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(516/517) L I B R A R Y m a r 1 6 1987 ®SS5B 0 '%4'ie Selected Interest & Exchange Rates Weekly Series of Charts March 9,1987 DIVISION OF INTERNATIONAL FINANCE Prepared by the FINANCIAL MARKETS SECTION BOARD OF GOVERNORS FEDERAL, RESERVE SYSTEM Washington, D C. 20551 Table of Contents TABLES SUBSCRIPTION RATES: 1. LATEST FIGURES PLOTTED Weekly $ 1 5 . 0 0 per year or $.40 each in the United States, its possessions, Canada, and Mexico; 10 or more of the same issue t o o n e address, $ 1 3 . 5 0 per year or $ . 3 5 each. Elsewhere, $ 2 0 . 0 0 per year or $.50 each. Address requests to Publications Services, Division of Administrative Services, and make payment remittance payable t o 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 PR ICE -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 SCALE MARCH 1 9 7 3 = 1 0 0 RATIO SCALE MARCH 1 9 7 3 = 1 0 0 - 50 45 - 40 - 35 - 30 - 25 ill,,|,ii,, 20 — „ FOREIGN CURRENCY PRICE OF U.S. DOLLAR ITALIAN LIRA ^ V V - - i i i i i i i h i l n h i i 200 — 180 — — 200 — 180 GERMAN MARK 160 ^ JAPANESE YEN - / " " V / 160 JT 140 ly 120 - j - 100 /w/ - 140 - 120 - 100 I ill I|||||| 80 J I - i i I M l i ill i h i l i i I I I i I i i T" DUTCH GUILDER CANADIAN DOLLAR 120 — — 90 - - 80 — - 70 I I i I i 11 h 1111 h i i t h 1111 I t i i U.K. POUND FRENCH FRANC — 70 50 i - Jy SA i 40 120 - X 60 i i r i i — BELGIAN FRANC I I I I >y 70 — - 60 • — - 1 1 1 1 1 1 1985 1111111 i l l i i ill i h i l l i 1987 70 - 60 - 50 SWISS FRANC / 40 240 — 200 - - 1 - 11 h i h i h i ill,,||||ii — - 80 — — 50 I — 90 k I — — •" 100 80 I 11111111111 i V AfJ - — ~ J 60 90 — — 80 „ 100 - Milium 90 140 — 180 160 A[ 140 \/* i i i i i 120 i 1985 i ill illii111 100 1987 CHART 2 3-MONTH FORWARD EXCHANGE RATES PREMIUM (+) OR ( - ) AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER ANNUM PERCENT PER ANNUM 4 8 JAPANESE YEN CANADIAN DOLLAR —j \ 0 - I I I I I I I I l 4 12 — U. K.POUND SWISS FRANC r - ~ I I I I I I DUTCH GUILDER GERMAN MARK — — 0 I I l I I I I I I ITALIAN LIRA FRENCH FRANC I - 4 - 8 12 1985 1987 1985 1987 CHART 3 PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY U.S. I .LARS PER FINE OUNCE U.S. DOLLARS PER FINE OUNCE 480 480 460 460 440 440 12.5 Kg BARS AFTERNOON FIXING PRICE 420 420 400 400 380 380 360 360 340 340 320 320 300 300 280 280 260 260 1984 1985 1986 1987 CHART 4 CALL MONEY RATES WEEKLY SERIES PERCENT PER ANNUM PERCENT PER ANNUM 16 16 FRANCE U. S. FEDERAL FUNDS - Vv" JAPAN I I I I I I : 11111111111 CANADA GERMANY UNITED KINGDOM SWITZERLAND NETHERLANDS 1985 1987 1985 1987 CHART 5 3-MONTH INTEREST RATES WEEKLY SERIES PERCENT PER AN T PER ANNUM 16 14 CANADIAN FINANCE CO. PAPER U . S . CD'S 12 14 10 - 10 8 6 4 12 WEIGHTED AVERAGE FOREIGN RATE 8 M i l l I I I I I I IIIIIIIIII I 6 14 16 FRENCH INTERBANK RATE UK. INTERBANK STERLING 14 - 12 12 10 10 8 I 8 I l I l I 6 10 10 NETHERLANDS INTERBANK RATE 8 8 GERMAN INTERBANK RATE Vw / \ 6 V 6 4 4 I II I II 2 2 8 10 8 SWISS INTERBANK RATE JAPANESE GENSAKI RATE " / V X 6 .. 