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(516/517) Selected Interest & Exchange Rates Weekly Series of Charts June 26, 1989 Prepared by the FINANCIAL MARKETS SECTION DIVISION OF INTERNATIONAL FINANCE BOARD OF GOVERNORS FEDERAL RESERVE SYSTEM Washington, D.C. 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 $24.00 per year or $.60 each in the United States, its possessions, Canada, and Mexico; 10 or more of the s a m e issue to one address, $22.50 per year or $.55 each. Elsewhere, $30.00 per year or $.70 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 O F FOREIGN CURRENCIES AND WEIGHTED AVERAGE VALUES (THIN LINE) AVERAGES FOR WEEK ENDING WEDNESDAY RATIOS MARCH 197( 1=100 SCALE 11973=100 140 120 140 FOREIGN CURRENCY PRICE O F U.S. DOLLAR __ BELGIAN FRANC 120 /J 100 ^ 90 : 90 80 80 I 70 I I I I 70 I 280 240 100 280 __ SWISS FRANC JAPANESE YEN — 240 200 200 180 180 160 - 160 140 140 120 120 100 100 CANADIAN DOLLAR 90 80 90 U.K. POUND 80 70 70 60 60 iiliiliilii 50 50 200 200 180 GERMAN MARK 180 DUTCH GUILDER 160 - 140 140 120 - I 100 I I 120 100 11 I n h i l i i 60 120 - 100 90 160 ITALIAN LIRA 50 FRENCH FRANC \ 80 : v 45 40 70 35 60 30 50 I 1987 1989 I I I I 1987 I IIIM IM III uli ihili i 1989 25 CHART 2 3-MONTH FORWARD EXCHANGE RATES PREMIUM (+) OR (-) AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER ANNUM PERCENT PER ANNUM 4 4 CANADIAN DOLLAR U. K. POUND AZ x" ii i jV v V A i/Y ^ I I I I I G E R M A N MARK I I I I I I I I / I I V " \ I I I I I I iilnliilii lllxllllll " • V I I FRENCH FRANC 1987 I DUTCH GUILDER "VI I J A P A N E S E YEN SWISS FRANC I I ITALIAN LIRA 1989 1987 1989 - CHARTS PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY U.S. OLLARS PER FINE OUNCE U.S. DOLLARS PER FINEOI 520 520 500 500 12.5 Kg BARS 480 480 AFTERNOON FIXING PRICE 460 460 440 440 420 420 400 400 380 380 360 360 340 340 320 320 i I i i I i i I i i I i 300 1986 1987 1988 1989 300 CHART4 CALL MONEY RATES WEEKLY SERIES PERCENT PER ANNUM PERCENT PER ANNUM 16 12 - - U.S. FEDERAL FUNDS FRANCE 8 JAPAN 4 0 — - 1 1 1 1 1 1 , I| , I| , I| II 16 16 CANADA 12 8 GERMANY 4 0 16 UNITED KINGDOM SWITZERLAND 12 8 4 NETHERLANDS 0 1987 1989 1987 1989 CHART 5 3-MONTH INTEREST RATES WEEKLY SERIES ENTPER ANNUM PERCENT PER ANh 12 12 FRENCH INTERBANK RATE 10 10 U.S. CD'S 8 8 6 6 WEIGHTED AVERAGE FOREIGN RATE 4 4 2 2 16 16 14 - U.K. INTERBANK STERLING CANADIAN FINANCE CO. PAPER 12 — f 12 - 10 10 8 6 8 - I I I I I I I I I I I 6 I 8 8 6 14 GERMAN INTERBANK RATE - SWISS INTERBANK RATE J - 6 4 4 2 - I I I 0 I I I 2 0 10 10 NETHERLANDS INTERBANK RATE 8 - 8 JAPANESE GENSAKI RATE 6 6 4 - I 2 1987 1989 I I I I 1987 4 2 I 1989 CHART 6 EURO-DOLLAR DEPOSIT RATES LONDON AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER ANf )ENT PER ANNUM 14 14 3-MONTH