Full text of H.13 Selected Interest and Exchange Rates, Weekly Series of Charts : May 23, 1994

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

(516/517)

Selected Interest &
Exchange Rates
Weekly Series of Charts

May 23,1994

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 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




SUBSCRIPTION RATES:
Weekly $30.00 per year or $.70 each in the United
States, its possessions, Canada, and Mexico.
Elsewhere. $35.00 per year or $.80 each. Address
requests to Publications Services Division of
Support 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
RATIO SCALE
MARCH 1973=100
120

RATIO SCALE
MARCH 1973=100

FOREIGN CURRENCY
PRICE OF U.S. DOLLAR

BELGIAN FRANC

i

I

I

i

i

i

l

i

i

'

I

JAPANESE YEN

SWISS FRANC

I

l

I

U.K. POUND

CANADIAN DOLLAR
i

DUTCH GUILDER

i

i

I

i

GERMAN MARK

I

55
45

'

i




i

I

'

i
1992

35

ITALIAN LIRA

FRENCH FRANC

i

I

i

i

i

I

i

i
1994

i

i

I

i

i
1992

i

I

'

i

i

I

i

'
1994

»

25

CHART 2

3-MONTH FORWARD EXCHANGE RATES
PREMIUM M OR (-)
AVERAGES FOR WEEK ENDING WEDNESDAY
PERCENT PER ANNUM

PERCENT PER ANNUM

2

2
U.K. POUND

i

v

*
I

0

I

i

i

I

J

-

i1

1 1

^
1

I

I

1

SWISS FRANC

DUTCH GUILDER

FRENCH FRANC

ITALIAN LIRA

I

1

i

I

i

1

2
4

6
8
10

12

»

i




i

l

i

i
1992

i

JAPANESE YEN

CANADIAN DOLLAR

+

i

i

I

1

1

'

I

» » »
1994

1992

1994

CHART 3

PRICE OF GOLD IN LONDON
A V E R A G E S FOR W E E K ENDING W E D N E S D A Y

U.S. DOLLARS PER FINE OUNCE
420

U.S. DOLLARS PER FINE OUNCE
420

400

12.5 Kg BARS
AFTERNOON FIXING PRICE

—

400

380

380

360

360

340

340

320
1991




1992

1993

320
1994

CHART 4

CALL MONEY RATES
WEEKLY SERIES
PERCENT PER ANf

)ENT PER ANNUM

10

8
SWITZERLAND

8
U.S. FEDERAL FUNDS

6

6

4
4

JAPAN
2

2

i

i

i

I

i

'

i

I

i

i

'

I

i

i

i

i

l

i

i

'

l

i

i

i

l

i

i

i

0
10

10

9

9

8

8

GERMANY
NETHERLANDS

7

7

6

6

5
16

i

i

i

I

i

'

i

14

l

i

i

i

l

i

i

I

i

i

i

i

I

i

i

i

I

n i

i

5
14

12

FRANCE

CANADA

12

10

10

8

8

6

6

4

UNITED KINGDOM
4

I

I

I




i
i
1992

I

i

i

i

i

i
1994

i

•

i

'

i

i

i
1992

'

I

i

i

i

I

i

i
1994

'

2

CHART 5

3-MONTH INTEREST RATES
WEEKLY SERIES
PERCENT PER ANNUM

PERCENT PER ANNUM
12

13
WEIGHTED AVERAGE
FOREIGN RATE
CANADIAN FINANCE PAPER

U.S. CD'S

U.K. INTERBANK STERLING

NETHERLANDS INTERBANK RATE

JAPANESE CD RATE

FRENCH INTERBANK RATE

SWISS INTERBANK




GERMAN INTERBANK RATE

1992

1994

1992

1994

CHART 6

EURO-DOLLAR DEPOSIT RATES LONDON
AVERAGES FOR WEEK ENDING WEDNESDAY
PERCENT PER ANNUM
10

PERCENT PER ANNUM
10

3-MONTH

OVERNIGHT

7-DAY

i

i

I

I

I

I

i

i

i

I

I

I

I

2
10

6-MONTH

I

i

i

i

I

i

'

i

I I

i

i

i

I

i

i

i

I

2
10

1-YEAR

1-MONTH

»

I




i

i
1992

i

I

i

'