6 A . . 4 V 2 4 I I I 2 1985 1987 I I I 1985 0 1987 CHART 6 EURO-DOLLAR DEPOSIT RATES LONDON AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER ANNUM OVERNIGHT 3-MONTH 7-DAY 6-MONTH 14 14 12 10 8 U 6 4 14 14 1-MONTH 1-YEAR 12 10 8 6 4 1985 1987 1985 1987 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 16 16 14 - 12 - 10 6 14 FEDERAL FUNDS 90-DAY CD' S DASHED LINE DASHED LINE 12 - 10 — OVERNIGHT 3-MONTH E U R O - D O L L A R DEPOSITS E U R O - D O L L A R DEPOSITS I I I I I I I I I I I 1111111111 11111111111 1111111 4 2 DIFFERENTIAL DIFFERENTIAL K I I I I 1985 1 P E R C E N T ON D I F F E R E N T I A L S C A L E = 2 P E R C E N T ON R A T E S C A L E 1 1987 I I I I 1985 I f II 1 II 1 1 1 1 1 1 II 1 1 1 1 1 1 1 1 1 1987 CHART 8 INTEREST ARBITRAGE: 3-MONTH FUNDS DIFFERENTIAL: P L U S H , INDICATES FAVOR DOLLAR ASSETS AVERAGES FOR WEEK ENDING WEDNESDAY :NT PER ANNUM 14 PERCENT PER Ah CANADIAN FINANCE CO. PAPER, COVERED INTERBANK STERLING COVERED LONDON 10 EURO-DOLLAR DEPOSITS 6 DASHED LINE U. S. COMMERCIAL PAPER DASHED LINE 2 2 DIFFERENTIAL DIFFERENTIAL + 0 2 I I I I 18 INTERBANK DM 14 SWISS INTERBANK (SF) COVERED COVERED FRANKFURT 10 6 EURO-DOLLAR DEPOSITS EURO-DOLLAR DEPOSITS DASHED LINE DASHED LINE 2 2 DIFFERENTIAL DIFFERENTIAL 0 2 1_L II 1985 I 1987 E R C E N T ON D I F F E R E N T I A L S C A L E = 2 P E R C E N T ON R A T E S C A L E 1985 I lull 1987 CHART 9 LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES ENT PER ANNUM PERCENT PER AL 16 UNITED STATES — 16 - 14 CANADA 14 12 12 10 10 8 8 - 6 I I I 6 15 9 13 UNITED KINGDOM 7 SWITZERLAND 11 5 9 3 7 1 10 10 GERMANY 8 - JAPAN \a 6 4 I I 8 - I ® 6 - i , i 4 17 U. S. CORPORATE 15 17 MONTHLY FRANCE 15 Aaa BONDS 13 13 11 11 NETHERLANDS MONTHLY 9 9 7 7 5 5 1985 1987 1985 1987 CHART 10 INDUSTRIAL STOCK INDICES WEEKLY SERIES RATIO SCALE 1969=100 RATIO SCALE 1969=100 4 5 0 4 0 0 — 350 — 300 — — ~ UNITED KINGDOM " 4 5 0 - 4 0 0 - 350 300 UNITED S T A T E S AJ 2 5 0 — 200 - - try 200 150 - - 150 z v v / A y w ^ I 100 I I - l l l l l h l l l , 11111111111 I — 500 4 5 0 4 0 0 - 350 — 300 — 250 - A \ JAPAN / x z — — — - - - — — / v V y y V ^ 1 I 1 I I I I l l l l l l I ! I i i i I I I 11111111111 , l | l , | , | | | , — 4 0 0 — 350 — 300 — — /i — 200 - 150 - — SWITZERLAND 2 0 0 / 175 I I I 1 1 1 ^ i I I — - 100 75 - 4 0 0 - 350 — 3 0 0 - 2 5 0 - 200 - 150 - - - — GERMANY A / A p y V v 1 1 1 L I I I , , l l l l l l l l l l l — — 4 0 0 125 — - 11111111111 I - — - i 150 l l l l l l l l l l l l l l l l l l l l l l - A/ - — - J i 100 r / FRANCE 250 TV* 100 2 5 0 2 2 5 - 150 4 5 0 1 - 200 4 5 0 I — r' — I 2 5 0 — 4 5 0 100 4 5 0 — 4 0 0 — 350 - 3 0 0 - - 2 5 0 200 - - 2 0 0 150 - - 150 350 ~~ 300 250 100 V I I I I I 1985 I CANADA - r - A - NETHERLANDS M l , , I , , I , , 1 1987 1 1 I I 1985 I 100 1987 SERIES * 1 1 . LAST VALUE PLOTTED DATE VALUE SAME SPOT EXCHANGE BATES AND I N D I C E S WEAKLY AVERAGES, NOON BUYING RATES (U.S. CENTS) GEnilAN MARK JAPANESE YEN DUTCH GUILDER U . K . POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC BELGIAN FRANC I T A L I A N LIRA SWEDISH KhONA INDICES, MARCH 1 9 7 3 BASE RATES = WEIGHTED AVERAGE EXCHANGE VALUE I N D I C E S , l G - 1 0 COUNTRIES PLUS SWITZERLAND) S CHART 2 . 