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(516/517) Selected Interest & Exchange Rates Weekly Series of Charts November 13,1989 DIVISION OF INTERNATIONAL FINANCE Prepared by the FINANCIAL MARKETS SECTION BOARD OF GOVERNORS FEDERAL RESERVE SYSTEM Washington, DC. 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 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 $.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 OF FOREIGN CURRENCIES AND WEIGHTED AVERAGE VALUES (THIN LINE) AVERAGES FOR WEEK ENDING WEDNESDAY RATIOS 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 70 I I I I I 70 I 280 280 240 JAPANESEYEN SWISS FRANC 240 200 200 180 180 160 160 140 140 120 120 100 100 CANAD AN DOLLAR 90 80 90 U.K. POUND 80 70 70 60 60 50 50 200 180 200 180 GERMAN MARK DUTCH GUILDER 160 160 140 140 120 120 100 100 120 60 ITALIAN LIRA 100 90 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 Av* \r^ I I \ I i i I i I GERMAN MARK I I I - I JAPANESE YEN z \ I I I I I I I I SWISS FRANC I I ! I I I I I DUTCH GUILDER VI I V I I FRENCH FRANC I I I I I Ml..I..Ill ITALIAN LIRA - 12 4 12 1987 1989 1987 1989 CHART3 PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY U.S. U.S. DOLLARS PER FINE Ol DLLARS PER FINE OUNCE 520 520 500 500 12.5 Kg BARS AFTERNOON FIXING PRICE 480 480 460 460 440 440 420 420 400 400 380 380 360 360 340 340 320 320 I 300 1986 1987 1988 I I I I I 1989 I I I I I 300 CHART4 CALL MONEY RATES WEEKLY SERIES PERCENT PER ANf iENT PER ANNUM 16 16 12 U.S. FEDERAL FUNDS 12 FRANCE ./\a 8 a N.. / 8 JAPAN 4 4 0 U L 1_L n 1111 i i I I I I I I 0 16 16 CANADA 12 12 8 GERMANY 8 4 4 0 0 16 20 UNITED KINGDOM SWITZERLAND 16 12 12 8 8 4 NETHERLANDS 4 0 0 1987 1989 1987 1989 CHARTS 3-MONTH INTEREST RATES WEEKLY SERIES PERCENT PER A M ENTPER ANNUM 12 12 FRENCH INTERBANK RATE 10 10 U.S. CD'S 8 8 6 6 WEIGHTED AVERAGE FOREIGN RATE 4 I 2 I 4 I I I Ml I 2 16 14 16 - U.K. INTERBANK STERLING CANADIAN FINANCE CO. PAPER 12 f - 10 12 10 8 - I 6 I I I I I 8 6 8 6 14 8 - JAPANESE GENSAKI RATE SWISS INTERBANK RATE jJ - 6 4 4 2 — 0 I I I I I I 2 0 10 10 8 8 6 GERMAN INTERBANK RATE 6 4 4 2 2 1987 1989 1987 1989 CHART 6 EURO-DOLLAR DEPOSIT RATES LONDON AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER ANI DENT PER ANNUM 14 14 3-MONTH OVERNIGHT 12 12 10 10 8 8 6 6 4 4 14 14 12 6-MONTH 7-DAY — 12 10 10 8 8 6 4 6 - I I I I I I 4 14 14 12 1-MONTH 1-YEAR — — 12 10 10 8 8 6 - I 4 1987 1989 I I I I 1987 I 6 4 1989 CHART7 SELECTED EURO-DOLLAR AND U.S. MONEY MARKET RATES DIFFERENTIAL: PLUS(+),FAVORS BORROWING IN U.S. AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER ANI 14 14 12 12 10 10 3-MONTH EURO-DOLLAR DEPOSITS FEDERAL FUNDS DASHED LINE A " 8 - V 6 v / Nv \/ bi Jss Y OVERNIGHT r v ^ 6 v 90-DAY CD'S DASHED LINE EURO-DOLLAR DEPOSITS 4 - 4 i i 111111111 2 - 111 n 1111 i i 1111111 n 111 2 8 i i i 1 1 1 111111111II 2 2 DIFFERENTIAL DIFFERENTIAL 1 1 + + 0 1 0 I I I 111111111111111111111111 1987 ENTIAL SCALE = 2 PERCENT ON RATE SCALE 1989 1 1 1 1 1 1987 1 II 111111111 i i 1111111 i i 1989 1 CHARTS INTEREST ARBITRAGE: 3-MONTH FUNDS DIFFERENTIAL: PLUS(+), INDICATES FAVOR DOLLAR ASSETS AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER AW PEI iENTPER