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(516/517) Selected Interest & Exchange Rates Weekly Series of Charts May 9,1888 DIVISION OF INTERNATIONAL FINANCE Prepared by the FINANCIAL MARKETS SECTION BOARD OF GOVERNORS FEDERAL RESERVE SYSTEM Washington, MX 26661 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 $21.00 per year or $.50 each in the United States, its possessions, Canada, and Mexico; 10 or more of the same issue to one address, $19.50 per year or $.45 each. Elsewhere, $26.00 per year or $.60 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 1 9 7 3 = 1 0 0 RATIO SCALE MARCH 1 9 7 3 = 1 0 0 200 180 FOREIGN CURRENCY PRICE OF U.S. DOLLAR 160 - — N — 140 - - 120 - - 100 - - I 80 220 200 180 ITALIAN LIRA L — 35 - - 30 - - 25 I — GERMAN MARK 160 140 I I I I I I I I I I I I 20 JAPANESE Y E N / — ^ 220 200 180 I — — - - f - 120 - - 100 - - i I I I iill ihilii I — - 80 • v T i I I — — — 40 - f i T n 1111111 I 50 45 r> - iiiniiiiii I I I I I I — 160 - 140 - 120 - 100 | | I I I I M I Il l Il l Il l l l l l 80 DUTCH GUILDER CANADIAN DOLLAR 90 80 70 UK. POUND " VV~ / V FRENCH FRANC \ V* J/ "~V~A 60 50 - Y\R 40 I - I I I I I \I IIINIIIIII 140 120 I I I 90 80 - 70 - 60 - 50 ILLLLLLLLLL — - - - Y - SWISS FRANC — 80 - 70 - _ z / v ysf 60 - — - — - — - sAj - I I I I I I I I I I I II I 1986 1988 40 280 BELGIAN FRANC 100 90 50 I - I I I I I 1986 I 200 180 - 160 - 140 - 120 ILLLLLLLLLL ILLLLLLLLLL 1988 240 100 CHART 2 3-MONTH FORWARD EXCHANGE RATES PREMIUM (+) OR (-) AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER ANNUM PERCENT PER ANNUM 4 8 CANADIAN DOLLAR JAPANESE YEN A I I I i I i V V - llllllllll! I I I I I 4 I 12 U. K. POUND A, I I I I I SWISS FRANC V I I I I I I - I 0 111111111111 8 GERMAN MARK DUTCH GUILDER + 0 I I I I I I iiliilnlii I I I I I .ihiliiln MIIIII.II, ITALIAN LIRA FRENCH FRANC 1986 I 1988 1986 1988 CHART 3 PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY U.S. DOLLARS PER FINE OUNCE U.S. c LLARS PER FINE OUNCE 520 520 500 500 480 480 460 460 12.5 Kg BARS AFTERNOON FIXING PRICE 440 440 420 420 400 400 380 380 360 360 340 340 320 320 300 300 i i I i i ! I I I I I I I i I i i I i i I i i 280 1985 1986 1987 1988 280 CHART 4 CALL MONEY RATES WEEKLY SERIES PER< MUM 16 12 16 U. S. FEDERAL FUNDS FRANCE 12 8 8 4 4 0 0 16 16 12 12 8 GERMANY 8 4 4 6 0 16 20 SWITZERLAND 16 12 12 8 8 4 NETHERLANDS 0 4 0 CHART 5 3-MONTH INTEREST RATES WEEKLY SERIES PERCENT PER Ah NT PER ANNUM 16 12 10 CANADIAN FINANCE CO. PAPER - U.S. CD'S 14 8 - 10 6 WEIGHTED AVERAGE FOREIGN RATE 4 - III I I I 2 I I I I I 8 6 I 14 16 14 12 