4 4 4 4 4 4 4 4 4 4 54.65 0.65165 4 8 . 36 155.47 75.04 16.41 64.85 2. 63701 0.07682 1 5 . 47 MARCH MARCH MARCH MARCH MARCH MARCH MARCH MARCH MARCH 4 4 4 4 4 4 4 4 4 153.73 170. 62 138. 84 62.88 74.80 73.94 208.64 103.91 43.64 4 4 4 4 4 4 4 4 4 4 4 99.42 166. 36 180.98 141. 34 59.63 72.77 71.06 212.11 103.62 40. 76 67.30 4 4 4 4 4 4 4 4 -1.09 -4.09 2 . 32 - 2 . 05 2 . 46 0 . 97 2 . 16 -3.58 100 GEEMAN MARK JAPANESE YEN DUTCH GUILDER U . K . POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC BELGIAN FRANC ITALIAN LIRA U . S . DOLLAR GERMAN MARK JAPANESE YEN DUTCH GUILDER U. K. POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC BELGIAN FRANC ITALIAN LIRA SWEDISH KRONA MARCH MARCH MARCH MARCH MARCH MARCH MARCH MARCH MARCH MARCH MAR 1 9 7 3 = 100 MARCH MARCH MARCH MARCH MARCH MARCH MARCH MARCH MARCH MARCH MARCH 3-MONTH FORWARD EXCHANGE B A T E S , PREMIUM OR DISCOUNT CANADIAN DOLLAR U . K . POUND GERMAN MARK FRENCH FRANC SWISS FRANC DUTCH GUILDER JAPANESE YEN ITALIAN LIRA MARCH MARCH MARCH MARCH MARCH MARCH MARCH MARCH LAST VALUE PLOTTED DATE VALUE S E H I E S NAME CHART 3 . GOLD P R I C E I N LOUDON, AFTERNOON F I X I N G U.S. CHART 4 . DOLLARS PER F I N E OUNCE MARCH 4 404.91 MARCH MARCH MARCH MARCH MARCH MARCH MARCH MARCH MARCH 4 4 4 4 4 4 4 4 4 6.06 5. 93 11.30 7 . 50 3.71 3.93 7.48 5.65 1.00 MARCH MARCH MARCH MARCH MARCH MARCH MARCH MARCH MARCH 4 4 4 4 4 4 4 4 4 6 . 10 3.98 3.96 7 . 40 10.58 3.88 8.11 5.41 6. 35 MARCH MARCH MARCH MARCH MARCH MARCH 4 4 4 4 4 4 5.93 6.01 6.33 6.33 6.33 6.38 CALL MONEY RATES U . S . FEDERAL FUNDS OVERNIGHT EURO-DOLLAR D E P O S I T S U.K. CANADA GERMANY JAPAN FRANCE NETHERLANDS SWITZERLAND 5. 3-MONTH I N T E R E S T RATES O . S . 90—DAT C D ' S , SECONDARY MARKET GERMAN INTERBANK LOAN J A P A N E S E GBNSAKE RATE CANADIAN FINANCE PAPER INTERBANK STERLING S W I S S INTERBANK LOAN FRENCH INTERBANK RATE NETHERLANDS INTERBANK BATE WEIGHTED AVERAGE FOREIGN I N T E R E S T RATE ( G - 1 0 COUNTRIES PLUS SWITZERLAND) CHART 6 . EURO-DOLLAR D E P O S I T R A T E S : LONDON OVERNIGHT 7—DAI 1-MONTH 3-MONTH 6-MONTH 1-XEAR CHART 7 . SELECTED EURO-DOLLAR AND U . S . HONEI MARKET RATES OVERNIGHT EURO-DOLLAR D E P O S I T S U . S . FEDERAL FUNDS DIFFERENTIAL MARCH MARCH MARCH 4 4 4 5.93 6 . Q6 -0.13 3-MONTH EURO-DOLLAR D E P O S I T RATE U . S . 9 0 - D A I C D ' S , SECONDARY MARKET DIFFERENTIAL MARCH MARCH MARCH 4 4 4 6.33 6.10 0. 23 LAST VALUE PLOTTED DATE VALUE S E S I B S NAME CHART 8 . I N T E R E S T ARBITRAGE, 3-MONTH FUNDS EURO-DOLLAR D E P O S I T INTERBANK STERLING (LONDON), COVERED DIFFERENTIAL MARCH MARCH MARCH 4 4 4 6.33 6. 38 - 0 . 05 U . S . COMMERCIAL PAPER CANADIAN FINANCE P A P E R , COVERED DIFFERENTIAL MARCH MARCH MARCH 4 4 4 6 . 