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(5 1 6 /5 1 7 ) Selected Interest & Exchange Rates Weekly Series o f Charts July 16, 2001 DIVISION OF INTERNATIONAL FINANCE Prepared by the BOARD OF GOVERNORS FINANCIAL MARKETS FEDERAL RESERVE SYSTEM SECTION Washington, D.C. 20551 Table o f Contents TABLES 1. LATEST FIGURES PLOTTED 2. DAILY CERTIFIED SPOT EXCHANGE RATES CHARTS 1. NOMINAL CURRENCY EXCHANGE VALUES 2. 3-MONTH FORWARD EXCHANGE RATES 3. PRICE OF GOLD IN LONDON 4. OVERNIGHT FUNDING RATES AND OFFICIAL INTEREST RATES 5. 3-MONTH INTEREST RATES 6. LONG-TERM GOVERNMENT BOND YIELDS 7. STOCK INDEXES 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 Board of Governors of the Federal Reserve System in a form collectible at Par in U.S. currency. Chart 1 Nominal Currency Exchange Values Dollar prices of foreign currencies and weighted average values of U.S. dollar (Averages for week ending Wednesday, ratio scale, March 1973 = 100) 200 Foreign currency price of U.S. dollar — (Major currencies index) Restated German mark and euro 180 160 140 120 290 Canadian dollar Japanese yen 260 230 200 170 260 U.K. pound Swiss franc 220 180 140 90 Australian dollar Swedish krona 70 50 30 Chart 2 3-Month Forward Exchange Rates Premium (+) or (-) (Averages for week ending Wednesday, percent per annum) German mark and euro 1 U.K. pound 0 -1 -2 -3 8 Canada Japanese yen 6 4 2 Swiss franc 2 Australian dollar 1 0 -1 -2 Chart 3 Price of Gold in London (Averages for week ending Wednesday) u.s. dollars per fine ounce U.S. dollars per fine 420 420 400 12.5 Kg Bars Afternoon fixing price 400 380 380 360 360 340 340 320 320 300 300 280 280 260 260 240 1996 1997 1998 1999 2000 2001 240 Chart 4 Interbank Funding Rates and Official Interest Rates (Averages for week ending Wednesday, percent per annum) Chart 5 3-Month Interest Rates (Averages for week ending Wednesday, percent per annum) 6 8 German/euro-area interbank 4 U.S. CD — \ Weighted average foreign rate 2 0 6 Canadian finance paper Japanese CD 4 2 0 6 U.K. interbank sterling Swiss interbank 4 2 0 6 Australian bank bill Swedish treasury bill 4 2 0 Chart 6 Long-Term Government Bond Yields (Averages for week ending Wednesday, percent per annum) 8 United States Germany 6 4 Weighted average foreign rate 2 0 8 Canada 6 4 2 0 8 United Kingdom France 6 4 2 0 8 Switzerland 6 4 2 0 Chart 7 Stock Indexes (Averages for week ending Wednesday, ratio scale, December 30, 1994 = 100) 350 — United Kingdom 50 1998 350 300 1999 2000 2001 1998 1999 2000 2001 350 300 250 .Switzerland* Italy 250 200 - 200 150 - 150 100 50 100 - 1998 1999 2000 2001 1998 1999 ‘ December 29 ,199 4 = 100 2000 2001 50 13 -Jun-01 20 -Jun-01 27-Jun-01 4-Jul-01 Chart 1. ll-Jul-01 Nominal Currency Exchange Values Noon buying rates (U.S. cents, weekly averages) Australian dollar Canadian dollar Japanese yen Restated German mark and euro Swedish krona Swiss franc U .K . pound 52.3400 65.776 0.82490 84.90 9.1406 55.706 138.27 52.2960 65.437 0.81454 85.80 9.4105 56.159 140.11 51.7580 65.729 0.80549 85.94 9.3360 56.507 141.56 51.1950 65.910 0.80312 84.69 9.1837 55.614 140.93 51.0040 65.814 0.79793 84.96 9.1622 55.874 140.81 37.04 65.56 215.99 122.12 40.48 179.21 55.93 37.01 65.22 213.27 123.41 41.67 180.67 56.67 36.63 65.51 210.90 123.61 41.34 181.79 57.26 36.23 65.69 210.28 121.81 40.67 178.92 57.00 36.10 65.60 208.92 122.20 40.57 179.75 56.95 -1.19 -0.65 -0.74 3.79 0.53 -1.43 -1.23 -0.70 -0.78 3.68 0.45 -1.49 -1.16 -0.63 -0.63 3.85 0.62 -1.40 -1.25 -0.59 -0.75 3.80 0.58 -1.42 272.30 273.34 268.91 266.50 Indexes, March 1973 base rates = 100 Australian dollar Canadian dollar Japanese yen Restated German mark and euro Swedish krona Swiss franc U .K . pound Chart 2. 