Full text of H.13 Selected Interest and Exchange Rates, Weekly Series of Charts : January 11, 1993

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Selected Interest &
Exchange Rates
Weekly Series of Charts

January 11,1993

DIVISION OF
INTERNATIONAL FINANCE

Prepared by the
FINANCIAL MARKETS
SECTION

BOARD OF GOVERNORS
FEDERAL RESERVE SYSTEM
Washington, DC. 20551




Table of Contents

TABLES
1. LATEST FIGURES PLOTTED
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




SUBSCRIPTION 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 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 1973-100

RATIO SCALE
MARCH 1973=100

120

140
FOREIGN CURRENCY
PRICE OF U.S. DOLLAR

110 |—

BELGIAN FRANC

130

100

120

90

110

80

100

70
270

i

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•

i

'

1

'

1

1

1

1

1

1

1

1

1

90
240
220

JAPANESE YEN

—

250

I

200

230

180

210

160

SWISS FRANC

190

I

'

170

I

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I

I

I

I

I

I

I

I

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I

140

100

100
90

90

U.K. POUND

80

80

70

70
CANADIAN DOLLAR

60

60
50
200

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1 I

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1

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1

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50
200

180

190

160

180

140

170

120 —
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160

GERMAN MARK

DUTCH GUILDER

I

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•

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•

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r

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FRENCH FRANC




ITALIAN LIRA

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» '

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CHART 2

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

PERCENT PER ANNUM

2 ,

2
U.K. POUND

CANADIAN DOLLAR

+

0

+

0

2

2

4

4

6

6

8

8
10

10

I

12
2
+
0

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12
8

JAPANESE YEN

GERMAN MARK

—

6
4

2
4
6
8

2

10

4

I

12
2
+

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/

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6
4

DUTCH GUILDER

SWISS FRANC

0
2

'

2

V \ w ,

+

—

V

4

0

VAX
—

2

6
4

8

6

10
12
2
+

0

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I1

1

1

1

1

1

1

1

1

1

1

1

1

1

1

1

1

1

1

1

1

1

1

ITALIAN LIRA

FRENCH FRANC

8
7
3

2

1

4

5

6

9

8

13

10

17

12

1

1 1
1990

1




1

1

1

1

1

1 1
1992

1

1

1

1

i

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1990

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'

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I

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1992

'

l

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21

CHART 3

PRICE OF GOLD IN LONDON
AVERAGES FOR WEEK ENDING WEDNESDAY
U.S. DOLLARS PER FINE OUNCE

U.S. DOLLARS PER FINE OUNCE

—

420

400

—

400

380 —

—

380

360 —

—

360

420

12.5 Kg BARS
AFTERNOON FIXING PRICE

340

320

340

1990




1991

1992

1993

320

CHART4

CALL MONEY RATES
WEEKLY SERIES
PERCENT PER ANNUM

PERCENT PER ANNUM

10

16
—
U.S. FEDERAL FUNDS

14
12

FRANCE

10
8
4 —

JAPAN

1

1

» I

1

1

« 1

1

1

'

1

_L_L

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>

1

» » l

1

1

1

2
10

10

GERMANY

•

1

I

I

1




« •

I

'

1

NETHERLANDS

'

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l

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—

9

—

8

CHART 5

3-MONTH INTEREST RATES
WEEKLY SERIES

PERCENT PER ANNUM

PERCENT PER ANNUM

WEIGHTED AVERAGE
FOREIGN RATE
CANADIAN FINANCE PAPER
8

U.S. CD S

6

4

3

2
16

14

12

10

U.K. INTERBANK STERLING

NETHERLANDS INTERBANK RATE

8

6

6
9

7
FRENCH INTERBANK RATE
JAPANESE CD RATE
5

8

3
10

8

4

GERMAN INTERBANK RATE

SWISS INTERBANK

6

7
1990




1992

1990

1992

CHART 6

EURO-DOLLAR DEPOSIT RATES LONDON
AVERAGES FOR WEEK ENDING WEDNESDAY
PERCENT PER ANNUM

PERCENT PER ANNUM

10

10

I

I

I

I

OVERNIGHT

3-MONTH

7-DAY

6-MONTH

I

I

I

I

I

I

I

I

I

I

I

I

10

1-YEAR

1-MONTH

i

i

i

1990




I

i

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i

I

i

i
1992

i

I

i

i

i

•

'
1990

» i

'

