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(516/517) Selected Interest & Exchange Rates Weekly Series of Charts November 20,1989 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 E X C H A N G E RATE INDICES 2. 3 - M O N T H FORWARD EXCHANGE RATES 3. GOLD P R I C E — L O N D O N 4. CALL MONEY RATES 5. 3 - M O N T H INTEREST RATES 6. EURO-DOLLAR DEPOSIT RATES 7. SELECTED EURO-DOLLAR A N D U.S. MONEY MARKET RATES 8. INTEREST ARBITRAGE: 3 - M O N T H FUNDS 9. LONG-TERM G O V E R N M E N T B O N D 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 GALE MARCH 197:1=100 SCALE 41973=100 140 120 140 FOREIGN CURRENCY PRICE OF U.S. DOLLAR BELGIAN FRANC 120 100 100 90 90 80 80 70 70 280 280 240 JAPANESE YEN SWISS FRANC 240 200 200 180 180 160 160 140 140 120 120 100 100 CANADIAN DOLLAR 90 80 ,90 U.K. POUND 80 70 70 60 60 50 50 200 200 180 GERMAN MARK DUTCH GUILDER 180 160 160 140 140 120 120 100 100 120 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 \r~I I I A v * \ i i I i I I I I I I I I I I I I I I I I nli.l.ili. I I I I|II|II|II FRENCH FRANC 4 I DUTCH GUILDER SWISS FRANC I I JAPANESE YEN GERMAN MARK I I - ITALIAN LIRA r - 12 8 12 1987 1989 1987 1989 CHART 3 PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY as. 520 PER FINE OUNCE U.S. DOLLARS PER FINE 520 500 500 12.5 Kg BARS 480 480 AFTERNOON FIXING PRICE 460 460 440 440 420 420 400 400 380 380 360 360 340 340 320 320 300 300 1986 1987 1988 1989 CHART4 CALL MONEY RATES WEEKLY SERIES PERCENT PER AN* PEI £NTPER ANNUM 16 16 12 U.S. FEDERAL FUNDS 12 FRANCE N 8 Aa .i N.. 8 JAPAN 4 4 I 0 I I 1 1 1 0 ill u h i l i i 16 16 CANADA 12 12 8 GERMANY 8 4 4 0 0 16 20 UNITED KINGDOM SWITZERLAND 16 12 12 8 8 4 4 NETHERLANDS 0 0 LUI I I I I I I I 1987 1989 1987 1989 CHART 5 3-MONTH INTEREST RATES WEEKLY SERIES PERCENT PER ANh ENTPER ANNUM 12 12 FRENCH INTERBANK RATE 10 10 U.S. CD'S 8 8 6 6 4 WEIGHTED AVERAGE FOREIGN RATE 4 M i l l 2 2 16 16 14 - U.K. INTERBANK STERLING CANADIAN FINANCE CO. PAPER f 12 - 8 — I 6 I I I I I 8 6 8 8 __ JAPANESE GENSAKI RATE SWISS INTERBANK RATE J - 6 4 4 2 - I I I 0 2 0 10 10 „ 8 6 12 10 10 6 14 NETHERLANDS INTERBANK RATE / - GERMAN INTERBANK RATE 6 4 - I 2 1987 8 1989 I I I I 1987 I 4 2 1989 CHART 6 EURO-DOLLAR DEPOSIT RATES LONDON AVERAGES FOR WEEK ENDING WEDNESDAY PE 14 14 12 OVERNIGHT 3-MONTH 12 10 10 8 8 6 6 4 4 14 14 12 6-MONTH 7-DAY 12 10 10 8 8 6 6 4 4 14 14 12 1-MONTH 1-YEAR 12 10 10 8 8 6 6 4 4 1987 1989 1987 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 AN 14 14 12 12 10 10 3-MONTH FEDERAL FUNDS EURO-DOLLAR