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(516/517) FEDERAL RESERVE BANK OF 1 CAQQ Selected Interest & Exchange Rates Weekly Series of Charts July 13, 1987 ; Prepared by the FINANCIAL MARKETS SECTION r DIVISION OF INTERNATIONAL FINANCE BOARD OF GOVERNORS FEDERAL*RESERVE SYSTEM Washington, D C. 20551 Table of Contents TABLES SUBSCRIPTION RATES: 1. LATEST FIGURES PLOTTED Weekly $15.00 per year or $.40 each in the United States, its possessions, Canada, and Mexico; 10 or more of the same issue to one address, $13.50 per year or $.35 each. Elsewhere, $20.00 per year or $.50 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. 2. D A I L Y CERTIFIED SPOT EXCHANGE RATES-H.10 RELEASE CHARTS 1. SPOT EXCHANGE RATE INDICES 2. 3-MONTH FORWARD EXCHANGE RATES 3. GOLD PRICE -LONDON 4. C A L L MONEY RATES 5. 3-MONTH INTEREST RATES 6. EURO-DOLLAR DEPOSIT RATES 7. SELECTED EURO-DOLLAR A N D U.S. MONEY M A R K E T RATES 8. INTEREST A R B I T R A G E : 3-MONTH FUNDS 9. LONG-TERM GOVERNMENT BOND YIELDS 10. INDUSTRIAL STOCK INDICES 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 FOREIGN CURRENCY PRICE OF U.S. DOLLAR ITALIAN LIRA - sAx - i i i 1 1 1 ,,|,l||,||, — — JAPANESE YEN Z^V> 2y -—/S r 1 I l I 1 1 1 - 40 - 35 - 30 - 25 III,, l u l l , - 140 - 120 - 100 i,|,i|,,|,, 120 - - Xv/^^ - I I 1 I 1 1 - FRENCH FRANC — v - \-A A I I SWISS FRANC - 60 50 — I I I I I I 1985 I >7^ v\/ ^\i - 1 1987 70 1 1 1 1 1 1985 1 60 90 - 80 - 70 - 60 — 50 240 — 200 90 70 - 40 A// — - 80 — BELGIAN FRANC 80 90 - i l l ii h i l l i — - 100 - — £z~~— 100 — Illllllill 1 — UK. POUND 80 140 — DUTCH GUILDER CANADIAN DOLLAR 20 200 — 180 160 y - 50 45 i l l ii h i l l i — GERMAN MARK - ,,|||||||i, - 180 - 160 - 140 - 120 100 1987 CHART 2 3-MONTH FORWARD EXCHANGE RATES PREMIUM (+) OR ( - ) AVERAGES FOR WEEK ENDING WEDNESDAY PER ANNUM 4 JAPANESE YEN CANADIAN DOLLAR 0 4 8 4 U. K. POUND SWISS FRANC + 0 4 8 8 GERMAN MARK DUTCH GUILDER FRENCH FRANC ITALIAN LIRA 4 0 4 4 + 0 4 8 12 1985 1987 1985 1987 CHART 3 PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY U.S. ( ILLARS PER FINE OUNCE U.S. DOLLARS PER FINE OUNCE 480 480 460 460 440 440 12.5 Kg BARS AFTERNOON FIXING PRICE 420 420 400 400 380 380 360 360 340 340 320 320 300 300 280 280 260 260 1984 1985 1986 1987 CHART 4 CALL MONEY RATES WEEKLY SERIES ENT PER ANNUM PERCENT PER Al 16 FRANCE 12 U. S. FEDERAL FUNDS - 8 4 Av JAPAN 0 I I — I 16 CANADA 12 8 GERMANY 4 0 16 UNITED KINGDOM SWITZERLAND 12 8 4 NETHERLANDS 0 1985 1987 1985 1987 CHART 5 3-MONTH INTEREST RATES WEEKLY SERIES :NT PER ANNUM PERCENT PER Ah 14 12 16 ' CANADIAN FINANCE CO. PAPER U.S. CD'S 14 10 — 8 6 4 12 10 WEIGHTED AVERAGE FOREIGN RATE I I 8 I I I I I I I 6 16 14 U K INTERBANK STERLING FRENCH INTERBANK RATE 14 - 12 12 10 10 8 - 8 I I I I I I 6 10 10 NETHERLANDS INTERBANK RATE 8 8 GERMAN INTERBANK RATE 6 / V / v w W " 4 4 2 I I I 2 10 8 8 SWISS INTERBANK RATE JAPANESE GENSAKI RATE 6 A. . 