Full text of H.13 Selected Interest and Exchange Rates, Weekly Series of Charts : June 1, 1993

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Selected Interest &
Exchange Rates
Weekly Series of Charts

June 1,1993

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

RATIO SCALE
MARCH 1973=100

120

140

FOREIGN CURRENCY
PRICE OF U.S. DOLLAR

130
120
110
100

BELGIAN FRANC
•

•

» I

I

•

1

>

1

1

'

1

I

1

1

i

i

i

I

i

i

i

I

i

i

i

I

i

i

i

90
240
220
200
180

JAPANESE YEN
SWISS FRANC
i

I

i

i

i

160
i

» •

i

I

'

'

'

i

'

I

'

i

» I

1

1

•

1

I

1

•

140
100
90

U.K. POUND

80
70
CANADIAN DOLLAR
i

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60
I

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50
200
190
180

- H 170
GERMAN MARK

DUTCH GUILDER
•

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i

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i

r

i

i

i

i

i

i

160
i

i

i

150
55
50

FRENCH FRANC

45
40
ITALIAN LIRA
I

I I
1990




I

I

I

I

I

I

I I
1992

I

I

I

I

I

I I
1990

I

I

I

I

35
I

I

I I
1992

I

30

CHART2

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

PERCENT PER ANNUM

2

2

U.K. POUND

CANADIAN DOLLAR

•

'

1

I

•

JAPANESE YEN

1

»

1

i

1

i

i

» i

i

I

SWISS FRANC

1

1990



1

1

I

» «

1

I

I

'

'

1 '

I

I

I

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I

I I

l

i

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1992

l

i

1

I

1

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I

I

i

»»

I

ITALIAN LIRA

FRENCH FRANC

1

1

DUTCH GUILDER

I

•

'

1

1

1

1

•
1992

I

'

•

•

i

i i
1990

I

i

i

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

12.5 Kg BARS
AFTERNOON FIXING PRICE

400

380

360 —

340

320

1990




1991

1992

1993

CHART4

CALL MONEY RATES
WEEKLY SERIES
PERCENT PER ANNUM

PERCENT PER ANNUM
— I 16

10

FRANCE

U.S. FEDERAL FUNDS

JAPAN

NETHERLANDS
GERMANY

UNITED KINGDOM

CANADA

SWITZERLAND
•

» •
1990

l

'




i

'

I

•

• •
1992

i

»

•

•
1990

1992

CHART 5

3-MONTH INTEREST RATES
WEEKLY SERIES
PERCENT PER ANNUM

PERCENT PER ANNUM

12

WEIGHTED AVERAGE
FOREIGN RATE

CANADIAN FINANCE PAPER

U.S. CD'S

3

2
16

13

10
U.K. INTERBANK STERLING

NETHERLANDS INTERBANK RATE

7

4
9

7
FRENCH INTERBANK RATE
JAPANESE CD RATE

5

3
10

8

SWISS INTERBANK

6

4

1990




1992

GERMAN INTERBANK RATE

7

CHART 6

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

PERCENT PER AN

10

3-MONTH

OVERNIGHT
8

6

4

2
14

1

1

1

I

»

12

1

1

»

1

•

1

1

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1

1

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7-DAY

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1

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•

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6-MONTH

10
8
6
4
2

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l

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1

*

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•

•

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i

10

1-YEAR

1-MONTH

8

6

4

2

i

i i
1990




I

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l

i

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1992

i

'

•

•

•

1

1990

•

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1

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1

1

1992

'

I

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I

I

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

10

10

OVERNIGHT

6

3-MONTH

EURO-DOLLAR DEPOSITS

8 —

EURO-DOLLAR DEPOSITS

—

FEDERAL FUNDS

90-DAY CD'S

DASHED LINE

DASHED LINE

4 —

J

i

i

I

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L_J

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'

