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(516/517) t Selected Interest & Exchange Rates Weekly Series of Charts i I M a r c h " • 1 9 8 6 Prepared by the FINANCIAL MARKETS SECTION S E S S I O N A L 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 5 : A L E MARCH 9 7 3 = 1 0 0 200 180 RATIO MARCH 1 9 7 1=100 50 FOREIGN CURRENCY PRICE OF U.S. DOLLAR ITALIAN LIRA 45 160 40 140 35 120 30 100 25 180 180 160 GERMAN MARK JAPANESE YEN 160 140 140 120 120 100 100 90 90 80 80 140 120 140 — D U T C H CANADIAN DOLLAR GUILDER - 120 100 100 90 90 80 80 70 70 60 I I I IlllllllllI 90 80 60 90 FRENCH FRANC U.K. POUND 80 70 70 60 60 50 50 40 40 120 100 240 SWISS FRANC BELGIAN FRANC - 200 90 180 80 160 70 140 60 - I 50 1984 1986 I 1984 I lull I lull I 120 100 1986 CHART 2 3-MONTH FORWARD EXCHANGE RATES PREMIUM (+) OR (-) AVERAGES FOR WEEK ENDING WEDNESDAY P E R C E N T PER A f :ENT PER ANNUM 4 8 JAPANESE YEN CANADIAN DOLLAR + — 0 \ 4 A — — + 0 8 4 4 4 12 U. K. POUND SWISS FRANC + 8 0 4 \/* - 4 — 8 8 0 GERMAN MARK 8 DUTCH GUILDER 4 4 0 0 9 8 FRENCH FRANC ITALIAN LIRA + 0 0 8 8 16 16 24 24 M i l 32 1984 1986 I l 1984 l 32 1986 CHART 3 PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY U.S. D< ARS PER FINE O U N C E U.S. D O L L A R S PER F I N E C 520 520 500 500 480 480 460 460 12.5 Kg BARS 440 440 A F T E R N O O N F I X I N G PRICE 420 420 400 400 380 380 360 360 340 340 320 320 300 300 280 280 260 J L 1983 i 1984 i I i i I 1985 i i I i i I i i I i i I 1986 i i I i i 260 CHART 4 CALL MONEY RATES WEEKLY SERIES P E R C E N T PER AF NT PER ANNUM 20 20 16 16 FRANCE U. S. FEDERAL FUNDS 12 12 8 8 4 4 JAPAN 0 0 20 20 16 SWITZERLAND 16 CANADA 12 12 8 8 4 4 I IIIIII 0 i m u m 11 20 20 16 16 UNITED KINGDOM 12 - GERMANY 8 4 0 8 4 NETHERLANDS 0 I 1984 12 1086 I I I I 1984 I M I H I H 1986 I H 0 CHART 5 3-MONTH INTEREST RATES WEEKLY SERIES NT PER ANNUM P E R C E N T PER AN JUM 14 16 U.S. CD'S CANADIAN FINANCE CO. PAPER 12 k 10 8 14 - 12 10 WEIGHTED AVERAGE FOREIGN RATE 6 8 I 4 I I 6 16 16 U.K. INTERBANK STERLING FRENCH INTERBANK RATE 14 14 12 12 10 10 8 8 10 10 NETHERLANDS INTERBANK RATE 8 GERMAN INTERBANK RATE - 6 6 4 2 8 • — I I I I I I I I I I I 4 2 8 9 SWISS INTERBANK RATE 8 - 6 JAPANESE GENSAKI RATE 4 7 6 - I 5 1984 1986 I 11111111111 I 1984 2 0 1986 CHART 6 EURO -DOLLAR DEPOSIT RATES LONDON AVERAGES FOR WEEK ENDING WEDNESDAY P E R C E N T PER AL NUM ENT PER ANNUM 16 16 3-MONTH OVERNIGHT 14 14 12 12 10 10 8 8 6 6 16 16 6-MONTH 7-DAY 14 14 12 12 10 10 8 8 6 6 16 16 1-MONTH 1-YEAR 14 14 12 12 10 10 8 8 6 6 1904 1966 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 P E R C E N T PER ANNUM P E R C E N T PER ANNUM 16 16 14 14 FEDERAL FUNDS EURO-DOLLAR DEPOSITS DASHED LINE 3-MONTH 12 12 10 10 90-DAY CD* S OVERNIGHT EURO-DOLLAR DEPOSITS I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I 4 2 DIFFERENTIAL »V I A a>A » /1 I I DIFFERENTIAL J\ .A zx im I I aA IA /v I ! I I I I I I I