The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
(516/517) Selected Interest & Exchange Rates Weekly Series of Charts July 20,1992 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. 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=100 140 130 RATIO SCALE MARCH 1973=100 140 130 FOREIGN CURRENCY PRICE OF U.S. DOLLAR 120 120 110 110 100 100 90 90 BELGIAN FRANC 80 80 I ' • i I • • i l I J_L I ' ' 1 ' I I I I I I 70 280 260 SWISS FRANC 240 JAPANESE YEN 220 200 180 160 1 J_L 90 1 I 1 1 1 I 1 1 1 1 1 1 140 100 90 UNITED KINGDOM 80 80 70 70 CANADIAN DOLLAR 60 60 • 50 i i I i i i I ' ' I l i i i I I I I ' I ' I ' ' I I ' I I 50 200 200 180 — 180 DUTCH GUILDER 160 160 _ 140 S ' \ / \ A GERMAN MARK __ 140 120 120 I 100 120 I « ' ' I I I I I I I I J I • I i • ' I l I I I I I I 100 60 55 ITALIAN LIRA FRENCH FRANC 50 100 45 40 80 35 60 I I I I ' • 1990 I I ' I I I ' I 1992 I • • I I I • 1990 ' ' ' • • ' ' ' 1992 ' 30 CHART 2 3-MONTH FORWARD EXCHANGE RATES PREMIUM (+) OR (-) AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER ANNUM PERCENT PER ANNUM 4 CANADIAN DOLLAR 12 8 1 1 1 I 1 1 4 U.K. POUND 1 I 1 1 1 1 1 1 I • GERMAN MARK • ' I ' i ' I ' ' i I i i i » I ' I ' ' I I I I I JAPANESE YEN 12 8 X 1 1 1 1 1 1 1 1 1 1 1 1 1 I I SWISS FRANC . 1 1 1 I 1 1 X 1 1 l 1 1 I I FRENCH FRANC • I DUTCH GUILDER X _L_L I l 1 W 1 1 v A 1 1 1 1 1 1 1 I 1 1 1 1990 1 1 1 I 1 i 1 1 ITALIAN LIRA 1 1990 1 — 1992 1 1 1 1 r 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 — 360 — 380 340 360 — 340 320 320 — 1989 1990 1991 1992 CHART 4 CALL MONEY RATES WEEKLY SERIES PERCENT PER ANN ENT PER ANNUM 12 12 FRANCE 10 10 U.S. FEDERAL FUNDS 8 8 JAPAN 6 6 4 4 2 • i i I ' i ' I i i i l i i ' ' i i i i i I i i i l i i i 2 12 12 10 10 GERMANY 8 8 NETHERLANDS 6 6 4 • i i I ' ' ' I ' ' ' l i i ' i I ' I I • • • I ' I I I ' ' • 4 16 16 14 14 12 UNITED r 12 ^OM CANADA 10 10 8 6 SWITZERLAND I I 1990 I I I I I I I I 1992 I I I I I I 1990 1 1 1 I 1 1 1 1 1992 4 CHART 5 3-MONTH INTEREST RATES WEEKLY SERIES PERCENT PER ANf ENT PER ANNUM 12 15 WEIGHTED AVERAGE FOREIGN RATE 10 13 8 11 9 U.S. CD'S 6 CANADIAN FINANCE PAPER 7 4 I 2 16 I I I I I I I I I I I I I l l l I I l I I l I I I I I I 5 12 14 10 12 8 NETHERLANDS INTERBANK RATE U.K. INTERBANK STERLING 6 10 1 1 1 8 9 1 I 1 1 1 I 1 1 1 I 1 1 i i i I i i i I i i i I i i i 7 10 JAPANESE CD RATE 5 3 i i i I i i i I i ' FRENCH INTERBANK RATE i I i ' ' i i i I i i i I i i i 8 I i i 10 i 6 11 9 8 SWISS INTERBANK 6 4 4 12 i i i I i i 1990 i I i 7 GERMAN INTERBANK RATE i i I i i 1992 i I I I I I » I 1990 I I I I I I I 1992 5 CHART 6 EURO-DOLLAR DEPOSIT RATES LONDON AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER ANN ;ENT PER ANNUM 12 12 3-MONTH OVERNIGHT 10 10 8 8 6 6 4 4 2 • • I i i i I i i i I • i ' ' I ' • ' I ' ' ' l ' • 2 12 12 10 ' 6-MONTH 7-DAY 10 8 8 6 6 4 4 2 2 12 12 10 1-YEAR 1-MONTH 10 8 8 6 6 4 4 2 1990 1992 1990 1992 2 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 12 PERCENT PER ANNUM 12 10 10 OVERNIGHT 3-MONTH EURO-DOLLAR DEPOSITS EURO-DOLLAR DEPOSITS 90-DAY CD'S FEDERAL FUNDS DASHED LINE DASHED LINE J I L i I I I I I I I I—I—L 1 i I i i I I I I J I—I—L DIFFERENTIAL I 1 i 2 2 DIFFERENTIAL 1 i I 1 1 1 1990 I 1 • • ,lf il VVv 'W V V i i 1 V i i i 1992 i I I I I 1990 I I I I \ • ft I I—I—L 1992 CHARTS INTEREST ARBITRAGE: 3-MONTH FUNDS DIFFERENTIAL: PLUSH, INDICATES FAVOR DOLLAR ASSETS AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER ANNUM PERCENT PER ANNUM 12 12 8 COVERED LONDON INTERBANK STERLING CANADIAN FINANCE CO. PAPER, COVERED EURO-DOLLAR DEPOSITS U.S. COMMERCIAL PAPER — DASHED LINE DASHED LINE 0 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 i i i i i i i I I DIFFERENTIAL DIFFERENTIAL 2 12 I I » i » I i • i i i i I i i i i i i INTERBANK DM COVERED FRANKFURT SWISS INTERBANK (SF) COVERED 1/, EURO-DOLLAR DEPOSITS EURO-DOLLAR DEPOSITS DASHED LINE DASHED LINE i i i I i i i I i i i I i i i i ' I I I I I I 1990 I » i i 1 i i i I i I I ' I I DIFFERENTIAL DIFFERENTIAL I I I I I I I I I 1992 I • I ' I • I 1990 ' I 1992 CHART 9 LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES PERCENT PER ANNUF ;ENT PER ANNUM 13 UNITED KINGDOM UNITED STATES 12 11 10 9 ' i i I ' ' ' 1 i i I i I I I I 1 1 1 I 1 1 1 I ' • 8 12 FRANCE CANADA 11 10 9 8 I I I I I I I I I I I I I I I I I I 1 I ' ' I ' ' I 1 ' I I 7 8 JAPAN SWITZERLAND 7 6 5 • ' i I l i i i I i i i • i ' I i » • ' 1 1 ' 1 ' 1 1 4 10 GERMANY NETHERLANDS 9 8 7 ' ' ' I ' ' 1990 • 1 • • ' 1 i 1992 1990 i i I i i i 1992 6 CHART 10 STOCK INDICES WEEKLY SERIES 1986= RATIO SC, 1986= iCALE 0 200 180 UNITED KINGDOM UNITED STATES 160 140 120 100 ' • I i i i I i i i l i i i i i i I i • ' I ' • i I i i i i i i i 240 GERMANY 200 JAPAN 160 120 80 • i i i i i I i i i I i i i i i i I i i i i i i i 180 165 FRANCE SWITZERLAND 150 135 120 105 90 150 • ' l ' i i I i i i I i i i 135 I I I • 1990 ' I i i i I i i i ' I I I I ' NETHERLANDS CANADA I l • • • I • • 1992 ' I I ' I 1990 I I I 1992 SERIES 17-Jun-92 24-Jun-92.l-Jul-92 Chart 1. 8-Jul-92 15-Jul-92 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 3.0863 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 3.2530 83.817 19.855 67.032 0.08846 0.79727 59.431 74.100 191.69 121.61 83.48 84.96 178.67 48.16 206.51 161.83 226.55 74.96 122.44 83.28 85.55 179.89 48.50 206.30 162.94 227.67 75.45 125.32 83.35 87.68 184.13 49.67 208.73 166.70 233.62 76.88 126.91 83.16 88.76 186.54 50.28 210.06 168.85 237.75 77.50 128.18 83.54 89.47 188.57 50.78 208.75 170.61 238.39 77.53 109. 71 70. 82 74. 05 175. 96 40. 12 195. 32 149. 02 69. 04 207. 70 64. 24 83. 