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(516/517) Selected Interest & Exchange Rates Weekly Series of Charts M a y 30, 1989 DIVISION OF INTERNATIONAL FINANCE Prepared by the FINANCIAL MARKETS SECTION BOARD OF GOVERNORS FEDERAL RESERVE SYSTEM Washington, DuC. 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 $24.00 per year or $.60 e a c h in the United States, its p o s s e s s i o n s , Canada, and Mexico; 10 or more of the s a m e i s s u e to o n e address, $22.50 per year or $.55 each. Elsewhere, $30.00 per year or $.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 O F FOREIGN CURRENCIES AND WEIGHTED AVERAGE VALUES (THIN LINE) AVERAGES FOR WEEK ENDING WEDNESDAY RATIO S< MARCH 19751=100 SCALE 11973=100 140 120 140 FOREIGN CURRENCY PRICE OF U.S. DOLLAR BELGIAN FRANC 120 100 100 90 90 80 80 I 70 I I I I I 70 280 280 240 - SWISS FRANC JAPANESE YEN 240 200 200 180 180 160 160 140 - 120 1 1 1 1 1 120 1 100 100 CANADIAN DOLLAR 90 80 140 90 U.K. POUND 80 70 70 60 60 111111llll111 50 200 180 50 200 - DUTCH GUILDER GERMAN MARK 180 160 x - 160 140 140 120 120 100 1 1 1 1 1 I IIIIIIMIII U INHILII 120 60 ITALIAN LIRA 100 90 100 50 FRENCH FRANC 45 80 40 70 35 60 30 50 25 1987 1989 1987 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 ^ I I I I I / / A , /X/ -VVVT 1 1 1 I I I I I I I I I IILIILIILII I I I I I a - / MIIIINIII I I DUTCH GUILDER S W I S S FRANC V™ I JAPANESE YEN GERMAN MARK I I MIMII.IM FRENCH FRANC I I I ITALIAN LIRA - 4 - 8 12 1987 1989 1987 1989 CHART 3 PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY U.S. U.S. DOLLARS PER FINE Ol LLARS PER FINE OUNCE 520 520 500 500 1 2 . 5 Kg B A R S 480 480 AFTERNOON FIXING PRICE 460 460 440 440 420 420 400 400 380 380 360 360 340 340 320 320 I I I I I I I I I 300 1986 1987 1988 I I I I I I 1989 I I 300 CHART4 CALL MONEY RATES WEEKLY SERIES PERCENT PER ANH ENTPER ANNUM 16 16 12 U.S. FEDERAL FUNDS 12 FRANCE 8 8 JAPAN 4 4 I 0 I I 0 16 16 CANADA 12 12 8 GERMANY 8 4 4 0 M i l l lull 0 20 16 UNITED KINGDOM SWITZERLAND 16 12 12 8 8 4 4 NETHERLANDS Hull 0 1987 1989 LU 1987 0 1989 CHARTS 3-MONTH INTEREST RATES WEEKLY SERIES PERCENT PER AW ENTPER ANNUM 12 12 FRENCH INTERBANK RATE 10 10 U.S. CD'S 8 8 6 6 WEIGHTED AVERAGE FOREIGN RATE 4 2 I I I I I 4 I 2 16 16 14 U.K. INTERBANK STERLING - 14 — 12 CANADIAN FINANCE CO. PAPER j 12 10 10 8 - I 6 I I I I I 6 8 6 8 8 GERMAN INTERBANK RATE SWISS INTERBANK RATE jJ - 4 6 4 2 - 0 I I I I I 2 0 I 10 10 NETHERLANDS INTERBANK RATE 8 - 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 tENT PER ANNUM PERCENT PER AW 14 12 14 OVERNIGHT 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 Iiiliilii I I I I II I I I I I 4 4 14 12 14 1-MONTH 1 YEAR 12 10 10 8 8 6 6 4 4 1987 1989 1987 1989 