Full text of H.13 Selected Interest and Exchange Rates, Weekly Series of Charts : July 10, 1995

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Selected Interest &
Exchange Rates
Weekly Series of Charts

July 10,1995

DIVISION OF
INTERNATIONAL FINANCE

Prepared by the
FINANCIAL MARKETS
SECTION

BOARD OF GOVERNORS
FEDERAL RESERVE SYSTEM
Washington, DC. 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
150

RATIO SCALE
MARCH 1973=100

120

FOREIGN CURRENCY
PRICE OF U.S. DOLLAR

100

BELGIAN FRANC

—

110

80

60

130

I

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»

'

i

l

i

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i

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i

I

§ i

i

300

JAPANESE YEN

90
390
330

SWISS FRANC

260

270

220

180
100

210

1

1

i

1 '

1

1

l

» » i

I

i

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1 I

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I

I

CANADIAN DOLLAR
80

85

U.K. POUND

65

60

40
195

150
105

'

I

1 I

1 '

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•

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I

'

'

'

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I

I

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I

I

1 I

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I

45
215

GERMAN MARK

DUTCH GUILDER

175

I

195

175

155

»

135
115

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» I

'

» » I

'

I

»

155
75

ITALIAN LIRA

FRENCH FRANC

95

55

75

35

1

1

55




I

I

'

1

1993

1 I

I

» I

I

I

1 I
1995

'

'

'

I

'

'
1993

'

1 •

'

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I

I

» I
1995
15

CHART 2

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

PERCENT PER ANNUM

GERMAN MARK

U.K. POUND

8

8

2

CANADIAN DOLLAR

JAPANESE YEN

+
0

2

4

6

2

4

SWISS FRANC

DUTCH GUILDER

2
+
0
2
4

6
2
+
0

8
ITALIAN LIRA

FRENCH FRANC

2
4

6
8
10
12




1993

1995

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

12.5 Kg BARS
AFTERNOON FIXING PRICE
400

400

380

380

360

360

340

340

320

J — i — i — I — i — i — i
1991




1992

I

i

i
1993

i

I

i

i
1994

i

l

i

i
1995

i

320

CHART 4

CALL MONEY RATES
WEEKLY SERIES
[CENT PER ANNUM

PERCENT PER ANI

7

10

6

5

8

SWITZERLAND
U.S. FEDERAL FUNDS

6

4

4

JAPAN

3

2

0

2
10

10
9

8
8

NETHERLANDS

6

7
GERMANY

6
4
5

2

4
9

16

14

FRANCE

8

12
7
CANADA

10

6
8
5

6
4

UNITED KINGDOM

2




4

i
1993

1995

i

i

I

i

i
1993

i

I

i

i

i

I

i

i
1995

i

3

CHARTS

3-MONTH INTEREST RATES
WEEKLY SERIES
PERCENT PER ANNUM

PERCENT PER ANNUM
10

9

CANADIAN FINANCE PAPER
8

—

6

—

WEIGHTED AVERAGE
FOREIGN RATE

"Xx

U.S. CD'S

1

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i- i

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i

3
11

12
NETHERLANDS INTERBANK RATE

U.K. INTERBANK STERLING

i

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i

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i

i

i

3
13
11

FRENCH INTERBANK RATE

JAPANESE CD RATE

3 —

1

i

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I

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I

'

'

i

I

r n

i

5
11
GERMAN INTERBANK RATE

SWISS INTERBANK

i

i

i




I

i

i i
1993

I

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i

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I

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i i
1995

i

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l

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1993

I

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1

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l

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i i
1995

CHART 6

EURODOLLAR DEPOSIT RATES LONDON
AVERAGES FOR WEEK ENDING WEDNESDAY
CENT PER ANNUM

PERCENT PER ANI

8

OVERNIGHT

3-MONTH

6

4

1
2
8

'

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1 I

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» » i 1 » 1 i » » i i 11

I

7-DAY

6-MONTH

6

4

2
8

1

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1

1

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1

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» »

» '

