Full text of H.13 Selected Interest and Exchange Rates, Weekly Series of Charts : November 19, 1990

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Selected Interest 8f
Exchange Rates
Weekly Series of Charts

November 19,1990

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 INDIES




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
RATIO SCALE
MARCH 1973=100

RATIO SCALE
MARCH 1973=100

140

140

FOREIGN CURRENCY
PRICE OF U.S. DOLLAR

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JAPANESE YEN

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U.K. POUND

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SWISS FRANC

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BELGIAN FRANC

—

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CANADIAN DOLLAR

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GERMAN MARK
DUTCH GUILDER

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ITALIAN LIRA
FRENCH FRANC

1

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1990

CHART 2

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

1—

CANADIAN DOLLAR

PERCENT PER ANNUM
4

U.K. POUND

4 —

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SWISS FRANC

DUTCH GUILDER

FRENCH FRANC

ITALIAN LIRA




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JAPANESE YEN

GERMAN MARK

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1990

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CHART3

PRICE OF GOLD IN LONDON
AVERAGES FOR WEEK ENDING WEDNESDAY
U.S.I DLIARS PER FINE OUNCE
520

U.S. DOLLARS PER FINE Ol
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

1987




1988

1989

1990

320

CHART 4

CALL MONEY RATES
WEEKLY SERIES
PERCENT PER ANNUM
16

12

PERCENT PER ANNUM
16

FRANCE

U.S. FEDERAL FUNDS

JAPAN

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12
CANADA
GERMANY

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UNITED KINGDOM

SWITZERLAND

NETHERLANDS

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CHARTS

3-MONTH INTEREST RATES
WEEKLY SERIES
PERCENT PER ANNUM

PERCENT PER ANNUM

12

10
SWISS INTERBANK RATE

U.S. CD S

WEIGHTED AVERAGE
FOREIGN RATE

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U.K. INTERBANK STERLING
CANADIAN FINANCE CO.
PAPER

—

GERMAN INTERBANK RATE

FRENCH INTERBANK RATE

NETHERLANDS INTERBANK RATE

JAPANESE CD RATE

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CHART6

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

14

3-MONTH

OVERNIGHT

12

10

4
14

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6-MONTH

7-DAY

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4
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1-YEAR

1-MONTH

12

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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 ANNU

:ENT PER ANNUM

14

12

10

OVERNIGHT

3-MONTH

EURO-DOLLAR DEPOSITS

EURO-DOLLAR DEPOSITS

8

6
90-DAY CD'S

FEDERAL FUNDS

DASHED LINE

DASHED LINE

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2
2

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DIFFERENTIAL

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DIFFERENTIAL

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CHART 8

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

PERCENT PER ANNUM

16

16

12

INTERBANK STERLING

CANADIAN FINANCE
CO. PAPER, COVERED

COVERED LONDON

EURO-DOLLAR DEPOSITS

4 —

U.S. COMMERCIAL PAPER

DASHED LINE

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DASHED LINE

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DIFFERENTIAL
J

r \ j —

2 .
16

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V"v - VVi-yJWV

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EURO-DOLLAR DEPOSITS

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DIFFERENTIAL

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AvA.^

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2
16

12

EURO-DOLLAR DEPOSITS

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DASHED LINE

DIFFERENTIAL

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» I

SWISS INTERBANK (SF) COVERED

DASHED LINE

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vLN

INTERBANK DM

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DIFFERENTIAL

COVERED FRANKFURT

—

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1990

CHART 9

LONG-TERM GOVERNMENT BOND YIELDS
WEEKLY SERIES
PERCENT PER ANNl

PI SCENT PER ANNUM

14

14
CANADA

UNITED STATES
12

12

10

10

8

8

6
14

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UNITED KINGDOM

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FRANCE

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10

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10

SWITZERLAND

JAPAN

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NETHERLANDS

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GERMANY

MONTHLY

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CHART 10

STOCK INDICES
WEEKLY SERIES
RATIO SCALE
1986=100

RATIO SCALE
1986=100

200

200
NETHERLANDS

— UNITED STATES

JAPAN

GERMANY

SWITZERLAND

FRANCE

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CANADA

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SERIES
17-0ct-90 24-0ct-9Q 31-0ct-90 7-Nov-90
Chart 1.

