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 7,1990 DIVISION O F Prepared by the FINANCIAL MARKETS SECTION BOARD OF GOVERNORS FEDERAL RESERVE SYSTEM Washington, DC. 20551 7 ' INTERNATIONAL FINANCE Table of Contents TABLES 1. LATEST FIGURES PLOTTED 2. DAILY CERTIFIED SPOT EXCHANGE RATES — H.10 RELEASE CHARTS 1 SPOT EXCHANG E RATE INDICES 2 3-MONTH FORWARD EXCHANG E RATES 3. GOLD P R I C E — L O N D O N 4 C A L L MONEY RATES 5. 3-MONTH INTEREST RATES 6 EURO-DOLLAR DEPOSIT RATES 7. SELECTED EURO DOLLAR A N D U.S. MONEY MARKET RATES 8. INTEREST ARBITRAGE: 3 - M O N T H FUNDS 9. LONG-TERM G O V E R N M E N T B O N D YIELDS 10 INDUSTRIAL STOCK INDICES SUBSCRIPTION RATES: Weekly $24.00 per year or $.60 each in the United States, its possessions, Canada, and Mexico. 10 or more of the same issue to one address. $22.50 per year or $.55 each. Elsewhere. $30.00 per year or S 70 each. Address requests to P u b l i c a t i o n s Services. Division of A d m i n i s t r a t i v e Services, and make paym e n t r e m i t t a n c e payable to the order of the Board of Governors of the Federal Reserve System m a f o r m c o l l e c t i b l e at par m w 5 Currency. CHART 1 SPOT EXCHANGE INDICES DOLLAR PRICES O F FOREIGN CURRENCIES AND WEIGHTED AVERAGE VALUES (THIN LINE) AVERAGES FOR WEEK ENDING W E D N E S D A Y RATIO SCALE MARCH 1973=100 140 FOREIGN CURRENCY PRICE O F U.S. DOLLAR RATIO SCALE MARCH 1973=100 140 130 BELGIAN FRANC 120 110 100 90 80 i ' — i I i i i I ' i i I i i i SWISS FRANC i i — i I i i i I ' I ' I i i i JAPANESE YEN 70 280 260 240 220 200 180 160 140 i i i l i i i i i i i I i ' ' i ' i I i i • I i • i l i ' ' CANADIAN DOLLAR U.K. POUND 120 100 90 80 70 60 i i i l ' ' i l ' i i I ' i ' I I I I I I I I I I I I I I I 50 200 GERMAN MARK 180 DUTCH GUILDER 160 — I '140 120 i i i I i i ' l i i i I i i i • i i I i i i I i i i I ' i i 100 60 55 ITALIAN LIRA 50 FRENCH FRANC 45 40 35 30 I I I I I 1988 I I I I I I I I 1990 I • i i I i ' 1988 i I i ' ' i i 1990 25 CHART 2 3-MONTH FORWARD EXCHANGE RATES PREMIUM (+) OR (-) AVERAGES FOR WEEK ENDING W E D N E S D A Y PERCENT PER ANNUM 4 PERCENT PER ANNUM 4 CANADIAN DOLLAR 1 1 1 I 1 U.K. POUND 1 1 I 1 1 1 1 1 1 1 GERMAN MARK JAPANESE Y E N jh — v v -• 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 I SWISS FRANC 1 1 1 1 1 1 1 A / 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 FRENCH FRANC w- W\/Y-\/ 12 i i i 1 1 1 I \ 1 1 1 1 1 1 1 1 1 1 1 1 1 ' V 1 V y / i 1 ITALIAN LIRA W v A V X / 1 DUTCH GUILDER — 1 1 i 1988 i 1 i i 1 1 - 1 1 1990 1 i i i 1 i i 1988 i 1 i i i I i i 1990 i 12 CHART 3 PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY U.S. DOLLARS PER