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•

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I '
1995

1-YEAR

1-MONTH
6

4

2

1

1

1

I

1

•

1993




1

I

1

1

1

I

1 I I
1995

'

'

'

I

1

I 1
1993

I

1

1

'

I

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

7

7

3-MONTH
OVERNIGHT
EURO-DOLLAR DEPOSITS

EURO-DOLLAR DEPOSITS

90-DAY CD'S
DASHED LINE

FEDERAL FUNDS
DASHED LINE
J

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L

J

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I

DIFFERENTIAL

J




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1993

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L

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l__l

DIFFERENTIAL

I

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I

I
L
1995

J

I

I

I

I

I

1993

I

I

I

1995

CHART 8

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

CANADIAN FINANCE
CO. PAPER, COVERED

INTERBANK STERLING

6

COVERED LONDON

5

U.S. COMMERCIAL PAPER
t

EURO-DOLLAR DEPOSITS
4

\

DASHED LINE

DASHED LINE

3

2

2
1
DIFFERENTIAL

DIFFERENTIAL

1
7

1

INTERBANK DM

6

COVERED FRANKFURT

SWISS INTERBANK (SF) COVERED

5
EURO-DOLLAR DEPOSITS
4

A

DASHED LINE

3

2

2
1
DIFFERENTIAL
+
0

1




1993

1995

1993

1995

CHART 9

LONG-TERM GOVERNMENT BOND YIELDS
WEEKLY SERIES
RCENT PER ANNUM

PERCENT PER ANNl

9

UNITED STATES

UNITED KINGDOM

8

7

6

5
10

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FRANCE

CANADA
9

8

7

6
8

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JAPAN
7

6

5

I

4
9

NETHERLANDS

1

•

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1

1

1

1

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1

1

1

I

'

'

GERMANY

8

7

6

5

'

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I




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1993

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1995

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1993

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1995

I

CHART 10

STOCK INDICES
WEEKLY SERIES
RATIO SCALE
1986=100

RATIO SCALE
1986=100
200

220
UNITED STATES

UNITED KINGDOM

—

180

—

160

— 140

SWITZERLAND

JAPAN

GERMANY

'

i

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I

CANADA

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i

FRANCE

i

'

1

1

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1

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1

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•

'

100
180

NETHERLANDS

150

130 —

110




1993

1995

1993

1995

100

7-Jun-95
Chart 1.

14-Jun-95 21-Jun-95 28-Jun-95 5-Jul-95

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

3.4502
72 .597
20.161
70.798
0.06108
1.17976
63.295
85.862
159.20

3.4631
72.503
20.247
71.158
0.06070
1.18499
63.586
86.241
159.71

3.4740
72.500
20.362
71.389
0.06075
1.18076
63.764
86.117
160.20

3.4912
72.732
20.469
71.793
0.06132
1.18133
64.088
86.741
158.97

3.5171
72.821
20.656
72.355
0.06142
1.17918
64.564
87.065
159.36

135 .96
72 .36
90 .85
199 .16
35 .06
308 .90
181 .71
276 .23
64 .39

136 .47
72 .26
91 .24
200 .17
34 .84
310 .27
182 .54
277 .45
64 .60

136 .89
72 .26
91 .75
200 .82
34 .87
309 .16
183 .05
277 .05
64 .79

137 .57
72 .49
92 .24
201 .96
35 .20
309 .31
183 .98
279 .06
64 .30

138 .59
72 .58
93 .08
203 .54
35 .26
308 .75
185 .35
280 .10
64 .45

118 ,
.45
.71
59 ,
76,.55
191,.59
26,.96
297 ,
.98
161,.97
51,.05
243 ,
.58
52 ,
.28
82 ,
.26

118 .
.75
59..75
76 ,
.78
192 .32
27,.16
297..30
162 .
.42
.97
50 .
.76
244 .
51..69
82 .
.00

.25
119 .
59 .
.61
77 .
.27
193 .
.31
27..11
295..55
163..11
50..87
244 .
.83
51..63
81..64