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i

J—I

I

I

I

I

DIFFERENTIAL

I

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l_J

I

L_L

I

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I

I

DIFFERENTIAL

W-Vx/vy-yT

I

I
I
1990




I

1

1

1

I

1

1
1992

1

I

1

1

1

J

1

1990

1

I

I

I

I

I

I

1992

I

I

CHART 8

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

PERCENT PER ANNUM

10

10

CANADIAN FINANCE
CO. PAPER, COVERED

INTERBANK STERLING

COVERED LONDON

U.S. COMMERCIAL PAPER

EURO-DOLLAR DEPOSITS'

DASHED LINE

DASHED LINE

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1

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INTERBANK DM

I

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I

I

I

DIFFERENTIAL

I

I I
1990




I

I

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I

I

I

I

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I

I

I

I

I

DASHED LINE

DASHED LINE

I

i

EURO-DOLLAR DEPOSITS

EURO-DOLLAR DEPOSITS

I

i

SWISS INTERBANK (SF) COVERED

COVERED FRANKFURT

I

'

A

w

'

I

DIFFERENTIAL

DIFFERENTIAL

2
10

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1992

I

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DIFFERENTIAL

I

I

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1992

I

I

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1990

I

I

I

I

2
10

CHART 9

LONG-TERM GOVERNMENT BOND YIELDS
WEEKLY SERIES
tCENT PER ANNUM

PERCENT PER ANN I

10

14

UNITED STATES

UNITED KINGDOM

9

12

8
10
7
8

6
5
12

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6
12

11

11

10

10

9

9

8

8

7

7

8

8

SWITZERLAND

JAPAN

7

7

6

6

5

5

4

4

10

10

NETHERLANDS

GERMANY

9

9

8

8

7

7
1

6

»
1990

1

I

1




1

1

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> 1
1992

I

•

1

1

1

1990

1

1

1

1

1

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1

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1992

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6

CHART 10

STOCK INDICES
WEEKLY SERIES
RATIO SCALE
1986=100

RATIO SCALE
1986=100

200

200
UN TED KINGDOM

UNITED STATES

JAPAN

SWITZERLAND

ERMANY

I

I

I

I

FRANCE

I

I

I

I

I

1

I

1

I

I

1

CANADA

90

i

i

i

NETHERLANDS

I

1990




i

i

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I

i

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1992

i

I

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1990

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l

'

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'
1992

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28-Apr-93 5-May-93
Chart 1.

12-May-93 19-May-93 26-May-93

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

3.0692
79.032
18.694
63.129
0.06738
0.90132
56.167
69.788
157.24

3.0745
78.628
18.760
63.255
0.06777
0.90179
56.308
70.118
156.75

3.0434
78.618
18.573
62.610
0.06784
0.90101
55.793
69.228
155.05

3.0094
78.577
18.341
61.870
0.06768
0.89920
55.165
68.202
153.37

2.9901
79.088
18.240
61.442
0.06757
0.91007
54.849
68.212
154.42

120 .94
78 .77
84 .24
177 .59
38 .67
236 .00
161 .24
224 .52
63 .60

121 .15
78 .37
84 .54
177 .94
38 .90
236 .12
161 .65
225 .58
63 .40

119 .93
78 .36
83 .69
176 .13
38 .94
235 .91
160 .17
222 .71
62 .71

118 .59
78 .32
82 .65
174 .04
38 .85
235 .44
158 .37
219 .42
62 .03

117 .83
78 .83
82 .19
172 .84
38 .79
238 .29
157 .46
219 .45
62 .46

111 .05
70 .35
74 .79
178 .31
32 .78
238 .39
151 .52
54 .25
209 .35
54 .54
90 .05

110 .48
70 .79
74 .28
177 .14
32 .93
239 .56
150 .72
54 .63
207 .53
54 .27
90 .78

109 .72
71 .28
73 .81
175 .65
32 .86
242 .77
149 .77
55 .08
207 .53
54 .68
90 .76

