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(516/517) Selected Interest & Exchange Rates Weekly Series of Charts October 10,1989 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 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 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 RATIO S MARCH 19711=100 SCALE 11973=100 140 140 FOREIGN CURRENCY PRICE OF U.S. DOLLAR 120 __ BELGIAN FRANC 120 100 MY — 100 90 90 80 80 70 I I I I I I 11111111111 280 70 280 - SWISS FRANC 240 JAPANESE YEN — 240 200 200 180 180 160 160 140 140 120 I I I I I I 120 100 100 - 90 CANADIAN DOLLAR 90 U.K. POUND 80 80 70 70 60 60 J_LLL nluli 50 50 200 200 180 GERMAN MARK DUTCH GUILDER 180 160 160 140 140 120 120 100 100 120 60 - 100 90 - ITALIAN LIRA 50 FRENCH FRANC 45 S 80 A - 40 70 35 60 30 50 I I I I I 1987 I I 1989 I I I I 1987 I 25 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 AxZ" I I I I I I A*X ii li H i l l u I I I I I I MIIIIIIIM I I I SWISS FRANC I I I I I I I NllllMh. HhilMlM DUTCH GUILDER vA I I JAPANESE YEN GERMAN MARK I I I — 11111111111 l l l . l h l h l FRENCH FRANC I I I I I I lllllllllll ITALIAN LIRA 0 4 TT I I I I 11 LI 12 1987 12 1989 1987 1989 CHART 3 PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY U.S.I U.S. DOLLARS PER FINE O l .LARS PER FINE OUNCE 520 520 500 500 12.5 Kg BARS AFTERNOON FIXING PRICE 480 480 460 460 440 440 420 420 400 400 380 380 360 360 340 340 320 320 300 300 1986 1987 1988 1989 CHART 4 CALL MONEY RATES WEEKLY SERIES ENT PER ANNUM PERCENT PER ANN 16 12 16 U.S. FEDERAL FUNDS 12 FRANCE " M 8 .A AA K. 8 JAPAN 4 4 0 I I I I I I 11111111111 0 16 16 CANADA 12 12 GERMANY 8 8 4 4 0 0 I IIllllI III 16 20 UNITED KINGDOM SWITZERLAND 16 12 12 8 8 4 NETHERLANDS 4 0 0 1987 1989 1987 1989 CHART 5 3-MONTH INTEREST RATES WEEKLY SERIES PERCENT PER ANN ENTPER ANNUM 12 12 FRENCH INTERBANK RATE 10 10 U.S. CD'S 8 8 6 6 WEIGHTED AVERAGE FOREIGN RATE 4 4 i_L 2 2 16 16 14 - U.K. INTERBANK STERLING 12 f - 10 12 10 8 — 6 I I I I I 8 6 I 8 6 14 CANADIAN FINANCE CO. PAPER 8 GERMAN INTERBANK RATE SWISS INTERBANK RATE J - 4 6 4 2 - 0 Illllllllll I I I I I 2 0 I 10 10 - 8 NETHERLANDS INTERBANK RATE - 8 JAPANESE GENSAKI RATE 6 6 4 - I 2 1987 1989 I I I I 1987 I MIIIIIIIM 4 2 1989 CHART 6 EURO-DOLLAR DEPOSIT RATES LONDON AVERAGES FOR WEEK ENDING WEDNESDAY :ENT PER ANNUM PERCENT PER AW 14 12 14 OVERNGHT 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 10 12 J - \ ~ 8 8 6 - I 4 10 1987 1989 I I 1987 11111111111 6 4 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 ANNUM PERCENT PER ANNUM 14 14 12 - — 10 f \ 3-MONTH FEDERAL FUNDS EURO-DOLLAR DEPOSITS DASHED LINE y ^ OVERNIGHT - 12 10 A* v 90-DAY CD'S EURO-DOLLAR DEPOSITS DASHED LINE - 11111111111 - i i i I I I 11111111111 11111111111 2 2 DIFFERENTIAL DIFFERENTIAL i i i 1111111111111111111111 1987 1 PERCENT ON DIFFERENTIAL SCALE = 2 PERCENT ON RATE SCALE 1989 I I I I I 1987 I 11111111111 11111111111 1989 CHART8 INTEREST ARBITRAGE: 3-MONTH FUNDS DIFFERENTIAL: PLUSH, INDICATES FAVOR DOLLAR ASSETS AVERAGES FOR WEEK ENDING WEDNESDAY ENT PER ANNUM PERCENT PER ANN 16 16 12 INTERBANK STERLING 12 CANADIAN FINANCE CO. PAPER, COVERED COVERED LONDON 8 8 U.S. COMMERCIAL PAPER DASHED LINE EURO-DOLLAR DEPOSITS 4 DASHED LINE I 0 I I I I I 11 i l l M i i l l i l l i l l U i i l l i l I I I I I 4 n l u