Full text of H.13 Selected Interest and Exchange Rates, Weekly Series of Charts : November 1, 1993

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(516/517)

Selected Interest &
Exchange Rates
Weekly Series of Charts

November 1,1993

DIVISION OF
INTERNATIONAL FINANCE

Prepared by the
FINANCIAL MARKETS
SECTION

BOARD OF GOVERNORS
FEDERAL RESERVE SYSTEM
Washington, CXC. 2 0 5 5 1




Table of Contents

TABLES
1. LATEST FIGURES PLOTTED
2. DAILY CERTIFIED SPOT
EXCHANGE RATES
H.10 RELEASE
CHARTS
1.
2.
3.
4.
5.

SPOT EXCHANGE RATE INDICES
3-MONTH FORWARD EXCHANGE RATES
GOLD PRICE—LONDON
CALL MONEY RATES
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
140

FOREIGN CURRENCY
PRICE OF U.S. DOLLAR

110

130

100

120

90

110

80

100

BELGIAN FRANC

I

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I

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•

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JAPANESE YEN

SWISS FRANC
1

1

1

I

1

1

I

1

1

•

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'

U.K. POUND

CANADIAN DOLLAR

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•

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GERMAN MARK

DUTCH GUILDER

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« « »

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l

i

i

FRENCH FRANC

ITALIAN
1

1

1

1990




l

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1

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1

1

•

1992

l

'

i

i
1990

1992

i

l

CHART 2

3-MONTH FORWARD EXCHANGE RATES
PREMIUM (+) OR (-)
AVERAGES FOR WEEK ENDING WEDNESDAY
PERCENT PER ANNUM
2

PERCENT PER ANNUM
2
U.K. POUND

CANADIAN DOLLAR

I

I

I

I

»

I

JAPANESE YEN

>

I

•

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I

1

»

SWISS FRANC

DUTCH GUILDER

i

1

1

1990



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1

1

I

i

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1 ' I

ITALIAN LIRA

FRENCH FRANC

1

i

1

I

1

1

1

1992

I

I

1

1

1990

1992

i

I

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'

i

CHART 3

PRICE OF GOLD IN LONDON
AVERAGES FOR WEEK ENDING WEDNESDAY
U.S. DOLLARS PER FINE OUNCE

U.S. DOLLARS PER FINE OUNCE

420

420

12.5 Kg BARS
AFTERNOON FIXING PRICE

400

400

380 —

380

360 —

360

340 —

340

320

1990




1991

1992

1993

320

CHART 4

CALL MONEY RATES
WEEKLY SERIES
PERCENT PER ANNUM
10

PERCENT PER ANNUM
16

FRANCE

U.S. FEDERAL FUNDS

J

JAPAN

NETHERLANDS
GERMANY

UNITED KINGDOM

SWITZERLAND
'

'

» l




•

» '

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CANADA

CHART 5

3-MONTH INTEREST RATES
WEEKLY SERIES
PERCENT PER ANNUM
15

PERCENT PER ANNUM
12

WEIGHTED AVERAGE
FOREIGN RATE

CANADIAN FINANCE PAPER

—

U.S. CD'S

U.K. INTERBANK STERLING

—

NETHERLANDS INTERBANK RATE

JAPANESE CD RATE
FRENCH INTERBANK RATE
"

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1

1

1

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1

V

I

1

GERMAN INTERBANK RATE

SWISS INTERBANK

•
1990



1992

1990

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1992

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CHART 6

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

PERCENT PER AN

10
3-MONTH

OVERNGHT
8

6

4

2
10

7-DAY

8

6-MONTH

6

4

2
10

1-YEAR

1-MONTH

8

6

4

2

•

i

i

1990




I

1

1

» i

1

1

1

1992

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1

1

•

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1990

•

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1992

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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
10

