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(516/517) Selected Interest & Exchange Rates Weekly Series of Charts June 12,1989 Prepared by the FINANCIAL MARKETS SECTION DIVISION OF INTERNATIONAL FINANCE 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 HI.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: $30.00 per year or $.70 each in the United States, its possessions, Canada, and Mexico. Elsewhere, $35.00 per year or $.80 each. Remittance should accompany request and be made payable to the Board of Governors of the Federal Reserve System and forwarded to Publications Services, MS-138, Board of Governors of the Federal Reserve Sysi m, Washington, DC 20551. Remittance from foreign residents should be drawn on a U.S. bank. Stamps and coupons are not accepted. 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 RATIO SCALE MARCH 1973=100 140 FOREIGN CURRENCY PRICE OF U.S. DOLLAR X __ BELGIAN FRANC 120 100 100 ^ 2 , 90 90 — 80 80 I I I 70 I I I I I I 70 280 280 240 _ 200 180 SWISS FRANC J - V — t\r JAPANESE YEN - — 120 - 180 - 160 - 140 11111111111 120 AT — I I 240 - — ^ — / \ f ^ - 160 140 „ 200 f — VW< I I I I I I I I I I I I I I II HILL I I I I I 100 CANADIAN DOLLAR 90 80 - U.K. POUND 70 - 60 50 I I I I I I I 11 l i i h i l i i 11111111111 200 180 200 - DUTCH GUILDER 160 - 140 - GERMAN MARK - 160 - 120 140 120 I 100 I ~ I 120 - 100 90 180 ITALIAN LIRA FRENCH FRANC X 80 \ 60 — 50 45 z \ 40 N 70 60 - I 50 —I 1987 1989 I I I I 1987 I - 35 - 30 I l l 1 ! 11111111111 M i l l h i l l i I 1989 25 CHART 2 3-MONTH FORWARD EXCHANGE RATES PREMIUM (+) OR (-) AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER ANNUM PERCENT PER ANNUM 4 4 UK CANADIAN DOLLAR A I I I x Z " i i i ^ A * >\ ^ - N I I I I I I I I I SWISS FRANC I I I I I iilnli.l.i I I I I I I I I I I I ITALIAN LIRA I - i 12 I A " FRENCH FRANC IT I DUTCH GUILDER / I I JAPANESE YEN GERMAN MARK I POUND - i i i i i i 1987 1111! I ! I! 11 12 1989 1987 1989 CHART 3 PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY U.S. U.S. DOLLARS PER FINEOI DLLARS PER FINE OUNCE 520 520 500 500 12.5 Kg BARS AFTERNOON FIXING PRICE 480 480 460 460 440 440 420 420 400 400 380 380 360 360 340 340 320 320 300 300 1986 1987 1988 1989 CHART 4 CALL MONEY RATES WEEKLY SERIES PERCENT PER AN* :ENT PER ANNUM 16 16 12 U.S. FEDERAL FUNDS 12 FRANCE vAv^ 8 I 8 JAPAN 4 4 I I In 0 1 1 1 1 1 1 lllllllllll lllllllllll 16 0 16 CANADA 12 12 8 - GERMANY 8 s /YV^ 4 0 1 1 1 1 1 4 0 1 16 20 UNITED KINGDOM SWITZERLAND 16 12 12 8 8 4 4 NETHERLANDS ii/nTiTlii 0 1987 1989 1987 0 1989 CHART 5 3-MONTH INTEREST RATES WEEKLY SERIES PERCENT PER ANh ENT PER ANNUM 12 12 FRENCH INTERBANK