OVERNIGHT 12 12 10 10 8 8 6 6 4 4 14 14 12 6-MONTH 7-DAY 12 10 10 8 8 6 6 I I II I I I I I H i l l I I I 4 14 14 12 4 1-MONTH 1-YEAR — — 12 10 10 8 8 6 - I 4 1987 1989 I I I I 1987 I 6 4 1989 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 AN 14 14 12 12 10 10 3-MONTH FEDERAL FUNDS EURO-DOLLAR DEPOSITS DASHED LINE 8 8 6 6 OVERNIGHT 90-DAY C D ' S EURO-DOLLAR DEPOSITS DASHED LINE 4 4 IIIIIIIIIM 2 IIII IIIIIIIIII I Mill 2 2 2 DIFFERENTIAL DIFFERENTIAL 1 1 + + 0 0 111111111111111M111111 1 1987 ENTIAL SCALE = 2 PERCENT ON RATE SCALE 1989 111! 1987 1989 1 CHARTS INTEREST ARBITRAGE: 3-MONTH FUNDS DIFFERENTIAL: PLUS(+), INDICATES FAVOR DOLLAR A S S E T S AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER AW )ENT PER ANNUM 16 16 12 12 CANADIAN FINANCE CO. PAPER, COVERED INTERBANK STERLING COVERED LONDON 8 4 8 EURO-DOLLAR DEPOSITS U.S. COMMERCIAL PAPER DASHED LINE DASHED LINE iiIhIm iilit IiiIiiIiiIiilliIii 0 4 I N N 2 2 DIFFERENTIAL DIFFERENTIAL + + 0 0 I 2 I I I ill I I I II I I I II I 2 16 12 16 12 INTERBANK DM COVERED FRANKFURT SWISS INTERBANK (SF) COVERED 8 4 0 8 EURO-DOLLAR DEPOSITS EURO-DOLLAR DEPOSITS DASHED LINE DASHED LINE 0 II I II I II I II I I 4 ii I u l i i l n l i i l u l u l i 2 0 2 DIFFERENTIAL DIFFERENTIAL + + 0 0 iiliiliiliiIiiliiliilii 2 1987 1989 PERCENT ON DIFFERENTIAL SCALE = 2 PERCENT ON RATE SCALE I I 1987 I I I I III I I I III I I I I i l l ' 1989 2 CHART9 LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES PERCENT PER ANf DENT PER ANNUM 14 14 „ UNITED STATES 12 f 10 CANADA 12 \ 1 V v s y v ' X r ^v x \ _ — 8 8 1 6 1 I I I . 1 6 14 14 12 „ UNITED KINGDOM __ 10 FRANCE -V 8 6 1 1 12 10 11 (\fi 1 A 8 I I I 6 10 10 8 10 „ SWITZERLAND __ JAPAN - 8 6 6 4 - ILL 2 1 1 1 1 1 4 2 1 10 10 NETHERLANDS 8 - MONTHLY GERMANY - 8 6 6 4 4 2 I I I I I I 1987 I 1 1989 1 1 1 1 1987 1 1 1 1 1 1 1 1 1 ! 11 1989 2 CHART 10 INDUSTRIAL STOCK INDICES WEEKLY SERIES RATIO SCALE 1969-100 RATIO SCALE 1969=100 UNITED STATES NETHERLANDS JAPAN GERMANY 800 600 - 500 - 400 - 300 — M -J 200 / Vv - J\f - - 1 1 1 i i,, 1 1 SWITZERLAND FRANCE 600 500 — — CANADA 400 VV — ' I/ 300 200 UNITED KINGDOM I I I I I 1987 I A f 11111111111 1989 1987 1989 SERIES CHART 1 . LAST VALUE PLOTTED DATE VALUE NAME SPOT EXCHANGE BATES AND I N D I C E S WEEKLY A f E H A G E S , NOON BUYING S A T E S (U.S. CENTS) GERMAN HARK JAPANESE IBM DUTCH GUILDER U . K . POUND CANADIAN DOLLAR FRENCH FRANC FRANC SMISS BELGIAN FRANC ITALIAN LIRA SWEDISH KRONA INDICES, MARCH 1 9 7 3 JUNE JUNE JUNE JUNE JUNE JUNE JUNE JUNE JUNE JUNE BASE RATES = JUNE JUNE JUNE JUNE JUNE JUNE JUNE JUNE JUNE WEIGHTED AVERAGE EXCHANGE VALUE I N D I C E S , ( G - 1 0 COUNTRIES PLUS SWITZERLAND) U . S . DOLLAR GERMAN MARK JAPANESE YEN DUTCH GUILDER U . K . POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC BELGIAN FRANC ITALIAN LIRA SWEDISH KRONA 3-MONTH FORWARD EXCHANGE R A T E S , CANADIA* DOLLAR U.K. PuSHB GERMAN MASK FRENCH FBAHC SWISS FRANC DU'iCH GUILDER J A P A N E S E YEN ITALIAN LIRA 5 0 . 