Full text of H.13 Selected Interest and Exchange Rates, Weekly Series of Charts : June 15, 1992

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Selected Interest &
Exchange Rates
Weekly Series of Charts

June 15,1992

DIVISION OF
INTERNATIONAL FINANCE

Prepared by the
FINANCIAL MARKETS
SECTION

BOARD OF GOVERNORS
FEDERAL RESERVE SYSTEM
Washington, DiC. 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 ot
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
140

RATIO SCALE
MARCH 1973=100
140
130
120
110

FOREIGN CURRENCY
PRICE OF U.S. DOLLAR

100
90

BELGIAN FRANC

80
1

1

1

I

•

« •

i

•

1

•

i

1

1

1

•

'

'

I

'

'

'

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1

1

•

'

1

•

•

70
280
260

SWISS FRANC

240

JAPANESE YEN

220
200
180
160

i

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•

•

•

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140
100
90

UNITED KINGDOM

80
70
CANADIAN DOLLAR
60
1

1

l

1

»

1

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1

1

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l

'

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50
200

:

DUTCH GUILDER

_ A / v

I

GERMAN MARK

—

180
160
140
120

•

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•

•

•

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1 I

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» '

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100
60

—

FRENCH FRANC

55

ITALIAN LIRA

50
45
40
35

•

i




l

'

'
1990

•

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•

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•

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'
1992

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1990

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1992

I

30

CHART 2

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

PERCENT PER ANNL

4
CANADIAN DOLLAR

U.K. POUND

+

0

4

8

12
8

i

i

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I

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i

GERMAN MARK

» » i

I

> '

i

I

i

i

i

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i

JAPANESE YEN

4
+

0

4

8
8

1

'

» I

•

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'

1

I

1

1

I

1

1

1

SWISS FRANC

i

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I

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i

DUTCH GUILDER

4

—

+

0

4

8
4

» •

1

l

» •

1

'

»

1

i

I

'

'

i

FRENCH FRANC

1

I

I

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I

1

I

1

1

1

1

1

1

1 1
1990

1

1

1

1

1

1

1 1
1992

I

1

ITALIAN LIRA

+

0

4

8

12

»

1

» '




1

1

1990

1

I

•

•

» I

i

i
1992

»

1

1

1

1

1

CHART 3

PRICE OF GOLD IN LONDON
AVERAGES FOR WEEK ENDING W E D N E S D A Y

• LLARIS PER FINE OUNCE

U.S. DOLLARS PER FINE OUNCE

420

12.5 Kg BARS
AFTERNOON FIXING PRICE

400

400

380

380

360

360

340

320
1989




1990

1991

320
1992

CHART 4

CALL MONEY RATES
WEEKLY SERIES
CENT PER ANNUM

PERCENT PER ANI

12

12
FRANCE

10

10
U.S. FEDERAL FUNDS

8

8

JAPAN

6

6

4

2
12

4

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10

2
12

10
GERMANY

8

8

NETHERLANDS

6

4
16

i

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l

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6

i

i

14

12

4
16

14

12

UNITED KINGDOM
CANADA

10

10

8

8

6

6
SWITZERLAND

4




i
1990

1992

i

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'

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1990

'

I

i

'

'

l

'

i
1992

i

4

CHART 5

3-MONTH INTEREST RATES
WEEKLY SERIES
PERCENT PER ANNUM
15

PERCENT PER ANNUM

12

WEIGHTED AVERAGE
FOREIGN RATE
13

11

—

U.S. CD'S

9

CANADIAN FINANCE PAPER

i

i

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» •

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12

10

NETHERLANDS INTERBANK RATE

U.K. INTERBANK STERLING

I

I

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I
12

10

FRENCH INTERBANK RATE

JAPANESE CD RATE

3
10

•

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6
11

SWISS INTERBANK

i

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I

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1990

i

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i

GERMAN INTERBANK RATE

i

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1992

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» '
1990

I

1

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» I

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1

1992

«

CHART 6

EURO-DOLLAR DEPOSIT RATES LONDON
AVERAGES FOR WEEK ENDING WEDNESDAY
PERCENT PER ANNUM
12

PERCENT PER ANNUM
12

OVERNIGHT

I

I

I

I

I

I

I

I

7-DAY

10

2
12

I

3-MONTH

• '

» I i i

1

1

» '




i

1

1990

i i

i I i i i

I i i i

6-MONTH

1

i

1

1

i

l i i i

1-MONTH

10

I

10

1

I '

10

i i ' l ••' l i ' i l ' i '
1-YEAR

» '

I i • i
1992

2
12

10

i
1990

2
12

I i i i
1992

CHART 7

SELECTED EURO-DOLLAR AND U.S. MONEY MARKET RATES
DIFFERENTIAL: PLUS(+), FAVORS BORROWING IN U.S.
AVERAGES FOR WEEK ENDING WEDNESDAY
;ENT PER ANNUM

PERCENT PER ANN

12

10

vv.