1

1

i

•

1

1992

•

1

1

•

1

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

10

OVERNIGHT

1-MONTH

EURO-DOLLAR DEPOSITS

8

EURO-DOLLAR DEPOSITS

6
90-DAY CD'S

FEDERAL FUNDS

DASHED LINE

DASHED LINE

4

2

2
2

DIFFERENTIAL

1990



1992

DIFFERENTIAL

1990

1992

CHART 8

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

PERCENT PER ANNUM

10

10

8

—

CANADIAN FINANCE
CO. PAPER, COVERED

INTERBANK STERLING
6

COVERED LONDON

—

4 —
U.S. COMMERCIAL PAPER

EURO-DOLLAR DEPOSITS'
2

DASHED LINE

DASHED LINE

—

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2
10

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•

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l

•

DIFFERENTIAL

DIFFERENTIAL
AA/V'^V

'

VV^-WM'V«VV-

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•

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•

SWISS INTERBANK (SF) COVERED
INTERBANK DM
COVERED FRANKFURT

6 —

4 —
EURO-DOLLAR DEPOSITS

EURO-DOLLAR DEPOSITS

DASHED LINE

DASHED LINE

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DIFFERENTIAL

DIFFERENTIAL

zx

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1990



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1992

'

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» I
1990

I

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I

'

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1992

2
10

CHART 9

LONG-TERM GOVERNMENT BOND YIELDS
WEEKLY SERIES
RCENT PER ANNUM

PERCENT PER ANN!

10
UNITED STATES

UNITED
KINGDOM

9
8
7
6
5
12

•

» '

I

'

'

'

i

'

» i

l

'

'

i

i

CANADA

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l

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i >

i

» i

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» i

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i

i

i

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FRANCE

11
10
9
8
7
8

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|W,

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SWITZERLAND

JAPAN

7

6

5

4
10

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NETHERLANDS

I

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l

I

GERMANY

9

8

7

6

_L_L

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1990




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1992

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1990

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1992

CHART 10

STOCK INDICES
WEEKLY SERIES
RATIO SCALE
1986=100

RATIO SCALE
1986=100

200

200
UNITED STATES

UNITED KINGDOM

180 —

SWITZERLAND

I

I

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I

ERMANY

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JAPAN

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FRANCE

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CANADA

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NETHERLANDS

l

1990




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1992

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1990

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1992

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SERIES
Chart 1.

9-Dec~92

S p o t Exchange R a t e s a n d I n d i c e s

Noon b u y i n g r a t e s

(U.S.

cents,

weekly averages)

Belgian franc
Canadian d o l l a r
French f r a n c
German mark
Italian lira
Japanese yen
Netherlands g u i l d e r
Swiss f r a n c
U . K . pound
Indices,

M a r c h 1973 base r a t e s

:

