Full text of H.13 Selected Interest and Exchange Rates, Weekly Series of Charts : June 14, 1993

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(516/517)

Selected Interest &
Exchange Rates
Weekly Series of Charts

June 14,1993

DIVISION OF
INTERNATIONAL F I N A N C E

Prepared by the

BOARD OF GOVERNORS

FINANCIAL MARKETS

FEDERAL RESERVE SYSTEM

SECTION

Washington, DlC. 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-Mi TH INTEREST RAlES
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




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

SCALE
41973=100

RATIO S
MARCH 197

FOREIGN CURRENCY
PRICE OF U.S. DOLLAR

T

BELGIAN FRANC

1(

S
6

I

7
27

I

I

I

I

I

I

I

•

•

.

|

I

I

I

25

—

JAPANESE YEN

23

21
SWISS FRANC

191

17(
10(

1

'

'

9(

1

I

1

'

1

I

1

1

»

|

|

|

U.K. POUND

!

8C

1

7C
60

CANADIAN DOLLAR

'

50

200

'

'

I

I

I

I

I

I

e

l

|

I

I

I

I

180

1

160

1

140

1

120

100

DUTCH GUILDER

I '

I

I

I

I

I

I

GERMAN MARK

I

I

•

|

|

1 |

110

100

'

1

1

I

1

'

1

1

1

1

FRENCH FRANC

90

80
70

ITALIAN LIRA
60

c
2

I

I

1 I

1990



I

I

I

I

I
1992

I

I

I

I

|
1990

1992

'

I

1
I

I

I

1i

CHART 2

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

2

PERCENT PER ANNUM
2

(

GERMAN MARK

U.K. POUND

—

—

f

—

1

1

1

I

1

1

1

1

1

I

1

1

I

1

i

CANADIAN DOLLAR

i

i

l

i

—

i

i

I

i

1 1

l

i

i

i

i

i

1

i

i

1

i

i

i

JAPANESE YEN

. v
'

•

•

I

'

•

I

I

» '

I

I

I

I

I

i

i

i

i

i

i

—

SWISS FRANC

DUTCH GUILDER

V y*

—

2

—

—

—

—

—

—

i

i

i

1

i

i

i

1

i

i

i

1

i

1

,

i

1

i

i

1

i

i

1

1

1

1

1

1

f

1

1

—

4

—

6

1

8

2
+

ITALIAN LIRA

FRENCH FRANC
—

0

/V

—

2
4

—

6

Y

mmmm

1990




1
1992

1
1990

1

1

1

1 •

1 1 1 1 1 1 1 1
1992

8

=
10
12

14

16

18

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

420

12.5 Kg BARS
AFTERNOON FIXING PRICE

400

—

400

380 —

380

360 —

360

340 —

320

340

J

1
1990




1

1

1

I
1991

I

I

,
1992

1993

320

CHART4

CALL MONEY RATES
WEEKLY SERIES
PERCENT PER ANNUM

PERCENT PER ANNUM

10

——i 16

FRANCE

U.S. FEDERAL FUNDS

—

J

JAPAN

NETHERLANDS
GERMANY

UNITED KINGDOM

CANADA

SWITZERLAND

•

1

1

)

1990




1

1

1

'

•

1

i

1992

I

•

i

i

'

'
1990

1

I

1

1

1

'

1

1

I

1992

I

'

'

•

CHART 5

3-MONTH INTEREST RATES
WEEKLY .SERIES
PERCENT PER ANNUM

PERCENT PER ANNUM
WEIGHTED AVERAGE
FOREIGN RATE

CANADIAN FINANCE PAPER
8

6

U.S. CD'S

4
3

2
16

13

10
U.K. INTERBANK STERLING

NETHERLANDS INTERBANK RATE

7

4
9

7
FRENCH INTERBANK RATE

5

JAPANESE CD RATE

3
10

8

4

GERMAN INTERBANK RATE

SWISS INTERBANK

6

1990




1992

1990

1992

7

CHART 6

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

PERCENT PER ANNUM
10

10
3-MONTH

OVERNGHT

7-DAY

6-MONTH

1-YEAR

1-MONTH

•

1

1

l

1990



1

1

»

1

«

1

»
1992

I

1

1

1

'

'
1990

'

I

'

'

'

I

'

'
1992

I

I

I

I

'

•

f

•

•

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

10

10

OVERNIGHT
8

—

6

—

3-MONTH

EURO-DOLLAR DEPOSITS

EURO-DOLLAR DEPOSITS

FEDERAL FUNDS

90-DAY CD'S

DASHED LINE

DASHED LINE

4 —

J—i—i—I

i

i

i

I

i

i

i

I

i

i

J—l—I—I—l

I

DIFFERENTIAL

1990




I

y\

.Y*.,

i

i

i

i

i

l

l

I

I

I

I

i

i

i

DIFFERENTIAL

w - w y f

j — i — i — i

l

i

1992

i

i

i

i

i

J—I—I
1990

I

I

I

I

I

A

I
1992

I

I

I

CHART 8

INTEREST ARBITRAGE: 3-MONTH FUNDS
DIFFERENTIAL: PLUS(+), INDICATES FAVOR DOLLAR ASSETS
AVERAGES FOR WEEK ENDING WEDNESDAY
PERCENT PER ANNUM
10

