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(516/517) Selected Interest & Exchange Rates Weekly Series of Charts March 6,1989 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 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 OF FOREIGN CURRENCIES AND WEIGHTED AVERAGE VALUES (THIN LINE) AVERAGES FOR WEEK ENDING WEDNESDAY SCALE i 1973*100 140 120 RATIOS GALE MARCH 197: 1-100 140 FOREIGN CURRENCY PRICE OF U.S. DOLLAR BELGIAN FRANC 120 100 100 90 90 80 80 70 70 280 280 240 SWISS FRANC JAPANESE YEN 240 200 200 180 180 160 160 140 140 120 120 100 100 - 90 80 CANADIAN DOLLAR 90 U.K. POUND 80 70 70 60 60 50 I I I I I I I LlU 200 180 50 200 GERMAN MARK DUTCH GUILDER 180 160 160 140 140 120 120 100 100 120 60 ITALIAN LIRA 100 90 50 FRENCH FRANC 45 V 80 40 70 35 60 30 I 50 1987 1989 l I l I 1987 I llllllllll1 1989 25 CHART2 3-MONTH FORWARD EXCHANGE RATES PREMIUM (+) OR (-) AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER ANNUM PERCENT PER ANNUM 4 4 U. K. POUND CANADIAN DOLLAR A ^ V <- l / \ y I I I i i I I I i GERMAN MARK I I I I I IIIllllllll IIIllllllII I • — I I I I I I i l l i H i i l ii DUTCH GUILDER VI I I I - SWI S S FRANC I / / A*) JAP ANESEYEN . I + 0 - V I I I n i l M i l l II I I I I I I FRENCH FRANC 1987 1989 1987 1989 CHARTS PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY U.S. U.S. DOLLARS PER FINE Ol NCE -LARS PER FINE OUNCE 520 520 500 500 12.5 Kg BARS AFTERNOON FIXING PRICE 480 480 460 460 440 440 420 420 400 400 380 380 360 360 340 340 320 320 300 300 1986 1987 1988 1989 CHART4 CALL MONEY RATES WEEKLY SERIES PERCENT PERANI :ENTPER ANNUM 16 16 12 U.S. FEDERAL FUNDS 12 FRANCE 8 8 JAPAN 4 4 M 0 I l l I I 0 16 16 CANADA 12 8 12 GERMANY 8 4 4 iiLu 0 0 16 20 UNITED KINGDOM SWITZERLAND 16 12 12 8 8 4 1 NETHERLANDS 0 1987 1989 4 0 1987 1989 CHARTS 3-MONTH INTEREST RATES WEEKLY S E R I E S PEI ENT PER ANNUM PERCENT PER AW 12 12 FRENCH INTERBANK RATE 10 10 U.S. C D ' S 8 8 6 6 WEIGHTED AVERAGE FOREIGN RATE 4 4 2 2 16 16 14 14 U.K. INTERBANK STERLING CANADIAN FINANCE C O . PAPER 12 / — - 10 10 8 6 - I I I I I - I I I I I I I 8 6 8 8 6 12 GERMAN INTERBANK RATE - S W I S S INTERBANK RATE - 4 6 4 2 - I 0 I I I I 2 0 I 10 10 8 8 J A P A N E S E GENSAKI RATE 6 6 4 4 2 2 1987 1989 1987 1989 CHART 6 EURO-DOLLAR DEPOSIT RATES LONDON AVERAGES FOR WEEK ENDING WEDNESDAY 14 12 14 OVERNIGHT 3-MONTH 12 10 10 8 8 6 6 4 4 14 14 12 7-DAY 6-MONTH 12 10 10 8 8 6 6 4 4 14 14 12 1-MONTH 1-YEAR 12 10 10 8 8 6 6 4 4 1987 CHART7 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 12 1 3-MONTH EURO-DOLLAR