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5 - 7 7 6 ) (616/617) L f t R A R H II fQERAL RESERVB BANK OF C H I C A G O ""ill- Selected Interest & Exchange Rates Weekly Series of Charts May 4,1987 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 $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. 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 - 50 45 ITALIAN LIRA = • — - — / k A W cz 40 35 30 25 I l l 1 1 1 20 200 JAPANESE YEN GERMAN MARK 180 /^J - 160 140 120 100 1 I I I 90 - tCj' - 40 ^V/V i i i Vv n i i — - — - I I III h i l l IIllllllllll 120 FRENCH FRANC J \^A I I I I I I 100 7^ — 70 - 1985 1987 70 - 60 - 50 - - - - - / — t\/ jsT I I I I 240 — — - I I | I I | I nliiliiiii I | I I 50 - 40 SWISS FRANC — 80 — ~ 90 90 — I — BELGIAN FRANC 60 - — — 60 80 1 llllll ill 1 . . . . U.K. POUND 70 50 1 DUTCH GUILDER CANADIAN DOLLAR 80 1 I I 1985 I Illllllllll 180 - 160 - 140 — 120 Illllllllll 1987 200 - 100 CHART 2 3-MONTH FORWARD EXCHANGE RATES PREMIUM (+) OR H AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER AN ENT PER ANNUM 4 JAPANESE YEN CANADIAN DOLLAR + 0 4 8 4 U. K. POUND SWISS FRANC + 0 4 8 8 GERMAN MARK DUTCH GUILDER FRENCH FRANC ITALIAN LIRA 4 + 0 4 4 + 0 4 8 12 1985 1987 1985 1987 CHART 3 PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY PER FINE OUNCE U.S. DOLLARS PER FINE 480 460 440 12.5 Kg BARS AFTERNOON FIXING PRICE 420 400 380 360 340 320 300 280 I I 1984 1985 1986 1987 I I 260 CHART 4 C A L L MONEY RATES WEEKLY SERIES PERCENT PER Al PER( [NT PER ANNUM 16 FRANCE 12 U. S. FEDERAL FUNDS - 8 4 ": JAPAN 0 n i l 1111111 I I I I I I I I I I I I I I 16 CANADA 12 8 GERMANY 4 0 16 UNITED KINGDOM SWITZERLAND 12 8 4 NETHERLANDS 0 1985 1987 1985 1987 CHART 5 3-MONTH INTEREST RATES WEEKLY SERIES ENT PER ANNUM PERCENT PER Ah 14 12 16 — CANADIAN FINANCE CO. PAPER U.S. CD'S 14 10 — 8 6 10 WEIGHTED AVERAGE FOREIGN RATE \ — 4 I I I ~ 14 — U.K. INTERBANK STERLING 8 6 I 16 FRENCH INTERBANK RATE 14 - 12 12 10 10 V- - 8 I I - 8 6 I 10 8 12 10 NETHERLANDS INTERBANK RATE - GERMAN INTERBANK RATE 6 8 6 4 - - 4 2 2 10 8 8 SWISS INTERBANK RATE JAPANESE GENSAKIRATE Z 6 ^ X . . 6 A . . 4 w 4 2 - 2 0 1985 1987 1985 1987 CHART 6 EURO-DOLLAR DEPOSIT RATES LONDON AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER AN :NT PER ANNUM 14 OVERNIGHT 3-MONTH 7-DAY 6-MONTH 12 10 8 6 4 14 12 10 8 6 4 14 1-YEAR -MONTH 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 16 14 12 FEDERAL FUNDS 90-DAY CD' S DASHED LINE DASHED LINE OVERNIGHT 3-MONTH EURO-DOLLAR DEPOSITS EURO-DOLLAR DEPOSITS 10 8 6 4 2 DIFFERENTIAL DIFFERENTIAL 1 + 0 1 1985 1 PERCENT ON DIFFERENTIAL SCALE = 2 PERCENT ON RATE SCALE 1987 1985 1987 • CHART 8 INTEREST ARBITRAGE: 3-MONTH FUNDS DIFFERENTIAL: P L U S H , INDICATES FAVOR DOLLAR ASSETS AVERAGES FOR WEEK ENDING WEDNESDAY ENT PER ANNUM PERCENT PER Ah 18 14 CANADIAN FINANCE CO. PAPER, COVERED INTERBANK STERLING COVERED LONDON 10 6 EURO-DOLLAR DEPOSITS DASHED LINE U. S. COMMERCIAL PAPER DASHED LINE 2 2 DIFFERENTIAL DIFFERENTIAL + 0 2 18 14 INTERBANK DM SWISS INTERBANK (SF) COVERED COVERED FRANKFURT 10 6 EURO-DOLLAR DEPOSITS EURO-DOLLAR DEPOSITS DASHED LINE DASHED