Full text of H.13 Selected Interest and Exchange Rates, Weekly Series of Charts : November 27, 1995

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Selected Interest &
Exchange Rates
Weekly Series of Charts

November 27, 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
RATIO SCALE
MARCH 1973=100

120

RATIO SCALE
MARCH 1973=100
150

FOREIGN CURRENCY
PRICE OF U.S. DOLLAR

100

BELGIAN FRANC
130

80

110

I I I I I I I I I

'

'

I I '

I

JAPANESE YEN

SWISS FRANC

90
390
330
270

210

'

•

i

I '

i

i

I i

'

i

I i

i

i

I

I I

I

I

I

I

I

I

I

I

I

I

I I

CANADIAN DOLLAR

80

85

U.K. POUND

60

40
195

65

i

i

i

l

i

i

'

I

i

i

i

l

i

i

i

I

I

I

I I

I

I

I

I

I

I I

I I

'

45
215

GERMAN MARK

DUTCH GUILDER

175

195

155

135
115

150
105

175

i

i

i

l

i

i

i

I

'

'

i

I

'

i

'

•

i

i

i

i I

ii

i

I

• •

i

ITALIAN LIRA

FRENCH FRANC

95

I <

155
75
55

35
75

55

I

'

I




I

I I
1993

'

I

'

I I I '

I i
1995

I

I '

I I '
1993

I I I I I I '

I •
1995

15

CHART 2

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

PERCENT PER ANNUM

2
U.K. POUND

0

JAPANESE YEN

SWISS FRANC

DUTCH GUILDER

FRENCH FRANC

ITALIAN LIRA

W-\

\

+

CANADIAN DOLLAR

2
A

J

1 1 l<

4

6
8
10
12

1

1

1

I




1

1
1993

1 1

1

1

1

1

1 1
1995

1
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

j

i
1991




i

i
1992

i

L £ i

i — i — L
1993

•
1994

•

l

320
1995

CHART 4

CALL MONEY RATES
WEEKLY SERIES
PERCENT PER ANNUM

PERCENT PER ANNUM
7

10

SWITZERLAND
U.S. FEDERAL FUNDS

JAPAN

NETHERLANDS

GERMANY

FRANCE

CANADA

UNITED KINGDOM

•

»

i

i




i

i

1993

i

i

i

i

i

i

•

i

1995

1993

1995

CHART 5

3-MONTH INTEREST RATES
WEEKLY SERIES
PERCENT PER ANNUM
9

PERCENT PER ANNUM
10

CANADIAN FINANCE PAPER
WEIGHTED AVERAGE
FOREIGN RATE

NETHERLANDS INTERBANK RATE

U.K. INTERBANK STERLING

FRENCH INTERBANK RATE

JAPANESE CD RATE

GERMAN INTERBANK RATE

SWISS INTERBANK

•

i




i

I

'

i

1993

i

I

i

i

i

I

i

i

1995

1993

1995

CHART 6

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

PERCENT PER ANNUM

8

8
3-MONTH

OVERNIGHT




7-DAY

6-MONTH

1-YEAR

1-MONTH

1993

1995

1993

1995

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

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

I

I

I

I

I

I

I

I

I

I

DIFFERENTIAL

I




I

I

I

I
I
1993

I

I

I

I

I

I

I

L

DIFFERENTIAL

'v

vy"

J

I

I

I

l__JL

J—I
1995

I—I

I

I
I
1993

I

•»riin

»** t

I

I

i

I

i

i
i
1995

CHART 8

INTEREST ARBITRAGE: 3-MONTH FUNDS
DIFFERENTIAL: PLUS(+), INDICATES FAVOR DOLLAR ASSETS
AVERAGES FOR WEEK ENDING WEDNESDAY
PERCENT PER ANNUM
7

PERCENT PER ANNUM
7

CANADIAN FINANCE
CO. PAPER, COVERED

INTERBANK STERLING
COVERED LONDON

U.S. COMMERCIAL PAPER
DASHED

EURO-DOLLAR DEPOSITS
DASHED LINE

'

I I I

'

'

'

