Full text of H.13 Selected Interest and Exchange Rates, Weekly Series of Charts : January 17, 1995

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(516/517)

Selected Interest &
Exchange Rates
Weekly Series of Charts

January 17,1995

DIVISION OF
INTERNATIONAL FINANCE

Prepared by the
FINANCIAL MARKETS
SECTION

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




Table of Contents

TABLES
1. LATEST FIGURES PLOTTED
2. DAILY CERTIFIED SPOT
EXCHANGE RATES
H.10 RELEASE
CHARTS
SPOT EXCHANGE RATE INDICES
3-MONTH FORWARD EXCHANGE RATES
GOLD PRICE—LONDON
CALL MONEY RATES
3-MONTH INTEREST RATES
EURO-DOLLAR DEPOSIT RATES
SELECTED EURO-DOLLAR A N D
U.S. MONEY MARKET RATES
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
115

100

RATIO SCALE
MARCH 1973=100
150

FOREIGN CURRENCY
PRICE OF U.S. DOLLAR

140

BELGIAN FRANC

130

120
85

110

100
70

•

i

i

I

i

i

•

I

i

»

i

I

i

i

i

i

270

i

i I

i

i

i

I

i

i

i

I

i

i

i

280

JAPANESE YEN
SWISS FRANC

250

260

230

240

210

220

190
170

90
300

200
I

i

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l

i

i

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l

i

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l

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i

1

1

1

I

1

»

1

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1

1

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»

»

180
85

CANADIAN DOLLAR
U.K. POUND

75

65

i

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l

i

180

i

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l

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I

i

»

i

«

»

1

l

1

1

1

l

1

'

1

1

I

»

1

55
215

GERMAN MARK

DUTCH GUILDER

195

160
175
140

120
100

155

'

i

i

90

I

»

i

i

I

i

i

i

l

i

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i

'

»

1

l

•

•

1

I

•

•

•

I

'

'

'

135
55

ITALIAN LIRA

FRENCH FRANC

45

80
35
70

60

i

i i

I




i

i
1993

i

I

i

i

i I

i i
1995

i

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i l

i

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1993

i

t

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l

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1995

i

25

CHART 2

3-MONTH FORWARD EXCHANGE RATES
PREMIUM (+) OR H
AVERAGES FOR WEEK ENDING WEDNESDAY
PERCENT PER ANNUM
2

PERCENT PER ANNUM
2

U.K. POUND

—

7W
I

—

i

~j\/^i Z
-w
1

1

1

1

1

V

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1 1

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i

—

i

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i

1 l_

'

1

i

DUTCH GUILDER

SWISS FRANC

i

—

JAPANESE YEN

CANADIAN DOLLAR

1

—

i

i

i

i

M i l l

1

1 1
2
ITALIAN LIRA

FRENCH FRANC




—

—

—

6

—

10

—

14

\

18

—

—

1993

1995

Jr

\

1

i

1992

i

i

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i i i i
1994

I

i

i

2

CHART 3

PRICE OF GOLD IN LONDON
AVERAGES FOR WEEK ENDING WEDNESDAY
U.S. DOLLARS PER FINE OUNCE
420

U.S. DOLLARS PER FINE OUNCE
420

12.5 Kg BARS
AFTERNOON FIXING PRICE
400 —

400

380 - -

380

360 —

360

340 —

340

320

i

i
i
1991




l

J

i
1992

1993

1994

1995

L

320

CHART 4

CALL MONEY RATES
WEEKLY SERIES
PERCENT PER ANNUM
10

PERCENT PER ANNUM
6

SWITZERLAND
U.S. FEDERAL FUNDS

JAPAN

i

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10

NETHERLANDS

GERMANY

•

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l

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FRANCE

CANADA

UNITED KINGDOM




i

CHART 5

3-MONTH INTEREST RATES
WEEKLY SERIES
PERCENT PER ANI

3

ER ENT PER ANNUM
10

9
CANADIAN FINANCE PAPER
WEIGHTED AVERAGE
FOREIGN RATE

8

7

6
5
4

2
12

j

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3
11

NETHERLANDS INTERBANK RATE
9

10
U.K. INTERBANK STERLING
8

7

6

5

4
7

'

i

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3
13

11
5

FRENCH INTERBANK RATE

JAPANESE CD RATE

9
3
7

1
10

l

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8

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5
12

10

GERMAN INTERBANK RATE
SWISS INTERBANK

6

8

4

6

2

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1993

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1995

l

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1993

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•

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1995

'

