDNESDAY PERCENT PER ANNUM PERCENT PER ANNUM 8 8 OVERNIGHT 6 6 4 4 2 8 1-1 I 1 I I I I I I 1 I I I I 2 8 7-DAY 6 6 4 4 2 8 i i i l i i i l i i i l i i i 2 8 6 6 4 4 2 1995 1997 2 1995 1997 CHART 7 SELECTED EU RO -DO LLAR AND U.S. M ONEY M ARKET RATES DIFFERENTIAL: PLUS(+), FAVORS BORROWING IN U.S. AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER ANNUM PERCENT PER ANNUM + OI lo + DIFFERENTIAL I 1995 1997 I I 1995 I I L I II 1 I 1 1997 I 1 i i CHART 8 INTEREST ARBITRAGE: 3-M ONTH FUNDS DIFFERENTIAL: PLUS(+), INDICATES FAVOR DOLLAR ASSETS AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER ANNUM PERCENT PER ANNUM DIFFERENTIAL I I I I I I I I I I I I I 1 I I! 1995 1997 1995 1997 CHART 9 LONG-TERM GO VERNM ENT BOND YIE LD S W EEKLY SERIES PERCENT PER ANNUM PERCENT PER ANNUM 9 8 10 9 co o> 7 8 8 7 7 6 in co 6 5 5 4 3 2 1 8 7 6 5 CHART 10 STOCK INDICES W EEKLY SERIES RATIO SCALE End-1994=100 300 260 — FRANCE 220 60 i i i l i i i I i i i l i i i RATIO SCALE End-1994=100 7-Jan-98 Chart l. 14-Jan-98 21-Jan-98 28-Jan-98 4-Feb-98 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 2.6515 70.021 16.436 55.023 0.05600 0.75196 48.805 67.765 163.34 2.6620 69.807 16.413 54.950 0.05586 0.75760 48.759 67.722 162.29 2.6436 69.491 16.294 54.551 0.05549 0.77586 48.422 66.944 162.93 2.6984 68.800 16.624 55.712 0.05649 0.79252 49.421 68.631 165.23 2.6652 68.766 16.419 54.994 0.05574 0.79507 48.809 68.027 164.22 104.48 69.79 74.07 154.79 32.14 196.89 140.11 218.01 66.06 104.90 69.58 73.96 154.58 32.06 198.36 139.98 217.87 65.64 104.17 69.26 73.42 153.46 31.85 203.15 139.01 215.37 65.90 106.33 68.57 74.91 156.72 32.43 207.51 141.88 220.80 66.83 105.02 68.54 73.99 154.70 31.99 208.18 140.12 218.85 66.42 105.35 67.91 71.51 168.54 29.11 223.18 143.48 54.37 222.04 63.68 101.04 106.17 66.24 72.07 170.15 29.26 225.23 144.60 54.31 224.74 63.74 99.37 105.55 66.69 71.62 168.90 29.05 227.76 143.73 53.82 224.27 63.79 100.24 1.00 2.00 2.04 -0.37 5.17 2.14 4.31 -1.80 0.98 2.00 2.03 -0.45 5.17 2.15 4.21 -1.87 1.09 2.02 2.05 -0.51 5.17 2.17 4.31 -1.83 0.71 2.01 2.04 -0.54 5.16 2.17 4.37 -1.83 284.20 280.25 287.83 297.29 301.07 5.55 5.53 4.29 3.31 3.39 0.44 3.24 0.97 7.30 5.43 5.43 4.27 3.31 3.35 0.42 3.27 0.91 7.11 5.52 5.44 4.23 3.31 3.32 0.43 3.19 1.20 7.26 5.54 5.46 4.26 3.31 3.25 0.44 3.25 1.04 7.54 5.54 5.54 4.72 3.31 3.52 0.45 3.28 0.91 7.13 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 , March 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. 1.00 2.01 2.06 -0.23 5.29 2.15 4.23 -1.78 Gold Price in London, Afternoon Fixing U.S. dollars per fine ounce Chart 4. 