I I I I I I 1 I
DIFFERENTIAL

DIFFERENTIAL

v'"V^ ' W H ' ' V - v w V V v

1

'

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I

i

i

i

I

i

i

i

I i

i

i

'

'

I I

I '

I I

I I I I I I I

INTERBANK DM
SWISS INTERBANK (SF) COVERED

COVERED FRANKFURT

5 —
EURO-DOLLAR DEPOSITS
•A

^URO-DOLLAR DEPOSITS

DASHED LINE

I

I

I

DASHED LINE

I

I I I I I

'

'

I

'




I '

I '
1993

I I I I

I I I I I I

DIFFERENTIAL

DIFFERENTIAL

I

I I •

I I I I I '

I I
1995

•

i

i

I

i

' •

1993

l

i

i

i

I i

i

1995

CHART 9

LONG-TERM GOVERNMENT BOND YIELDS
WEEKLY SERIES
RCENT PER ANNUM

PERCENT PER ANNl

9

11

UNITED STATES

UNITED KINGDOM
10

8

9
7
8
6

7

5
10

6
10
FRANCE

CANADA

9

9

8
8
7
7

6
8

6
I

I

I

I

I

I

I

1

'

I

I

1

»

I I

•

» i

SWITZERLAND

I i

» i

I i

» » i

•

•

»

5
6

JAPAN

7

5

6
4
5
3

4
3
9

'

I I

1 '

I '

I

I I

I I I I I

NETHERLANDS

1

1

1

I

1

'

1

1

I I '

I

1

1

2
9

GERMANY

8

8

7

7

6

6

5

I

I I




I

I I I
1993

I

I I I I I I
1995

•

'

i

l

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1993

i

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i I

i i i
1995

5

CHART 10

STOCK INDICES
WEEKLY SERIES
RATIO SCALE
1986=100

RATIO SCALE
1986=100
250

220
UNITED KINGDOM

UNITED STATES

200

230

180

210

160

190

140

170

150
170
150

•

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•

•

I » •

i

l

•

i

'

I

I

I I

I

•

•

I

•

•

'

1

•

120
170

JAPAN

GERMANY

150

130

130

110

110

90

90

I '

'

I

1

I

1

I

1

1

1

I

1

1

1

i

i

i

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i

i

I

i i i

CANADA

FRANCE

70
190
170
150
130

110

•

i

'

i

i

» •

i

•

•

•

I •

•

i

NETHERLANDS

SWITZERLAND

90
190
170
150
130

110

100




I
1993

1995

I

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I

I

1993

I

I

I

I

I

I

I I I
1995

90

25-Oct-95 1-Nov-95
Chart 1.

15-Nov-95 22-Nov-95

Spot Exchange Rates and Indices

Noon buying rates

(U.S. cents, weekly averages)

Belgian franc
Canadian dollar
I French franc
1
German mark
Italian lira
Japanese yen
Netherlands guilder
Swiss franc
U.K. pound
I

8-Nov-95

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

3.4383
73.912
20.506
70.730
0.06269
0.98678
63.146
87.742
156.28

3.4515
73.929
20.585
71.011
0.06285
0.98542
63.400
87.855
155.40

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

135 .49
73 .67
92 ,
.41
198,.97
35..98
258..37
181..28
282 .
.28
63 .
.21

136 .01
73 .68
92 .76
199,.76
36..08
258..01
182 .
.01
282 .
.64
62 .
.85

119 .27
62 .22
78 .41
193 .30
28 .49
243 .56
163 .14
56 .85
252 .91
52 .51
84 .17

119 .24
62 .06
78 .60
193 .28
28 .39
248 .30
163 .17
56 .54
252 .59
51 .81
84 .02

119 .50
61 .96
78 .78
193 .80
28 .42
247 .43
163 .57
57 .69
252 .47
51 .39
83 .83

-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

-0 .14
-0 .18
1 .88
-4 .78
,
5 .70
,
2 .02
3.
.88
-0..81

-0 .14
0 .23
1 .87
-4 .69
,
5,.68
2.
.07
3.
.86
-0..82

382.24

382. 45

383..28

386. 77

385.,70

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

5. 74
5. 69
5. 87
5. 75
3. 90
0. 43
3. 74
2. 03
6. 49

5. 81
5. 73
5. 89
5. 40
3. 87
0. 44
3. 69
2. 03
6. 85

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.