CHART7 SELECTED EURO-DOLLAR AND U.S. MONEY MARKET RATES DIFFERENTIAL: PLUS(+),FAVORS BORROWING IN U.S. AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PERANI JENT PER ANNUM 14 14 12 12 10 10 3-MONTH FEDERAL FUNDS EURO-DOLLAR DEPOSITS DASHED LINE 8 8 6 6 OVERNIGHT 90-DAY CD'S EURO-DOLLAR DEPOSITS DASHED LINE 4 4 ii 1111111 ii 1 1 1 1 1 1 1 1 1 1 1 2 M i l 11111111111 2 2 2 DIFFERENTIAL DIFFERENTIAL 1 1 + + 0 0 11111111111111111111111 1 1987 PERCENT ON DIFFERENTIAL SCALE = 2 PERCENT ON RATE SCALE 1989 1 _ L I I 1987 I 111111111111111111111111 1989 1 CHART8 INTEREST ARBITRAGE: 3-MONTH FUNDS DIFFERENTIAL: PLUS(+), INDICATES FAVOR DOLLAR A S S E T S AVERAGES FOR WEEK ENDING WEDNESDAY iENTPER ANNUM PERCENT PER ANI* 16 16 12 INTERBANK STERLING 12 CANADIAN FINANCE CO. PAPER, COVERED COVERED LONDON 8 8 4 EURO-DOLLAR DEPOSITS U.S. COMMERCIAL PAPER DASHED LINE DASHED LINE 0 111 n i l i h i l l i h i III I u 4 1111111111111111111111 1__L 2 2 DIFFERENTIAL DIFFERENTIAL + + 0 0 nliiiiiiii 2 I I I 11lllllll11 1111111111 2 16 16 12 12 INTERBANK DM SWISS INTERBANK (SF) COVERED COVERED FRANKFURT 8 8 4 0 0 I EURO-DOLLAR DEPOSITS EURO-DOLLAR DEPOSITS DASHED LINE DASHED LINE 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 II I II I I I I 4 I I I I M ! I I I I I I I I I II I I f I ! l 0 2 2 DIFFERENTIAL DIFFERENTIAL + + 0 0 I I I I I I 111 I I 1 1 11 11 11 11 I I 2 1987 1989 I PERCENT ON DIFFERENTIAL SCALE = 2 PERCENT ON RATE SCALE I I I I I 1987 I I ' I ' l l I I I I I I III I I I I I III 2 1989 CHART9 LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES PERCENT PER ANf ;ENT PER ANNUM 14 14 12 - UNITED STATES CANADA 12 \ 10 , Zvs j\Z\r~ vx 10 8 8 6 I I I I I I 1 1 1 1 1 6 1 14 14 12 v UNITED KINGDOM - 10 8 6 FRANCE 1 1 12 10 A < f r 1 ' 8 1 1 1 6 10 8 10 SWITZERLAND __ JAPAN - 8 6 6 4 4 2 I I I I I I 1 1 1 1 1 1 Ill II l u l u 10 2 10 NETHERLANDS 8 GERMANY MONTHLY 8 6 6 4 4 2 I I 1987 I I 1989 I I I I 1987 I 2 1989 CHART 10 INDUSTRIAL STOCK INDICES WEEKLY S E R I E S SCALE 00 RATIO SCALE 1969=100 600 500 400 UNITED STATES NETHERLANDS JAPAN GERMANY 300 200 150 800 600 - 500 400 300 200 300 SWITZERLAND 250 FRANCE 200 150 100 600 500 CANADA 400 ' V yV/w-r tv/vVx-A^ 300 200 UNITED KINGDOM I I I I I 1987 I 1989 1987 1989 300 SERIES CHART 1. SPOT WEEKLY L A S T VALUE P L O T T E D DATE VALUE SAME EXCHANGE R A T E S AND I N D I C E S AVERAGES, NOON BUYING R A T E S (U.S. CENTS) GERMAN MARK J A P A N E S E YEN DUTCH G U I L D E R U . K . POUND CANADIAN DOLLAR FRENCH FRANC . S S 1 S S FRANC B E L G I A N FRANC ITALIAN LIRA S W E D I S H KRONA INDICES, HABCii 1973 BASE RATES = WEIGHTED AVERAGE EXCHANGE VALUE I N D I C E S , ( G - 1 0 COUNTRIES P L U S SWITZERLAND) U. S . DOLLAR GERMAN MARK J A P A N E S E YEN DUTCH G U I L D E R U . K . POUND CANADIAN DOLLAR FRENCH FRANC S W I S S FRANC B E L G I A N FRANC ITALIAN LIRA S W E D I S H KRONA 3 - M O N T H FORWARD EXCHANGE B A T E S , CANADIAN DOLLAR U . K . POUND GERMAN MARK F R E N C H FfiANC S W I S S FRANC DUTCH G U I L D E R J A P A N E S E YEN ITALIAN LIRA 24 24 24 24 24 24 24 24 24 24 50. 