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(516/517) Selected Interest & Exchange Rates Weekly Series of Charts January 30,1989 Prepared by the FINANCIAL MARKETS SECTION DIVISION O F INTERNATIONAL FINANCE BOARD OF GOVERNORS FEDERAL RESERVE SYSTEM Washington, DXX 20661 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 $24.00 per year or $.60 each in the United States, its possessions, Canada, and Mexico; 10 or more of the same Issue to one address, $22.50 per year or $.55 each. Elsewhere, $30.00 per year or $.70 each. Address requests to Publications Services, Division of Administrative 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 SCALE \1973-100 140 RATIOS MARCH 1971 140 FOREIGN CURRENCY PRICE OF U.S. DOLLAR 120 1.100 BELGIAN FRANC 120 100 100 90 90 80 80 I 70 280 240 200 - SWISS FRANC J y ^ y v < w 180 , : I I I I 70 I 280 JAPANESE YEN — 240 200 180 160 160 140 140 120 I I I I I I iiliiliiln I I I I I I n i l M i l l II 100 120 100 CANADIAN DOLLAR 90 90 U.K. POUND 80 80 70 70 60 60 50 I I I I i I I ± _ L 50 200 200 180 - DUTCH GUILDER 160 100 180 160 - 140 120 GERMAN MARK - A 140 V 120 - I I I I I I I I I I 100 I 120 60 ITALIAN LIRA 100 90 50 FRENCH FRANC 45 80 40 70 35 60 30 50 I 1987 1989 I I I I 1987 I 25 1989 CHART2 3-MONTH FORWARD EXCHANGE RATES PREMIUM (+) OR (-) AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER ANNUM PERCENT PER ANNUM 4 4 CANADIAN DOLLAR /V I I I I I s U. K. POUND — / \ v ^\j I I I GERMAN MARK l I I I SWI S S FRANC I I I I I ,,luluI,i r~\ax V~ I I /r - " V I I I I I I rv nil iliilii DUTCH GUILDER V n i l H i l l II I I I I I I ITALIAN LIRA v 12 I \J^ FRENCH FRANC 1987 I ' l I JAP ANESEYEN v l / / A* < 1989 I I I 12 1937 1989 CHART 3 PRICE OF GOLD IN LONDON A V E R A G E S F O R W E E K ENDING W E D N E S D A Y U.S. U.S. DOLLARS PER FINE Ol DLLARS PER FINE OUNCE 520 520 500 500 12.5 Kg B A R S 480 480 AFTERNOON FIXING PRICE 460 460 440 440 420 420 400 400 380 380 360 360 340 340 320 320 I I I I I I I I I I I 300 1986 1987 1988 I I I I I I I I I I 1989 300 CHART4 CALL MONEY RATES WEEKLY SERIES ENT PER ANNUM PERCENT PER AW 16 12 16 U.S. FEDERAL FUNDS 12 FRANCE 8 8 4 4 0 J_L iilnliilii 0 16 16 CANADA 12 12 8 GERMANY 8 4 4 0 0 16 20 UNITED KINGDOM SWITZERLAND 16 12 12 8 8 4 NETHERLANDS i 0 1987 4 1989 0 1987 1989 CHARTS 3-MONTH INTEREST RATES WEEKLY SERIES PERCENT PER ANN PEP ENTPER ANNUM 12 12 FRENCH INTERBANK RATE 10 10 U.S. CD'S 8 8 6 6 WEIGHTED AVERAGE FOREIGN RATE 4 4 I 2 I I I I ll 2 16 16 14 U.K. INTERBANK STERLING — 14 - 12 CANADIAN FINANCE CO. PAPER 12 - 10 10 8 6 - - I I I I I 1 1 1 1 1 1 1 I 6 8 8 6 8 SWISS INTERBANK RATE GERMAN INTERBANK RATE - 6 4 4 2 - 0 I I I I I 2 0 I 10 10 NETHERLANDS INTERBANK RATE 8 — 8 JAPANESE GENSAKI RATE 6 / - v ~ 4 2 6 v 4 I I 1987 I I 1989 I I I I 1987 2 I 1989 CHART 6 EURO-DOLLAR DEPOSIT RATES LONDON AVERAGES FOR WEEK ENDING WEDNESDAY 14 14 OVERNIGHT 12 3-MONTH 