14-Nov-90

Spot Exchange R a t e s a n d I n d i c e s

Noon b u y i n g r a t e s ( U . S .

cents, weekly averages)

Belgian franc
Canadian d o l l a r
French f r a n c
German mark
Italian lira
Japanese y e n
Netherlands g u i l d e r
Swiss f r a n c
U . K . pound

3.1945
86.641
19.641
65.798
0.08783
0.78226
58.366
77.999
196.25

3.2140
85.399
19.767
66.166
0.08833
0.79070
58.701
78.400
195.28

3.2062
85.727
19.701
65.954
0.08806
0.77795
58.501
77.864
195.09

3.2531
86.010
19.963
66.975
0.08916
0.77971
59.375
79.482
196.40

3.2731
85.666
20.067
67.481
0.08965
0.77094
59.824
80.029
196.47

I n d i c e s , March 1973 base r a t e s = 100
Belgian franc
Canadian d o l l a r
French f r a n c
German mark
Italian lira
Japanese y e n
Netherlands g u i l d e r
Swiss f r a n c
U . K . pound

125 .88
86 . 3 5
88 . 5 1
185 .09
50 . 4 2
204 . 8 2
167 .56
250 .93
79 .38

Weighted average exchange v a l u e i n d i c e s , Mar.
Belgian franc
Canadian d o l l a r
French f r a n c
German mark
Italian lira
Japanese y e n
Netherlands g u i l d e r
Swedish k r o n a
Swiss f r a n c
U . K . pound
U.S. d o l l a r
C h a r t 2.

.34
.44
.78
.54
.54
.69
.94
.50
.91

128
85
89
188
51
204
170
255
79

.19
.72
.96
.41
.18
.15
.45
.70
.44

128 .98
85 .38
90 .43
189 .83
51 .46
201 .86
171 .74
257 .46
79 .46

109 .77
72 . 1 5
74 . 4 5
175 .96
40 .56
188 . 4 4
148 .99
67 . 1 5
221 . 4 2
65 .56
83 . 1 1

110
71
74
177
40
187
150
67
224
65
82

.47
.75
.84
.42
.73
.13
.01
.26
.19
.43
.22

110 .98
71 .30
75 .13
178 .64
40 .89
184 . 4 1
150 .94
67 .32
225 .37
65 .33
82 .03

.31
.95
.62
.90
.23
.47
.15
.50

-4
-1
-0
-2
-0
-0
-0
-5

.28
.94
.81
.85
.15
.65
.54
.35

126
85
88
185
50
203
167
250
78

1973=100
109 .67
71 .59
74 .45
175 .94
40 .55
191 .19
149 . 0 1
67 . 2 2
222 .23
65 .39
82 .76

- 4 .22
- 1 .79
- 0 .43
- 2 .86
- 0 .01
- 0 .31
0 .06
- 5 .49

-4
-1
-0
-2
-0
-0
-0
-5

-4
-2
-0
-3
-0
-0
-0
-5

.06
.02
.90
.24
.28
.77
.52
.53

00
rO

-4.12
-1.75
-0.42
-2.72
-0.01
-0.34
0.17
-5.32

.71

Gold P r i c e i n London, A f t e r n o o n F i x i n g

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

.65
.12
.07
.13
.70
.03
.52
.22
.98

3 - M o n t h F o r w a r d Exchange R a t e s , Premium o r D i s c o u n t

Canadian d o l l a r
French f r a n c
German mark
Italian lira
Japanese y e n
Netherlands g u i l d e r
Swiss f r a n c
U . K . pound
Chart 3.

