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(516/517) Selected Interest & Exchange Rates Weekly Series of Charts July 3, 1989 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 R A T E S 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 $24.00 per year or $.60 each in the United States, its possessions, Canada, and Mexico; 10 or more of the same issue to one address, $22.50 per year or $.55 each. Elsewhere, $30.00 per year or $.70 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. CHART 1 SPOT EXCHANGE INDICES DOLLAR PRICES OF FOREIGN CURRENCIES AND WEIGHTED AVERAGE VALUES (THIN LINE) AVERAGES FOR WEEK ENDING WEDNESDAY SCALE 41973=100 140 120 RATIOS MARCH 197: 1=100 140 FOREIGN CURRENCY PRICE OF U.S. DOLLAR - BELGIAN FRANC 120 H - J— 100 100 90 80 80 70 I I I I I I i i 11 H i l l n 70 280 240 90 280 SWISS FRANC __ JAPANESE YEN — 240 200 200 180 180 160 - 140 140 l 120 l I 120 100 100 CANADIAN DOLLAR 90 80 160 90 U.K. POUND 80 70 70 60 60 50 50 200 180 — __ DUTCH GUILDER GERMAN MARK 160 140 — w 140 120 120 I 100 I I I I I 100 120 60 - 100 90 180 160 ^ - 200 ITALIAN LIRA 50 FRENCH FRANC ^ 80 : > 45 40 70 35 60 30 50 I 1987 1989 I I I I 1987 I 25 1989 CHART 2 3-MONTH FORWARD EXCHANGE RATES PREMIUM (+) OR (-) AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER ANNUM PERCENT PER ANNUM 4 4 CANADIAN DOLLAR A \ Z " U. K. POUND ^—•v"W A t I I I i i / \ I I I I A "A .A I i GERMAN MARK I / I I JAPANESE YEN ^ I I I I SWISS FRANC I I DUTCH GUILDER / v ~ I I " V I I I I " I uli ihill i FRENCH FRANC I I I I I iiliihihi ITALIAN LIRA - I IIIIIIIIM 12 1987 4 12 1989 1987 1989 CHART 3 PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY U.S. U.S. DOLLARS PER FINE 01 LLARS PER FINE OUNCE 520 520 500 500 12.5 Kg BARS AFTERNOON FIXING PRICE 480 480 460 460 440 440 420 420 400 400 380 380 360 360 340 340 320 320 i 300 1986 1987 1988 I i i I i i I 1989 i i I i i 300 CHART4 CALL MONEY RATES WEEKLY SERIES PERCENT PER ANh ENT PER ANNUM 16 16 12 U.S. FEDERAL FUNDS 12 FRANCE v /vAv/ rX^J^VNMWv ~ 8 JAPAN 4 4 0 1_1 0 8 16 16 CANADA 12 12 8 GERMANY 8 4 4 i 0 i i 0 20 16 UNITED KINGDOM SWITZERLAND 16 12 12 8 8 4 4 NETHERLANDS 0 I I I III III I I 0 1987 1989 1987 1989 CHART 5 3-MONTH INTEREST RATES WEEKLY SERIES PERCENT PER ANh ENTPER ANNUM 12 12 FRENCH INTERBANK RATE io 10 U.S. CD'S 8 8 6 6 WEIGHTED AVERAGE FOREIGN RATE 4 4 I IIIIIIIIIII 2 I I I I I I I 2 16 16 14 - U.K. INTERBANK STERLING f 12 - 8 - I 6 I I I I I 8 6 8 8 __ GERMAN INTERBANK RATE SWISS INTERBANK RATE J - 6 4 4 2 0 12 10 10 6 14 CANADIAN FINANCE CO. PAPER - I I I I I I 11 l u l l 1111 I I I I 0 I 10 10 __ 8 NETHERLANDS INTERBANK RATE - 8 6 6 4 - I 2 2 1987 1989 I I I I 1987 I 4 2 1989 CHART 6 EURO-DOLLAR DEPOSIT RATES LONDON AVERAGES