Full text of H.13 Selected Interest and Exchange Rates, Weekly Series of Charts : March 26, 1990

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Selected Interest 8?
Exchange Rates
Weekly Series of Charts

March 26,1990

DIVISION OF
INTERNATIONAL FINANCE

Prepared by the
FINANCIAL MARKETS
SECTION

BOARD OF GOVERNORS
FEDERAL RESERVE SYSTEM
Washington, DC. 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 same issue to one address, $22.50 per
year or $.55 each. Elsewhere. $30.00 per year or S 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 m 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
140

•

'

—

RATIO SCALE
MARCH 1973=100
140

FOREIGN CURRENCY
PRICE OF U.S. DOLLAR

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BELGIAN FRANC

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CANADIAN DOLLAR

U.K. POUND

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JAPANESE YEN

—

SWISS FRANC

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GERMAN MARK
DUTCH GUILDER

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ITALIAN LIRA
—

FRENCH FRANC

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1988

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1990

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1988

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1990

i

CHART 2

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

4

PERCENT PER ANNUM

(

CANADIAN DOLLAR

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»

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U.K. POUND

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GERMAN MARK

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JAPANESE YEN

1

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1

SWISS FRANC

DUTCH GUILDER

^ y v A ^ A /

X "
\V

—L

1

1

1

1

1

1

1

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1

1

l

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FRENCH FRANC

W

V

v

V

1

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1

1 1

ITALIAN LIRA

A
y

1

W

"S

X
-

—L-L..I 1 1 I I 1 1 1 1 1



1988

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1990

1

1

1

1

1

1 1
1988

1

1 1

1

1

1

1 1
1990

12

CHART 3

PRICE OF GOLD IN LONDON
AVERAGES FOR WEEK ENDING WEDNESDAY
U.S.

52C

OLLARS PER FINE OUNCE

U.S. DOLLARS PER FINE O

500

12.5 Kg BARS

480

AFTERNOON FIXING PRICE

460

440

420

400

380

360

340

320

1987




1988

1989

1990

CHART 4

CALL MONEY RATES
WEEKLY SERIES
PERCENT PER ANNUM

PERCENT PER ANNUM

16

16

12

FRANCE

U.S. FEDERAL FUNDS

12

JAPAN

0
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J—L
16

12

12
CANADA
GERMANY

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UNITED KINGDOM




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SWITZERLAND

NETHERLANDS

19 88

1990

1988

1990

CHARTS

3-MONTH INTEREST RATES
WEEKLY SERIES
PERCENT PER ANN

ENT PER ANNUM

12

12
FRENCH INTERBANK RATE

10

10

U.S. CD'S

8

8

6

6
WEIGHTED AVERAGE
FOREIGN RATE

4
2

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2
16

16

14

14

U.K. INTERBANK STERLING

CANADIAN FINANCE CO.
PAPER

12

12

10

10

8

8
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6
16

10

SWISS INTERBANK RATE

GERMAN INTERBANK RATE

8

12

6

8

4

4
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2

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'

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0
10

10
NETHERLANDS INTERBANK RATE

8

8

JAPANESE GENSAKI RATE

6

6

4

4

2

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1988

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1990

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1988

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1990

2

CHART 6

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

PERCENT PER ANNUM

14

14

OVERNIGHT

12

3-MONTH

12

10

10 —

4
14

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7-DAY

12

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6-MONTH

12

10

10

4
14

4
14

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1-MONTH

12

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1-YEAR

4
14

12

10

10

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1988

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1990

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

14

14

12

12

10

OVERNIGHT

EURO-DOLLAR DEPOSITS .

