Full text of H.13 Selected Interest and Exchange Rates, Weekly Series of Charts : June 12, 1995

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(516/517)

Selected Interest &
Exchange Rates
Weekly Series of Charts

June 12,1995

DIVISION OF
INTERNATIONAL FINANCE

Prepared by the
FINANCIAL MARKETS
SECTION

BOARD OF GOVERNORS
FEDERAL RESERVE SYSTEM
Washington, DuC. 20581




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

120

RATIO SCALE
MARCH 1973=100

150

FOREIGN CURRENCY
PRICE OF U.S. DOLLAR

100

BELGIAN FRANC
130

80

110

1

« '

1

'

1

1

» '

1

1

I

•

•

'

90
390

JAPANESE YEN

SWISS FRANC

330
270

210

I

I

I

I

I

I

I

I

I

I

I

I

I

I

I

150
105

CANADIAN DOLLAR
85

U.K. POUND

65

•

'

'

I

'

•

•

I

'

'

'

I

I

I

I

45
215

GERMAN MARK

DUTCH GUILDER

195

175

I

I

I

I

I

I

I

1 I

I

I

» I

I

»

155
75

ITALIAN LIRA

FRENCH FRANC

95

55

75

55

35

i

i

i




I

i

I
1993

i

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i

i

I

i

i
1995

I

I

I

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» I
1993

I

I

I

I

I
1995
15

CHART 2

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

PERCENT PER ANNUM

2

2

U.K. POUND

JAPANESE YEN

CANADIAN DOLLAR

DUTCH GUILDER

SWISS FRANC

FRENCH FRANC




1993

%

1995

ITALIAN LIRA

1992

1994

CHART 3

PRICE OF GOLD IN LONDON
AVERAGES FOR WEEK ENDING WEDNESDAY
U.S. DOLLARS PER FINE OUNCE
420

U.S. DOLLARS PER FINE OUNCE
420

12.5 Kg BARS
AFTERNOON FIXING PRICE
400

—

400

380 - -

—

380

360 —

360

340 —

—

320
1991




1992

1993

1994

1995

340

320

CHART 4

CALL MONEY RATES
WEEKLY SERIES
PERCENT PER ANNUM

PERCENT PER ANNUM
7

10

SWITZERLAND
U.S. FEDERAL FUNDS

JAPAN

NETHERLANDS

GERMANY

FRANCE

CANADA

UNITED KINGDOM




1993

1995

1993

1995

CHART 5

3-MONTH INTEREST RATES
WEEKLY SERIES
PERCENT PER A M

ENT PER ANNUM

9

10
CANADIAN FINANCE PAPER
WEIGHTED AVERAGE
FOREIGN RATE

8

7

6
5

4

2

U.S. CD'S

i

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12

3
11

NETHERLANDS INTERBANK RATE
9

10
U.K. INTERBANK STERLING

8

7

6

5

4

i

'

'

I

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1

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1

1

1

» I

1

» » I

»

I

1

1

1

1

1

1

•

1

1

«

1

7

3
13

11
5

FRENCH INTERBANK RATE

JAPANESE CD RATE

9
3

1
10

7

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5
11

GERMAN INTERBANK RATE
9

8
SWISS INTERBANK

6

7

4

5

2

i




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1993

I

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1995

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1993

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1

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1995

3

CHART 6

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

PERCENT PER ANNUM

8

8
3-MONTH

OVERNIGHT

6 —

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2

8

6-MONTH

7-DAY
6

—

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1

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1

1-YEAR

1-MONTH
6 —

I

I

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I

I

•
1993

•

I

•

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•
1995

•

I

I

I

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'
1993

'

I

1

1

1

I

1

1

1

1995

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

7

7

3-MONTH
OVERNIGHT

EURO-DOLLAR DEPOSITS

EURO-DOLLAR DEPOSITS

ML i

90-DAY CD'S
DASHED LINE

FEDERAL FUNDS
DASHED LINE

J

I

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J

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J

DIFFERENTIAL

I




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1993

I

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L_J

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DIFFERENTIAL
, *A n . A ,

J

I

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L
1995

J

I

^ .ftr\, .

