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(516/517) Selected Interest & Exchange Rates Weekly Series of Charts June 13,1988 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 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 $21.00 per year or $.50 each In the United States, Its possessions, Canada, and Mexico; 10 or more of the same issue to one address, $19.50 per year or $.45 each. Elsewhere, $26.00 per year or $.60 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 RATIO SCALE MARCH 1 9 7 3 = 1 0 0 RATIO SCALE MARCH 1 9 7 3 = 1 0 0 200 180 - FOREIGN CURRENCY PRICE OF U.S. DOLLAR 160 ITALIAN LIRA - 140 120 100 80 JAPANESE Y E N / — . 220 200 / ^ v / ^ T GERMAN MARK - r i i i i i i - v DUTCH GUILDER - CANADIAN DOLLAR — - I 70 - A v w 50 40 - j\r i I I i i i i i i i 11111111111 180 160 - 140 — 120 — 100 - 80 - 70 I IIIIIIIIII | ||II|II|II 60 - - 70 - - 60 - 50 — - FRENCH FRANC - n 111111 i n \ I I i i i J IIIIIIIIII Ill,, lull I 140 120 BELGIAN FRANC — y SWISS FRANC 80 - 70 - V I I I I 1986 I i ill i h i l l i yv 1988 I I 1986 I 280 — 200 60 I 40 — 240 90 50 — — 100 80 90 80 i 100 - — 60 - 90 — f 120 - w — U.K. POUND - — y — - 160 I I I I I I I I I I ! Ill I I l u l l , — 90 80 180 - — 140 ! — — — 180 - 160 - 140 - 120 | | | | | | | | | | | 11111111111 1988 100 CHART 2 3-MONTH FORWARD EXCHANGE RATES PREMIUM (+) OR ( - ) AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER ANNUM PERCENT PER ANNUM 8 4 JAPANESE YEN CANADIAN DOLLAR - V V " A ^ V " + 0 I I I I I I 11111111111 I I I i i l i i l u l i i 4 12 U. K,.POUND SWISS FRANC - I a z I I I 11111111111 lllilllllll DUTCH GUILDER GERMAN MARK i i i I I II I I I I I II I ITALIAN LIRA FRENCH FRANC 12 1986 1988 1986 1988 CHART 3 PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY U.S. [ U.S. DOLLARS PER FINE < LLARS PER FINE OUNCE 520 520 500 500 480 480 460 460 12.5 Kg BARS AFTERNOON FIXING PRICE 440 440 420 420 400 400 380 380 360 360 340 340 320 320 300 300 I I I I I I I 280 1985 1986 1987 280 1988 CHART 4 CALL MONEY RATES WEEKLY SERIES PERCENT PER ANNUM PERCENT PER ANNUM 16 12 U. S. FEDERAL FUNDS - FRANCE - JAPAN 8 v 4 0 X - 1 1 1 I i i i,, 11111111111 16 16 CANADA 12 8 GERMANY 4 0 20 16 UNITED KINGDOM SWITZERLAND 12 8 4 NETHERLANDS 0 1986 1988 1986 1988 CHART 5 3-MONTH INTEREST RATES WEEKLY SERIES PERCENT PER Ah NT PER ANNUM 16 12 10 CANADIAN FINANCE CO. PAPER U . S . CD'S 14 8 - 10 6 WEIGHTED AVERAGE FOREIGN RATE 4 - nliilii 2 14 I I I I I I 14 FRENCH INTERBANK RATE - 12 10 10 8 Y/^x I 6 I I I I ~~ 8 6 I 10 10 „ GERMAN INTERBANK RATE NETHERLANDS INTERBANK RATE - 8 6 6 \ 4 2 I I I I I •*- - 4 2 I 8 10 8 8 6 lllllllllll UX. INTERBANK STERLING 12 8 12 JAPANESE GENSAKI RATE SWISS INTERBANK RATE - 6 4 4 \^y I 2 