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I
Selected Interest &
Exchange Rates
Weekly Series of Charts
June 16,1986
Prepared by the
FINANCIAL MARKETS
SECTION
DIVISION OF
INTERNATIONAL FINANCE
BOARD OF GOVERNORS
FEDERAL RESERVE SYSTEM
Washington, D C. 20551
•
#
Table of Contents
TABLES
SUBSCRIPTION RATES:
1. LATEST FIGURES PLOTTED
Weekly $15.00 per year or $.40 each in the United
States, its possessions, Canada, and Mexico; 10 or
more of the same issue to one address, $13.50 per
year or $.35 each. Elsewhere, $20.00 per year or $.50
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.
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
CHART 1
SPOT EXCHANGE INDICES
DOLLAR PRICES OF FOREIGN CURRENCIES AND WEIGHTED AVERAGE VALUES (THIN LINE)
AVERAGES FOR WEEK ENDING WEDNESDAY
RATIO
MARCH 197 1=100
CALE
MARCH 1 9 7 3 = 1 0 0
200
180
50
FOREIGN CURRENCY
PRICE OF U.S. DOLLAR
ITALIAN LIRA
45
160
40
140
35
120
30
100
25
200
180
200
160
180
JAPANESE YEN
GERMAN MARK
160
140
140
120
120
100
100
80
80
140
140
120
DUTCH GUILDER
CANADIAN DOLLAR
120
too
100
90
90
80
80
70
70
I
60
I
I
III I IIII I III I
60
90
90
80
U.K. POUND
80
FRENCH FRANC
70
70
60
60
50
50
40
40
120
100
240
SWISS FRANC
BELGIAN FRANC
200
90
180
80
160
70
140
60
120
50
100
1984
1986
1984
1986
CHART 2
3-MONTH FORWARD EXCHANGE RATES
PREMIUM (+) OR (-)
AVERAGES FOR WEEK ENDING WEDNESDAY
PERCENT PER ANNUM
PERCENT PER ANNUM
4
JAPANESE YEN
CANADIAN DOLLAR
+
0
4
8
4
U. K. POUND
SWISS FRANC
+
0
4
8
8
GERMAN MARK
DUTCH GUILDER
FRENCH FRANC
ITALIAN LIRA
4
0
8
24
32
32
1984
1986
1984
1986
CHART 3
PRICE OF GOLD IN LONDON
AVERAGES FOR WEEK ENDING WEDNESDAY
U.S. D LLARS PER FINE OUNCE
U.S. DOLLARS PER FINE C
520
520
500
500
480
480
460
460
12.5 Kg BARS
440
440
AFTERNOON FIXING PRICE
420
420
400
400
380
380
360
360
340
340
320
320
300
300
280
280
l l
260
1983
1984
1985
1986
260
CHART 4
CALL MONEY RATES
'
WEEKLY SERIES
:NT PER ANNUM
PERCENT PER AL
20
20
16
16
FRANCE
U. S. FEDERAL FUNDS
12
12
\
8
w
\ \
V
8
v v W '
4
4
JAPAN
0
I
I
I
I
I
I
0
20
16
20
SWITZERLAND
CANADA
12
.
.
A
.
8
A
.
:
U
16
12
8
4
4
0
0
20
20
16
-
-
UNITED KINGDOM
12
16
12
GERMANY
8
8
uWwv
4
4
NETHERLANDS
I
0
1984
1986
! I
!
I
1984
I
0
1986
CHART 5
3-MONTH INTEREST RATES
WEEKLY SERIES
PERCENT PER AH
:NT PER ANNUM
16
14
U.S. CD'S
CANADIAN FINANCE CO.
PAPER
12
14
10
8
12
10
WEIGHTED AVERAGE
FOREIGN RATE
6
8
4
6
16
14
IFRENCH INTERBANK RATE
U.K. INTERBANK STERLING
14
-
12
10
10
h
I
8
I I
!