I I 1984 1 PERCENT ON DIFFERENTIAL SCALE = 2 PERCENT ON RATE SCALE I III II I II 1986 I I I I I I I I I I I I I I 1984 1986 CHART 8 INTEREST ARBITRAGE: 3-MONTH FUNDS DIFFERENTIAL: PLUS(+), INDICATES FAVOR DOLLAR ASSETS AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER Ah NT PER ANNUM 18 18 14 CANADIAN FINANCE CO. PAPER, COVERED EURO-DOLLAR DEPOSITS DASHED LINE 14 10 10 INTERBANK STERLING 6 COVERED LONDON I 2 6 U. S. COMMERCIAL PAPER I I I ll I I I I I I I I l l l l l l I I I JLLLL 2 2 2 DIFFERENTIAL DIFFERENTIAL + + 0 0 2 2 18 18 14 INTERBANK DM SWISS INTERBANK (SF) COVERED COVERED FRANKFURT 14 10 6 10 EURO-DOLLAR DEPOSITS EURO-DOLLAR DEPOSITS DASHED LINE 6 DASHED LINE 2 2 2 DIFFERENTIAL 2 DIFFERENTIAL + + 0 0 I 2 1984 1986 PERCENT ON DIFFERENTIAL S C A L E = 2 PERCENT ON RATE S C A L E I 1984 I 2 1986 CHART 9 LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES NT PER ANNUM PERCENT PER AN 17 17 UNITED STATES 15 - CANADA — 15 13 13 11 11 9 9 I 7 I I I I I 7 9 15 13 UNITED KINGDOM 7 SWITZERLAND 11 5 9 3 7 I I I I I I I 1 ! i 10 10 GERMANY JAPAN 8 8 6 - I 4 I I I I I I III I II I I II 6 4 18 18 U. S. CORPORATE MONTHLY 16 16 FRANCE v Aaa BONDS 14 - 14 12 — 12 INETHERLANDS - 10 10 MONTHLY 8 8 I 6 1984 1986 I I I I 1984 I I III IIIII I II 6 1986 CHART 1 0 INDUSTRIAL STOCK INDICES WEEKLY SERIES RATIO S C A L E RATIO S C A L E 1969=100 1969=100 — 300 260 - - 220 180 140 UNITED STATES - / - /WvvHVxZX 340 300 - I I I I I - - I NETHERLANDS - J . 140 a a / 380 — 340 - 300 - 260 — 220 — yv - 140 140 100 i i 340 I I - - - - J ~ J ~ A - 220 180 140 A — ' i 11111111111 i - - - 140 I I I I ,|,, I ,,,, 100 285 - J K, Kj I — - - - ( - - i I I 1964 I iilnliilii - 195 — 165 - 105 I I I I I IIIIIIIIIM CANADA 11111111111 300 w — 260 - 220 - 180 MIMIIIIM 140 I L L I I 1994 I U||||,||1, 75 340 YV . I I I I I I i I I I I 1966 225 — — i - 135 — Y v 255 V y ^ T — i > - J — - JAPAN 220 - 180 GERMANY M 111111 M I ! i 300 - 260 / SWITZERLAND A 100 340 - J — A/ *vA / A 260 IIIIIIIIIM - - IIIIIIIIIM I - - I — — 300 I — FRANCE 180 180 r\i — - M - I J 100 220 iiliilnhi 260 180 / — I — 260 UNITED KINGDOM - - 100 220 sj 300 - 1966 LAST VALUE PLOTTED DATE VALUE S E R I E S NAME CHART 1. SPOT E X C H A N G E R A T E S AND I N D I C E S WEEKLY A V E R A G E S , NOON BUYING R A T E S (U.S. CENi'S) GERMAN MARK J A P A N E S E YEN DUTCH GUILDER U.K. POUND C A N A D I A N DOLLAR FRENCH F R A N C SWISS F R A N C BELGIAN F R A N C ITALIAN LIRA SWEDISH KRONA INDICES, M A R C H 1973 BASE RATES = 12 12 12 12 12 12 12 12 12 12 44.21 0. 55584 39. 15 145.51 71.27 14.37 52. 1b 2.15875 0.06497 13.70 MARCH MARCH MARCH MARCH MARCH MARCH MARCH MARCH MARCH 12 12 12 12 12 12 12 12 12 124.37 145.54 112.40 58.85 71.03 64.75 167.79 85.07 36.91 12 12 12 12 12 12 12 12 12 12 12 115.94 149. 19 173.42 128.34 63.34 78.41 70. 13 191.97 95.34 38.77 67.68 12 12 12 12 12 12 12 12 -3.89 -4.25 3. 15 -6.93 3.79 1.96 2. 