6 S/WA 4 2 4 I 2 6 1985 1987 I I 0 1985 1987 CHART 6 EURO-DOLLAR DEPOSIT RATES LONDON AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER AN :NT PER ANNUM 14 OVERNIGHT 3-MONTH 7-DAY 6-MONTH 1-MONTH 1-YEAR 12 10 8 6 4 14 12 10 8 6 4 14 12 10 8 6 4 1985 1987 1985 1987 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 16 16 14 - 14 12 - 10 - 8 - FEDERAL FUNDS 90-DAY CD* S DA S HE D LINE DASHED LINE 12 10 6 — OVERNIGHT 3-MONTH E U R O - D O L L A R DEPOSITS E U R O - D O L L A R DEPOSITS I I I 11111111111 11111111111 111 n 111111111111111111 — 4 2 DIFFERENTIAL DIFFERENTIAL - A aM A l l I A aM a I I I J\ aA I I M IA A^fV/V'^XAr'A* . I 1 1 1 1 1 1 1 1 1 1 1 1 11 1 1 1 1 1 1 1 1 1 1 1 1985 1 PERCENT ON D I F F E R E N T I A L S C A L E = 2 PERCENT ON RATE S C A L E 0 1987 111 n 1985 11111 11111111111 1987 CHART INTEREST ARBITRAGE: 3-MONTH FUNDS DIFFERENTIAL: PLUS(+), INDICATES FAVOR DOLLAR ASSETS AVERAGES FOR WEEK ENDING WEDNESDAY NT PER ANNUM PERCENT PER AN 18 14 CANADIAN FINANCE CO. PAPER, COVERED INTERBANK STERLING COVERED LONDON 10 EURO-DOLLAR DEPOSITS 6 DASHED LINE U. S. COMMERCIAL PAPER DASHED LINE 2 2 DIFFERENTIAL DIFFERENTIAL + 0 2 18 14 INTERBANK DM SWISS INTERBANK (SF) COVERED COVERED FRANKFURT 10 6 EURO-DOLLAR DEPOSITS EURO-DOLLAR DEPOSITS DASHED LINE DASHED LINE DIFFERENTIAL DIFFERENTIAL 2 2 + 0 2 1985 1987 1 PERCENT ON D I F F E R E N T I A L S C A L E = 2 PERCENT ON RATE S C A L E 1985 1987 CHART 9 LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES NT PER ANNUM PERCENT PER AL 16 UNITED STATES CANADA 14 - 12 10 A — 8 6 I I I I I 1 14 UNITED KINGDOM 12 JAPAN - X/ V " 10 8 6 - 1 1 1 , 1 1 1 1 1 1 8 GERMANY 6 SWITZERLAND 4 2 17 U. S. CORPORATE 15 MONTHLY FRANCE Aaa BONDS 13 11 NETHERLANDS MONTHLY 9 7 5 1985 1987 1985 1987 - CHART 10 INDUSTRIAL STOCK INDICES WEEKLY SERIES RATIO SCALE 1969=100 RATIO SCALE 1969=100 500 400 — 500 - 400 - UNITED KINGDOM 300 f UNITED STATES 200 - I I I I 650 550 - 450 - I I I I I I f 350 JAPAN 650 - - - v-V - 150 - - I I I I 500 I I I I 150 — | SWITZERLAND A . - 200 - 150 CANADA 300 — i V T I I I I I I I I I I I 500 400 - NETHERLANDS 300 GERMANY 200 100 250 — - 400 200 250 NVl , 350 / - I I I 550 450 - FRANCE 250 100 — /Vv\ 300 200 - 100 — - — I I I I I I 1985 1987 1985 1987 LAST V A L U E PLOTTED DATE VALUE SEHIxiS N A M E CHART 1. SPOT E X C H A N G E B A T E S AND I N D I C E S WEEKLY A V E B A G E S , NOON BUYING B A T E S (U.S. CENTS) GERMAN MARK J A P A N E S E IEN DUTCH GUILDEB U.K. P O U N D C A N A D I A N DOLLAB FBENCH F B A N C SWISS F B A N C BELGIAN FBANC ITALIAN LIBA SWEDISH KBONA INDICES, M A B C H 1973 BASE B A T E S = 8 8 8 8 8 8 8 8 8 8 JULY JULY JULY JULY JULY JULY JULY JULY JULY 8 8 8 8 8 8 8 8 8 153.01 175.61 138. 