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(516/517) Selected Interest & Exchange Rates Weekly Series of Charts May 1, 1989 DIVISION OF INTERNATIONAL FINANCE Prepared by the FINANCIAL MARKETS SECTION BOARD OF GOVERNORS FEDERAL RESERVE SYSTEM Washington, D.C. 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 P R I C E - L O N D O N 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 5.70 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 11973=100 140 120 RATIO S MARCH 197S1=100 140 FOREIGN CURRENCY PRICE OF U.S. DOLLAR BELGIAN FRANC 120 100 100 90 90 80 80 I 70 I I I I I 70 280 240 280 SWISS FRANC - JAPANESE YEN 240 200 200 180 180 160 160 - 140 140 I 120 I I I I I 120 100 100 CANADIAN DOLLAR 90 80 90 U.K. POUND 80 70 70 60 60 50 50 200 180 200 - DUTCH GUILDER GERMAN MARK 180 160 160 140 140 120 - I 100 I I I I 100 I 120 60 - 100 90 120 ITALIAN LIRA 50 FRENCH FRANC 45 ^ 80 : 40 70 35 60 30 I 50 1987 1989 I I I I 1987 I 25 1989 CHART 2 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 I II i ii I I I I I I I I I i i i I i i i DUTCH GUILDER SWISS FRANC / V I JAPANESE YEN GERMAN MARK I A*> V ^ X v \ - ~ I I I I I I I I I I I I ITALIAN LIRA FRENCH FRANC 12 1987 1989 1987 1989 CHARTS PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY U.S. LLARS PER FINE OUNCE U.S. DOLLARS PER FINE O 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 i 300 1986 1987 1988 i I i i I i i I i i 1989 300 CHART4 CALL MONEY RATES WEEKLY SERIES PERCENT PER ANh PEI JENT PER ANNUM 16 16 12 U.S. FEDERAL FUNDS 12 FRANCE 8 8 JAPAN 4 4 l 0 l l I l l l iiiiiiiiiii 0 16 16 CANADA 12 8 12 GERMANY 8 4 4 0 0 16 20 UNITED KINGDOM SWITZERLAND 16 12 12 8 8 4 NETHERLANDS tl 0 1987 4 1989 1987 0 1989 CHARTS 3-MONTH INTEREST RATES WEEKLY SERIES PERCENT PER ANh JM ENTPER ANNUM 12 12 FRENCH INTERBANK RATE 10 10 U.S. CD'S 8 8 6 6 WEIGHTED AVERAGE FOREIGN RATE 4 4 1 1 1 2 I I I ill 2 16 16 14 - U.K. INTERBANK STERLING 14 CANADIAN FINANCE CO. PAPER 12 f - 12 10 10 8 8 I 6 I I I I I 6 8 8 6 GERMAN INTERBANK RATE - SWISS INTERBANK RATE jJ - 4 6 4 2 - I 0 I I I I 2 0 I 10 10 - 8 NETHERLANDS INTERBANK RATE - 8 JAPANESE GENSAKI RATE 6 6 4 - I 2 1987 1989 I I I I 1987 I 4 2 1989 CHART 6 EURO-DOLLAR DEPOSIT RATES LONDON AVERAGES FOR WEEK ENDING WEDNESDAY )ENT PER ANNUM PERCENT PER ANf 14 14 OVERNIGHT 12 3-MONTH 12 10 10 8 8 6 6 4 4 14 14 12 6-MONTH 7-DAY 12 10 10 8 8 6 6 I 4 I I lull 4 14 12 14 1-MONTH 1-YEAR 12 10 10 8 8 6 6 4 4 1987 1989 1987 1989 CHART 7 SELECTED EURO-DOLLAR AND U.S. MONEY MARKET RATES DIFFERENTIAL: PLUS(+),FAVORS BORROWING IN U.S. AVERAGES FOR WEEK