Full text of H.13 Selected Interest and Exchange Rates, Weekly Series of Charts : July 13, 1992

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Selected Interest &
Exchange Rates
Weekly Series of Charts

July 13,1992

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.
2.
3.
4.
5.
6.
7.

SPOT EXCHANGE RATE INDICES
3-MONTH FORWARD EXCHANGE RATES
GOLD PRICE—LONDON
CALL MONEY RATES
3-MONTH INTEREST RATES
EURO-DOLLAR DEPOSIT RATES
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
RATIO SCALE
MARCH 1973=100

DOLLAR PRICES OF FOREIGN CURRENCIES AND WEIGHTED AVERAGE VALUES (THIN LINE)
AVERAGES FOR WEEK ENDING WEDNESDAY
RATIO SCALE
MARCH 1973=100

140
130
120
110

140
130
120
110

FOREIGN CURRENCY
PRICE OF U.S. DOLLAR

100

100

90

90

BELGIAN FRANC

80

80

i

i

I

i

i

i

I

'

i

i

i

•

•

'

I

I

I

I

I

I

I

I

I

I

I

I J

I

I

SWISS FRANC

70
280
— 260
240

JAPANESE YEN

220
200
180

160
i
90

i

'

I

i

i

i

I

i

' I

I

i

i

i

90

UNITED KINGDOM

80

80

70

70

CANADIAN DOLLAR
60
50
200

60

i

i

i

I

i

i

i

i

'

i

i

I

i

i

i

I

I

I

I

I

I

I

I

I

I

I

I

I

I

I

50
200

180 I—

DUTCH GUILDER

180

160

160
GERMAN MARK

140

140

120
100
120

140
100

120

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I

I

I

I

I

'

I

I

I

I

I

I

I

1

I

I

I

I

I

I

I

I

I

I

'

I

I

I

I

100
60

55

ITALIAN LIRA

FRENCH FRANC

100

50
45

80

40
35

60

I

I

I

I




I

I
1990

'

I

'

I

1 I

I

I
1992

I

1

1

1

I

1

1

1

1990

I

1

1

1

I

1

1

1

1992

30

CHART 2

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

PERCENT PER ANNUM

4

4 ,

U.K. POUND

CANADIAN DOLLAR

I

I

I

I

I

•

'

I

•

•

•

I

1

'

'

I

I

1

I

1

1

1

I

1

1 1

1

1

1

1

i

i

1

i

i

1

1

1

1 1

1

1

1

1 1

1

1

1 1

1 1 1
1990

1

1 1

1

1

12
8

JAPANESE YEN

GERMAN MARK

I

1

I

I

•

I

i

•

i

i

l

i

DUTCH GUILDER

SWISS FRANC

%
V

1




1

1

1

1

ITALIAN LIRA

FRENCH FRANC

1
1990

1

1992

1

1

1

1

I I
1992

12

CHART 3

PRICE OF GOLD IN LONDON
AVERAGES FOR WEEK ENDING WEDNESDAY
U.S. DOLLARS PER FINE OUNCE

U.S. DOLLARS PER FINE OUNCE

420

— 420

12.5 Kg BARS
AFTERNOON FIXING PRICE

400

— 400

380 —

— 380

360 —

360

340

340

320

1989




1990

1991

1992

320

CHART 4

CALL MONEY RATES
WEEKLY SERIES
PERCENT PER ANh

DENT PER ANNUM

12

12
FRANCE

10

10
U.S. FEDERAL FUNDS

8

8
JAPAN

6

6

4

4

2
12

1 t

1 I

» I

1 I

I

I

I

I

1 I

I

i

i

i

1 i

i

i

l

i

i

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I

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i

i

2
12

10

10
GERMANY

8

8
NETHERLANDS

6

6

4
16

I

I

I

I

I

I

I

I

I

I

I

1 I

I

I

I

I

I

I

I

I

I

1 I

I

'

I

'

I

4
16

14

14

12

12

UNITED KINGDOM
CANADA

10

10

8

8

6

6
SWITZERLAND

4




i
1990

1992

i
1990

i

I

i

i

i

l

i

i
1992

i

4

CHART 5

3-MONTH INTEREST RATES
WEEKLY SERIES
PERCENT PER ANNUM
15

PERCENT PER ANNUM
12

WEIGHTED AVERAGE
FOREIGN RATE
13

10

11

6 —

U.S. CD'S
CANADIAN FINANCE PAPER

4 —

i

i

i

I

i

i

i

I

i

• '

