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(516/ 517) Selected Interest & Exchange Rates W eekly Series o f Charts May 12,2003 DIVISION OF INTERNATIONAL FINANCE Prepared by the BOARD OF GOVERNORS FINANCIAL MARKETS FEDERAL RESERVE SYSTEM SECTION Washington, D.C. 20551 Table o f Contents TABLES SUBSCRIPTION RATES: 1. LATEST FIGURES PLOTTED W eekly $30.00 per year or $.70 each in the United States, its possessions, Canada, and M exico. Elsewhere, $35.00 per year or $.80 each. Address requests to Publications Services Division o f Support Services and make payment remittance payable to the Board o f Governors o f the Federal Reserve System in a form collectible at Par in U.S. currency. 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 Chart 1 Nominal Currency Exchange Values Dollar prices of foreign currencies and weighted average values of U.S. dollar (Average for week ending Wednesday, ratio scale, March 1973 = 100) 180 Foreign currency 160 140 120 100 290 Canadian dollar Japanese yen 260 230 200 170 260 UJC pound Swiss franc 220 180 2002 70 ----- Australian dollar 140 70 Swedish krona 60 50 40 30 Chart 2 3-Montti Forward Exchange Rales Premium (+) or (-) Averages forw eek ending Wednesday, percent peranrrum) Chart 3 Price of Gold in London (Averages tor week ending Wednesday) Chart 4 interbank Funding Rates and Official Interest Rates (Averages for week ending Wednesday, percent per annum) **First observation: 1/9/2003 the minimum bid rate a nd w eighted a ve ra g e rate are show n. Chart 5 3-Month Interest Rates (Averages for week ending Wednesday, percent per annum) Chart 6 Long-Term Government Bond Yields (Averages for week ending Wednesday, percent per annum) 8 6 4 2 Q Chart 7 Slock Indexes (Averages lor week ending Wednesday, ratio scale, December 2 9 ,2 0 0 0 = 100) 9-Apr-03 Chart 1. 16-Apr-03 23-Apr-03 30-Apr-03 7-May-03 Nominal Currency Exchange Values Noon buying rates (U.S. cents. weekly averages) Australian dollar Canadian dollar Japanese yen Restated German mark arid euro Swedish krona Swiss franc U.K. pound 60.0240 67.864 0.83269 106.95 11.6565 72.004 155.77 60.6200 68.776 0.83252 108.00 11.8076 72.077 157.18 61.6320 68.945 0.83393 109.12 11.9368 72.520 157.31 62.Q220 69.050 0.83386 H O .54 12.1093 73.390 159.39 63.4080 70.782 0.84643 112.81 12.3883 74.702 160.51 42.48 67.64 218.03 153.82 51.62 231.65 63.00 42.90 68.55 217.98 155.34 52.29 231.88 63.57 43.62 68.72 218.35 156.95 52.86 233.31 63.63 43.90 68.82 218.33 158.98 53.63 236.11 64.47 44.88 70.55 221.62 162.25 54.86 240.33 64.92 —3 .46 -2.02 -1.26 1.18 1.01 -2.30 -3.44 -2.04 -1.26 1.33 1.02 -2.27 -3.49 -2.07 -1.26 1.31 1.02 -2.28 -3.51 -2.14 -1.24 1.30 1.00 -2.29 324.98 329.84 333.54 341.38 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. -3.50 -1.98 -1.27 1.26 0.98 -2.29 322.43 Interbank Funding Rates and Official Interest Rates United States Target federal funds rate Effective federal funds Adjustment credit rate (Discount rate)* Primary credit 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* Upper bound Libor rate Lower bound United Kingdom Call money Repo rate 1.25 1.23 ND 2.25 1.25 1.27 ND 2.25 1.25 1.26 ND 2.25 1.25 1.28 ND 2.25 1.25 1.26 ND 2.25 3.25 3.00 2.75 3.50 3.10 3.00 3.50 3.25 3.Q0 3.50 3.25 3.00 3.50 3.24 3.00 3.50 2.54 2.50 1.50 3.50 2.54 2.50 1.50 3.50 2.63 2.50 1.50 3.50 2.57 2.50 1.5Q 3 .50 2.57 2.50 1.50 0.00 0.10 0.00 0.10 0.00 0.10 0.00 0.10 0.00 0.10 0.75 0.30 0.00 0.75 0.30 0.00 ' 0.75 0.30 0.00 0.75 0.31 0.0Q 0.75 0 .30 0.00 3.29 3.75 3.73 3.75 3.26 3.75 3.86 3.75 3.38 3.75 ♦Last observation: 1/8/20Q3. ♦♦First observation: 1/9/2003. ***In January 2000, the Swiss National Bank began to target the Swiss Franc 3-month LIBOR interest rate, with the aim of keeping this rate inside a range given by an upper and a lower bound. 9-Apr-03 Chart 5. 16-Apr-03 23-Apr-03 30-Apr-03 7-May-03 3-Month Interest Rates 1.23 U.S. 90-day CD's, secondary market Australian bank bill 4.ao Canadian finance paper 3.24 Euro-area interbank 2.52 0.08 Japanese CD Swedish treasury bill 3.64 Swiss interbank 0.22 3.54 U .K . interbank sterling 2.09 Weighted average foreign interest rate (Canada, euro area, Japan, United Kingdom, Switzerland, Chart 6. 1.23 4.77 3.35 2.50 0.08 3.62 0.22 3.49 2.12 5.10 4.94 5.05 4.26 4.22 4.18 4.19 4.16 4.12 4.27 4.35 4.30 0.67 0.64 0.61 2.54 2.48 2.49 4.46 4.41 4.40 3.99 4.00 3.92 3.94 3.90 3.84 Australia, and Sweden) 4.92 4.12 4.05 4.20 0.60 2.46 4.43 3.86 3.81 74.07 52.60 47.83 51.82 58.05 61.49 58.02 41.01 72.88 74.44 54.00 48.56 52.50 59.06 64.10 58.66 42.54 74.93 Long Terra Government Bellwether Bond Yields 10-year maturity, where available Canada 5.15 4.30 France Germany 4.22 4.38 Italy 0.70 Japan 2.55 Switzerland 4.48 United Kingdom Uni ted,. States 3.96 Weighted average foreign interest rate 3.98 (Canada, euro area, Japan, United Kingdom, Switzerland, Chart 7. 1.25 1.26 1.25 4.81 4.82 4.79 3.33 3.34 3.34 2.54 2.55 2.54 0 .08 0.08 0.08 3.64 3.64 3.64 0.21 0.23 0.24 3.58 3.54 3.54 2.13 2.13 2.13 Australia,, and Sweden) Stock Indexes (Wednesday figures) Canada France Germany Euro area Italy Japan Switzerland United Kingdom United States 71.80 51.08 43.90 49.94 56.36 62.41 56.30 39.02 70.49 72.55 51.44 46.37 50.29 57.17 61.46 57.32 39.77 70.97 73.72 52.69 47.19 51.45 58.07 62.05 57.56 41.26 73.31 Indices (in order, rebased to December 29, 2000) are Toronto Composite, SBF25Q, FAZ Aktien, DJ Euro Stoxx Index, Banca Italiana General, Tokyo SE (Topix) , Swiss Performance Index, Financial Times Ordinary, BYSE Camposite
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