Full text of H.13 Selected Interest and Exchange Rates, Weekly Series of Charts : June 26, 1995

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Selected Interest &
Exchange Rates
Weekly Series of Charts

June 26,1995

DIVISION O F
INTERNATIONAL F I N A N C E

Prepared by the

BOARD O F G O V E R N O R S
FEDERAL RESERVE SYSTEM

FINANCIAL MARKETS
SECTION




Washington, DlC. 20551

Table of Contents

TABLES

1. LATEST FIGURES PLOTTED
2. DAILY CERTIFIED SPOT
EXCHANGE RATES
H.10 RELEASE
CHARTS

1.
2.
3.
4.
5.
6.
7.

SPOT EXCHANGE RATE INDICES
3-MONTH FORWARD EXCHANGE RATES
GOLD PRICE—LONDON
CALL MONEY RATES
3-MONTH INTEREST RATES
EURO-DOLLAR DEPOSIT RATES
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 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

RATIO SCALE
MARCH 1973=100

RATIO SCALE
MARCH 1973=100

120

BELGIAN FRANC

300 i —
JAPANESE YEN

SWISS FRANC

'

» '

I

•

'

» I

•

•

» I

» '

'

CANADIAN DOLLAR
U.K. POUND

GERMAN MARK

DUTCH GUILDER

ITALIAN LIRA

FRENCH FRANC

95

55

75

55

35

'

'

» I




'

' '
1993

I

'

'

< I

I

I I
1995

» •

'

I

'

• '
1993

I

'

'

1 I

» ' '
1995
15

CHART 2

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

PERCENT PER ANNUM

2

U.K. POUND

GERMAN MARK

—

—

I

I

I

I

I

I

I

I

1

1

1

I

1 1

1

TV

i

i

'i

I

i

i

i

I1

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1

I

—

A/.
i

i

1

i

i

I

JAPANESE YEN

CANADIAN DOLLAR

i

I

i

1

i

i

i

I

i

i

i

1

1

1

1

1

1

1

1

1

1

1

1

1

1 1

DUTCH GUILDER

SWISS FRANC

—

1 T
+

0

1

1

1

1

1

1

FRENCH FRANC

1 i

i

1

i

i

i

I

^ W'

I

I

I

TALIAN LIRA

-

2
4
6
8
10
12

1

1




1

1

1

1 1
1993

1

1 1

1

1

1

1 1
1995

1992

1994

6

CHART 3

PRICE OF GOLD IN LONDON
AVERAGES FOR WEEK ENDING WEDNESDAY
U.S. DOLLARS PER FINE OUNCE
420 i

U.S. DOLLARS PER FINE OUNCE
1 420

12.5 Kg BARS
AFTERNOON FIXING PRICE
400

400

380

380

360

360

340

320

340

J

1
1991




1

1

1

1
1992

1

I

I

I
1993

I

J
1994

1

1

1

I
1995

'