OVERNIGHT
EURO-DOLLAR DEPOSITS

3-MONTH
EURO-DOLLAR DEPOSITS

8

6

FEDERAL FUNDS
DASHED LINE

90-DAY CD'S
DASHED LINE

4

2
2

J

I

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l

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J

I

DIFFERENTIAL

I

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L_l

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I

L

DIFFERENTIAL

1

+

0

1




J
1990

1992

I

I

I

I

1990

1992

CHART 8

INTEREST ARBITRAGE: 3-MONTH FUNDS
DIFFERENTIAL: PLUS(+), INDICATES FAVOR DOLLAR ASSETS
AVERAGES FOR WEEK ENDING WEDNESDAY
PERCENT PER ANNUM
12

PERCENT PER ANNUM
12

CANADIAN FINANCE
PAPER, COVERED

INTERBANK STERLING
COVERED LONDON

— 8

U.S. COMMERCIAL PAPER
DASHED LINE

EURO-DOLLAR DEPOSITS
DASHED LINE

i

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I i i

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DIFFERENTIAL

DIFFERENTIAL

I

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•

'

'

I

'

'

i

i

12
INTERBANK DM
COVERED FRANKFURT

SWISS INTERBANK (SF) COVERED

EURO-DOLLAR DEPOSITS
DASHED LINE

EURO-DOLLAR DEPOSITS
DASHED LINE

i

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DIFFERENTIAL

I

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1990

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DIFFERENTIAL

I

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1992

I

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1990

I

1992

CHART 9

LONG-TERM GOVERNMENT BOND YIELDS
WEEKLY SERIES
3CENT PER ANNUM

PERCENT PER ANN!

10
UNITED STATES

UNITED
KINGDOM

9

8

7

6
12
CANADA

FRANCE

SWITZERLAND

JAPAN

11
10
9
8
7
8

7

6

5

I

4
10
NETHERLANDS

'

I

I

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I

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I

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i

« '

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i

'

GERMANY

9

8

7

6

1

1

'




I

•

1

1990

1

i

•

'

i

I

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•
1992

»

i

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i

1990

1992

CHART 10

STOCK INDICES
WEEKLY SERIES
RATIO SCALE
1986=100

RATIO SCALE
1986=100

200

200
UNITED STATES

180

UNITED KINGDOM

180

160

160

140

140

120

120

J_L

100

•

i

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i

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•

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l

i

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240
200

100
150

—

135

GERMANY
JAPAN

120

160

105

120
90

80

i

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I

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l

'

'

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l

i

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i

i

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I

180
165

SWITZERLAND

FRANCE

75
180
165

150

150

135

135

120

120

105

105

90
150

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135

90
150
135

CANADA

NETHERLANDS

120

120

105

105

90

75

90

i

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1990

'

I

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1992

I

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1990

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1992

I

75

SERIES
Chart 1.

13-May - 9 2 20-May - 9 2 27 - M a y - 9 2 3 - J u n - 9 2

Spot Exchange Rates and I n d i c e s

Noon b u y i n g r a t e s

(U.S.

cents,

weekly averages)

Belgian franc
Canadian d o l l a r
French f r a n c
German mark
Italian lira
Japanese yen
Netherlands g u i l d e r
Swiss f r a n c
U . K . pound
Indices,

2.9747
8 3 . 129
18. 214
6 1 . 212
0.08133
0.75746
5 4 . 375
6 6 . 075
180 .05

M a r c h 1973 b a s e r a t e s

Weighted average exchange v a l u e i n d i c e s ,
Belgian franc
Canadian d o l l a r
French f r a n c
German mark
Italian lira
J a p a n e s e yen
Netherlands g u i l d e r
Swedish krona
Swiss f r a n c
U . K . pound
U.S. d o l l a r

Chart
U.S.

3.

Chart 4.

