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(616/617) r Selected Interest & Exchange Rates Weekly Series of Charts May 19,1986 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 $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 ICALE 1973=100 200 180 RATIO MARCH 197 $=100 FOREIGN CURRENCY PRICE OF U.S. DOLLAR 50 45 ITALIAN LIRA 160 40 140 35 120 30 100 25 200 180 200 180 160 JAPANESE YEN GERMAN MARK 160 140 140 120 120 100 100 80 80 140 120 140 DUTCH GUILDER CANADIAN DOLLAR 120 100 100 90 90 80 80 70 70 60 60 90 80 90 U.K. POUND 80 FRENCH FRANC 70 70 60 60 50 50 40 40 120 240 BELGIAN FRANC SWISS FRANC 100 200 90 180 80 160 70 140 60 120 I 50 1984 1986 I 1984 I IIIIllllllI I 100 1986 CHART 2 3-MONTH FORWARD EXCHANGE RATES PREMIUM (+) OR ( - ) AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER A> :ENT PER ANNUM 4 8 JAPANESE YEN + 0 — A — 0 4 I 8 4 4 I I I I 4 I 12 U. K. POUND SWISS FRANC 0 8 4 4 I 8 8 I I I I 0 I 8 DUTCH GUILDER GERMAN MARK 4 4 0 0 8 8 FRENCH FRANC ITALIAN LIRA + + 0 0 8 8 16 16 24 24 J_L 32 1984 1986 I I 1984 II I 1986 32 CHART 3 PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY U.S. c .ARS PER FINE OUNCE U.S. DOLLARS PER FINE ( 520 520 500 500 480 480 460 460 12.5 Kg BARS 440 440 AFTERNOON FIXING PRICE 420 420 400 400 380 380 360 360 340 340 320 320 300 300 280 280 260 260 1983 1984 1985 1986 CHART 4 CALL MONEY RATES WEEKLY SERIES PERCENT PER AN :NT PER ANNUM 20 20 16 16 FRANCE U. S. FEDERAL FUNDS 12 12 8 8 4 4 JAPAN 0 0 li 20 20 16 SWITZERLAND 16 CANADA 12 . Al VM/N A : I 8 8 4 4 0 I I 0 I 20 20 16 16 UNITED KINGDOM 12 - i GERMANY 8 y 4 \ r - i ^ ^ UWwv 4 i l l ! 1984 12 8 NETHERLANDS 0 12 I 1986 I I 1 1 1984 1 nil Mi ill 1 1986 0 CHART 5 3-MONTH INTEREST RATES WEEKLY SERIES NT PER ANNUM PERCENT PER Ah 14 16 U . S . CD'S CANADIAN FINANCE CO PAPER 12 14 12 10 8 10 WEIGHTED AVERAGE FOREIGN RATE 6 4 8 I I I I ill I I I 6 14 16 IFRENCH INTERBANK RATE U.K. INTERBANK STERLING 14 - 12 10 10 h I 8 I I I I - I 8 6 10 8 12 10 NETHERLANDS INTERBANK RATE GERMAN INTERBANK RATE 8 6 6 4 4 2 2 8 8 7 SWISS INTERBANK RATE JAPANESE GENSAKI RATE 6 6 4 5 2 4 0 1984 1986 1984 1986 CHART 6 EURO-DOLLAR DEPOSIT RATES LONDON AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER AL ENT PER ANNUM 16 16 3-MONTH OVERNIGHT 14 14 12 12 10 10 8 8 6 6 16 16 7-DAY 6-MONTH 14 14 12 12 10 10 8 8 6 6 16 16 1-MONTH 1-YEAR 14 14 12 12 10 10 8 8 6 6 1984 1986 1984 1986 CHART 7 SELECTED EURO-DOLLAR AND U. S. MONEY MARKET RATES DIFFERENTIAL: PLUS(+), FAVORS BORROWING IN U. S. AVERAGES FOR WEEK ENDING WEDNESDAY :NT PER ANNUM PERCENT PER A 16 16 14 14 FEDERAL FUNDS 3-MONTH DASHED