Full text of H.13 Selected Interest and Exchange Rates, Weekly Series of Charts : July 9, 1990

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 9, 1990

DIVISION O F
INTERNATIONAL FINANCE

Prepared by the

BOARD O F G O V E R N O R S
F E D E R A L RESERVE S Y S T E M

FINANCIAL MARKETS
SECTION




Washington, DlC. 20551

Table of Contents

TABLES
1 LATEST FIGURES PLOTTED
2 DAILY CERTIFIED SPOT
EXCHANGE RATESH.10 RELEASE
CHARTS

1 SPOT EXCHANGE RATE INDICES
2 3-MONTH FORWARD EXCHANGE RATES
3. 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




S U B S C R I P T I O N RATES:

Weekly $24.00 per year or $.60 each m 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 m 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
FOREIGN CURRENCY
130

BELGIAN FRANC

PRICE OF U.S. DOLLAR

120
110

RATIO SCALE
MARCH 1973=100
140
130

120
110
100

100

90

90

80

80
•

70

»

280
260 —

l

'

•

'

I

•

'

i

I

i

i

_L_JL

'

—

SWISS FRANC

i

i

i

i

i

i

i

i

i

i

i

i

i

70

280
260

JAPANESE YEN

240

240

220

220

200

200
180

180

160

160
140

140

120
100

'

'

i

90

I

1

i

1

1

I

1

•

1

I

'

'

•

'

I

I

I

I

I

I

I

I

I

I

I

I

120
100

CANADIAN DOLLAR

U.K. POUND

90

80

80

70

70

60

60
'

50

I

I

I

1

I

1

I

I

I

I

J_L

200

I

I

I

I

I

I

I

I

I

I

I

I

I

200

GERMAN MARK

180 —

180

DUTCH GUILDER

160

I

160
140

140

120

120
100
120
110

50

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

55

ITALIAN LIRA

50

100
FRENCH FRANC

90

100
60

45

80

40

70

35

60

30

50

'

'

I

I




I

I
1988

I

I

I

I

I

I

'

I
1990

I

I

I

I

I

I

I
1988

I

I

I

I

I

I

I

I
1990

I

25

CHART 2

3-MONTH FORWARD EXCHANGE RATES
PREMIUM (+) OR (-)
AVERAGES FOR WEEK ENDING WEDNESDAY
PERCENT PER ANNUM
4

PERCENT PER ANNUM
4

U.K. POUND

GERMAN MARK

JAPANESE YEN

SWISS FRANC

DUTCH GUILDER

—

I

I

I

I

I

1

1

I1

FRENCH FRANC
W v A A
y v /

12

1

1




1

1

1

1
1988

1

i

i

i

X

1 M

i

l

1 I

l

I

I

I

I

I

I

I

I

I

I

I

I

I

I

I

ITALIAN LIRA

A
-

I

I
1990

I

i

i

i

1

i

i
1988

i

1
1

1

1

1

1 1

1 1
1990

12

CHART 3

PRICE OF GOLD IN LONDON
AVERAGES FOR WEEK ENDING WEDNESDAY
U.S. OLLARS PER FINE OUNCE
520

U.S. DOLLARS PER FINE OI

500

12.5 Kg BARS
AFTERNOON FIXING PRICE

480

460

440

420

400

380

360

340

320

J

1
1987




1

1

1

1
1988

1

1

I

i
1989

i

I

i

i
1990

i

CHART 4

CALL MONEY RATES
WEEKLY SERIES
PERCENT PER ANNUM

PERCENT PER ANNUM

16

16

12

12

FRANCE

U.S. FEDERAL FUNDS

JAPAN

0

i

»

i

I

'

i

'

l

i

'

'

i

•

•

i

'

i

I

i

1

1

I

1

•

i

I

i

i

i

16

16

12

12
CANADA
GERMANY

i

i

i

l

i

'

i

I

'

'

'

i

i

UNITED KINGDOM




'

i

l

'