320

CHART 4

CALL MONEY RATES
WEEKLY SERIES
PERCENT PER ANNUM

PERCENT PER ANNUM
7

10

SWITZERLAND
U.S. FEDERAL FUNDS

JAPAN

NETHERLANDS

GERMANY

FRANCE

CANADA

UNITED KINGDOM




1993

1995

1993

1995

CHART 5

3-MONTH INTEREST RATES
WEEKLY SERIES
PERCENT PER ANNUM

PERCENT PER ANNUM
CANADIAN FINANCE PAPER

WEIGHTED AVERAGE
FOREIGN RATE

U.S. CD'S

2

3

12
NETHERLANDS INTERBANK RATE
10
U.K. INTERBANK STERLING

8

6

4
7

3

5

FRENCH INTERBANK RATE

JAPANESE CD RATE

3

1
10

5

GERMAN INTERBANK RATE

8
SWISS INTERBANK

6
4

2




1993

1995

1993

1995

3

CHART 6

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

PERCENT PER ANNUM

8

8
3-MONTH

OVERNIGHT

I

I

1 I

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1

1

1

I

1

1

1

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J—I— 2
8

6-MONTH

7-DAY
6

—




1-YEAR

1-MONTH

1993

1995

1993

1995

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

7

7

3-MONTH
EURO-DOLLAR DEPOSITS

OVERNIGHT

EURO-DOLLAR DEPOSITS

90-DAY CD'S
DASHED LINE

FEDERAL FUNDS
DASHED LINE

DIFFERENTIAL

DIFFERENTIAL
,

i




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1993

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1995

n ry •

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1993

'v y

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1995

L

CHART 8

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

PERCENT PER ANNUM

7

6

7
CANADIAN FINANCE
CO. PAPER, COVERED

INTERBANK STERLING

—

COVERED LONDON

5 —

U.S. COMMERCIAL PAPER
DASHED

EURO-DOLLAR DEPOSITS
DASHED LINE

i

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l

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2

1
DIFFERENTIAL

*rr^**

V/V

I

DIFFERENTIAL

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I

I

I

I

I

I

I

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I

INTERBANK DM
COVERED FRANKFURT

SWISS INTERBANK (SF) COVERED

EURO-DOLLAR DEPOSITS
/A

^URO-DOLLAR DEPOSITS

DASHED LINE

DASHED LINE

uS

I

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I

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I

I

1

1

I

I

'

1

I

DIFFERENTIAL

I

1

1

1

1

1

1

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1

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1

DIFFERENTIAL

V1

1

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1995

1

1

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1993

1

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1995

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CHART 9

LONG-TERM GOVERNMENT BOND YIELDS
WEEKLY SERIES
PERCENT PER ANNU

[CENT PER ANNUM

11

9

UNITED KINGDOM

UNITED STATES

10
8
9
7

8
6

5

7

i

i

i

l

i

'

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l

•

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I

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6
10

10

FRANCE

CANADA

9
9

8
8
7
7

6
8

6

I

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5

6
JAPAN

SWITZERLAND
7

5

6

4

5

3

4
9

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iW/i

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2
9

GERMANY

NETHERLANDS
8

8

7

7

6

6

5

_L_L




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1993

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1995

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1993

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1

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1995

•

5

CHART 10

STOCK INDICES
WEEKLY SERIES
RATIO SCALE
1986=100

RATIO SCALE
1986=100

220
UNITED STATES

SWITZERLAND

180

—

160

CANADA

FRANCE




—

JAPAN

GERMANY

110

200

UNITED KINGDOM

NETHERLANDS

1993

1995

1993

1995

100

24 -May-95 31-May-95 7 - Jun-95
Chart 1.

14-Jun -95 21-Jun-95

Spot Exchange Rates and Indices

Noon buying rates (U.S. cents, weekly averages)
Belgian franc
Canadian dollar
French franc
German mark
Italian lira
Japanese yen
Netherlands guilder
Swiss franc
U.K. pound

3.3644
73.430
19.513
69.230
0.05958
1.14627
61.849
83.025
157.05

3.4853
72.953
20.303
71.626
0.06106
1.19223
63.977
86.694
159.88

3.4502
72 .597
20. 161
70. 798
0.06108
1.17976
63. 295
85. 862
159 .20

3.4631
72 .503
20. 247
71. 158
0.06070
1.18499
63. 586
86. 241
159 .71

3.4740
72.500
20.362
71.389
0.06075
1.18076
63.764
86.117
160.20

132.57
73.19
87.93
194.75
34.20
300.13
177.56
267.10
63.52

137.34
72.71
91.49
201.49
35.05
312.17
183.67
278.91
64.67

135 .96
72 .36
90 .85
199 .16
35 .06
308 .90
181 .71
276 .23
64 .39

136 .47
72 .26
91 .24
200 .17
34 .84
310 .27
182 .54
277 .45
64 .60

136.89
72.26
91.75
200.82
34.87
309.16
183.05
277.05
64.79

118 .02
60 .02
76 .00
190 .48
27 .22
298 .85
161 .29
51 .29
243 .70
52 .12
82 .62

118 .21
59 .79
76 .17
191 .13
26 .97
299 .58
161 .70
51 .39
244 .24
52 .17
82 .39

