Full text of H.13 Selected Interest and Exchange Rates, Weekly Series of Charts : January 3, 1995

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I

(516/517)

Selected Interest &
Exchange Rates
Weekly Series of Charts

January 3,1995

DIVISION OF
INTERNATIONAL FINANCE

Prepared by the
FINANCIAL MARKETS
SECTION

BOARD OF GOVERNORS
FEDERAL RESERVE SYSTEM
Washington, DtC. 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

120

RATIO SCALE
MARCH 1973=100

FOREIGN CURRENCY
PRICE OF U.S. DOLLAR

110
100
90
80

BELGIAN FRANC
i

i

I

i

i

i

I

i

i

i

i

i

i

i

i

i

I

i

i

i

l

i

I

i

i

JAPANESE YEN
SWISS FRANC
'

i

i

I

i

i

'

I

i

>

i

I

'

i

'

U.K. POUND
i

i

i

I

i

CANADIAN DOLLAR
i

i

I

I

i

i

DUTCH GUILDER
i

i

i

I

i

i

i




i

l

i

i

I

i

i

GERMAN MARK
i

I

I

i

i i
1992

i

i

i

I

i

i

ITALIAN LIRA

FRENCH FRANC
i

i

1

'

<

i

I

i

i i
1994

1992

1994

i

CHART 2

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

PERCENT PER ANNUM

2
GERMAN MARK

2

U.K. POUND

1
CANADIAN DOLLAR

1

1

I

1

1 t

1

1

1

1

1

1

1

1

1

1

1

1

JAPANESE YEN

- -

1

1

1

I

I

1

I

I

I

!

1

I

1

1

SWISS FRANC

1

1

p

1

1

1

1

1

1

1

1

1

l

DUTCH GUILDER
Z

1

1

1

1

1

1

|

1

1

1

1

I

1

1

1

FRENCH FRANC

1

1

1

1

1

1

1

1

1

i

i

I

i

i

i

ITALIAN LIRA
2

2
4

6

6
10

8
10
12

14
1

1

1




1

1

1
1992

1

1

1

1

1

1

1

1
1994

1

1

1

1

1

1

1
1992

1

1

1

1
i

i

1

i

i i
1994

18

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

400

12.5 Kg BARS
AFTERNOON FIXING PRICE

400

380

380

360

360

340

340

320

J




I—
1991

I
1992

I
1993

I

I

1

1
1994

L

320

CHART4

CALL MONEY RATES
WEEKLY SERIES
CENT PER ANNUM

PERCENT PER AN

8

10
SWITZERLAND
8

6

U.S. FEDERAL FUNDS

6

4

4

JAPAN
2

2
10

0
10

9

9

8

8
GERMANY

7

NETHERLANDS

7

6

6

5

5

4
16

4
14

14

12

FRANCE
12
CANADA
10

8

8

6

6
4

2




10

4
UNITED KINGDOM

2
0

CHART 5

3-MONTH INTEREST RATES
WEEKLY SERIES
PERCENT PER ANI

ENT PER ANNUM
12
WEIGHTED AVERAGE
FOREIGN RATE

10

CANADIAN FINANCE PAPER

8

6

4

2

i

'

i

I

i

i

i

I

'

i

i

I

i

i

16

13

U.K. INTERBANK STERLING

10

NETHERLANDS INTERBANK RATE

7

4

'

i

I

i

i

i

I

i

i

i

I

i

i

i

i

i

i

I

i

i

i

I

i

i

i

I

i

i

i

i

I

i

i

i

'

'

9

JAPANESE CD RATE

7

5
FRENCH INTERBANK RATE
3

1
10

8

6

SWISS INTERBANK
GERMAN INTERBANK RATE

4
1

2




1992

1994

1

«

I

1

i
1992

i

I

1994

CHART 6

EURO-DOLLAR DEPOSIT RATES LONDON
AVERAGES FOR WEEK ENDING WEDNESDAY
PERCENT PER ANNUM
10




PERCENT PER ANNUM
10

OVERNIGHT

3-MONTH

7-DAY

6-MONTH

1-YEAR

1-MONTH

1992

1994

1992

CHART?