ENDING WEDNESDAY 14 12 10 3-MONTH EURO-DOLLAR DEPOSITS FEDERAL FUNDS DASHED LINE 8 6 OVERNIGHT EURO-DOLLAR DEPOSITS 90-DAY CD'S DASHED LINE 4 11 I I I I I I I I I I I 2 2 DIFFERENTIAL DIFFERENTIAL 1 + 0 11111111111111111111111 1 1987 ENTIAL SCALE = 2 PERCENT ON RATE SCALE 1989 I I I I I 1987 CHART 8 INTEREST ARBITRAGE: 3-MONTH FUNDS DIFFERENTIAL: PLUS(+), INDICATES FAVOR DOLLAR ASSETS AVERAGES FOR WEEK ENDING WEDNESDAY ENTPER ANNUM PERCENT PER ANN 16 16 12 INTERBANK STERLING 12 CANADIAN FINANCE CO. PAPER, COVERED COVERED LONDON 8 8 EURO-DOLLAR DEPOSITS 4 U.S. COMMERCIAL PAPER DASHED LINE I I I I I I IMI I I I I I I I I III I II I I I I I I I 0 4 DASHED LINE I II I I I h I i i I i i I i i I i i I i i I i i I i i 2 2 DIFFERENTIAL DIFFERENTIAL + + 0 0 nliiliilii 2 iiIiilillii I I I I I I I I I I I I I I I I I I I I I ll 2 16 16 12 12 INTERBANK DM COVERED FRANKFURT SWISS INTERBANK (SF) COVERED 8 8 EURO-DOLLAR DEPOSITS 4 EURO-DOLLAR DEPOSITS DASHED LINE 4 DASHED LINE I I III I I I I I I I I I I I I I I I I I I I II I I | | I | I 0 IIIIIl IIIIIIIIIIIIIIIIII 2 0 2 DIFFERENTIAL DIFFERENTIAL + + 0 2 0 0 I I I I I I 1987 I N i l 11 h i l l I N i l II l l l l l l 1989 1 PERCENT ON DIFFERENTIAL SCALE = 2 PERCENT ON RATE SCALE I I I I I I 1987 I llllllllllllllllllMill 1989 2 CHART9 LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES PERCENT PER ANI DENT PER ANNUM 14 14 12 „ UNITED STATES CANADA 12 10 10 8 8 I 6 lllllll I 6 14 14 12 __ UNITED KINGDOM FRANCE 12 10 _v 8 6 I I M l I I I V I I v V v v Z 10 8 I 6 10 8 10 SWITZERLAND - JAPAN - 6 6 4 2 - I I I I I I I I I 4 2 10 10 NETHERLANDS 8 8 GERMANY MONTHLY - 6 6 4 - I 2 8 1987 1989 I I I I 1987 I 4 2 1989 CHART 10 INDUSTRIAL STOCK INDICES WEEKLY SERIES RATIO SCALE 1969=100 RATIO SCALE 1969=100 600 500 - — UNITED STATES 400 — 300 200 NETHERLANDS - - — i 150 i i i i i , 11,11111, i 800 JAPAN GERMANY 600 - — 500 - — 400 - 300 - / K \ / — i 200 — i i I I I lllllllllll nil.hih< 300 SWITZERLAND 250 FRANCE 200 150 100 - — — I I I I I I Mil.I.III. I IIIIIIIIII 600 500 CANADA < V 400 i 300 200 UNITED KINGDOM I I I I I 1987 v r z V x -/V' A " I 1989 1987 1989 LAST VALUE PLOTTED DATE VALUE SERIES NAME CHART 1 . SPOT EXCHANGE RATES AND I N D I C E S WEEKLY AVERAGES, NOON BUYING BATES (U.S. CEN1S) GERMAN MARK JAPANESE YEN DUTCH GUILDER U. K. POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC BELGIAN FRANC ITALIAN LIRA SWEDISH KRONA INDICES, MARCH 1973 BASE BATES = WEIGHTED AVERAGE EXCHANGE VALUE I N D I C E S , ( G - 1 0 COUNTRIES PLUS SWITZERLAND) U . S . DOLLAR GERMAN MARK JAPANESE 1 EN DUTCH GUILDER U . K . POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC BELGIAN FRANC ITALIAN LIRA SWEDISH KRONA J-MONTH FORWARD EXCHANGE ctAi'ES, CANADIAN DOLLAR U. K . POUND GERMAN MARK FRENCH FRANC SwISS FRANC DUTCH GUILDER JAPANESE YEN ITALIAN LIRA 2b 26 26 2b 2b 2b 2b 26 26 26 5 3 . 