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(516/517) Selected Interest & Exchange Rates M a y 18, 1987 Prepared by the FINANCIAL MARKETS SECTION DIVISION OF INTERNATIONAL FINANCE BOARD OF GOVERNORS FEDERAL RESERVE SYSTEM Washington, D C. 20551 Table of Contents TABLES SUBSCRIPTION RATES: 1. LATEST FIGURES PLOTTED Weekly $15.00 per year or $.40 each in the United States, its possessions, Canada, and Mexico; 10 or more of the same issue to one address, $13.50 per year or $.35 each. Elsewhere, $20.00 per year or $.50 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. 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 CHART 1 SPOT EXCHANGE INDICES DOLLAR PRICES OF FOREIGN CURRENCIES AND WEIGHTED AVERAGE VALUES (THIN LINE) AVERAGES FOR WEEK ENDING WEDNESDAY RATIO SCALE MARCH 1973=100 RATIO SCALE MARCH 1973=100 FOREIGN CURRENCY PRICE OF U.S. DOLLAR - . ITALIAN LIRA - V V yvv - | 200 — 180 — 160 _ | | I I I ^ — 140 - 35 - 30 - 25 20 — | 200 180 — y — J I 100 - N 40 I|||||,||,| J 120 I - 160 - I 50 45 JAPANESE YEN GERMAN MARK I - i I 11111111111 I I I I I I I I I II I I 140 — 120 - 100 M | I I | I I |80 I I I ~l DUTCH GUILDER CANADIAN DOLLAR - 120 J* — 100 - - - I I | | | | | | | | | — 90 - ^ FRENCH FRANC : - J — I I I I I BELGIAN FRANC =: 80 - 70 - 60 — 1 1 1 1 1 1 1985 ^^X/V_zx. 1987 70 - 60 - 50 /V 180 Z 160 140 V\/ 120 I 1 - 200 - . — 90 80 240 SWISS FRANC 100 — | | | | | | I| || || |||| | | 40 | | | | — 120 50 I V ArJ ^~V/V I 40 70 60 — U.K. POUND 90 80 - — 140 I I I I I 1985 I III III III I I 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 I I I I I I \ — I I I I I I I I I I I I I I LILNII,LLL U. K.POUND SWISS FRANC , I I I I I I I I I I I I I I I II II II I I I I I II I I I I I I DUTCH GUILDER GERMAN MARK — — I I I I I I iiliiliiln I I I I I I iilnliilii nli.liihi FRENCH FRANC 1985 1987 1985 1987 CHART 3 PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY U.S. [ 3S_P&R 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 I I I I I I I I I 1984 1985 1986 260 1987 CHART 4 CALL MONEY RATES WEEKLY SERIES PERCENT PER ANNUM PERCENT PER ANNUM 16 16 FRANCE 12 U.S. FEDERAL FUNDS A . -OA - I - 0 I I I I I V-v" : JAPAN I I I I I I 12 0 I 16 16 CANADA 12 12 GERMANY UNITED KINGDOM SWITZERLAND NETHERLANDS 1985 1987 1985 1987 CHART 5 3-MONTH INTEREST RATES WEEKLY SERIES PER ENT PER ANNUM PERCENT PER Ah 14 16 CANADIAN FINANCE CO. PAPER U.S. CD'S 12 14 10 - 8 10 WEIGHTED AVERAGE FOREIGN RATE 6 \ I 4 I I II I I I I I I f - II I I i l l i l l I 14 — U.K. INTERBANK STERLING FRENCH INTERBANK RATE 14 — 12 12 10 10 Vz 8 I I I I I - 8 6 I 10 10 NETHERLANDS INTERBANK RATE 8 - GERMAN INTERBANK RATE 