SELECTED EURO-DOLLAR AND U.S. MONEY MARKET RATES
D I F F E R E N T I A L : P L U S ( - t ) , F A V O R S B O R R O W I N G IN U . S .
AVERAGES FOR WEEK ENDING WEDNESDAY
PERCENT PFR ANNUM

PERCENT PER ANNUM

8

6
1

OVERNIGHT
EURO-DOLLAR DEPOSITS

3-MONTH
EURO-DOLLAR DEPOSITS

4
FEDERAL FUNDS
DASHED LINE

9 0 - D A Y CD'S
DASHED LINE

2
2

2

DIFFERENTIAL

1

DIFFERENTIAL

+
0

1




1992

1994

1992

1994

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

8

CANADIAN FINANCE
CO. PAPER, COVERED

INTERBANK STERLING

COVERED LONDON

EURO-DOLLAR DEPOSITS

U.S. COMMERCIAL PAPER

DASHED LINE

DASHED LINE

I i i i I i i i
DIFFERENTIAL

DIFFERENTIAL

^j \ / V " Y v w " v v v V ^

INTERBANK DM

^

—H\

COVERED FRANKFURT

EURO-DOLLAR DEPOSITS

SWISS INTERBANK (SF) COVERED

EURO-DOLLAR DEPOSITS

DASHED LINE

DASHED LINE

i

i

DIFFERENTIAL

I

I

i

i

DIFFERENTIAL

^ HJ
1

1

'

«

I




»

»
1992

1

I

•

1

'

I

l

' l
1994

I

'

'

I

I

I I
1992

I

I

I

I

I

I

I
1994

CHART 9

LONG-TERM GOVERNMENT BOND YIELDS
WEEKLY SERIES
PERCENT PER ANNUM
9

PERCENT PER ANNUM
11
UN TED K NGDOM

I

1

'

I

'

'

I

I

I

I

I

I

'

I

I

I

I

I

1

•

I

1

I

I

FRANCE

CANADA

SWITZERLAND

JAPAN

I
NETHERLANDS




I

1992

1

I

1

GERMANY

1994

1992

1994

CHART 10

STOCK INDICES
WEEKLY SERIES
RATIO S<
1986

SCALE
1986= 00
220
UNITED STATES
200

UNITED KINGDOM

180
160
140

120
i

i

i

I

i

i

i

I

i

i

i

I

i

i

i

250
225

ARAN

SWITZERLAND

200
175
150
125

100
160
GERMANY

CANADA

FRANCE

NETHERLANDS

140

120

100

80
210
195
180
165
150
135
120
105




1992

1994

1992

1994

30-Nov-94 7-Dec-94
Chart 1.

14-Dec-94 21-Dec-94 28-Dec-94

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

3.1046
72.628
18.619
63.905
0.06186
1.01215
57.044
75.465
156.43

3.0881
72.741
18.509
63.541
0.06170
0.99884
56.733
75.224
156.19

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

3.0852
71.408
18.363
63.433
0.06089
0.99636
56.643
75.099
154.48

121 .69
72 .50
83 .41
178 .74
35 .41
261,.53
162 .
.87
242 .
.01
63 .
.17

121 .66
71 .92
83 .21
178,.70
35..11
261..16
162 .
.82
241.,18
63 .,17

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

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

112 .38
63 .93
74 .05
180 .77
29 .23
266 .22
153 .69
52 .78
226 .52
54 ,
.80
89 .
.69

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

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

0.,20
0.,71
0. 98
-2 .29
3 .96
0 .95
2 .14
0. 00

-0,,42
0.,45
0.,84
-2 .69
4 .01
0 .82
2 .06
-0. 07

-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

383.65

377.86

378.24

380.54

381.65

5 .85
5 .50
5 .22
5 .24
5 .18
,
2,
.20
4.
.94
3.
.40
4.
.35

5 .47
5 .43
5 .32
5 .25
5,.01
2.
.22
5.
.08
3..63
4.
,95

5 .48
5 .41
5 .46
5 .25
4 .99
,
,
2 .23
5..13
3.
.45
6..23

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

122 .34
72 .39
83 .90
179 ,
. 77
35 ,
.51
265..01
163 .
.76
242 .
.78
63.,27

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.

3-Month Forwa

112 .36
63 .98
74 .27
180 .82
29 .40
268 .89
153 .70
52 .60
226 .73
54 ,
.55
89 .
.04

Exchange Rates, Premium or Discount

Canadian dollar
French franc
German mark
Italian lira
Japanese yen
Netherlands guilder
Swiss franc
U.K. pound
Chart 3.

0..18
0..48
0. 81
-2 .57
3 .72
0. 78
2 .12
-0. 05

Gold Price in London, Afternoon Fixing

U.S. dollars per fine ounce
Chart 4.