1

1

>

1

1

i

I

i

i

SWITZERLAND

NETHERLANDS

1988

1990

1988

1990

i

CHART 5

3-MONTH INTEREST RATES
WEEKLY SERIES
:ENT PER ANNUM

PERCENT PER AN

10

12

—

10

8

SWISS INTERBANK RATE

U.S. CD'S

8

6

6

4
WEIGHTED AVERAGE
FOREIGN RATE

4

2

i

'

i

I

'

'

i

I

2
i

<

'

I

i

i

i

I

I

I

I

I

I

I

I

I

I

I

I

I

I

0
16

16

14

U.K. INTERBANK STERLING

14

CANADIAN FINANCE CO.
PAPER

12

12

10

10

8
6
10

8
i

i

8 —

i

I

i

i

i

I

'

'

'

I

i

'

i

I

I

GERMAN INTERBANK RATE

I

I

I

I

I

I

I

I

I

I

I

I

I

FRENCH INTERBANK RATE

6
12
10

6

8

4

6
I

2
10

I

I

•

'

I

I

'

I

I

I

I

I

1

i

i

i

I

i

i

'

I

i

'

i

I

'

'

4

10
NETHERLANDS INTERBANK RATE

8

8
JAPANESE CD RATE

6

6

4

2

i

4

•

I

I




I

'

I
1988

'

I

'

I

I

I

I

I
1990

•

i

i

I

i

i
1988

i

I

i

i

'

I

'

'
1990

2

CHART 6

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

PERCENT PER ANNUM

14

14

12

OVERNIGHT

3-MONTH

12

10

10

I

4
14

'

'

I

'

I

I

I

'

I

'

I

'

'

•

1

1

'

I

'

7-DAY

12

'

'

1

I

1

•

L

i

I

I

6-MONTH

12

10

4
14

4
14

10

'

'

'

I

'

'

'

'

•

•

<

I

I

I

I

i

i

i

I

i

1-MONTH

12

i

i

I

i

'

i

I

i

•

'

1-YEAR

4
14

12

10

10

-L I

I




I

I

I I
1988

I

l

l

I

I

i

_L_L

1990

i

i

i

I

i

i i
1988

I

i

i

'

i

'

J_L

1990

#

E

#

•

•

#

E

§

•

#

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

14

14

12

12

10

OVERNIGHT
EURO DOLLAR DEPOSITS

10

3-MONTH
EURO-DOLLAR DEPOSITS ,

FEDERAL FUNDS

90-DAY CD'S

DASHED LINE

J

1

1

1

DASHED LINE

1

I

I

I

I

I

I

I

I

J

1

1

1

1

I

I

I

I

I

1

I

J

i

i

i

I

L

DIFFERENTIAL
DIFFERENTIAL

1

—I—I—I—I—I—I
I
1988




I

I

I

I

I

I

I
1
1990

J—i—i—I—i—i
i
1988

l

i

i

_J

1990

L

•

CHART 8

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

PERCENT PER ANN*

16

12

INTERBANK STERLING

h-

CANADIAN FINANCE
CO. PAPER, COVERED

—

DASHED LINE

COVERED LONDON

8

EURO-DOLLAR DEPOSITS

4

0
2

DASHED LINE

I

I

l

I

I

I

I

I

l

I

I

I

l

l

U.S. COMMERCIAL PAPER

I

l

I

DIFFERENTIAL
+

0

2

I

I

I

'

'

I

'

'

I

I

'

I

I

I

I

I

DIFFERENTIAL

'VV^VW \r \JV^

I

I

I

I

I

I

I

I

I

I

I

I

I

I

I

I

I

I

I

I

I

I

I

16

12

INTERBANK DM

SWISS INTERBANK (SF) COVERED

COVERED FRANKFURT

8

EURO-DOLLAR DEPOSITS

4

0
2

DASHED LINE

'

i

i

I

i

'

EURO-DOLLAR DEPOSITS

—

i

I

i

'

i

I

i

•

i

DASHED LINE

i

'