DEPOSITS FEDERAL FUNDS DASHED LINE / V v 1 ~ 8 - 6 / J V y / OVERNIGHT EURO-DOLLAR DEPOSITS 10 f* V V - 90-DAY C D ' S DASHED LINE 4 IIIIIIIIIII IIIIIIII I I I I I I II 1 1 1 1 II 1 1 I 1 1111111111 2 2 DIFFERENTIAL DIFFERENTIAL 1 + 0 IIIIIIIIIIIIIIIIIIIIIII 1987 IENTIAL SCALE = 2 PERCENT ON RATE SCALE 1989 I I I I I 1987 I II 1 1 1 1 1 1 1 1 1 1 11111111 1989 II 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 AM ;ENTPER ANNUM 16 16 12 12 CANADIAN FINANCE C O . PAPER, C O V E R E D INTERBANK STERLING COVERED LONDON 8 8 EURO-DOLLAR D E P O S I T S DASHED LINE 4 I 0 I I tillnliilnulliilulHi I I I U.S. COMMERCIAL PAPER DASHED LINE 4 I 0 I I I I 111111lii1111uli111111 2 2 DIFFERENTIAL DIFFERENTIAL + 0 2 + 0 rvvyvvv V v U I I I I I I lllllllllll llllllllllI I I I lllllllllllllllllll 16 16 12 12 INTERBANK DM COVERED FRANKFURT S W I S S INTERBANK (SF) C O V E R E D 8 8 EURO-DOLLAR D E P O S I T S DASHED LINE 4 0 2 I I I I I I I iiIiiIiilii EURO-DOLLAR D E P O S I T S DASHED LINE llll I I 4 I I I I I I I I I I I llll 0 2 2 DIFFERENTIAL DIFFERENTIAL + + 0 0 l 2 l 1987 l 1111 n 1111111 n 1111111 n 1989 I PERCENT ON DIFFERENTIAL SCALE = 2 PERCENT ON RATE SCALE JU 1987 1989 2 CHART9 LONG-TERM GOVERNMENT BOND YIELDS WEEKLY S E R I E S PERCENT PER ANF :ENT PER ANNUM 14 14 12 - UNITED STATES CANADA 12 \ 10 , / vs V 10 8 8 I I I 6 I I l 6 14 14 12 - FRANCE UNITED KINGDOM 12 10 10 8 8 6 6 10 10 8 - SWITZERLAND JAPAN - 6 6 4 - I II 2 I I 4 2 10 8 8 10 NETHERLANDS MONTHLY GERMANY - 6 6 4 2 8 - I I 1987 I 1 1989 I I I I 1987 4 2 I 1989 CHART 10 INDUSTRIAL STOCK INDICES WEEKLY SERIES RATIO SCALE 1969-100 RATIO SCALE 1969-100 600 500 400 - - __ UNITED S T A T E S - A A 300 ' 200 „ A r - 150 i i i i iilnliilii M GERMANY JAPAN 300 — SWITZERLAND 250 FRANCE 200 150 NETHERLANDS - — — I 100 I I I I I M i n i . , I n iilnliilii 600 500 — CANADA 400 ' I/ 300 200 UNITED KINGDOM I I I I I 1987 I fA " IIIMIMI.I 1989 1987 1989 SERIES CHART 1 . L A S T VALUE PLOTTED DAZE VALUE NAME SPOT EXCHANGE BATES AND I N D I C E S WEEKLY AVERAGES, NOON BUYING BATES (U.S. CENTS) MARCH MARCH MARCH MARCH MARCH MARCH MARCH MARCH MARCH MARCH GERMAN MASK J A P A N E S E YEN DUTCH GUILDER U . K . POUND CANADIAN DOLLAR FRENCH FRANC S W I S S FRANC BELGIAN f BANC ITALIAN LIRA SWEDISH KRONA INDICES, MARCH 1 9 7 3 BASE RATES = MARCH MARCH MARCH MARCH MARCH MARCH MARCH MARCH MARCH WEIGHTED AVERAGE EXCHANGE VALUE I N D I C E S , ( G - 1 0 COUNTRIES P L U S SWITZERLAND) U . S . DOLLAR GERMAN MARK JAPANESE YEN DUTCH GUILDER U. K. POUND CANADIAN DOLLAR FRENCH FRANC S W I S S FRANC BELGIAN FRANC ITALIAN LIRA SWEDISH KRONA 3-MONTH FORWARD EXCHANGE R A T E S , CANADIAN DOLLAR U . K . POUND GERMAN MARK FRENCH FRANC S W I S S FRANC DUTCH GUILDER JAPANESE YEN ITALIAN LIRA 1 54.81 0. 