Full text of H.13 Selected Interest and Exchange Rates, Weekly Series of Charts : November 6, 1995

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Selected Interest &
Exchange Rates
Weekly Series of Charts

November 6, 1995

DIVISION OF
INTERNATIONAL FINANCE

Prepared by the
FINANCIAL MARKETS

BOARD OF GOVERNORS
FEDERAL RESERVE SYSTEM
Washington, D C. 20551

SECTION




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
150

RATIO SCALE
MARCH 1973=100

120

FOREIGN CURRENCY
PRICE OF U.S. DOLLAR

100

BELGIAN FRANC

130

110

80

i

60

i

i

« i

i

i

» •

•

i

•

•

i

I

I

I

I

I I

I

I

1

I I

I

I

I I

300

JAPANESE YEN

90
390
330

SWISS FRANC

260

270

220

180
100

210

I

I I I

1 •

'

I

'

'

'

I '

» I

I

'

I I I '

•

I

'

'

'

1 •

•

150
105

CANADIAN DOLLAR
80

85

U.K. POUND

65

60

40
195

•

i

i

I

i

i

'

I

'

'

» I

i

i

i

I

I

I I

1 I

I

I

I

I

I 1

I 1

195

175

155

135
115

45
215

GERMAN MARK

DUTCH GUILDER

175

I

•

i

» I

i

i

i

l

» i

i

l

i

i

i

i

i

i

i

» i

r i

i

i

i

i

i

i

ITALIAN LIRA

FRENCH FRANC

95

i

155
75
55

35
75

55

•

» i




I > i
1993

i

I

i

i

'

l

i

i
1995

'

I

1

1

I •

'
1993

» I

1

'

1

I I

1

1

15
1995

CHART 2

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

PERCENT PER ANNUM

U.K. POUND

GERMAN MARK

8
2

8
JAPANESE YEN

CANADIAN DOLLAR

+
0
2

4

2

6
6
SWISS FRANC

DUTCH GUILDER

FRENCH FRANC

ITALIAN LIRA

4

2

+
0
2
4

6
2
+

0

2
4

6
8
10
18

12




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

—

380

--

360

—

340

—

320

—

400

—

380

—

360

—

340

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

NETHERLANDS

GERMANY

FRANCE

CANADA

UNITED KINGDOM

1

»

1

i




» •
1993

1

i

1

•

'

i

»

1

1995

»
1993

1995

CHART 5

3-MONTH INTEREST RATES
WEEKLY SERIES
PERCENT PER ANNUM

PERCENT PER ANNUM

9

10
CANADIAN FINANCE PAPER
WEIGHTED AVERAGE
FOREIGN RATE

U.S. CD'S

U.K. INTERBANK STERLING

FRENCH INTERBANK RATE

JAPANESE CD RATE

GERMAN INTERBANK RATE

SWISS INTERBANK

1

•

» l




1

i
1993

i

I «

1

'

I

1

1

1995

»
1993

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

I I I I I I I I I I I I » I I

7-DAY

6-MONTH

6

4

2
8

•

i

i

1 i

i

» I i

• i

I i

i

i

1-YEAR

1-MONTH
6

4

2

I I I I I I




1993

1

1

1

I

1

I I I I
1995

'

1

1

I I I '
1993

i

1

1

1

I

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

3-MONTH

OVERNIGHT
IB, i

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

l

l

'

J

DIFFERENTIAL
IL .A

y V \f¥

'

Ii




'

l

i

I
1993

I

I

I

I

I

I

I

DIFFERENTIAL

\i/L

I

I

I

I

I
1

V

.1 ^

\ r f v Y

I

I
1995

i

i.i*iAn,.Al.iVy./"'Ar»l0.,

n .,Viyi—V V

J—I—I—I—I—I
1993

I

I

*» i/Vv«A»»

I

I

I

I

I

I
1995

L

CHART 8

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

PERCENT PER ANNUM

6

—

5

—

7
CANADIAN FINANCE
CO. PAPER, COVERED

INTERBANK STERLING
COVERED LONDON

U.S. COMMERCIAL PAPER A IC
DASHED LINE

EURO-DOLLAR DEPOSITS
DASHED LINE

3

—

•

i

•

I

i

'

i

1 i

•

i

l

i

i

i
DIFFERENTIAL

DIFFERENTIAL

1

I » I I

6

——

5

—

•

I '