12 10 10 8 8 6 6 4 4 14 14 6-MONTH 7-DAY 12 12 10 10 8 8 6 6 4 4 14 14 12 1-MONTH — — 1-YEAR — — 12 10 10 8 8 6 4 - I I I I I 1987 - I I 1989 I I I I 1987 I 6 4 1989 CHART7 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 14 14 12 12 10 10 3-MONTH FEDERAL FUNDS EURO-DOLLAR DEPOSITS DASHED UNE v / \ V OVERNIGHT 90-DAY C D ' S DASHED UNE EURO-DOLLAR DEPOSITS — 4 1 1111111111 2 - I _L_1 I 11111111111111111111111 I I I I I I I I I I I 1I I I I I I 2 DIFFERENTIAL DIFFERENTIAL yvxw^wA^ I I I ! I I I I I IIIIIIIIIII I 1987 1 PERCENT ON DIFFERENTIAL SCALE - 2 PERCENT ON RATE SCALE IIIIIIIIIII 1989 I I I I I 1987 I 1 1 1 1 1 1 1 1 1 II 1 1111111111 1989 CHARTS INTEREST ARBITRAGE: 3-MONTH FUNDS DIFFERENTIAL: PLUS(+), INDICATES FAVOR DOLLAR ASSETS AVERAGES FOR WEEK ENDING WEDNESDAY ENTPER ANNUM PERCENT PER ANN 16 16 12 INTERBANK STERLING 12 CANADIAN FINANCE CO. PAPER, COVERED COVERED LONDON 8 8 EURO-DOLLAR DEPOSITS 4 0 U.S. COMMERCIAL PAPER DASHED LINE I I I I I I 4 DASHED LINE I liiliilnlnliiliiliiliil I I I I I I I l i i 11 l i i 111 l i i 1111 i l l 11 2 2 DIFFERENTIAL DIFFERENTIAL + + 0 0 iiliiliiIii 2 iiliiliilii 11 III h i l l III i l l i l l I I n 2 16 16 12 12 INTERBANK DM COVERED FRANKFURT SWISS INTERBANK (SF) COVERED 8 8 EURO-DOLLAR DEPOSITS EURO-DOLLAR DEPOSITS 4 0 0 I 1 I I 1 I 4 DASHED LINE DASHED LINE III1 II1 II1 II1 I I1 II1 IIIII1 1 M 1 1 M 1 I I l l l l l l I I I I I I I ill ill0 2 2 DIFFERENTIAL DIFFERENTIAL + + 0 0 llllll 2 1987 IllllllllI I 1989 1 PERCENT ON DIFFERENTIAL SCALE « 2 PERCENT ON RATE SCALE III l l l l l l l l 1987 llllllI I II I 2 1989 CHART9 LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES CENT PER ANNUM PERCENT PERANI 14 14 NITED STATES 12 CANADA 12 V A A ^ 10 10 8 8 1 1 1 6 1 1 1 ii 11 H i i l ii ii l u l u h i 14 12 10 8 6 14 „ UNITED KINGDOM - v vzv I I I I I __ FRANCE 12 -V Kr I I I I I I 10 K v 8 I 6 10 8 6 10 SWITZERLAND JAPAN 8 6 6 4 4 2 l I I l l l 2 10 8 10 NETHERLANDS MONTHLY GERMANY - 6 6 4 2 8 - I I 1987 I I 1989 I I I I 1987 I 4 2 1989 CHART 10 INDUSTRIAL STOCK INDICES WEEKLY SERIES RATIO SCALE 1969-100 RATIO SCALE 1969-100 600 500 UNITED STATES 400 W 300 A y NETHERLANDS z y ' / ^ — * 200 150 i i i i i i 800 JAPAN GERMANY 600 - - 500 - - 400 - 300 —J A v / — i 200 - i i I I I I . . I, i 300 SWITZERLAND 250 ' 200 150 100 - - — I I I I I I 600 500 UNITED KINGDOM CANADA 400 300 200 f V -yZw^yvvxJ I I I I I 1987 f I 1989 1987 1989 L A S T VALUE PLOTTED DATE VALUE S E R I E S NAME CHART 1 . SPOT EXCHANGE RATES AND I N D I C E S WEEKLY AVERAGES, NOON BUYING GATES (U.S. CENTS) GERMAN MASK JAPANESE YEN DUTCH GUILDER U . K . POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC BELGIAN FRANC I T A L I A N LIRA SWEDISH KRONA INDICES, MARCH 1 9 7 3 BASE RATES = WSIGHTED AVERAGE EXCHANGE VALUE I N D I C E S , ( G - 1 0 COUNTRIES P L U S SWITZERLAND) CHART 2 . 25 25 25 25 25 25 25 25 25 25 54.15 0. 