FRENCH INTERBANK RATE UK. INTERBANK STERLING 12 12 10 10 8 8 6 10 10 8 8 GERMAN INTERBANK RATE 6 6 4 4 2 2 10 8 8 JAPANESE GENSAKI RATE - SWISS INTERBANK RATE 6 4 \ / 4 I 2 6 1986 1988 I I I I I 1986 - 2 0 1988 CHART 6 EURO-DOLLAR DEPOSIT RATES LONDON AVERAGES FOR WEEK ENDING WEDNESDAY ENT PER ANNUM PERCENT PER Al 14 14 OVERNIGHT 3-MONTH 12 12 10 10 8 8 6 6 4 4 14 14 7-DAY 6-MONTH 12 12 10 10 8 8 6 6 4 4 14 14 1-YEAR 1-MONTH 12 12 10 10 8 8 6 6 4 4 1986 1988 1986 1988 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 AF :NT PER ANNUM 14 14 12 12 10 10 FEDERAL FUNDS 3-MONTH DASHED LINE EURO-DOLLAR DEPOSITS 8 8 6 6 OVERNIGHT 90-DAY CD* S EURO-DOLLAR DEPOSITS DASHED LINE 4 4 I 2 I I 111111111111 n 1111 n 1111 I I I L I I I 11111111111111111111111 2 2 2 DIFFERENTIAL DEFERENTIAL 1 1 + 0 0 ! 1111111111111111 1 1986 I PERCENT ON DIFFERENTIAL SCALE = 2 PERCENT ON RATE SCALE 1988 I I L I I I I 1986 I I I I I I I I I I I I 11 I I I 111 I 11 1988 1 CHART 8 INTEREST ARBITRAGE: 3-MONTH FUNDS DIFFERENTIAL: PLUS(+), INDICATES FAVOR DOLLAR ASSETS AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER ANNUM PERCENT PER ANNUM INTERBANK STERLING COVERED LONDON CANADIAN FINANCE CO. PAPER, COVERED EURO-DOLLAR DEPOSITS U. S. COMMERCIAL PAPER DASHED LINE 2 DASHED LINE DIFFERENTIAL DIFFERENTIAL 16 12 16 INTERBANK DM COVERED FRANKFURT SWISS INTERBANK (SF) COVERED 8 4 EURO-DOLLAR DEPOSITS EURO-DOLLAR DEPOSITS DASHED LINE DASHED LINE 0 2 DIFFERENTIAL 1986 DIFFERENTIAL 1988 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 1986 1988 CHART 9 LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES PERCENT PER ANNUM PERCENT PER ANNUM UNITED STATES CANADA 14 10 UNITED KINGDOM 12 JAPAN 10 8 6 8 10 GERMANY SWITZERLAND 17 15 U. S. CORPORATE MONTHLY 15 - 13 „ 11 - Aaa BONDS - v — , - 9 - 7 5 FRANCE ; - - - I I I I I 1986 I lllllllllll NETHERLANDS MONTHLY lllllllllll 1988 1986 1988 CHART 10 INDUSTRIAL STOCK INDICES WEEKLY SERIES RATIO SCALE 1969=100 RATIO SCALE 1969=100 500 500 400 - J\j\ — UNITED STATES 300 — 200 - J™ I - - i 100 i i I I AWV A J - /VrWVA - - 350 - JAPAN j / I ^ - /r Y - - I I I I I — 300 200 I I I I I I I 11 1 I I I I I I M l n h . l n I III I i l l I III 11! j i ! 11111 - - FRANCE f - I I — — 400 A . I / — I I I SWITZERLAND - 550 — 450 - 350 - 250 I IIIIIIIIII I 100 650 — - 250 150 400 ^ — 450 500 — >.I,.lulu I 650 550 — UNITED KINGDOM 150 250 / - 200 - 150 CANADA V 300 I 200 500 I I I I I I I I I I I ..I..Int.. — — 400 - NETHERLANDS 300 - 200 -y-*r 100 I - \S\r , S - / I I I I 1986 I - - III,.lull. 1988 1986 1988 400 SBKIES MANE LAST VALUE PLOTTED DATE VALUE CHART 1. SPOT EXCHANGE BATES AMD INDICES WEEKLY AVERAGES, NOON BUYING BATES (U.S. CENTS) GERHAN MARK JAPANESE YEN DUTCH GUILDER U.K. POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC BELGIAN f&ANC ITALIAN LISA SWEDISH KRONA MAY HAY HAY MAY MAY MAY MAY MAY MAY MAY 4 4 4 4 4 4 4 4 4 4 59.67 0. 