FINE OUI U.S. D LLARS PER FINE OUNCE 520 500 12.5 Kg BARS AFTERNOON FIXING PRICE 480 460 440 420 400 380 1987 1988 1989 1990 CHART 4 CALL MONEY RATES WEEKLY SERIES PERCENT PER ANNUM 16 12 PERCENT PER ANNUM 16 12 FRANCE U.S. FEDERAL FUNDS JAPAN 0 16 i i i I i i i I ' i i l i i • ' i I ' i ' I ' i i I i i i 12 0 16 12 CANADA GERMANY i i I i i i l ' • i I i i i I i i i I i i i I i i i 20 UNITED KINGDOM SWITZERLAND 16 12 NETHERLANDS 1988 1990 i i 1988 i I i i ' l i ' 1990 ' CHARTS 3-MONTH INTEREST RATES WEEKLY SERIES PERCENT PER ANNUM PERCENT PER ANNUM 12 12 FRENCH INTERBANK RATE 10 U.S. CD S WEIGHTED AVERAGE FOREIGN RATE 2 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 i i i i i I i i i l l I l l I I I l 16 14 — U.K. INTERBANK STERLING CANADIAN FINANCE CO. PAPER 12 10 6 i i I i ' ' I i i i I i ' i < i i I i i i I i 10 SWISS INTERBANK RATE GERMAN INTERBANK RATE 2 i I i i i I i i i I i l I l I l l l I l 10 NETHERLANDS INTERBANK RATE JAPANESE GENSAKI RATE < I ' i 1988 ' I ' ' ' I i i 1990 i l l l I l I l 1988 I l l l l 1990 CHART 6 EURO-DOLLAR DEPOSIT RATES LONDON AVERAGES FOR WEEK ENDING WEDNESDAY 3ENT PER ANNUM PERCENT PER AN 14 OVERNIGHT 12 3-MONTH 10 8 6 4 14 i i i l i i i l i i i I i i i I I I I 7-DAY 12 I I I I I I I I I I I I i i < I i i i l ' i ' ' ' i 6-MONTH 10 8 6 4 14 ' I I I ' I I I I I I I ' I ' • ' i I 1-MONTH 12 i i i 1-YEAR 10 8 6 4 i i i I i i 1988 i l i i i I i i 1990 i i i i l i i 1988 ' l 1990 # # # # # e 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 14 PERCENT PER ANNUM 14 12 12 10 10 OVERNIGHT EURO DOLLAR DEPOSITS 3-MONTH EURO-DOLLAR DEPOSITS FEDERAL FUNDS DASHED LINE J I I 90-DAY CD'S DASHED LINE I I I L _ L I I DIFFERENTIAL J l l I l l l I i i i I i i i I DIFFERENTIAL 1 1 1 1 I 1 1 1988 1 I 1 1 1 I I 1 1990 I J 1988 i i 1990 i 11 CHARTS INTEREST ARBITRAGE: 3-MONTH FUNDS DIFFERENTIAL: PLUS(+), INDICATES FAVOR DOLLAR ASSETS AVERAGES FOR WEEK ENDING W E D N E S D A Y PERCENT PER ANNL CENT PER ANNUM 16 16 12 12 CANADIAN FINANCE CO. PAPER, COVERED INTERBANK STERLING COVERED LONDON 8 8 U.S. COMMERCIAL PAPER DASHED LINE EURO-DOLLAR DEPOSITS DASHED LINE 4 ' 0 i • I i i i I i i i I i i i I I I I I I 4 I I I I I 0 2 2 DIFFERENTIAL DIFFERENTIAL i + 0 I 2 + 0 ' 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 i 12 INTERBANK DM COVERED FRANKFURT 12 SWISS INTERBANK (SF) COVERED 8 8 4 0 EURO-DOLLAR DEPOSITS DASHED LINE EURO-DOLLAR DEPOSITS DASHED LINE — ' i i I i i i I i i i I i i i ' I I I I ' I I ' I 4 ' I I ' 0 2 2 DIFFERENTIAL DIFFERENTIAL + 0 2 2 16 16 + 0 AS/A.