-
I I
8
6
10
8
12
10
GERMAN INTERBANK RATE
8
6
6
4
4
2
2
8
8
7
SWISS INTERBANK RATE
JAPANESE GENSAKIRATE
-
-
6
6
4
5
2
i
4
1984
1986
i
i
I
I I
1984
0
1986
CHART 6
EURO-DOLLAR DEPOSIT RATES LONDON
AVERAGES FOR WEEK ENDING WEDNESDAY
ENT PER ANNUM
PERCENT PER Af
16
16
OVERNIGHT
3-MONTH
14
14
12
12
10
10
8
8
6
6
16
16
7-DAY
6-MONTH
14
14
12
12
10
10
8
8
6
6
16
16
1-YEAR
1-MONTH
14
14
12
12
10
10
8
8
6
6
1984
1986
1984
1986
CHART 7
SELECTED EURO-DOLLAR AND U. S. MONEY MARKET RATES
DIFFERENTIAL: PLUS(+), FAVORS BORROWING IN U. S.
AVERAGES FOR WEEK ENDING WEDNESDAY
:NT PER ANNUM
PERCENT PER A
16
16
14
14
FEDERAL FUNDS
3-MONTH
DASHED LINE
E U R O - D O L L A R DEPOSITS
12
12
10
10
8
8
90-DAY CD S
OVERNIGHT
E U R O - D O L L A R DEPOSITS
6
6
1111111
4
1111
I I I I I I I
I I I I I I I
2
4
2
DIFFERENTIAL
DIFFERENTIAL
1
1
r
+
^
,
f
X
^
0
I
1
I
I
111111111111111111111111
1984
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
1986
I
I
I
A
V A A ^ v
A
v v
v
- v—x/yv^
I I I I I I I I I I I
1984
11111111111
1986
+
0
1
CHART 8
INTEREST ARBITRAGE: 3-MONTH FUNDS
DIFFERENTIAL: PLUS(+), INDICATES FAVOR DOLLAR ASSETS
AVERAGES FOR WEEK ENDING WEDNESDAY
PERCENT PER ANNUM
PERCENT PER ANNUM
18
14
18
CANADIAN FINANCE
CO. PAPER, COVERED
EURO-DOLLAR DEPOSITS
DASHED LINE
-
10
14
10
INTERBANK STERLING
COVERED LONDON
U. S. COMMERCIAL PAPER
I IIiI
DIFFERENTIAL
DIFFERENTIAL
yVWv
I ill I I
2
2
18
19
14
INTERBANK DM
SWISS INTERBANK (SF) COVERED
COVERED FRANKFURT
14
10
10
EURO-DOLLAR DEPOSITS
EURO-DOLLAR DEPOSITS
DASHED LINE
DASHED LINE
DIFFERENTIAL
DIFFERENTIAL
JL_L
1984
1986
1 P E R C E N T ON D I F F E R E N T I A L S C A L E = 2 P E R C E N T ON RATE S C A L E
1984
1986
CHART 9
LONG-TERM GOVERNMENT BOND YIELDS