I

i

i

i

I

I

I

I

I

I

I

I

I

I

I

5

16

12

14

10

12
NETHERLANDS INTERBANK RATE
U.K. INTERBANK STERLING

10

i

i

i




I

i

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i

I

i

i

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I

i

i

i

I

I

I

I

'

'

'

I

I

I

I

I

I

I

I

4

12

10

FRENCH INTERBANK RATE

JAPANESE CD RATE

i

I

•

'

i

I

i

i

i

I

i

i

i
11

SWISS INTERBANK

GERMAN INTERBANK RATE

'
1990

1992

i

» I

i

i
1990

i

I

i

i

i

I

i

i
1992

i

CHART 6

EURO-DOLLAR DEPOSIT RATES LONDON
AVERAGES FOR WEEK ENDING WEDNESDAY
PERCENT PER ANNUM

PERCENT PER ANNUM

12

12

OVERNIGHT

l

i

i

I

'

'

i

I

i

i

'

•

i

i

I

i

7-DAY

10

2
12

i

3-MONTH

I

I

I

I

I

I

i

i

i

I




i

i
1990

i

I

< i

'

I

i

2
12

6-MONTH

I

I

I

I

I

I

I

I

I

i

i

i

I

1-MONTH

10

i

10

i

i

i

i

10

I

i

i

i

l

i

i

i

1-YEAR

l

i

i

i

I

i

i i
1992

•

i

i

I

i

i i
1990

2
12

10

I

'

i

i

l

'

i '
1992

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

12

12

^ a

OVERNIGHT

10

3-MONTH

EURO-DOLLAR DEPOSITS

EURO-DOLLAR DEPOSITS

FEDERAL FUNDS

90-DAY CD'S

DASHED LINE

J—I

I

I

DASHED LINE

L

J

I

I

I

i

J—I—I

I

i

I

'

'

i

l

J

'

1

2

2
DIFFERENTIAL
DIFFERENTIAL

MAK aa U A,.N A k A .J
Wwv
Vv - v *

i

i

i




l

i

i
i
1990

I ... 1

1

1

1

1

1
1
1992

W^,i, ii r> i ft

- 4 ^

J — i — I — i — i — i — I
1990

i

i

i

I

i

i
i
1992

CHART 8

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

SENT PER ANNUM

12

COVERED LONDON

CANADIAN FINANCE
CO. PAPER, COVERED

EURO-DOLLAR DEPOSITS

U.S. COMMERCIAL PAPER

INTERBANK STERLING
8

4
DASHED LINE

DASHED LINE

0

I

I

I

I

I

I

I

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I

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I

I

I

I

I

I

I

I

I

I

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'

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I

2
DIFFERENTIAL

DIFFERENTIAL
+

0

2
12

,'UULj'W

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I

'

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I

'

'

'

I

'

'

'

I

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I

1 I

I

I

I

INTERBANK DM
COVERED FRANKFURT

SWISS INTERBANK (SF) COVERED

8

4
EURO-DOLLAR DEPOSITS

EURO-DOLLAR DEPOSITS

DASHED LINE

DASHED LINE

I

0

I

1 I

I

I

I

I

i

•

1 1 I

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ll '

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2
DIFFERENTIAL

DIFFERENTIAL
+

W-y-VA"

0

2

I

I

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I

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1990

I

I

I

I

I

I

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1992

J_L

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I l
1990

'

' '
1992

CHART 9

LONG-TERM GOVERNMENT BOND YIELDS
WEEKLY SERIES
PERCENT PER ANNU

CENT PER ANNUM

10
UNITED STATES

UNITED
KINGDOM

CANADA

FRANCE

9

8

7

6
12

11

10

9
8

7

I

I

I

I

I

I

I

I

1 1 I

1 I

I

I

8

JAPAN

SWITZERLAND

7
6

5
i

4

'

i

I

i

'

< I

'

i

i

I

i

i

i

i

i

I

i

i
1992

10
GERMANY

NETHERLANDS

9

8

7

6

i

i




i

1 i

i i
1990

I

i

i

i

I

i

i i
1992

•

i

'

l

'

i i
1990

I

CHART 10

STOCK INDICES
WEEKLY SERIES
RATIO SCALE
1986=100

RATIO SCALE
1986=100

200

200

UNITED STATES

UNITED KINGDOM

GERMANY
JAPAN

SWITZERLAND




FRANCE

CANADA

1990

NETHERLANDS

1992

1990

1992

SERIES
Chart

1.