106.01 68.16 72.01 169.80 29.29 217.05 144.38 54.47 224.45 63.33 100.91 3-Month Forward Exchange Rates, Premium or Discount Canadian dollar French franc German mark Italian lira Japanese yen Netherlands guilder Swiss franc U .K . pound Chart 3. 105.52 68.36 72.09 169.99 29.35 215.14 144.46 54.44 224.50 63.75 100.85 Call Money Rates U.S. federal funds Overnight Euro-dollar deposits Canada France Germany Japan Netherlands Switzerland United Kingdom 7-Jan-98 Chart 5. 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. 5.63 4.77 3.56 3.55 0.79 3.50 1.38 7.51 3.93 5.52 4.68 3.49 3.52 0.77 3.40 1.25 7.44 3.87 5.51 4.69 3.48 3.49 0.75 3.39 1.36 7.52 3.87 5.52 4.54 3.48 3.49 0.75 3.38 1.19 7.50 3.86 5.52 4.96 3.47 3.47 0.82 3.39 1.11 7.44 3.89 5.53 5.52 5.56 5.61 5.66 5.72 5.43 5.47 5.49 5.49 5.54 5.54 5.44 5.49 5.51 5.52 5.52 5.56 5.46 5.49 5.49 5.50 5.51 5.56 5.54 5.50 5.50 5.51 5.51 5.57 Euro-Dollar Deposit Rates Overnight 7-day 1-month 3-month 6-month 1-year Chart 7. 14-Jan-98 21-Jan-98 28-Jan-98 4-Feb-98 Selected Euro-dollar & U.S. Money Market Rates Overnight Euro-dollar deposits U.S. federal funds Differential 5.53 5.55 -0.02 5.43 5.43 -0.01 5.44 5.52 -0.08 5.46 5.54 -0.08 5.54 5.54 -0.00 3-month Euro-dollar deposit U.S. 90-day CD's, secondary market Differential 5.61 5.63 -0.02 5.49 5.52 -0.02 5.52 5.51 0.01 5.50 5.52 -0.02 5.51 5.52 -0.01 Euro-dollar deposit Interbank sterling (London), covered Differential 5.61 5.70 -0.09 5.49 5.61 -0.12 5.52 5.61 -0.09 5.50 5.64 -0.14 5.51 5.58 -0.06 U.S. commercial paper Canadian finance paper, covered Differential 5.52 5.78 -0.26 5.41 5.69 -0.28 5.41 5.68 -0.26 5.43 5.65 -0.22 5.45 5.68 -0.24 Euro-dollar deposit Interbank DM (Frankfurt), covered Differential 5.61 5.63 -0.02 5.49 5.57 -0.08 5.52 5.54 -0.02 5.50 5.56 -0.06 5.51 5.53 -0.02 Euro-dollar deposit Swiss interbank, covered Differential 5.61 5.62 -0.01 5.49 5.57 -0.08 5.52 5.59 -0.07 5.50 5.51 -0.01 5.51 5.49 0.02 5.32 5.10 5.08 1.66 3.05 5.05 6.03 5.43 5.36 5.07 5.06 1.75 3.00 5.05 6.05 5.53 5.34 5.13 5.11 1.84 2.97 5.08 6.08 5.66 5.42 5.11 5.07 1.84 2.87 5.07 6.07 5.56 159.75 160.29 180.73 82.99 228.42 233.78 141.31 202.93 160.50 163.89 186.06 81.47 229.86 241.00 144.56 208.65 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. 5.46 5.23 5.25 1.67 3.12 5.20 6.16 5.56 Stock Indices (Wednesday figures) 156.41 Canada 150.73 154.13 156.48 France 152.99 156.46 181.34 Germany 174.54 177.46 Japan 74.65 73.70 79.85 Netherlands 225.07 222.73 228.67 Switzerland* 230.25 222.13 229.79 United Kingdom 142.31 138.46 140.01 United States 201.71 199.79 202.40 Indices (in order, rebased to 1986=100) are Toronto Composite, SBF250, FAZ Aktien, Tokyo SE (Topix), CBS All-General, Swiss Bank Index*, Digitized forFinancial FRASER Times Ordinary, NYSE Composite
@FedFRASER