ANNUM 16 16 12 12 CANADIAN FINANCE CO. PAPER, COVERED INTERBANK STERLING COVERED LONDON 8 8 U.S. COMMERCIAL PAPER EURO-DOLLAR DEPOSITS 4 0 4 DASHED LINE DASHED LINE iiliilnlnlnliiliiln I I I I I I I I I I I I I III III I I I 2 2 DIFFERENTIAL DIFFERENTIAL + + 0 0 II I I 2 111 I I 11 l l l l l l l l l l l I 16 2 16 12 12 INTERBANK DM COVERED FRANKFURT SWISS INTERBANK (SF) COVERED 8 8 EURO-DOLLAR DEPOSITS 4 0 0 EURO-DOLLAR DEPOSITS DASHED LINE I I I I I 4 DASHED LINE lllllllllll lllllllllll I I I I I I I I I I I I I I II I I I I II I I I I II I I 2 0 2 DIFFERENTIAL DIFFERENTIAL + + 0 0 Iilnliiliiliilnli 11 l i i l i ' l 11111111 l u l l i 2 1987 1989 I PERCENT ON DIFFERENTIAL SCALE = 2 PERCENT ON RATE SCALE 1987 1989 2 CHART9 LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES )ENT PER ANNUM PERCENT PER ANI 14 12 14 UNITED STATES - CANADA 12 10 10 8 8 I 6 I I 6 14 12 14 - UNITED KINGDOM FRANCE 12 10 10 8 8 6 6 J _ ! 10 8 __ 10 - SWITZERLAND JAPAN — 6 6 4 2 — M i l l nil! I I I I I I 4 2 10 10 NETHERLANDS 8 8 GERMANY MONTHLY 8 6 6 4 4 2 2 1987 1989 1987 1989 CHART 10 INDUSTRIAL STOCK INDICES WEEKLY SERIES RATIO SCALE 1969=100 RATIO SCALE 1969*100 UNITED STATES NETHERLANDS 800 —I JAPAN 600 - — 500 - - 400 300 - A\ / -J - I 200 GERMANY I I I I nl.iliil,. Illllllllll I 300 SWITZERLAND 250 FRANCE 200 150 100 - — — I I I l I I IN — 600 500 - CANADA 400 ' I/ l 300 200 UNITED KINGDOM I I I I I 1987 I ZA/V™ y V X v V f I,, 1989 1987 1989 SERIES NAME LAST VALUE PLOTTED DATE VALUE CHART 1. SPOT EXCHANGE BATES AND INDICES WEEKLY AVERAGES, MOON BUYING RATES (U.S. CENTS) GERMAN HARK JAPANESE YEN DUTCH GUILDER U.K. POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC BELGIAN FRANC ITALIAN LIRA SWEDISH KRONA NOV. NOV. NOV. NOV. NOV. NOV. NOV. NOV. NOV. NOV. 8 8 8 8 8 8 8 8 8 8 54. 13 0.69720 47. 95 157.61 85. 36 15. 96 61.68 2. 57972 0.07389 15.55 NOV. NOV. NOV. NOV. NOV. NOV. NOV. NOV. NOV. 8 8 8 8 8 8 8 8 8 152.26 182.55 137.64 63.75 85.08 71.91 198.44 101. 65 41.98 8 8 8 8 8 8 8 8 8 8 8 98.46 100.47 193. 53 138. 90 60.02 82.92 68.29 199. 86 100.44 3 8. 77 67. 13 8 8 8 -3. 53 -6.27 0. 32 -1.77 0.70 0.12 2.09 -4.06 INDICES, MARCH 1973 BASE RATES = 100 GERMAN MARK JAPANESE YEN DUTCH GUILDER U.K. POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC BELGIAN FRANC ITALIAN LIRA WEIGHTED AVERAGE EXCHANGE VALUE INDICES, HAH 1973 = 100 (G-10 COUNTRIES PLUS 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 NOV. NOV. NOV. NOV. NOV. NOV. NOV. NOV. NOV. NOV. NOV. IF 2. 3-MONTH FORWARD EXCHANGE RATES, PREMIUM OR DISCOUNT CANADIAN DOLLAR U.K. POUND GERMAN HARK FRENCH F8ANC SWISS FRANC DUTCH GUILDER JAPANESE YEN ITALIAN LIRA NOV. NOV. NOV. NOV. NOV. NOV. NOV. NOV. ti 8 8 8 8 SERIES NAME LAST VALUE PLOTTED DAZE VALUE CHART 3. GOLD PRICE 18 LONDON, AFTERNOON FIXING U. 3. DOLLABS PER FINE OUNCE NOV. 8 380.36 NOV. NOV. NOV. NOV. NOV. NOV. NOV. NOV. NOV. a 8 8 8 8 8 8 8 8 8. 69 a. 61 14. 78 12. 20 7. 76 5. 76 10.00 8 . 27 6 . 67 CHART 4. CALL HONEY RATES U.S. FEDERAL FUNDS OVERNIGHT EURO-DOLLAR DEPOSITS U.K. CA NADA GERMANY JAPAN FRANCE NETHERLANDS SWITZERLAND CHART 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 RATE WEIGHTED AVERAGE FOREIGN INTEREST RATE (G-10 COUNTRIES PLUS SWITZERLAND) NOV. 8 NOV. 8 NOV. 8 NOV. 8 NOV. 8 NOV. 8 NOV. 8 NOV. 8 OCT. 25 8. 