118.45
59.71
76.55
191.59
26.96
297.98
161.97
51.05
243.58
52.28
82.26

-1.31
-1.49
1.63
-4.58
5.02
1.69
2.88
-0.52

-1 .29
-1 .40
1 .52
-4 .66
4 .88
1 .42
2 .62
-0 .57

-1 .07
-1 .32
1 .58
-4 .71
5 .02
1 .77
2 .83
-0 .52

-0.81
-1.17
1.54
-4.89
4.91
1.77
2.95
-0.56

382.53

385.34

384 .20

386 .74

390.35

5.99
5.94
7.64
7.51
4.42
1.24
4.36
3.08
5.90

6.02
5.94
7.62
7.56
5.22
1.24
4.18
3.13
5.91

6 .03
5 .94
7 .45
7 .47
4 .45
1 .24
4 .13
3 .14
6 .05

6 .02
5 .94
7 .22
7 .40
4 .46
1 .21
4 .08
3 .04
6 .20

6.03
5.94
7.19
7.28
4.44
1.24
4.06
2.61
6.58

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

-1.28
-1.18
1.62
-4.15
4.89
1.69
2.75
-0.44

Gold Price in London, Afternoon Fixing

U.S. dollars per fine ounce
Chart 4.

118.55
59.96
76.10
191.80
27.04
300.40
162.13
50.85
244.64
52.03
82.01

3-Month Forward Exchange Rates, Premium or Discount

Canadian dollar
French franc
German mark
Italian lira
Japanese yen
Netherlands guilder
Swiss franc
U.K. pound
Chart 3.

116.96
61.86
74.65
189.17
26.98
294.81
160.18
51.23
239.48
52.29
84.39

Call Money Rates

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




24-May-95 31-May-95 7-Jun-95
Chart 5.

3-Month Interest 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 sterling
Weighted average foreign interest rate
(G-10 Countries)
Chart 6.

6 .02
7 .52
7 .10
4 .47
1 .34
4 .39
3 .30
6 .51
4 .89

5 .97
7 .50
7 .42
4 .45
1 .24
4 .30
3 .13
6 .54
4 .84

5.84
7.34
7.20
4.43
1.15
4.26
3.19
6.56
4.76

5.95
7.22
7.21
4.40
1.15
4.21
3.18
6.56
4.75

5.93
6.91
7.10
4.40
1.18
4.20
3.00
6.57
4.72

5 .94
5 .94
5 .99
6 .02
6 .06
6 .11

5 .94
5 .94
5 .98
5 .97
5 .96
5 .96

5.94
5.90
5.90
5.84
5.77
5.69

5.94
5.94
5.94
5.93
5.86
5.85

5.94
5.94
5.96
5.92
5.79
5.75

Euro-Dollar Deposit Rates

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

14-Jun-95 21-Jun-95

Selected Euro-dollar & U.S. Monei r Market Rates

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

5 .94
5 .99
-0 .05

5 .94
6 .02
-0 .08

5.94
6.03
-0.09

5.94
6.02
-0.08

5.94
6.03
-0.09

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

6 .02
6 .02
-0 .01

5 .97
5 .97
-0 .00

5.84
5.84
0.01

5.93
5.95
-0.02

5.92
5.93
-0.01

Euro-dollar deposit
Interbank sterling (London), covered
Differential

6..02
6..06
-0..04

5..97
6,.01
-0..04

5.84
5.98
-0.14

5.93
6.03
-0.10

5.92
6.00
-0.08

U.S. commercial paper
Canadian finance paper, covered
Differential

6..05
6..21
-0.,16

6..02
6..16
-0. 14

5.90
6.02
-0.12

5.96
6.13
-0.17

5.95
6.08
-0.13

Euro-dollar deposit
Interbank DM (Frankfurt), covered
Differential

6. 02
6. 11
- 0 . 09

5. 97
6. 09
- 0 . 13

5.84
5.96
-0.12

5.93
6.00
-0.07

5.92
5.96
-0.04

Euro-dollar deposit
Swiss interbank, covered
Differential

6. 02
6. 07
- 0 . 06

5. 97
6. 02
- 0 . 05

5.84
5.83
0.01

5.93
6.03
-0.10

5.92
5.97
-0.05

8. 03
7. 43
6. 80
3. 30
4 .76
6. 88
8. 02
6. 57

7. 98
7. 39
6. 65
3. 04
4 .69
6. 76
7. 85
6. 35

7.74
7.37
6.65
2.97
4.67
6.74
7.76
6.13

7.88
7.44
6.72
3.04
4.71
6.80
7.96
6.26

7.88
7.50
6.74
3.05
4.65
6.86
8.11
6.16

148.00
152.79
116.45
96.75
156.64
227.93
195.30
208.76

148.25
151.01
115,.10
94 .83
156 .70
227 .33
194 ,
.11
210.57

149.17
153.75
118.12
95.53
157.73
228.35
197.79
210.95

149.70
148.62
116.70
90.46
156.54
228.20
194.91
211.98

Chart 8.