4

CHART 6

EURO-DOLLAR DEPOSIT RATES L O N D O N
AVERAGES FOR WEEK ENDING WEDNESDAY
PERCENT PER ANNUM
8

PERCENT PER ANNUM
8
3-MONTH

OVERNIGHT

'

'

I

'

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1993

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l

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1-YEAR

1-MONTH

'

'

6-MONTH

7-DAY

J_L

1

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I

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l

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1995

i
1993

1995

i

CHART 7

SELECTED EURO-DOLLAR AND U.S. MONEY MARKET RATES
DIFFERENTIAL: PLUS(+), F A V O R S B O R R O W I N G IN U.S.
AVERAGES FOR WEEK ENDING WEDNESDAY
PERCENT PER ANN

DENT PER ANNUM
7

6

5

3-MONTH
EURO-DOLLAR DEPOSITS

OVERNIGHT
EURO-DOLLAR

4

3

90-DAY CD'S
DASHED LINE

FEDERAL FUNDS
DASHED LINE
2
1

i

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l — I — L

J

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+
0

W—A

J

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1993

L

J

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l_J

l__l

L

I

L

DIFFERENTIAL

DIFFERENTIAL

1

I

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L

J

l__L
1995

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1993

I

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1

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I
1995

CHART 8

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

PERCENT PER ANNUM

7

7
CANADIAN FINANCE
CO. PAPER, COVERED

INTERBANK STERLING

6 —

COVERED LONDON

5 —

U.S. COMMERCIAL PAPER
DASHED

EURO-DOLLAR DEPOSITS
DASHED LINE

3 —
•

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1

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1

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DIFFERENTIAL

DIFFERENTIAL

1

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• • ' ' • • I ' l l !

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'1
7

INTERBANK DM
SWISS INTERBANK (SF) COVERED

COVERED FRANKFURT

EURO-DOLLAR DEPOSITS
J\

EURO-DOLLAR DEPOSITS

DASHED LINE

-A

uS

1

1

1

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1993

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DIFFERENTIAL

DIFFERENTIAL

_L_L

DASHED LINE

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1995

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1993

I I
1995

CHART 9

LONG-TERM GOVERNMENT BOND YIELDS
WEEKLY SERIES

PE =tCENT PER ANNUM

PERCENT PER ANN I

9

UNITED STATES

UNITED KINGDOM

8

7

6

5
10
FRANCE

CANADA
9

8

7

6
8

1

i

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•

•

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l

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SWITZERLAND

•

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JAPAN

7

6

5

I

4
9

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NETHERLANDS

i

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GERMANY

8

7

6

5

'

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1993

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1995

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1993

1995

CHART 10

STOCK INDICES
WEEKLY SERIES
RATIO SCALE
1986=100

RATIO SCALE
1986=100

200

220

UNITED KINGDOM

UNITED STATES
200 —

JAPAN

SWITZERLAND

1

I I 1 I I 1 I 1 I I 1 I I I

GERMANY

CANADA

FRANCE

NETHERLANDS




1993

1995

1993

1995

100

14-Dec-94 21-Dec-94 28-Dec-94 4-Jan-95
01hart 1.