54 8.29 5.67 12.36 15.14 7. 77 10.36 8.41 9.39 CHART 6. EURO-DOLLAR DEPOSIT RATES: LONDON OVERNIGHT 7-DAY 1—MONTH 3-HONTH 6-SONTH 1-YEAR NOV. NOV. NOV. NOV. NOV. NOV. 8 8 8 8 8 8 8.61 8.61 8.59 8.60 8.38 8.31 8 CHART 7. SELECTED EURO-DOLLAR AND U.S. MONEY MARKET RATES OVERNIGHT EURO-DOLLAR DEPOSITS U.S. FEDERAL FUNDS DIFFERENTIAL NOV. NOV. NOV. ti 8 8.61 8.69 -0. 08 3-MONTH EURO-DOLLiH DEPOSIT RATE U.S. 90-DAY CD'S, SECONDARY MARKET DIFFERENTIAL NOV. NOV. NOV. 8 8 a 8.60 8. 54 0.06 SBEIES NAME LAST VALUE PLOTTED DATE VALUE CHART 8. INTEREST ARBITRAGE, 3-MONTH PONDS EURO-DOLLAS DEPOSIT INTERBANK STERLING (LONDOJt) , COVERED DIFFERENTIAL NOV. NOV. NOV. 8 8 8 8.60 8. 64 -0*04 U.S. COMMERCIAL PAPER CANADIAN FINANCE PAPER, COVERED DIFFERENTIAL NOV. NOV. NOV. 8 8 8 a. 50 8.72 -0.22 EURO-DOLLAR DEPOSIT INTERBANK DM (FBANKFURT) , COVERED DIFFERENTIAL NOV. NOV. NOV. 8 8 8 8.60 8.61 -0.01 EURO-DOLLAR DEPOSIT SWISS INTERBANK, COVERED DIFFERENTIAL NOV. NOV. NOV. 8 8 8 8. 60 8.48 0.12 NOV. NOV. OCT. NOV. OCT. OCT. AUG. NOV. 3 10 20 3 27 27 7.92 7.50 5.37 5.41 9. 46 9.38 7. 03 9.69 9. LONG TERM GOVERMENT BOND YIELDS UNITED STATES GERMANY JAPAN SWITZERLAND CANADA FRANCE NETHERLANDS (MONTHLY) UNITED KINGDOM 10 U.S. CORPORATE AAA BONDS CHART 10. 9.33 STOCK INDICES UNITED STATES UNITED KINGDOM CANADA GERMANY SWITZERLAND NETHERLANDS FRANCE JAPAN MAY NOV. NOV. NOV. NOV. NOV. NOV. NOV. NOV. 8 8 8 8 ti 8 8 8 355. 85 390. 06 389. 94 262. 58 246. 00 337. 75 504. 83 711. 72 FEDERAL RESERVE statistical release H.10(512) November 1 3 , 1989 FOREIGN EXCHANGE RATES FOR THE MEEK ENDING NOVEMBER 1 0 , 1989 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 *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: ^UNITED STATES DOLLAR Nov. 6 (CURRENCY UNITS PER DOLLAR) Nov. 8 Nov. 7 Nov. 9 Nov. 10 78.140 13.035 38.870 1.1714 3.7314 7.1905 4.2870 6.2830 1.8518 165.85 7.8145 16.910 143.35 1355.25 143.70 2.7020 2.0909 58.700 6.9395 158.50 1.9620 2.640 674.60 116.85 40.018 6.4390 1.6242 N. A. 25.890 157.85 78.460 12.990 38.680 1.1710 3.7314 7.1575 4.2730 6.2565 1.8448 165.85 7.8140 16.880 143.70 1349.25 143.44 2.7010 2.0826 58.850 6.9225 157.95 1.9625 2.635 674.80 116.43 40.018 6.4250 1.6195 25.918 25.910 158.12 78.530 12.998 38.690 1.1698 3.7314 7.1650 4.2750 6.2550 1.8455 164.95 7.8125 16.880 143.75 1350.50 143.14 2.6995 2.0832 58.850 6.9100 157.73 1.9590 2.625 674.70 116.30 40.018 6.4200 1.6170 25.950 25.880 158.65 78.910 12.995 38.780 1.1678 3.7314 7.1820 4.2750 6.2670 1.8485 165.45 7.8150 16.900 144.00 1352.00 142.86 2.6980 2.0865 58.730 6.9205 158.12 1.9580 2.635 674.60 116.50 40.018 6.4270 1.6217 25.983 25.880 158.62 78.590 13.115 39.060 1.1697 3.7314 7.2250 4.3000 6.3140 1.8633 165.85 7.8135 16.930 143.10 1359.00 143.30 2.6995 2.1019 58.600 6.9650 158.90 1.9600 2.656 674.70 • 117.38 40.018 6.4600 1.6377 26.000 25.900 157.63 98.60 98.30 98.23 98.31 98.90 *VALUE I S U . S . CENTS **INDEX OF WEIGHTED AVERAGE EXCHANGE VALUE OF U . S . DOLLAR AGAINST CURRENCIES OF OTHER G-10 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.
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