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(516/517) Selected Interest & Exchange Rates Weekly Series of Charts January 9, 1989 DIVISION OF INTERNATIONAL FINANCE Prepared by the FINANCIAL MARKETS SECTION BOARD OF GOVERNORS FEDERAL RESERVE SYSTEM Washington, DuC. 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 $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 RATIO S MARCH 197: 1-100 SCALE \ 1973-100 140 140 FOREIGN CURRENCY PRICE OF U.S. DOLLAR 120 BELGIAN FRANC 120 100 100 90 90 80 80 70 70 280 280 JAPANESE YEN SWISS FRANC 240 — 240 200 200 180 180 160 160 140 140 120 I I I I I 120 I 100 100 CANADIAN DOLLAR 90 90 U.K. POUND 80 80 70 70 60 60 50 I I I I I I I II 50 200 — 180 __ DUTCH GUILDER 200 GERMAN MARK 160 140 180 160 ^ - 140 120 120 100 I I I I I 100 I 120 60 ITALIAN LIRA 100 90 50 FRENCH FRANC 45 80 40 70 - 30 60 I 50 35 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 U. K. POUND A ' A* ^ t I I I i i 1 i 1 GERMAN MARK 1 1 1 1 JAPANESE YEN \ I I I I I I i l i VI I 1 1 ^ r 1 / I I 1 I 1 1 1 1 1 iiiiiiniii ITALIAN LIRA FRENCH FRANC — 4 - 8 12 12 ~ DUTCH GUILDER SWISS FRANC I i y 1987 1989 1987 CHART3 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. OLLARS PER FINE OUNCE U.S. DOLLARS PER FINEOI 520 520 500 500 1 2 . 5 Kg B A R S 480 480 AFTERNOON FIXING PRICE 460 460 440 440 420 420 400 400 380 380 360 360 340 340 320 320 300 I I I I I I I 1986 1987 1988 I I I I I I 1989 300 CHART4 CALL MONEY RATES WEEKLY SERIES PERCENT PER ANN PER ENT PER ANNUM 16 16 12 8 U.S. FEDERAL FUNDS 12 FRANCE v j L>v\v 8 4 4 0 I I I I I I i Illllllllll i i Illllllllll 0 16 16 CANADA 12 12 8 GERMANY 8 4 4 0 I I I 0 16 20 UNITED KINGDOM SWITZERLAND 16 12 12 8 8 4 4 NETHERLANDS Illllllllll 0 1987 1989 0 1987 1989 CHART 5 3-MONTH INTEREST RATES WEEKLY SERIES PERCENT PER ANh ENT PER ANNUM 12 12 FRENCH INTERBANK RATE 10 10 U.S. CD'S 8 8 6 6 WEIGHTED AVERAGE FOREIGN RATE 4 4 iiliilnlii 2 2 16 16 14 - U.K. INTERBANK STERLNG - 14 - 12 CANADIAN FINANCE CO. PAPER 12 10 10 8 8 I 6 1 1 1 1 1 1 i l l n l i i l ii 8 8 GERMAN INTERBANK RATE 6 SWISS INTERBANK RATE - 4 6 4 2 0 6 - l l l l l l l I I I I I 2 0 I 10 10 NETHERLANDS INTERBANK RATE 8 - 8 JAPANESE GENSAKI RATE 6 6 4 - 2 I 1987 1989 I I I I 1987 I 4 2 CHART 6 EURO-DOLLAR DEPOSIT RATES LONDON AVERAGES FOR WEEK ENDING WEDNESDAY ENT PER ANNUM PERCENT PER ANh 14 14 OVERNIGHT 12 __ 3-MONTH — 12 10 10 8 8 6 - I I I 4 I I I 6 4 14 14 6-MONTH 7-DAY 12 — 12 10 10 8 8 6 - IIlllllllI I 4 I I I I I I 4 14 14 12 6 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 ANf 14 14 12 12 10 10 3-MONTH FEDERAL FUNDS EURO-DOLLAR DEPOSITS DASHED LINE 8 8 6 6 OVERNIGHT 90-DAY CD'S EURO-DOLLAR DEPOSITS DASHED UNE 4 4 I 111111111111111111111 2 I I II I I IIII 2 2 DIFFERENTIAL DIFFERENTIAL 1 1 + 0 - i i I i i I i i I i i I i i 11 i I i i I i 1 2 1987 iENTlAL SCALE =. 