109 .27
72 . 9 2
74 .14
175 . 3 2
40 . 4 1
189 .45
148 . 5 1
67 . 0 2
221 .65
65 .94
83 .03

126
85
89
186
50
207
168
252
78

377.54

370 . 0 2

374 . 9 4

379 . 8 1

7.96
7.96
12.35
9.50
8.04
7.58
7.86
6.88
13.89

7 .99
7 .93
12 . 5 3
9 .61
8 .01
7 .74
7 .64
6 .88
13 .96

8 .17
7 .88
12 .08
9 .80
7 .99
7 .82
7 .97
6 .88
13 . 9 3

7 .97
7 .93
12 .28
9 .77
8 .19
7 .84
8 .44
7 .28
14 .50

C a l l Money R a t e s

U.S. f e d e r a l f u n d s
Overnight E u r o - d o l l a r deposits
Canada
France
Germany
Japan
Netherlands
Switzerland
U n i t e d Kingdom




7 .94
7 .80
12 .45
9 .75
8 .09
7 .93
8 .26
7 .38
14 . 3 3

SERIES
D c t - 90 24 - 0 c t - 9 0 3 1 - 0 c t - 9 0 7 - N o v - 9 0
Chart 5.

3-Month I n t e r e s t

Rates

U.S. 9 0 - d a y C D ' s , s e c o n d a r y market
Canadian f i n a n c e paper
French i n t e r b a n k r a t e
German i n t e r b a n k r a t e
J a p a n e s e CD r a t e
Netherlands interbank rate
Swiss i n t e r b a n k r a t e
U.K. i n t e r b a n k 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 r a t e
(G-10 C o u n t r i e s )
Chart 6.

Euro-Dollar

8 . 12
1 2 . 54
9 . 88
8 . 53
8 . 26
8 . 41
7 . 85
1 3 . 74
9 . 96

8.08
12.60
9.79
8.49
8.22
8.38
7.90
13.83
9.97

7.98
12.59
9.88
8.52
8.23
8.35
7.95
13.77
9.97

96
03
08
13
13
14

7.93
8.00
8.04
8.09
8.09
8.09

7.88
7.86
7.88
7.95
7.95
7.96

7.

7.
8.
8.
8.
8.
8.
Selected

Euro-dollar

Overnight Euro-dollar
U.S. f e d e r a l f u n d s
Differential

& U.S.

Mone y M a r k e t

deposits

3-month E u r o - d o l l a r d e p o s i t
U.S. 90-day CD's, s e c o n d a r y market
Differential
Chart 8.

Interest

Arbitrage,

Euro-dollar deposit
Interbank s t e r l i n g (London),
Differential
U.S. commercial paper
Canadian f i n a n c e p a p e r ,
Differential

covered

covered

Euro-dollar deposit
Swiss i n t e r b a n k , c o v e r e d
Differential

93
90
91
95
94
95

7 . 80
7 . 83
7 . 85
7 . 98
7 . 90
7 . 93

7.
7.
7.
7.
7.
7.