I •

'

I I I '

'

I N T E R B A N K DM
COVERED FRANKFURT

1

'

1




I

1

1

1

1993

i

I i

i

i

l

i

i

i

l

i

i

i

^URO-DOLLAR DEPOSITS
DASHED

DASHED LINE

DIFFERENTIAL

DIFFERENTIAL

11

i

SWISS INTERBANK (SF) COVERED

EURO-DOLLAR DEPOSITS
x

i

I

1

1

1

I '

I

1

1995

I

I I I I I I I
1993

'

I •

I • 1 '
1995

11

CHART 9

LONG-TERM GOVERNMENT BOND YIELDS
WEEKLY SERIES
PERCENT PER ANNUM

PERCENT PER ANNUM
9

11

UNITED KINGDOM

FRANCE

CANADA

JAPAN

SWITZERLAND

GERMANY

NETHERLANDS

•

1

•

i




1

•
1993

•

i

1

1

•

i

'

•
1995

•
1993

1995

CHART 10

STOCK INDICES
WEEKLY SERIES
RATIO SCALE
1986=100
250

RATIO SCALE
1986=100

220
UNITED KINGDOM

UNITED STATES
230

200

210

180

190

160

170

140

150
170

120

150

170

JAPAN

GERMANY

150

130

130

110

110

190

210
CANADA

FRANCE
190

170

170

150

150

130

130

110

110

90
190

300

260

NETHERLANDS

SWITZERLAND

170

220

150

180

130

140

110

100




1993

1995

1993

1995

4-Oct-95
Chart 1.

11-Oct-95 18-Oct-95 25-Oct-95 l-Nov-95

Spot Exchange Rates and Indices

Noon buying rates (U.S. cents, weekly averages)
3.3981
74.679
20.257
69.910
0.06197
0.99521
62.423
86.765
158.53

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

133 .90
74 .43
91 .28
196 .66
35 .57
260 .58
179 .20
279 .13
64 .12

134 .53
74 .65
90 .68
197 .50
35 .67
260 .12
179 .90
279 .86
63 .86

.67
134 .
.49
74 .
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
.82
63 ,

118 .83
63. 00
77. 28
192. 67
28. 35
251. 46
162 .72
54. 72
250. 56
52. 36
84 .31

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

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

CO
o

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

383..84

382 .24

382 .45

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

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 Rates

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

118,.80
.20
63 ,
77 .27
192 .39
28 .24
251 .17
162 .45
54 .45
251 .28
52 .61
84 .39

Premium or Discount
-0.51
-0.34
1.86
-4.63
5.81
2.01
3.51
-0.78

-0 .47
-1 .09
1 .89
-4 .71
5 .82
2 .00
3 .68
-0 .84

Fixing
Gold Price in London, Afternoon Fixing

U.S. dollars per fine ounce
Chart 4.

118.26
63.02
77.87
191.50
28.16
251.79
161.85
54.52
250.71
52.86
84.44

383.09

384

Call Money Rates

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




6.00
5.75
6.19
5.55
4.16
0.49
3.78
2.46
6.70

4 -Oct-!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 .80
6 .53
6 .17
4 .00
0 .49
3 .85
2 .36
6 .69
5 .08

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
5 .75
5 .75
5 .82
5 .82
5 .84

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

Euro-Dollar Deposit Rates

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

11 -Oct -95 18-Oct -95 25-Oct -95 1 -Nov-!95

Selected Euro-dollar & U.S. Money Market Rates
5 .75
6 .00
-0 .25

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 .82
5 .80
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

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

5 .82
5 .90
-0 .08

5 .81
5 .81
0 .01

5 .81
5 .84
-0 .02

5 .82
5 .88
-0 .07

5 .81
5 .89
-0 .08

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

5 .81
6 .01
-0 .20

5 .82
6 .01
-0 .19

5 .81
5 .94
-0 .12

5 .81
5 .80
0 .01

5 .82
5 .99
-0 .17

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

5 .82
5 .88
-0 .06

5 .81
5 .89
-0 .08

5 .81
5 .82
-0 .01

5 .82
5 .86
-0 .05

5 .81
5 .83
-0 .01

Euro-dollar deposit
Swiss interbank, covered
Differential

5 .82
5 .90
-0 .08

5 .81
5 .92
-0 .11

5 .81
5 .90
-0 .08

5 .82
5 .89
-0 .07

5 .81
5 .94
-0 .13

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

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

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.