^. i i • I i i 1988 i I i i i I i i 1990 i I I I I I ' 1988 I I I ' I I I I 1990 I 2 CHART 9 LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES =tCENT PER ANNUM PERCENT PER ANN! 14 14 UNITED STATES CANADA 12 12 10 10 8 8 i 6 14 i I i i i I i i i I i i i • i ' I i ' ' I ' • i I ' ' i 6 14 UNITED KINGDOM FRANCE 12 12 10 10 8 8 I 6 I I I I I I I I I I I I I i i i I i ' i l i i ' l i i 10 JAPAN 8 8 6 6 4 4 ' i i I ' ' i I » i i I i i i i i I i i ' l i ' i l i i 10 2 10 NETHERLANDS MONTHLY GERMANY 8 8 6 6 4 2 6 10 SWITZERLAND 2 i 4 • • ' I ' i 1988 ' I ' ' ' I i i 1990 i ' ' ' I ' I 1988 ' I ' • I I I I 1990 2 CHART 10 STOCK INDICES WEEKLY SERIES RATIO SCALE 1986=100 RATIO SCALE 1986=100 200 200 175 „ — NETHERLANDS UNITED STATES 175 150 150 125 125 100 100 75 75 50 400 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 I I I __ GERMANY 350 — JAPAN 175 150 300 125 250 100 200 75 150 100 I I I I I I I I I I I I i I 200 i I i i i I i i FRANCE 175 — SWITZERLAND 150 125 100 75 50 I I I I I I I I I I I I I I I 200 UNITED KINGDOM 175 — CANADA 150 125 100 75 50 50 200 I I I I ' I 1988 ' I ' ' I I I • 1990 I 1988 1990 ' SERIES 4-Api Chart 1. 90 11-Api—90 18~Apr-90 25-Api—90 2~May-90 Spot Exchange Rates and Indices Noon buying rates (U.S. cents, weekly averages) Belgian franc Canadian dollar French franc Get nan mark Italian lira Japanese yen Netherlands guilder Swiss franc U.K. pound 2.8466 85.503 17.511 58.881 0.08002 0.63197 52.274 66.559 163.81 2.8595 85.874 17.600 59.142 0.08048 0.63316 52.520 66.857 163.91 2.8852 85.827 17.768 59.709 0.08122 0.62869 53.020 67.272 163.67 2.8664 86.121 17.644 59.233 0.08074 0.63333 52.639 67.369 163.71 2.8830 85.895 17.740 59.519 0.08122 0.63000 52.907 68.682 163.84 112 .17 85 .22 78..91 165..64 45..93 165,.47 150..07 214, 13 66 .26 112 .68 85 .59 79 .31 166 , .37 46 .20 165..78 150..77 215..09 66 .29 113 .69 85 .54 80 .07 167 . .97 46 . .62 164,.61 152. 21 216 .42 66 .20 112 .95 85 .84 79 .51 166 . .63 46 . .35 165. 83 151 .12 216 .74 66 .22 113 .60 85 .61 79 .94 167 .43 46 , .62 164..96 151 . ,88 220. 96 66 .27 108 .03 79 .62 73 .38 174 .05 40 .97 164 .25 147 .72 67 .81 209 .05 59 .67 93 .21 107 .54 80 .11 72 .99 172 .85 40 .81 166 .02 146 .93 67 .78 209 .84 59 .83 93 .48 107 .94 79 .68 73 .25 173 .37 40 .97 164 .61 147 .36 67 .82 213 .54 59 .73 93 .20 -4..85 -1..54 0.,19 -3,,43 1 .08 -0, 09 -0. 78 -6 ,36 -4 .84 -1 .48 , 0 .25 -3 .54 1 .00 . -0..07 -0..79 -6 .41 -4 .79 -1 .20 0 .27 -3 .30 1 .23 -0 .02 -0 .95 -6 .26 . 371 .53 376. 50 374. 75 375,.05 370..01 8. 33 8. 28 12. 74 10. 04 7. 57 6 .88 8 .06 8. 38 14. 63 8. 25 8. 20 12. 70 9. 98 7. 85 6. 99 8. 34 8. 38 14. 60 8. 27 8. 23 12. 65 9. 92 7 .82 6 .92 8. 28 8. 38 14. 81 8. 24 8 .20 12. 75 9. 60 7 .69 7 .07 7. 68 8. 78 14. 89 8. 12 8. 06 12. 90 9. 