77988 47.9b 176.62 8 4 . 19 15. 90 6 3 . 73 2.58619 0.07393 15.88 JAN. JAN. JAN. JAN. JAN. JAN. JAN. JAN. JAN. 25 25 25 25 25 25 25 25 25 1 5 2 . 33 2 0 4 . 20 137. 69 7 1 . 44 8 3 .,92 71. 65 20-5. 0 3 101. 91 4 2 . 00 25 25 25 25 25 25 25 25 25 25 25 95. 158. 213. 135. 66. 79. 66. 201. 9 8. 3 7. 66. 100 GERMAN MARK JAPANESE YEN DUTCH GUILDER U . K . POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC BELGIAN FRANC ITALIAN LIRA U . S . DOLLAR GERMAN MARK JAPANESE YEN DUTCH GUILDER U . K . POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC BELGIAN FRANC I T A L I A N LIRA SWEDISH KRONA JAN. JAN. JAN. JAN. JAN. JAN. JAN. JAN. JAN. JAN. MAR 1 9 7 3 = 100 JAN. JAN. JAN. JAN. JAN. JAN. JAN. JAN. JAN. JAN. JAN. 60 57 78 54 34 68 29 82 27 83 96 3-MONTH FORWARD EXCHANGE R A T E S , PREMIUM OR DISCOUNT CANADIAN DOLLAR U . K . POUND GERMAN MARK FRENCH FRANC SWISS FRANC DUTCH GUILDER JAPANESE YEN I T A L I A N LIRA JAN. JAN. JAN. JAN. JANc JAN. JAM. JAN. 25 25 25 25 25 2b 25 25 - 1 . 88 - 3 . 49 3. 48 0. o3 3 . 64 3 . 21 4. 74 - 2 .,67 LAST VALUE PLOTTED DATE VALOE S E R I E S NAME CHART 3 . GOLD P R I C E I N LONDON, AFTERNOON F I X I N G U.S. CHART 4 . DOLLARS PER 4 F I N E OUNCE JAN. 25 40 5 . 8 1 JAN. JAN. JAN. JAN. JAN. JAN. JAN. JAN. JAN. 25 25 25 25 25 25 25 25 25 9.06 8. 83 12.95 10.61 5 . 14 3 . 80 8.41 5.57 4.38 JAN. JAN. JAN. JAN. JAN. JAN. JAN. JAN. JAN. 25 25 25 25 25 25 25 25 25 9.17 5. 77 4. 23 11.46 13.02 5. 47 8. 60 6.09 7 . 65 JAN. JAN. JAN. JAN. JAN. JAN. 25 25 25 25 25 25 8.83 9.00 9 . 11 9 . 26 9.40 9.60 CALL MONEY RATES U . S . FEDERAL FUNDS OVERNIGHT EURO-DOLLAR D E P O S I T S U. K. CANADA GERMANY JA PA N FRANCE NETHERLANDS SWITZERLAND CHART 5 . 3-MONTH I N T E R E S T RATES U . S . 9 0 - D A I C D ' S , SECONDARY MARKET GERMAN INTERBANK LOAN JAPANESE GENSAKI RATE CANADIAN FINANCE PAPER INTERBANK S T E R L I N G SWISS INTERBANK LOAN FRENCH INTERBANK RATE NETHERLANDS INTERBANK RATE WEIGHTED AVERAGE FOREIGN I N T E R E S T RATE * G - 1 0 COUNTRIES P L U S S 8 I T Z B R L A N D ) CHART 6 . EURO-DOLLAR D E P O S I T R A T E S : LONDON OVERNIGHT 7-DAY 1-MONTH 3-MONTH 6-MONTH 1-YEAR CHART 7 . SELECTED EURO-DOLLAR AND U . S . MONEY MARKET RATES OVERNIGHT EURO-DOLLAR D E P O S I T S U . S . FEDERAL FUNDS DIFFERENTIAL JAN. JAN. JAN. 25 25 25 8 . 83 9 . 06 - 0 . 23 3-MONTH EURO-DOLLAR D E P O S I T RATE U . S . 9 0 - D A Y C D ' S , SECONDARY MARKET DIFFERENTIAL JAN. JAN. JAN. 25 25 25 9 . 26 9 . 17 0 . 09 SERIES CHART 8 . LAST VALUE PLOTTED DATE VALUE NAME I N T E R E S T A R B I T R A G E , 3-MONTH FUNDS EURO-DOLLAR D E P O S I T INTERBANK STERLING (LONDON), DIFFERENTIAL U . S . COMMERCIAL PAPER CANADIAN FINANCE P A P E R , DIFFERENTIAL COVERED COVERED EURO-DOLLAR D E P O S I T INTERBANK DM ( F R A N K F U R T ) , DIFFERENTIAL COVERED EURO-DOLLAR D E P O S I T SWISS INTERBANK, COVERED DIFFERENTIAL CHART 9 . ' 10. 9 .,26 9 . 42 - 0 . 