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S - H H O (516/517) J - ' B R A f t y p A j A ^ AUS 03 1987 Selected Interest & Exchange Rates Weekly Series of Charts July 27, 1987 Prepared by the FINANCIAL MARKETS SECTION 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. 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 a INTEREST ARBITRAGE: 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 50 45 — ITALIAN LIRA FOREIGN CURRENCY PRICE OF U.S. DOLLAR v / V"^K s 40 ^ V V - "Vxy—\/\9^ j 35 30 W - - I I I I I I 11111111111 I I I I I I I I 20 I I I — 200 180 JAPANESE YEN GERMAN MARK 160 140 /w/ / ^ U / — Z \ jT 120 100 - I I I p v f l I 11111111111 I ill 11 hili i I I I I I I 11111111111 — — 140 - 120 - 100 11111111111 80 140 — DUTCH GUILDER CANADIAN DOLLAR 200 180 160 y - 25 2? /V 120 y/ — 100 - 90 - - 80 — - 70 l l I l I I 60 90 U K POUND FRENCH FRANC - AT V L I I i r i - J V - i i \*/V I I I AfJ I I I I - 80 - 70 - 60 - 50 I ill I lull Iu l nil i I n 40 240 — SWISS FRANC BELGIAN FRANC 200 - 180 160 - a[ - I I I I I 1985 I 120 \ — I 140 I I I I I I I I I l I I l I I l I I 1987 1985 100 1987 CHART 2 3-MONTH FORWARD EXCHANGE RATES PREMIUM (+) OR (-) AVERAGES FOR WEEK ENDING WEDNESDAY PE :ENT PER ANNUM PERCENT PER At 4 JAPANESE YEN CANADIAN DOLLAR 0 \ —J - 4 8 4 I I I I I I U. K. POUND SWISS FRANC 0 4 (V\ 8 8 I I GERMAN MARK I I I - I DUTCH GUILDER 4 — 0 I 4 I I I I I 4 FRENCH FRANC 0 4 8 12 1985 1987 1985 1987 CHART 3 PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY U.S. DOLLARS 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 PERCENT PER Al ENT PER ANNUM 16 FRANCE 12 U. S. FEDERAL FUNDS - 8 4 0 V, JAPAN 1_L I I I I I I 16 CANADA 12 8 GERMANY 4 0 16 UNITED KINGDOM SWITZERLAND 12 8 4 NETHERLANDS 0 M 1985 1987 i l ulTTliilii l 1985 1987 CHART 5 3-MONTH INTEREST RATES WEEKLY SERIES PERCENT PER AN :NT PER ANNUM 16 14 U.S. CD'S 12 CANADIAN FINANCE CO. PAPER - 14 10 . — 10 8 WEIGHTED AVERAGE FOREIGN RATE 6 4 12 I I I I I I 8 I I I I I I I I I I I I I I6 I I I I 14 16 FRENCH INTERBANK RATE U.K. INTERBANK STERLING - 14 12 10 12 10 v / x 8 I I I I I - 8 6 I 10 10 NETHERLANDS INTERBANK RATE 8 8 GERMAN INTERBANK RATE 6 / \ 6 A - v V 4 4 I 2 I I I I I 2 10 8 8 SWISS INTERBANK RATE JAPANESE GENSAKI RATE 6 A 6 . . x / w v 2 4 2 4 I I 1985 1987 I 0 I I I 1985 1987 CHART 6 EURO-DOLLAR DEPOSIT RATES LONDON AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER ANI T 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 