DEPOSITS DASHED LINE 8 8 6 6 OVERNIGHT 90-DAY CD'S EURO-DOLLAR DEPOSITS DASHED LINE 4 4 11111111 2 m 11111 I I I I I I I 2 2 2 DIFFERENTIAL DIFFERENTIAL 1 — + 0 + 0 I 1 1 1987 IENTIAL SCALE = 2 PERCENT ON RATE SCALE 1989 I I I I 1987 I I I I I I I ! I I I I II I II I I I I I I 1989 1 CHART 8 INTEREST ARBITRAGE: 3-MONTH FUNDS DIFFERENTIAL: PLUS(+), INDICATES FAVOR DOLLAR ASSETS AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER AW PEf iENT PER ANNUM 16 16 12 12 CANADIAN FINANCE CO. PAPER, COVERED INTERBANK STERLING COVERED LONDON 8 8 EURO-DOLLAR DEPOSITS DASHED LINE 4 0 I I I 11 U.S. COMMERCIAL PAPER DASHED LINE 4 IL 0 lllll 2 2 DIFFERENTIAL DIFFERENTIAL + + 0 0 II II I I III i i l i i l i i l i i 2 11111111 11111111111 16 16 12 12 INTERBANK DM COVERED FRANKFURT SWISS INTERBANK (SF) COVERED 8 8 4 0 I I EURO-DOLLAR DEPOSITS DASHED LINE EURO-DOLLAR DEPOSITS DASHED LINE 4 I l 0 I I I I llllllllllllllllllllllll l l l l llllllllllllllllllllllll 2 2 DIFFERENTIAL DIFFERENTIAL + + 0 0 2 2 I I I iIIIIIIIIIMIIIII I I I'll I I I I III I I I I I'll I I 1987 1989 1 PERCENT ON DIFFERENTIAL SCALE = 2 PERCENT ON RATE SCALE 1987 1989 2 CHART9 LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES PERCENT PER ANI DENT PER ANNUM 14 14 12 „ - UNITED STATES CANADA 12 V 10 XvA" 8 8 11111111! 11 11111111111 1 1 1 6 14 12 __ UNITED KINGDOM - FRANCE 12 V 8 I 6 I I I K v 10 A - v / 8 I I I 6 I 10 10 __ SWITZERLAND JAPAN — 6 - I I I I I I I I I I I I iiliiliilii 4 2 10 10 NETHERLANDS MONTHLY 8 - GERMANY — 6 8 6 4 2 8 6 4 2 6 14 10 8 10 - I I I I 1987 1989 I I M 1987 M 4 2 1989 CHART 10 INDUSTRIAL STOCK INDICES WEEKLY SERIES RATIO SCALE 1969=100 RATIO SCALE 1969=100 600 500 UNITED STATES 400 NETHERLANDS 300 200 I I I I I I llllllll 800 —I JAPAN 600 - - 500 - - 400 - 300 A v / . -J - - I 200 GERMANY I I I I I 11111111111 I I I M I ' I I I I 300 SWITZERLAND 250 FRANCE 200 150 — - - I 100 l I i i l l H i l l 11 M l . l l l l l M 600 — 500 - CANADA 400 UNITED KINGDOM yvw,— — 300 200 - I I I I I 1987 I II l l l l l l l l . ! 1989 1987 1989 LAST VALUE PLOTTED DATE VALUE SERIES NAME CHART 1 . SPOT WEEKLY EXCHANGE BATES AND I N D I C E S AVERAGES, NOON BUYING RATES (U.S. CENTS) GERMAN MARK JAPANESE YEW DUTCH GUILDER U.K. POUND CANADIAN D O L L A R FRENCH FRANC SWISS FRANC BELGIAN FRANC ITALIAN LIRA SWEDISH KRONA INDICES, MARCH 1973 WEIGHTED AVERAGE EXCHANGE VALUE I N D I C E S , ( G - 1 0 COUNTRIES PLUS S f f I T ZE9LAND) U . S . DOLLAR GEaMAN MASK J A P A N E S E YEN DUTCH GUILDER U.K. POUND CANADIAN DOLLAR FRENCH FEANC SWISS FRANC BELGIAN FRANC ITALIAN LIRA SWEDISH KRONA :1 2. 