-2.04
-4.75
-4.51
-7.77
-0.05
-4.21
-1.99
-2.95

-1 .97
-4 .64
-4 .38
-7 .67
-0 .07
-4 .07
-1 .95
-2 .82

-1 .95
-4 .37
-4 .21
-7 .36
-0 .02
-3 .79
-1 .98
-2 .87

-1 .65
-4 .31
-4 .30
-7 .33
0 .03
-3 .73
-1 .97
-2 .73

346.91

355.08

356 .27

2.87
2.85
4.40
8.80
7.59
3.13
7.67
5.05
5.93

2.98
2.91
4.50
8.34
7.69
3.19
7.53
5.20
5.88

2 .90
2 .85
4 .45
8 .14
7 .65
3 .15
7 .40
4 .88
5 .33

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
3-Month Forward Exchange Rate

Canadian dollar
French franc
German mark
Italian lira
Japanese yen
Netherlands guilder
Swiss franc
U.K. pound
Chart 3.

Premium or Discount
-2.03
-5.19
-4.59
-7.61
-0.04
-4.28
-1.94
-2.86

Gold Price in London, Afternoon Fixing

U.S. dollars per fine ounce
Chart 4.

111.60
69.94
75.17
179.33
32.55
237.16
152.12
54.35
210.94
54.87
89.42

370

00
w

Chart 2.

111.48
70.38
74.94
179.05
32.37
237.22
151.83
54.69
210.06
55.11
89.50

375 .66

3 .01
2 .95
4 .05
8 .05
7 .76
3 .16
7 .25
4 .93
5 .83

3 .07
2 .94
4 .44
7 .92
7 .75
3 .14
7 .22
4 .97
5 .63

Call Money Rates

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




Chart 5.

i

3.07
5.45
8.19
7.78
3.21
7.39
4.93
5.99
6.63

3.07
5.41
7.70
7.64
3.21
7.26
4.98
5.98
6.56

3 .06
5 .27
7 .58
7 .44
3 .22
7 .09
4 .90
5 .88
6 .40

3 .11
5 .37
7 .43
7 .26
3 .23
6 .87
4 .95
5 .96
6 .33

3 .14
5 .23
7 .33
7 .36
3 .25
6 .88
5 .03
5 .90
6 .30

2.85
2.96
3.00
3.06
3.18
3.36

2.91
2.98
3.00
3.06
3.18
3.36

2 .85
2 .94
3 .00
3 .06
3 .13
3 .31

2 .95
2 .95
3 .00
3 .11
3 .19
3 .51

2 .94
2 .96
3 .04
3 .16
3 .29
3 .63

Euro-Dollar Deposit Rates

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

-93

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.