04 -9.92 100 GERMAN MASK J A P A N E S E YEN DUTCH GUILDER U.K. P O U N D C A N A D I A N DOLLAR FRENCH F R A N C SWISS F R A N C BELGIAN F R A N C ITALIAN LIRA WEIGHTED A V E R A G E EXCHANGE V A L U E INDICES, MAR (G-10 C O U N T R I E S PLUS S W I T Z E R L A N D ) U.S. DOLLAR G E R M A N MARK J A P A N E S E YEN DUTCH GUILDER U.K. P O U N D C A N A D I A N DOLLAR FRENCH F R A N C SWISS F R A N C BELGIAN F R A N C ITALIAN L I R A SWEDISH KBONA MARCH MARCH MARCH MARCH MARCH MARCH MARCH MARCH MARCH MARCH 1973 = 100 MARCH MAfiCH MARCH MAfiCH MARCH MARCH MARCH MARCH MARCH MAfiCH MARCH CHART 2. 3 - M O N T H F O R W A R D E X C H A N G E RATES, PREMIUM O'd D I S C O U N T C A N A D I A N DOLLAR U.K. POUND G E R M A N MARK FRENCH F R A N C SWISS F R A N C DUTCH G U I L D E R J A P A N E S E YEN ITALIAN LIRA MARCH MARCH MARCH MARCH MARCH MARCH MARCH MARCH S E R I E S DANE LAST VALUE PLOTTED DATE VALUE CHART 3. G O L D PRICE IN LONDON, AFTERNOON FIXING U.S. DOLLARS PER FINE OUNCE M A R C H 12 342.97 CHART 4. C A L L HONEY R A T E S MARCH MARCH MARCH MARCH MARCH MARCH MARCH MARCH MARCH 12 12 12 12 12 12 12 12 12 7.52 7.55 13.10 13.40 4.94 5.53 8.52 5.69 1.00 MARCH MARCH MARCH MARCH MARCH MARCH MARCH MARCH MARCH 12 12 12 12 12 12 12 12 12 7.26 4.44 5. 53 11.46 11.94 3. 70 8.26 5. 46 7.55 MARCH MARCH MARCH MARCH MARCH MARCH 12 12 12 12 12 12 7. 55 7.51 7. 50 7.41 7.41 7.48 OVERNIGHT EURO-DOLLAR DEPOSITS U.S. F E D E R A L FUNDS DIFFERENTIAL M A R C H 12 MARCH 12 MARCH 12 7. 55 7.52 0.03 3-MONTH EURO-DOLLAR DEPOSIT RATE U.S. 90-DAY CD'S, SECONDARY M A R K E T DIFFERENTIAL MARCH 12 MARCH 12 MARCH 12 7.41 7.26 0. 15 U.S. FEDERAL FUNDS O V E R N I G H T EURO-DOLLAR DEPOSITS U. K. CANADA GERMANY JAPAN FRANCE NETHERLANDS SWITZERLAND CHART 5. 3-MONTH INTEREST R A T E S U.S. 90-DAY CD'S, SECONDARY M A R K E T GERMAN INTERBANK LOAN J A P A N E S E GENSAKI RATE C A N A D I A N F I N A N C E PAPER INTERBANK STERLING SWISS INTERBANK LOAN FRENCH INTERBANK RATE NETHERLANDS INTERBANK RATE WEIGHTED A V E R A G E FOREIGN INTEREST R A T E (G-10 C O U N T R I E S PLUS SWITZERLAND) CHART b. EURO-DOLLAR DEPOSIT RATES: LONDON OVERNIGHT 7-DAY 1-MONTH 3-tiONTH 6-MONTH 1-YEAR CHART 7. S E L E C T E D EURO-DOLLAR AND U.S. MONEY M A R K E T S A T E S SERIES NAME LAST VALUE PLOTTED DATE VALUE CHART 8. INTEREST ARBITRAGE, 3-MONTH PONDS EURO-DOLLAR DEPOSIT INTERBANK STERLING (LONDON), COVERED DIFFERENTIAL 8ARCH 12 MARCH 12 MARCH 12 7.41 7.56 -0.15 U.S. COMMERCIAL PAPER CANADIAN FINANCE PAPER, COVERED DIFFERENTIAL MARCH 12 MARCH 12 MARCH 12 7. 18 7. 46 EURO-DOLLAR DEPOSIT INTERBANK DM (FRANKFURT), COVERED DIFFERENTIAL MARCH 12 MARCH 12 MARCH 12 7.41 7.62 EURO-DOLLAR DEPOSIT SWISS INTERBANK, COVERED DIFFERENTIAL MARCH 12 MARCH 12 MARCH 12 •0.12 MARCH 7 MARCH 7 JAN. FEB. 14 FEB. 2 8 FEB. 28 DEC. MARCH 7 8.01 5.90 6.29 4.36 9.96 10.29 6.96 9.30 0.28 •0.21 7.41 7. 