16 JAN. JAN. JAN. 25 25 25 9. 03 9. 53 - 0 . 50 JAN. JAN. JAN. 25 25 25 9 . 26 9 ., 3 0 - 0 . 03 JAN. JAN. JAN. 25 25 25 9 . 26 9 ., 1 b 0 . , 10 JAN. JAN. JAN. JAN. JAN. JAN. NOV. JAN. 20 13 13 13 13 20 9.02 6.49 4 . 19 4.37 10.47 8 . 79 6. 25 8.93 13 CORPORATE AAA BONDS CHART 25 25 25 LONG TERM GOVERMENT BOND Y I E L D S UNITED STATES GERMANY JAPAN SWITZERLAND CA NAD A FRANCE NETHERLANDS (MONTHLY) UNITED KINGDOM U.S. JAN. JAM. JAN. MAY 9.33 STOCK I N D I C E S UNITED STATES UNITED KINGDOM CANADA GERMANY SWITZERLAND NETHERLANDS FRANCE JAPAN JAN. JAN. JAN. JAN. JAN. JAN. JAN. JAN. 25 25 25 25 25 25 18 25 30 8 . 5 9 3 4 7 . 54 353.37 242.51 211.86 322.60 440.93 o 5 1 . 79 FEDERAL RESERVE statistical release H.10(512) JANUARY 2 7 , 1989 FOREIGN EXCHANGE RATES FOR THE WEEK ENDING JANUARY 2 7 , 1989 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: MONETARY UNIT COUNTRY ^AUSTRALIA AUSTRIA BELGIUM CANADA CHINA,P.R. DENMARK" FINLAND FRANCE GERMANY GREECE HONG KONG INDIA *1RELAND ITALY JAPAN MALAYSIA NETHERLANDS *NEN ZEALAND NORWAY PORTUGAL SINGAPORE SOUTH AFRICA SOUTH KOREA SPAIN S R I LANKA SWEDEN SWITZERLAND TAIWAN THAILAND "UNITED KINGDOM DOLLAR SCHILLING FRANC DOLLAR YUAN KRONE 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. 23 (CURRENCY UNITS PER DOLLAR) JAN. 2 4 JAN. 2 5 JAN. 26 JAN. 27 87.82 12.927 38.480 1.1885 3.7314 7.1345 4.2640 6.2555 1.8378 152.720 7.7990 15.1100 145.60 1347.50 127.80 2.7180 2.0750 62.250 6.6830 150.850 1.9425 2.3825 684.60 114.300 33.155 6.2775 1.5575 27.730 25.350 177.40 88.08 12.959 38.580 1.1870 3.7314 7.1550 4.2650 6.2680 1.8425 152.400 7.8020 15.1200 145.50 1348.25 127.65 2.7070 2.0805 61.170 6.6875 150.700 1.9370 2.3820 683.90 114.550 33.152 6.2850 1.5610 27.690 25.330 176.77 87.60 12.965 38.590 1.1857 3.7314 7.1600 4.2700 6.2755 1.8430 153.580 7.8015 15.1300 145.00 1348.50 127.73 2.7140 2.0805 60.650 6.6880 151.320 1.9385 2.3880 683.00 115.000 33.165 6.2915 1.5680 27.690 25.350 177.10 87.81 12.975 38.590 1.1823 3.7314 7.1650 4.2675 6.2680 1.8445 153.500 7.8020 15.0900 145.10 1350.00 128.15 2.7200 2.0825 61.090 6.6900 151.150 1.9335 2.3950 683.10 114.300 33.160 6.2910 1.5677 27.700 25.360 177.35 87.45 13.100 38.980 1.1877 3.7314 7.2300 4.2980 6.3380 1.8630 154.250 7.8030 15.1200 143.65 1362.25 129.24 2.7280 2.1030 60.800 6.7300 152.200 1.9360 2.3950 683.20 115.300 33.180 6.3340 1.5865 27.690 25.380 175.80 95.21 95.35 95.37 95.39 96.26 •INDEX OF WEIGHTED AVERAGE EXCHANGE VALUE OF U . S . DOLLAR AGAINST CURRENCIES OF OTHER G - 1 0 COUNTRIES. MARCH 1 9 7 3 = 1 0 0 . WEIGHTS ARE 1 9 7 2 - 7 6 GLOBAL TRADE OF EACH OF THE 1 0 COUNTRIES. SERIES REVISED AS OF AUGUST 1 9 7 8 . FOR DESCRIPTION AND BACK DATA, SEE "INDEX OF THE WEIGHTED-AVERAGE EXCHANGE VALUE OF THE U . S . DOLLAR: REVISION" ON PAGE 7 0 0 OF THE AUGUST 1 9 7 8 FEDERAL RESERVE BULLETIN. *VALUE I S U . S . CENTS
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