Full text of H.13 Selected Interest and Exchange Rates, Weekly Series of Charts : January 3, 1994

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
Weekly Series of Charts

January 3,1994

DIVISION OF
INTERNATIONAL FINANCE

Prepared by the
FINANCIAL MARKETS
SECTION

BOARD OF GOVERNORS
FEDERAL RESERVE SYSTEM
Washington, DiC. 20551




1

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
140

FOREIGN CURRENCY
PRICE OF U.S. DOLLAR

|—

BELGIAN FRANC

I

I

'

I

I

I

I

I

I

I

I

I

I

I

I

i

i

» l

' »

i

l

i

i

i

I

i

i

i

JAPANESE YEN

SWISS FRANC

I

I

I

I

I

I

I

I

I

I

I

I

I

I

I

U.K. POUND

CANADIAN DOLLAR

i

'

120 I—

'

i

i

i

i

l

i

i

i

l

'

i

»

i

i i I i i i I i i i I i i i

GERMAN MARK

DUTCH GUILDER

I

I

I

I

I

I

I

I

I

I

I

I

I

I

I

•

'

i

i

i

r

i

i

<

I

i

FRENCH FRANC

ITALIAN LIRA

•

'

'

1990




i

i

i

i

i

i

i
1992

i

i

i

< '

»

'
1990

i

I

'

'

'

•
1992

i

I

i

'

i

CHART2

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

PERCENT PER ANNUM

2

2

f

U.K. POUND

GERMAN MARK

I

I

•

I

I

I

1

1

1

1

I

1

'

'

'

'

I

» '

i

I

i

'

'•

I

i

'

i

JAPANESE YEN

CANADIAN DOLLAR

—

1

1

1

I

1

1

1

I

1

1

1

1

1

1

1

+

0

1

1

1

1

i

i

I

i

'

i

i

i

i

i

l

i

'

i

1

1

1

1

1

1

1

1

1

1

DUTCH GUILDER

SWISS FRANC

1

'

2

1

1

1

1

1

1

1

1

1

1

1

1

1

1

1

ITALIAN LIRA

FRENCH FRANC

2

2
6

4
6

10

8

14

10

12

1

1 1
1990




1

1

1

1

1

1

1 1
1992

1

1

1

1

1

1 1
1990

1

1

1

1

1

1
I I
1992

1

1

1

1

18

CHART 3

PRICE OF GOLD IN LONDON
A V E R A G E S FOR W E E K ENDING W E D N E S D A Y

U.S. DOLLARS PER FINE OUNCE

U.S. DOLLARS PER FINE OUNCE

420

—

420

—

400

12.5 Kg BARS
AFTERNOON FIXING PRICE

400

380

380

360

360

340

320

—

J

1
1990




1

1

1

i
1991

i

I

i

i
1992

i

I

i

_l
1993

L

340

320

CHART 4

CALL MONEY RATES
WEEKLY SERIES
CENT PER ANNUM

PERCENT PER AN

10

8

FRANCE

U.S. FEDERAL FUNDS

6

4

JAPAN

2
10

9

8
NETHERLANDS
7

GERMANY

6

5
16

14

12

UNITED KINGDOM

CANADA

10

8

6

4

2

SWITZERLAND

•

'

1




l

•

•

•

I

•

•

•

I

'

i

i

•

i

i

I

•

•

'

I

'

'

•

i

•

CHART 5

3-MONTH INTEREST RATES
WEEKLY SERIES
PERCENT PER ANNUM
15

PERCENT PER ANNUM
12
WEIGHTED AVERAGE
FOREIGN RATE

CANADIAN FINANCE PAPER

U.K. INTERBANK STERLING

NETHERLANDS INTERBANK RATE

JAPANESE CD RATE
FRENCH INTERBANK RATE

GERMAN INTERBANK RATE

SWISS INTERBANK

1990




1992

1990

1992

—

CHART 6

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

PERCENT PER AN

10
3-MONTH

OVERNIGHT
8

6

4

2
10

'

i

'

I

i

i

i

I

i

i

'

I

•

'

•

•

i

'

I

7-DAY

'

i

'

I

'

i

i

I

'

i

i

I

•

I

I

I

I

1 I

6-MONTH

8

6

4

2
10

i i i l ' i i l i ' i l i ' i

I

I

I

I

I

'