FOR WEEK ENDING WEDNESDAY 14 12 14 OVERNIGHT 3-MONTH 12 10 10 8 8 6 6 4 4 14 14 12 7-DAY 6-MONTH 12 10 10 8 8 6 6 4 4 14 14 12 1-MONTH 1-YEAR 12 10 10 8 8 6 6 4 4 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 AMIS 14 14 12 12 10 10 3-MONTH FEDERAL FUNDS EURO-DOLLAR DEPOSITS DASHED LINE 8 8 6 6 OVERNIGHT 90-DAY CD'S EURO-DOLLAR DEPOSITS DASHED LINE 4 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 I 2 2 2 2 DIFFERENTIAL DIFFERENTIAL 1 1 + + 0 0 1 i i i r 1987 1 PERCENT ON DIFFERENTIAL SCALE = 2 PERCENT ON RATE SCALE 111 n 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 i i i i i i i i i i i i i i i i i i i. i i i i i 1989 1987 1989 1 CHART8 INTEREST ARBITRAGE: 3-MONTH FUNDS DIFFERENTIAL: PLUS(+), INDICATES FAVOR DOLLAR ASSETS AVERAGES FOR WEEK ENDING WEDNESDAY JENT PER ANNUM PERCENT PER ANh 16 16 12 INTERBANK STERLING 12 CANADIAN FINANCE CO. PAPER, COVERED COVERED LONDON 8 8 U.S. COMMERCIAL PAPER EURO-DOLLAR DEPOSITS 4 0 4 DASHED LINE DASHED LINE 0 u l i i l u l i i l n l i M i l l 11 2 2 DIFFERENTIAL DIFFERENTIAL + 0 0 I I I I I I II I I I 2 I I I I ill I I 2 16 16 12 12 INTERBANK DM COVERED FRANKFURT SWISS INTERBANK (SF) COVERED 8 8 EURO-DOLLAR DEPOSITS 4 EURO-DOLLAR DEPOSITS DASHED LINE I 0 I I 4 DASHED LINE 1111111111111111111111111 I I I I I I I 111 n i l 1111 l i i l 1111 i l l 2 2 DIFFERENTIAL DIFFERENTIAL + + 0 0 2 0 I I I I I I 1987 I 11illUiilnliiluliiln 1989 1 PERCENT ON DIFFERENTIAL SCALE = 2 PERCENT ON RATE SCAl F I I I I I I 1987 I 111111 I I I 11111 i l l 11111 1989 2 CHART 9 LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES PERCENT PER ANI DENT PER ANNUM 14 14 12 UNITED STATES - CANADA 12 \ 10 . Z v s \ 10 8 8 6 I I I I I I 6 14 12 - 14 UNITED KINGDOM _ FRANCE 12 10 10 \ , . A I m a N / V . A " 8 6 8 I I I I I I I I I I iilnliilii 6 10 8 10 SWITZERLAND __ JAPAN - 6 6 4 2 - I I I I I I I I I I I lllllllllll 4 2 10 10 NETHERLANDS 8 8 GERMANY MONTHLY 8 6 6 4 4 2 I I 2 1987 1989 1987 1989 CHART 10 INDUSTRIAL STOCK INDICES WEEKLY SERIES RATIO SCALE RATIO SCALE 1969=100 1969=100 UNITED STATES NETHERLANDS JAPAN GERMANY 300 SWITZERLAND 250 r 200 150 - FRANCE - - 100 - I I I,, I 600 500 - CANADA 400 UNITED KINGDOM — — 300 200 — I I I I I 1987 I I IIIIIIIIII 1989 1987 1989 LAST VALUE PLOTTED DATE VA LOE SERIES NAME CHART 1 . SPOT EXCHANGE RATES AMD I N D I C E S WEEKLY AVERAGES, NOON BUYING RATES (U.S. CENTS) GERMAN MARK JAPANESE YEN DUTCH GUILDER U . K . POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC BELGIAN FRANC ITALIAN LIRA SWEDISH KRONA INDICES, MARCH 1973 BASE RATES = WEIGHTED AVERAGE EXCHANGE VALUE I N D I C E S , ( G - 1 0 COUNTRIES PLUS SWITZERLAND) U . S . DOLLAR GERMAN MARK JAPANESE YEN DUTCH GUILDER U . K . POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC BELGIAN FRANC I T A L I A N LIRA SWEDISH KRONA 3-MONTH FORWARD EXCHANGE RATES, CANADIAN DOLLAR U . K . POUND GSRflAN MARK FRENCH FRANC SWISS FRANC DUTCH GUILDER JAPANESE YEN ITALIAN LIRA 28 2d 28 28 28 28 28 28 28 28 5 1. 