3-Month Forward Exchange Rate

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

119 .76
61 .68
78 .17
194 .29
28 .33
246 .14
163 .80
57 .08
253 .11
52 .26
83 .84

Premium or Discount
-1.09
-1.38
1.84
-4.97
5.95
2.01
3.80
-0.80

Gold Price in London, Afternoon Fixing

U.S. dollars per fine ounce
* Chart 4.

120.43
61.33
77.72
195.71
27.94
250.12
164.94
56.35
252.71
52.10
83.50

Call Money Rates

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

L




25-Oct-95 1-Nov-95
Chart 5„

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 .74
6 .03
5 .98
,
3 .90
,
0 .54
3 .79
,
1,.99
6 .62
,
4 .94
.

5..73
6..04
.48
5.
3 .90
,
0,.53
3 .69
1 .94
6 .61
4 .85

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

5.
,69
5 . 71
5..70
5..75
5,
.64
.56
5.

,73
5.
.73
5.
.69
5.
5..75
5..60
.54
5.

Euro-Dollar Deposit Rates

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

15-Nov-95 22-Nov-95

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.

8-Nov-95

Selected Euro-dollar & U.S. Mo:

• Market Rates
5.
.69
5..76
-0 .07
.

5 .69
5 .76
-0 .07

5..69
.71
5.
-0 . 02

.69
5.
5 . 74
-0 .05
.

.73
5.
5 . 81
-0..08

5.
.82
.79
5.
0..03

5 .81
5 .78
0. 03

5.
.75
5 .75
.
0..01

.75
5.
.74
5.
0..01

5 .75
.
.73
5.
0..02

.82
5.
5.
.88
-0,.07

5..81
5.
.89
-0..08

5..75
5..87
-0..12

5..75
5..79
-0..04

5..75
5..77
-0..02

5..81
5,.80
0 , .01

5..82
5..99
-0..17

5., 75
5,.92
-0,.17

5,.74
5,.89
-0,.14

5..72
5..90
-0,.18

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

5..82
5 .86
.
- 0 , .05

5,.81
5 .83
,
-0..01

5 .75
.
5 .77
.
-0..02

,
5 .75
5 .80
.
-0 .05

5..75
5.
.79
-0..04

Euro-dollar deposit
Swiss interbank, covered
Differential

5..82
5,.89
-0,.07

5,.81
5 .94
,
-0,.13

,
5 .75
5 .88
,
-0 . 12

5..75
5..89
-0.. 14

.75
5.
5 .82
,
-0,.07

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

7 .61
,
7 .10
,
6 .34
2 .89
3 .69
6 .40
7 .80
5 .98

7 .52
,
6,.97
6..32
2 .92
,
3 .65
.
6..36
7 .72
,
5,.93

Overnight Euro-dollar deposits
U.S. federal funds
Differential
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
U.S. commercial paper
Canadian finance paper, covered
Differential

Chart 9.

Long Term Government Bellwether Bond Yields
10-year maturity, where available
,
7 .87
7 .53
,
6,.50
2 .97
,
3 .99
,
6..58
8 .13
6 .02
,

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

Stock Indices

(Wednesday figures)

Canada
148 ,
144 ,
.34
.39
152 .
.51
151,.97
France
ND
144 .
.20
138 .31
145,.02
Germany
117,.21
.72
117 .
117 ,
116 ,
.52
.62
Japan
106 .31
107 ,
108,.41
.97
106,.74
Netherlands
163 .37
161,.58
163 ,
162 ,
.45
.21
Switzerland
251 .23
251,.97
251,.12
248 .57
United Kingdom
200 .06
200,.68
202 ,
.57
200,.35
United States
228 .64
231,.97
232 ,
228,.41
.65
Indices (in order, rebased to 1986=100) are Toronto Composite, CAC General spliced
at 22dec93, FAZ Aktien, Tokyo SE (Topix), CBS All-General, Swiss Bank Index,
Financial Times Ordinary, NYSE Composite