0. 44. 159. 63. 14. 56. 2. 0. 14. MAY MAY MAY MAY MAY MAY MAY MAY MAY 24 24 24 24 24 24 24 24 24 141. 15 1 8 5 . 91 1 2 7 . 82 64. 35 83. 36 66, 76 1 8 1 . 14 9 4 . 48 3 9 .,26 24 24 24 24 24 24 24 24 24 24 24 103. 155. 205. 133. 63. 84. 65. 188. 96. 37. 65. 100 GERMAN MASK J A P A N E S E YEN DUTCH G U I L D E R O . K . POUND CANADIAN DOLLAR FRENCH FRANC S W I S S FRANC B E L G I A N FRANC ITALIAN LIRA CHART 2 . 17 71004 52 09 64 82 30 39779 06911 55 MAY MAY MAY MAY MAY MAY MAY MAY MAY MAY HAS 1973 = 100 MAY MAY MAY MAY MAY MAY MAY MAY MAY MAY MAY 15 49 80 46 14 38 52 95 65 52 08 PREMIUM OR D I S C O U N T MAY MAY MAY MAY MAY MAY MAY MAY 24 24 24 24 24 24 24 24 — 2 .5 9 - 3 . 40 2. 45 0. 68 1. 8 8 2. 09 49 - 2 . 4b #. L A S T VALUE PLOTTED DATE VALUE S E R I E S - NAME- CHART 3 . GOLD U.S. 4. PRICE IN DOLLARS PER CALL LONDON, FINE AFTERNOON FIXING OUNCE MAY 2 4 MONEY R A T E S U . S . FEDERAL FUNDS OVERNIGHT EURO-DOLLAR D E P O S I T S U. K. CANADA GERMANY JAPAN FRANCE NETHERLANDS SWITZERLAND CHART 5. 3-MONTH I N T E R E S T o. EURO-DOLLAR D E P u S I T RATES: SELECTED EURO-DOLLAR OVERNIGHT EURO-DOLLAR U . S . F E D E R A L FUNDS DIFFERENTIAL AND U . S . 9. 9. 1 1. 12. 6. 4. 8. b. 6. 74 60 77 69 32 22 59 2b 77 MAY MAY MAY MAY MAY MAY MAY MAY MAY 24 24 24 24 24 24 24 24 24 9. 7. 4. 12. 13. 7. 8. 7. 8. 41 14 25 31 03 42 8b 34 39 MAY MAY MAY MAY MAY MAY 24 Z4 24 9. 9. 9. 9. 9. 9. 60 cO 56 46 41 45 2h 24 24 MONEY MAK&6T R A T E S DEPOSITS 3-MONTH EURO-DOLLAR D E P O S I T U . S . 9 0 - D A Y C D ' S , SECONDARY DIFFERENTIAL 24 24 24 24 24 24 24 24 24 LONDON OVERNIGHT 7-DAY 1-AONTH 3 - MONTH 6-MONTH 1-YEAR CHART 7 . MAY MAY MAY MAY MAY MAY MAY MAY MAY MATES U . S . 9 0 - D A Y C D ' S , SECONDARY MARKET GERMAN I N T E R B A N K LOAN J A P A N E S E GEtiSAKl RATE CANADIAN F I N A N C E P A P a n INTERBANK S T E R L I N G S W I S S I N T E R B A N K LOAN FRENCH I N T E R B A N K RATE N E T H E R L A N D S I N T E R B A N K RATE WEIGHTED AVERAGE F O R E I G N I N T E R E S T RATE ( G - 1 0 COUNTRIES PLUS SHITk.EBLAND) CHART 364. 25 BATE MARKET MAY 2 4 MAY 2 4 MAY 2 4 9. 60 9 . 74 - 0 . 14 MAY 2 4 MAY 2 4 MAY 2 4 9 . 46 9 . 41 0. 2 3 SERIES CHART 8 . INTEREST L A S T VALUE P L O T T E D DATE VALUE NAME ARBITRAGE, 3 - M O N T H FUNDS EURO-DOLLAR D E P O S I T INTERBANK S T E R L I N G (LONDON), DIFFERENTIAL U . S . COMMERCIAL P A P E R CANADIAN F I N A N C E P A P E R , DIFFERENTIAL COVERED COVERED EURO-DOLLAR D E P O S I T I N T E R B A N K DM ( F R A N K F U R T ) , DIFFERENTIAL COVERED EURO-DOLLAR D E P O S I T S W I S S I N T E R B A N K , COVERED DIFFERENTIAL CHART 9 . 