Chart 9.

Interest Arbitrage, 3-Month Funds

UC1J.WCU1CI DV nd Yields
10-year maturity, where available

Canada
France
Germany
Japan
Switzerland
Netherlands
United Kingdom
United States
Chart 10.

Stock Indices (Wednesday figures)

Canada
France
Germany
Japan
Netherlands
Switzerland
United Kingdom
United States
Financial Times Ordinary, NYSE Composite



150.97
148.35
118.24
91.77
156.59
230.64
196 .52
214.37
to SBF250

..'of gov/..

FEDERAL RESERVE statistical release
June 26, 1995

H.10(512)

FOREIGN EXCHANGE RATES
FOR THE WEEK ENDING

JUNE 23, 1995

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
^AUSTRALIA
AUSTRIA
BELGIUM
CANADA
CHINA,P.R.
DENMARK
*EURO COMMUNITY
FINLAND
FRANCE
GERMANY
GREECE
HONG KONG
INDIA
*IRELAND
ITALY
JAPAN
MALAYSIA
MEXICO
NETHERLANDS
*NEW ZEALAND
NORWAY
PORTUGAL
SINGAPORE
SOUTH AFRICA
SOUTH KOREA
SPAIN
SRI LANKA
SWEDEN
SWITZERLAND
TAIWAN
THAILAND
*UNITED KINGDOM
MEMO:
xxUNITED STATES

MONETARY
UNIT
DOLLAR
SCHILLING
FRANC
DOLLAR
YUAN
KRONE
ECU
MARKKA
FRANC
D. MARK
DRACHMA
DOLLAR
RUPEE
POUND
LIRA
YEN
RINGGIT
PESO
GUILDER
DOLLAR
KRONE
ESCUDO
DOLLAR
RAND
WON
PESETA
RUPEE
KRONA
FRANC
DOLLAR
BAHT
POUND
DOLLAR

Jun. 19

(CURRENCY UNITS PER DOLLAR)
Jun. 22
Jun. 21
Jun. 20

Jun. 23

0.7267
9.876
28.860
1.3813
8.3202
5.4855
1.3157
4.3275
4.9170
1.4043
227.29
7.7353
31.400
1.6350
1653.25
84.95
2.4415
6.2250
1.5722
0.6712
6.2545
147.85
1.3955
3.6650
764.30
121.990
50.400
7.2885
1.1645
25.880
24.670
1.5995

0.7243
9.806
28.660
1.3798
8.3200
5.4485
1.3237
4.3025
4.8925
1.3943
225.75
7.7357
31.400
1.6340
1640.00
84.65
2.4392
6.2200
1.5609
0.6722
6.2145
146.94
1.3967
3.6565
763.80
121.290
50.200
7.2730
1.1570
25.910
24.660
1.6030

0.7255
9.786
28.600
1.3760
8.3209
5.4375
1.3267
4.2975
4.8800
1.3915
225.36
7.7350
31.390
1.6350
1634.00
84.38
2.4370
6.2800
1.5579
0.6725
6.2020
146.57
1.4000
3.6545
763.50
121.050
50.000
7.2740
1.1520
25.880
24.660
1.6049

0.7207
9.840
28.760
1.3763
8.3218
5.4660
1.3200
4.3180
4.8990
1.3991
226.87
7.7355
31.380
1.6260
1636.00
84.65
2.4390
6.2550
1.5668
0.6705
6.2345
147.65
1.3997
3.6490
763.50
121.530
50.450
7.2770
1.1580
25.840
24.680
1.5998

0.7208
9.761
28.530
1.3743
8.3215
5.4180
1.3295
4.2845
4.8645
1.3878
224.80
7.7358
31.390
1.6400
1618.75
84.50
2.4383
6.2500
1.5546
0.6700
6.1855
146.07
1.3975
3.6420
763.60
120.540
50.080
7.2425
1.1475
25.790
24.670
1.6045

82.45

82.04

81.84

82.14

81.65

*VALUE IS U.S. DOLLARS
KXINDEX 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.
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