11-Jan-95

Spot Exchange Rates and Indices

Noon buying rates (U.S. cents, weekly averages)
Belgian franc
Canadian dollar
French franc
German mark
ptalian lira
Japanese yen
Netherlands guilder
Swiss franc
U.K. pound
Indices, March 1973 base rates
^elgian franc
Canadian dollar
Fr.ench franc
German mark
Italian lira
Japanese yen
Netherlands guilder
Swiss franc
gp.K. pound

3.1302
71.209
18.665
64.362
0.06156
0.99714
57.449
76.253
156.24

3.1388
71.088
18.730
64.660
0.06152
0.99412
57.658
77.122
155.81

121 .57
71 .17
82 . 75
178 .44
34 .95
260 .88
162 .61
241 .60
62 .48

123 .34
70 .97
84 .11
181 .06
35 .34
261 .08
164 .92
245 .32
63 .19

123 .69
70 .85
84 .40
181 .89
35 .31
260 .29
165 .52
248 .11
63 .02

112 .65
63 .41
73 .84
181 .08
29 .18
266 .76
153 .96
53 .26
227 .61
54 .32
90 .03

113 .41
62 .67
74 .52
182 .49
29 .27
264 .60
154 .97
53 .15
229 .30
54 .51
89 .11

113 .64
62 .50
74 .74
183 .33
29 .22
263 .46
155,.43
52 ,
.69
231,.80
54,.30
89 ,
.02

-0.,39
0.,28
0.,67
-2 .
,13
4.
.01
0..80
1.,59
-0.,15

-0 .50
0 .23
1 .08
-2 .39
4 .14
1 .00
2 .07
-0 .06

-0 .58
0 .24
1 .23
-2 .37
4 .14
1 .18
2 .20
-0 .10

-0,.56
0..39
1,.28
-2,.70
.
4 .02
1..15
2.
.26
-0..11

378.24

380. 54

381 .65

380 .56

374 .
.52

5.48
5.41
5.46
5.25
4.99
2.23
5.13
3 .45
6.23

5 .56
5. 41
5. 47
5. 25
4 .86
2 .23
5. 21
3 .11
5. 68

5 .45
5 .56
5 .47
5 .25
4 .13
2 .25
5 .19
3 .42
4 .50

5 .40
5 .69
5 .57
5 .30
4 .85
2 .21
5 .16
3 .94
5 .16

5..53
5..54
5..62
5..25
4.
.84
2.,20
5.,13
3.,55
5. 70

3.0874
72.161
18 .464
63.526
0.06117
0.99743
56.715
74.967
156.18

3.0923
71.848
18.446
63.616
0.06088
0.99753
56.820
75.255
156.15

121,66
71.92
83.21
178.70
35.11
261.16
162.82
241.18
63.17

121,.85
71,.61
.12
83 ,
178,.96
34 ,
.95
261..19
163 .
.12
242 .
.11
.16
63 .

3.0852
71.408
18.363
63.433
0.06089
0.99636
56.643
75.099
154.48

100

Weighted average exchange value indices , Mar. 19731=100
Belgian franc
Canadian dollar
French franc
German mark
gEtalian lira
^Japanese yen
Netherlands guilder
Swedish krona
Swiss franc
U.K. pound
U.S. dollar
^!hart 2.

-0.42
0.45
0.84
-2.69
4.01
0.82
2.06
-0.07

Gold Price in London, Afternoon Fixing

U.S. dollars per fine ounce
Chart 4.

112 ,
.59
63..64
73 .
.99
181..11
29..09
266..29
154 .
.03
52 ..87
227,.45
54 ..80
89 ..71

3-Month Forward Exchange Rates, Premium or Discount

Canadian dollar
French franc
German mark
Italian lira
Japanese yen
Netherlands guilder
gCwiss franc
XLK. pound
Chart 3.

112.38
63.93
74.05
180.77
29.23
266.22
153.69
52.78
226.52
54.80
89.69

Call Money Rates

S. federal funds
Overnight Euro-dollar deposits
Canada
France
Germany
Japan
Netherlands
Switzerland
United Kingdom




ec- 94 21 -Dec-94 28-Dec- 94 4 -Jan-95
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.