1-YEAR

1-MONTH

8

I

6

4

2

I

I
1990




I

I

'

'

'

I

'

I
1992

'

I

I

I

I
1990

1992

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

10

3-MONTH

OVERNIGHT

EURO-DOLLAR DEPOSITS

EURO-DOLLAR DEPOSITS

90-DAY CD'S

FEDERAL FUNDS

DASHED LINE

DASHED LINE

DIFFERENTIAL

DIFFERENTIAL

J__l
1990




I

I

I

L

J_J
1992

I

I

I

L

J
1990

I

I

I

I

I

I

I

1
1992

I

I

I

I

L

CHART 8

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

PERCENT PER ANNUM

8

CANADIAN FINANCE
CO. PAPER, COVERED

INTERBANK STERLING

COVERED LONDON

6

4
U.S. COMMERCIAL PAPER

EURO-DOLLAR DEPOSITS

DASHED LINE

DASHED LINE

2

0

0
2
DIFFERENTIAL

DIFFERENTIAL

2

2
10

8
INTERBANK DM

SWISS INTERBANK (SF) COVERED

COVERED FRANKFURT

6

4
EURO-DOLLAR DEPOSITS

EURO-DOLLAR DEPOSITS

DASHED LINE

DASHED LINE

2

0

0
2
DIFFERENTIAL

DIFFERENTIAL

1990




1992

1990

1992

2

CHART 9

LONG-TERM GOVERNMENT BOND YIELDS
WEEKLY SERIES
PERCENT PER ANNUM

PERCENT PER ANNUM

10

14
UNITED KINGDOM
12

10

i

i

i

I

i

'

'

I

'

'

'

l

'

6
11

FRANCE

CANADA

10
9
8
7
6

i

'

i

l

'

•

'

I

'

'

'

I

'

i

'

i

'

l

SWITZERLAND

1

i

1

l

'

1

'

1

i

J_L

JAPAN

5
8

5 —
4 —
3
10

i

i

i

I

i

i

'

l

i

' •

I

'

NETHERLANDS

1

1

I

•

1

1

1

I

1

1

1

l

1

1

3
10

GERMANY
9
8
7

•

i

i

1990




I

i

•

i

l

'

i
1992

•

i

•

•

I

I
1990

I

i

i

'

I

'

'
1992

'

I

i

'

i

CHART 10

STOCK INDICES
WEEKLY SERIES
RATIO SCALE
1986=100

RATIO SCALE
1986=100

230
UNITED STATES

SWITZERLAND

JAPAN

GERMANY

•

i

i

l

FRANCE

i

i

i

l

i

'

CANADA

1990




230

UNITED KINGDOM

'

i

•

•

•
NETHERLANDS

1992

1990

1992

l-Dec-93
Chart 1.

8-Dec-93

15-Dec-93 22-Dec-93 29-Dec-93

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

2.7586
74.988
16.888
58.350
0.05877
0.91786
52.002
66.826
148.33

2.7893
75.389
16.995
58.404
0.05902
0.92312
52.105
67.695
149.15

2.7983
75.183
17.110
58.552
0.05933
0.91584
52.276
68.293
149.01

2.8157
74.702
17.170
58.565
0.05965
0.90578
52.291
68.805
148.96

2.8278
75.262
17.251
58.749
0.05969
0.89932
52.446
69.317
150.18

108.70
74 .74
76.10
164.14
33.73
240.33
149 .29
214.99
59 .99

109 .91
75. 14
76. 58
164 .29
33. 88
241. 70
149 .58
217. 78
60. 32

.27
110 .
74 .
.93
77..10
164 .
.71
34..06
239,.80
150..07
.71
219 .
60..27

110,.95
74 ,
.45
77,.37
164 .
.75
.24
34 .
237..16
150..12
221..35
60..25

111..43
75..01
77..74
165..27
34..26
235..47
150..56
223 .
.00
60..74

106..85
70 .
.54
71..95
174 ,
.15
29 .
.86
255 ,
.99
148..66
.76
49 ,
.74
216 .
55..00
95,.62

107 .
.58
70 ,
.08
72 .
.25
174 ,
.25
.04
30 ,
252 ,
.91
.74
148 ,
49 ,
.95
218..47
.00
55 ,
95 .65