FEDERAL FUNDS

90-DAY CD'S

DASHED LINE

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10

3-MONTH

EURO-DOLLAR DEPOSITS

DASHED LINE

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DIFFERENTIAL

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DIFFERENTIAL

1
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1988

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1988

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1990

CHARTS

INTEREST ARBITRAGE: 3-MONTH FUNDS
DIFFERENTIAL: PLUS(+), INDICATES FAVOR DOLLAR ASSETS
AVERAGES FOR WEEK ENDING WEDNESDAY
PERCENT PER ANNUM
16

PERCENT PER ANNUM
16

COVERED LONDON

U.S. COMMERCIAL PAPER

EURO-DOLLAR DEPOSITS

DASHED LINE

DASHED LINE

—

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DIFFERENTIAL

DIFFERENTIAL

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CANADIAN FINANCE
CO. PAPER, COVERED

INTERBANK STERLING

12

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16

16

12

INTERBANK DM

EURO-DOLLAR DEPOSITS

EURO-DOLLAR DEPOSITS
—

DASHED LINE

DASHED LINE

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DIFFERENTIAL

DIFFERENTIAL

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SWISS INTERBANK (SF) COVERED

COVERED FRANKFURT

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1988

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1988

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1990

CHART 9

LONG-TERM GOVERNMENT BOND YIELDS
WEEKLY SERIES
SCENT PER ANNUM

PERCENT PER ANNU

UNITED STATES

CANADA

' • ' ' • ' ' ' • • • ' • • •

i

UNITED KINGDOM

FRANCE

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12

10

8

6
10

1

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SWITZERLAND

1

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1988

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JAPAN

6
1

8

6

4

2

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10

NETHERLANDS

GERMANY

MONTHLY

8

6

4

2

1

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1988

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CHART 10

STOCK INDICES
WEEKLY SERIES
RATIO SCALE
1986=100

RATIO SCALE
1986=100

200
175

— UNITED STATES

200

— NETHERLANDS

150
125

100
75

350

'

•

50
400

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— JAPAN

GERMANY

300
250

200
150

100
200
175

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— SWITZERLAND

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FRANCE

150
125

100
75

50

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200
175

— CANADA

UNITED KINGDOM

150
125

100
75

50

-1

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1988

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1988

1990

21-Feb-90 28-Feb-90 7 - M a r - 9 0
Chart 1.

14-Mar-90 21-Mar-90

Spot Exchange Rates and Indices

Noon buying rates (U.S. cents, w e e k l y a v e r a g e s )
Belgian franc
Canadian dollar
French franc
German mark
Italian lira
Japanese yen
Netherlands guilder
Swiss franc
U.K. pound

2.8580
83.190
17.573
59.691
0.08044
0.69048
52.958
67.244
170.19

2.8515
83. 660
17. 543
59. 375
0.08033
0.67653
52. 708
67. 466
169 .98

2.8152
84.078
17.315
58.501
0.07932
0.66601
51.931
66.440
164.86

2.8152
84.888
17.308
58.495
0.07923
0.65848
51.946
65.787
161.60

2.8358
84.773
17.444
58.924
0.07980
0.65236
52.314
65.982
161.13

112.62
82.91
79.19
167.91
46.18
180.79
152.03
216.33
68.83

112 .36
83 .38
79 .05
167 .03
46 .11
177 .14
151 .31
217 .05
68 .75

110.93
83.80
78.03
164.57
45.53
174.38
149.08
213.75
66.68

110.93
84.61
77.99
164.55
45.48
172.41
149.13
211.64
65.36

111.75
84.49
78.60
165.76
45.80
170.81
150.18
212.27
65.17

105.90
78.35
71.75
171.00
40.19
176.32
145.35
67.39
207.59
60.52
93.88

106.22
79.41
71.95
171.57
40.26
174.65
145.84
67.40
206.10
59.39
94.23

106.79
79.11
72.40
172.61
40.48
172.40
146.60
67.63
206.26
59.06
93.96

- 4 .73
- 2 .42
-0 .13
- 4 .59
1 .02
-0 .62
-0 .82
-6 .49

-4.80
-2.34
-0.03
-4.32
-0.44
-0.51
-0.75
-6.61

-4.62
-2.21
0.09
-4.15
1.01
-0,39
-0.61
-6 .55

-4.71
-2.16
0.14
-4.05
0.81
-0.33
-0.55
-6.53

417.92

412 .01

404.08

399.45

398.78

8.25
8.14
12.60
10.44
7.65
6.50
8.53
8.38
14.80

8 ,27
8,,19
12.,90
10,,15
7.,66
6. 52
8. 52
8. 38
14. 83

8.28
8.13
13.40
10.18
7.81
6.53
8.51
8.38
14.86

8.27
8.16
13.05
10.23
7.84
6.54
8.28
8.38
14.75

8.27
8.16
12.78
10.11
7.77
6.80
8.07
8.08
14.81

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 a v e r a g e exchange v a l u e 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.