LINE E U R O - D O L L A R DEPOSITS 12 12 10 10 8 8 90-DAY CD' S OVERNIGHT E U R O - D O L L A R DEPOSITS 6 6 11111111111 4 n I I 1 1 I 1 I 1 1 1 1 I I I I 1 I 1 1 4I 1 M n 2 2 DIFFERENTIAL DIFFERENTIAL 1 1 0 0 1 J I I 1984 PERCENT ON D I F F E R E N T I A L S C A L E = 2 PERCENT ON RATE SCALE 111111111111111111 n 111 I I I I I I I I I I I I II I I I I I I I I I I 1986 1984 1986 1 CHART 8 INTEREST ARBITRAGE: 3-MONTH FUNDS DIFFERENTIAL: FLUSH, INDICATES FAVOR DOLLAR ASSETS AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER AN :NT PER ANNUM 18 18 14 CANADIAN FINANCE CO. PAPER, COVERED EURO-DOLLAR DEPOSITS DASHED LINE 14 10 10 INTERBANK STERLING 6 COVERED LONDON 6 U. S. COMMERCIAL PAPER 2 2 2 2 DIFFERENTIAL DIFFERENTIAL + + 0 0 1 I II I 1 I I I I I I 11 2 2 18 18 14 INTERBANK DM SWISS INTERBANK (SF) COVERED COVERED FRANKFURT 14 10 6 10 EURO-DOLLAR DEPOSITS EURO-DOLLAR DEPOSITS DASHED LINE I IIlllll I 2 2 6 DASHED LINE 2 DIFFERENTIAL + 0 /\a> 1984 1986 1 PERCENT ON D I F F E R E N T I A L S C A L E = 2 PERCENT ON RATE S C A L E II I III I I 2 2 DIFFERENTIAL I I I a A a I 1984 4 . rx - . + 0 /) I 2 1986 CHART 9 LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES PERCENT PER Ah ENT PER ANNUM 17 17 15 „ UNITED STATES CANADA — 15 13 13 11 11 9 - - 9 7 7 15 9 13 7 SWITZERLAND UNITED KINGDOM 11 5 9 3 7 1 10 10 GERMANY JAPAN 8 8 6 6 4 4 18 18 U. S. CORPORATE MONTHLY 16 v 16 I FRANCE Aaa BONDS 14 - 14 12 — 12 - 10 NETHERLANDS I 10 MONTHLY 8 — 6 6 8 1984 1986 1984 1986 CHART 10 INDUSTRIAL STOCK INDICES WEEKLY SERIES RATIO SCALE 1969=100 RATIO SCALE 1969=100 340 300 - - 260 - - 220 - 180 140 UNITED K I N G D O M - J*J UNITED S T A T E S - - I IIIIIIIIII 100 — 340 300 - 260 — 220 — 180 - 140 - f t \[^ - - J - IN E T H E R L A N D S . GERMANY - J - aA/ I,, 100 I,, FRANCE SWITZERLAND 340 300 340 / — — 300 CANADA 260 — 220 180 — — - - - - - - JAPAN 140 I /X/ I 1984 I l,|,l||,||| I I| ,, | , , | 1986 II ( I I 1984 I I I II I II I I |I |I | — 260 - 220 — 180 | | | | | | | | 140 1986 LAST VALUE PLOTTED DATE VALUE SERIES NAME CHART 1. SPOT EXCHANGE BATES AND INDICES WEEKLY AVERAGES, NOON BUYING RATES (U.S. CENTS) 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 KATES = 14 14 14 14 14 14 14 14 14 14 45. SI 0.61471 40. 67 154. 12 72.52 14.36 55. 11 2.23907 0.06668 14. 19 MAY MAY MAY MAY MAY MAY MAY MAY MAY 14 14 14 14 14 14 14 14 14 128. 87 160. 95 116. 76 62. 33 72. 28 64. 80 177. 29 88. 23 37. 88 14 14 14 14 14 14 14 14 14 14 14 111. 32 149. 83 187. 28 129. 18 65. 14 77. 19 67. 73 196. 59 95- 79 38. 51 67. 47 14 14 14 14 14 14 14 14 -1. 89 -3. 35 2. 35 -0. 48 2. 74 1. 19 2. 28 -5. 