2 PERCENT ON RATE SCALE 1989 I I + | I I 0 I I 1987 I 11111111111 11111111111 1989 1 CHARTS INTEREST ARBITRAGE: 3-MONTH FUNDS DIFFERENTIAL: PLUS(+), INDICATES FAVOR DOLLAR A S S E T S AVERAGES FOR WEEK ENDING WEDNESDAY ENT PER ANNUM PERCENT PER ANN 16 16 12 INTERBANK STERLING COVERED LONDON 12 CANADIAN FINANCE CO. PAPER, CO V ERED 8 8 EURO-DOLLAR D E P O S I T S DASHED LINE 4 0 I I I I I I IIIIIIIIIIMIHIMIIIIIII I I I U.S. COMMERCIAL PAPER DASHED LINE 4 I 0 I I I I ill1111111111ill111111 2 2 DIFFERENTIAL DIFFERENTIAL + + 0 0 2 I I I ' I ' I I III I I I I ' l l I I ' i l l llll1111 III l l l l l l l l l 16 12 12 INTERBANK DM COVERED FRANKFURT S W I S S INTERBANK (SF) COVERED 8 8 4 2 16 EURO-DOLLAR D E P O S I T S DASHED LINE EURO-DOLLAR D E P O S I T S DASHED LINE 0 4 ilu hili hiil i ii h i III h i I n h i l l i h i 0 2 2 DIFFERENTIAL DIFFERENTIAL + + 0 0 I I III I I I I l l l l I I I I l l l l I I 2 1987 1989 I PERCENT ON DIFFERENTIAL SCALE = 2 PERCENT ON RATE SCALE I 1987 I IIIhiliihiliihihilu 1989 2 CHART 9 LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES PERCENT PER ANI DENT PER ANNUM 14 14 12 CANADA UNITED STATES — \ 10 . A > \ y v / V 10 8 6 - I II I II I I I I I I 14 UNITED KINGDOM __ FRANCE v - w" V 10 8 6 I I I I I I I I I I I - I 8 6 10 JAPAN SWITZERLAND 6 - I 2 I I i i i 8 6 \A 4 4 i l l n i l 11 ii 10 8 12 10 10 8 - 8 6 14 12 12 2 10 NETHERLANDS MONTHLY GERMANY - 6 6 4 - I I I 2 8 1987 1989 I I I 1987 4 2 1989 CHART 10 INDUSTRIAL STOCK INDICES WEEKLY SERIES RATIO SCALE 1969-100 RATIO SCALE 1969-100 600 500 - UNITED STATES 400 NETHERLANDS — 300 w w/ 200 I 150 I i I i 11111111111 i ,,||,|,|||, — 800 400 GERMANY JAPAN 600 - - - v 500 I v y yv, , - - 300 ~ 250 / W 400 - 300 —J 200 A v / i - i - 200 - 150 ..I..I..I.. 100 - i i i - Ml,,I,,I,, i I I I 1 1 ..1.III.In 1 600 300 SWITZERLAND 250 FRANCE J / 200 / ' V ~ 150 100 - X — I I I I I I I 400 V \r 300 *v I I I I I 111111111111 l l l l l l l l l l l 600 200 600 500 500 - CANADA UNITED KINGDOM 400 400 ' 300 200 500 I I I > I I 1987 I l y * V ^ w V ' 300 111 200 1989 1987 1989 LAST 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 RATES ( U . S . CENTS) GERMAN MARK JAPANESE YEN DUTCH GUILDER U . K . POUND CANApiAN DOLLAR FRENCH FRANC SWISS FRANC BELGIAN FRANC I T A i l A S LI El SWEDISH KRONA INDICES, MARCH 1 9 7 3 BASE RATES - WEIGHTED AVERAGE EXCHANGE VALUE I N D I C E S , ( G - 1 0 COUNTRIES PLUS SWITZERLAND) CHART 2 . 