64 65. 38 75. 12 73.57 210.12 103.32 42.67 8 8 8 8 8 8 8 8 8 8 8 98. 89 164.58 186.03 140.50 61.95 72. 78 70. 33 212. 73 102.54 39.60 67.54 8 8 8 8 8 8 8 8 -1.47 -2.20 3.29 -1.21 3.27 1.72 3.09 - 3 . 18 54. 39 0.67071 48.29 161.64 75.37 16.33 65.31 2.62193 0. 07511 15. 59 100 GEBMAN MASK J A P A N E S E YEN DUTCH G U I L D E B U.K. P O U N D C A N A D I A N DOLLAB FBENCH F B A N C SWISS F R A N C BELGIAN F R A N C ITALIAN LIRA WEIGHTED A V E B A G E E X C H A N G E VALUE I N D I C E S , MAR tG-10 C O U N T B I E S P L U S SWITZERLAND) U.S. DOLLAR GERMAN MARK J A P A N E S E YEN DUTCH GUILDEB U.K. P O U N D C A N A D I A N DOLLAB FRENCH F B A N C SWISS F B A N C BELGIAN F R A N C ITALIAN LIBA SWEDISH KBONA JULY JULY JULY JULY JULY JULY JULY JULY JULY JULY - 1973 = 100 JULY JULY JULY JULY JULY JULY JULY JULY JULY JULY JULY CHART 2. 3 - M O N T H F O B W A B D EXCHANGE B A T E S , PBEMIUM OS D I S C O U N T CANADIAN DOLLAB U.K. P O U N D GEBflAN MARK FRENCH FRANC SWISS F R A N C DUTCH GUILDEB J A P A N E S E YEN ITALIAN LIBA JUL I JULY JULY JULY JULY JULY JULY JULY LAST VALUE PLOTTED DATE VALUE SERIES NAME CHART 3. G O L D PRICE IN LONDON, A F T E R N O O N FIXING U.S. DOLLARS PER FINE OUNCE JULY 8 444. 92 JULY JULY JULY JULY JULY JULY JULY JULY JULY 8 8 8 8 8 8 8 8 8 6.64 6. 56 9. 17 7.25 3. 48 3.24 7. 50 5.24 1.00 JULY JULY JULY JULY JULY JULY JULY JULY JULY 8 8 8 8 8 8 8 8 ti 6. 76 3.69 3.74 8. 45i 9. 1b| 3. 50 7.89 5.20 5. 98 JULY JULY JULY JULY JULY JULY 8 8 8 8 8 8 6. 56 6. 60 6. 79 6. 93 7. 06 7. 39 6. 56 6. 64 08 CHART 4. CALL HONEY BATES U.S. FEDERAL FUNDS O V E R N I G H T EURO-DOLLAR DEPOSITS U.K. CANADA GERMAN! JAi-AN FRANCE NETHERLANDS SWITZERLAND CHART 5 . 3 - M O N T H I N T E R E S T R A T E S U.S. 90-DAY CD'S, SECONDARY MARKET G E R M A N INTERBANK L O A N J A P A N E S E GENSAKI R A T E CANADIAN F I N A N C E PAPER INTERBANK STERLING SWISS I N T E R B A N K LOAN FRENCH INTERBANK RATE NETHERLANDS INTERBANK RATE WEIGHTED A V E R A G E FOREIGN I N T E R E S T RATE (G-10 COUNTRIES PLUS SWITZERLAND) CHART 6. EURO-DOLLAR DEPOSIT RATES: LONDON OVERNIGHT 7-DAY 1-MO NTH 3-HONTH 6-MONTH 1-YEAR CHART 7. S E L E C T E D EURO-DOLLAR AND U.S. MONEY M A R K E T B A T E S O V E R N I G H T EURO-DOLLAR DEPOSITS D.S. F E D E R A L F U N D S DIFFERENTIAL JULY JULY JULY 8 8 8 3-MONTH EURO-DOLLAR DEPOSIT R A T E U.S. 90-DAY CD'S, SECONDARY MARKET DIFFERENTIAL JULY JULY JULY 8 8 8 -0. 6. 93 6. 76( 17 0. SERIES NAME LAST VALUE PLOTTED DATE VALUE CHART 8 . INTEREST A R B I T R A G E , 3-MONTH FUNDS EURO-DOLLAR D E P O S I T INTERBANK STERLING (LONDON) , C O V E R E D DIFFERENTIAL JULY JULY JULY 8 8 8 6.93 6.91 0.02 U.S. C O M M E R C I A L PAPER CANADIAN FINANCE PAPER, COVERED DIFFERENTIAL JULY JULY JULY 8 8 8 6. 