WEEKLY SERIES
PERCENT PER AN
:NT PER ANNUM
17
17
CANADA
UNITED STATES
15
15
13
13
11
11
9
9
7
7
15
9
13
7
SWITZERLAND
UNITED KINGDOM
11
5
9
3
7
1
10
10
iGERMANY
JAPAN
8
-
6
I
4
-
8
—
6
11 l i i 11
I
4
18
18
U. S. C O R P O R A T E
MONTHLY
16
16
v
FRANCE
Aaa BONDS
14
-
14
12
—
12
„
10
INETHERLANDS
MONTHLY
10
8
—
I
6
1984
1986
I
1984
8
6
1986
CHART 10
INDUSTRIAL STOCK INDICES
WEEKLY SERIES
RATIO SCALE
1969*100
RATIO S C A L E
1969=100
350
300
—
—
250
200
UNITED KINGDOM
UNITED STATES
-
-
I
I I
I
I
I
11111111111
NETHERLANDS
SWITZERLAND
FRANCE
GERMANY
/
350
300
250 200
-
150
v f i
JAPAN
r
i
i
CANADA
A-
—
y--vv/V
-
v
i
i
1984
i
I
11111111111
1986
I I
I
I
1984
I
-
250
-
200
II1111111II
1986
150
LAST VALUE PLOTTED
DATE
VALUE
SERIES NAH 2
CHART 1. SPOT EXCHANGE RATES AND INDICES
WEEKLY A V E R A G E S , NOON BOXING RATES
{U.S. CENTS)
GERMAN MARK
JAPANESE YEN
DUTCH GUILDER
U.K. POUND
CANADIAN DOLLAR
FRENCH FRANC
SWISS F R A N C
BELGIAN FRANC
ITALIAN LIRA
SWEDISH KRONA
JUNE
JUNE
JUNE
JUNE
JUNE
JUNE
JUNE
JUNE
JUNE
JUNE
11
11
11
11
31
11
11
11
11
11
4 4.89
0. 59687
39. 88
150. 83
71.83
14.10
54. 44
2. 19804
0.06537
13.89
JUNE
JUNE
JUNE
JUNE
JUNE
JUNE
JUNE
JUNE
JUNE
11
11
11
11
11
11
11
11
11
126. 29
156.28
114.48
61.01
71.59
63.52
175. 13
86.61
37. 14
11
11
11
11
11
11
11
11
11
11
11
113. 59
149.05
184. 46
128.64
64.74
77. 72
6 7. 43
197.32
9 5. 53
38.35
67. 12
11
11
11
11
11
11
11
11
-1. 72
-2. 52
2. 53
-0. 32
2. 37
1. 17
2. 45
-4. 36
INDICES, MARCH 1973 BASE SATES = 100
GERMAN MARK
J A P A N E S E YEN
DUTCH GUILDER
U.K. POUND
CANADIAN DOLLAR
FRENCH FRANC
SWISS F R A N C
BELGIAN F R A N C
ITALIAN LIRA
WEIGHTED A V E R A G E EXCHANGE VALUE INDICES, MAR
(G-10 COUNTRIES PLUS SWITZERLAND)
