Full text of H.13 Selected Interest and Exchange Rates, Weekly Series of Charts : January 8, 1990

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Selected Interest &
Exchange Rates
Weekly Series of Charts

January 8, 1990

DIVISION OF
INTERNATIONAL FINANCE

Prepared by the

BOARD O F GOVERNORS
FEDERAL RESERVE SYSTEM

FINANCIAL MARKETS
SECTION




Washington, DLC. 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 P R I C E - L O N D O N
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 S 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 m 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

140
130
120

BELGIAN FRANC

110
100
90
80
»

i

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i

I

i

i

i

i

i

i—

SWISS FRANC

i

I

I

'

i

'

I

i

i

»

JAPANESE YEN
—

70
280
260
240
220

200
180
160
140
'

'

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l

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l

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120
100

CANADIAN DOLLAR

U.K. POUND

90
80
70
60

i

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'

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•

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50
200

GERMAN MARK

180

DUTCH GUILDER

160
140
—

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100
60
55

ITALIAN LIRA
FRENCH FRANC

120

50
45

—

40
35
30
i

iI

I




I

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I I
1988

I

1

I

1

1

1

1 1
1990

i

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1988

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1990

25

CHART 2

3-MONTH FORWARD EXCHANGE RATES
PREMIUM (+) OR (-)
AVERAGES FOR WEEK ENDING WEDNESDAY
PERCENT PER ANNUM
4
CANADIAN DOLLAR

/

V

/

A

PERCENT PER ANNUM
4
U.K. POUND

z

• v

V / ^

x

^
"V-

1

1

I

I

1

1

1

I

1

1

I

_

I

I

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I

GERMAN MARK

1

1

1

1

1

JAPANESE YEN

1

1

1

1

1

1

1

1

1

1

SWISS FRANC

1

1

1

1

1

1

/

1

1

1




1

1

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•

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'

'

i

'

DUTCH GUILDER

1

1

1

1

1

1

1

1

1

FRENCH FRANC

12

i

•

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l

i

ITALIAN LIRA
v

1 1
1988

W

1

\

1

\
1

I

I

I

1
1990

1

•

'

'

I

i

1988

1990

12

J
CHART 3

L

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
520

U.S. DOLLARS PER FINE OUNCE
520

500 —

500

12.5 Kg BARS
AFTERNOON FIXING PRICE

480 —

480

460 —

460

440 —

440

420

420

400 —

400

380

380

360 —

360

340 —

340

J

320




1987

I

I

I
1988

I

I

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I

J

1989

1990

L

320

CHART 4

CALL MONEY RATES
WEEKLY SERIES
CENT PER ANNUM

PERCENT PER ANh

16

12

FRANCE

—

U.S. FEDERAL FUNDS

8

JAPAN
4

i

0
16

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»

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1

12
CANADA
GERMANY

8

4

I

0
16

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UNITED KINGDOM

1

i

SWITZERLAND

12

8

4

NETHERLANDS

0

I

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I

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1988

I

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1990

1988

I

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'
1990

'

CHARTS

3-MONTH INTEREST RATES
WEEKLY SERIES

P E R C E N T PER A N N U M
12

PERCENT PER A N N U M
12
FRENCH INTERBANK RATE
U.S. CD'S

WEIGHTED AVERAGE
FOREIGN RATE

i

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U.K. INTERBANK STERLING

l

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' I

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i

•

i

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»

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l

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•

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•

CANADIAN FINANCE CO.
PAPER

l

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l

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l

GERMAN INTERBANK RATE

—

i

l

l

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l

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l

SWISS INTERBANK RATE

I

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l

l

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'

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'

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NETHERLANDS INTERBANK RATE
JAPANESE GENSAKI RATE

I

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I

l

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1988

I

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l

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1990

i

'

'

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•
1988

•

I

'

'

1990

CHART 6

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

PERCENT PER AN

14

14

OVERNIGHT

12

3-MONTH

12

10

10

8

8

6

6

4
14

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7-DAY

12

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6-MONTH

4
14

12

10

10

8

8

6

6

4
14

I

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L

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'

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L

'

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1-MONTH

12

i

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'

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1-YEAR

i

4
14

12

10

10

8

8

6

6

4

i

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I

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1988

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1990

'

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1988

'