10-Jun-92 17-Jun-92 24-Jun-92 l - J u l - 9 2

S p o t Exchange R a t e s a n d I n d i c e s

Noon b u y i n g r a t e s

(U.S.

cents, weekly averages)
3.0514
83.716
18.649
62.796
0.08301
0.78522
55.743
68.759
183.21

Belgian franc
Canadian d o l l a r
French f r a n c
German mark
Italian lira
Japanese y e n
Netherlands g u i l d e r
Swiss f r a n c
U . K . pound
Indices,

120.24
83.44
84.04
176.65
47.65
205.60
160.03
221.21
74.10

Weighted a v e r a g e exchange v a l u e i n d i c e s , Mar.
108.03
72.97
72.76
172.89
39.49
197.87
146.78
68.03
201.83
63.53
86.81

Belgian franc
Canadian d o l l a r
French f r a n c
German mark
Italian lira
Japanese y e n
Netherlands g u i l d e r
Swedish k r o n a
Swiss f r a n c
U . K . pound
U.S. d o l l a r
3 - M o n t h F o r w a r d Exchange R a t e s ,

U.S.

Gold P r i c e i n

3.1804
83.625
19.457
65.455
0.08652
0.79719
58.067
72.618
190.07

Call

61
48
96
67
16
51
83
55
96

122
83
85
179
48
206
162
227
75

.44
.28
.55
.89
.50
.30
.94
.67
.45

1 2 5 . 32
8 3 . 35
87 . 68
1 8 4 . 13
4 9 . 67
208 . 73
1 6 6 . 70
2 3 3 . 62
76 . 88

126.
83.
88.
186.
50.
210.
168.
237.
77.

91
16
76
54
28
06
85
75
50

108
71
73
174
39
196
147
68
205
63
85

.78
.93
.28
.28
.76
.10
.82
.46
.46
.99
.56

109. 71
7 0 . 82
7 4 . 05
1 7 5 . 96
4 0 . 12
195. 32
149. .02
6 9 . ,04
207 ..70
6 4 . ,24
8 3 . ,91

110.
70.
74.
177.
40.
194.
149.
69.
209.
64.
83.

25
05
41
04
31
99
80
36
77
25
07

-1
-6
-5
-9
-0
-5
-5
-5

.78
.22
.82
.59
.52
.70
.37
.95

- 1 . .66
- 6 .24
- 5 .90
- 9 .49
- 0 .61
- 5 .77
- 5 .41
- 6 .09

- 1 . 90
- 6 .,60
- 6 ..41
- 1 0 . ,74
- 0 . .90
- 6 . .04
- 5 . .51
- 6 . .54

19731 = 100
108.
72.
73.
173.
39.
197.
147.
68.
205.
63.
85.

45
41
03
66
62
16
34
26
23
80
97

-1.
-6.
-5.
-9.
-0.
-5.
-5.
-5.

83
19
79
37
63
67
37
90

338.27

340. 98

342 . 6 8

343 .17

346 .50

3.69
3.74
5.88
9.91
9.60
4.69
9.38
8.88
9.20

3. 73
3..70
5,,88
9 .88
9 .56
4 .70
9 .20
8 .88
9 .90

3 .72
3 .76
5 .88
9 .89
9 .59
4 .68
9 .23
8 .08
10 . 0 5

3 .87
3 .91
5 .41
9 .89
9 .68
4 .69
9 .41
7 .88
10 .30

3 .17
3 .39
5 .68
9 . 86
9 .58
4 .59
9 .38
7 .88
10 .48

Money R a t e s

U.S. f e d e r a l f u n d s
Overnight E u r o - d o l l a r
Canada
France
Germany
Japan
Netherlands
Switzerland
U n i t e d Kingdom




121.
83.
84.
178.
48.
206.
161.
226.
74.

London, A f t e r n o o n F i x i n g

d o l l a r s per f i n e ounce

C h a r t 4.

3.2207
83.434
19.697
66.311
0.08759
0.80229
58.816
73.902
191.62

3.1072
83.555
18.985
63.949
0.08449
0.78791
56.757
70.767
186.54

Premium o r D i s c o u n t
-2.00
-6.16
-5.81
-8.87
- 0 .66
-5.62
-5.39
-5.88

Canadian d o l l a r
French f r a n c
German mark
Italian lira
Japanese y e n
Netherlands g u i l d e r
Swiss f r a n c
U . K . pound
C h a r t 3.

