Full text of H.13 Selected Interest and Exchange Rates, Weekly Series of Charts : November 13, 1995

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Selected Interest &
Exchange Rates
Weekly Series of Charts

November! 3, 1995

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
CHARTS
1. SPOT EXCHANGE RATES 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
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 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
RAT )SCALE
MAF H1973=100

120

RATIOS
MARCH 197!

FOREIGN CURRENCY
PRICE OF U.S. DOLLAR

100

BELGIAN FRANC

80

60

•

» i

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»

1

i

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i

'

300

JAPANESE YEN

SWISS FRANC

260

220

180
100

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» I I I I I

I I

I I I I I I I

CANADIAN DOLLAR

80

U.K. POUND

60

'

40
195

•

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1

1

» i

» •

•

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•

» »

•

'

> •

'

•

> » I •

1 •

I •

GERMAN MARK

DUTCH GUILDER

175

'

155

135
115

ITALIAN LIRA

FRENCH FRANC

95

75

55

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I I I




I I I
1993

I I '

I I I ' '
1995

I

I I I •

'
1993

I * '

* I I

I I I
1995

CHART 2

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

PERCENT PER ANNUM
4

2
U.K. POUND

JAPANESE YEN

CANADIAN DOLLAR

DUTCH GUILDER

SWISS FRANC

ITALIAN LIRA

FRENCH FRANC




1993

1995

1992

1994

CHART 3

PRICE OF GOLD IN LONDON
AVERAGES FOR WEEK ENDING WEDNESDAY
U.S. DOLLARS PER FINE OUNCE
420

U.S. DOLLARS PER FINE OUNCE
420

12.5 Kg BARS
AFTERNOON FIXING PRICE
400 —

400

380 - -

—

380

360 —

—

360

340

—

340

320

320
1991




1992

1993

1994

1995

CHART 4

CALL MONEY RATES
WEEKLY SERIES
PERCENT PER ANNUM

PERCENT PER ANNUM
7

10

SWITZERLAND
U.S. FEDERAL FUNDS

JAPAN

i

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i

i

10

NETHERLANDS

GERMANY

2

i

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•

16

FRANCE

14

12
CANADA

10

UNITED KINGDOM

i

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1993

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1995

i
1993

1995

CHART 5

3-MONTH INTEREST RATES
WEEKLY SERIES
)ENT PER ANNUM

PERCENT PERANI

10

8

^ WEIGHTED AVERAGE
FOREIGN RATE

6

4

2

U.S. CD'S

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12
NETHERLANDS INTERBANK RATE
10
U.K. INTERBANK STERLING

8

6

4

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i

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6

4

FRENCH INTERBANK RATE

JAPANESE CD RATE

2

0
11
GERMAN INTERBANK RATE

9
7

SWISS INTERBANK

5
3
1

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1993

•

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1995

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1993

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I I I I I
1995

CHART 6

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

8

OVERNIGHT

3-MONTH

6

4

2
8

I I I I I I I I I I I I I I I

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7-DAY

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6-MONTH

6

4

2
8

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1-YEAR

1-MONTH
6

4

2

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1993

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1995

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1993

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1

1

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

PERCENT PER ANNUM

7

7

3-MONTH

OVERNIGHT

EURO-DOLLAR DEPOSITS

EURO-DOLLAR DEPOSITS

90-DAY CD'S
DASHED LINE

FEDERAL FUNDS
DASHED LINE

J—i—i—I—i—i

DIFFERENTIAL

I




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I
1993

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DIFFERENTIAL

vy
J

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l _ L
1995

iiVy /*\r

J

L_L

.so n . v s / i . - v

J—I—I—I
1993

T"

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L_L
1995

CHART 8

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

PERCENT PER ANNUM

7

CANADIAN FINANCE
CO. PAPER, COVERED

INTERBANK STERLING
COVERED LONDON

U.S. COMMERCIAL PAPER „ | V
DASHED LINE

EURO-DOLLAR DEPOSITS
DASHED LINE

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DIFFERENTIAL

» I 1 I I I 1 I » I

DIFFERENTIAL
j

4

N
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1 » 1 I

I

1 1 I I I 1 I 1 I

I

^ l %

v X

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v
I

V V v V V

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M

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1

1

1

INTERBANK DM
COVERED FRANKFURT

SWISS INTERBANK (SF) COVERED

EURO-DOLLAR DEPOSITS
^

^URO-DOLLAR DEPOSITS

DASHED LINE

I

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1 1 I

DASHED LINE

I I 1 I 1 I I I 1 1

I

DIFFERENTIAL

1

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1 » I




1993

I

I I I I I I I I I I I I I I
DIFFERENTIAL

1 '

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1995

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1993

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1995

CHART 9

LONG-TERM GOVERNMENT BOND YIELDS
WEEKLY SERIES
PERCENT PER ANNUM

PERCENT PER ANNUM

UNITED STATES

UNITED KINGDOM

5
10

6
FRANCE

CANADA
9

8

7

6
8

5

SWITZERLAND

JAPAN

7

6
5
4
3
9

2
NETHERLANDS

GERMANY

8

7

6

5




1993

1995

5

CHART 10

STOCK INDICES
WEEKLY SERIES
RATIO SCALE

RATIO SCALE

1986=100

1986=100
250 b

220
UNITED KINGDOM

UNITED STATES

230 '