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1990

4

CHART 7

SELECTED EURO-DOLLAR AND U.S. MONEY MARKET RATES
DIFFERENTIAL: PLUS(+), FAVORS BORROWING IN U.S.
PERCENT PER ANNUM

PERCENT PER ANNUM

14

14

12

12

10

OVERNIGHT

10

3-MONTH

EURO-DOLLAR DEPOSITS

EURO-DOLLAR DEPOSITS ,

FEDERAL FUNDS

90-DAY CD'S

DASHED LINE

J—i

I

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DASHED LINE

i

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J — I — I

DIFFERENTIAL




1

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1988

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1990

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J

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L

1
1988

1

1

1

'

1

1

1

1
1990

1

I

DIFFERENTIAL

—

— I — I — l

I

1

1

l _ l

1

CHARTS

INTEREST ARBITRAGE: 3-MONTH FUNDS
DIFFERENTIAL: PLUS(+), INDICATES FAVOR DOLLAR ASSETS
AVERAGES FOR WEEK ENDING WEDNESDAY
PERCENT PER ANNUM
16

PE RCENT PER ANNUM
16

12

12

CANADIAN FINANCE
CO. PAPER, COVERED

INTERBANK STERLING
COVERED LONDON

8

0
2

U.S. COMMERCIAL PAPER

EURO-DOLLAR DEPOSITS

4

DASHED LINE

DASHED LINE

'

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Ip

DIFFERENTIAL

DIFFERENTIAL
+

0

2
16

"-'V/V ' V VV-y/WN V

I

'

12

I

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'

V ^ V

'

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'

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•

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INTERBANK DM

I

I

'

I

I

12

SWISS INTERBANK (SF) COVERED

COVERED FRANKFURT

2
16

8

0
2

EURO-DOLLAR DEPOSITS

EURO-DOLLAR DEPOSITS

4

DASHED LINE

DASHED LINE

'

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»

DIFFERENTIAL

DIFFERENTIAL
+

0

2

»

I

»




I

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1988

•

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1990

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1988

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1990

Ip

CHART9

LONG-TERM GOVERNMENT BOND YIELDS
WEEKLY SERIES
PERCENT PER ANNUM
14 f
UNITED STATES

PERCENT PER ANNUM
14
CANADA

12

12

10

10

'

I

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•

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L

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1

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1

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»

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14
UNITED KINGDOM

FRANCE

12

12

10

v

w

V/V ~ V~vy
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10

JxyVV

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10
SWITZERLAND

2
10

6
14

I

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JAPAN

I

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L

'

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»

NETHERLANDS

I

I

I




L

I

6
10

I I
1988

'

1

1

1

I

1

1

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10

GERMANY

I

»

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'
1990

'

'

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•

1

1988

1

I

•

•

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L

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1990

I

CHART 10

STOCK INDICES
WEEKLY SERIES

RATIO SCALE

RATIO SCALE
1986=100

1986=100

200

200
175

UNITED STATES

.NETHERLANDS

175

150

150

125

125

100

100
75

75

50
400

i

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l

t

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l

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•

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'

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I

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— GERMANY

350 — JAPAN

50
200
175

300

150

250

125

200

100

150

75

100
200

I

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— FRANCE

175 — SWITZERLAND

50
200
175

150

150

125

125

100

100
75

75

50
200

I

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175 — CANADA

i i i I i i i I i i i I i i i
, UNITED KINGDOM

50
200
175

150

150

125

125

100

100

75

50

75

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




1988

1990

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1988

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1990

50

SERIES NAME
CHART 1.

LAST VALUE PLOTTED
DATE
VALUE

SPOT EXCHANGE RATE AND INDICES

WEEKLY AVERAGES, NOON BUYING RATES (U.S. CENTS)
BELGIAN FRANC
CANADIAN DOLLAR
FRENCH FRANC
GERMAN MARK
ITALIAN LIRA
JAPANESE YEN
NETHERLANDS GUILDER
SWEDISH KRONA
SWISS FRANC
U.K. POUND

JAN.
JAN.
JAN.
JAN.
JAN.
JAN.
JAN.
JAN.
JAN.
JAN.

3
3
3
3
3
3
3
3
3
3

2.7896
86.27
17.20
58.77
.07843
.69078
52.03
16.05
64.15
161.22

JAN.
JAN.
JAN.
JAN.
JAN.
JAN.
JAN.
JAN.
JAN.