L

J
1993

I

I

I

1995

CHART 8

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

PERCENT PER ANNUM

7

7

6

CANADIAN FINANCE
CO. PAPER, COVERED

INTERBANK STERLING

—

COVERED LONDON

5 —

U.S. COMMERCIAL PAPER
DASHED LINE

EURO-DOLLAR DEPOSITS
DASHED LINE

3 —
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I

1

I

» I 1

DIFFERENTIAL

DIFFERENTIAL

•

1 i

1

1

1

1

1

1

1

» I

1

I

I

1

'

INTERBANK DM

6 —

SWISS INTERBANK (SF) COVERED

COVERED FRANKFURT

EURO-DOLLAR DEPOSITS
A

^URO-DOLLAR DEPOSITS

DASHED LINE

DASHED LINE

3 —
•

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DIFFERENTIAL

DIFFERENTIAL

J_L

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1993

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1995

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1993

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1995

I 1

CHART 9

LONG-TERM GOVERNMENT BOND YIELDS
WEEKLY SERIES
PERCENT PER ANNUM
11

PERCENT PER ANNUM
9

UNITED KINGDOM

FRANCE

CANADA

JAPAN

SWITZERLAND

GERMANY

NETHERLANDS




•
1993

1995

i
1993

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1995

i

CHART 10

STOCK INDICES
WEEKLY SERIES
RATIO SCALE

RATIO SCALE

1986=100
220 i
UNITED STATES

1986=100
200

UNITED KINGDOM

180
160

140

I
SWITZERLAND

I

•

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I

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I

I

J_L

120
160

JAPAN
140
120

100

I

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I

GERMANY

I

I

I

'

'

I

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80
180

CANADA

140

160

120

140

100

120

1

1

1

80
190

i

1

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1

1

I

1

1

1

I

1

1

I

FRANCE

I

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I

I

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100
180

NETHERLANDS

170

160

150 —

140

—

130

110

•

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1993

•

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1995

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1993

•

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1995

120

100

10-May-95 17-May-95 24-May-95 31-May-95 7-Jun-95
Chart 1.

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

3.5302
73.625
20.542
72 .801
0.06126
1.19772
64 .998
88.167
159.91

3.3861
73.767
19.778
69.513
0.06055
1.15586
62.171
83.301
156.63

3.3644
73.430
19.513
69.230
0.05958
1.14627
61.849
83.025
157.05

3.4853
72.953
20.303
71.626
0.06106
1.19223
63.977
86.694
159 .88

3.4502
72.597
20.161
70.798
0.06108
1.17976
63.295
85.862
159.20

.11
139 .
73 .
,38
.57
92 .
.79
204 .
35,.16
.60
313 ,
186 .60
283 .65
64 .68

.43
133 ,
.52
73 ,
.13
89 ,
.55
195 ,
.75
34 ,
302 .64
178 .48
267 .99
63 .35

.57
132 .
.19
73 ,
87 .93
.75
194 .
.20
34 ,
300 .13
177 .56
267 .10
63 .52

137,.34
.71
72 .
91,.49
201..49
35,,05
.17
312 ,
.67
183 ,
.91
278 ,
64 .
.67

135..96
72 ,
.36
90 .85
.16
199 ,
35 .06
308 .90
181,.71
276 .23
64 .39

116. 96
61. 86
74 .65
189 .17
26. 98
294 .81
160 .18
51. 23
239. 48
52 .29
84 .39

118 .55
59. 96
76 .10
191. 80
27 .04
300. 40
162 .13
50 .85
244 .64
52 .,03
82 .,01

118. 02
60. 02
76 .00
190 .48
27. 22
298. 85
161. 29
51. 29
243 .70
52 .,12
82..62

-1,.22
-0,.98
1..56
-3 .77
,
4 .86
,
1 .62
2 .59
-0 .60

-1..28
-1..18
1..62
-4 .15
,
4 .89
,
1,.69
2 .75
,
-0 .44

-1..31
-1..49
1,.63
-4 .58
,
5,.02
1,.69
2 .88
,
-0 .52

-1..29
-1..40
1..52
-4 .66
,
4 .88
,
1,.42
2 .62
-0 .57

387 .13

383 .54

382 .53

385 .34

384 .20

6 .00
5 .94
7 .85
7 .61
4 .45
1 .27
4 .35
3 .03
5 .57

6 .02
5 .94
7 .62
7 .56
4 .45
1 .29
4 .32
3 .31
6 .38

5 .99
5 .94
7 .64
7 .51
4 .42
1 .24
4 .36
3 .08
5 .90

6 .02
5 .94
7 .62
7 .56
5 .22
1 .24
4 .18
3 .13
5 .91

6 .01
5 .94
7 .45
7 .47
4 .45
1 .24
4 .13
3 .14
6 .05

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.

