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(516/517) Selected Interest & Exchange Rates W eekly Series o f Charts June 24, 2002 DIVISION OF INTERNATIONAL FINANCE Prepared by the BOARD OF GOVERNORS FINANCIAL MARKETS FEDERAL RESERVE SYSTEM SECTION Washington, D. C. 20551 Table o f Contents TABLES SUBSCRIPTION RATES: 1. LATEST FIGURES PLOTTED 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 o f Support Services and make payment remittance payable to the Board o f Governors o f the Federal Reserve System in a form collectible at Par in U.S. currency. 2. DAILY CERTIFIED SPOT EXCHANGE RATES CHARTS 1. NOMINAL CURRENCY EXCHANGE VALUES 2. 3-MONTH FORWARD EXCHANGE RATES 3. PRICE OF GOLD IN LONDON 4. OVERNIGHT FUNDING RATES AND OFFICIAL INTEREST RATES 5. 3-MONTH INTEREST RATES 6. LONG-TERM GOVERNMENT BOND YIELDS 7. STOCK INDEXES Chart 1 Nominal Currency Exchange Values Dollar prices of foreign currencies and weighted average values of U.S. dollar (Average for wee* ending Wednesday, ratio scale, March 1973 = 100) 290 260 230 200 170 260 220 180 140 Chart 2 3-Month Forward Exchange Rates Premium (+) or (-) Averages Tor week ending Wednesday, percent per annum) Chart 3 Price of Gold in London (Averages for week ending Wednesday) 380 U.S. dollars per fine ounce .S. dollars per fine ounce 360 380 360 12.5 Kg Bars Afternoon fixing price 340 340 320 320 300 300 280 280 260 260 240 1997 1998 1999 2000 2001 2002 240 Chart 4 Interbank Funding Rates and Official Interest Rates (Averages for week ending Wednesday, percent per annum) the minimum bid rate and weighted average rate are shown. Chart 5 3-Month Interest Rates (Averages for week ending Wednesday, percent per annum) 6 4 2 0 Chart 6 Long-Term Government Bond Yields (Averages for week ending Wednesday, percent per annum) 8 United States Germany 6 4 Weighted average foreign rate 2 0 8 Canada 6 4 2 0 8 United Kingdom France 6 4 2 0 8 8 — Switzerland 6 4 2 0 Chart 7 Stock Indexes (Averages for week ending Wednesday, ratio scale, December 29, 2000 = 100) 150 125 100 75 50 150 125 100 75 50 150 125 100 75 50 150 125 100 75 50 22 -May-02 29-May-02 5-Jun-02 Chart 1. 12-Jun-02 19-Jun-02 Nominal Currency Exchange Values Noon buying rates (U.S. cents, weekly averages) Australian dollar Canadian dollar Japanese yen Restated German mark and euro Swedish krona Swiss franc U .K . pound 55.3500 64.824 0.79649 91.96 9.9979 63.236 145.83 55.9575 65.213 0.80276 92.63 10.1336 63.410 145.85 56.9700 65.333 0.80744 93.83 10.2908 63.926 146.16 57.1000 65.122 0.80049 94.54 10.2980 64.152 146.40 56.2940 64.743 0.80343 94.71 10.4020 64.198 147.93 39.17 64.61 208.55 132.27 44.27 203.44 58.98 39.60 65.00 210.19 133.23 44.88 204.00 58.99 40.32 65.12 211.41 134.96 45.57 205.66 59.12 40.41 64.91 209.59 135.98 45.60 206.39 59.21 39.84 64.53 210.36 136.23 46.06 206.53 59.83 -3.03 -0.81 -1.64 1.90 0.65 -2.24 -3.15 -0.86 -1.64 1.91 0.68 -2.29 -3.15 -0.90 -1.63 1.91 0.63 -2.27 -3.20 -0.95 -1.65 1.89 0.63 -2.29 321.08 325.30 321.91 319.53 Indexes, March 1973 base rates = 100 Australian dollar Canadian dollar Japanese yen Restated German mark and euro Swedish krona Swiss franc U .K . pound Chart 2. 