.07
.99
.89
.73
.25
.19
.91
.35
.46
.83
.55

-4.49
-2.65
-0.21
-4.56
1.01
-0.78
-0.99
-6.34

Gold Price in London, Afternoon Fixing

U.S. dollars per fine ounce
Chart 4.

106
76
71
171
40
177
145
67
208
61
92

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.

105.99
76.27
71.79
172.19
40.18
180.67
146.17
66.46
207.10
61.70
92.19

Call Money Rates

U.S. federal funds
Overnight Euro-dollar d e p o s i t s
Canada
France
Germany
Japan
Netherlands
Switzerland
United Kingdom




21~Feb~90 28-Feb-90 7 - M a r - 9 0
Chart 5.

3 - M o n t h Interest Rates

U.S. 90-day CD's, s e c o n d a r y market
Canadian finance paper
French interbank rate
German interbank rate
Japanese gensaki rate
Netherlands interbank rate
Swiss interbank rate
U.K. interbank sterling
Weighted a v e r a g e foreign interest rate
(G-10 C o u n t r i e s )
Chart 6.

8 .22
13 .17
11 .11
8 .37
6 .23
9 .04
9 .28
15 .09
10 .21

8 .24
13 .28
10 .76
8 .30
6 .24
8 .91
9 .08
15 .06
10 .14

8 .27
13 .36
10 .70
8 .54
6 .29
8 .88
9 .00
15 .19
10 .19

8 .38
13 .33
10 .63
8 .45
6 .30
8 .79
8 .88
15 .23
10 .15

8 .14
8 .13
8 .19
8 .23
8 .28
8 .51

8 .19
8 .19
8 .21
8 .25
8 .31
8 .58

8 .13
8 .19
8 .25
8 .30
8 .41
8 .64

8 .16
8 .20
8 .30
8 .39
8 .54
8 .81

8 .40
13 .32
10 .64
8 .39
6 .31
8 .73
8 .80
15 .24
10 .13

Euro-Dollar Deposit Rates

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

14-Mar-90 21-Mar-90

8
8
8
8
8
8

.16
.19
.31
.40
.59
.88

Selected Euro-dollar & U.S. Money Market Rates

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

8 .14
8 .25
-0 .11

8 .19
8 .27
-0 .08

8 .13
8 .28
-0 .15

8 .16
8 .27
-0 .11

8 .16
8 .27
-0..11

8 .23
8 .22
0 .00

8 .25
8 .24
0 .01

8 .30
8 .27
0 .03

8 .39
8 .38
0 .01

8..40
8,.40
0 .00

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

8 .23
8 .52
-0 .29

8 .25
8 .32
-0 .07

8 .30
8 .33
-0 .03

8 .39
8 .43
-0 .04

8 .40
8,.55
-0..15

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

8 .14
8 .53
-0 .39

8 .16
8 .40
-0 .25

8 .20
8 .40
-0 .21

8 .27
8 .55
-0 .28

8. 32
8..45
-0. 13

8 .23
8 .16
0 .07

8 .25
8 .17
0 .08

8,.30
8. 51
-0. 21

8 .39
8 .55
-0..16

8. 40
8. 53
-0. 13

8 .23
8 .26
-0 .04

8 .25
8 .23
0 .02

8. 30
8. 23
0. 07

8 .39
8 .25
0 .14

8. 40
8. 24
0. 16

10 .55
10 .58
8 .99
6 .84
6 .28
10,.40
8..52

10 .64
10 .93
8 .96
6 .89
6 .37
10 .42
8..49

10. 70
10, 72
9. 06
7 .06
6 .46
10. 81
8. 59

10 .93
10,.88
9..02
7,.27
6..42
11.,03
8..65

ND
10. 74
8. 93
ND
6. 47
11. 05
8. 60

122..38
134,.60
113,.48
198,.13
101,.72
134,.31
138,.39
133 .11

122 .86
137 .04
113,.28