3-MONTH FORWARD EXCHANGE P.ATSS, 15 15 15 15 15 15 15 15 15 15 53.99 0.69690 4 7 . 85 1 5 8 . 11 85.49 1 5 . 91 61.31 2. 5 7 5 1 3 0. 07381 1 5.49 NOV. NOV. NOV. NOV. NOV. NOV. NOV. NOV. NOV. 15 15 15 15 15 15 15 15 15 151.88 182.47 137.36 63.95 8 5 . 20 71.71 197.26 10 1. 47 4 1.93 15 15 15 15 15 15 15 15 8 15 15 98.57 1 6 2 . 64 19 3 . 6 3 13 8 . 7 3 6 0 . 29 8 3.13 6 8 . 16 1 9 8 . 82 100.44 3 8 . 76 6 6 . 95 15 15 15 15 15 15 15 15 - 3 . 63 -6.20 0 . 23 -1.71 0.62 0 . 04 1. 79 - 3 . 89 BASE FATES = 100 GERMAN MARK JAPANESE YEN DUTCH GUILDER U . K . POUND CANADIAN DOLLAR FRENCH FRANC . SWISS FRANC BELGIAN F8AHC I T A L I A N LIRA CANADIAN DOLLAR U . K . POUND GEkMAN MARK FRENCH FRANC SwISS FRANC DUTCH GUILDER JAPANESE YEN I T A L I A N LIRA NO/. NOV. NOV. NOV. NOV. NOV. NOV., NOV. NOV. NOV. MAR 1 9 7 3 = 100 NOV. NOV. NOV. NOV. NOV. NOV. NOV. NOV. NOV. NOV. NOV. PREMIUM Oti DISCOUNT NOV. NOV. NOV. NOV. NOV. NOV. NOV. NOV. LAST VALUE PLOTTED DATE VALOE SERIES NAME CHART 3 . GOLD PRICE I N LONDON, [J. S. CHART 4 . AFTERNOON F I X I N G DOLLARS PER F I N E OUNCE EURO-DOLLAR DEPOSIT RATES: NOV. NOV. NOV. NOV. NOV. NOV. NOV. NOV. NOV. 15 15 15 15 15 15 15 15 15 8. 8. 14. 12. 7. 5. 9. 8. 6. 46 40 80 09 65 84 35 18 38 NOV. NOV. NOV. NOV. NOV. NOV. NOV. NOV. NOV. 15 15 15 15 15 15 15 15 15 8. 8. 5. 12. 14. 7. 10. 8. 9. 38 25 73 37 94 65 25 40 58 NOV. NOV. NOV. NOV. NOV. NOV. 15 15 15 15 15 15 8.40 8.45 8 . 44 8.43 8.24 8.20 LONDON OVERNIGHT 7-DAY 1-MONTH 3-MONTH 6-MONTH 1-Y3AR rjif&tfT 7 . 3 8 8 . 52 3-MONTH INTEREST RATES U . S . 9 0 - D A Y C D ' S , SECONDARY MARKET GERMAN INTERBANK LOAN JAPANESE GSNSAKI RATE CANADIAN FINANCE PAPER INTERBANK STERLING SWISS INTERBANK LOAN FRENCH INTERBANK RATE NETHERLANDS INTERBANK RATE WEIGHTED AVERAGE FOREIGN INTEREST PATE ( G - 1 0 COUNTRIES PLUS SWITZERLAND) CHART 6 . 15 CALL HONEY RATES U . S . FEDERAL FUNDS OVERNIGHT EURO-DOLLAR DEPOSITS U.K. CANADA GERMANY JAPAN FRANCE NETHERLANDS SWITZERLAND CHART 5 . NOV. SELECTED EURO-DOLLAR AND U . S . MONEY MARKET RATES OVERNIGHT EURO-DOLLAR DEPOSITS U . S . FEDERAL FUNDS DIFFERENTIAL NOV. NOV. NOV. 15 15 15 8 . 40 8 . 46 - 0 . 06 3-MONTH EURO-DOLLAR DEPOSIT RATE U . S . 9 0 - D A Y C D ' S , SECONDARY MARKET DIFFERENTIAL NOV. NOV. NOV. 15 15 15 8 . 43 8 . 38 0. 05 LAST VALUE PLOTTED DATE VALDB SERIES NAME CHART 8 . INTEREST ARBITRAGE, 3-MONTH FUNDS EURO-DOLLAR DEPOSIT INTERBANK STERLING (LONDON), DIFFERENTIAL NOV. NOV. NOV. 15 15 15 8 . 43 8. 51 - 0 . 