3
3
3
3
3
3
3
3
3

109.92
85.98
77.50
165.33
44.55
180.87
149.37
206.39
65.21

3
3
3
3
3
3
3
3
3
3
3

104.74
80.44
71.11
171.67
39.64
183.40
145.45
66.66
199.97
58.97
93.73

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
(G-10 COUNTRIES)
BELGIAN FRANC
CANADIAN DOLLAR
FRENCH FRANC
GERMAN MARK
ITALIAN LIRA
JAPANESE YEN
NETHERLANDS GUILDER
SWEDISH KRONA
SWISS FRANC
U.K. POUND
U.S. DOLLAR
2.

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




JAN.
JAN.
JAN.
JAN.
JAN.
JAN.
JAN.
JAN.
JAN.
JAN.
JAN.

JAN.
JAN.
JAN.
JAN.
JAN.
JAN.
JAN.
JAN.

3
3
3
3
3
3
3
3

-3.62
-3.15
-0.27
-4.44
1.45
-0.49
-0.92
-6.35

SERIES NAME
CHART 3.

LAST VALUE PLOTTED
DATE
VALUE

GOLD PRICE IN LONDON, AFTERNOON FIXING
JAN. 3

398.53

JAN.
JAN.
JAN.
JAN.
JAN.
JAN.
JAN.
JAN.
JAN.

3
3
3
3
3
3
3
3
3

8.32
8.83
12.00
11.09
8.06
6.41
8.65
8.21
14.81

JAN.
JAN.
JAN.
JAN.
JAN.
JAN.
JAN.
JAN.
JAN.

3
3
3
3
3
3
3
3
3

8.23
12.34
11.38
8.21
5.85
8.70
8.88
15.06
9.91

JAN.
JAN.
JAN.
JAN.
JAN.
JAN.

3
3
3
3
3
3

8.83
9.06
8.31
8.25
8.14
8.13

OVERNIGHT EURO-DOLLAR DEPOSIT RATE
U.S. FEDERAL FUNDS
DIFFERENTIAL

JAN. 3
JAN. 3
JAN. 3

8.83
8.32
0.51

3-MONTH EURO-DOLLAR DEPOSIT RATE
U.S. 90-DAY CD'S, SECONDARY MARKET
DIFFERENTIAL

JAN. 3
JAN. 3
JAN. 3

8.25
8.20
0.05

U.S. DOLLARS PER FINE OUNCE
4.

CALL MONEY RATES

U.S. FEDERAL FUNDS
OVERNIGHT EURO-DOLLAR DEPOSITS
CANADA
FRANCE
GERMANY
JAPAN
NETHERLANDS
SWITZERLAND
U.K.
5.

3-MONTH INTEREST RATES

U.S. 90-DAY CD'S, SECONDARY MARKER
CANADIAN FINANCE PAPER
FRENCH INTERBANK RATE
GERMAN INTERBANK RATE
JAPANESE GENSAKI RATE
NETHERLANDS INTERBANK RATE
SWISS INTERBANK RATE
U.K. INTERBANK STERLING
WEIGHTED AVERAGE FOREIGN INTEREST RATE
(G-10 COUNTRIES)
6.

EURO-DOLLAR DEPOSIT RATES

OVERNIGHT
7-DAY
1-MONTH
3-MONTH
6-MONTH
1-YEAR
CHART 7.




SELECTED EURO-DOLLAR AND U.S. MONEY MARKET RATES

SERIES NAME
CHART 8.

LAST VALUE PLOTTED
DATE
VALUE

INTEREST ARBITRAGE, 3-MONTH FUNDS

EURO-DOLLAR DEPOSIT
INTERBANK STERLING (LONDON), COVERED
DIFFERENTIAL

JAN. 3
JAN. 3
JAN. 3

8.25
8.48
-0.23

U.S. COMMERCIAL PAPER
CANADIAN FINANCE PAPER
DIFFERENTIAL

JAN. 3
JAN. 3
JAN. 3

8.25
8.60
-0.35

EURO-DOLLAR DEPOSIT
INTERBANK DM (FRANKFURT), COVERED
DIFFERENTIAL

JAN. 3
JAN. 3
JAN. 3

8.25
7.93
0.32

EURO-DOLLAR DEPOSIT
SWISS INTERBANK, COVERED
DIFFERENTIAL

JAN. 3
JAN. 3
JAN. 3

8.25
7.93
0.32

DEC.
DEC.
DEC.
DEC.
OCT.
DEC.
DEC.
DEC.