3-Month Forward Exchangei Rates, Premium or Discount Australian dollar Canadian dollar Euro Japanese yen Swiss franc U .K . pound Chart 3. Gold Price in London, Afternoon Fixing U.S. dollars per fine ounce Chart 4. -2.99 -0.78 -1.67 1.91 0.66 -2.25 312.90 Interbank Funding Rates and Official Interest Rates United States Target federal funds rate Effective federal funds Discount rate Canada Bank rate Call money Lower bound Euro area Marginal lending rate Eonia Repo rate Overnight deposit rate Japan Call money Discount rate Switzerland* Upper bound Libor rate Lower bound United Kingdom Call money Repo rate 1.75 1.71 1.25 1.75 1.78 1.25 1.75 1.78 1.25 1.75 1.74 1.25 1.75 1.75 1.25 2.50 2.25 2.00 2.50 2.24 2.00 2.75 2.32 2.25 2.75 2.49 2.25 2.75 2.50 2.25 4.25 3.28 3.25 2.25 4.25 3.34 3.25 2.25 4.25 3.34 3.25 2.25 4.25 3.33 3.25 2.25 4.25 3.31 3.25 2.25 0.00 0.10 0.00 0.10 0.00 0.10 0.00 0.10 0.00 0.10 2.25 1.27 1.25 2.25 1.27 1.25 2.25 1.24 1.25 2.25 1.27 1.25 2.25 1.26 1.25 3.96 4.00 4.59 4.00 4.06 4.00 3.32 4.00 3.33 4.00 *In January 2000, the Swiss National Bank began to target the Swiss Franc 3-month LIBOR interest rate, with the aim of keeping this rate inside a range given by an upper and a lower bound. 22-May-02 29-May-02 5-Jun-02 Chart 5. 3 -Month Interest Rates U.S. 90-day CD ’s, secondary market Australian bank bill Canadian finance paper Euro-area interbank Japanese CD Swedish treasury bill Swiss interbank U.K. interbank sterling Weighted average foreign interest rate Chart 6. 12-Jun-02 19-Jun-02 1.82 1.83 1.82 1.81 4.94 4.99 5.11 5.05 2.67 2.67 2.73 2.80 3.51 3.49 3.48 3.47 0.02 0.02 0.02 0.02 4.47 4.47 4.48 4.46 1.17 1.18 1.16 1.18 4.07 4.06 4.09 4.09 2.29 2.28 2.30 2.32 Switzerland, Australia, and Sweden) Long Term Government Bellwether Bond Yields 10-year maturity, where available 5.67 5.57 5.51 5.52 Canada 5.29 4.63 5.22 5.21 France 5.20 5.17 5.14 5.12 Germany 5.44 5.37 5.40 5.35 Italy 1.37 1.42 1.39 1.37 Japan 3.49 3.48 3.49 3.47 Switzerland 5.29 5.27 5.24 5.23 United Kingdom 5.20 5.15 5.06 5.04 United States 4.80 4.72 4.71 4.72 Weighted average foreign interest rate (Canada, euro area, Japan, United Kingdom, Switzerland, Australia, and Sweden) Chart 7. 1.80 5.10 2.84 3.47 0.02 4.46 1.18 4.10 2.33 5.39 5.08 4.99 5.22 1.37 3.41 5.03 4.86 4.60 Stock Indexes (Wednesday figures) Canada France Germany Euro area Italy Japan Switzerland United Kingdom United States 85.50 76.43 77.25 300.12 73.50 88.00 81.00 69.24 87.84 85.20 76.29 77.63 295.39 72.88 87.70 81.11 68.63 86.82 84.49 72.36 72.80 285.86 69.67 86.96 78.92 67.03 85.25 82.38 71.07 70.90 277.42 69.26 85.20 75.87 65.64 83.21 Indices (in order, rebased to December 29, 2000) are Toronto Composite, SBF250, FAZ Aktien, DJ Euro Stoxx Index, Banca Italiana General, Tokyo SE (Topix), Swiss Performance Index, Financial Times Ordinary, NYSE Composite 81.13 69.71 67.78 269.58 67.40 78.85 73.80 62.62 83.47
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