CHAI 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 FEDERAL FUNDS 90-DAY CD* S DASHED LINE DASHED LINE 12 10 10 OVERNIGHT E U R O - D O L L A R DEPOSITS I I I I I I 11111111111 J* 11111111111 3-MONTH E U R O - D O L L A R DEPOSITS 1 1 1 I I I I I I I I I I I I I I I I I I I I I 4 2 DIFFERENTIAL DIFFERENTIAL ! I I I I I I I M I I I I I i f I I I I I I II I II 1985 1987 1 PERCENT ON DIFFERENTIAL S C A L E = 2 PERCENT ON RATE SCALE t I I I I I 1985 I 0 f l l I l l I l l I l i li I i 11 i 11 11 1987 CHART 8 INTEREST ARBITRAGE: 3-MONTH FUNDS DIFFERENTIAL: PLUS(+), INDICATES FAVOR DOLLAR ASSETS AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER ANNUM PERCENT PER ANNUM 18 14 18 CANADIAN FINANCE CO. PAPER, COVERED INTERBANK STERLING COVERED LONDON 14 10 10 EURO-DOLLAR DEPOSITS DASHED LINE U.S. COMMERCIAL PAPER DASHED LINE J_± 1_L DIFFERENTIAL 2 2 2 DIFFERENTIAL J_L I I I I I I 2 I 18 14 18 INTERBANK DM - COVERED FRANKFURT SWISS INTERBANK (SF) COVERECX 14 10 10 EURO-DOLLAR DEPOSITS EURO-DOLLAR DEPOSITS DASHED LINE DASHED LINE _L_L I I I I I I I — DIFFERENTIAL DIFFERENTIAL I I I 1985 I 1 1 1 1987 1 PERCENT ON DIFFERENTIAL SCALE = 2 PERCENT ON RATE SCALE . I I 1985 [ 2 • 0 I 2 1987 CHART 9 LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES NT PER ANNUM PERCENT PER M 16 16 UNITED STATES CANADA 14 14 12 12 10 10 8 8 6 6 14 10 12 UNITED KINGDOM - JAPAN - 10 6 8 f I 6 I I I I I - 4 2 8 6 8 10 SWITZERLAND 8 4 6 2 4 17 17 U. S. C O R P O R A T E 15 MONTHLY FRANCE 15 Aaa BONDS 13 13 11 11 NETHERLANDS MONTHLY 9 9 7 7 5 5 1985 1987 1985 1987 CHART 10 INDUSTRIAL STOCK INDICES WEEKLY SERIES RATIO \ 1961 CALE 1969= )0 500 400 UNITED KINGDOM 300 / UNITED STATES - 200 I 100 I I I I III III I i l l I I 650 550 - - - — 450 350 FRANCE J 250 NY I 150 I I I I 500 __ 400 A . - CANADA 300 200 SWITZERLAND i V i I I I l i i i i i i i 500 400 NETHERLANDS 300 200 100 1985 1987 1985 1987 SERIES SAME LAST VALUE PLOTTED DATE VALUE HART 1. SPOT EXCHANGE BATES AND INDICES WEEKLY AVERAGES, NOON BUYING RATES (U. S. CENTS) GERMAN BARK JAPANESE YEN DUTCH GUILDER U.K. POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC BELGIAN FRANC ITALIAN LIRA SWEDISH KB OH A JULY JULY JULY JULY JULY JULY JULY JULY JULY JULY 22 22 22 22 22 22 22 22 22 22 53. 84 0.65691 47. 83 160.61 75.74 16. 18 64. 76 2.59735 0.07446 15.45 JULY JULY JULY JULY JULY JULY JULY JULY JULY 22 22 22 22 22 22 22 22 22 151.46 172.00 137.30 64.96 75. 48 72.92 208.34 102.35 42.30 22 22 22 22 22 22 22 22 22 22 22 99.81 164.01 183. 