PERCENT PER ANNUM

10

CANADIAN FINANCE
CO. PAPER, COVERED

INTERBANK STERLING

COVERED LONDON

U.S. COMMERCIAL PAPER

EURO-DOLLAR DEPOSITS

DASHED LINE

DASHED LINE

1

1

1

1 •

1

1

I

1

'

1

» I

1

i

»

i

i

'

I

» i

i

I

i

I

i

i

i

I

i

i

«

i

i

I

i

INTERBANK DM

i

I

i

i

i

I

I

1990




I

I

I

I

i

i

I

i

i

i

I

i

i

i

i

l

i

i

i

l

i

i

i

DASHED LINE

i

I

i

i

i

'

i

DIFFERENTIAL

I

i

EURO-DOLLAR DEPOSITS

EURO-DOLLAR DEPOSITS

DASHED LINE

i

I

SWISS INTERBANK (SF) COVERED

COVERED FRANKFURT

i

« i

DIFFERENTIAL

DIFFERENTIAL

i

i

i

I

i

'

i

I

i

I

'

i

i

I

'

i

i

I

I

I

'

•

I

DIFFERENTIAL

I

I

I
1992

I

I

I

I

I

'

I
1990

I

I

I

I

I

1992

2
10

CHART 9

LONG-TERM GOVERNMENT BOND YIELDS
WEEKLY SERIES
PERCENT PER ANNUM
10

PERCENT PER ANNUM

14

UNITED KINGDOM

CANADA

FRANCE

SWITZERLAND

JAPAN

NETHERLANDS

•

»

1

L

1990




1

GERMANY

»

»

'

•

1

1992

1

»

1

'

»

» '
1990

1

1

1

1

1

1

'

1

'

1992

I

I

I

I

CHART 10

STOCK INDICES
WEEKLY SERIES
RATIO SCALE
1986=100

RATIO SCALE
1986=100

200
UNITED STATES

SWITZERLAND

JAPAN

•

•

1

ERMANY

•

•

•

I

•

•

•

i

•

» •

i

•

•

»

'

1

1

•

i

»

1

'

'

I

'

'

» i

'

i

•

I

'

I

'

'

I

'

'

'

NETHERLANDS

'




I

FRANCE

CANADA

1990

200

UNITED KINGDOM

1992

'
1990

1

I

1

'

1

»

1

1

I

1992

I

I

» I

12-May-93 19-May-93 26-May-93 2-Jun-93
Chart 1.

9-Jun-93

Spot Exchange Rates and Indices

Noon buying rates (U.S. cents, weekly averages)
Belgian franc
Canadian d o l l a r
French franc
German mark
Italian lira
Japanese yen
Netherlands g u i l d e r
Swiss franc
U.K. pound

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

3.0463
78.772
18.555
62.600
0.06805
0.93050
55.799
70.097
155.18

3.0001
78.196
18.313
61.679
0.06768
0.93398
54.976
68.737
152.23

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

120 .04
78 .51
83,.61
176,.10
39..06
243..64
160..19
225..51
62.,76

118 .22
77,.94
82,.52
173..51
38..85
244..55
157..83
221.,13
61.,57

109.72
71.28
73.81
175.65
32.86
242.77
149.77
55.08
207.53
54.68
90.76

110.59
70.12
74.30
177.24
32.72
245.79
150.75
55.22
211.00
54.30
89.49

109.82
70.22
73.94
175.93
32.83
249.23
149.75
55.25
208.63
53.67
90.48

-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

-1.59
-4.26
-4.45
-7.47
0.06
-3.68
-1.96
-2.61

-1.61
-4.20
-4.26
-7.18
0.14
-3.55
-1.87
-2.58

356.27

370.83

375.66

374.64

374.36

2.90
2.85
4.45
8.14
7.65
3.15
7.40
4.88
5.33

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

3.09
2.99
4.63
7.94
7.97
3.15
7.05
4.94
5.47

2.96
2.99
4.20
7.85
7.80
3.12
7.01
5.13
5.81

Indices, March 1973 base rates = 100
Belgian franc
Canadian d o l l a r
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 d o l l a r
French franc
German mark
Italian lira
Japanese yen
Netherlands guilder
Swedish krona
Swiss franc
U.K. pound
U.S. d o l l a r
Chart 2.

Call Money Rates

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




-1.97
-4.64
-4.38
-7.67
-0.07
-4.07
-1.95
-2.82

Gold Price i n London, Afternoon Fixing

U.S. d o l l a r s per f i n e ounce
Chart 4.

110.48
70.79
74.28
177.14
32.93
239.56
150.72
54.63
207.53
54.27
90.78

3-Month Forward Exchange Rates, Premium or Discount

Canadian d o l l a r
French franc
German mark
Italian lira
Japanese yen
Netherlands guilder
Swiss franc
U.K. pound
Chart 3.

111.05
70.35
74.79
178.31
32.78
238.39
151.52
54.25
209.35
54.54
90.05

12-May-93 19-May-93 26-May-93 2-Jun-93
Chart 5.