6 1986 1988 I I I I 1986 — 2 0 I 1988 CHART 6 EURO-DOLLAR DEPOSIT RATES LONDON AVERAGES FOR WEEK ENDING WEDNESDAY IT PER ANNUM PERCENT PER AN 14 14 OVERNIGHT 3-MONTH 12 12 10 10 8 8 6 6 4 4 14 14 6-MONTH 7-DAY 12 12 10 10 8 8 6 6 4 4 14 14 1-YEAR 1-MONTH 12 12 10 — 10 8 8 6 6 I 4 1986 1988 I I I I 1986 I I IIIII II III 1988 4 CHART 7 SELECTED EURO-DOLLAR AND U. 3 . MONEY MARKET RATES DIFFERENTIAL: PLUS(+), FAVORS BORROWING IN U. S. AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER A [NT PER ANNUM 14 14 12 12 10 10 FEDERAL FUNDS 3-MONTH DASHED I r t c E U R O - D O L L A R DEPOSITS 8 8 6 6 OVERNIGHT 90-DAY CD* S E U R O - D O L L A R DEPOSITS DASHED LINE 4 4 111111111111111111111111 I 2 I I L I ! I IIIIII M III IIIII II !!I 2 2 2 DIFFERENTIAL DIFFERENTIAL 1 1 0 0 + 11 i n 1 1 1 1 1 1 1 1 1 1 1 1 1 I I I 11 1 1986 PERCENT ON D I F F E R E N T I A L S C A L E = 2 PERCENT ON RATE S C A L E 1988 I I I I I 1986 I I I I I I I I I I II 11111111111 1988 1 CHART 8 INTEREST ARBITRAGE: 3-MONTH FUNDS DIFFERENTIAL: PLUS(+), INDICATES FAVOR DOLLAR ASSETS AVERAGES FOR WEEK ENDING WEDNESDAY NT PER ANNUM PERCENT PER Ah 16 12 16 INTERBANK STERLING 12 CANADIAN FINANCE CO. PAPER, COVERED COVERED LONDON 8 8 EURO-DOLLAR DEPOSITS 4 DASHED LINE 0 I I I U. S. COMMERCIAL PAPER DASHED LINE I I I I I 4 I 0 III I I 2 DIFFERENTIAL 2 DIFFERENTIAL + + 0 0 II I I I I I I I I I 2 2 16 12 16 12 INTERBANK DM COVERED FRANKFURT SWISS INTERBANK (SF) COVERED 8 4 8 EURO-DOLLAR DEPOSITS EURO-DOLLAR DEPOSITS DASHED LINE DASHED LINE 111 0 4 i l l 11 0 2 2 DIFFERENTIAL DIFFERENTIAL + + 0 0 ./AXXyWv, 2 I I I M _L 1986 1988 1 PERCENT ON D I F F E R E N T I A L S C A L E = 2 PERCENT ON RATE S C A L E I 1986 I I 2 1988 CHART 9 LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES PERCENT PER Al ENT PER ANNUM 16 16 UNITED STATES 14 CANADA 14 12 12 10 10 8 8 I 6 I 6 10 14 UNITED KINGDOM 12 10 I I I I - JAPAN - I 4 I l l l I I I 2 8 10 SWITZERLAND 6 8 6 4 2 I I I I I I u l i 1111 I n 11 4 17 15 U. S . CORPORATE MONTHLY FRANCE 15 13 8 6 Y/V V 8 6 - 13 Aaa BONDS 11 11 9 9 7 NETHERLANDS 7 i 5 5 MONTHLY 1986 1988 i i i i i 1986 i 3 1988 CHART 10 INDUSTRIAL STOCK INDICES WEEKLY SERIES RATIO SCALE 1969=100 RATIO SCALE 1969=100 500 400 UNITED STATES UNITED KINGDOM aa/ 300 200 I I I I I iiIiiIiiIii I 650 650 550 - 450 - 350 - m/VA — J JAPAN f r - 250 I I I 150 - FRANCE — - V I I I 200 I I I 1 1 1 1 550 - 450 - 350 - 250 150 1 SWITZERLAND 250 / 200 — 150 I 11111111111 500 . - — /ysw - 1 J 1 — /*\ / — CANADA 300 - I I I 500 400 100 I I I I I — NETHERLANDS 400 400 - GERMANY 300 - 200 -jr* 100 V^v , A / 300 - - - i ill i hill i I I I ] 1986 1988 200 100 1986 1988 SERIES NAME LAST VALUE PLOTTED DATE VALUE CHART 1 . SPOT EXCHANGE SATES AMD INDICES WEEKLY AVERAGES, NOON BUYING BATES ( U . S . CENTS) GERMAN MASK 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 JUNE JUNE JUNE JUNE JUNE JUNE JUNE JUNE JUNE JURE 8 8 8 8 8 8 8 8 8 8 5 8 . 