-1..07
-1..32
1..58
-4 .71
.
5..02
1..77
2,
.83
-0,.52

-0 .81
-1 .17
1 .54
-4 .89
4 .91
1 .77
2 .95
-0 .56

-0 .74
-0 .92
1 .39
-4 .81
4 .83
1 .72
2 .85
-0 .80

-0 .80
-0 .88
1 .44
-4 .98
4 .87
1 .79
2 .96
-0 .81

384.20

386,.74

390 .35

389 .10

385 .57

6.03
5.94
7.45
7.47
4.45
1.24
4.13
3.14
6.05

6,.02
5,.94
7 .22
.
7 .40
,
4 .46
,
1,.21
4 .08
,
3,.04
6,.20

6 .00
5 .94
7 .19
7 .28
4 .44
1 .24
4 .06
2 .61
6 .58

5 .95
5 .99
7 .25
7 .14
4 .33
1 .22
4 .02
3 .08
6 .03

6 .06
6 .01
7 .20
7 .04
4 .71
1 .23
4 .00
3 .39
6 .44

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.

-1.29
-1.40
1.52
-4.66
4.88
1.42
2.62
-0.57

Gold Price in London, Afternoon Fixing

U.S. dollars per fine ounce
Chart 4.

118 .
.21
.79
59 ,
76 .17
191,.13
26,.97
299 ,
.58
161,.70
51,.39
244 ,
.24
52 ,
.17
82 ,
.39

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.

118..02
60,.02
76..00
190,.48
27 ,
.22
298 .85
161,.29
51..29
243,.70
52 ,
.12
82,.62

Call Money Rates

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




7-Jun-:95
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 .84
7 .34
7 .20
4 .43
1 .15
4 .26
3 .19
6 .56
4 .76

5 .95
7 .22
7 .21
4 .40
1 .15
4 .21
3 .18
6 .56
4 .75

5 .93
6 .91
7 .10
4 .40
1 .18
4 .20
3 .00
6 .57
4 .72

5 .89
6 .85
6 .79
4 .44
1 .16
4 .18
3 .05
6 .73
4 .70

5 .92
6 .94
6 .70
4 .50
1 .17
4 .19
3 .01
6 .82
4 .74

5 .94
5 .90
5 .90
5 .84
5 .77
5 .69

5 .94
5 .94
5 .94
5 .93
5 .86
5 .85

5 .94
5 .94
5 .96
5 .92
5 .79
5 .75

5 .99
5 .98
5 .97
5 .84
5 .73
5 .65

6 .01
6 .01
5 .99
5 .92
5 .84
5 .77

Euro-Dollar Deposit Rates

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

14 -Jun -95 21-Jun -95 28-Jun -95 5 -Jul-!95

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

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

5 .94
6 .03
-0 .09

5 .94
6 .02
-0 .08

5 .94
6 .00
-0 .06

5 .99
5 .95
0 .04

6 .01
6 .06
-0 .05

5 .84
5 .84
0 .01

5 .93
5 .95
-0 .02

5 .92
5 .93
-0 .01

5 .84
5 .89
-0 .05

5 .92
5 .92
-0 .00

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

5 .84
5 .98
-0 .14

5 .93
6 .03
-0 .10

5 .92
6 .00
-0 .08

5 .84
5 .92
-0 .07

5 .92
5 .99
-0 .07

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

5 .90
6 .02
-0 .12

5 .96
6 .13
-0 .17

5 .95
6 .08
-0 .13

5 .92
6 .09
-0 .17

5 .94
6 .12
-0 .18

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

5 .84
5 .96
-0 .12

5 .93
6 .00
-0 .07

5 .92
5 .96
-0 .04

5 .84
5 .84
0 .00

5 .92
5 .95
-0 .03

5 .84
5 .83
0 .01

5 .93
6 .03
-0 .10

5 .92
5 .97
-0 .05

5 .84
5 .92
-0 .08

5 .92
5 .99
-0 .07

7 .88
7 .44
6 .72
3 .04
4 .71
6 .80
7 .96
6 .26

7 .88
7 .50
6 .74
3 .05
4 .65
6 .86
8 .11
6 .16

7 .80
7 .47
6 .76
2 .83
4 .61
6 .90
8 .26
6 .09

7 .95
7 .58
6 .89
2 .79
4 .67
6 .99
8 .41
6 .22

3-month Euro-dollar deposit
U.S. 90-day CD's, secondary market
Differential
Chart 8.