72 7 .59 7 .14 8. 33 8. 50 14. 85 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. 1973=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. 3-Month Forward Exchange Rate Canadian dollar French franc German mark Italian lira Japanese yen Netherlands guilder Swiss franc U.K. pound 107 .25 79 .86 72 .73 172 .52 40 .61 166 .43 146 .53 67 .82 208 .18 60 .16 94 .00 107 .43 79 .98 72 .90 172 .82 40 .73 166 .23 146 .80 67 .80 208 .50 60 .00 93 .64 'remium or Discount -4 .87 -1 .65 0 .31 -3..54 1. .14 0..01 -o,.59 -6 .33 -4 .75 -1 . 01 0 .30 -2 .79 1 .37 0 . 02 -0..64 -6 .39 . ixing U.S. dollars per fine ounce Chart 4. Call Money Rates U.S. federal funds Overnight Euro-dollar deposits Canada France Germany Japan Netherlands Switzerland United Kingdom e SERIES 4-Api— 190 Chart 5. 3-Month Interest Rates U.S. 90-day CD's, s e c o n d a r y market Canadian finance paper French interbank rate German interbank rate Japanese gensaki rate Netherlands interbank rate Swiss interbank rate U.K. interbank sterling Weighted average foreign interest rate (G-10 C o u n t r i e s ) Chart 6. 8 .37 13 .46 10 .23 8 .21 6 .50 8 .39 8 .88 15 .16 9 .97 8 .36 13 .56 10 .05 8 .20 6 .60 8 .45 8 .90 15 .12 9 .96 8 .28 8 .28 8 .29 8 .40 8 . 68 8 .85 8 8 8 8 8 8 .20 .25 .30 .38 .54 .78 8 .28 8 .33 -0 .05 8 .20 8 .25 -0 .05 8 .40 8 .37 0 .03 8 .38 8 .36 0 .02 Euro-dollar deposit Interbank sterling (London), covered Differential 8 .40 8 .59 -0 .19 8 .38 8 .51 -0 .14 U.S. commercial paper Canadian finance paper, covered Differential 8 .30 8 .43 -o .13 Euro-dollar deposit Interbank DM (Frankfurt), covered Differential 3-month Euro-dollar deposit U.S. 90-day CD's, s e c o n d a r y market Differential 8 8 8 8 8 8 .23 .25 .29 .38 .46 .71 8 8 8 8 8 9 .20 .25 .34 .49 .68 .01 8 .06 8 .24 8 .40 8 .59 8 .81 9 .19 8 .23 8 .27 -0 .05 8 .38 8 .34 0 . 04 8 .20 8 .24 -0 .04 8 . 06 8 .12 -0 .05 8 .59 8 .58 0 .00 8 .38 8 .52 -0 .14 8 .49 8 .66 -0 .17 8 .59 8 .66 -0 .07 8 .26 8 .55 -o .29 8 .24 8 .54 -0 .30 8 .32 8 .72 -0 .40 8 .43 8 .76 -0 .33 8 .40 8 .52 -0 .12 8 .38 8 .39 -0 .01 8 .38 8 .42 -0 .05 8 .49 8 .50 -0 .01 8 .59 8 .59 -0 .01 8 .40 8 .27 0 .13 8 .38 8 .10 0 .27 8 .38 8 .07 0 .31 8 .49 8 .23 0 .26 8 .59 8 .50 0 .09 11 .14 10 .39 8 .72 7 .34 6 .58 11 .16 8 .62 11 .41 10 .12 8 .84 7 .26 6 .55 11 .06 8 .59 11 10 8 7 6 11 8 .76 .14 .88 .30 .61 .33 .74 10 8 7 6 11 8 ND .14 .95 .25 .61 .47 .96 ND 10 .16 9 .01 ND 6 .69 11 .69 9 .07 .83 .12 .63 .24 .99 .81 .48 .89 115 152 120 163 107 132 134 137 .85 .54 .12 .93 .67 .16 .42 .42 111 152 116 166 105 131 130 134 .41 .33 .63 .39 .56 .46 .61 .01 111 .32 150 .65 116 .17 169 .97 104 .31 130 .41 130 .19 134 .78 Interest A r b i t r a g e , 3-Month Funds Long Term G o v e r n m e n t Bond Yields Canada France Germany Japan Switzerland United Kingdom United States Chart 10. 