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(516/517) Selected Interest & Exchange Rates W eekly Series o f Charts March 6 , 2000 DIVISION OF INTERNATIONAL FINANCE Prepared by the BOARD OF GOVERNORS FINANCIAL MARKETS FEDERAL RESERVE SYSTEM SECTION W ashington, D .C . 20551 Table o f Contents TABLES 1. LATEST FIGURES PLOTTED 2. DAILY CERTIFIED SPOT EXCHANGE RATES CHARTS 1. NOMINAL CURRENCY EXCHANGE VALUES 2. 3-MONTH FORWARD EXCHANGE RATES 3. PRICE OF GOLD IN LONDON 4. OVERNIGHT FUNDING RATES AND OFFICIAL INTEREST RATES 5. 3-MONTH INTEREST RATES 6. LONG-TERM GOVERNMENT BOND YIELDS 7. STOCK INDEXES 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 Board of Governors of the Federal Reserve System in a form collectible at Par in U.S. currency. Chart 1 Nominal Currency Exchange Values Dollar prices of foreign currencies and weighted average values of U.S. dollar (Averages for week ending Wednesday, ratio scale, March 1973 = 100) Chart 2 3-Month Forward Exchange Rates Premium (+) or (-) (Averages for week ending Wednesday, percent per annum) 1 U.K. pound German mark and euro 0 -1 -2 -3 8 Canada Japanese yen 6 4 2000 1999 2000 2 2 Swiss franc Australian dollar 1 0 -1 -2 Chart 3 Price of Gold in London (Averages for week ending Wednesday) u.s, dollars per fine ounce U.S. dollars per fine 420 420 12.5 Kg Bars Afternoon fixing price 400 400 380 380 360 360 340 340 320 320 300 300 * 280 280 260 260 240 _______ I_______ ________ I____________ I________ 1995 1997 1996 1998 1999 j________ 2000 240 Chart 4 Overnight Funding Rates and Official Interest Rates (Averages for week ending Wednesday, percent per annum) Chart 5 3-Month Interest Rates (Averages for week ending Wednesday, percent per annum) 7 German/euro-area interbank U.S. CD 5 Weighted average •reign rate 3 1 4 Canadian finance paper Japanese CD 2 0 -2 6 U.K. interbank sterling Swiss interbank 4 2 0 Australian bank bill Swedish treasury bill 9 7 5 3 1 Chart 6 Long-Term Government Bond Yields (Averages for week ending Wednesday, percent per annum) 8 United States Germany 6 4 Weighted average foreign rate 2 0 8 Canada 6 4 2 3 - 0 United Kingdom 8 France 6 4 2 0 1997 8 Switzerland 6 4 2 0 Chart 7 Stock Indexes (Averages for week ending Wednesday, ratio scale, December 30 ,1 9 9 4 = 100) 2-Feb-00 Chart 1. 9-Feb-00 16-Feb-00 23-Feb-00 l-Mar-00 Nominal Currency Exchange Values Noon buying rates (U.S. cents, weekly averages) Australian dollar Canadian dollar Japanese yen Restated German mark and euro Swedish krona Swiss franc U.K. pound 63.7440 69.191 0.93389 97.82 11.4357 60.726 161.93 63.4780 69.198 0.92101 98.41 11.6177 61.214 160.15 62.9640 68.807 0.91826 98.34 11.5686 61.236 159.72 62.6625 68.635 0.90233 99.48 11.6052 61.903 160.62 61.3140 68.866 0.91243 97.41 11.5104 60.595 158.91 45.12 68.96 244.52 140.70 50.64 195.36 65.49 44.93 68.97 241.15 141.55 51.45 196.93 64.78 44.56 68.58 240.43 141.45 51.23 197.00 64.60 44.35 68.41 236.26 143.08 51.39 199.15 64.96 43.40 68.64 238.90 140.11 50.97 194.94 64.27 0.32 0.81 2.53 6.01 3.82 -0.04 0.37 0.83 2.53 5.95 3.74 -0.08 0.39 0.85 2.46 5.99 3.69 -0.05 0.38 0.88 2.50 6.11 3.74 -0.05 299.25 307.12 303.56 294.36 Indexes, March 1973 base rates = 100 Australian dollar Canadian dollar Japanese yen Restated German mark and euro Swedish krona Swiss franc U.K. pound Chart 2. 