U.S. DOLLAR
GERMAN MARK
J A P A N E S E YEN
DUTCH GUILDER
U.K. POUND
CANADIAN DOLLAR
FRENCH FRANC
SWISS F R A N C
BELGIAN FRANC
ITALIAN LIRA
SSEDISH KRONA
CHART 2. 3-MONTH FORWARD EXCHANGE
CANADIAN DOLLAR
U.K. POUND
GERMAN MARK
FRENCH FRANC
S8ISS F R A N C
DUTCH GUILDER
JAPANESE YEN
ITALIAN LIRA
1973 = 100
JUNE
JUNE
JUNE
JUNE
JUNE
JUNE
JUNE
JUNE
JUNE
JUNE
JUNE
S, PREMIUM OS DISCOUNT
JUNE
JUNE
JUNE
JUNE
JUNE
JUNE
JUNE
JUNE
SERIES NAME
LAST VALUE PLOTTED
DATE
VALUE
CHART 3. GOLD PRICE IN LONDON, AFTERNOON FIXING
U.S. DOLLARS PEE FINE OUNCE
JUNE 11
344.03
JUNE
JUNE
JUNE
JUNE
JUNE
JUNE
JUNE
JUNE
JUNE
11
11
11
11
11
11
11
11
11
6.89
6.90
10.65
8.25
4.39
4.35
7. 28
5.63
1.00
JUNE
JUNE
JUNE
JUNE
JUNE
JUNE
JUNE
JUNE
JUNE
11
11
11
11
11
11
11
11
11
6.84
4. 59
4.64
8.84
9.58
4.77
7. 31
5.88
6.69
JUNE
JUNE
JUNE
JUNE
JUNE
JUNE
11
11
11
11
11
11
6.90
6.94
7.01
7.01
7.06
7.29
OVERNIGHT EURO-DOLLAR DEPOSITS
U.S. FEDERAL FUNDS
DIFFERENTIAL
JUNE 11
JUNE 11
JUNE 11
6.90
6.89
0.01
3-MONTH EURO—DOLLAR DEPOSIT SATE
U.S. 90-DAY CD'S, SECONDARY MARKET
DIFFERENTIAL
JUNE 11
JUNE 11
JUNE 11
7.01
6. 84
0. 17
CHART 4. CALL MONEY RATES
U.S. FEDERAL FUNDS
OVERNIGHT EURO-DOLLAR DEPOSITS
U. K.
CANADA
GERMANY
JAPAN
FRANCE
NETHERLANDS
SWITZERLAND
CHART 5. 3-MONTH INTEREST BATES
U.S. SO-DAY CD'S, SECONDARY MARKET
GERMAN INTERBANK LOAN
JAPANESE GENSAKI R A T E
CANADIAN FINANCE PAPER
INTERBANK STERLING
SWISS INTERBANK LOAN
FRENCH INTERBANK RATE
NETHERLANDS INTERBANK RATE
WEIGHTED AVERAGE FOREIGN INTEREST RATE
(G-10 COUNTRIES PLUS SWITZERLAND)
CHART b. EURO-DOLLAR DEPOSIT RATES: LONDON
OVERNIGHT
7-DAY
1-MONTH
3-MONTH
6-MONTH
1-YEAR
CHART 7. SELECTED EURO-DOLLAR AND U.S. MONEY MARKEl RATES
SERIES NAME
LAST VALUE PLOTTED
DATE
VALUE
CHART 8- INTEREST ARBITRAGE, 3-MONTH FUNDS
EURO-DOLLAR DEPOSIT
INTERBANK STERLING (LONDON), COVERED
.DIFFERENTIAL
JUNE 11
JUNE 11
JUNE 11
7.01
7.00
0.02
U.S. COMMERCIAL PAPER
CANADIAN FINANCE PAPER, COVERED
DIFFERENTIAL
JUNE 11
JUNE 11
JUNE 11
6.78
7.08
-0.26
EURO-DOLLAR DEPOSIT
INTERBANK DM (FRANKFORT), COVERED
DIFFERENTIAL
JUNE 11
JUNE 11
JUNE 11
7.01
7. 15
- 0 . 14
EURO-DOLLAR DEPOSIT
SilSS INTERBANK, COVERED
DIFFERENTIAL
JUNE 11
JUNE 11
JUNE 11
7.01
7.17
- 0 . 16
JUNE 6
6
JUNE
JUNE 6
MAY 16
JUNE 6
MAY 23
MARCH
JUNE 6
8.23
5.86
5.25
4.37
9. 75
8. 12
6.44
8.72
APRIL
8.79
CHART 9. LONG TERM GOVERMENT BOND YIELDS
UNITED STATES
GERMANY
JAPAN (MONTHLY)
SUTHERLAND
CANADA
FRANCE
NETHERLANDS (MONTHLY)
UNITED KINGDOM
U.S. CORPORATE
AAA BONDS
CHART 10.
STOCK INDICES
UNITED STATES
UNITED KINGDOM
CANADA
GERMANY
SWITZERLAND
NETHERLANDS
FRANCE
JAPAN
JUNE
JUNE
JUNE
JUNE
JUNE
JUNE
JUNE
JUNE
4
4
4
4
4
4
4
4
252. 43
290. 34
306.58
269.87
189.07
338.34
353.29
345.87
FEDERAL RESERVE statistical release
H.10 (512)
JUNE 16, 1986
FOREIGN EXCHANGE RATES
FOB T H E MEEK ENDING
JDHE 13, 1986
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
BR MIL
CASADA
CHIMA.P.a.