76 0.75984 4 7 .faJ 170.51 S i t . 19 15.87 60.93 2.56790 0.07325 1 5 . 78 APRIL APRIL APRIL APRIL APRIL APRIi. APRIL APRIL APRIL 26 26 26 26 26 26 26 26 2b 1 5 1 . ,22 1 9 4 . ,9 b 1 3 6 . , 74 6 4 . , 9b 8 3 . 91 7 1 . 53 196. 03 10.1.,19 4J . 61 26 2b 26 2b 26 2b 2b 26 2b 2b 2b 96.87 1 5 9 . 17 210.07 136.06 6.4.54 8 0 . 57 66.93 194.78 98.62 37.48 6 7 . 24 2o 26 2b 2b 2b 26 2b 2b -2.32 - 2 . 9b 3.55 1.32 3 . 41 3 . 15 6.32 -1.76 100 GERMAN MARK JAPANESE YEN DUTCH GUILDER U. K. POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC BELGIAN FRANC ITALIAN LIRA CHART 2 . APRIL APRIL APRIL APRIL APRIL APRIL APRIL APRIL APRIL APRIL MAR 1 9 7 3 = 100 APRIL APRIL APRIL APRIL APRIL APRIL APRIL APRIL APRIL APRIL APRIL t-tiEMIUM OR DISCOUNT APRIL APRIL APRIL APRIL APRIL APRIL APRIL APRIL SERIES CHAflT 3 . GOLD PRICE I N LONDON, AFTERNOON F I X I N G U.S. CHART 4 . L A S T VALUE PLOTTED DATE VALUE NAME DOLLARS PER F I N E OUNCE A P R I L 26 J84.26 CALL HONEY RATES U . S . FEDERAL FUNDS OVERNIGHT EURO-DOLLAR DEPOSITS U.K. CANADA GERMANY JAPAN FRANCE NETHERLANDS SWITZERLAND APRIL APRIL APRIL APRIL APaiL APRIL APRIL APRIL hliJtxL 2o 26 26 26 2b 26 26 26 26 9 . 82 9.75 10.97 12.25 5 . 99 4 . 1U fl.40 6. U 5 . 86 APRIL APRIL APRIL APRIL APRIL APRIL APRIL APill L APaiL 26 26 26 26 26 2b 2b 26 26 S . 88 a . 50 il.21 12.61 13.21 6. J5 8.64 6.81 8.11 APSIL APRIL APRIL APRIL APRIL APRIL 26 26 26 26 26 26 * S . 75 9 . 75 9.85 9.98 10.09 1 0 . 2d OVERNIGHT EURO-DOLLAR DEPOSITS U . S . FEDERAL FUNDS DIFFERENTIAL A P A I L 26 APRIL 26 APRIL 26 9 . 75 9 . 82 - 0 . 07 3-MONTH EURO-DOLLAR DEPOSIT RATE U . S . 9 0 - D A Y C D ' S , SECONDARY MARKET DIFFERENTIAL A P R I L 26 APRIL 26 A P 4 I L 26 9 . 98 9 . 88 0. 10 CHART 5 . 3—MONTH INTEREST RATES U . S . 9 0 - D A I C D ' S , SECONDARY MARKET GERMAN INTERBANK LOAN JAPANESE GENSAKI RATE CANADIAN FINANCE PAPER INTERBANK STERLING S S I S S INTERBANK LOAN FRENCH INTERBANK RATE NETHERLANDS INTERBANK RATE WEIGHTED AVERAGE FOREIGN I N T E R E S T RATE ( G - 1 0 COUNTRIES P L OS SWITZERLAND) CHART 6 . EURO-DOLLAR DEPOSIT RATES: LONDON OVERNIGHT 7-DAY 1-flONTH 3-MONTH 6-MONTH 1-YEAR '"HART 7 . SELECTED EURO-DOLLAR AND U . S . HONEY MARKET RATES SEBIES NAME CHART 8 . L A S T VAU.B PLOTTED DAIS ltALUS I M I EH E S I A B B I T B A G E , J-MONTH FUNDS EUBO—DOLLAB DEPOSIT INTERBANK STERLING (LONDON), COVERED DLtFEBENTIAL A P R I L 26 A P i l l L 26 APRIL 26 - 0 . 