112 .19
64 .35
74 .10
180 .42
29 .44
266 .09
153 .44
52 .82
226 .89
54 .
.69
89 .
.48

Call Money Rates

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




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

30-Nov--94 7 -Dec-94
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 .95
5 .88
5 .46
5 .11
2 .34
5 .15
3 .81
5 .95
5 .07

6 .26
6 .14
5 .52
5 .19
2 .34
5 .28
3 .94
6 .18
5 .16

6 .33
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

5 .50
5 .48
5 .66
5 .91
6 .29
6 .93

5 .43
5 .54
6 .03
6 .25
6 .65
7 .35

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

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

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

Euro-Dollar Deposit Rates

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

14 -Dec -94 21-Dec -94 28-•Dec -94

Selected Euro-dollar & U.S. Money Market Rates

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

5 .50
5 .85
-0 .35

5 .43
5 .47
-0 .04

5 .41
5 .48
-0 .07

5 .41
5 .56
-0 .15

5 .56
5 .45
0 .11

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

5 .91
5 .95
-0 .03

6 .25
6 .26
-0 .01

6 .29
6 .33
-0 .04

6 .24
6 .26
-0 .02

6 .27
6 .30
-0 .03

5 .91
5 .90
0 .01

6 .25
6 .18
0 .08

6 .29
6 .24
0 .05

6 .24
6 .15
0 .09

6 .27
6 .34
-0 .07

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

5 .96
6 .06
-0 .10

6 .22
6 .35
-0 .13

6 .29
6 .36
-0 .06

6 .27
6 .57
-0 .30

6 .27
6 .51
-0 .24

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

5 .91
5 .93
-0 .02

6 .25
6 .18
0 .07

6 .29
6 .18
0 .10

6 .24
6 .09
0 .15

6 .27
6 .33
-0 .07

Euro-dollar deposit
Swiss interbank, covered
Differential

5 .91
5 .95
-0 .04

6 .25
6 .10
0 .15

6 .29
6 .16
0 .13

6 .24
5 .73
0 .51

6 .27
6 .21
0 .05

9 .04
7 .86
7 .32
4 .56
5 .25
7 .45
8 .54
7 .82

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

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

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

Chart 8.

Interest Arbitrage, 3-Month Funds

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

Chart 9.

Long Term Government Bellwether Bond Yields
10-year maturity, where available
9 .11
7 .95
7 .33
4 .59
5 .29
7 .43
8 .45
7 .89

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

Stock Indices

(Wednesday figures)

135 .92
139 .15
Canada
135 .96
136 .41
149 ,40
149 .35
France
152 .62
153 .23
114 .21
116 .83
Germany
115 .56
115 .18
115 .09
113 .28
115 .34
Japan
114 .97
147 .86
150 .30
Netherlands
147 .97
148 .67
217 .92
Switzerland
213 .67
213 .07
214 .00
United Kingdom
177 .87
182 .76
179 .97
183 .51
United States
181 .47
182 .56
184 .47
182 .61
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



140 .01
148 .85
118 .22
117 .34
150 .95
219 .10
184 .71
184 .73
to SBF:

; otcow-* •.

FEDERAL RESERVE statistical release
H.10(512)

December 30, 1994

FOREIGN EXCHANGE RATES
FOR THE WEEK ENDING

DECEMBER 30, 1994

The Board of Governors of the Federal Reserve System is advised that the Federal Reserve Sank of New York has certi
for customs purposes the following noon buying rates in New York City for cable transfers payable m 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:
"(UNITED STATES

MONETARY
UNIT
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

DOLLAR

Dec. 26

H

0

L

I

D

A

Y

(CURRENCY UNITS PER DOLLAR)
Dec. 29
Dec. 28
Dec. 27

Dec. 30

0.7765
11.096
32.400
1.4005
8.4788
6.1800
1.2063
4.7800
5.4465
1.5765
243.98
7.7390
31.413
1.5260
1642.50
100.46
2.5625
5.7500
1.7653
0.6425
6.8810
161.98
1.4645
3.5655
794.20
133.370
49.620
7.4920
1.3305
26.450
25.130
1.5450

0.7775
11.068
32.310
1.4035
8.4718
6.1670
1.2098
4.7840
5.4320
1.5714
243.19
7.7399
31.410
1.5260
1642.25
100.33
2.5630
5.3500
1.7603
0.6428
6.8620
161.49
1.4649
3.5610
793.60
133.110
49.670
7.4955
1.3286
26.450
25.134
1.5435

0.7761
10.904
31.860
1.4078
8.4691
6.0865
1.2261
4.7520
5.3510
1.5495
240.24
7.7386
31.393
1.5445
1626.75
99.65
2.5602
5.0000
1.7358
0.6425
6.7705
159.34
1.4623
3.5480
793.20
132.120
49.660
7.4560
1.3097
26.390
25.095
1.5602

0.7753
10.904
31.850
1.4030
8.4662
6.0840
1.2266
4.7485
5.3445
1.5495
240.47
7.7375
31.373
1.5440
1622.00
99.60
2.5545
5.0000
1.7360
0.6402
6.7640
159.10
1.4585
3.5450
792.70
131.730
49.620
7.4295
1.3100
26.290
25.105
1.5665

90.03

89.91

88.98

88.85

*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
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