107..76
.44
70 .
.41
72 .
174 .
.34
29 .
.97
250.. 14
148 .
.78
50..59
219 .
.53
55..33
95..33

- 0 . 61
-3 .09
-2 .69
-5 .32
1. 43
-2 .25
- 0 . 88
-1. 81

-0 .67
-3 .20
-2 .77
-5 .23
1 .24
-2 .27
-0 .92
-1 .99

-0 .76
-3 .32
-2 .91
-4 .98
,
1 .19
-2 .41
-1 .05
-2 .23

- 0 ,.56
-3 .16
,
-2 .77
-4 .91
,
1,.25
-2 .23
,
- 0 ,.93
-1,.95

377 .52

384 .73

387 .10

385 .53

2.
,92
2.
.89
.18
4.
6. 66
6 ,10
.
2.
,36
5 .86
4.
,25
,38
5.

2 .94
2 .88
4 .33
6 .58
5 .97
2 .44
5 .78
4 .15
6 .40

2 .99
2 .88
3 .90
6 .55
6 .04
2 .36
5 .79
4 .38
6 .15

2 .99
2 .92
3 .63
6 .45
6 .09
2 .37
5 .83
4 .28
5 .31

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 , Mar. 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.

-0.62
-3 .16
-2.76
-5.45
1.27
-2 .32
-1.07
-1.87

Gold Price in London, Afternoon Fixing

U.S. dollars per fine ounce
Chart 4.

106. 59
70 .82
71 .48
173 .81
29 .72
258 .53
148 .28
49 .95
214 .98
55. 11
95 .73

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.

105.79
70.72
71.30
174.44
29.71
258.02
148.60
49.65
213.02
55.02
96.21

373.92

Call Money Rates

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




3.09
2.95
3.77
6 . 75
6.41
2.41
6.04
4.50
5.25

1-Dec-93
Chart 5.

3..35
4 .22
,
6..50
6..13
2 .21
.
5..69
4 .38
.
5..31
5..27

3 .35
4. 15
6. 43
5. 98
2 .02
5. 58
4 .18
5. 21
5. 13

3. 26
4. 10
6. 38
5. 97
2 .05
5. 45
4 .01
5. 26
5. 09

3. 20
4 .06
6. 40
6. 02
2. 09
5. 52
4 .16
5. 39
5. 13

3. 24
4. 03
6. 34
6. 00
2 .09
5. 48
4 .02
5. 31
5. 04

2 .95
.
2 .98
.
3 .19
.
3,.38
3 .39
.
,
3 .66

2 .89
3 .00
3. 38
3. 35
3 .41
3 .71

2. 88
3. 00
3. 24
3. 28
3 .36
3 .66

2 .88
2. 94
3. 10
3 .16
3 .33
3 .65

2,.92
3,.20
3..14
3..20
3 .36
.
3.
,69

Euro-Dollar Deposit Rates

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

15-Dec- 93 22-Dec- 93 29-Dec- 93

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.

8 -Dec-93

Selected Euro-dollar & U.S. Money Market Rates
2 .95
,
3 .09
,
-0.. 14

2. 89
2 .92
-0.03

2 .88
2 .94
-0. 06

2 .88
2 .99
-0.11

2 .92
2 .99
-0. 07

3 .38
.
3 .35
.
0,.03

3 .35
3 .35
0. 00

3 .28
3 .26
0. 02

3 .16
3 .20
-0.04

3. 20
,24
3.
-0.,03

Euro-dollar deposit
Interbank sterling (London), covered
Differential

3,.38
3 .42
,
-0..05

3 .35
3 .37
-0. 02

3 .28
3 .24
0. 03

3 .16
3 .13
0. 03

3..20
3 .34
.
-0.. 14

U.S. commercial paper
Canadian finance paper, covered
Differential

3 .43
,
,
3 .59
-0,.16

3 .43
3 .54
-0.11

3 .36
3 .42
-0. 06

3 .31
3 .29
0. 02

3,.32
3 .47
.
-0..15

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

3 .38
.
3 .33
,
0,.05

3 .35
3 .25
0. 10

3 .28
3 .16
0. 11

3 .16
3 .07
0. 10

3.,20
3.,19
0. 01

Euro-dollar deposit
Swiss interbank, covered
Differential

,
3 .38
3 .29
0 .08

3 .35
3 .29
0. 06

3 .28
3 .09
0. 19

3 .16
3 .10
0. 06

3 .20
3.
,08
0.,12

6 .86
6 .00
5 .86
3 .49
4 .14
5 .81
6 .65
5 .80

6. 75
5 .98
5. 85
,33
3.
4 ,09
.
5 .81
.
6..45
5 .75
.