3-Month Forward Exchange Rates, Premium or Discount Australian dollar Canadian dollar Euro Japanese yen Swiss franc U .K . pound Chart 3. Gold Price in London, Afternoon Fixing U.S. dollars per fine ounce Chart 4. -1.11 -0.53 -0.63 3.90 0.79 -1.32 268.69 Interbank Funding Rates and Official Interest Rates United States Target federal funds rate Effective federal funds Discount rate Canada Bank rate Call money Lower bound Euro area Marginal lending rate Eonia Repo rate Overnight deposit rate Japan Call money Discount rate Switzerland* Upper bound Libor rate Lower bound United Kingdom Call money Repo rate 4.00 4.00 3.50 4.00 3.95 3.50 3.96 3.91 3.46 3.75 3.89 3.25 3.75 3.69 3.25 4.75 4.51 4.25 4.75 4.52 4.25 4.75 4.52 4.25 4.75 4.51 4.25 4.75 4.51 4.25 5.50 4.53 4.50 3.50 5.50 4.52 4.50 3.50 5.50 4.54 4.50 3.50 5.50 4.57 4.50 3.50 5.50 4.52 4.50 3.50 0.01 0.25 0.01 0.25 0.02 0.25 0.03 0.25 0.01 0.25 3.75 3.12 2.75 3.75 3.24 2.75 3.75 3.25 2.75 3.75 3.24 2.75 3.75 3.24 2.75 4.96 5.25 4.66 5.25 4.39 5.25 5.04 5.25 5.68 5.25 *In January 2000, the Swiss National Bank began to target the Swiss Franc 3-month LIBOR interest rate, with the aim of keeping this rate inside a range given by an upper and a lower bound. 13 -Jun-01 20 -Jun-01 27-Jun-01 4-Jul-01 Chart 5. 3-Month Interest Rates U.S. 90-day C D ’s, secondary market 3.81 3.69 3.63 3.76 5.07 4.97 Australian bank bill 5.05 4.99 4.41 4.52 Canadian finance paper 4.46 4.41 4.45 4.46 4.43 Euro-area interbank 4.43 0.02 0.01 0.01 0.02 Japanese CD 4.47 Swedish treasury bill 4.20 4.41 4.52 Swiss interbank 3.02 3.11 3.14 3.13 5.21 U.K. interbank sterling 5.18 5.16 5.16 3.27 3.27 3.30 Weighted average foreign interest rate 3.28 (Canada, euro area, Japan, United Kingdom, Switzerland, Australia, and Sweden) Chart 6. 3.71 5.09 4.41 4.48 0.03 4.47 3.13 5.16 3.29 Long Term Government Bellwether Bond Yields 10-year maturity, where available 5.67 5.68 5.64 5.89 Canada 5.13 5.21 5.19 5.08 France 5.00 Germany 5.06 5.08 4.95 5.44 5.39 5.35 5.48 Italy 1.22 1.19 1.16 1.23 Japan 3.47 3.42 3.37 3.40 Switzerland 5.14 5.17 5.14 5.28 United Kingdom 5.32 5.26 5.20 5.39 United States 4.67 4.71 Weighted average foreign interest rate 4.64 4.79 (Canada, euro area, Japan, United Kingdom, Switzerland, Australia, and Sweden) Chart 7. ll-Jul-01 Stock Indexes Canada France Germany Euro area* Italy Japan Switzerland** United Kingdom United States 5.89 5.23 5.09 5.49 1.29 3.43 5.20 5.39 4.82 (Wednesday figures) 190,.16 274 , .92 230,.96 363..62 268,.24 81,.63 300,.18 138,.46 252 , .14 182.16 265.25 228.51 348.94 254.47 80.63 289.53 134.75 249.27 178.72 259.75 226.50 345.38 254.36 82.64 281.25 133.45 245.48 183.47 265.22 232.80 350.52 261.20 81.97 287.71 133.36 249.47 179.21 253.42 223.27 337.93 252.79 78.74 273.94 126.32 241.46 Indices (in order, rebased to December 30, 1994, **December 29, 1994) are Toronto Composite, SBF250, FAZ Aktien, *Dow Jones EURO stock index, Banca Italiana General, Tokyo SE (Topix), Swiss Performance Index, Financial Times Ordinary, NYSE Composite
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