RATE 10 10 U.S. CD'S 8 8 6 6 WEIGHTED AVERAGE FOREIGN RATE 4 4 2 2 16 16 14 - U.K. INTERBANK STERLING 12 f - 10 12 10 8 - 6 I I I I I I 8 6 ill u h i l i i 8 8 6 14 CANADIAN FINANCE CO. PAPER GERMAN INTERBANK RATE __ SWISS INTERBANK RATE J — 6 4 4 2 - 0 I I 2 0 I 10 10 8 8 JAPANESE GENSAKI RATE 6 6 4 4 2 2 1987 1989 1987 1989 CHART 6 EURO-DOLLAR DEPOSIT RATES LONDON AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER ANI DENT PER ANNUM 14 14 3-MONTH OVERNIGHT 12 12 10 10 8 8 6 6 4 4 14 14 12 6-MONTH 7-DAY 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 1987 1989 1987 1989 CHART7 SELECTED EURO-DOLLAR AND U.S. MONEY MARKET RATES DIFFERENTIAL: PLUS(+),FAVORS BORROWING IN U.S. AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER ANI 14 14 12 12 10 10 3-MONTH EURO-DOLLAR DEPOSITS FEDERAL FUNDS DASHED LINE 8 8 6 6 OVERNIGHT EURO-DOLLAR DEPOSITS 90-DAY CD'S DASHED LINE 4 4 11111111111 2 11111111111 I I I I I I 1111111111 2 2 2 DIFFERENTIAL DIFFERENTIAL 1 1 + + 0 1 0 I I I 11111111111111111111 1987 tENTIAL CAL = 2 PERCENT ON RATE SCALE 1989 111111111111111111 n 1987 1989 1 CHARTS INTEREST ARBITRAGE: 3-MONTH FUNDS DIFFERENTIAL: PLUS(+), INDICATES FAVOR DOLLAR ASSETS AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER ANNUM PEI iENT PER ANNUM 16 16 12 INTERBANK STERLING COVERED LONDON CANADIAN FINANCE CO. PAPER, COVERED EURO-DOLLAR DEPOSITS DASHED LINE U.S. COMMERCIAL PAPER DASHED LINE 12 8 4 0 I I I I ill I I I I J J i l I I H i l l Ml III l u l u h i l l i 2 DIFFERENTIAL DIFFERENTIAL + 0 ^ x /V\/VvvVV vZu ^ I 2 I Ay I I I I I I III III i i h i h i h i 16 12 16 12 INTERBANK DM COVERED FRANKFURT SWISS INTERBANK (SF) COVERED 8 4 2 EURO-DOLLAR DEPOSITS DASHED LINE EURO-DOLLAR DEPOSITS DASHED LINE 11 0 11 u Iu I ii 1111 ii I ii 1111 ii 2 DIFFERENTIAL DIFFERENTIAL + 0 I I I IiiIiiIiiIiiIiiIiiIiiIiiI 2 1987 1989 I PERCENT ON DIFFERENTIAL SCALE = 2 PERCENT ON RATE SCALE I I U III Hill I 1987 i k i 1989 CHART9 LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES PERCENT PER ANI SENT PER ANNUM 14 14 CANADA UN TED STATES 12 12 10 10 8 8 6 6 14 14 12 __ UNITED KINGDOM - FRANCE 12 V 10 8 I 6 I 10 K v A " 8 I I I 6 I 10 8 10 _ SWITZERLAND - JAPAN - 6 6 4 - 2 111 I I I I I 4 2 I 10 8 8 10 NETHERLANDS MONTHLY - GERMANY - 6 6 4 - lull 2 8 1987 I 1989 I I I I 1987 4 2 I 1989 CHART 10 INDUSTRIAL STOCK INDICES WEEKLY SERIES RATIO SCALE 1969=100 RATIO SCALE 1969=100 600 500 NETHERLANDS UNITED STATES 400 300 200 I 150 800 I I lilllllllllllll 400 — GERMANY JAPAN 600 500 - 400 - 300 —y 200 - M / TV K\f I I I I I I - - 200 — - - 150 i > 1111111, i - ,wvyV I I I I I I I|II|II|I! I FRANCE 150 I I 600 500 CANADA