80083 53.20 187. 19 81.14 17.56 71.73 2.85292 Q. 08017 17.01 MAY MAY MAY MAY MAY MAY MAY MAY MAY 4 4 4 4 4 4 4 4 4 167. 87 209.68 152.73 75.71 80. 87 79. 14 230. 75 112.42 45. 54 4 4 4 4 4 4 4 4 4 4 4 89. 17 166.81 207. 12 142.83 66. 59 72. 18 69. 67 215.42 102.86 38.91 67.94 4 4 4 4 4 4 4 4 -1.69 -1.09 3.82 -1.11 5.05 3.23 3.39 -3. 06 INDICES, MARCH 1973 BASE BATES = 100 GERMAN MARK JAPANESE YEN DUTCH GUILDER U.K. POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC BELGIAN FRANC ITALIAN LIRA GHTED AVERAGE EXCHANGE VALUE INDICES, MAR 1973 = 100 1G-10 COUNTRIES PLUS SWITZERLAND) U.S. DOLLAR GERMAN MARK JAPANESE YEN DUTCH GUILDER O.K. POUND CANADIAN DOLLAR FRENCH FBANC SWISS FRANC BELGIAN FBANC ITALIA# LIRA SWEDISH KRONA MAY MAY MAY MAY MAY MAY MAY MAY MAY MAY MAY CHART 2. 3-HONTH FOB0ABO EICHANGE BATES, PBEfllOtt OB DISCOUNT CANADIAN DOLLAR U« K. POUND GEBflAN HARK FRENCH FBANC S1ISS FBANC DUTCH GUILDEB JAPANESE YEN ITALIAN LIRA MAY MAY MAY MAY MAY MAY MAY MAY SERIES MAES LAST VALUE PLOTTED DATE VALUE CHART 3. GOLD PRICE IB LONDON, AFTERNOON FIXING U.S. DOLLARS PER FINE OUNCE MAY 4 447.08 MAY MAY MAY MAY MAY MAY MAY MAY MAY 4 4 4 4 4 4 4 4 4 6. 83 6.65 7. 25 8. 42 , 3.24 3. 38 7. 55 3.90 1.38 MAY HAY MAY MAY MAY MAY MAY MAY MAY 4 4 4 4 4 4 4 4 4 7.05 3. 43 3. 80 9. 05 8.34 2.00 7. 99 4.00 5.62 MAY MAY MAY MAY MAY MAY 4 4 4 4 4 4 6.65 6.81 6. 99 7. 19 7.44 7. 83 OVERNIGHT EURO-DOLLAR DEPOSITS U.S. FEDERAL PONDS DIFFERENTIAL MAY MAY MAY 4 4 4 6.65 6.83 -0. 18 3-MONTH EURO-DOLLAR DEPOSIT RATS U.S. 90—DAI CD'S, SECONDARE MARKET DIFFERENTIAL MAY MAY MAY 4 4 4 7. 19 7.05 0. 14 CHART 4. CALL MONEY RATES U.S. FEDERAL FUNDS OVERNIGHT EURO-DOLLAS DEPOSITS U.K. CANADA GERMANY JAPAN FRANCE NETHERLANDS SHITZERLAND CHART 5..J-MONTH INTEREST RATES U.S. 90-DAY CD'S, SECONDARY MARKET GERMAN INTERBANK LOAN JAPANESE GSNSAKI BATE CANADIAN FINANCE PAPER IMTSBBANX STERLING SWISS INTERBANK LOAN FRENCH 1STEEBANK RATS NBTHERLASDS INTERBANK RATE WEIGHTED AVERAGE FOREIGN INTEREST RATE (G-10 COUNTRIES PLUS S8IISBSLAND) CHART 6. EURO-DOLLAS DEPOSIT RATES: LONDON OVEBNIGHT 7-DAY 1-MONTH 3-MONTH 6-MONTH 1-YEAS CHART 7. SELECTED EURO-DOLLAR AID U.S. MONEY MARKET RATES SERIES HAHE LAST VALUE PLOTTED DATE VALUE CHART 8* Hi TRUEST ARBITRAGE, 3-HONTH FUNDS EU&O-DOLLAR DEPOSIT INTERBANK STERLING (LONDON), COVERED DIFFERENTIAL MAI HA I HA I 4 4 4 7. 