Call

3.0514
83.716
18.649
62.796
0.08301
0.78522
55.743
68.759
183.21

118.32
83.14
82.82
173.78
47.08
201.83
157.49
216.75
73.41

118.91
82.82
83.24
174.62
47.27
204.52
158.19
219.57
73.62

120.24
83.44
84.04
176.65
47.65
205.60
160.03
221.21
74.10

107.45
73.56
72.48
171.78
39.45
196.23
146.01
67.83
199.90
63.65
88 . 04

107.55
72.94
72.56
171.94
39.45
198.26
146.08
67.83
201.75
63.56
87.59

108.03
72.97
72.76
172.89
39.49
197.87
146.78
68.03
201.83
63.53
86.81

- 2 .47
—6 .10
- 5 .95
- 8 .28
- 0 .85
- 5 .77
- 5 .25
- 6 . 08

-2.26
-6.02
-5.74
-8.11
-0.76
-5.59
-5.15
-5.92

-2.08
-6.05
-5.76
-8.22
-0.64
-5.59
-5.34
-5.92

-2.00
-6.16
-5.81
-8.87
-0.66
-5.62
-5.39
-5.88

335 . 9 1

338 . 2 5

337.85

338.03

338.27

3 .84
3 .74
6 .33
9 .78
9 .62
4 .67
9 .43
7 .88
10 .00

3 .89
3 .84
6 .23
9 .76
9 .56
4 .64
9 .35
8 .38
9 .58

3.80
3.85
6.18
9.85
9.46
4.66
9.39
8.88
9.50

3.85
3.85
6.08
9.84
9.64
4.68
9.55
8.88
9.78

3.69
3.74
5.88
9.91
9.60
4.69
9.38
8.88
9.20

Mar.

London,

ounce

119
83
83
175
47
202
159
218
73

.43
.13
.70
.51
.58
.06
.04
.58
.99

1973=100
107
73
72
172
39
195
146
68
200
63
87

.84
.08
.84
.59
.65
. 17
.61
.08
.41
.77
.37

Premium o r D i s c o u n t
-2
-6
-5
-8
-0
-5
-5
-6

Gold P r i c e i n
per f i n e

3.0176
83.093
18.472
62.073
0.08235
0.78110
55.105
68.252
182.01

107 .27
73 . 9 1
72 .37
171 .50
39 .43
194 .10
145 .84
67 . 7 1
197 .52
63 .63
88 .92

3 - M o n t h F o r w a r d Exchange R a t e s ,

dollars

3.0027
83.414
18.380
61.774
0.08202
0.77082
54.859
67.372
181.51

117 .22
82 .85
82 .07
172 .19
46 .69
198 .33
156 .10
212 .57
72 .83

Canadian d o l l a r
French f r a n c
German mark
Italian lira
J a p a n e s e yen
Netherlands g u i l d e r
Swiss f r a n c
U . K . pound

3.0310
8 3 . 403
1 8 . 574
6 2 . 390
0.08289
0.77170
5 5 . 400
6 7 . 942
182 . 9 3

= 100

Belgian franc
Canadian d o l l a r
French f r a n c
German mark
Italian lira
J a p a n e s e yen
Netherlands g u i l d e r
Swiss f r a n c
U . K . pound

Chart 2.

10-Jun-92

.62
.07
.97
.15
.82
.75
.07
.15

Afternoon Fixing

Money R a t e s

U.S. f e d e r a l f u n d s
Overnight E u r o - d o l l a r
Canada
France
Germany
Japan
Netherlands
Switzerland
U n i t e d Kingdom




deposits

SERIES
13-May-92 20-May-92 27-May-92 3 - J u n - 9 2
Chart 5.

3-Month I n t e r e s t

Rates

U.S. 90-day C D ' s , s e c o n d a r y market
Canadian f i n a n c e paper
French i n t e r b a n k r a t e
German i n t e r b a n k r a t e
J a p a n e s e CD r a t e
Netherlands interbank rate
Swiss i n t e r b a n k r a t e
U.K. i n t e r b a n k 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 r a t e
(G-1Q C o u n t r i e s )
Chart 6.

S e l e c t e d E u r o - d o l l a r & U.S.

Overnight Euro-dollar
U.S. f e d e r a l f u n d s
Di f f e r e n t i a 1

deposits

Interest

Arbitrage,

Euro-dollar deposit
Interbank s t e r l i n g (London),
Differentia1
U.S. commercial paper
Canadian f i n a n c e paper,
Differential

10.