56.23 C.60075 49.81 180.69 83.89 1 6.46 66.30 2. 68123 0.07638 16. 29 JAN. JAN. JAN. JAN. JAN. JAN. JAN. JAN. JAN. 4 4 4 4 4 4 4 4 4 158.18 209.66 142.99 73.08 83.61 74.18 213.31 10 5 . 6 5 43.39 MAR 1 9 7 J 4 4 4 4 4 4 4 4 4 4 4 9 2 . 84 161.38 21 4 . 6 0 137.71 66.32 7 7 . 43 6 7 . 16 205.29 9S.b4 3 8 . 22 6 7 . 17 4 4 4 4 4 - 1 . 53 -3.56 3.78 0.69 4.34 3.49 4.66 -2.56 = 100 JAN. JAN. JAN. JAN. JAN. JAN. JAN. JAN. JAN. JAN. JAN. J-MONTH FORWARD EXCHANGE RATES, PREMIUM OR DISCOUNT CABALZAS CCLLAI U.K. POUND GERMAN MARK FRENCH FRANC SWISS FRANC DUTCH GUILDER JAtASBSE XEB ITALIAN LIRA 4 4 4 4 4 4 4 4 4 4 100 GERMAN MARK JAPANESE YEN DUTCH GUILDER O . K . fCGBD CANADIAN DOLLAR FRENCH FRANC S H I S S FRANC BELGIAN FRANC ITALIAN LIRA U. S . DOLLAR GERMAN MARK uAEANESE YEN DUTCH GUILDER U . K . POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC EEIGIAK fBANC ITALIAN LIRA SWEDISH KRONA JAN. JAN. JAN. JAN. JAN. JAN. JAN. JAN. JAN. JAN. JAN. JAN. JAN. JAN. JAN. JAN. JAN. JAN. 4 LAST VALUE PLOTTED DATE VALUE S E R I E S NAME CHABT 3 . GOLD PRICE I S LONDON, AFTERNOON -FIXING U.S. CHART 4 . DOLLARS PER PINE CUSCB JAN. JAN. JAN. JAN. JAN. JAN. JAN. JAN. JAN. 4 4 4 4 4 4 4 4 4 9.22 9.30 12.53 1C. 22 5.37 4.17 8.48 4.41 4. 25 JAN. JAN. JAN. JAN. JAN. JAN. JAN. JAN. JAN. 4 4 4 4 4 4 4 4 4 9.17 5.38 4.17 1 1 . 10 1 3 . 06 4.69 8.52 5.70 %37 JAN. JAN. JAN. JAN. JAN. JAN. 4 4 4 4 4 4 S.30 9.03 9.09 9.20 9.33 9.55 EURO-DOLLAR DEPOSIT RATES: LONDON OVERNIGHT 7-DAY 1-MONTH 3-MONTH 6-MONTH 1-YEAR CHART 7 . 410.40 3-UCNlfc I N 1 E E E S I BATES U . S . 90-DAY C D ' S , SECONDARY MARKET GERMAN INTERBANK LOAN JAPANESE GENSAKI RATE CANADIAS FINANCE EiPEB INTERBANK STERLING SWISS INTERBANK LOAN FRENCH INTERBANK RATE NETHERLANDS INTEBBANK RATE WEIGHTED AVERAGE FOREIGN INTEREST RATE ( G - 1 0 COUNTRIES PLUS SWITZERLAND) CHART 6 . 4 CALL HONEY RATES U. S . FEDERAL FUNDS OVERNIGHT EURO-DOLLAR DEPOSITS U,K. CANADA GERMANY JAPAN FRANCE NETHERLANDS SWITZERLAND CHABT 5 . JAN. SELEC1ED EC6C-DCL1JB ISC C. S. KCNEt EiflKET BATES OVERNIGHT EURO-DOLLAR DEPOSITS U . S . FEDERAL FUNDS ElfFEBEtllAI JAN. JAN. JAN. 4 4 4 9.30 9.22 -0.08 3-MONTH EURO-DOLLAR DEPOSIT RATE U . S . 90-DAY C D ' S , SECONDARY MARKET DIFFERENTIAL JAN. JAN. JAN. 4 4 4 9 . 20 9 . 17 0.03 LAST VALUE PLOTTED DATE VAiUB S E R I E S NAME CHART 8 . INTEREST ARBITRAGE, 3-MONTH FUNDS EURO-DOLLAR DEPOSIT INIEJE1BR S I I B I 1 I G (ICKECN), DIFFERENTIAL JA N. JAN. JA*. 