155 .
.25
145..51
118 ,
.08
109 ,
.27
165,.65
257..63
206,.12
235,.03
to SBF250

*qc cov^y

FEDERAL RESERVE statistical release
H.10(512)

November 27, 1995

FOREIGN EXCHANGE RATES
FOR THE WEEK ENDING

NOVEMBER 24, 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
^AUSTRALIA
AUSTRIA
BELGIUM
CANADA
CHINA,P.R.
DENMARK
*EURO C O M M U N I T Y
FINLAND
FRANCE
GERMANY
GREECE
HONG KONG
INDIA
*1RELAND
ITALY
JAPAN
MALAYSIA
MEXICO
NETHERLANDS
*NEW Z E A L A N D
NORWAY
PORTUGAL
SINGAPORE
SOUTH AFRICA
SOUTH KOREA
SPAIN
SRI LANKA
SWEDEN
SWITZERLAND
TAIWAN
THAILAND
*UNITED KINGDOM
MEMO:
**UNITED S T A T E S

MONETARY
UNIT

Nov. 20

Nov. 21

Nov. 22

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

0.7434
9.924
29.010
1.3515
8.3330
5.4640
1.3001
4.2035
4.8610
1.4100
233.57
7.7335
34.820
1.6005
1593.75
101.35
2.5380
7.7500
1.5792
0.6511
6.2225
147.70
1.4125
3.6515
774.20
121.180
53.450
6.5710
1.1390
27.340
25.130
1.5495

0.7456
9.921
29.000
1.3530
8.3329
5.4610
1.3006
4.2125
4.8655
1.4098
233.54
7.7330
34.820
1.6035
1592.00
101.63
2.5415
7.7300
1.5790
0.6532
6.2255
147.58
1.4125
3.6460
769.20
121.300
53.350
6.5350
1.1389
27.320
25.130
1.5583

0.7411
9.889
28.910
1.3530
8.3328
5.4460
1.3052
4.2025
4.8510
1.4058
232.65
7.7345
34.830
1.6080
1584.00
100.50
2.5410
7.7500
1.5740
0.6525
6.2065
147.04
1.4112
3.6480
768.60
120.420
53.350
6.5045
1.1345
27.340
25.120
1.5650

DOLLAR

83.90

(CURRENCY U N I T S PER D O L L A R )

83.86

83.50

Nov. 23

H

O

L

I

D

A

Y

Nov. 24
0.7400
9.980
29.180
1.3542
8.3322
5.4960
1.2988
4.2315
4.8780
1.4183
234.10
7.7352
34.880
1.6109
1594.00
101.50
2.5425
7.7000
1.5887
0.6513
6.2590
148.44
1.4130
3.6540
768.90
121.360
53.400
6.5250
1.1435
27.310
25.140
1.5600
84.07

LVALUE IS U . S . D O L L A R S
0F

W E I G H T E D A V E R A G E EXCHANGE VALUE OF U.S.

DOLLAR A G A I N S T C U R R E N C I E S OF OTHER G-10

s ' l i i r ^ r s s u s s
W E I G H T E D A V E R A G E E X C H A N G E V A L U E OF THE U.S. D O L L A R : R E V I S I O N " ON PAGE 700 OF THE A U G U S T
1978 F E D E R A L R E S E R V E B U L L E T I N .
T H I S RELEASE IS A V A I L A B L E ONLINE THROUGH THE FACILITIES OF THE D E P A R T M E N T OF C O M M E R C E ' S
ECONOMIC B U L L E T I N B O A R D .
FOR I N F O R M A T I O N , CALL (202) 482-1986.
FOR I N F O R M A T I O N A B O U T YOUR S U B S C R I P T I O N TO T H I S RELEASE OR ABOUT R E C E I V I N G IT IN D O C U M E N T
F O R M , PLEASE CALL P U B L I C A T I O N S S E R V I C E S AT THE FEDERAL RESERVE B O A R D AT (202) 4 5 2 - 3 2 4 4 .