'

l

i

i
1994

i

'

'

'

I

i

i
1992

i

l

'

•

i

I

i

i
1994

i

CHART 7

SELECTED EURO-DOLLAR AND U.S. MONEY MARKET RATES
DIFFERENTIAL: PLUS(+), FAVORS B O R R O W I N G IN U.S.
AVERAGES FOR WEEK ENDING WEDNESDAY
PERCENT PER ANNUM

PERCENT PER ANNUM

10

10

3-MONTH

OVERNIGHT

EURO-DOLLAR DEPOSITS

EURO-DOLLAR DEPOSITS

FEDERAL FUN

90-DAY CD'S

DASHED LINE

DASHED LINE

DIFFERENTIAL

DIFFERENTIAL

a

Yi/Ww
J




I

I

I

L
1992

J — I — I

I

I

L
1994

J

I

L

amAi,

J

I
1992

L

J

i

i

I

i

i
1994

CHARTS

INTEREST ARBITRAGE: 3-MONTH FUNDS
DIFFERENTIAL: PLUS(+), INDICATES FAVOR DOLLAR ASSETS
AVERAGES FOR WEEK ENDING WEDNESDAY
PERCENT PER ANNUM

PERCENT PER ANNUM

8

CANADIAN FINANCE
CO. PAPER, COVERED

INTERBANK STERLING

6

COVERED LONDON

4

U.S. COMMERCIAL PAPER

EURO-DOLLAR DEPOSITS
1
DASHED LINE

DASHED LINE
2

2
1

DIFFERENTIAL

DIFFERENTIAL

1

1

8

6

INTERBANK DM

SWISS INTERBANK (SF) COVERED

COVERED FRANKFURT

4

EURO-DOLLAR DEPOSITS

EURO-DOLLAR DEPOSITS
DASHED LINE

DASHED LINE

2
1

DIFFERENTIAL

DIFFERENTIAL
+

0

1




1992

1994

1992

1994

CHART 9

LONG-TERM GOVERNMENT BOND YIELDS
WEEKLY SERIES
PERCENT PER ANNl

RCENT PER ANNUM

9
UNITED KINGDOM

UNITED STATES
8

7
6
5
4

i

i

i

I

i

i

i

I

i

i

i

I

i

i

i

•

i

i

I

i

i

'

l

i

i

i

I

i

i

11

FRANCE

CANADA
10

9
8
7

i

6
8

I

i

i

i

I

i

i

i

I

i

i

i
JAPAN

SWITZERLAND
7
6
5
4
3

i

i

i

I

i

i

i

I

i

i

< I

•

'

i

10

NETHERLANDS

GERMANY

9
8

7
6
5




1992

1994

1992

1994

i

CHART 10

STOCK INDICES
WEEKLY SERIES
RATIO SCALE
1986=100

RATIO SCALE
1986=100

220

210

— UNITED KINGDOM

UNITED STATES

190
170
150
130
i

i

i

I

i

' •

I

i

i

i

I

i

i

i

i

i

i

I

i

i

i

I

'

i

'

I

i

i

i

110

160
JAPAN

SWITZERLAND

140
120

—

•

i

i

l

'

i

i

l

i

i

i

l

i

'

i

i

i

I

i

'

i

I

'

i

i

i

i

100

80

180

GERMANY

CANADA

165

140

150

120

135
120

100
105
80
210

195

i

i

i

I

i

i

i

I

i

'

i

I

i

i

i

FRANCE

i

i

i

I

i

i

i

I

i

i

i

I

i

i

i

— NETHERLANDS

90
160

180

145

165

130

150
115

135

100

120
105

•

i

i

1 i




i i
1992

l

i

i

i

I

'

i i
1994

l
1992

i

i

i

I

i

' '
1994

85

20-Apr-94 27-Apr-94 4-May-94
Chart 1.

ll-May-94 18-May-94

Spot Exchange Rates and Indices

Noon buying rates

(U.S. cents, weekly averages)

Belgian franc
Canadian dollar
French franc
German mark
Italian lira
Japanese yen
Netherlands guilder
Swiss franc
U.K. pound