Rates

7 . 96
7 . 96
0. 00

7.93
7.99
-0.06

7.88
8.17
-0.29

7 . 93
7 . 97
- 0 . 04

7 . 80
7 . 94
- 0 . 14

8 . 13
8 . 12
0. 01

8.09
8.08
0.01

7.95
7.98
-0.03

7 . 95
7 . 95
- 0 . 00

7 . 98
7 «98
0. 00

8. 13
8, 24
- 0 .. 1 1

8.09
8.15
-0.06

7 .95
8.08
-0.13

7 . 95
8 .04
- 0 .09

7 ..98
7 ..99
- 0 .02

8 .02
8 .30
- 0 .27

8.04
8.24
-0.20

7.89
8.14
-0.25

7 ,.85
8,. 1 1
- 0 , 26

7 .89
8 .22
- 0 .33

8 .13
8 .10
0 .02

8.09
8.05
0.04

7.95
7.89
0.06

7..95
7 ,.85
0 .10

7 ..98
7 ,. 8 1
0 .17

8 .13
8 .02
0 .10

8.09
7.96
0.12

7.95
7.80
0.15

7 .95
7 .70
0 .25

7 .98
7 .72
0 .25

11 .37
11 . 0 4
9 .16
7 .90
6 .61
10 .98
8 .82

11.31
10.85
9.06
7.78
6.55
11.02
8.65

11.15
10.76
9.05
7.69
6.53
10.94
8.66

10 . 9 3
10 . 8 1
9 .06
ND
6 .52
10 .89
8 .55

ND
10 .78
9 .09
ND
6 .60
10 . 9 3
8 .48

104.06
121.95
97.85
139.25
94.01
118.06
127.15
125.41

102.68
117.92
93.11
140.35
92.55
113.93
123.58
122.16

.35
.55
.58
.50
.65
.47
.42
.11

104 . 2 3
116 .79
91 . 2 1
133 .86
90 . 1 1
113 .37
122 . 8 3
128 . 4 1

Long Term G o v e r n m e n t Bond Y i e l d s

Canada
France
Germany
Japan
Switzerland
U n i t e d Kingdom
United States
C h a r t 10.

7 . 98
1 2 . 40
9 . 93
8 . 72
8 . 36
8 . 69
8 . 25
13. 71
1 0 . 10

3 - M o n t h Funds

covered

Euro-dollar deposit
I n t e r b a n k DM ( F r a n k f u r t ) ,
Differential

Chart 9.

7 . 95
1 2 . 53
9 . 88
8 . 68
8 . 26
8 . 58
8 . 25
1 3 . 58
1 0 . 03

D e p o s i t Rates

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

1 4 - N o v - 90

Stock I n d i c e s

Canada
France
Germany
Japan
Netherlands
Switzerland
U n i t e d Kingdom
United States

(Wednesday f i g u r e s ))
100
118
92
132
92
113
124
120

.77
.74
.49
.58
.27
.93
.20
.26

102
117
89
132
90
112
123
123

'

I n d i c e s ( i n o r d e r , r e b a s e d t o 1 9 8 6 = 1 0 0 ) a r e T o r o n t o C o m p o s i t e , CAC G e n e r a l , FAZ A k t i e n ,
T o k y o SE ( T o p i x ) , CBS A l l - G e n e r a l , S w i s s Bank I n d e x , F i n a n c i a l T i m e s O r d i n a r y , NYSE C o m p o s i t e



. - ' o f GOV A /.

' FEDERAL RESERVE statistical release
November 19, 1990

H.10(512)

FOREIGN EXCHANGE RATES
FOR THE KEEK ENDING

NOVEMBER 16, 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
•EURO COMMUNITY
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
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
DOLLAR

Nov. 12

H
0
L
I
D
A
Y

1 CURRENCY UNITS PER DOLLAR)
Nov. 15
Nov. 14
Nov. 13

Nov. 16

0.7725
10.415
30.520
1.1658
4.7339
5.6695
1.3859
3.5475
4.9775
1.4800
152.00
7.7925
18.140
1.8110
1113.50
129.60
2.6995
1.6693
0.6125
5.7790
130.75
1.7115
2.5325
717.90
93.78
40.358
5.5480
1.2537
27.265
25.040
1.9642

0.7707
10.345
30.380
1.1645
4.7339
5.6485
1.3913
3.5510
4.9615
1.4715
151.50
7.7930
18.100
1.8210
1109.00
129.62
2.6985
1.6602
0.6100
5.7560
129.85
1.7135
2.5155
717.30
93.75
40.358
5.5430
1.2460
27.240
25.100
1.9610

0.7720
10.393
30.460
1.1621
4.7339
5.6760
1.3857
3.5525
4.9880
1.4775
151.95
7.7940
18.080
1.8153
1113.50
129.27
2.6955
1.6664
0.6095
5.7850
130.75
1.7115
2.5310
716.80
94.28
40.358
5.5500
1.2522
27.240
25.070
1.9595

0.7695
10.355
30.410
1.1640
N.A.
5.6515
1.3963
3.5545
4.9680
1.4708
150.35
7.7945
18.090
1.8215
1110.50
129.43
2.6965
1.6594
0.6094
5.7630
129.95
1.7120
2.5300
716.50
93.90
40.368
5.5380
1.2440
27.248
25.090
1.9660

81.96

81.72

81.90

81.69

•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. 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.
THIS RELEASE IS NOW AVAILABLE THROUGH THE FACILITIES OF THE DEPARTMENT OF COMMERCE'S
ECONOMIC BULLETIN BOARD. FOR INFORMATION, CALL 1202) 377-1986.