3.0866
7 8 . 375
1 8 . 646
6 3 . 504
0.07210
0.80372
56 . 520
7 0 . 967
157 .50

3.0932
78.385
18.645
63.696
0.07155
0.80846
56.642
71.089
156.47

3.0878
7 8 . 870
1 8 . 594
6 3 . 483
0.07075
0.81075
56 . 444
7 0 . 391
155 .37

121 . 6 3
78 . 1 2
84 . 0 2
178 .64
41 .39
210 .44
162 .26
228 . 3 1
63 .70

121.89
78.13
84.02
179.18
41.07
211.68
162.61
228.70
63.29

121 .67
78 . 6 1
83 . 7 9
178 .58
40 . 6 1
212 . 2 8
162 . 0 4
226 .46
62 . 8 4

119
78
82
174
39
210
158
220
61

.22
.83
.18
.89
.48
.33
.74
.88
.27

117.60
78.10
81.07
172.68
37.93
209.27
156.77
218.04
61.68

112
70
75
181
34
212
153
57
213
54
90

.97
.73
.03
.67
.36
.23
.70
.48
.36
.78
.25

112
72
74
180
33
213
152
57
211
54
91

.23
.03
.60
.21
.85
.41
.65
.42
.01
.10
.88

111.71
72.02
74.23
179.46
32.75
214.41
152.12
57.11
210.21
55.07
92.97

-3
-8
-5
-10
-0
-5
-2
-3

.71
.54
.42
.02
.22
.02
.73
.72

-3
-7
-5
-9
-0
-4
-2
-3

.40
.93
. 18
.36
.18
.75
.68
.65

-3.54
-9.26
-5.13
- 9 .44
-0.23
-4.66
-2.49
-3.65

W e i g h t e d a v e r a g e e x c h a n g e v a l u e i n d i c e s ;, M a r .
Belgian franc
Canadian d o l l a r
French f r a n c
German mark
Italian lira
Japanese yen
Netherlands guilder
Swedish krona
Swiss f r a n c
U.K. pound
U.S. d o l l a r
3 - M o n t h F o r w a r d Exchange R a t e s ,

Canadian d o l l a r
French f r a n c
German mark
Italian lira
Japanese yen
Netherlands g u i l d e r
Swiss f r a n c
U . K . pound
Chart 3.
U.S.

2.9845
78.361
17.990
61.384
0. 06609
0.79927
54.609
67.773
152.51

1973 = 100

112 .57
70 .03
75 .02
181 .10
34 .96
209 .49
153 .44
59 .23
214 . 5 1
55 .43
89 . 9 1

112.81
70.02
75.01
181.73
34.67
210.83
153.77
59.02
214.86
55.02
89.89

Premium o r D i s c o u n t
- 3 .95
- 6 .92
- 5 . 14
- 1 0 .25
0 . 09
- 5 .02
- 2 .65
- 3 .28

-3.99
-7.62
-5.49
-9.98
-0.11
-5.15
-2.76
-3.48

Gold P r i c e i n London, A f t e r n o o n F i x i n g

d o l l a r s p e r f i n e ounce

Chart 4.

3.0255
7 9 . 089
1 8 . 237
6 2 . 172
0.06879
0.80332
5 5 . 294
6 8 . 659
151 .48

= 100

Belgian franc
Canadian d o l l a r
French f r a n c
German mark
Italian lira
Japanese yen
Netherlands g u i l d e r
Swiss f r a n c
U.K. pound

Chart 2.

16-Dec~92 2 3 - D e c - 9 2 30-Dec-92 6 - J a n - 9 3

C a l l Money R a t e s

U.S. f e d e r a l f u n d s
Overnight Euro-dollar deposits
Canada
France
Germany
Japan
Netherlands
Switzerland
U n i t e d Kingdom




334 .84

335.24

335 . 0 3

332 .77

329.84

2.93
2.86
7.75
9.91
8.90
3.83
8.59
5.45
7.05

2 .94
2 .93
6 .60
9 .93
8 .78
3 .81
8 .57
6 .15
7 .15

2 .86
3 .05
6 .46
10 . 3 1
8 .70
3 .84
8 .59
6 .17
5 .88

3.03
3.16
6.81
12.75
8.78
3.85
8.48
5.50
6.84

'

2 .94
2 .86
8 .65
9 .85
8 .87
3 .81
8 .75
5 .48
6 .65

SERIES
C h a r t 5.

9-Dec~92

3-Month I n t e r e s t

Rates

U.S. 90-day CD's, s e c o n d a r y market
Canadian f i n a n c e paper
French i n t e r b a n k r a t e
German i n t e r b a n k r a t e
J a p a n e s e CD r a t e
Netherlands interbank r a t e
Swiss i n t e r b a n k r a t e
U.K. i n t e r b a n k s t e r l i n g
Weighted average f o r e i g n i n t e r e s t r a t e
(G-10 C o u n t r i e s )
Chart 6.