78864 48.54 174.52 83.38 16.09 64.21 2.61345 0.07431 15.89 1 1 1 1 1 1 1 1 1 154. 20 6. 139. 70. 83. 72. 206. 102. 42. 19 49 35 59 10 52 58 98 21 1 1 1 1 1 1 1 1 1 1 1 94. 160. 215. 136. 65. 78. 66. 202. 98. 37. 66. 88 07 6b 69 26 36 85 53 91 86 71 1 1 1 1 1 1 1 100 GERMAN MARK J A P A N E S E YEN DUTCH GUILDER U . K . POUND CANADIAN DOLLAR FRENCH FRANC S W I S S FRANC BELGIAN FRANC ITALIAN LIRA CHART 2 . 1 1 MAR 1 9 7 3 = 100 MARCH MARCH MARCH MARCH MARCH MARCH MARCH MARCH MARCH MARCH MARCH PREMIUM OR DISCOUNT MARCH MARCH MARCH MARCH MARCH MARCH MARCH MARCH 1 1 1 1 1 1 1 1 -1.82 -2.91 3.17 0.44 4.04 2.92 5.51 -2.06 SERIES CHART 3 . GOLD P R I C E I N LONDON, AFTERNOON F I X I N G U.S. 4. LAST VALUE PLOTTED DATE VALUE NAME DOLLARS PER F I N E OUNCE MARCH MARCH MARCH MARCH MARCH MARCH MARCH MARCH MARCH 1 1 1 1 1 1 1 1 1 9.80 9.60 11.50 11.00 5.96 4.02 8.93 6.55 4. 88 MARCH MARCH MARCH MARCH MARCH MARCH MARCH MARCH MARCH 1 1 9.91 6.76 4.21 1 1 1 1 1 1 3 . 18 5.85 9.51 7.11 MARCH MARCH MARCH MARCH MARCH MARCH 1 1 1 1 1 1 9.60 9.56 9 . 75 10.03 10. 24 10.50 1 1 12.08 8.26 EURO-DOLLAR D E P O S I T R A T E S : LONDON OVERNIGHT 7-DAY 1-MONTH 3-MONTH 6-MONTH 1-YEAR . 3 8 8 . 11 3-MONTH I N T E R E S T RATES U . S . 9 0 - D A Y C D ' S , SECONDARY MARKET GERMAN INTERBANK LOAN JAPANESE GENSAKI RATE CANADIAN FINANCE PAPER INTERBANK S T E R L I N G S W I S S INTERBANK LOAN FRENCH INTERBANK RATE NETHERLANDS INTERBANK RATE WEIGHTED AVERAGE FOREIGN I N T E R E S T RATE A G - 1 0 COUNTRIES P L U S SWITZERLAND) CHART b . 1 CALL MONEY RATES U . S . FEDERAL FUNDS OVERNIGHT EURO-DOLLAR D E P O S I T S « . K. CANADA GERMANY JAPAN FRANCE NETHERLANDS SWITZERLAND CHART 5 . MARCH SELECTED EURO-DOLLAR AND U . S . HONEY MARKET RATES OVERNIGHT EURO-DOLLAR D E P O S I T S U . S . FEDERAL FUNDS DIFFERENTIAL MARCH MARCH MARCH 1 1 1 9.60 9.80 -0.20 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 MARCH MARCH MARCH 1 1 1 10.03 9.91 0.12 LAST SERIES CHART 8 . INTEREST NAME ARBITRAGE, 0 . S . COMMERCIAL P A P E R CANADIAN F I N A N C E P A P E R , DIFFERENTIAL COVERED COVERED EURO-DOLLAR D E P O S I T I N T E R B A N K DM ( F R A N K F U R T ) , DIFFERENTIAL COVERED EURO-DOLLAR D E P O S I T S W I S S I N T E R B A N K , COVBBED DIFFERENTIAL 1 1 1 10. 03 1 0 . 17 - 0 . 14 MARCH MARCH MARCH 1 1 1 10, 21 - 0 . 