LINE 2 2 DIFFERENTIAL DIFFERENTIAL + 0 2 III I I 1985 1987 PERCENT ON DIFFERENTIAL S C A L E = 2 PERCENT ON RATE S C A L E 1985 1987 CHART 9 LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES :NT PER ANNUM PERCENT PER AL 16 16 UNITED STATES CANADA 14 14 12 12 10 10 - 8 6 II LII H I L I 6 I 14 12 8 10 UNITED KINGDOM - - JAPAN 8 6 10 - 8 \x - 6 4 2 8 10 GERMANY 6 SWITZERLAND 8 "^22^ ™ 6 4 II I I I I 2 i i i 4 17 17 U. S. CORPORATE 15 MONTHLY FRANCE 15 Aaa BONDS 13 13 11 11 NETHERLANDS MONTHLY 9 9 7 7 5 5 1985 1987 1985 1987 CHART 10 INDUSTRIAL STOCK INDICES WEEKLY SERIES RATIO SCALE 1969=100 RATIO SCALE 1969=100 UNITED KINGDOM UNITED STATES 650 — 550 - 450 - 350 - — - 1 f JAPAN - - 450 - - v-v - - FRANCE 250 I 150 500 — 400 - 300 - j - - l 350 250 I 150 — 250 - - - - SWITZERLAND A . \^r - 200 - 150 iiliiliihi 100 CANADA lllllllllll 200 500 — 400 - I — I I lllllllllll — - - - - — - 500 — - 400 - 300 - 200 NETHERLANDS 300 200 100 - 1 1 1 1 1 1985 1 GERMANY I I I II I II I<<1<<1<<1,, I I 1987 /w\ M I M I M I . I 1985 100 1987 LAST VALUE PLOTTED DATE fALUE SERIES NAME CHABT 1. SPOT EXCHANGE BATES AND INDICES WEEKLY A V E R A G E , NOON BUYING BATES (0. S. CENTS) GERMAN MARK JAPANESE YEN DUTCH GUILDER U.K. POUND CANADIAN DOLLAB FRENCH FBANC SWISS FBANC BELGIAN FBANC ITALIAN LIRA SWEDISH KBONA APRIL APRIL APRIL APRIL APRIL APRIL APRIL APRIL APRIL APRIL 29 29 29 29 29 29 29 29 29 29 55.71 0.71488 49.37 165.51 74. 88 16.70 68.04 2.68441 0.07788 15.95 APBIL APRIL APRIL APBIL APRIL APRIL APRIL APRIL APRIL 29 29 29 29 29 29 29 29 29 156.71 187.18 141.74 66.94 74. 63 75. 25 218.89 105.78 44.24 29 29 29 29 29 29 29 29 29 29 29 96. 17 164.97 194.96 140.53 62.08 70.58 70.38 216.92 102.72 40.22 67.60 29 29 29 29 29 29 29 29 -1.53 -2.42 3.20 -1.17 3. 17 1.79 3. 12 -2.62 INDICES, MARCH 1973 BASE BATES = 100 GERMAN MASK JAPANESE YEN DUTCH GUILDER U.K. POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC BELGIAN FBANC ITALIAN LISA WEIGHTED AVERAGE EXCHANGE VALUE INDICES, MAS 197J = 100 (G-10 COUNTRIES PLOS SWITZERLAND) U.S. DOLLAR GERMAN MARK JAPANESE YEN DUTCH GUILDER U.K. POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC BELGIAN FRANC ITALIAN LIRA SWEDISH KRONA APRIL APRIL APRIL APRIL APRIL APRIL APBIL APRIL APRIL APRIL APRIL CHABT 2. 3-MONTH FORWARD EXCHANGE BATES, PREMIUM OB DISCOUNT CANADIAN DOLLAB U.K. POUND GERMAN HARK FRENCH FBANC SWISS FBANC DUTCH GUILDER JAPANESE YEN ITALIAN LIRA , APRIL APRIL APBIL APRIL APRIL APRIL APBIL APBIL S E M E S NAME LAST VALUE PLOTTED DATE VALUE CHART 3. GOLD PRICE IK LONDON, AFTERNOON FIXING U.S. DOLLARS PER FINE OUNCE APRIL 29 458.39 CHART 4. CALL HONEY RATES APRIL APRIL APRIL APRIL APRIL APRIL APRIL APRIL APRIL 29 29 29 29 29 29 29 29 29 6.50 6.30 9.88 7. 50 3.70 3. 50 7. 73 5.28 1.00 APRIL APRIL APRIL APRIL APRIL APRIL APRIL APRIL APRIL 29 29 29 29 29 29 29 29 29 6.71 3.87 3.90 8. 40 9. 58 3.90 7. 90 5.25 6.13 APRIL APRIL APRIL APRIL APRIL APRIL 29 29 29 29 29 29 6.30 6. 43 6. 65 6.94 7. 19 7. 58 OVERNIGHT EURO-DOLLAR DEPOSITS U.S. FEDERAL FUNDS DIFFERENTIAL APRIL 29 APRIL 29 APRIL 29 6.30 6. 50 -0. 