Euro-Dollar

Deposit

deposits

Interest

Arbitrage,

Euro-dollar deposit
Interbank s t e r l i n g (London),
Differential
U.S. commercial paper
Canadian f i n a n c e p a p e r ,
Differential

3 .34
7 .53
10 .78
8 .80
3 .76
8 .27
6 .02
7 . 04
7 .81

3 .28
7 .41
11 .88
8 .68
3 .76
8 .06
5 .67
7 .03
7 .91

2 .86
2 .93
3 .84
3 .63
3 .68
4 . 00

2 .86
2 .89
3 .55
3 .50
3 .58
3 .99

2 .93
3 .19
3 .36
3 .40
3 .53
3..99

3 . 05
3 .94
3 .28
3 .36
3 .55
3 .94

3 .16
3 .11
3 .16
3 .30
3 .47
3 .91

2 .86
2 .93
- 0 .07

2..93
2. 94
- 0 . 01

3.. 05
2 .86
0 . 19

3 .16
3 .03
0 .13

3. 63
3 .60
0 . 02

3 .50
3 .50
0 . 00

3. 40
3. 36
0 . 04

3..36
3,.34
0., 02

3 .30
3 .28
0.. 02

3. 63
3. 71
- 0 . , 08

3..50
3..55
- 0 . , 05

3 . 40
3 . 41
- 0 . 01

3..36
3., 33
0.. 03

3 .30
3 .32
- 0 . 02

3. 78
4. 11
- 0 . 33

3.,70
3. 95
- 0 . 25

3. 61
3 . 98
- 0 . 37

3..54
4. 06
- 0 . 52

3 .38
3 .80
- 0 .42

3. 63
3. 66
- 0 . 04

3. 50
3, 34
0 . 16

3 . 40
3 . 44
- 0 . 04

3 . 36
3 . 51
- 0 . 15

3. 30
3. 44
- 0 . 14

3. 63
3. 50
0. 12

3. 50
3. 32
0. 18

3 . 40
3 . 32
0 . 08

3 . 36
3 . 31
0. 05

3. 30
3. 14
0 ..15

7 . 85
8 . 27
7 . 35
4. 71
5. 81
7 . 49
8 . 30
6 . 80

7 . 92
8 . 24
7 . 36
4. 73
5. 62
7 . 45
8 . 30
6 . 80

7 . 82
8 . 26
7 . 28
4. 71
5 . 48
7 . 39
8 . 29
6. 71

7 . 80
8 . 13
7 . 19
4 . 65
5 . 47
7 . 27
8 . 18
6 . 70

7 . 85
8 . 12
7 . 14
4 . 64
5 . 52
7 . 19
8 . 18
6 . 64

109. 48
128. 75
8 9 . 00
9 9 . 28
107 . 24
154. 95
160. 97
176. 02

109. 84
126 . 62
86 . 94
9 9 . 61
105. 72
157 . 04
161. 50
174. 42

1 1 0 . 74
1 3 0 . 43
8 9 . 55
1 0 2 . 07
1 0 7 . 40
1 5 9 . 99
167 . 80
177 . 17

1 1 0 . 77
1 3 2 . 77
9 0 . 25
9 8 . 88
1 0 7 . 35
1 6 2 . 64
1 6 8 . 43
177 . 28

I l l . 74
133. 31
91 . 08
97 . 69
109. 03
164. 70
170 . 28
175. 81

3 - M o n t h Funds
covered

covered

Euro-dollar deposit
I n t e r b a n k DM ( F r a n k f u r t ) ,
Differential

covered

Euro-dollar deposit
Swiss i n t e r b a n k , c o v e r e d
Differential

Long Term G o v e r n m e n t B e l l w e t h e r Bond Y i e l d s
10-year m a t u r i t y , where a v a i l a b l e

Canada
France
Germany
Japan
Switzerland
Netherlands
U n i t e d Kingdom
United States
C h a r t 10.

3 .36
7 .75
11 . 2 9
8 .99
3 .78
8 .51
6 .09
7 .20
8 .10

2 .86
2 .94
- 0 . . 08

3-month E u r o - d o l l a r d e p o s i t
U.S. 90-day CD's, s e c o n d a r y market
Differential

Chart 9.

3 .50
8 .02
10 .79
8 .96
3 .77
8 .62
6 .13
7 .09
8 .06

S e l e c t e d E u r o - d o l l a r & U . S . Money M a r k e t R a t e s

Overnight Euro-dollar
U.S. f e d e r a l f u n d s
Differential

Chart 8.

3 .60
8 .14
10 .18
8 .92
3 .71
8 .72
6 .19
7 .05
8 .02

Rates

Overnight
7-day
1-month
3-month
6-month
1-year
Chart 7.