UNITED KINGDOM 400 - 300 200 I I l I I 1987 I 11111111111 1989 250 - SWITZERLAND I - - 200 100 300 - 300 250 - I Ilull II 1987 1989 100 SERIES CHART 1 . LAST VALUE PLOTTED DATE VALUE NAME SPOT &XCHANGB BATES AND I N D I C E S WEEKLY A V EE AGES, NOON BUYING RATES (U.S. CENTS) GERMAN MASK JAPANESE YEN DUTCH GUILDER U. K. POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC BELGIAN FJxANC ITALIAN LIRA SWEDISH KRONA INDICES, MARCH 1973 BASE BATES = WEIGHTED AVERAGE EXCHANGE VALUE I N D I C E S , i G - 1 0 COUNTRIES PLUS SWITZERLAND) CHART 2 . 7 7 7 7 7 7 7 7 7 7 5 0.78 0.70250 45.07 157.96 33.15 14.96 58.84 2 . 4 2 536 4.06991 1 5 . 03 JUNE JUNE JUNE JUNE JUNE JUNE JUNE JUNE JUNE 7 7 7 7 7 7 7 7 7 142.86 183.94 129.40 63.89 82.88 67.41 189.30 95.57 3 9.71 7 7 7 7 7 7 7 7 7 7 7 102.47 156.77 2 0 2 . 17 1 3 4 . 47 t>2.30 83.40 6 5.81 196.66 97.29 3 7 . 78 6 6 . 97 100 GERMAN MARK JAPANESE YEN DUTCH GUILDER U . K . POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC d a l G I A N FRANC ITALIAN LISA U. S. DOLLAR GERMAN MARK JAPANESE YEN DUTCH GUILDER U.K. POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC BELGIAN &EANC ITALIAN LIRA SWEDISH KRONA JUNE JUNE JUNE JUNE JUNE JUNE JUNE JUNE JUNE JUNE dAH 1973 = 100 JUNE JUNE JUNE JUNE JUNE JUNE JUNE JUNE JUNE JUNE JUN E 3-MONTH FORWARD EXCHANGE RATES, PkEMIUM OR DISCOUNT CANADIAN DOLLAR U . K . POUND GERMAN HARK FRENCH FRANC SWISS FRANC DUTCH GUILDER JAPANESE YEN I T A L I A N LIRA JUNE JUNE JUNE JUNE JUNE JUNE JUNE JUNE 7 7 7 7 7 7 7 7 - 2 . 79 — 4. 48 2. 42 0.5b 1. 83 2. 1b 4 . 35 - 2 . 84 LAST VALUE PLOTTED DATE VALUE SERIES NAME CHART 3 . GOLD P R I C E I N U.S. CHART 4 . LONDON, AFTERNOON F I X I N G DOLLARS PER F I N E OUNCE EURO-DOLLAR DEPOSIT RATES: JUNE JUNE JUNE JUNE JUNE JUNE JUNE JUNE JUNE 7 7 7 7 7 7 7 7 7 9.68 9 . 76 13.30 12.47 6.43 4 . 71 8.56 6.67 6 . 77 JUNE JUNE JUNE JUNE JUNE JUNE JUNE JUNE JUNE 7 7 7 7 7 7 7 7 7 9.27 7.01 4. 41 12.40 1 4 . 09 7 . 40 8.76 7 . 19 8.49 JUSE JUNE JONS JUNE JUNE JUNE 7 7 7 7 7 7 9. 9. 9. 9. 9. 9. LONDON OVERNIGHT 7-DAK 1-MONTH 3-MONTH 6-MONTH 1-YEAR CHART 7 . 365.44 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 FOREIGN INTEREST RATE 1 G - 1 0 COUNTRIES PLUS SWITZERLAND) CHART 6 . 7 CALL MONEY BATES 0. S. FEDERAL FUNDS OVERNIGHT EURO-DOLLAR DEPOSITS U. K. CANADA GERM ANY JA PAN FRANCE NETHERLANDS SWITZERLAND CHART 5 . JUNE SELECTED EURO-DOLLAR AND U . S . 76 54 54 35 24 19 MONEY MARKET RATES OVERNIGHT EURO-DOLLAR DEPOSITS U . S . FEDERAL FUNDS DIFFERENTIAL JUNE JUNE JUNE 7 7 7 9 . 76 9 . 68 a . 08 3-MONTH EURO-DOLLAR DEPOSIT RATE U . S . 9 0 - D A Y C D ' S , SECONDARY MARKET DIFFERENTIAL JUNE JUNE JUNE 7 7 7 9.35 9 . 