53 CHART 9. LONG TERM GOVERMENT BOND YIELDS UNITED STATES GERMANY JAPAN (MONTHLY) SWITZERLAND CANADA FRANCE NETHERLANDS (MONTHLY) UNITED KINGDOM U.S. CORPORATE AAA BONDS CHART 10. 9.67 STOCK INDICES UNITED STATES UNITED KINGDOM CANADA GERMANY SWITZERLAND NETHERLANDS FRANCE JAPAN FEB. MARCH MARCH MARCH MARCH MARCH MARCH MARCH MARCH 5 5 5 5 5 5 5 5 228.30 286.09 286.18 285.21 191.82 292.94 310.93 292. 14 FEDERAL RESERVE statistical release H.10 (512) MARCH 14, 1986 FOREIGN EXCHANGE RATES FOR T H E WEEK E N D I N G M A R C H 14, 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 BRAZIL CANADA CHINA,P.R. DENMARK FINLAND FRANCE GESMANY GREECE HONG KONG INDIA •IRELAND ITALY JAPAN MALAYSIA NETHERLANDS •NEW Z E A L A N D NORWAY PORTUGAL SINGAPORE •SOUTH AFRICA SOUTH KOREA SPAIN SRI L A N K A SWEDEN SWITZERLAND TAIWAN THAILAND •UNITED KINGDOM DOLLAR SCHILLING FRANC CRUZADO 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: fUNITED STATES DOLLAR MAR. 10 70. 16 16. 020 46. 680 13. 8 4 3970 3. 2 1 5 9 8.4 3 5 0 5. 1700 7. 0 1 2 5 2.2 8 0 5 142. 100 7. 8100 12, 2 5 0 0 132. 65 1552. 00 180. 7 0 2, 5 2 3 5 2, 5 7 4 5 52. 100 7, 2 1 1 0 149. 750 2, 1645 50. 2 5 886, 70 143. 600 27. 613 7. 2 9 4 0 1. 9 3 7 0 39. 130 26. 390 144. 30 1. 116.68 C U R R E N C Y U N I T S PER D O L L A R ) BAR. 12 HAH. 11 70.50 15.900 46.400 13.84 1.3995 3.2159 8.3810 5.1400 6.9735 2.2655 141.000 7.8115 12.3500 133.45 1541.00 179.90 2.5245 2.5560 52.500 7.1675 1*8.850 2.1645 50.40 887.20 142.800 27.613 7.2550 1.9220 NA 2 6 . 4 40 145.55 116.01 70. 40 16. 030 46. 750 13. 84 3980 3. 2159 4565 5. 1620 7. 0 3 0 0 2m 2 8 4 0 141. 3 0 0 7. 8100 1. 8. 12. 2000 132. 35 1554. 00 180. 20 2.5 1 6 0 2.5 7 8 0 52. 950 7. 2000 150. 000 2. 1625 50. 30 887. 00 143. 600 27. 6 1 7 7. 2810 1.9 3 3 0 39. 150 26.4 2 0 146. 70 116.51 MAR. 13 70. 45 16. 0 9 0 47. 0 5 0 13. 8 4 1. 3 9 6 9 3. 2 1 9 1 8.4 9 0 0 5. 1825 7. OoOu 2.2 9 5 5 142. 800 7. 8105 12. 3000 131. 60 1563. 00 179. 90 2.5 2 1 5 2.5 9 1 5 52. 9 0 0 7. 2 1 5 0 150. 300 2. 1660 50. 20 886. 60 144. 100 27. 6 1 7 7. 2 9 7 5 1. 9 3 3 0 39. 150 26. 4 4 0 145. 93 116.90 M A R . 14 70. 32 15. 850 46. 380 13. 84 3895 3. 2191 8.3 b 5 0 5. 1080 6. o910 2.26 JO 141. 000 7. 8132 12. 2500 133. 75 1539. 00 177. 15 2. 5 2 0 5 2. 5 5 4 5 52. 800 7. 1380 148. 520 2.1600 50. 05 887. 10 142. 700 2 7 . 617 7. 2250 1. 9050 39. 130 2b.440 146. 10 1. 114.91 fINDEX U F W E I G H T E D A V E R A G E ' E X C H A N G E VALflE UF U.S. D O L L A R A G A I N S T C U R R E N C I E S O F ' O T H E R G - 1 0 C O U N T R I E S . M A R C H 1973 = 100. H E I G H T S ARE 1 9 7 2 - 7 6 G L O B A L T R A D E OF EACH O F T H E 10 C O U N T R I E S . S E R I E S R E V I S E D AS OF A U G U S T 1978. FOR D E S C R I P T I O N A N D BACK D A T A , SEE " I N D E X OF THE WEIGHTED-* AVER A G S E X C H A N G E V A L U E OF T H E U . S . D O L L A R : R E V I S I O N " ON P A G E 700 OF T H E AUGUST 1978 F E D E R A L R E S E R V E B U L L E T I N . • VALUE IS U.S. C E N T S
@FedFRASER