12 0 . 79408 5 1 . 75 180. 47 8 1 . 30 17. 20 6 9 . 73 2 . 77810 0 . 07817 16. 62 JUNE JUNE JUNE JUNE JUNE JUNE JUNE JUNE JUNE 8 8 8 8 8 8 8 8 8 163.50 207. 92 148. 56 72. 99 81.03 7 7 . 49 22 ( . 3 3 109. 47 44.41 8 8 8 8 8 8 8 8 8 8 8 9 1 . 13 164.98 2 0 9 . 14 141.22 6 5 . 17 73.68 69.37 212.98 101.84 38.58 67.54 8 8 8 8 8 8 8 8 -1.79 -0.95 4. 10 0 . 14 4.90 3.51 3 . 55 - 2 . 67 INDICES, MARCH 1973 BASE BATES » 100 GERMAN NASI JAPANESE IBM DUTCH GUILDER U . K . POUND CANADIAN DOLLAfi FRENCH FIANC SWISS FRANC BELGIAN FBANC I T A L I A N LIRA WEIGHTED AVERAGE EXCHANGE VALUE INDICES, MAS 1973 = 100 1G-10 COUNTRIES PLUS SWITZERLAND) U.S. DOLLAR GERMAN MARK JAPANESE YEN DUTCH GUILDER U.K. POUND CANADIAN DOLLAR FRENCH FIANC SWISS FRANC BELGIAN FRANC I T A L I A N LIRA SWEDISH KRONA JUNE JUNE JUNE JUNE JUNE JUNE JUNE JUNE JUNE JUNE JUNE CHAEiT 2 . 3-HO NTH FORWARD EXCHANGE BATES, PREMIUM OS DISCOUNT CANADIAN DOLLAR U.K. POUND GERMAN MIRK FRENCH FRANC SWISS FRANC DCTCH GUILDER JAPANESE YEN I T A L I A N LIRA JUNE JUNE JUNE JUNE JUNE JUNE JUNE JUNE SEBIES NAME CHART 3 . LAS I If ALOE PLOTTED DATE VALUE GOLD PRICE I S LONDON, AFTERNOON FIXING U.S. DOLLARS PER FINE OUNCE JUNE 8 461.04 JUNE JURE JUNE JUNE JUNE J0NE JUNE JUNE JUNE 8 8 8 8 8 8 8 8 8 7. 38 7.21 6. 88 8.92 3. 35 3.41 6.96 3.07 1.63 JUNE JUNE JUNE JUNE JUNE JUNE JUNE JUNE JUNE 8 8 8 8 8 8 8 8 8 7 . 46 3 . 54 3.81 9.61 8.71 2.60 7 . 32 4. 06 5.74 JUNE J0NE JUNE JUNE JUNE JUNE 8 8 8 8 8 8 7.21 7.-29 7. 46 7.60 7. 78 8. 19 CHART 4 . CALL HONEY RATES U.S. FEDERAL FUNDS OVERNIGHT EURO-DOLLAR DEPOSITS a. K. CANADA GERMANY JAPAN FRANCE NETHERLANDS SWITZERLAND CHART 5 . J-MONTH INTEREST RATES U.S. 90-DAY C D ' S , SECONDARY MARKET GERMAN INTERBANK LOAN JAPANESE GENS A O RATE CANADIAN FINANCE PAPER INTERBANK STERLING SliiSS INTERBANK LOAN PREACH INTERBANK BATE NETHERLANDS INTERBANK RATE WEIGHTED AVERAGE FOREIGN INTEREST RATE (6-10 COUNTRIES PLUS SWITZERLAND) CHART 6 . EURO-DOLLAR DEPOSIT RATES: LONDON OVERNIGHT 7-DAY 1-MO NTH 3-MONTH 6-MONTH 1-YEAR CHART 7 . SELECTED EURO-DOLLAR AND U . S . MONEY MARKET RATES OVERNIGHT EURO-DOLLAR DEPOSITS U . S . FEDERAL FUNDS DIFFERENTIAL JUNE JUNE JUNE 8 8 8 7.21 7.38 - 0 . 17 3-MONTH EURO-DOLLAR DEPOSIT RATE U.S. 90—DAY CD'S* SECONDARY MARKET DIFFERENTIAL JUNE JUNE JUNE 8 8 8 7.60 7. 46 0 . 14 SERIES NAME L A S I VALUE PLOTTED DATE VALUE CHART 8 . INTEREST ARBITRAGE, 3-MONTH FUNDS EURO-DOLLAR DEPOSIT INTERBANK STERLING (LONDON), COVERED DIFFERENTIAL JUNE JUNE JUNE 8 a 8 7.60 7.74 - 0 . 