6 8 6 4 - I I I I I - I I I I I I 4 2 I 10 8 8 6 16 2 12 8 SWISS INTERBANK RATE JAPANESE GENSAKI RATE 6 - 6 4 4 2 2 - I I 1985 I 0 1987 1985 1987 CHART 6 EURO-DOLLAR DEPOSIT RATES LONDON AVERAGES FOR WEEK ENDING WEDNESDAY ENT PER ANNUM PERCENT PER Al 14 OVERNIGHT 3-MONTH 12 10 8 6 II II II 4 14 7-DAY 6-MONTH 1-MONTH 1-YEAR 12 10 8 6 4 14 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 14 FEDERAL FUNDS 12 90-DAY CD' S DASHED LINE 10 - 8 - 6 - 12 DASHED LINE 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 J DIFFERENTIAL 1 1 1 1 I I I I I I I I I I I I I ' I I I I I I I I I DIFFERENTIAL - A aM A M I I AAM a I I J\ A A zx aA I I 1 1 1 1 1 1 1 1 1 1 1 1 1' 1 1 1 1 1 1 1 1 1 1 1 I 1A 1985 1 PERCENT ON DIFFERENTIAL S C A L E = 2 PERCENT ON RATE S C A L E 0 1987 I I I I I 1985 I I I I I I I I I I 1I1I1 1 1 1 1 1 1 1 1 1987 4 CHART 8 INTEREST ARBITRAGE: 3-MONTH FUNDS DIFFERENTIAL: PLUS(+), INDICATES FAVOR DOLLAR ASSETS AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER ANNUM PERCENT PER ANNUM 18 18 14 CANADIAN FINANCE CO. PAPER, COVERED INTERBANK STERLING COVERED LONDON 14 10 10 EURO-DOLLAR DEPOSITS DASHED LINE U. S. COMMERCIAL PAPER DASHED LINE J_± DIFFERENTIAL 2 I I i I I 2 2 DIFFERENTIAL I I 2 18 18 INTERBANK DM 14 SWISS INTERBANK (SF) COVERED COVERED FRANKFURT 14 10 10 EURO-DOLLAR DEPOSITS EURO-DOLLAR DEPOSITS DASHED LINE DASHED LINE DIFFERENTIAL DIFFERENTIAL A V Vz\ I I I i l l ii h i l l i 1985 1 PERCENT ON DIFFERENTIAL 1987 S C A L E = 2 PERCENT ON RATE S C A L E LL 1985 1987 CHART 9 LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES PEF ENT PER ANNUM PERCENT PER AL NUM 16 16 UNITED STATES . CANADA 14 - 14 12 12 10 10 8 8 6 1 1 1 1 1 1 1 I I I I I I I IIIIIIIIII 14 12 6 10 UNITED KINGDOM - JAPAN - 10 8 6 8 - 6 I I I I I I 4 2 8 10 GERMANY 6 SWITZERLAND 8 4 6 2 4 17 17 U. S. C O R P O R A T E 15 MONTHLY FRANCE 15 Aaa B O N D S 13 13 11 11 NETHERLANDS MONTHLY 9 9 7 7 I I I I I III I I I 5 1985 1987 5 1985 1987 CHART 10 INDUSTRIAL STOCK INDICES WEEKLY SERIES RATIO SCALE 1969=100 RATIO SCALE 1969=100 500 500 400 - - — UNITED KINGDOM 300 200 - 300 UNITED STATES - - I I I I I r* - lllllllllll I i i 200 i i i i l l 11 h i l l i 100 i 650 — — /V 550 - 450 350 400 / - 100 650 - - - — — JAPAN / FRANCE 250 - 550 - 450 - 350 j — 250 / 150 150 400 _ Jl . - r / T — 200 - 150 , 300 200 SWITZERLAND — CANADA 250 — — 500 I lllllllllll i I I I I I I 100 500 500 400 400 NETHERLANDS 300 GERMANY - K J \ k A v ^ - 200 200 100 300 I I I I I 1985 I 11111111111 1987 I I I 1001 1985 1987 SEBIfiS NAHE LAST VALUE PLOTTED DATE VALUE C H A M 1. SPOT EXCHANGE BATES AMP INDICES WEEKLY AVBHAGES, HOOH B01 IMG BATES (U.S. CENTS) GEBHAN HABK JAPANESE YEN DUTCH GUILDEB ILK. POUND CANADIAN DOLLAB F«£NCH FBANC SWISS FBANC BELGIAN FBANC ITALIAN LIBA SWEDISH KBONA HAY HAY HAY HAY HAY HAY HAY HAY HAY HAY 13 13 13 13 13 13 13 13 13 13 HAY HAY HAY HAY HAY HAY HAY HAY HAY 13 13 13 13 13 13 13 13 13 157.28 187.60 142.39 67.56 74.56 75.42 218.87 106. 