3 .88
6 .20
9 .99
9 .64
4 .67
9 .47
9 .13
9 .86
8 .72

3.74
3.69
3.69
3.79
3.94
4.41

3.84
3.78
3.73
3.78
3.91
4.36

3 .85
3 .81
3 .81
3 .88
4 .01
4 .50

3 .85
3 .86
3 .88
3 .94
4 .09
4 .56

3 .74
3 .83
3 .84
3 .89
4 .03
4 .53

3 .85
3 .80
0 . 05

3..85
3..85
0..00

3..74
3..69
0 ..04

3.79
3.79
-0.01

3.78
3.76
0.02

3 .88
3 .85
0 .03

3. 94
3..91
0 ., 03

3,.89
3. 88
0. 00

3.79
3.74
0. 04

3.78
3.72
0 . 05

3 .88
3 .81
0 ..07

3. 94
3. 88
0 . 06

3. 89
3. 83
0 . 05

3.85
4.05
-0.20

3.83
4.10
-0.27

3..91
4.,14
- 0 . 24

3 . 96
4 . 19
- 0 . 23

3. 94
4 . 17
- 0 . 23

3.79
3.57
0.22

3.78
3.64
0.14

3 . 88
3 . 81
0 . 07

3 . 94
3 . 76
0. 18

3 . 89
3 . 68
0 . 20

3.79
3.47
0.31

3.78
3.46
0.32

3 . 88
3 . 62
0 , 26

3 . 94
3 . 63
0 . 30

3. 89
3 . 62
0 . 27

8 .60
8 .57
7 .97
5 .67
6 .56
8 .32
9 .13
7..40

8 .48
8 .54
7 ..96
5 .58
6 ..69
8 .33
9 ,. 04
7 ,.27

8.46
8.52
7.94
5.62
6.83
8.29
8.96
7.41

8.45
8.55
7.95
5.62
6.87
8.31
8.96
7.35

8.36
8.72
7.95
5.60
6.86
8.32
9.15
7.33

113 .44
152 .71
105 .81
105 .73
115..37
154. 63
165..73
168.,67

112 .68
150 .73
107 ..37
105 .45
114..77
152.. 9 1
166 ,. 6 1
168 ..30

112 .73
151 . 04
107 .59
102 .28
116 ..73
152..79
164,.51
166 <.99

113 .55
150 .46
107 .62
103 .32
116 ,.40
152..89
162..20
168 . 09

112 .84
147 .62
106 ,.54
101 ..87
116 ..73
152..81
159..61
164..93

3 - M o n t h Funds
covered

covered

Long Term G o v e r n m e n t B e l l w e t h e r Bond Y i e l d s
1 0 - y e a r m a t u r i t y , where a v a i l a b l e

Canada
France
Germany
Japan
Switzerland
Netherlands
U n i t e d Kingdom
United States
Chart

3 .91
6 .30
9 .88
9 .66
4 .70
9 .45
9 .09
9 .95
8 .70

3.84
3.89
-0.05

Euro-dollar deposit
Swiss i n t e r b a n k , covered
Di f f e r e n t i a 1
9.

3 .85
6 .44
9 .81
9 .69
4 .72
9 .37
8 .88
9 .88
8 .69

3.74
3.84
-0.10

covered

Euro-dollar deposit
I n t e r b a n k DM ( F r a n k f u r t ) ,
Differential

Chart

3.76
6.61
9.79
9.73
4.72
9.44
8.8 3
9.95
8.73

Mone> r M a r k e t R a t e s

3-month E u r o - d o l l a r deposit
U.S. 90-day CD's, secondary market
Differential
Chart 8.

3.79
6.71
9.80
9.69
4.72
9.44
8.65
10.05
8.74

E u r o - D o l l a r D e p o s i t Rates

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

10-Jun-92

Stock

Canada
France
Germany
Japan
Netherlands
Switzerland
U n i t e d Kingdom
United States

Indices

(Wednesday f i g u r e s )

I n d i c e s ( i n o r d e r , rebased t o 1986-100) a r e Toronto Composite,
Tokyo SE ( T o p i x ) , CBS A l l - G e n e r a l , S w i s s Bank I n d e x , F i n a n c i a l



CAC G e n e r a l , FAZ A k t i e n ,
T i m e s O r d i n a r y , NYSE C o m p o s i t e

•MSSSv-

FEDERAL RESERVE statistical release
June 12, 1992

H.101512)