27 0. 08 SERIES NAME CHART 8 . LAST VALUE PLOTTED DATE VALUE INTEREST ARBITRAGE, 3-MONTH FUNDS EURO-DOLLAR DEPOSIT INTERBANK STERLING (LONDON), COVERED DIFFERENTIAL JUNE JUNE JUNE 7 7 7 9.35 9.45 - 0 . 10 Q.S. COMMERCIAL PAPER CANADIAN .FINANCE PAPER, COVERED DIFFERENTIAL JUNE JUNE JUNE 7 7 7 9.16 9.53 -0.37 EURO-DOLLAR DEPOSIT INTERBANK DM (FRANKFORT) , COVERED DIFFERENTIAL JUNE JUNE JUNE 7 7 7 9.35 9.48 - 0 . 13 EURO-DOLLAR DEPOSIT SWISS INTERBANK, COVERED DIFFERENTIAL JUNE JUNE JUNE 7 7 7 9.35 9.26 0 . 09 JUNE 2 JUNE 2 MAY 2b JUNE 2 JUNE 2 HAY 2b APRIL JUNE 8.57 7 . 08 4.93 5.29 9.85 9 . 13 7.98 9.43 CHART 9 . LONG TERM GOVERMENT dUND YIELDS UNITED STATES GERMANY JAPAN SWITZERLAND CANADA FRANCE NETHERLANDS (MONTHLY) ON I T ED KINGDOM O . S . CORPORATE AAA BONDS CHART 1 0 . MAY 9.33 STOCK INDICES UNITED STATES UNITED KINGDOM CANADA GERMANY SWITZERLAND NETHERLANDS FRANCE JAPAN JUNE JUNE JUNE JUNE JUNE JUNE JUNE JUNE 7 7 7 7 7 7 7 7 34 5 . 3 9 386.54 374.95 256.80 235.98 3 3 d . 81 436.42 659.53 FEDERAL RESERVE statistical release H.10(512) JUNE 9 , 1989 FOREIGN EXCHANGE RATES FOR THE WEEK ENDING JUNE 9 , 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 ^IRELAND ITALY JAPAN MALAYSIA NETHERLANDS *NEW 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: •UNITED STATES DOLLAR JUNE 5 (CURRENCY UNITS PER DOLLAR) JUNE 6 JUNE 7 JUNE 8 JUNE 9 75.60 13.835 41.100 1.2005 3.7314 7.6600 4.3925 6.6660 1.9625 167.430 7.8025 16.2900 136.55 1425.00 141.82 2.6970 2.2119 58.380 7.1250 162.900 1.9490 2.7410 669.20 124.700 34.117 6.6405 1.6950 25.970 25.820 158.07 75.28 13.930 41.400 1.2018 3.7314 7.7105 4.4210 6.7280 1.9795 170.550 7.8010 16.3500 134.70 1438.00 142.95 2.7060 2.2295 57.750 7.1690 165.150 1.9530 2.7725 NA 128.300 34.128 6.6710 1.7135 26.051 25.890 157.10 75.74 13.830 41.110 1.1973 3.7314 7.6575 4.3945 6.6625 1.9622 168.990 7.8060 16.2900 135.85 1429.00 142.50 2.7020 2.2102 57.150 7.1305 164.200 1.9430 2.7500 669.30 127.250 13.148 6.6390 1.6990 26.080 25.890 158.15 75.18 13.920 41.400 1.1976 3.7314 7.7085 4.4230 6.7110 1.9777 169.750 7.7970 16.3400 135.10 1442.25 143.40 2.7010 2.2282 57.070 7.1735 164.600 1.9480 2.7660 669.20 128.470 34.178 6.6735 1.7130 NA 25.900 157.30 74.50 14.115 41.960 1.2000 3.7314 7.8175 4.4625 6.7860 2.0035 172.500 7.7980 16.4200 133.25 1453.00 146.15 2.7080 2.2570 56.750 7.2465 167.000 1.9530 2.7860 669.20 129.400 34.197 6.7520 1.7400 NA 25.910 155.40 102.18 102.95 102.24 102.91 104.15 8INDEX 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 HEIGHTED-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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