19 43. 98 13 13 13 13 13 13 13 13 13 13 13 95.93 165.30 195.02 14*. 92 62.57 70.36 70. 40 216.46 102. 92 39.87 67.60 13 13 13 13 13 13 13 13 -9.88 55.91 0.71646 49.60 167.04 74.81 16.74 68.03 2.69472 0.07742 15.98 INDICES, HABCH 1973 BASE RATES = 100 GEBHAN HABK JAPANESE YEN DUTCH GUILDEB U.K. POUND CANADIAN DOLLAB FBENCH FBANC SWISS FBANC BELGIAN FBANC ITALIAN LIBA WEIGHTED AVERAGE EXCHANGE VALUE INDICES, HAS 1973 = 100 (G—10 COUNTBIES PLUS SWITZERLAND) U.S. DOLLAB GEBHAN HABK JAPANESE YEN DUTCH GUILDEB U.K. POUND CANADIAN DOLLAB FBENCH FBANC SWISS FBANC BELGIAN FBANC ITALIAN LIBA SWEDISH KBONA HAY HAY HAY HAY HAY HAY HAY HAY HAY HAY HAY CHABT 2. 3-HONTfl FOBWABD EXCHANGE BATES, PBEHIUH OM DISCOUNT CANADIAN DOLLAB U. K. POUND GEBHAN HABK FBENCH FBANC SWISS FBANC DUTCH GUILDEB JAPANESE YEN ITALIAN U S A HAY HAY HAY HAY HAY HAY HAY HAY -1.58 3.51 -1. 18 3.47 1.93 3.50 -2.59 e SERIES SAKE LAST VALUE PLOTTED DATE VALUE CHART 3. GOLD PRICE IH LONDON, AFTERNOON FIXING O.S. DOLLARS PER FINE OUNCE HA I 13 455.74 U.S. FEDERAL FORDS OVERHIGH! EURO-DOLLAR DEPOSITS 0.K. HAY 13 MAI 13 MAY 13 6-75 6.56 9.22 CAUDA J " MAI 13 3.5/ FRAHCB NETHERLANDS SWITZERLAND HA I It 13 MAI 13 HAI 13 J/. * « 5. 16 1.00 MAY MAY MAY MAY MAY MAY MAY MAY MAY 13 13 13 13 13 13 13 13 13 6.85 3.78 3.81 8.04 8.79 3.60 8.06 5.15 5.99 MAY MAY MAY MAY MAX MAY 13 13 13 13 13 13 6.56 6.65 6.81 7.10 7.33 7.74 OVERNIGHT EURO-DOLLAR DEPOSITS U.S. FEDERAL FUNDS DIFFERENTIAL MAY 13 MAY 13 MAY 13 6.56 6.75 -0.19 3-MONTH EURO-DOLLAR DEPOSIT RATE U.S. 90-DAY CD'S, SECONDARY MARKET DIFFERENTIAL MAY 13 MAY 13 MAY 13 CHART 4. CALL MONEX RATES GERMANY » CHART 5. 3-MONTH INTEREST RATES O.S. 90-DAY CD'S* SECONDARY MARKET GERMAN INTERBANK LOAN JAPANESE GENSAKI BATE CANADIAN FINANCE PAPER INTERBANK STERLING SWISS INTERBANK LOAN FRENCH INTERBANK RATE NETHERLANDS INTERBANK BATE WEIGHTED AVERAGE FOREIGN INTEREST RATE (G—10 COUNTRIES PLUS SWITZERLAND) CHART 6. EURO-DOLLAR DEPOSIT BATES: LOUDON OVERNIGHT 7-DAY 1-MONTH 3-MONTH 6-MONTH 1—YEAR CHART 7. SELECTED EURO-DOLLAR AND U.S. MONEY MARKET BATES 7. 10 6. 85 0.25 # SERIES NAME LAST VALUE PLOTTED DATE VALUE CHART 8. INTEREST ARBITRAGE, 3-flONTH FUNDS EURO-DOLLAR DEPOSIT INTERBANK STEELING (LONDON) , COVERED DIFFERENTIAL MAI 13 MAI 13 MAX 13 7. 10 7. 