FOREIGN EXCHANGE RATES
FOR THE WEEK ENDING

JUNE 1 2 , 1992

The Board of Governors of the Federal Reserve System Is advised that the Federal Reserve Bank ot New York has certified
for customs purposes the following noon buying rates in New York City tor cable transfers payable in foreign currencies:

COUNTRY

MONETARY
UNIT

DOLLAR
•AUSTRALIA
SCHILLING
AUSTRIA
FRANC
BELGIUM
DOLLAR
CANADA
YUAN
CHINA,P.St.
KtONE
DENMARK
•EURO COMUNITY ECU
MARKKA
FINLAND
F1ANC
FRANCE
D. MARK
GERMANY
DRACHMA
GREECE
DOLLAR
HONG KONG
RJPEE
INDIA
POUND
•IRELAND
LIRA
ITALY
YEN
JAPAN
RINGGIT
MALAYSIA
WILDER
NETHERLANDS
DOLLAR
«NEM ZEALAND
KIONE
NORWAY
ESCUDO
PORTUGAL
DOLLAR
SINGAPORE
RAND
SOUTH AFRICA
WON
SOUTH KOREA
PESETA
SPAIN
RUPEE
SRI LANKA
KHONA
SWEDEN
FRANC
SWITZERLAND
DOLLAR
TAIWAN
BAHT
THAILAND
•UNITED KINGDOM POUND
MEMO:
••UNITED STATES

DOLLAR

Jun. 6

I CURRENCY l t « T S PER DOLLAR!
Jun. 11
Jun. 10
Jun. 9

0. 7631

0.7*40
11.195
32.720
1.1940
5.4957
4.1400
1.2880
4.3350
5.3560
1.5898
191.70
7.7360
28.700
1.6766
1203.50
127.20
2.5185
1.7911
0.5407
6.2100
132.50
1.6275
2.8190
792.40
100.45
N.A.
5.7425
1.4523
24.905
25.420
1.8340

32. 740
1. 1935
5. 4937
6, 1420
1 2874
4« 3385
5 3560
1 5905
192, 80
7 7330
28 450
1 6742
1203 75
127 55
2 ,5210
1 7917
0 5442
6 .2215
132 ,90
1 .6270
2 .8250
792 .30
100 .40
43 .800
5 .7470
1 .4560
N A.
25 .420
1 .8325

86.70

86.76

11. 198

Jun. 12

0 .7586
11 .089

1.1950
5.4937
6.1395
1.2870
4.3450
5.3630
1.5937
192.85
7.7350
28.450
1.6755
1204.75
127.65
2.5225
1.7956
0.5434
6.2295
132.44
1.6270
2.8250
791.80
100.36
43.900
5.7530
1.4520
24.729
25.440
1.8330

0.7616
11.108
32.510
1.1933
5.4937
6.0910
1.2972
4.3090
5.3190
1.579%
192.15
7.7350
28.450
1.6910
1195.25
126.75
2.5180
1.7795
0.5433
6.1735
131.45
1.6270
2.8100
793.50
99.70
N.A.
5.7040
1.4315
24.755
25.440
1.8460

32 460
1 1916
5 4937
6 .0825
1 2890
4 .3025
5 .3125
1 5770
192 00
7 .7320
28 450
1. 6925
1194. 00
126.,65
2 .5165
1 .7765
0 .5436
6 1710
131 .05
1 .6220
2 .8080
794 .00
99 .60
N.A.
5 .6995
1 .4270
24 .743
25 390
1. 8515

86.86

86.19

86.05

0.7617
11.213

32.800

•VALUE I S U.S. DOLLARS
•.INDEX OF WEIGHTED AVERAGE EXCHANGE VALUE OF U.S. DOLLAR AGAINST C U R R E N C I E S 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
1976 FEDERAL RESERVE BULLETIN.
THIS RELEASE I S AVAILABLE ONLINE THROUGH THE FACILITIES OF THE DEPARTMENT OF COMMERCE'S
ECONOMIC BULLETIN BOARD. FOR INFORMATION, CALL 12021 $77-1986.
FOR INFORMATION ABOUT YOUR SUBSCRIPTION TO THIS RELEASE OR ABOUT RECEIVING I T I N DOCUfcNT
FORM, PLEASE CALL PUBLICATIONS SERVICES AT THE FEDERAL RESERVE BOARD AT 12021 452-3244.