02 100 GERMAN MARK JAPANESE YEN DUTCH GUILDER U.K. POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC BELGIAN FRANC ITALIAN LIRA WEIGHTED AVERAGE EXCHANGE VALUE INDICES, MAR iG-10 COUNTRIES PLUS SWITZERLAND) U.S. DOLLAR GERMAN MARK J A P A N E S E YEN DUTCH GUILDER U. K. POUND CANADIAN DOLLAR FRENCH FRANC SWISS F R A N C BELGIAN F R A N C ITALIAN LIRA SWEDISH KRONA MAY MAY MAY MAY MAY MAY MAY MAY MAY MAY , 1973 = 100 MAY MAY MAY MAY MAY MAY MAY MAY MAY MAY MAY CHART 2. 3-MONTH FORWARD EXCHANGE RATES, PREMIUM OR DISCOUNT CANADIAN DOLLAR U.K. POUND GERMAN MARK FRENCH FRANC SWISS F R A N C DUTCH GUILDER JAPANESE YEN ITALIAN LIRA MAY MAY MAY MAY MAY MAY MAY MAY SERIES NAME LAST 7ALIJE PLOTTED DATE VALUE CHART 3. GOLD PRICE IN LONDON, AFTERNOON FIXING HAY 14 344.39 HAY HAY HAY MAY HAY MAY MAY HAY HAY 14 14 14 14 14 14 14 14 14 6. 87 6. 81 1 0 . 30 8. 30 4.32 4. 20 7. 53 6. 25 1.00 MAY MAY HAY HAY HAY HAY HAY HAY HAY 14 14 14 14 14 14 14 14 14 6. 58 4. 56 4. 56 8. 66 10.28 4.09 7.30 5. 80 6.75 MAY MAY MAY MAY MAY MAY 14 14 14 14 14 14 6.81 6. 85 6. 86 6. 79 6.79 6. 86 OVERNIGHT EURO-DOLLAR DEPOSITS U.S. FEDERAL FUNDS DIFFERENTIAL MAY 14 MAY 14 MAY 14 6.81 6.87 -0.06 3-MONTH EURO-DOLLAR DEPOSIT RATE U.S. 90-DAY CD'S, SECONDARY MARKET DIFFERENTIAL HAY 14 HAY 14 MAY 14 6.79 6. 58 0.21 U.S. DOLLARS PEE FINE OUNCE CHART 4. CALL HONEY RATES U.S. FEDERAL FUNDS OVERNIGHT EURO-DOLLAR DEPOSITS U.K. CANADA GERMANY JAPAN FRANCE NETHERLANDS SWITZERLAND CHART 5. 3-MONTH INTEREST RATES U.S. 90-DAY CD'S, SECONDARY MARKET GERMAN INTERBANK LOAN JAPANESE GENSAKI RATE CANADIAN FINANCE PAPER INTERBANK STERLING SWISS INTERBANK LOAN FRENCH INTERBANK RATE NETHERLANDS INTERBANK RATE WEIGHTED AVERAGE FOREIGN INTEREST RATE IG-10 COUNTRIES PLUS S U T H E R L A N D ) CHART 6. EURO-DOLLAR DEPOSIT RATES: LONDON OVERNIGHT 7-DAY 1-HONTH 3-MONTH 6-MONTH 1-YEAR CHART 7. SELECTED EURO-DOLLAR AND U.S. MONEY MARKET RATES SERIES NAME LAST VALUE PLOTTED DATE VALUE CHART 8. INTEREST ARBITRAGE, 3-MONTH FUNDS EURO-DOLLAR DEPOSIT INTERBANK STERLING (LONDON), COVERED DIFFERENTIAL MAY 14 MAY 14 MAY 14 6.79 6.84 -0.05 U.S. COMMERCIAL PAPEfi CANADIAN FINANCE PAPER, COVERED DIFFERENTIAL MAY 14 MAY 14 MAY 14 6.56 6.73 -0.17 EURO-DOLLAR DEPOSIT INTERBANK DM (FRANKFORT), COVERED DIFFERENTIAL MAY 14 MAY 14 MAY 14 6.79 6.94 -0. 15 EURO-DOLLAR DEPOSIT SMISS INTERBANK, COVERED DIFFERENTIAL MAY 14 MAY 14 MAY 14 6.79 6.86 -0.07 9 9 9 2 2 9 7.44 5.66 4. 