10. MAY 2 4 MAY 2 4 MAY 2 4 9.30 9 . o4 -0.34 MAY 2 4 MAY 2 4 MAY 2 4 9.46 9.64 -0.18 MAY 2 4 MAY 2 4 MAY 2 4 9.46 9.34 0 . 13 MAY 1 2 MAY 1 9 MAY 1 2 MAY 1 9 MAY 1 2 MAY 1 2 MARCH MAY 1 9 9.05 7 . 12 4.86 5.35 10.20 9.18 6.93 9.02 MAY 9.3d CORPORATE AAA BONDS CHART 9.46 9.51 -0.05 LONG TERM GOVERNEDT dOND Y I E L D S UNITED STATES GERMANY JAPAN SWITZERLAND CANADA FRANCE NETHERLANDS (MONTHLY) U N I T E D KINGDOM U.S. HAY 2 4 NAY 2 4 MAY 2 4 STOCK I N D I C E S UNITED STATES U N I T E D KINGDOM CANADA GERMANY SWITZERLAND NETHERLANDS FRANCE JAPAN MAY MAY MAY HAY MAY MAY HAY MAY 24 24 24 24 24 24 24 24 338.21 390.02 363.24 246.66 223.69 332.10 469.41 665.48 Of CQVy FEDERAL RESERVE statistical release H.10(512) MAY 26, 1989 FOREIGN EXCHANGE RATES FOR THE WEEK ENDING MAY 26, 1989 The Board of Governors of the Federaf Reserve System is advised that the Federal Reserve Bank of New York has certified for customs p u r p o s e s the following noon buying rates in New York City for cable t r a n s f e r s payable in foreign currencies: COUNTRY MONETARY UNIT •AUSTRALIA AUSTRIA BELGIUM CANADA CHINA,P.R. DENMARK FINLAND FRANCE GERMANY GREECE HONG KONG INDIA •IRELAND 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: 1UNITED STATES DOLLAR MAY 22 (CURRENCY UNITS PER DOLLAR) MAY 24 MAY 23 MAY 25 MAY 26 74.35 14.144 42.060 1.1958 3.7314 7.8350 4.4750 6.8030 2.0090 170.200 7.7800 16.2800 133.10 1457.00 142.05 2.7035 2.2639 59.300 7.2250 165.800 1.9680 2.7780 669.40 125.400 34.158 6.7620 1.7923 25.900 25.840 158.06 74.75 14.130 42.040 1.1980 3.7314 7.8310 4.4785 6.7980 2.0084 170.500 7.7760 16.2400 133.30 1456.00 142.00 2.6890 2.2635 59.480 7.2325 165.750 1.9545 2.7690 669.50 125.350 34.148 6.7510 1.7883 25.985 25.930 156.78 74.70 14.145 42.140 1.2005 3.7314 7.8460 4.4890 6.8160 2.0120 170.700 7.7850 16.3100 132.75 1457.00 142.80 2.6970 2.2675 59.300 7.2410 166.250 1.9560 2.7930 669.50 125.700 34.137 6.7595 1.7860 25.925 25.950 156.95 75.65 14.038 41.750 1.2080 3.7314 7.7760 4.4500 6.7560 1.9945 170.240 7.7820 16.2600 134.00 1443.25 142.00 2.6960 2.2485 59.350 7.1935 164.530 1.9560 2.7770 669.50 124.500 34.117 6.7120 1.7562 25.920 25.930 158.03 75.20 13.990 41.640 1.2055 3.7314 7.7570 4.4390 6.7400 1.9895 167.950 7.7810 16.1800 134.80 1440.00 141.43 2.6910 2.2415 59.300 7.1770 163.550 1.9535 2.7425 669.40 125.380 34.117 6.6970 1.7370 25.932 25.850 158.80 103.78 103.85 104.05 103.32 102.99 SINDEX 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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