200

210

180

190

160

170

140

150
170
150

1 1 '

I I

1 I I I

I I I I I I

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120
170

JAPAN

GERMANY

150

130

130

110

110

90

90

70

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210

190

CANADA

FRANCE

70
190
170

170

150

150

130

130

110

110

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90
190

300
260

NETHERLANDS

SWITZERLAND

170

220

150

180

130

140

100

—

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1993

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1995

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1993

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1995

110

90

#
ll-Oct-95 18-Oct-95 25-Oct-95 l-Nov-95
Chart 1.

8-Nov-95

Spot Exchange Rates and Indices

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

3.4141
74 .898
20.124
70.209
0.06215
0.99344
62.664
86.991
157.90

3.4176
74.734
20.142
70.345
0.06243
0.99519
62.810
86.816
157.35

3.4876
73.456
20.400
71.817
0.06206
0.99803
64.096
88.209
157.84

3.4582
73.604
20.439
71.153
0.06266
0.98068
63.475
88.061
157.78

3 .4341
73.984
20.432
70.634
0.06279
0.96852
63 .045
87.724
157.97

134.53
74.65
90.68
197.50
35.67
260.12
179.90
279.86
63 .86

134.67
74.49
90.76
197.89
35.83
260.57
180.31
279.30
63.64

137.43
73 .21
91.93
202.03
35.62
261.32
184.01
283.78
63 .84

136.27
73 .36
92.10
200.16
35.97
256.77
182 .22
283.30
63.82

135.32
73 .74
92.07
198.70
36.04
253.59
180.99
282.22
63.89

120.43
61.33
77 . 72
195.71
27.94
250.12
164.94
56.35
252.71
52 .10
83.50

119.76
61.68
78.17
194.29
28.33
246.14
163.80
57.08
253.11
52.26
83.84

119.27
62 .22
78.41
193.30
28.49
243.56
163.14
56.85
252.91
52.51
84.17

-0..53
-0 .93
.
1..81
-4 .63
.
5,.88
1 .90
3 .70
-0 .86

-1.09
-1.38
1.84
-4 .97
5.95
2 .01
3.80
-0.80

-0.76
-0.79
1.81
-4.75
5.76
1.99
3.93
-0.79

-0..16
-0..40
1..79
-4 .72
.
5,.75
1 .99
3 .81
-0 .79

384 .08

383.84

382.24

382.45

383.28

5. 72
5.,71
6 .19
.
5..94
4 .00
,
0 .46
3 .83
2 .05
6 .49

5. 71
5..70
6..21
6..23
4 .03
.
0,.44
3 .80
1 .99
6 .30

5.76
5.69
6.21
6.86
3.98
0.45
3.60
1.78
6.05

5.76
5.69
6.19
6.55
4.02
0.46
3.69
2.13
6.60

5..71
5..69
.82
5.
6 .04
,
3 .94
0 .44
3 .66
2 .58
6 .55

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.

47
09
89
71
82
00
68
84

Gold Price in London, Afternoon Fixing

U.S. dollars per fine ounce
Chart 4.

118.83
63 .00
77 .28
192.67
28.35
251.46
162.72
54 .72
250.56
52.36
84.31

3-Month Forward Exchange Rates, Premium or Discount

Canadian dollar
French franc
German mark
Italian lira
Japanese yen
Netherlands guilder
Swiss franc
U.K. pound
Chart 3.

118.80
63 .20
77.27
192.39
28.24
251.17
162.45
54.45
251.28
52 .61
84.39

Call Money Rates

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




11-Oct-95 18-Oct-95 25-Oct-95 1-Nov-95
Chart 5.

3-Month Interest 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 sterling
Weighted average foreign interest rate
(G-10 Countries)
Chart 6.