3-Month Forward Exchange Rates,

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

117 .12
61. 82
75. 35
188. 93
27. 30
295. 85
160 .19
51. 34
239 .03
51.,84
83 ..84

Premium or Discount
-1..26
-1..37
1,.57 „
-4 .14
,
4 .84
,
1 .58
2 .72
-0 .66

Fixing
Gold Price in London, Afternoon Fixing

U.S. dollars per fine ounce
Chart 4.

119 .18
60. 05
76 .43
193 .76
26. 91
299 .35
163 .54
50 .99
246 .95
51. 59
81.,21

Call Money Rates

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




May -95 17-May -95 24-May-95 31-May -95 7-Jun-95
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
(G-10 Countries)
Chart 6.

6 .03
7 .44
6 .96
4 .50
1 .34
4 .44
3 .39
6 .60
4 .88

6.02
7.52
7.10
4.47
1.34
4.39
3.30
6.51
4.89

5 .97
7 .50
7 .42
4 .45
1 .24
4 .30
3 .13
6 .54
4 .84

5.84
7.34
7.20
4 .43
1.15
4.26
3.19
6.56
4.76

5 .94
5 .94
5 .99
6 .04
6 .11
6 .29

5 .94
5 .94
5 .98
6 .03
6 .06
6 .09

5.94
5.94
5.99
6.02
6.06
6.11

5 .94
5 .94
5 .98
5 .97
5 .96
5 .96

5.94
5.90
5.90
5.84
5.77
5.69

Euro-Dollar Deposit Rates

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

6 .02
7 .58
7 .44
4 .50
1 .33
4 .46
3 .27
6 .75
4 .94

Selected Euro-dollar & U.S. Mone y Market Rates

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

5 .94
6 .00
-0 .06

5 .94
6 .02
-0 .08

5.94
5.99
-0.05

5 .94
6 .02
-0 .08

5.94
6.01
-0.07

6 .04
6 .02
0,.02

6 .03
6 .03
0,.00

6.02
6.02
-0.01

5,.97
5 .97
-0,.00

5.84
5.84
0.01

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

6..04
6..08
-0..04

6..03
5..99
0..04

6.02
6.06
-0.04

5..97
6..01
-0..04

5.84
5.98
-0.14

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

6..06
6.,29
-0.23

6..07
6.,19
-0. 13

6.05
6.21
-0.16

6. 02
6. 16
-0. 14

5.90
6.02
-0.12

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

6. 04
6. 09
-0. 05

6. 03
6. 08
-0. 05

6.02
6 .11
-0.09

5 .97
6. 09
-0.13

5.84
5.96
-0.12

6. 04
6. 01
0. 04

6. 03
6. 00
0. 03

6.02
6.07
-0.06

5. 97
6. 02
-0.05

5.84
5.83
0.01

8. 05
7. 62
6. 92
3. 48
4. 75
7. 00
8. 24
6. 70

8. 07
7. 45
6. 84
3 .43
4 .77
6. 95
8. 14
6. 61

8.03
7.43
6.80
3.30
4.76
6.88
8.02
6.57

7. 98
7. 39
6. 65
3 .04
4 .69
6. 76
7. 85
6. 35

7 .74
7.37
6.65
2.97
4.67
6.74
7.76
6.13

142 .67
153.99
114.10
101.05
154.96
220.26
194.28
207.61

145 74
154 67
116 63
99 20
155 61
226 12
194.57
208.42

148.00
152.79
116.45
96.75
156.64
227.93
195.30
208.76

148.25
151.01
115.10
94.83
156.70
227.33
194.11
210.57

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.

10-year maturity, where available

Dnd Yields

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

Stock Indices (Wednesday figures)

Canada
France
Germany
Japan
Netherlands
Switzerland
United Kingdom
United States
Financial Times Ordinary, NYSE Composite



149.17
153.75
118.12
95.53
157.73
228.35
197.79
210.95
to SBF250

••iisi$&;•

FEDERAL RESERVE statistical release
June 12, 1995

H.10(512)

FOREIGN EXCHANGE RATES
FOR T H E W E E K

ENDING

JUNE 9, 1995

The Board of Governors of the Federal Reserve System is advisee! that the federal Reserve Bank of New York: has certified
for customs purposes the following noon buying rates m New York City for cable transfers payable m foreign currencies:
MONETARY
UNIT