DIFFERENTIAL

2

"Vw^

I

I

I




I

I

I
1988

I

I

'

'

'

I

'

i

i

I

i

i

i

I

•

'

'

I

'

'

'

DIFFERENTIAL

+

0

'

I

I

I

1

I

I

I

I
1990

'

'

I

'

'
1988

'

1990

CHART 9

LONG-TERM GOVERNMENT BOND YIELDS
WEEKLY SERIES
PERCENT PER ANNUM
14 t

UNITED STATES

PERCENT PER ANNUM
14

CANADA

12

—

10

10

•

'

'

I

'

I

'

I

•

•

•

I

i

i

i

'

•

'

I

'

'

'

L

»

'

I

I

I

'

'

14

UNITED KINGDOM

14

FRANCE

12

12

10

10

'

1

'

I

1

1

1

1

I

1

I

I

I

•

I

I

I

I

I

I

I

I

'

'

'

I

•

10
SWITZERLAND

2
10

12

1

1

1

l

1

JAPAN

1

1

1

1

i

'

i

'

'

i

'

NETHERLANDS

'

'




1

•

•

'

1

'

•

'

'

'

1

1988

•

1

•

i

i

1

i

i
1990

'

'

'

I

'

'
1988

'

I

'

6
10

2
10

GERMANY

MONTHLY

1

J—L

'

'

L

1
1990

CHART 10

STOCK INDICES
WEEKLY SERIES
SCALE

RATIOS

100

198

200
175 — UNITED STATES

, NETHERLANDS

150
125

100
75

50
400
350

»

I

I

L

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

'

l

'

I

I

'

'

.JAPAN

300
250

200
150

100
200
175

I

I

— SWITZERLAND

— FRANCE

150
125

100
75

50

I

I

I

L

I

I

I

I

•

»

I

I

I

I

»

200
175

— CANADA

— UNITED KINGDOM

150
125

100
75

50

•

•

I




»

•
1988

'

I

•

»

•

'

•

•
1990

•

'

'

'

I

i

'
1988

'

l

'

1990

6-Jun-90
Chart 1.

13-Jun-90 20-Jun-90 27-Jun-90 4-Jul-90

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

2.8691
85.147
17.517
59.068
0.08029
0.65719
52.454
69.704
168.13

2.8722
85. 352
17. 548
59. 067
0.08040
0.64953
52. 494
69. 478
169 .37

2.8893
85.300
17.677
59.428
0.08101
0.64967
52.799
70.326
171.34

2.9114
85.032
17.796
59.750
0.08154
0.64561
53.091
70.930
173.34

2.9317
85.825
17.933
60.207
0.08205
0.65792
53.475
71.080
175.68

113.06
84.86
78.94
166.16
46.09
172.07
150.58
224.25
68.00

113 .18
85 .07
79 .07
166 .16
46 .15
170 .07
150 .70
223 .52
68 .50

113.85
85.02
79.66
167.18
46.50
170.11
151.58
226.25
69.30

114.72
84.75
80.19
168.08
46.80
169.04
152.41
228.19
70.11

115.52
85.54
80.81
169.37
47.09
172.27
153.51
228.67
71.06

107.40
78.50
72.40
171.63
40.56
169.07
145.96
67.43
217.25
62.28
92.39

107.88
77.95
72.67
172.04
40.69
167.25
146.30
67.56
218.41
62.85
91.99

107.82
78.10
72.68
172.07
40.63
169.40
146.25
67.47
217.20
63.26
91.12

-5.24
-1.70
0.12
-2.84
0.98
-0.14
-0.59
-6.34

-5.18
-1.65
0.13
-2.79
0.91
-0.01
-0.57
-6.24

-5.06
-1.73
0.07
-2.87
0.67
-0.01
-0.74
-6.30

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.

-5.37
-1.64
0.10
-3.25
1 .03
-0.01
-0.51
-6.60

-5 . 17
-1 .65
0 . 08
-2 .99
0 .99
-0 .12
-0 .66
-6 .40

Gold Price in London, Afternoon Fixing

U.S. dollars per fine ounce
Chart 4.