PERCENT PER ANNUM
10

3-MONTH
EURO-DOLLAR DEPOSITS

OVERNIGHT
EURO-DOLLAR DEPOSITS

90-DAY CD'S
DASHED LINE

FEDERAL FUNDS
DASHED LINE

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J__l

I

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1992

I

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DIFFERENTIAL

DIFFERENTIAL
—

Uv-vvvy-yr

1

1
1990




I

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i
1992

i

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i

J

I
1990

I

I

I

L

J

L

CHART 8

INTEREST ARBITRAGE: 3-MONTH FUNDS
DIFFERENTIAL: PLUS(+), INDICATES FAVOR DOLLAR ASSETS
AVERAGES FOR WEEK ENDING WEDNESDAY
PERCENT PER ANNUM
10

PERCENT PER ANNUM
10

CANADIAN FINANCE
CO. PAPER, COVERED

INTERBANK STERLING
COVERED LONDON

EURO-DOLLAR DEPOSITS 1
DASHED LINE

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U.S. COMMERCIAL PAPER
DASHED LINE

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WW W w s ; 1 * '

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I

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DIFFERENTIAL

DIFFERENTIAL

1

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/ v V

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1

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1

INTERBANK DM
COVERED FRANKFURT

1

1

^

1

1

1

1

1

1

V

vVW""

1

1

1

v

1

SWISS INTERBANK (SF) COVERED
Sx.
A\ a

EURO-DOLLAR DEPOSITS
DASHED LINE

EURO-DOLLAR DEPOSITS
DASHED LINE

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1990



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1

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DIFFERENTIAL

DIFFERENTIAL

» 1 I

1

—

Al.l'Wftr

1 '

I
1992

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v-t/A

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1990

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1992

CHART 9

LONG-TERM GOVERNMENT BOND YIELDS
WEEKLY SERIES
PERCENT PER ANNUM
10
UNITED STATES

UNITED KINGDOM

CANADA

FRANCE

I

•

I

I

SWITZERLAND

'

• I '

1990




1

M

I

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I

1

JAPAN

NETHERLANDS

1

PERCENT PER ANNUM
14

GERMANY

1

1

'

• » • '
1992

• • i

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1990

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1992

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|

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CHART 10

STOCK INDICES
WEEKLY SERIES
RATIO SCALE
1986=100
230

RATIO SCALE
1986=100
230
UNITED STATES

UNITED KINGDOM

JAPAN

SWITZERLAND

GERMANY

FRANCE

CANADA

» i

'

1990




NETHERLANDS

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1992

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1990

1992

#
29 Sep-93 6-0ct-93
Chart 1.

13-0ct-93 20-Qct-93 27-0ct-93

Spot Exchange Rates and Indices

Noon buying rates (U.S. cents, weekly averages)
Belgian franc
Canadian d o l l a r
French franc
German mark
Italian lira
Japanese yen
Netherlands guilder
Swiss franc
U.K. pound

2.8610
75.542
17.573
61.317
0.06315
0.94614
54.617
70.184
150.93

2.8388
74.760
17.605
61.459
0.06285
0.94506
54.722
70.246
151.14

2.8586
75.115
17.715
62.220
0.06292
0.94633
55.330
70.966
152.79

2.8028
75.379
17.380
61.427
0.06279
0.93221
54.613
69.600
150.09

2.7544
76.098
17.089
59.692
0.06193
0.92340
53.133
67.740
148.01

112,,74
75..29
79..19
172..49
36..25
247..73
156..79
225..79
61..04

111,.86
74,.51
79..33
172..89
36..08
247..45
157..10
225..99
61..13

112..64
74..87
79..83
175..03
36..12
247..78
158..84
228..31
61..80

110,.44
75..13
78..32
172..80
36..04
244..08
156..78
223..91
60..71

108,.54
75,.85
77..01
167..92
35 .55
241..78
152..53
217..93
59..86

105 .76
68 .15
72 .25
180,.44
30,.76
256,.47
152,.80
50,.89
218,.38
54,.64
91..92

104,.61
69,.11
71..46
179..70
31..01
254..85
152..20
51..78
216..13
54..13
93..02

104 .14
70 .82
71 .17
176,.41
30,.98
255 .90
149,.89
51,.36
213,.06
54,.08
94,.59