14 U.S. COMMERCIAL PAPER CANADIAN FINANCE PAPER, COVERED DIFFERENTIAL JUNE JUNE JUNE 8 8 8 7.45 7.78 -0.33 EURO-DOLLAR DEPOSIT INTERBANK DM (FRANK?ORT), COVERED DIFFERENTIAL JUNE JUNE JUNE 8 8 8 7.60 7.67 -0.07 EURO-DOLLAR DEPOSIT SWISS INTERBANK, COVERED DIFFERENTIAL JUNE JUNE JUNE 8 8 8 7.60 7.53 0.07 CHAHT 9 . LONG TERM GOVEHHENT BOND YIELDS UNITED STATES GERMANY JAPAN SWITZERLAND CANADA FRANCE NETHERLANDS (MONTHLY) UNITED KINGDOM U.S. week ending: JUNE 3 JUNE 3 JUNE 3 MAX 27 JUNE JUNE APRIL JUNE 3 3 3 9.07 6 . 09 4,23 4.10 10.24 9.38 6.03 8.99 CORPORATE AAA BONDS CHART 10. 9.33 STOCK INDICES UNITED STATES UNITED KINGDOH CANADA GERMANY SWITZERLAND NETHERLANDS FRANCE JAPAN SAX JUNE JUNE JUNE JUNE JUNE JUNE JUNE JUNE 8 8 8 8 8 8 8 8 2 9 0 . Q4 3 1 9 . 93 3 3 3 . 44 197. 74 176. 77 2 4 7 . 30 3 4 2 . 52 5 7 8 . 72 MOk FEDERAL RESERVE statistical release I *" : * • Hwll «' JUNE 10, 1988 H.10(512) FOREIGN EXCHANGE RATES FOR THE WEEK ENDING JUNE 10, 1968 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: MONETARY UNIT COUNTRY "AUSTRALIA AUSTRIA BELGIUM CANADA CHINA,P.R. DENMARK FINLAND FRANCE GERMANY GREECE HONG KONG INDIA *1 RE LAND ITALY JAPAN MALAYSIA NETHERLANDS «NEN ZEALAND NORWAY PORTUGAL SINGAPORE SOUTH AFRICA SOUTH KOREA SPAIN SRI LAMIA 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 fflNUtA UP ICIMIIEU IIKIWBC JUNE 6 1 CURRENCY UNITS PER DOLLAR) JUNE JUNE 8 JUNE 7 JUNE 10 9 79.50 12.095 35.980 1.2325 3.7314 6.5500 4.0930 5.8060 1.7170 137.950 7.8175 13.6000 155.70 1277.00 126.18 2.5845 1.9285 69.230 6.2820 140.850 2.0225 2.2360 735.60 113.600 31.065 6.0160 1.4325 28.670 25.250 180.17 79.77 12.068 35.880 1.2307 3.7314 6.5400 4.0800 5.7940 1.7154 137.600 7.8165 13.6000 156.85 1275.00 125.72 2.5800 1.9260 69.530 6.2600 140.550 2.0185 2.2360 734.70 113.250 31.063 5.9925 1.4290 28.670 25.220 181.12 80.55 12.085 35.920 1.2228 3.7314 6.5400 4.0800 5.8020 1.7185 137.800 7.8118 13.5800 155.75 1276.00 125.25 2.5780 1.9295 69.800 6.2600 140.500 2.0175 2.2360 733.20 113.450 31.063 5.9925 1.4325 28.670 25.200 181.71 80.63 12.110 36.000 1.2214 3.7314 6.5515 4.0825 5.8110 1.7200 138.000 7.8120 13.5900 155.50 1278.50 125.20 2.5740 1.9315 69.810 6.2715 140.900 2.0215 2.2420 732.60 113.730 31.068 6.0040 1.4357 28.670 25.210 181.45 80.80 12.102 35.940 1.2195 3.7314 6.5450 4.0900 5.8090 1.7195 137.750 7.8120 13.6200 155.50 1279.00 124.92 2.5745 1.9310 70.070 6.2975 140.700 2.0117 2.2320 731.90 113.650 31.068 6.0075 1.4373 28.670 25.180 181.70 91.10 90.88 90.83 90.92 90.85 u w i w r n «• — — COUNTRIES. MARCH 1973 * 100. HEIGHTS ARE 1972-76 GLOBAL TRADE OF EACH OF THE 10 COMTRIES. 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. ttVALUE IS U.S. CENTS
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