107 .25
78 .94
72 .17
171 .31
40 .42
169 .89
145 .77
67 .40
215 .56
61 .80
92 .92

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.

107.11
78.72
72.02
171.29
40.36
172.11
145.63
67.45
216.26
61.29
92.91

360.23

353 .45

347.51

350.31

357.28

8.26
8.09
13.68
9.75
6.60
7.19
8.24
8.38
14.83

8 .30
8 .14
13 .68
9 .51
7 .73
7 .15
8 .19
8 .38
14 .40

8.28
8.09
13.25
9.78
7.74
7.07
7.75
8.38
14.75

8.28
8.20
13.23
9.81
7.76
7.33
7.84
8.38
14.89

8.33
8.21
13.34
10.10
7.98
7.36
7.28
8.38
14.88

Call Money Rates

U.S. federal funds
Overnight Euro-dollar deposits
Canada
France
Germany
Japan
Netherlands
Switzerland
United Kingdom




6-Jun-90
Chart 5.

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
CG-10 Countries)
Chart 6.

8. 22
13. 68
9.,86
8,,24
7,.36
8 .18
8 .63
15 .11
9 .97

8.23
13.73
9.93
8.25
7.37
8.31
8.75
14.94
9.95

8.22
13.76
9.93
8.26
7.38
8.30
8.68
14.87
9.92

8 .26
13 .77
9 .96
8 .24
7 .46
8 .24
8 .75
14 .89
9 .92

8 .25
13 .73
9 .98
8 .16
7 .60
8 .18
8 .83
14 .91
9 .93

8. 09
8. 13
8. 16
8. 23
8. 31
8. 50

8. 14
8. 13
8. 19
8. 24
8. 29
8. 44

8. 09
8. 13
8. 19
8. 20
8. 25
8. 40

8. 20
8. 20
8. 21
8. 25
8. 31
8. 46

8. 21
8. 20
8. 19
8. 21
8. 26
8. 33

Euro-Dollar Deposit Rates

Overnight
7-day
1-month
3-month
6-month
1-year
Chart 7.

13-Jun-90 20-Jun~90 27-Jun-90 4-Jul-90

Selected Euro-dollar & U

Money Market Rates
8. 09
8. 26
-0. 17

8. 14
8. 30
-0. 17

8 .09
8 .28
-0 .19

8 ,20
8 ,28
-0 . 08

8..21
8..33
-0 ,12
,

8 .23
8 .22
0 .01

8. 24
8. 23
0. 01

8. 20
8, 22
-0..02

8..25
8 .26
-0 ,01
,

8,.21
8 .25
-0 .03

Euro-dollar deposit
Interbank sterling (London), covered
Differential

8 .23
8 .25
-0 .03

8. 24
8. 31
-0. 07

8..20
8..29
-0.. 09

8,.25
8 ,42
.
-0.,17

8 .21
8 .37
-0 .16

U.S. commercial paper
Canadian finance paper, covered
Differential

8 .12
8 .13
-0 .01

8. 13
8. 38
-0..25

8 .13
8 .34
-o .21

8 .16
8 .41
-0 .25

8 .16
8 .49
-0 ,34

Euro-dollar deposit
Interbank DM (Frankfurt), covered
Differential

8 .23
8 .34
-0 .11

8 .24
8 .34
-0 .10

8 .20
8 .38
-0 .18

8 .25
8 .37
-0 .12

8 .21
8 .23
-0 .01

8 .23
8 .11
0 .12

8 .24
8 .08
0 .16

8 .20
8 .07
0 .13

10 .69
10 .12
8 ,94
6 .70
6 .32
10 .73
8 .48

10.68
10.22
8.99
6.78
6.32
10.83
8.46

10,.92
10..42
9..00
ND
6 .28
10 .63
8 .48

ND
10 .27
8 .93
ND
6 .16
10 .47
8 .54

ND
ND
8 .82
ND
6 .17
10 .67
8 .43

120.,37
151.,94
117,.86
183 .22
107 .56
143 .18
145 .94
146 .40

120,,16
149.,53
113 .78
179 .85
108 .00
143 .90
149 .98
146 .29

117 .65
148. 53
117 .12
178,,97
,51
107 .
142 .95
147 .67
143 .97

117 .28
150 .33
119 .37
178 .64
107 .73
144 .62
147 .61
142 .52

119 .14
149 .59
121 .87
178 .71
107 .13
148 .31
145 .94
144 .53

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.