43 MARCH MARCH MARCH 1 1 1 10. 03 9. 99 0. 04 MARCH MARCH MARCH 1 1 1 10. 0J 9. 95 0. 07 9. 78 FEB. FEB. FEB. FEB. FEB. FEB. DEC. FEB. 24 24 17 24 2 4 17 24 9. 7. 4. 4. 10. 9. 6. 8. 31 06 47 74 55 23 42 82 CO&POEATE AAA CHART MARCH MARCH MARCH LONG TEEM GOVERMENT BOND Y I E L D S UNITED STATES GERMANY JAPAN SWITZERLAND CANADA FRANCE NETHERLANDS (MONTHLY) U N I T E D KINGDOM U.S. PLOTTED VALUE 3 - M O N T H FUNDS EURO-DOLLAR D E P O S I T INTERBANK S T E R L I N G (LONDON), DIFFERENTIAL CHART 9 . VALUE DATE 10. BONDS 9.33 STOCK I N D I C E S UNITED STATES U N I T E D KINGDOM CANADA GERMANY SWITZERLAND NETHERLANDS FRANCE JAPAN MAY MARCH MARCH MARCH MARCH MARCH MARCH MARCH MARCH 1 1 1 1 1 1 1 1 3 0 8 . 12 365. 8b 351.76 236.36 2 1 3 . 10 313.24 431.96 6 4 7 . 99 FEDERAL RESERVE statistical release H.10(512) MARCH 3, 1989 FOREIGN EXCHANGE RATES FOR THE MEEK ENDING MARCH 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 *1RELAND ITALY JAPAN MALAYSIA NETHERLANDS *NEM ZEALAND NORWAY PORTUGAL SINGAPORE SOUTH AFRICA SOUTH KOREA SPAIN S R I 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 MEMO: SUNITED STATES DOLLAR FEB. 27 (CURRENCY U N I T S PER DOLLAR) FEB. 2 8 MAR. 1 MAR. 2 MAR. 3 79.65 12.800 38.150 1.2035 3.7314 7.1070 4.2780 6.1875 1.8175 152.950 7.8000 15.3300 146.43 1341.00 126.53 2.7320 2.0520 62.450 6.6890 150.750 1.9270 2.4850 676.50 114.350 33.025 6.2880 1.5525 27.800 25.330 174.48 79.88 12.824 38.210 1.1990 3.7314 7.1150 4.2680 6.2060 1.8230 153.500 7.8015 15.3500 146.10 1343.00 126.87 2.7350 2.0585 62.230 6.7090 150.650 1.9310 2.4830 675.80 114.300 33.068 6.2870 1.5549 27.810 25.380 174.40 80.36 12.935 38.500 1.1997 3.7314 7.1565 4.3060 6.2515 1.8365 154.530 7.8010 15.3500 144.95 1354.25 128.10 2.7430 2.0750 61.900 6.7390 152.050 1.9330 2.4900 675.80 115.180 33.098 6.3250 1.5685 27.830 25.380 172.40 80.40 12.958 38.630 1.1935 3.7314 7.1883 4.3130 6.2775 1.8415 154.950 7.8010 15.3400 144.35 1358.50 127.88 2.7430 2.0780 61.880 6.7420 152.280 1.9340 2.5000 675.90 115.550 33.117 6.3360 1.5747 27.840 25.430 172.38 81.28 12.940 38.600 1.1960 3.7314 7.1780 4.3100 6.2570 1.8405 155.360 7.8020 15.3100 144.85 1360.75 127.70 2.7450 2.0780 61.750 6.7360 152.200 1.9320 2.5015 676.00 114.730 33.148 6.3310 1.5747 27.850 25.440 172.30 94.83 94.99 95.72 95.84 95.80 •INDEX OF WEIGHTED AVERAGE EXCHANGE VALUE OF U.S. DOLLAR AGAINST CURRENCIES OF OTHER G-10 COUNTRIES. MARCH 1973 = 100. HEIGHTS 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. •VALUE IS U.S. CENTS
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