24 140.14 INDICES, MARCH 1973 BASE RATES = 100 GERMAN HARK JAPANESE YEN DUTCH GUILDER U.K. POUND CANADIAN DOLLAR FRENCH F8ANC SWISS FRANC BELGIAN FRANC ITALIAN LIRA WEIGHTED AVERAGE EXCHANGE VALUE INDICES, MAR 1973 = 100 (G-10 COUNTRIES PLUS SWITZERLAND) U. S. DOLLAR GERMAN MARK JAPANESE YEN DUTCH GUXLDEfi U.*. POUND CANADIAN DOLLAR FRENCH FfiANC SWISS FRANC BELGIAN FRANC ITALIAN LIRA SWEDISH KBONA JULY JULY JULY JULY JULY JULY JULY JULY JULY JULY JULY 62.01 73.74 70.21 212. 46 102.31 39. 54 67. 45 :HART 2. 3-MONTH FORWARD EXCHANGE RATES, PREMIUM OR DISCOUNT CANADIAN DOLLAR U.K. POUND GERMAN MARK FRENCH FRANC SWISS FRANC DUTCH GUILDEB JAPANESE YEN ITALIAN LIRA JULY JULY JULY JULY JULY JULY JULY JULY 22 22 22 22 22 22 22 22 -1.79 -2.27 2.94 -1.08 3. 06 1.56 2.85 -3.70 SERIES NAME LAST VALUE PLOTTED DATS VALUE HART 3- GOLD PRICE 18 LONDON, AFTERNOON FIXING 0.5. DOLLARS PEE FINE OUNCE JOLI 22 452.51 HAHT 4. CALL MONEI BATES U.S. FEDERAL FUNDS OVERNIGHT EURO-DOLLAR DEPOSITS 0. K. . CANADA GERMAN! JAPAN FRANCE NETHERLANDS SWITZERLAND JOLT JOLI JOLI JOLI JOLT JOLI JOLI JOLI JOLI 22 22 22 22 22 22 22 22 22 6.57 6.44 9.07 7.50 3.84 3. 10 7.38 5.19 JOLI JOLT JOLI JOLI JOLI JOLI JOLI JOLI JOLI 22 22 22 22 22 22 22 22 22 6. 63 JOLI JOLI JOLI JOLI JOLI JOLI 22 22 22 22 22 22 6.44 6.47 6.64 6.79 6.96 7.31 JULI 22 JULI 22 JULI 22 6. 44 6.57 -0. 13 JULI 22 JULI 22 JOLI 22 6. 79 6.63 0. 16 1.00 3HART 5. 3-MONTH INTEREST RATES 0.5. 90—DAI CD'S* SECONDARI MARKET GERMAN INTERBANK LOAN JAPANESE GENSAKI RATE CANADIAN FINANCE PAPER INTERBANK STERLING SSISS INTERBANK LOAN FRENCH INTERBANK RATE NETHERLANDS INTERBANK RATE 1SI6HIED AVERAGE FOREIGN INTEREST RATE (6-10 COUNTRIES PLUS SWITZERLAND) 3.88 3.74 8.52 9. 14 3. 67 7.75 5.21 6.04 CHART 6. EURO-DOLLAR DEPOSIT RATES: LONDON OVERNIGHT 7-DAI 1-MONTH 3-MONTH 6-MONTH 1-IEAR CHART 7. SELECTED EURO-DOLLAR AND U.S. MONEI MARKET BATES OVERNIGHT EURO—DOLLAR DEPOSITS O.S. FEDERAL FONDS DIFFERENTIAL 3-MONTH EURO-DOLLAR DEPOSIT BATE O.S. 90-DAI CD'S. SECONDARI MARKET DIFFERENTIAL SERIES NAME LAST VALUE PLOTTED DATE VALUE CHART 8. INTEREST ARBITRAGE, 3-MONTH FUNDS 6.79 EURO-DOLLAR DEPOSIT INTERBANK STERLING (LONDON), COVERED DIFFERENTIAL JULY 22 JUL* 22 JUL! 22 U.S. COMMERCIAL PAPER CANADIAN FINANCE PAPER, COVERED DIFFERENTIAL JULI 22 JULY 22 JULI 22 EURO-DOLLAR DEPOSIT INTERBANK DM (FRANKFORT), COVERED DIFFERENTIAL JULY 22 JULY 22 JULY 22 -0.06 EURO-DOLLAR DEPOSIT SMISS INTERBANK, COVERED DIFFERENTIAL JULY 22 JULY 22 JULY 22 6.79 6.76 0. 