19 7.24 -0.05 U.S. COHHEBCIAL PAPER CANADIAN FINANCE PAPER, COVERED DIFFERENTIAL HAY HA I HAT 4 4 4 6.98 7. 32 -0.34 EURO-DOLLAR DEPOSIT INTERBANK DH (FRANKFORT), COVERED DIFFERENTIAL HAY HAY HAY 4 4 4 7.19 7.28 -0.09 EURO-DOLLAR DEPOSIT SWISS INTERBANK, COVERED DIFFERENTIAL MAY HAY MAY 4 4 4 APRIL APRIL APRIL APRIL APRIL APRIL FEB. APRIL 29 29 22 8 22 22 7. 19 7.07 0. 12 CHART 9. LONG TERH GOVERHENT BOND YIELDS UNITED STATES GERMANY JAPAN SWITZERLAND CANADA FIANCE NETHfiRLAMDS (HOliTHLY) UNITED KINGDOM 29 8. 82 5.94 3.89 4.05 10.36 9.36 6.09 8.95 U.S. CORPORATE AAA BONDS CHART 10. 9.33 HA I STOCK INDICES ONITE0 STATES UNITED KIRGDOH CANADA GERMANY SVITZERLAID NETHERLANDS FRANCE JAPAN MAY MAY MAY HAY MAY MAY MAI MAY 4 4 4 4 4 4 4 4 280. 45 316.17 330.37 19 1. 03 173.65 296.54 315. 15 586.82 m •vjoL22w>'/- FEDERAL RESERVE statistical release H.IOC 512) MAY 6, 1988 FOREIGN EXCHANGE RATES FOR THE MEEK ENDING MAY 6, 1988 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 MONETARY UNIT •AUSTRALIA AUSTRIA BELGIUM CANADA CHINA,P.R. DENMARK FINLAND FRANCE GERMANY GREECE HONG KONG INDIA *1RELAND ITALY JAPAN MALAYSIA NETHERLANDS *NEN 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: •UNITED STATES DOLLAR MAY 2 (CURRENCY UNITS PER DOLLAR) MAY 3 MAY 4 MAY 5 MAY 6 76.06 11.814 35.100 1.2314 3.7314 6.4750 4.0160 5.7020 1.6786 135.100 7.8230 13.3000 158.55 1249.50 124.95 2.5750 1.8820 67.400 6.1900 137.900 2.0040 2.1650 743.40 110.970 30.962 5.8900 1.3980 28.690 25.150 187.15 76.60 11.800 35.090 1.2347 3.7314 6.4700 4.0100 5.7010 1.6772 134.650 7.8250 13.2800 159.10 1249.00 124.88 2.5800 1.8815 68.130 6.1725 137.400 2.0045 2.1745 743.50 110.770 30.975 5.8800 1.3950 28.680 25.170 187.12 76.94 11.815 35.150 1.2355 3.7314 6.4740 4.0170 5.7070 1.6799 135.000 7.8195 13.2800 158.85 1251.00 125.00 2.5820 1.8845 68.950 6.1800 137.600 2.0055 2.2010 743.60 111.080 30.977 5.8900 1.4000 28.660 25.170 186.45 76.76 11.810 35.110 1.2332 3.7314 6.4750 4.0150 5.7190 1.6792 134.750 7.8100 13.2700 158.80 1255.00 124.65 2.5850 1.8935 68.420 6.1650 137.600 2.0040 2.2200 743.60 111.000 30.975 5.8850 1.3993 28.660 25.170 186.65 76.80 11.820 35.170 1.2379 3.7314 6.4935 4.0230 5.7140 1.6805 135.100 7.8140 13.2800 158.90 1252.50 124.88 2.5870 1.8850 68.350 6.1780 137.700 2.0055 2.2200 742.70 111.250 30.982 5.8955 1.4020 28.660 25.170 186.20 89.26 89.24 89.39 89.40 89.46 tINDEX 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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