Interest Arbitrage, 3-Month Funds

Euro-dollar deposit
Swiss interbank, covered
Differential
Chart 9.

Long Term Government Bellwether Bond Yields
10-year maturity, where available

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

7 .74
7 .37
6 .65
2 .97
4 .67
6 .74
7 .76
6 .13

Stock Indices (Wednesday figures)

Canada
149 .17
149 .70
150 .97
150 .92
France
153 .75
148 .62
148 .35
146 .01
Germany
118 .12
116 .70
118 .24
115 .66
Japan
95 .53
91 .77
90 .46
91 .01
Netherlands
157 .73
156 .54
156 .59
156 .05
Switzerland
228 .35
228 .20
230 .64
232 .98
United Kingdom
197 .79
194 .91
196 .52
191 .47
United States
210 .95
211 .98
214 .37
214 .42
Indices (in order, rebased to 1986=100) are Toronto Composite, CAC General spliced
at 22dec93, FAZ Aktien, Tokyo SB (Topix), CBS All-General, Swiss Bank Index,
Financial Times Ordinary, NYSE Composite



151 .74
148 .47
116 .08
91 .72
157 .46
234 .21
197 .54
215 .55
to SBF250

VoOlCOv/'.
^<v. •

FEDERAL RESERVE statistical release
0-y
July 10, 1995

H. 10(5X2)

FOREIGN EXCHANGE RATES
FOR THE WEEK ENDING
The Board

3

JULY 7, 1995

,?rnors of the Federal Reserve System is advised that the Federal Reserve Bank of New York has certified

for cus oms pun jses the following noon buying rates in New York City for cable transfers payable in foreign currencies.

COUNTRY

1
MONETARY
UNIT

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

DOLLAR

Jul. 3
0. 7100
9. 710
28. 410
1. 3723
8. 3207
5. 3915
1.,3343
4. 2800
4. 8370
1,,3805
224. 62
7..7385
31, 410
1,.6430
1625 .50
84 .80
2 .4387
6 2550
1 .5466
0 .6705
6 .1565
145.76
1 .3963
3 .6350
761 .00
120 .670
50.800
7 .2455
1 .1460
25 .900
24 .680
1 .5972

81 .55

(CURRENCY UNITS PER DOLLAR)
Jul. 6
Jul. 5
Jul. 4

H

O

L

I

D

A

Y

Jul. 7

0. 7100
9. 709
28. 400
1. 3703
8. 3201
5. 3895
1. 3362
4. 2740
4. 8280
1. 3803
224 38
7,,7392
31 .380
1 .6415
1620 .25
84 .94
2 .4420
6 .2700
1 .5474
0 .6714
6 .1515
145.56
1 .3970
3 .6355
760 .10
120 .130
50.550
7 .2445
1 .1468
25 .880
24 .690
1 .5950

0. 7115
9. 725
28. 450
1. 3693
8. 3200
5. 3965
1. 3354
4. 2795
4. 8365
1. 3822
224.,93
7. ,7400
31.,380
1.,6405
1620.,75
85..18
2.,4422
6..2500
1 .5490
0 .6757
6 .1555
145.94
1 .3973
3 .6340
759 .10
120 .420
51.500
7 .2510
1 .1488
25 .880
24 .700
1 .5985

0. 7157
9. 796
28. 630
1. 3640
8. 3200
5. 4245
1. 3291
4. 3015
4.,8530
1, 3927
226.,27
7.,7400
31. 390
1.,6320
1609., 00
86 ,77
2 ,4442
6.,1700
1 . 5606
0 .6774
6 .1940
146.85
1 .4005
3 .6440
759 . 00
120 .670
51.200
7 .2610
1 .1580
25 .930
24 .750
1 .5945

81 .52

81 .60

82 .02

•VALUE IS U.S. DOLLARS
M I N D E X 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.