55 6.95 -0.40 EURO-DOLLAR DEPOSIT INTERBANK DM (FRANKFURT), C O V E R E D DIFFERENTIAL JULY JULY JULY 8 6 8 6. 93 7.01 -0.08 EURO-DOLLAR DEPOSIT SWISS I N T E R B A N K , C O V E R E D DIFFERENTIAL JULY JULY JULY 8 8 8 6. 93 6. 80 0. 12 3 JULY 3 JULY 26 JUNE J U N E 26 J U N E 26 3 JULY MAY 3 JULY 8.35 5.69 3.91 4.08 9. 78 9.28 6.07 9.09 . LONG TERM G O V E R M E N T BOND YIELDS UNITED STATES GERMANY JAPAN (MONTHLY) SWITZERLAND CANADA FRANCE NETHERLANDS (MONTHLY) UNITED KINGDOM * 1. C O R P O R A T E AAA B O N D S 10. CHART 10 STOCK INDICES UNITED STATES • UNITED KINGDOM CANADA GERMANY SWITZERLAND NETHERLANDS FRANCE JAPAN 9.33 MAY JULY JULY JULY JULY JULY JULY JULY JULY 1 1 1 1 1 1 1 1 324. 80 389.60 370.44 26 1. 75 204.55 311.07 405.31 541.60 # VoOlGOV*./. • FEDERAL RESERVE statistical release ••355?Wfy JULY 10, 1987 H. 10(512) FOREIGN EXCHANGE RATES FOR THE WEEK ENDING JULY 10, 1967 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 CRUZADO BRAZIL DOLLAR CANADA YUAN CHINA,P.R. KRONE DENMARK MARKKA FINLAND FRANC FRANCE D. MARK GERMANY DRACHMA GREECE DOLLAR HONG KONG RUPEE INDIA POUND •IRELAND 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 TAIWAN BAHT THAILAND •UNITED KINGDOM POUND MEMO: •UNITED STATES DOLLAR JULY 6 (CURRENCY UNITS PER DOLLAR) JULY 8 JULY 7 JULY 9 JULY 10 71.21 12.940 38. 180 NA 1.3282 3. 7314 6. 9915 4.4720 6. 1290 1.8396 138.300 7.8102 12. 9000 145.50 1333.50 149. 13 2.5370 2.0715 59,,600 6.,7400 143 .900 2 .1218 48 .60 812 .00 127 .100 29,.305 6 .4205 1 .5345 31 .140 25 .910 161 .85 70.00 12.940 38. 150 NA 1.3232 3. 7314 6. 9800 4.4700 6. 1290 1.8395 138. 100 7.8090 12. 9000 145.60 1332.00 149. 70 2.5360 2.0710 59. 960 6. 7310 143.,600 2. 1230 48. 80 8121.10 127..000 29 300 6 .4135 1 .5345 31 .120 25 .910 162 .00 70.59 12.953 38. 210 NA 1.3245 3. 7314 6. 9910 4.4740 6. 1320 1.8415 138.400 7.8090 12. 9400 145.45 1332. 00 150. 57 2.5395 2..0735 59..500 6 .7310 143 .800 2 .1250 48 .83 812 .20 127 .150 29 .337 6 .4240 1 .5337 31 .130 25 .960 161 .78 70. 97 12. 930 38.070 NA 1.3235 3. 7314 6. 9870 4.4690 6. 1300 1.8385 138.500 7.8070 12. 9400 145. 75 1331. 75 149. 98 2.5365 2.0705 60. 250 6. 7280 144.,000 2. 1213 48.,75 812..30 126 .900 29 .333 6 .4170 1 .5350 31 .130 25 .930 161 .75 70.77 12.972 38. 260 NA 1.3211 3. 7314 7.0100 4.4825 6. 1490 1.8447 138.500 7.8082 13.0000 145. 20 1337. 75 150. 65 2.5400 2.0770 60.,050 6.,7510 144.,550 2. 1237 48..50 811 .40 127 .350 29 333 6 .4330 1 .5405 31 .130 25 .950 161 .35 98 .94 98 .92 99 .08 98 .95 99 .25 FlNUtX o r I t t l b l t l C U HYEIWK U U I N W TMkVK «. » — — — COUNTRIES. MARCH 1973 = 100. HEIGHTS ARE 1972-76 GLOBAL TRADE OF EACH OF THE 10 C0WTRIES. 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 IS U.S. CENTS
@FedFRASER