2.8450
72.194
17.099
58.580
0.06123
0.96586
52.167
69.080
147.70

2.8864
72.571
17.321
59.445
0.06199
0.96937
52.881
69.814
149.67

2.9351
72.300
17.643
60.426
0.06276
0.98269
53.813
71.020
151.01

2.9158
72.417
17.517
60.049
0.06257
0.96803
53.476
70.405
149.41

2.9135
72.551
17.504
59.992
0.06259
0.95815
53.401
70.406
150.31

112 .11
71 .95
77 .05
164 .79
35 .15
252 .89
149 .76
222 .24
59 .74

113.74
72.33
78.05
167.22
35.58
253.81
151.81
224.60
60.54

115 .66
72 .06
79 .50
169 .98
36 .03
257 .30
154 .49
228 .48
61 .08

114 .90
72 .18
78 .94
168 .92
35 .91
253 .46
153 .52
226 .50
60 .43

114 .80
72 .31
78 .88
168 .76
35 .92
250 .88
153 .30
226 .50
60 .80

109 .24
65 .72
72 .27
175 .15
30 .82
268 .85
149 .02
53 .23
219 .54
54 .20
92 .43

109 .14
66 .24
72 .16
175 .05
30 .91
266 .05
148 .93
53 .10
218 .86
53 .90
93 .11

109 ,
.14
66 .43
72 .16
175 .02
30 .95
263 .27
148 .85
52 .96
219 .06
54 ,
.31
93 .21

-1.73
-1.67
-1.22
-3.59
1.95
-1.09
0.21
-1.01

-1 .72
-1 .41
-0 .89
-3 .53
2 .16
-0 .81
0 .48
-0 .87

-1 .68
-0 .91
-0 .41
-3 .07
2 .52
-0 .38
0 .80
-0 .48

-1..52
-0..83
- 0 . .41
-2 .93
2,.61
- 0 ,.33
0 .71
-0 .47

375 .44

372.90

375 .01

377 .91

380..47

3 .59
3 .50
5 .67
6 .01
5 .50
2 .10
5 .27
3 .93
4 .83

3.59
3.55
5.56
5.94
5.32
2 .11
5.25
3.78
5.05

3 .76
3 .61
5 .65
5 .85
5 .56
2 .15
5 .24
3 .83
4 .72

3 .70
3 .75
5 .63
5 .78
5 .40
2 .06
5 .23
4 .10
4 .85

4 .02
,
3..80
5,.70
5..67
5 .32
2 .02
5 .09
4 .08
,
4 .50
.

Indices, March 1973 base rates = 100
Belgian franc
Canadian dollar
French franc
German mark
Italian lira
Japanese yen
Netherlands guilder
Swiss franc
U.K. pound

Weighted average exchange value indices , Mar. 19731 = 100
Belgian franc
Canadian dollar
French franc
German mark
Italian lira
Japanese yen
Netherlands guilder
Swedish krona
Swiss franc
U.K. pound
U.S. dollar
Chart 2.

-1 .79
-l .86
-1 .44
-3 .70
1 .86
-1 .15
0 .09
-1 .06

Gold Price in London, Afternoon Fixing

U.S. dollars per fine ounce
Chart 4.

108.55
66.75
71.66
173.99
30.77
267.98
147.96
52.45
218.10
54.31
93.71

3-Month Forward Exchange Rates, Premium or Discount

Canadian dollar
French franc
German mark
Italian lira
Japanese yen
Netherlands guilder
Swiss franc
U.K. pound
Chart 3.

107 .91
67 .01
71 .33
172 .77
30 .66
269 .53
147 .20
52 .46
217 .71
54 .04
94 .76

Call Money Rates

U.S. federal funds
Overnight Euro-dollar deposits
Canada
France
Germany
Japan
Netherlands
Switzerland
United Kingdom




20-Apr- 94 27 -Apr- 94 4 -May-!94
Chart 5.

3-Montn Interest Rates

U.S. 90-day CD's, secondary market
Canadian finance paper
French interbank rate
German interbank rate
Japanese CD rate
Netherlands interbank rate
Swiss interbank rate
U.K. interbank sterling
Weighted average foreign interest rate
(G-10 Countries)
Chart 6.

4.
.00
6.,04
5.
,91
,50
5.
2.
,27
,20
5.
3 .91
5.,10
,07
5.