17 -0.07 O.S. COMMERCIAL PAPER CANADIAN FINANCE PAPER, COVERED DIFFERENTIAL MAI 13 MAI 13 MAI 13 6.83 7. 14 -0.31 EURO-DOLLAR DEPOSIT INTERBANK DM (FRANKFURT) , COVERED DIFFERENTIAL MAI 13 MAI 13 MAI 13 7. 10 7.32 -0.22 EURO—DOLLAR DEPOSIT SWISS INTERBANK, COVERED DIFFERENTIAL MAI 13 MAI 13 MAI 13 7. 10 7. 11 -0.00 MAI 8 MAI 8 MAI 15 APRIL 24 APRIL 24 MAI 8 MARCH MAI 8 8. 49 5.26 3. 17 4. 12 9. 59 9. 46 6.22 8.66 MARCH 8.36 CHART 9. LONG TERM GOVBBMENT BOND YIELDS UNITED STATES GER8ANI JAPAN (HONTHLI) SWITZERLAND CANADA FRANCE NETHERLANDS (EONTHLX) UNITED KINGDOM U.S. CORPORATE AAA BONDS CHART 10. STOCK INDICES UNITED STATES ONITED KINGDOM CANADA GERMANY SWITZERLAND NETHERLANDS FRANCE JAPAN MAX MAI MAI MAI MAI MAX MAI MAI 6 6 6 6 6 6 6 6 323.32 360.67 373.14 256.86 197.88 307.83 453.71 565.94 .•obicoy// FEDERAL RESERVE statistical release H.10(512) MAY 15, 1987 FOREIGN EXCHANGE RATES FOR TIC HESt ENOTNC M Y 15, 1967 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: MONETARY UNIT MAY 11 •AUSTRALIA AUSTRIA BELGIUM BRAZIL CANADA CHINA,P.R. DENMARK FINLAND FRANCE GERMANY GREECE HONG KONG INDIA •IRELAND ITALY JAPAN MALAYSIA NETHERLANDS *NEH ZEALAND NORWAY PORTUGAL SINGAPORE •SOUTH AFRICA SOUTH KOREA SPAIN SRI LAMCA SWEDEN SWITZERLAND TAIWAN 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 WON PESETA RUPEE KRONA FRANC DOLLAR BAHT POUND 71.31 12.645 37.310 NA 1.3350 3.7314 6.7680 4.3800 6.0000 1.7965 134.050 7.8035 12.6600 148.67 1297.50 139.50 2.4725 2.0260 57.600 6.6890 137.750 2.1235 49.55 835.90 126.050 28.995 6.2850 1.4785 32.550 25.590 165.80 71.61 12.570 37.110 NA 1.3358 3.7314 6.7275 4.3590 5.9760 1.7895 133.200 7.8035 12.7000 149.60 1293.00 139.60 2.4710 2.0170 57.700 6.6620 138.900 2.1220 49.70 836.00 125.350 28.995 6.2630 1.4690 32.510 25.610 166.92 MEMO: SUNITED STATES DOLLAR 96.29 95.96 COUNTRY (CURRENCY UNITS PER DOLLAR) MAY 12 MAY 13 MAY 14 MAY 15 71.20 12.580 37.130 NA 1.3393 3.7314 6.7430 4.3630 5.9750 1.7900 133.650 7.8043 12.7000 149.35 1295.25 139.76 2.4730 2.0170 57.470 6.6750 139.000 2.1225 49.65 834.90 125.570 NA 6.2650 1.4705 32.490 25.620 167.15 71.42 12.560 37.030 NA 1.3391 3.7314 6.7230 4.3520 5.9650 1.7870 133.100 7.8030 12.6500 149.60 1293.00 139.50 2.4700 2.0145 57.700 6.6570 139.150 2.1222 49.70 835.00 125.150 28.995 6.2560 1.4695 32.490 25.630 167.78 71.76 12.534 36.910 NA 1.3403 3.7314 6.6985 4.3400 5.9500 1.7790 132.600 7.7990 12.6200 150.18 1288.00 139.80 2.4690 2.0040 57.800 6.6450 138.450 2.1190 50.10 833.20 124.600 28.995 6.2390 1.4616 32.440 25.610 167.83 96.01 95.84 95.62 •INDEX 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 IS U.S. CENTS
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