73 4.30 9.32 8.41 6.84 8.61 CHART 9. LONG TERM GOVERMENT BOND YIELDS UNITED STATES GERMANY JAPAN (MONTHLY) SWITZERLAND CANADA FRANCE NETHERLANDS (MONTHLY) UNITED KINGDOM MAY MAY MAY MAY MAY MAY FEB. MAY 9 U.S. CORPORATE AAA BONDS CHART 10, 9.67 STOCK INDICES UNITED STATES UNITED KINGDOM CANADA GERMANY SWITZERLAND NETHERLANDS FRANCE JAPAN t FEB. HAY MAY MAY MAY MAY MAY MAY MAY 7 7 7 7 7 7 7 7 243.56 295.86 302.63 297.27 197.35 305.19 406.12 333.68 FEDERAL RESERVE statistical release H.10 (512) m BAI 16, 1986 FOREIGN EXCHANGE RATES FOB TUB BBBK E1DIBG BAT 16, 1986 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: COUBTRY HONETARI OBIT •AUSTRALIA AUSTRIA BELGIUB BRAZIL CABADA CHINA,p.a. DENMARK FIBLABD FRANCE GERBABY GREECE H01G KOBG IBDIA •IRELABD ITALY JAPAB HALAISIA BETHERLABDS •BEB ZEALABD BOBMAX PORTUGAL SIBGAPORE •SOOTH AFRICA SOOTH KOREA SPAIB SRI 1ABKA SBEDEB SWITZERLAND TAINAN THAILABD •UNITED KINGDOB DOLLAR SCHILLING FRABC CRUZADO DOLLAR YUAN KROBE BARKKA FRANC D. HARK DRACHHA DOLLAR RUPEE POUBD LIRA IEB RIBGGIT GUILDER DOLLAR KROBE ESCUDO DOLLAR RAED BOB PESETA RUPEE KROBA FRABC DOLLAR BAHT POUBD BEfav: #0111 TED STATES DOLLAR flAI 12 CORRRBCY UNIT 55 PKR nOLlJB) BAY 13 BAY 14 BAY 15 BAY 16 74. 65 15, 297 44. 470 13. 84 1. 3802 3. 1935 0500 4. 9600 6 . 9270 2m 1740 136. 200 7, 8085 12. 3200 139. 85 1493. 00 161. 15 2. 5850 2. 4490 58. 900 7. 4350 145. 900 2. 2050 47. 40 887. 80 138. 350 27. 923 7. 0400 1. 8045 38. 490 26. 230 154. 60 73. 07 15. 470 44. 900 13.84 1.3790 3. 1935 8. 1400 5. 0050 7. 0000 2. 1980 138. 250 7. 8090 12.3200 138.2 5 1509. 00 163.0 0 2. 5815 2. 4765 56. 100 7. 5100 147. 400 2. 2085 46. 80 887. 40 139. 900 27. 920 7. 1000 8260 38. 470 26. 200 153.48 71. 10 15. 3 7 7 44. 700 13. 84 1. 3780 3. 1935 8. 0965 4. 9930 6. 9650 2. 1845 137. 600 7. 8130 12. 3800 139. 10 1503. 00 163. 30 2. 5840 2. 4625 56. 300 7. 4650 147. 300 2. 2140 46. 10 887. 90 139. 450 27. 928 7. 0725 1. 8175 38. 460 26.290 153. 95 71. 48 15. 455 44. 880 13. 84 1.3755 3. 1935 8. 1325 5. 0140 7. 0090 2m 1970 137. 500 7. 8120 12.3600 138.2 5 1508. 00 163. 60 2. 5900 2. 4747 55. 950 7. 4830 147. 150 2. 2 1 3 5 46. 15 888. 40 139. 700 27. 925 7. 07*0 1. 8290 38. 660 26.250 153.,50 72. 08 15. 550 45. 150 13. 84 1.3760 3. 1935 8. 1940 5. 1210 7. 0450 2. 2110 138. 750 7. 8120 12. 4300 137. 45 1517. 00 165. 40 2. 5960 2. 4900 55. 050 7. 5440 14b. 500 2. 2130 46. 00 888. 40 140. 500 27. 930 7. 1100 1. 8415 38. 420 26. 280 152. 55 110. 85 111.89 111. 49 111.90 112. 58 8. 1. COUBTBIBS. MAfiCH 1973 = 100. HEIGHTS ABB 1972-76 GLOBAL Til ADS OF BACB Of THE 10 COOBTBIBS. SBBIBS BBVISED AS OF AUGUST 1978. FOB D BS C M PT10* AID BACK DATA, SBE OF 1KB WEIGHTED-AVEBAGE BZCBABGE VALUE OF IBB U.S. DOLLA1: BEVISION" OB PAGE 700 OF THE AUGUST 1978 FBOBBAL BBSBBVB BOLLBTIM. *VALUE IS U.S. CBBTS
@FedFRASER