91 110 .25 70 .05 74 .41 177 .04 40 .31 194 .99 149 .80 69 .36 209 .77 64 .25 83 .07 110 .89 70 . 06 74 .70 178 .39 40..55 192,,66 150,,76 69. 51 209. 39 63. 96 82. 61 -1.78 -6.22 -5.82 -9.59 -0.52 -5.70 -5.37 -5.95 -1.66 -6.24 -5.90 -9.49 -0.61 -5.77 -5.41 -6.09 -1 .90 -6 .60 -6 .41 -10 .74 -0 .90 -6 .04 -5 .51 -6 .54 -2 .00 -6 .83 -6 .39 -11 .29 -0,.97 -6. 24 -5.,50 -6. 59 340.98 342.68 343.17 346.50 348.95 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 10.05 3.87 3.91 5.41 9.89 9.68 4.69 9.41 7.88 10.30 3.24 3.39 5.68 9.86 9.58 4.59 9.38 7.88 10.48 3.28 3.26 5.90 9.94 9.63 4.55 9.31 7.58 9.55 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. -1.83 -6.19 -5.79 -9.37 -0.63 -5.67 -5.37 -5.90 Gold Price in London, Afternoon Fixing U.S. dollars per fine ounce Chart 4. 108.78 71.93 73.28 174.28 39.76 196.10 147.82 68.46 205.46 63.99 85.56 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. 108.45 72.41 73.03 173.66 39.62 197.16 147.34 68.26 205.23 63.80 85.97 Call Money Rates U.S. federa1 funds Overnight Euro-dollar deposits Canada France Germany Japan Netherlands Switzerland United Kingdom SERIES Chart 5. Jun-92 24-Jun-92 1-Jul-92 3.84 5.99 10.00 9.67 4.63 9.43 9.10 9.93 8.72 3.84 5.92 10. 00 9.65 4. 53 9. 44 8. 98 9. 95 8.68 3.82 5.81 10. 00 9.69 4. 51 9. 46 8. 93 10. 03 8.69 3.43 5.69 9. 99 9.67 4. 42 9. 44 8.88 9. 93 8.66 3.35 5.65 10. 04 9.68 4.42 9.45 8.70 10. 05 8.70 3.70 3.79 3.80 3.86 4.00 4.45 3.76 3.78 3.79 3.85 3.98 4. 38 3. 91 3. 79 3.79 3.81 3. 94 4. 24 3. 39 3. 41 3. 45 3. 54 3.64 3.88 3.26 3.25 3.31 3.38 3.50 3.75 Euro-Dollar Deposit Rates Overnight 7-day 1-month 3-month 6-month 1-year Chart 7 15-Jul-92 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. 8-Jul-92 Selected Euro-dollar & U.S. / Market Rates 3.70 3.73 -0.03 3.76 3.72 0. 04 3. 91 3.87 0. 04 3. 39 3. 24 0. 15 3.26 3.28 -0. 02 3.86 3.84 0.02 3.85 3.84 0. 01 3.81 3.82 -0. 01 3.54 3.43 0. 11 3. 38 3. 35 0. 03 Euro-dollar deposit Interbank sterling (London), covered Differential 3.86 3.88 -0.02 3.85 3. 85 0. 00 3. 81 3. 78 0. 03 3.,54 3 23 0..31 3 .38 3 .30 0 .08 U.S. commercial paper Canadian finance paper, covered Differential 3.92 4.14 -0.22 3. 90 4. 12 -0,22 3. 88 4,.13 -0..25 3 .50 3 .77 -0 .27 3 .43 3 .62 -0 .19 Euro-dollar deposit Interbank DM (Frankfurt), covered Differential 3.86 3.74 0.12 3 .85 3 .68 0 .17 3 .81 3 .64 0 .17 3 .54 3 .11 0 .43 3 .38 3 .13 0 .24 Euro-dollar deposit Swiss interbank, covered Differential 3.86 3.60 0.26 3 .85 3 .48 0 .37 3 .81 3 .40 0 .42 3 .54 3 .24 0 .30 3 .38 3 .08 0 .29 8.21 8.77 7.96 5.59 6.90 8.29 9.14 7.27 8 .17 8 .81 8 .02 5 .50 6 .93 8 .30 9 .19 7 .22 8 .16 8 .79 8 .03 5 .41 6 .99 8 .32 9 .16 7 .13 7 .88 8 .71 7 .96 5 .35 6 .93 8 .28 9 .03 6 .90 7 .85 8 .75 7 .96 5 .32 6 .94 8 .29 9 .01 6 .94 112.24 144.62 105.73 96.53 114.77 151.73 156.88 162.79 