COUNTRY

DOLLAR
^AUSTRALIA
SCHILLING
AUSTRIA
FRANC
BELGIUM
DOLLAR
CANADA
YUAN
CHINA,P.R.
KRONE
DENMARK
* E U R O C O M M U N I T Y ECU
MARKKA
FINLAND
FRANC
FRANCE
D. MARK
GERMANY
DRACHMA
GREECE
DOLLAR
HONG KONG
RUPEE
INDIA
POUND
^IRELAND
LIRA
ITALY
YEN
JAPAN
RINGGIT
MALAYSIA
MEXICO
;P E S O
GUILDER
NETHERLANDS
DOLLAR
*NEW Z E A L A N D
NORWAY
|K R O N E
PORTUGAL
iE S C U D O
SINGAPORE
|D O L L A R
RAND
SOUTH AFRICA
WON
SOUTH KOREA
PESETA
SPAIN
RUPEE
SRI LANKA
KRONA
SWEDEN
|FRANC
SWITZERLAND
!DOLLAR
TAIWAN
I BAHT
THAILAND
* U N I T E D KINGDOM; P O U N D

T
Jun. 5

( C U R R E N C Y U N I T S PER D O L L A R )
Jun. 8
Jun.
Jun. 6

Jun. 9

0.7143
9.880
28.800
1.3772
8.3198
5.4775
1.3185
4.3165
4.9180
1.4050
225.72
7.7345
31.400
1.6250
1623.50
84.63
2.4527
6.1800
1.5714
0.6680
6.2395
147.57
1.3915
3.6770
763.80
121.100
50.220
7.2220
1.1555
25.670
24.660
1.5955

0.7165
9.960
29.090
1.3810
8.3204
5.5230
1.3078
4.3480
4.9665
1.4162
227.15
7.7350
31.400
1.6200
1636.50
85.10
2.4370
6.1250
1.5835
0.6703
6.3140
148.71
1 3930
3.6770
763.80
121.920
49.790
7.2385
1.1700
25.740
24.690
1.5900

0.7205
9.881
28.880
1.3805
8.3183
5.4850
1.3156
4.3080
4.9500
1.4050
225.79
7.7345
31.412
1.6240
1642.25
84.24
2.4392
6.1500
1.5716
0.6720
6.2590
147.88
1.3917
3.6790
764.90
122.120
49.850
7.2135
1.1580
25.690
24.650
1.5942

0.7227
9.953
29.100
1.3738
8.3166
5.5210
1.3081
4.3470
4.9800
1.4152
227.90
7.7345
31.410
1.6210
1646.25
84.90
2.4385
6.2300
1.5832
0.6703
6.3230
148.84
1.3923
3.6805
764.00
122.660
49.950
7.2390
1.1685
25.690
24.700
1.5920

0.7200
9.871
28.850
1.3769
8.3200
5.4790
1.3161
4.3190
4.9250
1.4035
226.67
7.7345
31.420
1.6290
1634.00
84.40
2.4418
6.2700
1.5705
0.6680
6.2425
147.56
1.3920
3.6750
763.50
121.670
50.200
7.2215
1.1585
25.690
24.660
1.5945

82.22

82.79

82.37

82.77

82.25

!

MEMO:
**UNITED STATES
*VALUE

DOLLAR

IS U . S . D O L L A R S

* * I N D E X OF W E I G H T E D A V E R A G E E X C H A N G E V A L U E OF U . S .
D O L L A R A G A I N S T C U R R E N C I E S OF O T H E R G - 1 0
COUNTRIES.
MARCH 1973 = 100.
W E I G H T S A R E 1 9 7 2 - 7 6 G L O B A L T R A D E OF E A C H OF T H E 10 C O U N T R I E S .
S E R I E S R E V I S E D A S OF A U G U S T 1 9 7 8 .
FOR D E S C R I P T I O N A N D BACK D A T A , S E E " I N D E X OF THE
W E I G H T E D - A V E R A G E E X C H A N G E V A L U E OF THE U . S . D O L L A R : R E V I S I O N " ON P A G E 700 OF THE A U G U S T
1978 FEDERAL

RESERVE BULLETIN.

T H I S R E L E A S E IS A V A I L A B L E O N L I N E T H R O U G H THE F A C I L I T I E S OF THE D E P A R T M E N T OF C O M M E R C E ' S
ECONOMIC BULLETIN BOARD.
FOR I N F O R M A T I O N , C A L L ( 2 0 2 ) 4 8 2 - 1 9 8 6 .
FOR I N F O R M A T I O N A B O U T YOUR S U B S C R I P T I O N TO T H I S R E L E A S E OR A B O U T R E C E I V I N G IT IN D O C U M E N T
F O R M , P L E A S E CALL P U B L I C A T I O N S S E R V I C E S AT THE F E D E R A L R E S E R V E B O A R D AT ( 2 0 2 ) 4 5 2 - 3 2 4 4 .