32 0. 6 8 7 3 9 44. 69 1 5 3 . 96 8 3 . 44 14. 83 5 8 . 02 2. 40489 0. 0 6 9 3 6 1 4 . 90 21 21 21 21 21 21 21 21 21 14 L. 5 4 179.98 128.30 62.27 8 3 . 17 66.83 1 8 6 . 66 9 4 . 76 3 9 , 40 21 21 21 21 21 21 21 21 21 21 21 10 3 . 6 6 1 5 6 . 74 199.34 1 3 4 . 56 6 1 . 17 84.52 65.85 195.66 97.36 37. 83 6 6 . 98 21 21 21 21 21 21 21 21 -2.97 -4.55 2.54 0 . 52 2 . 30 2.25 4 . 13 - 2. 68 100 GERMAN MARK JAPANESE YEN DUTCH GUILDER U . K . POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC BELGIAN FRANC ITALIAN LIRA CHA2I 2 . 21 21 21 21 21 21 21 21 21 21 MAA 1 9 7 3 = 100 JUNE JUNE JUNE JUNE JUNE JUNE JUNE JUNE JUNE JUNE JUNE PREMIUM OR DISCOUNT JUNE JUNE JUNE JUNE JUNE JUNE JUNE JUNE LAST VALUE PLOTTED DATE VALUE S E R I E S NAME CHART 3 . GOLD P i t i C E I N LONDON, AFTERNOON F I X I N G O.S. CHART 4 . DOLLARS PER F I N E OUNCE JUNE 2 1 364.75 CALL 8 0 S BY RATES U . S . FEDERAL FUNDS OVERNIGHT EURO-DOLLAR D E P O S I T S U.K. CANADA GERMANY JAPAN FRASCE NETHERLANDS SWITZERLAND JUNE JUNE JUNE JUNE JUNE JUNE JUNE JUNE JUNE 21 21 21 21 21 21 21 21 21 9 . 48 9.38 1 2 . 52 12. 3 8 6.39 4 . 63 8.95 6. 83 6.88 JUNE JUNE JUNE JUNE JUNE JUNE JUNE JUNE JUNE 21 21 21 21 21 21 21 21 21 9. 6. 4. 12. 14. 6. 9. 7. 8. JUNE JUNE JUNE JUNE JUNE JUNE 21 21 21 21 21 21 9.38 9.36 9.38 9.30 9.25 9 . 13 OVE-RNIGHT EURO-DOLLAR D E P O S I T S O . S . FEDERAL FUNDS DIFFERENTIAL JUNE 2 1 JUNE 2 1 JUNE 2 1 9. 38 9. 48 - 0 . 11 3-MONTH EURO—DOLLAR D E P O S I T RATE U . S . 9 0 - D A Y C D ' S , SECONDARY MARKET DIFFERENTIAL JUNE 2 1 JUNE 2 1 JUNE 2 1 9. 30 9. 25 0 . 05 CHART 5 . 3-MONTH I N T E R E S T RATES O . S . 9 0 - D A Y C D ' S , SECONDARY MARKET GERMAN INTERBANK LOAN JAPANESE GENSAKI BATE CANADIAN FINANCE PAPER INTERBANK S T E R L I N G SWISS INTERBANK LOAN FRENCH INTERBANK RATE NETHERLANDS INTER BANK RATE WEIGHTED AVERAGE FOliEIGN I N T E R E S T RATE ( G - 1 0 COUNTRIES PLUS SWITZERLAND) CHART 6 . EURO-DOLLAR D E P O S I T RATES: LONDON OVEJiNIGHI 7-DAY 1-MONTH 3-MONTH 6-MONTH 1-YEAH CHART 7 . SELECTED EURO-DOLLAR AND U . S . 25 88 48 39 35 97 84 08 45 MONEY MARKET RATES L A S T VALUE PLOTTED DATE VALUE SEE I B S NAME CHART 8 . INTEREST ABBITRAGE, 3-MONTH FUNDS SUfiO-DOLLAB D E P O S I T INTERBA1K S T E R L I N G ( L O N D O N ) , COVERED DIFFERENTIAL JUNE JUNE JUNE 21 21 21 9.30 9.63 -0.33 U . S . COMMERCIAL PAPER CANADIAN FINANCE PAP EH, DIFFERENTIAL JUNE JUNE JUNE 21 21 21 9 . 12 9.34 EURO-DOLLAR D E P O S I T INTERBANK DM ( F R A N K F U R T ) , COVERED DIFFERENTIAL JUNE JUNE JUNE 21 21 21 - a . 16 EURO-DOLLAR D E P O S I T SWISS INTERBANK, COVERED DIFFERENTIAL JUNE JUNE JUNE 21 21 21 9.30 9 . 