6. 31
6. 78
5. 74
5. 34
2 .34
5. 41
4 .08
6. 31
5. 35

6. 26
6. 96
5. 92
5. 42
2. 33
5 .47
4 .13
6. 30
5. 43

6. 30
7. 02
6. 01
5. 24
2 .33
5. 28
4 .13
6. 40
5. 35

6. 39
7. 18
6. 04
5. 18
2 .34
5. 20
4 .13
6. 50
5. 35

6. 28
7. 10
5. 85
5. 10
2. 34
5. 12
4 .04
6.45
5. 30

5. 41
5. 44
6. 03
6. 29
6..79
7. 50

5. 41
5. 48
5. 99
6.,24
6..76
.45
7.

5.,56
6.,23
5..94
6..27
6..83
7..53

5..69
5..67
5..84
6..38
6 .91
.
7 .67
,

5. 54
5. 59
5. 78
6.,30
6..80
7. 59

Euro-Dollar Deposit Rates

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

11-Jan- 95

Selected Euro-dollar & U.S. Mone} • Market Rates

Overnight Euro-dollar deposits
U.S. federal funds
Differential

5..41
5..48
-0..07

5..41
5..56
-0..15

5..56
5 .45
.
0..11

5 .69
5 .40
0 .29

5..54
5 .53
0 .01

3-month Euro-dollar deposit
U.S. 90-day CD's, secondary market
Differential

6..29
6,.31
-0,.02

6 .24
6 .26
-0 .02

6,.27
6 .30
-0 .03

6 .38
6 .39
-0 .01

6 .30
6 .28
0 .02

6 .29
6 .24
0 .05

6 .24
6 .15
0 .09

6 .27
6 .34
-0 .07

6 .38
6 .40
-0 .02

6 .30
6 .33
-0 .03

6 .29
6 .36
-0 .06

6 .27
6 .57
-0 .30

6 .27
6 .51
-0 .24

6 .30
6 .59
-0 .29

6 .24
6 .53
-0 .29

Euro-dollar deposit
Interbank DM (Frankfurt), covered
Differential

6 .29
6 .18
0 .10

6 .24
6 .09
0 .15

6 .27
6 .33
-0 .07

6 .38
6 .42
-0 .05

6 .30
6 .39
-0 .09

Euro-dollar deposit
Swiss interbank, covered
Differential

6 .29
6 .16
0 .13

6 .24
5 .73
0 .51

6 .27
6 .21
0 .05

6 .38
6 .34
0 .03

6 .30
6 .32
-0 .02

9 .09
8.,08
7.
,49
.53
4.
5..32
.65
7.
8..51
7 .80
.

9 .04
.
8.,08
7.
,48
.49
4.
5..26
7.
.64
8..49
7.
.81

9 .15
.
8..25
7.
.64
4.
.55
5..27
.77
7.
8..71
7.
.84

9 .29
.
8.,33
7.
,68
4.
,62
5.,35
7.
.82
8..73
7 .85
,

Chart 8.

Interest Arbitrage, 3-Month Funds

Euro-dollar deposit
Interbank sterling (London), covered
Differential
U.S. commercial paper
Canadian finance paper, covered
Differential

Chart 9.

Long Term Government Bellwether Bond Yields
10-year maturity, where available

Canada
France
Germany
Japan
Switzerland
Netherlands
United Kingdom
United States
Chart 10.