6.,73
,79
5.
,76
5.
3 .28
.
4 .06
.
5..74
6..31
5 .77
.

6.,73
,74
5.
5.
.68
3 .24
.
4.
,08
,73
5.
6.,20
5 .81
.

6..58
5..65
5..63
3 .16
.
4 .06
.
5..65
6.. 14
5 .73
,

140 .64
163 .50
119 .87
109 .18
145 .08
211 .00
190 .64
187 .66

143 .
.55
167 .
.34
123 .
.21
105 .
.59
147 .
.84
217 ,
.38
.42
190 ,
189 .
.64

140 .
.82
168..57
121..85
.82
109 .
145 .
.19
218 .
,42
191..54
.77
187 .

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

Stock Indices (Wednesday figures)

Canada
France
Germany
Japan
Netherlands
Switzerland
United Kingdom
United States

140 ..86
NC
124 .98
109 ., 67
149 .,85
226., 07
,76
194 .
189 ., 77

143 .63
NC
126,.35
108 ,
.08
151 .31
227 .31
201 .62
191 .63

Indices (in order, rebased to 1986=100) are Toronto Composite, CAC General, FAZ Aktien,
Tokyo SE (Topix), CBS All-General, Swiss Bank Index, Financial Times Ordinary, NYSE Composite




FEDERAL RESERVE statistical release

t&ry
January 3, 1994

H.10(512)

FOREIGN EXCHANGE RATES
FOR THE WEEK ENDING

DECEMBER 31, 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

xAUSTRALIA
AUSTRIA
BELGIUM
CANADA
CHINA,P.R.
DENMARK
ttEURO 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
tfUNITED KINGDOM

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

MEMO:
**UNITED STATES

DOLLAR

(CURRENCY UNITS PER DOLLAR)
Dec. 30
Dec. 29
Dec. 28

Dec. 27
0.6785
11.954
35.220
1.3280
5.8245
6.6450
1.1360
5.7235
5.7990
1.7005
244.24
7.7240
31.440
1.4280
1674.75
111.53
2.5880
3.1060
1.9064
0.5585
7.38
172.6500
1.6010
3.38
811.00
139.670
49.3200
8.2820
1.445
26.660
25.500
1.5035
95.33

I

Dec. 31

0.6788
11.955
35.370
1.3290
5.8245
6.6445
1.1355
5.6995
5.7940
1.7010
244.49
7.7240
31.440
1.4320
1681.00
111.35
2.6020
3.1060
1.9064
0.5595
7.38
173.6000
1.5990
3.38
811.30
140.050
49.3000
8.2390
1.439
26.650
25.500
1.5072

0.6740
12.080
35.720
1.3335
5.8145
6.7065
1.1250
5.7520
5.8400
1.7180
246.90
7.7235
31.440
1.4245
1696.75
111.60
2.6420
3.1100
1.9244
0.5583
7.45
175.0300
1.6020
3.39
811.40
141.550
49.3400
8.2795
1.457
26.644
25.500
1.4910

0.6762
12.200
36.110
1.3290
5.8145
6.7715
1.1165
5.7925
5.8975
1.7350
249.73
7.7240
31.440
1.4095
1710.75
112.00
2.6930
3.1080
1.9417
0.5575
7.51
176.7000
1.6060
3.40
811.60
142.700
49.3500
8.3280
1.484
26.677
25.570
1.4763

0.6783
12.235
36.240
1.3255
5.8145
6.7905
1.1125
5.8110
5.9190
1.7395
249.99
7.7280
31.440
1.4090
1717.50
111.70
2.6950
N.A.
1.9472
0.5590
7.53
176.9700
1.6085
3.40
811.30
143.150
49.3000
8.3400
1.488
26.626
25.580
1.4775

95.30

96.06

96.81

96.93

KVALUE 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.