07 6. 29 -0.23 EURO-DOLLAR D E P O S I T INTERBANK DM ( F R A N K F U R T ) , DIFFERENTIAL MARCH MARCH MARCH 4 4 4 6.33 6 . 32 0.00 MARCH MARCH MARCH 4 4 4 6.33 6.36 - 0 . 03 27 20 20 7.20 5 . 68 4.11 4. 08 8.96 9. 86 6.21 9. 36 COVERED EURO-DOLLAR D E P O S I T SWISS INTERBANK, COVERED DIFFERENTIAL 9. LONG TERM GOVERMENT BOND Y I E L D S UNITED STATES GERMANY JAPAN (MONTHLY) SWITZERLAND CANADA FRANCE NETHERLANDS (MONTHLY) UNITED KINGDOM U.S. ' 20 6 27 20 CORPORATE AAA BONDS CHART 1 0 . FEB. FEB. FEB. FEB. FEB. FEB. JAN. FEB. FEB. 8.38 STOCK I N D I C E S UNITED STATES UNITED KINGDOM CANADA GERMANY SWITZERLAND NETHERLANDS FRANCE JAPAN FEB. 2 5 FEB. 2 5 FEB. 2 5 FEB. 2 5 FEB. 2 5 FEB. 2 5 FEB. 2 5 FEB. 2 5 298.07 348.44 344.13 245.15 189.17 302.67 425.34 468.45 •jojcow^ , ^FEDERAL RESERVE statistical release H.101512) MARCH 4 , 1967 FOREIGN EXCHANGE RATES FOR THE MEEK ENDING MARCH 4 , 1967 The Board of Governors of the Federal Reserve System is advised that the Federal Reserve Bank of New York has certified tor 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 GERMANY GREECE HONG KONG INDIA •IRELAND ITALY JAPAN MALAYSIA NETHERLANDS •NEM ZEALAND NORMAY PORTUGAL SINGAPORE •SOUTH AFRICA SOUTH KOREA SPAIN SRI LAMCA SMEDEN SNITZERLAND TAINAN 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 NON PESETA RUPEE KRONA FRANC DOLLAR BAHT POUND MEMO: •UNITED STATES DOLLAR MAR. 2 48.13 12.895 37.930 NA 1.3314 3.7314 4.9015 4.5315 4.0975 1.8324 134.450 7.8000 13.0200 145.70 1303.00 153.50 2.5200 2.0485 54.350 4.9850 141.700 2.1385 48.10 858.70 128.920 28.742 4.4700 1.5417 35.040 25.730 154.38 99.40 < CURRENCY UNITS PER DOLLAR 1 MAR. 3 MAR. 4 MAR. 47.84 12.905 37.980 19.79 1.3327 3.7314 4.9100 4.5320 4.1030 1.8340 134.400 7.7990 13.0200 145.43 1303.50 153.45 2.5220 2.0708 54.050 4.9620 141.700 2.1380 48.00 858.80 129.000 29.755* 4.4400 1.5450 35.070 25.940 154.00 99.50 48.02 12.925 38.050 NA 1.3328 3.7314 4.9200 4.5319 4.1150 1.8385 134.550 7.8000 13.0300 145.30 1305.50 153.71 2.5220 2.0755 54.420 4.9700 141.400 2.1385 48.20 858.90 129.050 28.755 4.4580 1.5485 35.040 25.930 154.42 99.40 5 47.88 12.890 37.950 20.02 1.3342 3.7314 4.8950 4.5150 4.0980 1.8320 135.100 7.8020 13.0200 145.95 1302.00 153.20 2.5245 2.0475 55.800 4.9450 141.650 2.1405 48.00 858.90 129.220 28.755 4.4375 1.5440 NA 25.940 157.78 99.24 MAR. 4 47.75 12.940 38.100 19.74 1.3330 3.7314 4.9285 4.5340 4.1210 1.8398 141.600 7.8050 12.9800 145.15 1308.25 153.47 2.5240 2.0770 55.450 4.9600 141.600 2.1435 48.00 859.00 129.000 28.753 6.4510 1.5510 34.990 25.940 158.90 99.46 •INDEX OF NEIGHTED AVERAGE EXCHANGE VALUE OF U . S . DOLLAR AGAINST CURRENCIES OF OTHER G-10 COWITRIES. MARCH 1 9 7 3 = 1 0 0 . MEIGHTS ARE 1 9 7 2 - 7 4 GLOBAL TRADE OF EACH OF THE 10 COUNTRIES. SERIES REVISED AS OF AUGUST 1 9 7 8 . 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 I S U . S . CENTS
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