32 -0.02 JUNE 16 J U N E 16 JUNE 9 JUNE 1 6 JUNE 2 JUNE 9 APRIL JUNE 1 6 3.26 6.85 5.00 5 . 15 9.85 9.04 7.08 9.46 HAY 9.33 CHART 9 . 9.30 9.46 CORPORATE AAA BONDS CHART 1 0 . -0.22 LONG TEEM GOVEEMENT BOND Y I E L D S UNITED STATES GERMANY JAPAN SWITZERLAND CA NAD A FRANCE NETHERLANDS (MONTHLY) UNITED KINGDOM U.S. COVERED STOCK I N D I C E S UNITED S T A T E S UNITED KINGDOM CANADA GERMANY SWITZERLAND NETHERLANDS FRANCE JA PAN JUNE JUNE JUNE JUNE JUNE JUNE JUNE JUNE 21 21 21 21 21 21 21 21 338. 395. 369. 264. 250. 345. 484. 654. 69 87 47 42 26 87 20 79 FEDERAL RESERVE statistical release H.10(512) JUNE 2 6 , 1989 FOREIGN EXCHANGE RATES FOR THE WEEK ENDING JUNE 2 3 , 1989 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 FINLAND FRANCE GERMANY GREECE HONG KONG INDIA •IRELAND ITALY JAPAN MALAYSIA NETHERLANDS *NEW ZEALAND NORWAY PORTUGAL SINGAPORE SOUTH AFRICA SOUTH KOREA SPAIN S R I LANKA SWEDEN SWITZERLAND TAIWAN THAILAND • U N I T E D 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: • U N I T E D STATES DOLLAR JUNE 1 9 75.40 13.910 41.310 1.1990 3.7314 7.6950 4.4200 6.6950 1.9740 171.400 7.7890 16.4200 135.05 1436.50 144.45 2.7135 2.2223 56.900 7.1725 164.700 1.9630 2.7880 669.60 125.100 34.408 6.6800 1.7055 26.015 25.960 154.80 103.06 (CURRENCY U N I T S PER DOLLAR) JUNE 2 0 JUNE 2 1 75.73 13.949 41.410 1.1994 3.7314 7.7155 4.4310 6.7110 1.9780 170.000 7.8000 16.4200 134.90 1433.50 144.07 2.7085 2.2253 57.200 7.1915 164.800 1.9600 2.7810 669.50 125.600 34.408 6.6905 1.7400 26.000 25.450 154.95 103.18 76.90 13.820 41.180 1.1970 3.7314 7.6520 4.3940 6.6780 1.9700 171.420 7.7985 16.4700 135.00 1428.50 143.85 2.7150 2.2180 57.570 7.1450 164.350 1.9610 2.7800 669.40 124.800 34.408 6.6520 1.7030 26.050 25.960 154.70 102.81 JUNE 2 2 JUNE 2 3 77.60 13.507 41.030 1.1923 3.7314 7.6350 4.3910 6.6440 1.9595 168.600 7.7960 16.4300 136.10 1423.50 141.07 2.7020 2.2067 58.650 7.1430 164.000 1.9550 2.7530 669.30 124.850 34.417 6.6380 1.6852 25.932 25.900 155.30 77.20 13.632 40.570 1.1913 3.7318 7.5495 4.3445 6.5820 1.9405 168.300 7.7960 16.4600 137.55 1407.00 138.50 2.7010 2.1862 58.670 7.0730 162.000 1.9540 2.7500 669.20 124.300 34.417 6.5750 1.6650 25.950 25.900 156.70 102.12 101.08 t I N D E X OF WEIGHTED AVERAGE EXCHANGE VALUE OF U . S . DOLLAR AGAINST CURRENCIES OF OTHER G - 1 0 C O U N T R I E S . MARCH 1 9 7 3 = 1 0 0 . WEIGHTS ARE 1 9 7 2 - 7 6 GLOBAL TRADE OF EACH OF THE 1 0 COUNTRIES. S E R I E S REVISED A S OF AUGUST 1 9 7 8 . FOR DESCRIPTION AND BACK DATA, SEE "INDEX OF THE WEIGHTED-AVERAGE EXCHANGE VALUE OF THE U . S . DOLLAR: R E V I S I O N " ON PAGE 7 0 0 OF THE AUGUST 1 9 7 8 FEDERAL RESERVE B U L L E T I N . •VALUE I S U . S . CENTS
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