8 .58 13 .67 9 .63 8 .29 6 .70 8 .59 9 .16 15 .30 9 .94 8 .49 8 .48 0 .01 Euro-dollar deposit Swiss interbank, covered Differential Chart 9. 8 .48 13 .68 9 .81 8 .22 6 .66 8 .50 9 .20 15 .16 9 .94 Selected E u r o - d o l l a r & U.S. Money Market Rates Overnight Euro-dollar d e p o s i t s U.S. federal funds Differential Chart 8. 8 .34 13 .55 9 .96 8 .17 6 .62 8 .44 8 .88 15 .17 9 .93 Euro-Dollar Deposit Rates Overnight 7-day 1-month 3-month 6-month 1-year Chart 7. 11 -Apr -90 18-Apr -90 25-Apr -90 2-May- (90 Stock Indices (Wednesday figures ) Canada France Germany Japan Netherlands Switzerland United Kingdom United States 121 146 124 156 107 130 135 137 .13 .26 .01 .98 .18 .83 .75 .70 118 150 119 165 105 131 134 137 Indices (in order, rebased to 1986=100) are Toronto Composite, CAC General, FAZ Aktien, Tokyo SE (Topix), CBS All-General, Swiss Bank Index, Financial Times Ordinary, NYSE Composit • oO[Gpv/ z FEDERAL RESERVE statistical release r«rssf. H.10(512) May 7, 1990 FOREIGN EXCHANGE RATES FOR THE WEEK ENDING MAY 4, 1990 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: COUNTRY •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 MEMO: ••UNITED STATES MONETARY UNIT Apr. 30 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 75.000 11.823 34.630 1.1654 4.7339 6.3895 3.9765 5.6340 1.6790 164.70 7.7940 17.390 159.45 1230.00 158.85 2.7160 1.8893 57.480 6.5300 148.50 1.8770 2.6595 709.80 106.00 40.018 6.0980 1.4505 26.407 26.000 163.89 DOLLAR •VALUE IS U.S. CENTS 93.16 (CURRENCY UNITS PER DOLLAR) May. 1 May. 2 May. 3 74 570 11 823 34 670 1 .1648 4 .7339 6 .3880 3 .9715 5 .6380 1 .6810 164 .70 7 .7915 17 .380 159 .60 1231 .50 158 .85 2 .7165 1..8901 56..850 6..5320 148..70 1..8760 2..6550 709. 20 105. 90 N. A. 6.1050 1 4555 26 404 N A. 164 05 93.21 75. 200 11.836 34. 720 1 . 1673 4. 7339 6 3970 3 9740 5 6470 1 6826 165 .00 7 .7910 17 .390 159 .35 1233 .75 158 .30 2 .7135 1 .8925 57 .080 6 .5220 148..80 1..8750 2..6590 N..A. 105..88 40. 018 6.0975 1 4555 26 404 26 020 164 30 93.24 75 520 11 830 34 .690 1 .1670 4 .7339 6 .3890 3 .9730 5 .6420 1 .6825 164 .84 7 .7920 17 .370 159 .58 1232 .00 158..15 2 ..7080 1..8918 57. 270 6..5200 148..80 1. 8775 2..6580 708. 60 105. 33 40. 018 6.0970 1 4544 26 394 26 010 164 22 93.20 May. 4 75.460 11.760 34.480 1.1633 4.7339 6.3480 3.9500 5.6115 1.6720 164.10 7.7930 17.330 160.55 1225.50 158.35 2.7100 1.8801 57.260 6.4800 147.90 1.8760 2.6550 708.30 104.63 40.018 6.0800 1.4447 26.394 26.020 166.00 92.72
@FedFRASER