03 JULY JULY JULY JUNE JULY JULY MAY JULY 8.38 5-72 6.81 •Q.03 6.57 6.69 •0. 12 6.79 6.84 CHART 9. LONG TERM GOVERMENT BOND YIELDS UNITED STATES GERMANY JAPAN (MONTHLY) SWITZERLAND CANADA FRANCE NETHERLANDS (MONTHLY) UNITED KINGDOM 17 17 17 26 10 17 17 0.0 4.08 9. 98 10.27 6.07 8.85 U.S. CORPORATE AAA BONDS + 0 CHART 10. 9.33 MAY STOCK INDICES UNITED STATES UNITED KINGDOM CANADA GERMANY SWITZERLAND NETHERLANDS FRANCE JAPAN JULY JULY JULY JULY JULY JULY JULY JULY 15 15 15 15 15 15 8 15 332.60 *19.61 393.93 272.87 211.96 319.72 424.43 529.14 FEDERAL RESERVE statistical release — — H.10(512) ".i JULY 24, 1987 FOREIGN EXCHANGE RATES FOR THE WEEK ENDING JULY 24, 1987 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 BRAZIL CANADA CHINA,P.R. DENMARK FINLAND FRANCE GERMANY GREECE HONG KONG INDIA *1RELAND ITALY JAPAN MALAYSIA NETHERLANDS *NEH ZEALAND NORWAY PORTUGAL SINGAPORE *SOUTH AFRICA SOUTH KOREA SPAIN SRI LANKA SWEDEN SWITZERLAND TAIWAN THAILAND *UNITED KINGDOM DOLLAR SCHILLING FRANC CRUZADO DOLLAR YUAN KRONE 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: 1UNITED STATES DOLLAR JULY 20 (CURRENCY UNITS PER DOLLAR) JULY 22 JULY 21 JULY 23 JULY 24 70.67 13.097 38.610 NA 1.3189 3.7314 7.0690 4.5150 6.1950 1.8623 141.100 7.8087 13.1000 143.95 1346.50 152.85 2.5500 2.0965 60.580 6.7950 145.500 2.1227 48.35 811.70 127.570 29.467 6.4850 1.5505 31.130 26.040 160.18 70.85 13.118 38.670 NA 1.3213 3.7314 7.0800 4.5200 6.2030 1.8653 140.900 7.8087 13.1100 143.80 1348.00 152.66 2.5490 2.1000 60.700 6.8075 145.750 2.1218 48.13 811.90 127.650 29.467 6.4900 1.5480 31.130 26.030 159.55 71.03 13.105 38.620 NA 1.3212 3.7314 7.0775 4.5250 6.1975 1.8638 140.550 7.8084 13.1000 143.75 1347.00 152.34 2.5510 2.0975 60.940 6.8100 145.550 2.1172 48.30 811.80 127.530 29.482 6.4950 1.5458 31.120 28.010 159.50 70.99 13.045 38.480 NA 1.3292 3.7314 7.0425 4.5025 6.1735 1.8550 140.200 7.8085 13.0500 144.45 1343.00 150.78 2.5490 2.0895 60.850 6.7875 145.100 2.1160 48.40 811.90 126.970 29.482 6.4650 1.5370 31.130 26.010 160.37 70.76 13.042 38.450 NA 1.3388 3.7314 7.0425 4.4990 6.1700 1.8535 140.000 7.8085 13.0800 144.45 1343.00 149.95 2.5470 2.0880 59.920 6.7850 144.950 2.1150 48.35 811.70 127.050 29.477 6.4650 1.5360 31.130 25.990 160.30 100.06 100.19 100.11 99.69 99.65 •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. *VALUE IS U.S. CENTS
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