13 0.71000 45.37 155.73 8 3.77 15.08 5 9 . 46 2.44456 0.07064 15.09 JUNE JUNE JUNE JUNE JUNE JUNE JUNE JUNE JUNE 28 28 28 28 28 28 2d 28 28 1 4 3 . 84 1 3 5 . 90 1 3 0 . 26 6 2 . 99 8 3 . 50 6 7 . 93 1 9 1 . 29 9 6 . 33 4 0 . 13 28 28 28 28 28 28 28 28 28 28 28 10 1. 9 2 1 5 7 . 2o 2 0 3 . 62 134. 81 6 1. 04 8 3 . 67 6 6 . 07 19 7 . 92 9 7 . 66 3 8 . 03 6 6 . 96 100 GERMAN MARK JAPANESE YEN DUTCH GUILDER U . K . POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC BELGIAN FRANC ITALIAN LIRA CHART i . JUNE JUNE JUNE JUNE JUNE JUNE JUNE JUNE JUNE JUNE MAS 1 9 7 3 = 100 JUNE JUNE JUNE JUNE JUNE JUNE JUNE JUNE JUNE JUNE JUNE PREMIUM OR DISCOUNT JUNE JUNE JUNE JUNE JUNE JUNE JUNE JUNE 28 28 28 28 28 28 28 2d -2. -4. 2. 0. 2. 2. 4. -2. 73 34 55 40 34 27 15 8 2 LAST VALUE PLOTTED DATE VALUE SERIES NAME CHART 3 . GOLD PEICE I S U.S. 4. LONDON, AFTERNOON F I X I N G DOLLARS PER F I N E OUNCE JUNE 28 CALL MONEY RATES U . S . FEDERAL FUNDS OVERNIGHT EURO-DOLLAR DEPOSITS U.K. CANADA GERMANY JAPAN FRANCE NETHERLANDS SWITZERLAND CHART 5 . EURO-DOLLAR DEPOSIT RATES: 28 28 28 28 28 28 28 28 28 9.58 9 . 41 1 3 . 15 12.05 6.38 4.91 8 . 99 6.81 6.88 JUNE JUNE JUNE JUNE JUNE JUNE JUNE JUNE JUNE 28 28 28 28 28 28 23 28 21 9 . 23 6 . 86 4 . 49 12. 33 1 4 . 19 6 . 82 8 . 96 7 . 02 8 . 45 JUNE JUNE JUNE JUNE JUNE JUNE 28 28 28 28 28 28 LONDON OVERNIGHT 7 - DAI 1-MONTH 3-MONTH 6-MONTH 1-YEAR CHART 7 . JUNE JUNE JUNE JUNE JUNE JUNE JUNE JUNE JUNE 3-MONTH INTEREST RATES U . S . 9 0 - D A Y C D ' S , SECONDARY MARKET GERMAN INTERBANK LOAN JAPANESE GENSAKI RATE CANADIAN FINANCE PAPER INTERBANK STERLING SWISS INTERBANK LOAN FRENCH INTERBANK RATE NETHERLANDS INTERBANK RATE WEIGHTED AVERAGE F 0 2 E I G N INTEREST RATE ( G - 1 0 COUNTRIES PLUS SWITZERLAND) CHART 6 . 372.89 SELECTED EURO-DOLLAR AND U . S . 9. 9. 9. 9. 9. 9. 41 45 44 31 16 08 MONEY MARKET RATES OVERNIGHT EURO-DOLLAR DEPOSITS U . S . FEDERAL FUNDS DIFFERENTIAL JUNE 28 JUNE 28 JUNE 28 9 . 41 9 . 58 - 0 . 17 3-MONTH EURO-DOLLAR DEPOSIT RATE U . S . 9 0 - D A Y C D ' S , SECONDARY MARKET DIFFERENTIAL JUNE 28 JUNE 28 JUNE 28 9 . 31 9 . 23 0. 08 LAST VALUE PLOTTED DATE VALUE SERIES NAME CHAtiT 8 . INTEREST A H B I T E A G E , 3-MONTH FUNDS JUNE 2 8 JUNE 28 JUNE 28 9 . 31 9. 69 - 0 . 38 U . S . COMMERCIAL PAPER CANADIAN FINANCE PAPER, COVERED DIFFERENTIAL JUNE 2 8 JUNE 28 JUNE 28 9 . , 13 9 . 51 - 0 . 38 EURO-DOLLAB DEPOSIT INTERBANK DM (FRANKFURT) , DIFFERENTIAL JUNE 28 JUNE 2 8 JUNE 28 9 . 31 9 . 45 - 0 . 