3.0863
83.757
18.854
63.514
0.08389
0.78871
56.370
70.420
185.33

M a r c h 1973 b a s e r a t e s = 100

Belgian franc
Canadian d o l l a r
French f r a n c
German mark
Italian lira
Japanese y e n
Netherlands g u i l d e r
Swiss f r a n c
U . K . pound

C h a r t 2.

8-Jul-92

deposits

SERIES
10-Jun-92 17-Jun-92 24-Jun-92 l - J u l - 9 2
Chart

1.

S p o t Exchange R a t e s a n d I n d i c e s

Noon b u y i n g r a t e s

(U.S.

cents, weekly averages)

Belgian franc
Canadian d o l l a r
French f r a n c
German mark
Italian lira
Japanese y e n
Netherlands g u i l d e r
Swiss f r a n c
U.K. pound
Indices,

3.0514
83.716
18.649
62.796
0.08301
0.78522
55.743
68.759
183.21

3.0863
83.757
18.854
63.514
0.08389
0.78871
56.370
70.420
185.33

3.1072
83.555
18.985
63.949
0.08449
0.78791
56.757
70.767
186.54

3.1804
83.625
19.457
65.455
0.08652
0.79719
58.067
72.618
190.07

3.2207
83.434
19.697
66.311
0.08759
0.80229
58.816
73.902
191.62

120 . 2 4
83 . 4 4
84 . 0 4
176 . 6 5
47 . 6 5
205 .60
160 . 0 3
221 . 2 1
74 .10

121 . 6 1
83 .48
84 .96
178..67
48. 16
206, 51
161. 83
2 2 6 . 55
7 4 . 96

122. 44
8 3 . 28
8 5 . 55
1 7 9 . 89
4 8 . 50
206 . 30
1 6 2 . 94
2 2 7 . 67
7 5 . 45

125 .32
83 .35
87 .68
184 .13
49 .67
208 .73
166 ..70
233 .62
76 . 88

126 . 9 1
83 . 16
88 .76
186 .54
50 .28
210,. 06
168 85
237 . 75
7 7 . 50

108 .78
71 .93
73 .28
174 .28
39 .76
196 .10
147 . 8 2
68 .46
205 .46
63 . 9 9
85 .56

109 . 7 1
70 .82
74 .05
175 .96
40 .12
195 .32
149 . 0 2
69 . 0 4
207 .70
64 .24
83 . 9 1

110 . 2 5
70 . 05
74 . 4 1
177 . 04
40 . 3 1
194 .99
149 .80
69 .36
209 .77
64 . 2 5
83 .07

- 1 .83
- 6 .19
- 5 .79
- 9 .37
- 0 .63
- 5 , .67
- 5 , .37
- 5 , 90

- 1 .78
-6 .22
- 5 .82
- 9 .59
- 0 .52
- 5 .70
- 5 . .37
- 5 . .95

.66
.24
.90
.49
- 0 . .61
- 5 , .77
- 5 , 41
- 6 . 09

338.27

3 4 0 . 98

3 4 2 . 68

3 4 3 . 17

346 . 50

3.69
3.74
5.88
9.91
9.60
4.69
9.38
8.88
9.20

3 . 73
3 . 70
5 . 88
9. 88
9 . 56
4 . 70
9 . 20
8 . 88
9. 90

3 . 72
3 . 76
5 . 88
9 . 89
9 . 59
4 . 68
9 . 23
8 . 08
1 0 . 05

3 . 87
3 . 91
5 . 41
9 . 89
9 . 68
4 . 69
9 . 41
7 . 88
1 0 . 30

3 . 17
3 . 39
5 . 68
9 . 86
9 . 58
4 . 59
9. 38
7 . 88
10. 48

M a r c h 1973 base r a t e s = 100

Belgian franc
Canadian d o l l a r
French f r a n c
German mark
Italian lira
Japanese y e n
Netherlands g u i l d e r
Swiss f r a n c
U . K . pound
Weighted a v e r a g e exchange v a l u e i n d i c e s ,

Mar.

1973=100

Belgian franc
Canadian d o l l a r
French f r a n c
German mark
Italian lira
Japanese y e n
Netherlands g u i l d e r
Swedish k r o n a
Swiss f r a n c
U . K . pound
U.S. d o l l a r

108.03
72.97
72.76
172.89
39.49
197.87
146.78
68.03
201.83
63.53
86.81

C h a r t 2.

remium o r D i s c o u n t

3 - M o n t h F o r w a r d Exchange R a t e s ,

Canadian d o l l a r
French f r a n c
German mark
Italian lira
Japanese y e n
Netherlands g u i l d e r
Swiss f r a n c
U . K . pound
C h a r t 3.
U.S.