DENMARK
FINLAND
FRANCE
GERMANY
GREECE
HONG KONG
INDIA
•IRELAND
ITALY
JAPAN
BkLklSIk
NETHERLANDS
•NEW Z E A L A N D
NORWAY
PORTUGAL
SINGAPORE
•SOOTH AFRICA
SOOTH KOREA
SPAIN
sax LANKA
SWEDEN
SWITZERLAND
TAIWAN
THAILAND
•UNITED KINGDOM
DOLLAR
SCHILLING
FRANC
CRUZADO
DOLLAR
YUAN
KRONE
MARKKA
FRANC
Dm MARK
DRACHMA
DOLLAR
RUPEE
POUND
LIRA
YEN
RINGGIT
GUILDER
DOLLAR
KRONE
BSCUDO
DOLLAR
RAND
HON
PESETA
RUPEE
KBONA
FRANC
DOJLLAB
BAHT
POUND
MEMO:
•UNITED S T A T E S
DOLLAR
JUNE
9
69.67
15.715
45.$40
13.84
1.3927
3.2095
8.2740
5.2010
7.1200
2.2360
140.200
7.8120
12.6300
135.72
1534.50
167.87
2.6175
2.5170
56.000
7.6225
150.900
2.2300
38.60
891.10
143.000
27.917
7.2110
1.8440
38.160
26.440
149.90
113.98
ICUBMRHCY UNITS P£B DQLLil
JUNE 11
J U N E 10
69.50
15.580
45.320
13.84
1.3898
3.2095
8.2050
5.1600
7.0750
2.2200
139.650
7.8100
12.5500
136.48
1524.00
166.90
2.6175
2.5005
56.350
7.5740
150.250
2.2240
38.40
891.60
142.300
27.917
7.1790
1.8290
38.160
26.410
151.65
113.20
68.85
15.560
45.230
13.84
1.3888
3.2095
8. 2015
5.1580
7.0510
2.2135
139.100
7. 8090
12.4400
136.98
1522.00
166.35
2.6135
2.4940
56. 020
7.5640
149.600
2.2165
37.05
891.10
141.600
27.915
7.1680
1.8275
NA
26.410
152.70
112. 96
JUNE 12
JUNE 13
69.03
15.538
45.130
13.84
1.3872
3.2025
8.1905
5.1450
7.0475
2.2100
139.250
7.8070
12.4800
136.90
1518.00
165.85
2.5100
2.4890
55.000
7.5500
149.450
2.2210
36.42
890.60
141.350
27.925
7.1600
1.8280
38.160
26.340
152.30
69.27
15.533
45.140
13.84
1.3840
3.2095
8. 19*0
5.1435
7.0430
2.2085
139.000
7.8080
12.5900
137.18
1518.00
165.25
2.6125
2.4875
54.400
7.5540
149.700
2.2180
36.90
890.10
141.400
27.943
7.1680
1.8220
38.160
26.330
152.35
112.73
112.61
IIHDEX OF BE1GU T E D AVESA6I E X C H A N G E VALUE OF U.S. DOLLAR AGAINST C U R R E N C I E S Of OTHER G-10
COUNTBISS. HABCH 1973 = 100. WEIGHTS ABB 1972-76 G L O B A L TBADB OF BACH
OF IUB 10 COUNTBIES.
SBBIBS B E T I S B D A S OF AUGUST 1978. FOB DBSCBIPTION AMD BACK DATA, SBB "INDEX OF IBB
BEIGHTED-AVBHAGB E X C H A N G E TALOB OF THE O.S. DOLLAR: BE VISION" 01 PAGE 700 OF THE AUGUST
1978 F E D E B A L BESBBFB BULLETIN.
•VALUE IS U.S. C E N T S
@FedFRASER