3-Month Forward Exchange Rates, Premium or Discount Australian dollar Canadian dollar Euro Japanese yen Swiss franc U.K. pound Chart 3. Gold Price in London, Afternoon Fixing U.S. dollars per fine ounce Chart 4. 0.39 0.81 2.56 6.08 4.02 -0.01 284.84 Overnight Funding Rates and Official Interest Rates United States Federal funds Discount rate Canada Bank rate Call money Lower bound Euro area Marginal lending rate Eonia Repo rate Overnight deposit rate Japan Call money Discount rate Switzerland Lombard rate Call money Discount rate United Kingdom Call money Repo rate 5.66 5.04 5.71 5.25 5.75 5.25 5.72 5.25 5.77 5.25 5.00 4.76 4.50 5.25 4.98 4.75 5.25 4.95 4.75 5.25 4.92 4.75 5.25 4.96 4.75 4.00 3.23 3.00 2.00 4.25 3.24 3.25 2.25 4.25 3.25 3.25 2.25 4.25 3.27 3.25 2.25 4.25 3.39 3.25 2.25 0.02 0.50 0.02 0.50 0.02 0.50 0.02 0.50 0.08 0.50 4.13 1.81 0.50 4.13 1.83 0.50 4.13 1.98 0.50 3.75 1.60 0.50 4.00 1.30 0.50 6.14 5.75 4.80 5.75 5.53 6.00 5.85 6.00 5.95 6.00 2 -Feb-00 Chart 5. 9-Feb-00 16-Feb-00 23-Feb-00 l-Mar-00 3 -Month Interest Rates 6.01 U.S. 90-day C D ’s, secondary market 6.00 6.02 5.99 Australian bank bill 5.81 5.82 5.80 5.80 5.27 Canadian finance paper 5.28 5.27 5.33 Euro-area interbank 3.50 3.48 3.49 3.58 0.07 0.06 Japanese CD 0.06 0.06 4.02 Swedish treasury bill 4.12 3.89 4.16 Swiss interbank 1.94 2.16 2.28 2.35 U.K. interbank sterling 6.02 6.04 6.07 6.08 Weighted average foreign interest rate 3.31 3.31 3.31 3.34 (Canada, euro area, Japan, United Kingdom, Switzerland, Australia, and Sweden) Chart 6. Long Term Government Bellwether Bond Yields 10-year maturity, where available Canada 6.51 6.39 6.46 6.30 5.62 5.69 France 5.68 5.62 Germany 5.56 5.50 5.58 5.51 Italy 5.80 5.75 5.84 5.78 Japan 1.71 1.84 1.81 1.82 3.77 Switzerland 3.83 3.80 3.84 United Kingdom 5.74 5.65 5.66 5.55 6.65 6.56 United States 6.60 6.47 Weighted average foreign interest rate 5.34 5.30 5.35 5.27 (Canada, euro area, Japan, United Kingdom, Switzerland, Australia, and Sweden) Chart 7. 6.02 5.82 5.30 3.62 0.06 4.14 2.32 6.08 3.36 Stock Indexes Canada France Germany Euro .area* Italy Japan Switzerland** United Kingdom United States 6.10 5.60 5.47 5.74 1.84 3.91 5.38 6.38 5.17 (Wednesday figures) 208.12 305.00 280.95 407.86 290.20 109.80 279.77 157.17 249.43 219.65 319.84 302.03 433.12 308.86 112.11 278.59 152.30 245.87 223.77 310.61 295.21 436.88 315.82 108.47 275.14 149.14 241.08 221.07 309.70 304.60 434.03 321.18 106.94 280.96 151.89 234.57 223.36 322.79 307.62 442.82 337.18 110.66 278.09 156.53 238.89 Indices (in order, rebased to December 30, 1994, *♦December 29, 1994) are Toronto Composi SBF250, FAZ Aktien, ♦Dow Jones EURO stock index, Banca Italiana General, Tokyo SE (Topix), Swiss Performance Index, Financial Times Ordinary, NYSE Composite
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