5.79
6.49
6.85
3.98
0.50
3.87
2.23
6.66
5.14

5.78
6.47
6.62
4.00
0.50
3.92
2.18
6.71
5.12

5.79
6.91
7.11
4.00
0.52
3.88
2.08
6.69
5.23

5 .78
6 .76
6 .68
4 .00
0 .56
3 .86
1 .99
6 .69
5 .15

5.75
6.09
6.14
3.96
0.56
3.83
2.05
6.68
4.99

5.71
5.74
5.75
5.81
5.79
5.75

5.70
5.72
5.75
5.81
5.77
5.75

5.69
5.69
5.75
5.82
5.80
5.78

5.69
5.71
5.72
5.81
5.78
5.73

5.69
5.71
5.72
5.75
5.66
5.60

Euro-Dollar Deposit Rates

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

8-Nov-95

Selected Euro-dollar & U.£

Money Market Rates

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

5.71
5.72
-0.01

5.70
5.71
-0.01

5.69
5.76
-0.07

5.69
5.76
-0.07

5.69
5.71
-0.02

5.81
5.79
0.03

5.81
5.78
0.03

5.82
5.79
0.03

5.81
5.78
0.03

5.75
5.75
0.01

5.81
5.81
0.01

5.81
5.84
-0.02

5.82
5.88
-0.07

5.81
5.89
-0.08

5.75
5.87
-0.12

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

5.82
6.01
-0.19

5.81
5.94
-0.12

5.81
5.80
0.01

5.82
5.99
-0.17

5.75
5.92
-0.17

Euro-dollar deposit
Interbank DM (Frankfurt), covered
Differential

5.81
5.89
-0.08

5.81
5.82
-0.01

5.82
5.86
-0.05

5.81
5.83
-0.01

5.75
5.77
-0.02

Euro-dollar deposit
Swiss interbank, covered
Differential

5.81
5.92
-0.11

5.81
5.90
-0.08

5.82
5.89
-0.07

5.81
5.94
-0.13

5.75
5.88
-0.12

7 .62
7 .53
6 .55
2 .88
4 .02
6 .63
8 .11
5 .99

7 .87
7 .53
6 .50
2 .97
3 .99
6 .58
8 .13
6 .02

7 .75
7 .36
6 .47
2 .94
3 .95
6 .51
8 .00
6 .03

7 .57
.
7,.20
6..40
2..94
3,.81
6..48
7..84
5. 95

Canada
149 .11
149 .59
144 .34
148 .39
France
140 .98
140 .00
138 .31
140 .32
Germany
117 .60
118 .89
116 .72
117 .21
Japan
107 .91
107 .75
108 .41
106 .31
Netherlands
163 .91
163 .69
162 .45
163 .37
Switzerland
249 .41
252 .57
248 .57
251 .23
United Kingdom
198 .79
204 .55
200 .35
200 .06
United States
228 .27
231 .04
228 .41
228 .64
Indices (in order, rebased to 1986=1„,
e|
at 22dec93, FA2 Aktien, Tokyo SB (Topix), CBS All-General, Swiss Bank Index,
Financial Times Ordinary, NYSE Composite

152. 51
144 .20
117. 52
107. 97
161. 58
251. 97
200. 68
231. 97

3-month Euro-dollar deposit
U.S. 90-day CD's, secondary market
Differential
Chart 8.

Interest Arbitrage, 3-Month Funds

Euro-dollar deposit
Interbank sterling (London), covered
Differential

Chart 9.

Long Term Government Bellwether Bond Yields
10-year maturity, where available

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

7 .66
7 .58
6 .59
2 .87
4 .05
6 .65
8 .09
6 .07

Stock Indices (Wednesday figures)
.)




FEDERAL RESERVE statistical release
H.10(512)

November 13, 1995

FOREIGN EXCHANGE RATES
FOR THE WEEK ENDING

NOVEMBER 10, 1995

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
*EURO COMMUNITY
FINLAND
FRANCE
GERMANY
GREECE
HONG KONG
INDIA
^IRELAND
ITALY
JAPAN
MALAYSIA
MEXICO
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
PESO
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. 9
Nov. 8
Nov. 7

0.7530
9.950
29.090
1.3515
8.3347
5.4795
1.2961
4.2610
4.9010
1.4140
233.67
7.7320
34.770
1.6140
1594.25
103.20
2.5410
7.3500
1.5843
0.6550
6.2500
148.76
1.4098
3.6415
771.70
121.900
53.000
6.6915
1.1392
27.210
25.220
1.5793

0.7528
9.974
29.150
1.3590
8.3349
5.4910
1.2953
4.2585
4.8880
1.4176
234.25
7.7330
34.610
1.6150
1593.25
103.18
2.5420
7.5100
1.5879
0.6540
6.2505
149.00
1.4135
3.6410
772.00
122.170
52.950
6.6855
1.1395
27.220
25.200
1.5778

0.7503
9.975
29.150
1.3575
8.3348
5.4935
1.2960
4.2565
4.8810
1.4175
233.77
7.7340
34.350
1.6155
1586.00
102.50
2.5350
7.7700
1.5877
0.6530
6.2500
148.97
1.4146
3.6888
770.30
122.150
53.200
6.6755
1.1435
27.220
25.170
1.5805

0.7358
9.936
29.050
1.3560
8.3346
5.4795
1.2972
4.2480
4.8700
1.4120
232.70
7.7340
34.530
1.6150
1593.75
100.75
2.5320
8.0500
1.5813
0.6515
6.2305
148.22
1.4120
3.6370
769.50
121.700
53.200
6.6675
1.1387
27.220
25.160
1.5794

84.16

84.25

84.10

83.78

Nov. 10

H
O
L
I
D
A
Y

•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 1976. 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.
THIS RELEASE IS AVAILABLE ONLINE THROUGH THE FACILITIES OF THE DEPARTMENT OF COMMERCE'S
ECONOMIC BULLETIN BOARD. FOR INFORMATION, CALL (202) 482-1986.
FOR INFORMATION ABOUT YOUR SUBSCRIPTION TO THIS RELEASE OR ABOUT RECEIVING IT IN DOCUMENT
FORM, PLEASE CALL PUBLICATIONS SERVICES AT THE FEDERAL RESERVE BOARD AT (202) 452-3244.