14 JUNE 28 JUNE 28 JUNE 28 9. 31 9 . 21 0 . 11 EURO-DOLLAR DEPOSIT INTERBANK STERLING (.LONDON) , DIFFERENTIAL COVERED COVERED EURO-DOLLAR DEPOSIT SWISS INTERBANK, COVERED DIFFERENTIAL CHART 9 . LONG TEEM GO VERM EM! BOND Y I E L D S UNITED STATES GERMANY JAPAN SWITZERLAND CANADA FRANCE NETHERLANDS (MONTHLY) UNITED KINGDOM U.S. 10. 23 23 23 23 23 23 23 8. 6. 5. 5. 9. 9. 7. 9. 34 87 17 12 74 01 08 35 CORPORATE AAA BONDS CHART JUNE JUNE JUNE JUNE JUNE JUNE APRIL JUNE MAY 9.33 STOCK I N D I C E S UNITED STATES UNITED KINGDOM CANADA GERMANY. SWITZERLAND NETHERLANDS FRANCE JAPAN JUNE JUNE JUNE JUNE JUNE JUNE JUNE JUNE 28 28 28 28 28 28 28 28 344. 40 2 . 37 3. 265. 250. 348. 49 1. 65 0 . 56 86 05 62 90 52 45 70 •V,otcov/'. FEDERAL RESERVE statistical release H.10(512) JUNE 5 0 , 1989 FOREIGN EXCHANGE RATES FOR THE WEEK ENDING JUNE 3 0 , 1989 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 FINLAND FRANCE GERMANY GREECE HONG KONG INDIA *1RELAND ITALY JAPAN MALAYSIA NETHERLANDS *NEN ZEALAND NORWAY PORTUGAL SINGAPORE SOUTH AFRICA SOUTH KOREA SPAIN SRI LANKA SWEDEN SWITZERLAND TAIWAN THAILAND •UNITED KINGDOM DOLLAR SCHILLING FRANC 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: tUNITED STATES DOLLAR JUNE 2b (CURRENCY UNITS PER DOLLAR) JUNE 27 JUNE 28 77.20 13.760 40.950 1.1940 3.7314 7.6280 76.51 13.740 40.910 1.1942 3.7314 7.6065 75.73 13.810 41.080 1.1967 3.7314 7.6470 4.4050 4.3875 4.4040 6.6400 1.9575 168.150 7.7940 16.4900 136.40 1417.00 140.82 2.7010 2.2060 58.350 7.1540 163.520 1.9540 2.7730 669.10 124.850 34.417 6.6405 1.6845 26.050 25.840 154.48 6.6370 1.9567 168.280 7.7950 16.4400 136.55 1411.50 141.10 2.7030 2.2062 57.950 7.1200 163.050 1.9555 2.7725 669.40 124.200 34.467 6.6220 1.6855 25.950 25.870 156.60 6.6650 1.9647 169.520 7.7955 16.4700 136.00 1419.50 142.80 2.7040 2.2147 57.480 7.1500 163.700 1.9590 2.7900 669.50 124.800 34.508 6.6520 1.6890 25.950 25.910 155.55 102.09 101.88 102.43 JUNE 29 75.58 13.751 40.890 1.1953 3.7314 7.6115 4.4065 6.6425 1.9555 168.500 7.7950 16.4300 136.40 1413.50 143.40 2.7000 2.2040 57.600 7.1360 163.550 1.9595 2.7680 669.80 124.080 34.518 6.6450 1.6770 25.930 25.930 155.20 102.22 JUNE 30 75.57 13.759 40.930 1.1985 3.7314 7.6090 4.4150 6.6360 1.9545 168.700 7.7980 16.4900 136.00 1413.50 , 144.00 2.7020 2.2035 57.330 7.1375 163.500 1.9550 2.7800 669.90 124.300 34.518 6.6570 1.6790 25.900 25.960 154.90 102.32 •INDEX OF WEIGHTED AVERAGE EXCHANGE VALUE OF U . S . DOLLAR AGAINST CURRENCIES OF OTHER G-10 COUNTRIES. MARCH 1973 = 1 0 0 . WEIGHTS ARE 1 9 7 2 - 7 6 GLOBAL TRADE OF EACH OF THE 10 COUNTRIES. SERIES REVISED AS OF AUGUST 1 9 7 8 . 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 I S U . S . CENTS
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