20 3-MONTH EURO-DOLLAR DEPOSIT RATE U.S. 90-DAY CD'S, SECONDARY MARKET DIFFERENTIAL APRIL 29 APRIL 29 APRIL 29 6.94 6.71. 0. 23 U.S. FEDERAL FUNDS OVERNIGHT EURO-DOLLAR DEPOSITS U.K. CANADA GERMANY JAPAN FRANCE NETHERLANDS SWITZERLAND 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 BATE WEIGHTED AVERAGE FOREIGN INTEREST RATE (G—10 COUNTRIES PLUS SWITZERLAND) CHART 6. EURO-DOLLAR DEPOSIT RATES: LONDON OVERNIGHT 7-DAY 1-MONTH 3-MONTH 6-MONTH 1-YEAR CHART 7. SELECTED EURO-DOLLAR AND U.S. MONEY MARKET RATES SERIES NAME LAST VALUE PLOTTED DATE VALUE CHA£T 8- INTEREST ARBITRAGE, 3-MONTH FUNDS EURO-DOLLAR DEPOSIT INTERBANK STERLING (LONDON), COVERED DIFFERENTIAL APRIL 29 APRIL 29 APRIL 29 6. 94 7. 09 -0. 16 U.S. COMMERCIAL PAPER CANADIAN FINANCE PAPER, COVERED DIFFERENTIAL APRIL 29 APRIL 29 APRIL 29 6. 42 6. 84 - 0 . 42 EURO-DOLLAR DEPOSIT INTERBANK DM (FRANKFURT) , COVERED DIFFERENTIAL APRIL 29 APRIL 29 APRIL 29 6.94 7. 10 - O . 16 EURO-DOLLAR DEPOSIT SWISS INTERBANK, COVERED DIFFERENTIAL APRIL 29 APRIL 29 APRIL 29 6. 94 7. 01 -0. 07 24 24 17 10 17 24 8.30 5.38 3.58 4.11 9.52 9. 44 6. 15 8.74 CHART 9. LONG TERM GOVERMENT BOND YIELDS UNITED STATES GERMANY JAPAN (MONTHLY) SWITZERLAND CANADA FRANCE NETHERLANDS (MONTHLY) UNITED KINGDOM APRIL APRIL APRIL APRIL APRIL APRIL FEB. APRIL 24 U.S. CORPORATE AAA BONDS CHART 10. STOCK INDICES UNITED STATES UNITED KINGDOM CANADA GERMANY SWITZERLAND NETHERLANDS FRANCE JAPAN 6. 3b MARCH APRIL APRIL APRIL APRIL APRIL APRIL APRIL APRIL 22 22 22 22 22 22 22 22 323. 88 340.07 375.22 261. 11 199.02 321. 16 456.53 575.22 FEDERAL RESERVE statistical release H.10(512) MAY 1, 1987 FOREIGN EXCHANGE RATES FOR THE WEEK ENDING MAY 1, 1987 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 APR. 27 •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 *S0UTH AFRICA SOUTH KOREA SPAIN SRI LANKA 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 71.30 12.530 37.040 NA 1.3380 3.7314 6.7330 4.3510 5.9660 1.7830 131.700 7.7995 12.6300 149.98 1277.00 138.40 2.4665 2.0113 58.600 6.6390 138.500 2.1185 50.15 840.10 124.650 28.940 6.2390 1.4605 33.390 25.550 166.75 70.35 12.640 37.290 NA 1.3354 3.7314 6.7680 4.3720 5.9910 1.7963 133.000 7.8030 12.6900 148.63 1285.25 139.90 2.4705 2.0270 58.020 6.6780 139.600 2.1270 50.00 838.90 125.790 28.960 6.2730 1.4680 33.220 25.600 165.45 70.63 12.610 37.210 NA 1.3363 3.7314 6.7650 4.3790 5.9810 1.7925 132.900 7.8030 12.7200 149.04 1283.50 140.20 2.4810 2.0235 58.150 6.7350 139.200 2.1285 49.95 839.00 126.000 28.960 6.2795 1.4745 33.150 25.630 165.97 70.20 12.630 37.350 NA 1.3371 3.7314 6.7720 4.3900 6.0020 1.7985 132.500 7.8040 12.6500 148.55 1287.00 140.67 2.4765 2.0290 57.800 6.7225 139.500 2.1230 49.90 837.90 126.600 28.960 6.2840 1.4770 33.070 25.590 166.05 70.18 12.560 37.030 NA 1.3380 3.7314 6.7150 4.3600 5.9475 1.7820 132.500 7.8080 12.6300 149.60 1277.50 140.35 2.4775 2.0110 57.520 6.6850 138.450 2.1245 49.80 838.00 125.300 28.960 6.2350 1.4610 33.000 25.590 166.85 MEMO: •UNITED STATES DOLLAR 95.60 96.22 96.13 96.36 95.73 COUNTRY 1 CURRENCY UNITS PER DOLLAR) APR. 28 APR. 29 APR. 30 MAY 1 COUNTRIES. MARCH 1973 = 100. HEIGHTS 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
@FedFRASER