111 .29 142 .85 105 .10 93 .26 112 .12 150 .70 153 .61 163 .06 112 .89 137 .37 104 .07 95 .20 111 .03 152 .82 148 .75 166 .69 113 .92 139 .55 103 .94 96 .34 110 .33 147 .50 146 .72 165 .76 115 .50 139 .45 102 .84 98 .21 110 .87 146 .90 147 .11 168 .49 Overnight Euro-dollar deposits U.S. federal funds Differential 3-month Euro-dollar deposit U.S. 90-day CD's, secondary market Differential Chart 8. Chart 9. Interest Arbitrage, 3-Month Funds 10-year maturity, where available ond Yields Canada France Germany Japan Switzerland Netherlands United Kingdom United States Chart 10. ) Stock Indices (Wednesday figures) Canada France Germany Japan Netherlands Switzerland United Kingdom United States Indices (in order, rebased to 1986=100) are Toronto Composite, CAC General, FAZ Aktien, Tokyo SE (Topix), CBS All-General, Swiss Bank Index, Financial Times Ordinary, NYSE Composit^ FEDERAL RESERVE statistical release July 20, 1992 H. 101512) FOREIGN EXCHANGE RATES FOR THE MEEK ENDING JULY 17, 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 •AUSTRALIA AUSTRIA BELGIUM CANADA CHINA,P.R. DENMARK *EURO COMMUNITY FINLAND FRANCE GERMANY GREECE HONG KONG INDIA *1RELAND ITALY JAPAN MALAYSIA NETHERLANDS *NEW ZEALAND NORWAY PORTUGAL SINGAPORE SOUTH AFRICA SOUTH KOREA SPAIN SRI LANKA SWEDEN SWITZERLAND TAIWAN THAILAND •UNITED KINGDOM MEMO: __ **UNITED STATES MONETARY UNIT 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 DOLLAR Jul. 13 (CURRENCY UNITS PER DOLLAR) Jul. 16 Jul. 15 Jul. 14 Jul. 17 0.7456 10.469 30.460 1.1928 5.4721 5.6900 1.3812 4.0490 4.9890 1.4785 181.55 7.7310 28.650 1.8035 1119.75 124.95 2.4980 1.6674 0.5467 5.8080 125.95 1.6115 2.7300 790.20 94.20 43.900 5.3650 1.3360 24.780 25.270 1.9290 0.7469 10.486 30.720 1.1936 5.4721 5.7580 1.3692 4.0950 5.0300 1.4905 183.10 7.7318 28.650 1.7895 1129.50 126.00 2.4980 1.6811 0.5474 5.8750 126.95 1.6130 2.7625 790.50 94.85 N. A. 5.4250 1.3481 24.850 25.260 1.9130 0.7441 10.399 30.460 1.1928 5.4721 5.6905 1.3791 4.0480 4.9930 1.4775 181.60 7.7328 28.650 1.8020 1125.00 125.00 2.4990 1.6669 0.5460 5.8110 126.14 1.6115 2.7480 790.80 94.35 43.900 5.3675 1.3362 24.910 25.250 1.9257 0.7432 10.380 30.420 1.1909 5.4721 5.6860 1.3765 4.0370 4.9850 1.4758 181.70 7.7330 28.650 1.8066 1120.25 125.45 2.4965 1.6650 0.5460 5.8010 125.35 1.6088 2.7380 791.00 94.08 N. A. 5.3585 1.3280 24.810 25.270 1.9355 0.7443 10.269 30.080 1.1900 5.4421 5.6285 1.3864 3.9970 4.9335 1.4595 179.70 7.7305 28.550 1.8240 1108.75 124.55 2.4950 1.6456 0.5482 5.7435 124.25 1.6107 2.7250 N. A. 93.45 N. A. 5.2945 1.3070 24.770 25.260 1.9495 82.00 82.64 82.05 81.92 81.17 •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. 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) 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 1202) 452-3244.
@FedFRASER