12-May -93 19-May -93

to
<T&

28-Apr-93 5--May-93

Selected Euro-dollar & U.S. Money Market Rates

Overnight Euro-dollar deposits
U.S. federal funds
Differential

2.85
2.87
-0.02

2.91
2.98
-0.06

2 .85
2 .90
-0 .05

2 .95
3 .01
-0 .06

2 .94
3 .07
-0 .13

3-month Euro-dollar deposit
U.S. 90-day CD's, secondary market
Differential

3.06
3.07
-0.01

3.06
3.07
-0.01

3 .06
3 .06
0 .01

3 .11
3 .11
0 .00

3 .16
3 .14
0 .03

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

3.06
3.08
-0.02

3.06
2.99
0.07

3 .06
3 .01
0 .05

3 .11
3 .05
0 .06

3 .16
3 .13
0 .03

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

3.11
3.39
-0.28

3.11
3.34
-0.23

3 .09
3 .28
-0 .19

3 .14
3 .40
-0 .25

3 .17
3 .55
-0 .38

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

3.06
3.10
-0.03

3.06
3.04
0.02

3 .06
2 .98
0 .08

3 .11
2 .97
0 .14

3 .16
2 .98
0 .18

3.06
2.96
0.10

3.06
2.96
0.10

3 .06
2 .93
0 .13

3 .11
2 .95
0 .16

3 .16
3 .03
0 .13

7.52
7.12
6.79
4.52
4.77
6.72
8.07
5.97

7 .49
7 .16
6 .78
4 .56
4 .75
6 .66
8 .08
5 .91

7 .71
7 .10
6 .79
4 .69
4 .69
6 .63
8 .08
6 .08

7 .63
7 .14
6 .88
4 .75
4 .72
6 .72
8 .05
6 .14

126.26
143.85
95.54
122.56
118.13
170.23
170.89
180.64

126 .52
140 .49
96 .13
121 .66
119 .65
172 .11
173 .10
180 .89

127 .01
139 .52
95 .61
120 .83
116 .45
174 .62
170 .23
181 .47

128 .81
142 .40
95 .86
123 .99
119 .11
175 .68
171 .35
183 .71

Chart 8.

Interest Arbitrage, 3-Month Funds

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

Long Term Government Bellwether Bond Yields
10-year maturity, where available

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

7.45
7.06
6.66
4.38
4.67
6.58
7.92
. 5.95

Stock Indices (Wednesday figures)

Canada
France
Germany
Japan
Netherlands
Switzerland
United Kingdom
United States

123.50
144.95
96.23
120.44
118.30
167.28
171.33
177.83

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#




.-'ofGOu'-.

FEDERAL RESERVE statistical release
H.10(512)

May 28, 1993

FOREIGN EXCHANGE RATES
FOR THE WEEK ENDING

MAY 28, 1993

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
^IRELAND
ITALY
JAPAN
MALAYSIA
NETHERLANDS
*NEW ZEALAND
NORWAY
PORTUGAL
SINGAPORE
SOUTH AFRICA
SOUTH KOREA
SPAIN
SRI LANKA
SWEDEN
SWITZERLAND
TAIWAN
THAILAND
*UNITED KINGDOM
MEMO:
f*UNITED STATES

MONETARY
UNIT

May. 24

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

0.6941
11.514
33.640
1.2622
5.7433
6.2640
1.1970
5.5185
5.5100
1.6365
221.60
7.7270
31.600
1.4930
1485.50
110.35
2.5665
1.8325
0.5438
6.9090
155.10
1.6157
3.1965
805.00
124.85
47.940
7.3015
1.4717
26.045
25.255
1.5350

0.7001
11.455
33.470
1.2606
5.7433
6.2280
1.2025
5.4950
5.4880
1.6290
220.55
7.7280
31.600
1.5005
1478.50
109.50
2.5670
1.8242
0.5473
6.8800
154.00
1.6144
3.1900
804.40
124.37
N. A.
7.2800
1.4590
N. A.
25.250
1.5420

0.6984
11.477
33.500
1.2645
5.7433
6.2460
1.1993
5.5240
5.4985
1.6324
221.10
7.7280
31.600
1.4963
1489.00
108.65
2.5620
1.8288
0.5469
6.9035
155.42
1.6080
3.1930
804.50
127.08
47.990
7.3370
1.4625
26.158
25.205
1.5460

91.14

90.71

90.79

DOLLAR

(CURRENCY UNITS PER DOLLAR)
May. 25
May. 26
May. 27
0.6933
11.350
33.120
1.2637
N.A.
6.1650
1.2115
5.4600
5.4385
1.6130
218.35
7.7260
31.700
1.5145
1480.00
107.80
2.5603
1.8095
0.5449
6.8240
154.87
1.6096
3.1875
804.50
127.37
47.920
7.2600
1.4380
26.149
25.195
1.5545

89.99

May. 28
0.6862
11.173
32.650
1.2707
5.7433
6.0850
1.2350
5.3700
5.3615
1.5880
215.15
7.7242
31.700
1.5357
1465.00
107.17
2.5570
1.7809
0.5420
6.7415
152.50
1.6065
3.1800
804.50
125.50
47.920
7.1740
1.4185
26.101
25.110
1.5605

89.09

**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) 482-1986.
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 (202) 452-3244.