-1..53
-3..87
-3..49
-5,.41
0,.89
-3,.12
-1..33
-2..58

-1..37
-3..89
-3..46
-5..47
0..87
-3..17
-1..34
-2..48

-1..35
-3..63
-3..39
-5..35
0..92
-3..07
-1..27
-2.,43

-1..22
-3..34
-3..17
-5..24
1..00
- 2 . .86
-1..25
-2..28

356..04

354..26

360..84

367..19

370..73

3.05
2.95
4.20
7.09
6.76
2.45
6.30
4.65
6.20

3.24
3.08
4.35
7.06
6.89
2.59
6.28
4.60
5.90

2.91
2.94
4.53
7.04
6.75
2.47
6.43
4.60
5.35

2..97
2..91
4..61
6,.98
6..69
2..48
6,.19
4 . .10
5..63

3..00
2..93
4..36
6,.86
6 , .45
2 , .44
6,.08
4,.65
5 , .55

Indices, March 1973 base rates = 100
Belgian franc
Canadian d o l l a r
French franc
German mark
Italian lira
Japanese yen
Netherlands g u i l d e r
Swiss franc
U.K. pound

Weighted average exchange value indices, Mar. 1973=100
Belgian franc
Canadian d o l l a r
French franc
German mark
Italian lira
Japanese yen
Netherlands guilder
Swedish krona
Swiss franc
U.K. pound
U.S. d o l l a r
Chart 2.

Call Money Rates

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




-1..59
-3..95
-3..46
-5..62
0..66
-3..18
-1..49
-2..72

Gold Price i n London, Afternoon Fixing

U.S. d o l l a r s per f i n e ounce
Chart 4.

105 .66
68 .25
72 .23
179,.11
30 .93
257 .83
151 .99
50,.45
217,.45
54,.35
92,.63

3-Month Forward Exchange Rates, Premiium or Discount

Canadian d o l l a r
French franc
German mark
Italian lira
Japanese yen
Netherlands guilder
Swiss franc
U.K. pound
Chart 3.

106 .43
68 .96
72 .01
178,.42
31,.06
257,.91
151,.53
50,.60
217,.06
54..21
92,.53

29-Sep-93 6-0ct-93
Chart 5.

3-Month I n t e r e s t 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 s t e r l i n g
Weighted average f o r e i g n i n t e r e s t rate
(G-10 Countries)
Chart 6.