27
27
27

9.69
9.54
7.60
5.77
7.43
5.75
9.60
7.93

JAN.
JAN.
JAN.
JAN.
JAN.
JAN.
JAN.
JAN.

3
3
3
3
3
3
3
3

CHART 9.

LONG TERM GOVERNMENT BOND YIELDS

CANADA
FRANCE
GERMANY
JAPAN
NETHERLANDS (MONTHLY)
SWITZERLAND
UNITED KINGDOM
UNITED STATES

27
8
27
20

CHART 10. LONG TERM GOVERNMENT BOND YIELDS
CANADA
FRANCE
GERMANY
JAPAN
NETHERLANDS
SWITZERLAND
UNITED KINGDOM
UNITED STATES




133.44
152.32
115.99
217.88
111.86
137.47
152.69
145.41

FEDERAL RESERVE statistical release
".f44LRtS
J a n u a r y 8 , 1990

H.10(512)

FOREIGN EXCHANGE RATES
FOR THE WEEK ENDING

JANUARY 5 , 1990

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

DOLLAR
^AUSTRALIA
SCHILLING
AUSTRIA
FRANC
BELGIUM
DOLLAR
CANADA
YUAN
CHINA,P.R.
KRONE
DENMARK
MARKKA
FINLAND
FRANC
FRANCE
D. MARK
GERMANY
DRACHMA
GREECE
DOLLAR
HONG KONG
RUPEE
INPIA
POUND
*1RELAND
LIRA
ITALY
YEN
JAPAN
RINGGIT
MALAYSIA
GUILDER
NETHERLANDS
DOLLAR
*NEW ZEALAND
KRONE
NORWAY
ESCUDO
PORTUGAL
DOLLAR
SINGAPORE
RAND
SOUTH AFRICA
WON
SOUTH KOREA
PESETA
SPAIN
RUPEE
SRI LANKA
KRONA
SWEDEN
FRANC
SWITZERLAND
DOLLAR
TAINAN
BAHT
THAILAND
*UNITED KINGDOM POUND
MEMO:
**UNITED STATES

DOLLAR

Jan. 1

H
0
L
I
D
A
Y

(CURRENCY UNITS PER DOLLAR)
Jan. 4
Jan. 3
Jan. 2

Jan. 5

78. 550
12. 013
36. 050
1 . 1605
4 . 7339
6 . 6350
4 . 0700
5 . 8360
1. 7088
157. 90
7. 8120
16. 960
154. 30
1279. 00
146. 25
2, 7070
1. 9300
59, 300
6 .6375
150,.90
1,,9030
2 .5650
N .A.
110 .30
40 .018
6 .2300
1 .5768
N .A.
25 .710
161 .10

78. 180
12. 090
36. 180
1 . 1613
4 . 7339
6 . 6975
4 . 0925
5 . 8790
1. 7208
150. 00
7. 8140
16. 990
153. 30
1289,,00
145,,70
2,.7085
1,,9434
59..400
6,.6575
151,.35
1 .9085
2 .5770
683 .50
111 .12
40 .018
6 .2700
1 .5785
N .A.
N .A.
161 .00

78. 670
11. 846
35. 360
1 . 1614
4 . 7339
6 . 5525
4 . 0200
5 . 7505
1. 6835
158. 00
7. 8150
16. 940
155. 90
1265. 00
143. 37
2. 7050
1, 8960
59, 730
6,.5700
149,.80
1 .9000
2 .5350
684 .20
109 .00
40 .018
6 .1760
1 .5420
26 .110
25 .800
162 .93

78. 600
11. 810
3 5 . 300
1. 1600
4 . 7339
6 . 5570
4 . 0230
5 . 7430
1. 6805
157. 55
7. 8140
16. 930
156. 90
1263. 00
143. 82
2. 7075
1. 8981
59. 700
6, 5500
148..77
1,.9090
2 .5225
683 .70
109 .20
40 .018
6 .1720
1 .5370
26 .025
25 .710
163 .70

94 . 1 4

94 .50

92 . 8 4

92 .74

*VALUE I S U . S . CENTS
**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.