4 4 4 9.20 9.39 -0.19 U . S . COMMERCIAL PAPER CANADIAN FINANCE PAPER, COVERED INFERENTIAL JAN. JAB. JAN. 4 4 4 9.03 9 . 52 -0.49 EURO-DOLLAR DEPOSIT INTERBANK DM (FRANKFURT) , COVERED DIFFERENTIAL JAN. JAN. JAN. 4 4 4 9.20 9.21 -0.00 EURO-BCItAS EEECSIX SWISS INTERBANK, COVERED DIFFERENTIAL JAN. JAN. JAN. 4 4 4 9.20 9.08 0.12 EEC* DEC. DEC. DEC. DEC. EEC. SEPT. DEC. 30 30 30 23 16 16 9 . 17 6. 35 4 . 16 4 . 22 1 0 . 42 6 . 97 6 . 43 8 . 91 CHART 9 . COTIRIt LONG TERM GOVEBMENT BOND YIELDS UNITED STA1BS GERMANY JAPAN SWITZERLAND CANADA FRANCE NETHERLANDS (MONTHLY) UNITED KINGDOM 30 U . S . CORPORATE AAA BONDS CHART 1 0 . 9.33 STOCK INDICES UNITED STATES UNITED KINGDOM CANADA GERMANY SWITZERLAND NETHERLANDS FRANCE JAPAN MAI JAN. JAN. JAN. JAN. JAN. JAN. JAN. JAN. 4 4 4 4 4 4 4 4 298.84 320.94 334.94 243.42 205.56 307.59 420.51 629.84 FEDERAL RESERVE statistical release H.101512) JANUARY 9 , 1989 FOREIGN EXCHANGE RATES FOR THE MEEK ENDING JANUARY 6 , 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 tor cable transfers payable in foreign currencies: COUNTRY MONETARY UNIT •AUSTRALIA AUSTRIA BELGIUM CANADA CHINA,P.R. DENMARK FINLAND FRANCE GERMANY GREECE HONG KONG INDIA "IRELAND ITALY JAPAN MALAYSIA NETHERLANDS *NEH ZEALAND NORWAY PORTUGAL SINGAPORE SOUTH AFRICA SOUTH KOREA SPAIN SRI 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 HON PESETA RUPEE KRONA FRANC DOLLAR BAHT POUND MEMO; •UNITED STATES DOLLAR JAN. H 0 L I D A Y 2 1 CURRENCY UNITS PER DOLLAR) JAN. 4 JAN. 3 JAN. 5 JAN. 6 86.60 12.410 36.990 1.1907 3.7314 6.8300 4.1190 6.0255 1.7640 146.650 7.8080 15.0200 151.65 1299.00 123.60 2.6990 1.9920 63.500 6.5075 145.600 1.9380 2.3600 686.90 112.300 33.060 6.0960 1.4973 NA 25.210 182.25 86.98 12.568 37.470 1.1921 3.7314 6.9122 4.1690 6.1110 1.7879 148.700 7.8090 15.0800 149.30 1314.00 125.05 2.7090 2.0180 63.650 6.5810 150.100 1.9415 2.3800 686.40 113.100 33.065 6.1600 1.5188 NA 25.180 180.70 86.79 12.620 37.620 1.1895 3.7314 6.9305 4.1900 6.1250 1.7950 148.950 7.8090 15.0500 149.15 1316.00 125.59 2.7090 2.0260 63.800 6.5930 147.500 1.9405 2.3755 686.50 113.600 33.070 6.1800 1.5310 28.210 25.230 179.70 86.25 12.750 38.030 1.1952 3.7314 7.0025 4.2280 6.1920 1.8140 149.700 7.8095 15.0700 147.75 1330.50 126.62 2.7200 2.0480 63.650 6.6450 148.800 1.9410 2.3840 686.60 114.570 33.085 6.2300 1.5490 28.200 25.270 178.00 92.13 93.17 93.48 94.38 •INDEX OF WEIGHTED AVERAGE EXCHANGE VALUE OF U.S. DOLLAR AGAINST CURRENCIES OF OTHER G-10 COUNTRIES. MARCH 1973 = 100. WIGHTS 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. •VALUE I S U.S. CENTS
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