3.10
4.86
7.02
6.58
2.51
6.25
4.54
5.91
5.79

3.24
4.94
7.04
6.64
2.48
6.30
4.51
5.96
5.80

3.22
4.84
7.08
6.64
2.47
6.29
4.46
5.84
5.78

3.22
4.74
6.84
6.55
2.46
6.21
4.40
5.71
5.69

3.26
4.62
6.56
6.37
2.40
6.08
4.41
5.56
5.53

2.95
3.05
3.06
3.06
3.25
3.43

3.08
3.01
3.06
3.25
3.25
3.43

2.94
3.00
3.06
3.25
3.25
3.41

2.91
3.00
3.06
3.25
3.25
3.38

2.93
3.00
3.06
3.26
3.28
3.44

Euro-Dollar Deposit Rates

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

13-0ct-93 20-Qct-93 27-0ct-93

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

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

2.95
3.05
-0.10

3.08
3.24
-0.17

2.94
2.91
0.03

2.91
2.97
-0.06

2.93
3.00
-0.08

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

3.06
3.10
-0.03

3.25
3.24
0.01

3.25
3.22
0.03

3.25
3.22
0.03

3.26
3.26
0.00

Euro-dollar deposit
Interbank s t e r l i n g (London), covered
Differential

3.06
3.15
-0.09

3.25
3.35
-0.10

3.25
3.32
-0.07

3.25
3.24
0.01

3.26
3.25
0.02

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

3.17
3.25
-0.08

3.23
3.39
-0.15

3.26
3.46
-0.19

3.24
3.38
-0.14

3.26
3.39
-0.13

Euro-dollar deposit
Interbank DM ( F r a n k f u r t ) , covered
Differential

3.06
3.06
0.00

3.25
3.09
0.16

3.25
3.13
0.12

3.25
3.11
0.14

3.26
3.15
0.12

Euro-dollar deposit
Swiss interbank, covered
Differential

3.06
3.03
0.03

3.25
3.16
0.09

3.25
3.11
0.14

3.25
3.12
0.13

3.26
3.15
0.12

6.95
6.10
6.11
3.99
4.41
5.94
6.98
5.35

7.02
6.05
6.04
3.90
4.34
5.89
6.88
5.36

6.82
5.99
5.96
3.87
4.23
5.87
6.83
5.28

6.68
5.92
5.90
3.86
4.15
5.80
6.80
5.24

6.78
5.90
5.86
3.80
4.13
5.78
6.73
5.42

132,.74
161,.42
109,.81
122..34
131..74
189..29
180..20
187..90

135,.15
164,.40
113,.66
125,.05
136..03
191..92
182..74
188..38

137,.02
161,.64
115,.66
124,.43
136..68
193..26
181..02
188..75

139..37
162..94
117..06
124..07
141..12
200..08
184..59
189..87

139,.88
167,.34
117,.57
123..40
142..48
203..23
184..93
189..27

Chart 8.

Chart 9.

I n t e r e s t A r b i t r a g e , 3-Month Funds

Long Term Government Bellwether Bond Yields
10-year m a t u r i t y , where available

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

Stock Indices (Wednesday f i g u r e s )

Canada
France
Germany
Japan
Netherlands
Switzerland
United Kingdom
United States

Indices ( i n order, rebased to 1986=100) are Toronto Composite, CAC General, FAZ Aktien,
Tokyo SE (Topix), CBS AH-General, Swiss Bank Index, Financial Times Ordinary, NYSE Composite



FEDERAL RESERVE statistical release
H.10(512)

October 29, 1993

FOREIGN EXCHANGE RATES
FOR THE WEEK ENDING

OCTOBER 29, 1993

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

Oct. 25

*AUSTRALIA
AUSTRIA
BELGIUM
CANADA
CHINA,P.R.
DENMARK
*EURO COMMUNITY
FINLAND
FRANCE
GERMANY
GREECE
HONG KONG
INDIA
*1RELAND
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
ECU
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

0.6693
11.765
36.370
1.3095
5.8013
6.7420
1.1435
5.7575
5.8420
1.6720
243.60
7.7295
31.430
1.4090
1609.50
108.36
2.5495
1.8786
0.5560
7.2810
172.93
1.5705
3.3620
812.30
133.92
N. A.
8.0810
1.4720
N. A.
25.340
1.4863

0.6671
11.828
36.480
1.3207
5.8013
6.7685
1.1380
5.8010
5.8580
1.6840
241.00
7.7305
31.430
1.4040
1619.00
108.14
2.5550
1.8914
0.5556
7.3280
174.16
1.5690
3.3710
812.20
134.16
N. A.
8.1035
1.4830
26.890
25.370
1.4770

0.6661
11.830
36.450
1.3184
5.8013
6.7860
1.1380
5.8160
5.8730
1.6815
240.25
7.7310
31.430
1.4045
1629.50
108.47
2.5583
1.8881
0.5545
7.3375
173.92
1.5765
3.3700
812.60
134.24
49.050
8.1345
1.4820
26.895
25.340
1.4783

0.6670
11.855
36.490
1.3227
5.8013
6.7890
1.1332
5.8120
5.9000
1.6855
241.30
7.7310
31.430
1.3970
1633.00
108.50
2.5595
1.8925
0.5540
7.3480
173.44
1.5880
3.3725
812.60
134.83
N. A.
8.1690
1.4920
26.892
25.350
1.4800

0.6655
11.780
36.380
1.3220
5.8013
6.7560
1.1410
5.7800
5.8750
1.6771
239.78
7.7280
31.430
1.4060
1629.25
108.35
2.5560
1.8837
0.5540
7.3290
173.31
1.5860
3.3600
812.10
134.41
49.050
8.1440
1.4830
26.855
25.340
1.4882

MEMO:
E*UNITED

DOLLAR

94.42

94.87

94.94

95.15

94.80

COUNTRY

STATES

(CURRENCY UNITS PER DOLLAR)
Oct. 26
Oct. 27
Oct. 28

Oct. 29

*VALUE 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.
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