4 .10
6. 14
5 .79
5 .35
2 .27
5 .24
3 .91
5. 09
5 .04

4 .22
6 .16
5 .68
5 .28
2 .27
5 . 14
3 .88
5 . 14
5 .01

4 .61
6.,48
5 .59
5.
,08
2.
,24
5.
,04
3.
,88
,19
5.
4.
,94

4 .61
6.,57
5. 43
4 .99
2 .17
4 .95
3 .88
5 .11
4 .83

3 .50
3 .58
3 .70
4 .00
4 .39
5 .04

3
3
3
4
4
5

3 .61
3 .71
3 .89
4 .21
4 .59
5 .23

3 .75
3 .91
4.
,20
4 .60
4.
,98
,60
5.

3 .80
4 .01
4 .28
4 .63
5. 05
5 .63

Euro-Dollar Deposit Rates

Overnight
7 - day
1 - month
3-month
6-month
1-year
Chart 7.

11 -May- 94 18-May- 94

.55
.69
.80
.13
.50
.14

Selected Euro-dollar & U.S. Money Market Rates

Overnight Euro-dollar deposits
U.S. federal funds
Differential

3 .50
3 .59
-0 . 09

3 .55
3 .59
-0 . 04

3 .61
3 .76
-0 .15

3 .75
3 .70
0 . 05

3 .80
4 .02
-0. 22

3-mcnth Euro-dollar deposit
U.S. 90-day CD's, secondary market
Differential

4 .00
4 .00
- 0 . 00

4 .13
4 .10
0 . 03

4 .21
4 .22
- 0 . 01

4 .60
4 .61
- 0 . 01

4 .63
4.
,61
0. 02

Euro-dollar deposit
Interbank sterling (London), covered
Differential

4 .00
4 .03
- 0 . 03

4 .13
4 .07
0 . 05

4 .21
4 .26
- 0 .05

4 .60
4 .70
- 0 . 10

4.
,63
4.
.63
- 0 . ,01

U.S. commercial paper
Canadian finance paper, covered
Differential

4
4
-0

.05
.
,23
. 18

4 .14
4 .39
- 0 . 25

4 .24
4 .41
- 0 .18

4 .65
, 77
4.
- 0 . 13

4.
,68
5.,03
- 0 . ,35

Eurc-dollar deposit
Interbank DM (Frankfurt), covered
Differential

4.
,00
4.
,04
- 0 .,04

4 .13
4 .12
0 . 01

4 .21
4 .38
- 0 .17

4 .60
4 .66
- 0 . 06

4 .63
4 .57
0.,05

Euro-dollar deposit
Swiss interbank, covered
Differential

4.
.00
4.
,00
-0 .
.00

4 .13
4 .12
0 . 00

4 .21
4 .36
- 0 .15

4 .60
4 .68
- 0 . 08

4.
,63
4 .59
0.,03

8. 04
6. 84
6. 61
4 .03
4 .79
6. 70
7 .76
6. 89

8 .24
6 .85
6 .58
3 .97
4 .73
6 .64
7 .95
7 .09

8.
,52
7.
,04
6. 70
4 .01
4 .77
6. 79
8. 21
7 .34

8.,40
6.,84
6.,54
3.
,90
4.
.71
6..60
8.,08
7 .19

Chart: 8.

Chart 9.

Interest Arbitrage, 3 - Month Funds

Long Term Government Bellwether Bond Yields
10-year maturity, where available

Canada
France
Germany
Japan
Switzerland
Netherlands
United Kingdom
United States
Chart 10.

Stock Indices

8..22
6.,73
6. 46
4.
,03
4.
,56
6.,61
7.
,70
7.
,05
(Wednesday figures)

Canada
136.,83
142 .89
142 .24
138 .90
France
165,,91
168 .85
168 .33
169 .38
Germany
124 .80
127 .68
127 .95
12 7 ,03
Japan
122 .00
121 .10
120 .49
123 .64
Netherlands
152 .,47
154 .20
150 .36
151. 98
Switzerland
233 .12
235 ., 14
228 .64
221 .17
United Kingdom
191.,07
194 .72
191 .15
193 .32
United States
179 .,86
184 .08
184 .33
179 .75
Indices (in order, rebased to 1986=100) are Toronto Composite, CAC General spliced
at 22dec94, FAZ Aktien, Tokyo SE (Topix), CBS All-General, Swiss Bank Index,
Financial
Times Ordinary, NYSE Composite