Interest Arbitrage, 3-Month Funds

Euro-dollar deposit
Swiss interbank, covered
Differential
Chart 9.

8 .21
8 .06
0 .15

Long Term Government Bond Yields

Canada
France
Germany
Japan
Switzerland
United Kingdom
United States
Chart 10.

8 .25
8 .17
0 . 08

Stock Indices (Wednesday figures)

Canada
France
Germany
Japan
Netherlands
Switzerland
United Kingdom
United States

i Toronto Composite, CAC General, FAZ Aktien ,
Tokyo SE (Topix), CBS All-General,



• oOL5Pty.".

FEDERAL RESERVE statistical release
8.10(512)

July 6, 1990

FOREIGN EXCHANGE RATES
FOR THE MEEK ENDING

JULY 6, 1990

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
*NEH ZEALAND
NORWAY
PORTUGAL
SINGAPORE
SOUTH AFRICA
SOUTH KOREA
SPAIN
SRI LANKA
SWEDEN
SWITZERLAND
TAIWAN
THAILAND
•UNITED KINGDOM

MONETARY
UNIT

Jul. 2

DOLLAR
SCHILLING
FRANC
DOLLAR
YUAN
KRONE
ECU
MARKKA
FRANC
D. MARK
DRACHMA
DOLLAR
RUPEE
POUND
LIRA
YEN
RINGGIT
GUILDER
DOLLAR
KRONE
ESCUOO
DOLLAR
RAND
WON
PESETA
RUPEE
KRONA
FRANC
DOLLAR
BAHT
POUND

0.7964
11.648
34.050
1.1619
4.7339
6.3070
1.2307
3.8900
5.5640
1.6575
162.30
7.7870
17.450
1.6197
1216.75
151.27
2.7045
1.8657
0.5903
6.3720
145.90
1.8325
2.6525
718.80
101.78
40.018
6.0100
1.4040
N.A.
25.780
1.7634

0.7974
11.620
33.960
1.1625
4.7339
6.2870
1.2507
3.8750
5.5430
1.6519
161.80
7.7875
17.450
1.6200
1211.70
151.20
2.7060
1.8601
0.5902
6.3520
145.20
1.8330
2.6500
718.30
101.43
40.018
5.9970
1.3945
27.170
25.760
1,7795

90.88

90.56

MEMO:
BtUNTTEB STATES j DOLLAR

(CURRENCY UNITS PER DOLLAR)
Jul. 3
Jul. 4
Jul. 5

H
0
L
I
D
A
Y

Jul. 6

0.7990
11.608
33.950
1.1632
4.7339
6.2825
1.2528
3.8630
5.5365
1.6493
161.50
7.7820
17.420
1.6250
1210.00
150.77
2.7065
1.8577
0.5900
6.3400
145.20
1.8320
2.6450
718.70
101.23
40.018
5.9905
1.3997
27.148
25.730
1.7805

0.7974
11.638
34.000
1.1632
4.7339
6.2960
1.2501
3.8770
5.5530
1.6540
162.20
7.7795
17.420
1.6206
1213.25
151.03
2.7070
1.8617
0.5903
6.3510
145.40
1.8310
2.6452
718.80
101.43
40.018
5.9980
1.4015
27.139
25.750
1.7865

90.47

90.60

••INDEX OF WEIGHTED AVERAGE EXCHANGE VALUE OF U.S. DOLLAR AGAINST CURRENCIES OF OTHER G-10
CtXWTRIES. 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.