194,.00
101,.83
132 .81
138,.21
134 .58

.26
.06
.32
.27
.13
.08
,
.31
.57

124,.46
142,.52
118,.22
183 .04
105,.57
133,.78
136,.44
136,.50

124 .79
142 .60
121 .80
171,.89
106,.11
133,.59
137,.43
137,.99

3-month Euro-dollar deposit
U.S. 90-day CD's, secondary market
Differential
Chart 8.

Interest Arbitrage, 3 - M o n t h Funds

Euro-dollar deposit
Interbank DM (Frankfurt), covered
Differential
Euro-dollar deposit
Swiss interbank, covered
Differential
Chart 9.

Long Term Government Bond Y i e l d s

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

Stock Indices (Wednesday figures)

Canada
France
Germany
Japan
Netherlands
Switzerland
United Kingdom
United States

124
139
115
190
103
134
136
136

Indices (in order, rebased to 1986=100) are Toronto Composite, CAC General, FAZ Aktien,
Tokyo SE (Topix), CBS All-General, Swiss Bank Index, Financial T i m e s Ordinary, NYSE Composite



FEDERAL RESERVE statistical release
H.10(512)

March 27, 1990

FOREIGN EXCHANGE RATES
FOR THE WEEK ENDING

MARCH 23, 1990

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:
MONETARY
UNIT

Mar. 19

*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
SRI LANKA
SWEDEN
SWITZERLAND
TAIWAN
THAILAND
*UNITED 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

75.490
11.845
34.990
1.1837
4.7339
6.4600
4.0040
5.6910
1.6828
160.90
7.8150
17.110
158.20
1244.25
153.50
2.7130
1.8960
58.550
6.5575
149.50
1.8740
2.6030
699.00
108.25
40.018
6.1300
1.5087
26.480
25.910
161.03

75.650
11.931
35.270
1.1793
4.7339
6.5055
4.0250
5.7305
1.6965
161.30
7.8150
17.090
156.95
1253.00
153.88
2.7220
1.9112
58.320
6.5940
150.40
1.8745
2.6125
699.70
108.70
40.018
6.1500
1.5167
26.455
25.910
161.05

75.200
12.010
35.470
1.1768
4.7339
6.5410
4.0470
5.7610
1.7085
163.25
7.8140
17.130
155.90
1259.50
154.16
2.7265
1.9231
57.930
6.6250
151.30
1.8795
2.6290
700.10
109.15
40.018
6.1775
1.5210
26.420
25.910
159.45

75.040
12.005
35.380
1.1767
4.7339
6.5235
4.0400
5.7480
1.7050
163.80
7.8140
17.160
156.30
1257.50
155.10
2.7310
1.9185
58.100
6.6135
150.95
1.8820
2.6275
700.50
109.15
40.018
6.1740
1.5150
26.413
26.000
160.10

74.740
12.040
35.490
1.1750
4.7339
6.5380
4.0350
5.7640
1.7105
163.70
7.8140
17.160
155.95
1260.00
153.90
2.7230
1.9251
57.850
6.6200
151.40
1.8805
2.6325
700.90
109.40
40.018
6.1700
1.5185
26.405
25.990
160.40

MEMO:
^UNITED STATES

DOLLAR

93.56

94.00

94.48

94.38

94.41

COUNTRY

(CURRENCY UNITS PER 1
DOLLAR)
Mar. 20
Mar. 21
Mar. 22

Mar. 23

•VALUE IS U.S. CENTS
**IN0EX 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.