9 .13
7 .98
7 .45
4 .52
5 ,33
7 .60
8 .56
7 ,81

i)
Stock Indices (Wednesday figures)

138 .45
140 ,
.01
139 .15
135 .92
Canada
147 .95
148 ,
.85
149 .35
149 .40
France
116 .36
.22
118 ,
116 .83
114 .21
Germany
117 .46
117 .34
115 .09
113 .28
Japan
151 .33
150 .95
150 .30
147 .86
Netherlands
219 .08
219 .10
217 .92
213 .67
Switzerland
182 .11
184 . 71
182 .76
177 .87
United Kingdom
184 .86
184 .73
184 .47
182 .56
United States
Indices (in order, rebased to 1986=100) are Toronto Composite, CAC General spliced
at 22dec93, FAZ Aktien, Tokyo SE (Topix), CBS All-General, Swiss Bank Index,
Financial Times Ordinary, NYSE Composite



139 .52
144 .82
115 .43
116 .08
149 .65
216 .15
182 .43
185 .05
to SBF250

FEDERAL RESERVE statistical release
H.10(512)

January 13, 1995

FOREIGN EXCHANGE RATES
FOR THE WEEK ENDING

JANUARY 13, 1995

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
*EURO COMMUNITY
FINLAND
FRANCE
GERMANY
GREECE
HONG KONG
INDIA
^IRELAND
ITALY
JAPAN
MALAYSIA
MEXICO
NETHERLANDS
*NEW ZEALAND
NORWAY
PORTUGAL
SINGAPORE
SOUTH AFRICA
SOUTH KOREA
SPAIN
SRI LANKA
SWEDEN
SWITZERLAND
TAIWAN
THAILAND
*UNITED KINGDOM
MEMO:
^ U N I T E D STATES

MONETARY
UNIT

Jan. 9

DOLLAR
SCHILLING
FRANC
DOLLAR
YUAN
KRONE
ECU
MARKKA
FRANC
D. MARK
DRACHMA
DOLLAR
RUPEE
POUND
LIRA
YEN
RINGGIT
PESO
GUILDER
DOLLAR
KRONE
ESCUDO
DOLLAR
RAND
WON
PESETA
RUPEE
KRONA
FRANC
DOLLAR
BAHT
POUND

0.7620
10.876
31.840
1.4060
8.4622
6.0795
1.2285
4.7840
5.3340
1.5455
240.08
7.7575
31.373
1.5440
1622.50
100.33
2.5520
5.4000
1.7329
0.6365
6.7505
159.08
1.4520
3.5455
793.40
133.360
49.900
7.4880
1.2945
26.370
25.130
1.5573

DOLLAR

88.92

(CURRENCY UNITS PER DOLLAR)
Jan. 10
Jan. 11
Jan. 12
0.7670
10.835
31.720
1.4123
8.4617
6.0695
1.2297
4.8140
5.3170
1.5395
239.46
7.7620
31.370
1.5430
1626.25
100.40
2.5550
5.8000
1.7271
0.6405
6.7490
158.62
1.4515
3.5400
794.10
133.760
49.850
7.5510
1.2890
26.320
25.130
1.5585

88.84

0.7703
10.806
31.640
1.4140
8.4615
6.0570
1.2332
4.7555
5.3050
1.5355
238.92
7.7665
31.368
1.5415
1625.00
99.90
2.5545
5.7500
1.7224
0.6413
6.7350
158.44
1.4530
3.5290
794.30
133.650
49.900
7.4930
1.2865
26.330
25.120
1.5592

88.64

0.7665
10.746
31.470
1.4165
8.4612
6.0265
1.2390
4.7370
5.2850
1.5270
237.67
7.7560
31.370
1.5520
1623.75
98.80
2.5605
5.6500
1.7125
0.6410
6.6985
157.56
1.4655
3.5260
793.30
133.440
49.900
7.4780
1.2805
26.300
25.700
1.5715

88.19

Jan. 13
0.7570
10.809
31.660
1.4112
8.4611
6.0575
1.2324
4.7645
5.3045
1.5360
239.07
7.7550
31.368
1.5480
1620.25
98.77
2.5605
5.3500
1.7226
0.6380
6.7245
158.60
1.4570
3.5265
793.10
133.730
49.900
7.5200
1.2910
26.320
25.250
1.5670

88.44

*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.
WEIGHTS 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 (202) 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.