08 U . S . COMMERCIAL PAPER CANADIAN FINANCE PAPER, COVERED DIFFERENTIAL NOV. NOV. NOV. 15 15 15 8 . 34 8 . 62 - 0 . 28 EURO-DOLLAR DEPOSIT INTERBANK DM (FRANKFURT) , DIFFERENTIAL NOV. NOV. NOV. 15 15 15 8 . 43 8.,48 - 0 . 06 NOV. NOV. NOV. 15 15 15 8 . 43 8.,28 0 . 15 NOV. 10 NOV. 17 NOV. 10 NOV. 10 OCT. 2 7 OCT. 27 AUG. NOV. 17 7.92 7 . 64 5.72 5.43 9.46 9.38 7.03 9.51 COVERED COVERED EURO-DOLLAR DEPOSIT SWISS INTERBANK, COVERED DIFFERENTIAL 2HA31 9 . LONG TERM GOVERMEMT BOND Y I E L D S UNITED STATES GERMANY JAPAN SWITZERLAND CA NA DA FRANCE NETHERLANDS (MONTHLY) UNITED KINGDOM U.S. CORPORATE AAA BONDS CHART 1 0 . 9.33 STOCK I N D I C E S UNITED STATES UNITED KINGDOM. CANADA GERMANY SWITZERLAND NETHERLANDS FRANCE JAPAN MAY NOV. NOV. NOV. NOV. NOV. NOV. NOV. NOV. 15 15 15 15 15 15 15 15 358. 387. 393. 273. 245. 338. 514. 72 0 . 64 71 07 23 43 46 79 67 FEDERAL RESERVE statistical release November 20, 1989 H.IOC 512) FOREIGN EXCHANGE RATES FOR THE MEEK ENDING NOVEMBER 17, 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 ^AUSTRALIA AUSTRIA BELGIUM CANADA CHINA,P.R. DENMARK 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: HKJNITED STATES MONETARY UNIT 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 DOLLAR Nov. 13 (CURRENCY UNITS PER DOLLAR) Nov. 14 Nov. 15 Nov. 16 Nov. 17 78.930 13.108 39.050 1.1678 3.7314 7.2300 4.3075 6.3155 1.8620 166.70 7.8145 16.930 142.70 1360.00 143.88 2.7010 2.1008 58.620 6.9575 159.00 1.9620 2.655 674.80 117.70 40.000 6.4850 1.6410 N.A. 25.900 158.00 78.710 13.038 38.720 1.1705 3.7314 7.1855 4.2885 6.2750 1.8485 163.50 7.8145 16.890 143.45 1353.25 143.68 2.7025 2.0863 58.800 6.9410 158.32 1.9635 2.640 675.00 116.97 40.018 6.4500 1.6315 26.060 25.900 158.15 78.340 12.952 38.560 1.1730 3.7314 7.1680 4.2720 6.2495 1.8385 164.95 7.8140 16.920 144.30 1349.50 143.75 2.7020 2.0745 6.912 6.9120 157.90 1.9610 2.626 674.90 116.95 40.018 6.4480 1.6230 26.000 25.870 158.16 78.080 12.920 38.520 1.1698 3.7314. 7.1550 4.2650 6.2485 1.8355 165.07 7.8140 16.900 144.15 1353.25 143.80 2.7050 2.0714 59.100 6.9020 157.80 1.9605 2.630 674.80 118.00 40.018 6.4500 1.6285 25.993 25.890 157.70 78.250 12.463 38.640 1.1697 3.7314 7.1640 4.2760 6.2670 1.8423 165.30 7.8135 16.920 144.10 1354.00 144.40 2.7060 2.0795 58.840 6.9150 158.45 1.9615 2.640 674.90 117.75 40.018 6.4475 1.6320 25.990 25.900 156.75 98.93 98.49 98.23 96.23 98.53 •VALUE IS U.S. CENTS **INDEX OF WEIGHTED AVERAGE EXCHANGE VALUE OF U.S. DOLLAR AGAINST CURRENCIES OF OTHER 6-10 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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