Chart 9.

Interest Arbitrage, 3-Month Funds

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

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

7 .78
7 .49
6 .61
2 .78
4 .16
6 .65
8 .07
6 .17

Stock Indices (Wednesday figures)

Canada
149 .11
149 .71
149 .59
144 .34
France
140 .98
140 .00
142 .08
138 .31
Germany
117 .60
118 .89
121 .55
116 .72
Japan
107 .91
107 .75
109 .79
108 .41
Netherlands
163 .91
163 .69
165 .75
162 .45
Switzerland
249 .41
252 .57
248 .57
247 .71
United Kingdom
198 .79
204 .55
200 .35
203 .84
228 .27
231 .04
United States
228 .41
229 .17
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




148 .39
ND
117 .21
106 .31
163 .37
251 .23
200 .06
227 .60
to SBF250

FEDERAL RESERVE statistical release
H.10(512)

November 6, 1995

FOREIGN EXCHANGE RATES
FOR THE WEEK ENDING

NOVEMBER 3, 1995

The Board of Governors of the Federal Reserve System is advised that the Federal Reserve Sank 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
MEXICO
NETHERLANDS
*NEW ZEALAND
NORWAY
PORTUGAL
SINGAPORE
SOUTH AFRICA
SOUTH KOREA
SPAIN
SRI LANKA
SWEDEN
SWITZERLAND
TAIWAN
THAILAND
*UNITED KINGDOM
MEMO:
"(UNITED STATES

MONETARY
UNIT

Oct. 30

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

0:7610
9.882
28.890
1.3620
8.3349
5.4505
1.3071
4.2495
4.8830
1.4040
231.46
7.7320
34.900
1.6190
1595.38
101.65
2.5430
6.9200
1.5739
0.6600
6.2145
148.14
1.4155
3.6470
765.40
121.920
52.600
6.6255
1.1340
27.000
25.150
1.5775

DOLLAR

83.77

(CURRENCY UNITS PER DOLLAR)
Oct. 31
Nov. 1
Nov. 2
0.7615
9.907
28.960
1.3401
8.3349
5.4645
1.3045
4.2530
4.8860
1.4074
232.05
7.7319
34.300
1.6170
1593.13
!
1 102.26
2.5412
7.1500
1.5785
0.6600
6.2295
148.42
1.4131
3.6480
765.20
122.030
52.750
6.6470
1.1360
26.990
25.170
1.5807
83.78

0.7603
9.959
29.100
1.3478
8.3346
5.4875
1.2990
4.2735
4.9170
1.4150
233.10
7.7322
34.600
1.6135
1593.73
103.07
2.5463
7.3300
1.5858
0.6550
6.2385
149.16
1.4175
3.6485
766.10
122.670
52.750
6.6240
1.1395
27.090
25.210
1.5778
84.15

0.7585
9.979
29.170
1.3428
8.3348
5.4935
1.2947
4.2790
4.9000
1.4180
233.83
7.7322
34.500
1.6150
1599.25
103.59
2.5449
7.3100
1.5890
0.6560
6.2585
149.01
1.4158
3.6465
770.00
122.470
53.050
6.6540
1.1415
27.190
25.250
1.5813
84.23

Nov. 3
0.7580
9.959
29.100
1.3477
8.3347
5.4815
1.2944
4.3815
4.8875
1.4151
233.46
7.7330
34.700
1.6150
1586.99
103.88
2.5454
7.6600
1.5856
0.6545
6.2450
148.48
1.4120
3.6465
771.70
121.990
53.500
6.6400
1.1375
27.240
25.240
1.5805
84.13

"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 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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