3-Month I n t e r e s t 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 s t e r l i n g
Weighted average f o r e i g n i n t e r e s t rate
(G-10 Countries)
Chart 6.

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

3.19
5.05
7.52
7.52
3.26
6.79
5.05
5.83
6.32

3.24
5.05
7.40
7.51
3.25
6.71
5.04
5.84
6.29

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

2.99
3.01
3.11
3.23
3.35
3.71

2.99
3.00
3.11
3.23
3.38
3.75

Euro-Dollar Deposit Rates

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

9 Jun-93

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

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

2.85
2.90
-0.05

2.95
3.01
-0.06

2.94
3.07
-0.13

2.99
3.09
-0.10

2.99
2.96
0.02

3.06
3.06
0.01

3.11
3.11
0.00

3.16
3.14
0.03

3.23
3.19
0.04

3.23
3.24
-0.02

3.06
3.01
0.05

3.11
3.05
0.06

3.16
3.13
0.03

3.23
3.18
0.05

3.23
3.22
0.01

3.09
3.28
-0.19

3.14
3.40
-0.25

3.17
3.55
-0.38

3.21
3.44
-0.23

3.27
3.42
-0.15

Euro-dollar deposit
Interbank DM ( F r a n k f u r t ) , covered
Di f f e r e n t i a l

3.06
2.98
0.08

3.11
2.97
0.14

3.16
2.98
0.18

3.23
2.98
0.24

3.23
3.17
0.06

Euro-dollar deposit
Swiss interbank, covered
Differential

3.06
2.93
0.13

3.11
2.95
0.16

3.16
3.03
0.13

3.23
3.07
0.16

3.23
3.15
0.08

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

7.51
7.22
6.86
4.67
4.71
6.70
8.04
6.10

7.61
7.16
6.87
4.69
4.72
6.74
8.01
6.07

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

128.63
141.44
95.40
124.42
117.70
175.94
173.03
183.98

128.72
143.38
97.94
125.15
120.47
180.32
173.83
180.64

3-month Euro-dollar deposit
U.S. 90-day CD's, secondary market
Differential
Chart 8.

Interest A r b i t r a g e , 3-Month Funds

Euro-dollar deposit
Interbank s t e r l i n g (London), covered
Differential
U.S. commercial paper
Canadian finance paper, covered
Differential

Chart 9.
10-year m a t u r i t y , where a v a i l a b l e
Canada
France
Germany
Japan
Switzerland
Netherlands
United Kingdom
United States
Chart 10.

)nd Yields

Stock Indices (Wednesday f i g u r e s )

Canada
France
Germany
Japan
Netherlands
Switzerland
United Kingdom
United States

Indices ( i n 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 Composite



FEDERAL RESERVE statistical release
H.10(512)

June 14, 1993

FOREIGN EXCHANGE RATES
FOR THE WEEK ENDING

JUNE 11, 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

MONETARY
UNIT

^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
XUNITED KINGDOM

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

MEMO:
^ U N I T E D STATES

DOLLAR

Jun. 7

(CURRENCY UNITS PER 1
DOLLAR)
Jun. 8
Jun. 9
Jun. 10

Jun. 11

0.6733
11.405
33.320
1.2785
5.7243
6.2050
1.2045
5.4830
5.4580
1.6205
221.30
7.7285
31.700
1.5034
1480.50
107.36
2.5558
1.8180
0.5363
6.8630
154.04
1.6090
3.1860
807.00
124.50
48.100
7.2635
1.4555
26.154
25.180
1.5225

0.6683
11.432
33.390
1.2830
5.7243
6.2190
1.2032
5.4800
5.4705
1.6245
220.70
7.7275
31.700
1.5000
1475.25
106.30
2.5553
1.8222
0.5339
6.8775
154.20
1.6085
3.1900
806.40
124.25
N.A.
7.2450
1.4575
N.A.
25.165
1.5175

0.6745
11.528
33.670
1.2806
5.7243
6.2720
1.1935
5.5240
5.5100
1.6380
222.90
7.7310
31.700
1.4876
1486.50
106.55
2.5568
1.8371
0.5356
6.9300
154.80
1.6110
3.1990
806.10
125.05
48.050
7.3070
1.4742
26.169
25.155
1.5150

0.6763
11.495
33.600
1.2791
5.7243
6.2380
1.1964
5.5050
5.4965
1.6340
222.80
7.7290
31.700
1.4920
1489.00
106.16
2.5575
1.8330
0.5371
6.9140
154.90
1.6089
3.1930
805.00
125.38
48.000
7.2560
1.4682
26.166
25.175
1.5190

0.6795
11.419
33.360
1.2800
5.7243
6.2020
1.2052
5.4400
5.4550
1.6220
221.40
7.7287
31.700
1.5040
1479.00
106.10
2.5750
1.8189
0.5420
6.8610
154.20
1.6100
3.1880
804.50
124.35
N.A.
7.1870
1.4500
N.A.
25.165
1.5245

90.50

90.51

91.03

90.81

90.31

MVALUE IS U.S. DOLLARS
**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.