142 .,56
171 „,70
128. 61
123 .,61
152 ..74
227 ..00
191.,21
184 .,32
to SBF250

FEDERAL RESERVE statistical release
May 23, 1994

H.10(512)

FOREIGN EXCHANGE RATES
FOR THE WEEK ENDING

MAY 20, 1994

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 ,n foreign currencies:

COUNTRY

MONETARY
UNIT

DOLLAR
^AUSTRALIA
SCHILLING
AUSTRIA
FRANC
BELGIUM
DOLLAR
CANADA
YUAN
CHINA,P.R.
KRONE
DENMARK
*EUR0 COMMUNITY ECU
MARKKA
FINLAND
FRANC
FRANCE
D. MARK
GERMANY
DRACHMA
GREECE
DOLLAR
HONG KONG
RUPEE
INDIA
POUND
^IRELAND
LIRA
ITALY
YEN
JAPAN
RINGGIT
MALAYSIA
PESO
MEXICO
GUILDER
NETHERLANDS
DOLLAR
*NEW ZEALAND
KRONE
NORWAY
ESCUDO
PORTUGAL
DOLLAR
SINGAPORE
RAND
SOUTH AFRICA
WON
SOUTH KOREA
PESETA
SPAIN
RUPEE
SRI LANKA
KRONA
SWEDEN
FRANC
SWITZERLAND
DOLLAR
TAIWAN
BAHT
THAILAND
*UNITED KINGDOM POUND
MEMO:
**UNITED STATES

DOLLAR

May. 16

(CURRENCY UNITS PER DOLLAR)
May. 19
May. 18
May. 17

May. 20

0.7260
11.773
34.480
1.3756
8.6806
6.5485
1.1523
5.4705
5.7395
1.6739
247.96
7.7275
31.380
1.4660
1610.00
104.80
2.6125
3.3300
1.8795
0.5863
7.2540
172.66
1.5505
3.6630
809.20
138.790
49.250
7.7905
1.4262
26.810
25.230
1.5025

0.7275
11.714
34.300
1.3790
8.6807
6.5270
1.1586
5.4445
5.7090
1.6655
246.75
7.7270
31.373
1.4750
1595.50
104.37
2.6170
3.3310
1.8699
0.5855
7.2165
171.88
1.5503
3.6600
809.50
137.800
49.300
7.7440
1.4157
26.860
25.230
1.5065

0.7280
11.656
34.100
1.3778
8.6805
6.4895
1.1641
5.4250
5.6690
1.6570
246.50
7.7265
31.375
1.4800
1586.50
103.55
2.6088
3.3340
1.8596
0.5855
7.1740
171.00
1.5430
3.6705
809.50
136.980
49.400
7.6995
1.4075
26.860
25.220
1.5085

0.7288
11.639
34.070
1.3738
8.6804
6.4805
1.1644
5.4230
5.6705
1.6548
245.96
7.7255
31.420
1.4810
1585.00
104.25
2.5950
3.3160
1.8570
0.5855
7.1635
170.79
1.5355
3.6750
809.40
136.510
49.150
7.6935
1.4098
26.800
25.230
1.5080

0.7288
11.583
33.900
1.3768
8.6802
6.4445
1.1701
5.3960
5.6325
1.6470
249.12
7.7255
31.373
1.4870
1583.00
103.97
2.5900
3.3125
1.8484
0.5868
7.1300
170.45
1.5375
3.6780
809.60
136.120
49.120
7.6760
1.4057
26.880
25.190
1.5098

93.54

93.12

92.65

92.67

92.37

ftVALUE IS U.S. DOLLARS
**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.
THIS RELEASE IS AVAILABLE ONLINE THROUGH THE FACILITIES OF THE DEPARTMENT OF COMMERCE'S
ECONOMIC BULLETIN BOARD. FOR INFORMATION, CALL (202) 4 8 2 1 9 8 6 .
FOR INFORMATION ABOUT YOUR SUBSCRIPTION.TO THIS RELEASE OR ABOUT RECEIVING IT IN DOCUMENT
FORM, PLEASE CALL PUBLICATIONS SERVICES AT THE FEDERAL RESERVE BOARD AT (202) 452-3244.