-2.00
-6.16
-5.81
-8.87
-0.66
-5.62
-5.39
-5.88

Gold P r i c e i n

London, A f t e r n o o n

d o l l a r s p e r f i n e ounce

C h a r t 4.

8-Jul-92

108 . 4 5
72 . 4 1
73 . 0 3
173 .66
39 . 6 2
197 . 16
147 . 3 4
68 .26
205 . 2 3
63 . 8 0
85 .97

-1
-6
-5
-9

-1
-6
-6
-10

.90
.60
.41
.74
- 0 . .90
- 6 . 04
- 5 . 51
- 6 . 54

ixing

C a l l Money R a t e s

U.S. f e d e r a l f u n d s
Overnight Euro-dollar
Ca na da
France
Germany
Japan
Netherlands
Switzerland
U n i t e d Kingdom




deposits

. •* of COw* *.

FEDERAL RESERVE statistical release
H.10(512)

July 13, 1992

FOREIGN EXCHANGE RATES
FOR THE WEEK ENDING

JULY 10, 1992

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

•AUSTRALIA
AUSTRIA
BELGIUM
CANADA
CHINA,P.R.
DENMARK
•EURO COMMUNITY
FINLAND
FRANCE
GERMANY
GREECE
HONG KONG
INDIA
•IRELAND
ITALY
JAPAN
MALAYSIA
NETHERLANDS
•NEW ZEALAND
NORWAY
PORTUGAL
SINGAPORE
SOUTH AFRICA
SOUTH KOREA
SPAIN
SRI LANKA
SWEDEN
SWITZERLAND
TAIWAN
THAILAND
•UNITED KINGDOM

DOLLAR
SCHILLING
FRANC
DOLLAR
YUAN
KRONE
ECU
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:
HHJNITED STATES

DOLLAR

Jul. 6

I CURRENCY UNITS PER DOLLAR)
Jul. 7
Jul. 8
Jul. 9

Jul. 10

0.7447
10.639
31.130
1.1998
5.4758
5.8120
1.3541
4.1230
5.0950
1.5127
184.40
7.7335
28.580
1.7630
1144.50
124.55
2.5015
1.7052
0.5441
5.9250
126.70
1.6130
2.7580
788.80
95.65
N. A.
5.4650
1.3538
24.600
25.310
1.9102

0.7436
10.555
30.880
1.1965
5.4758
5.7720
1.3653
4.0920
5.0500
1.4998
183.75
7.7330
28.600
1.7768
1133.75
124.42
2.4992
1.6907
0.5438
5.8830
125.88
1.6140
2.7575
789.90
94.80
N. A.
5.4255
1.3485
24.550
25.270
1.9248

0.7466
10.537
30.840
1.1915
5.4758
5.7600
1.3672
4.0880
5.0400
1.4970
183.35
7.7325
28.650
1.7815
1131.00
124.85
2.4990
1.6882
0.5448
5.8695
126.13
1.6150
2.7480
789.30
94.65
N.A.
5.4150
1.3480
24.530
25.240
1.9195

0.7441
10.682
31.260
1.1940
5.4636
5.8360
1.3475
4.1405
5.1230
1.5175
185.90
7.7362
28.650
1.7538
1147.00
125.80
2.5000
1.7115
0.5455
5.9530
127.85
1.6152
2.7750
789.60
96.20
N.A.
5.4920
1.3720
24.507
25.270
1.8960

0.7463
10.586
30.820
1.1922
5.4720
5.7680
1.3654
4.0990
5.0500
1.4958
183.35
7.7360
28.650
1.7835
1131.50
125.40
2.5008
1.6870
0.5458
5.8850
126.25
1.6160
2.7590
783.70
95.25
N.A.
5.4320
1.3560
24.598
25.320
1.9210

83.26

82.70

82.64

83.64

82.71

*VALUE IS U.S. DOLLARS
**INDEX OF WEIGHTED AVERAGE EXCHANGE VALUE OF U.S. DOLLAR AGAINST CURRENCIES OF OTHER G-10
COUNTRIES. MARCH 1973 = 100. HEIGHTS 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 1202) 377-1986.
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.




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