18 U . S . COMMEBCIAL PAPER CANADIAN -FINANCE PAPEB, COVEBED DIFFEBENTIAL AP MIL 2 6 APRIL 26 APBIL 26 9 . 75 10. 22 47 EURO-DOLLAB DEPOSIT INTERBANK DM (FRANKFURT), COVE BED DIFFERENTIAL APRIL 26 AP&IL 26 A P B I L 26 EURO-DOLLAR DEPOSIT SWISS INTERBANK, COVERED DIFFEBENTIAL APRIL 26 A P E I L 26 APRIL 26 CHART y . -0. U s. 98 9 . 82 ti.16 APBIL APBIL APBIL APBIL AP*IL APM I L MABCH APBIL 21 21 14 21 21 14 21 9 . 14 6 . 88 4.78 5.0b 10.24 9.22 6.93 9 . 11 -MAX 9.JJ STOCK I N D I C E S UNITED STATES UNITED KINGDOM CANADA GERMANX SWITZERLAND NETHERLANDS FRAN CE JAPAN 9 . 98 10. 11 COBPOBATE AAA BONDS CHABT 1 0 . -ti. LONG TEEM GOVEBMJSNT oOND X I E L D S UNITED STATES GEBMANY JAPAN SWITZERLAND CANADA FBANCE NETHEBLANDS (MONTiiLX) UNITED KINGDOM U.S. 9 . 98 10. 15 APBIL APBIL APBIL APBIL APRIL APRIL APRIL APBIL 19 19 19 19 19 19 19 19 327. 4J 3 7 7 . 86 J56.55 2 5 0 . 28 227.Ju 035.09 471.22 652.44 FEDERAL RESERVE statistical release H.10(512) APRIL 2 8 , 1989 FOREIGN EXCHANGE RATES FOR THE WEEK ENDING APRIL 2 8 , 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 *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 MEMO: SUNITED STATES DOLLAR APR. 24 (CURRENCY UNITS PER DOLLAR) APR. 25 APR. 26 APR. 27 APR. 28 79.13 13.100 38.990 1.1890 3.7314 7.2515 4.1660 6.3065 1.8612 158.060 7.7830 15.7600 143.20 1365.50 131.60 2.6770 2.1010 61.330 6.7630 154.050 1.9395 2.5360 688.60 115.570 34.048 6.3365 1.6430 NA 25.490 170.49 79.21 13.130 39.080 1.1890 3.7314 7.2645 4.1740 6.3105 1.8655 159.000 7.7810 15.8000 143.00 1367.50 131.39 2.6870 2.1050 61.250 6.7810 154.600 1.9450 2.5440 688.70 115.850 34.048 6.3560 1.6442 26.940 25.450 170.10 79.36 13.220 39.330 1.1902 3.7314 7.3110 4.1980 6.3580 1.8790 160.000 7.7795 15.8600 142.15 1376.75 132.25 2.6875 2.1200 61.500 6.8180 155.200 1.9470 2.5540 668.80 116.430 34.038 6.3830 1.6582 26.790 25.520 168.85 79.45 13.205 39.280 1.1935 3.7314 7.3030 4.1945 6.3500 1.8768 160.100 7.7820 15.8400 142.10 1376.00 132.19 2.6920 2.1175 61.470 6.8140 155.200 1.9515 2.5550 668.90 116.420 34.048 6.3720 1.6588 26.550 25.540 169.05 79.40 13.238 39.350 1.1865 3.7314 7.3215 4.2030 6.3550 1.8802 159.960 7.7800 15.8600 142.10 1377.00 132.85 2.6955 2.1210 61.520 6.8310 155.500 1.9515 2.5615 668.90 116.700 34.057 6.3880 1.6735 25.950 25.530 168.90 96.92 97.04 97.66 97.60 97.74 ftlNDEX 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. *VALUE I S U . S . CENTS
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