16-Dec-92 23_Dec_92 30-Dec-92 6 -Jan-93

Stock I n d i c e s

Canada
France
Germany
Japan
Netherlands
Switzerland
U n i t e d Kingdom
United States

(Wednesday f i g u r e s )

I n d i c e s ( i n o r d e r , r e b a s e d t o 1986=100) a r e T o r o n t o C o m p o s i t e , CAC G e n e r a l , FAZ A k t i e n ,
Tokyo SE ( T o p i x ) , CBS A l l - G e n e r a l , S w i s s Bank I n d e x , F i n a n c i a l T i m e s O r d i n a r y , NYSE C o m p o s i t




%*pt GOl/y

FEDERAL RESERVE statistical release
'••ititr&y
January 11, 1993

H.10(512)

FOREIGN EXCHANGE RATES
FOR THE MEEK ENDING

JANUARY 8, 1993

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
*EURO COMMUNITY
FINLAND
FRANCE
GERMANY
GREECE
HONG KONG
INDIA
•IRELAND
ITALY
JAPAN
MALAYSIA
NETHERLANDS
•NEW ZEALAND
NORWAY
PORTUGAL
SINGAPORE
SOUTH AFRICA
SOUTH KOREA
SPAIN
SRI LANKA
SWEDEN
SWITZERLAND
TAIWAN
THAILAND
•UNITED KINGDOM

DOLLAR
SCHILLING
FRANC
DOLLAR
YUAN
KRONE
ECU
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

Jan. 4

1 CURRENCY UNITS PER DOLLAR)
Jan. 7
Jan. 6
Jan. 5

Jan. 8

0.6818
11.520
33.680
1.2782
5.7662
6.3490
1.1912
5.4000
5.5945
1.6375
218.15
7.7420
29.000
1.6055
1521.00
125.40
2.6040
1.8410
0.5121
6.9710
147.69
1.6520
3.0770
789.70
116.48
N. A.
7.1840
1.4790
N. A.
25.540
1.5010

0.6735
11.449
33.480
1.2768
5.7662
6.2995
1.2042
5.3600
5.5450
1.6248
216.45
7.7435
29.000
1.6189
1529.00
125.11
2.5915
1.8280
0.5053
6.9590
146.48
1.6545
3.0580
791.30
115.83
N. A.
7.2300
1.4702
25.405
25.570
1.5450

0.6700
11.510
33.620
1.2782
5.7744
6.3120
1.1972
5.3850
5.5685
1.6345
218.20
7.7432
29.000
1.6020
1529.00
125.10
2.5943
1.8370
0.5055
6.9820
147.15
1.6608
3.0650
793.40
116.30
N. A.
7.2580
1.4870
25.427
25.535
1.5413

0.6690
11.513
33.670
1.2798
5.7744
6.3260
1.1982
5.4550
5.5635
1.6365
218.75
7.7420
29.000
1.6035
1512.50
125.25
2.5985
1.8400
0.5080
7.0260
146.93
1.6585
3.0690
794.20
116.03
46.150
7.3675
1.4925
25.411
25.550
1.5360

0.6720
11.527
33.700
1.2825
5.7744
6.3440
1.1968
5.4815
5.5710
1.6385
219.15
7.7430
29.000
1.6019
1501.00
125.27
2.5980
1.8411
0.5101
7.0070
147.12
1.6620
3.0890
795.00
116.42
N. A.
7.4175
1.4950
25.423
25.560
1.5400

93.49

92.83

93.14

93.22

93.23

•VALUE IS U.S. DOLLARS
**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.
THIS RELEASE IS AVAILABLE ONLINE THROUGH THE FACILITIES OF THE DEPARTMENT OF COMMERCE'S
ECONOMIC BULLETIN BOARD. FOR INFORMATION, CALL (2021 482-1986.
FOR INFORMATION ABOUT YOUR SUBSCRIPTION TO THIS RELEASE OR ABOUT RECEIVING IT IN DOCUMENT
FORM, PLEASE CALL PUBLICATIONS SERVICES AT THE FEDERAL RESERVE BOARD AT (202) 452-3244.