l i i l l il n i l i h i l l i 2 2 DIFFERENTIAL DIFFERENTIAL + + 0 2 ^ I I I I I I 0 V UL 11111111111 i i l l i l l i l l i 11 l u l u l u l u l u l u 11 12 INTERBANK DM COVERED FRANKFURT SWISS INTERBANK (SF) COVERED 8 8 4 2 16 16 12 0 EURO-DOLLAR DEPOSITS EURO-DOLLAR DEPOSITS 111iiliiliiI 0 4 DASHED LINE DASHED LINE I I I I I I I I 111 i l l 1 1 1 1 i l i i 1 1 1 1 1 i l l 0 2 2 DIFFERENTIAL DIFFERENTIAL + + 0 0 iiliiiiiliilnliiliilii 2 1987 1989 1 PERCENT ON DIFFERENTIAL SCALE = 2 PERCENT ON RATE SCALE lllllllll 1987 JUL 1989 2 CHART9 LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES PERCENT PER ANNUM PERCENT PER ANNUM UNITED STATES CANADA 14 12 14 UNITED KINGDOM FRANCE SWITZERLAND JAPAN 10 8 6 10 8 6 4 2 10 10 NETHERLANDS 8 GERMANY MONTHLY 6 4 8 - 6 4 I 2 - 1987 1989 I I I I I 1987 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 - - 200 - 150 150 800 GERMANY JAPAN 600 500 400 300 SWITZERLAND r - FRANCE 200 150 100 - I I I I I I LL 200 600 500 400 ' V 300 200 UNITED KINGDOM CANADA I I I I I 1987 I 200 1989 1987 1989 LAST VALUE PLOTTED DATE VALUE S E R I E S NAME CHART 1 . SPOT EXCHANGE RATES AMD I N D I C E S WEEKLY AVERAGES, NOON BUYING RATES (U.S. CENTS) GERMAN MASK JAPANESE YEN DUTCH GUILDER U. K. POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC BELGIAN FRANC I T A L I A N LIRA SWEDISH KRONA INDICES, MARCH 1 9 7 3 BASE BATES = WEIGHTED AVERAGE EXCHANGE VALUE I N D I C E S , ( G - 1 0 COUNTRIES PLUS SWITZERLAND) U. S . DOLLAR GERMAN MARK JAPANESE YEN DUTCH GUILDER U . K . POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC BELGIAN FRANC ITALIAN LIRA SWEDISH KRONA 3-MONTH FORWARD EXCHANGE R A T E S , CANADIAN DOLLAR U . K . POUND GERMAN MARK FRENCH FRANC SWISS FRANC DUTCH GUILDER JAPANESE YEN I T A L I A N LIRA 4 4 4 4 4 4 4 4 4 4 53.23 0.71 4 7 . 1o 100.99 84.91 1 5 . 70 6 1 . 47 2 . 5J OCT. OCT. OCT. OCT. OCT. OCT. OCT. OCT. OCT. 4 4 4 4 4 4 4 4 4 1 4 9 . 74 16 6 . 6 0 1 3 5 . 44 6 5 . 11 34.63 7 0 . 73 197. 7o 9 9 . 76 41.47 4 4 4 4 4 4 4 4 4 4 4 98.92 1 bO. 3 b 199.33 137.02 b 1. b7 8 2 . 75 67.30 199.85 9 8 . 84 3 8.40 b 7 . 2b 4 4 4 4 4 4 4 4 -3.06 - 5 . 20 1. 17 -0.52 1.35 1. 0 9 3. 55 - J . 16 0.0/ 1 5 . 52 100 GERMAN MARK JAPANESE YEN DUTCH GUILDER U . K . POUND CANADIAN DOLLAR FRENCH FRANC S W I S S FRANC BELGIAN FRANC I T A L I A N LIRA CHART 2 . OCT. OCT. OCT. OCT. OCT. OCT. OCT. OCT. OCT. OCT. MAR 1 * 7 3 = 100 OCT. OCT. OCT. OCT. OCT. OCT. OCT. OCT. OCT. OCT. OCT. PREMIUM OS DISCOUNT OCT. OCT. OCT. OCT. OCT. OCT. OCT. OCT. L A S T VALUE PLOTTED DATE VALUE S E R I E S NAME CHART 3 . GOLD P R I C E U.S. CHART 4 . I N LONDON, DOLLARS PER AFTERNOON F I X I N G F I N E OUNCE EURO-DOLLAR D E P O S I T R A T E S ; OCT. OCT. OCT. OCT. OCT. OCT. OCT. OCT. OCT. 4 4 4 4 4 4 4 4 4 9.18 9.06 13.57 12.14 7 . 14 5.48 9 . 45 7.28 6.38 OCT. OCT. OCT. OCT. OCT. OCT. OCT. OCT. OCT. 4 4 4 4 4 4 4 4 4 8. 93 7.85 4 . 98 12.32 14.46 7. 60 9.51 7 . 86 9.07 OCT. OCT. OCT. OCT. OCT. OCT. 4 4 4 4 4 4 9.06 a. 94 8.96 9.03 8 . 95 8.94 LONDON OVERNIGHT 7-DAY 1-MONTH 3-MONTH 6-MONTH 1-YEAR CHART 7 . 366.20 3-MONTH I N T E R E S T RATES U. S . SO-DAY C D ' S , SECONDARY MARKET GERMAN INTERBANK LOAN JAPANESE GENSAKI BATE CANADIAN FINANCE PAPER INTERBANK S T E R L I N G SWISS INTERBANK LOAN FRENCH INTERBANK RATE NETHERLANDS INTERBANK RATE WEIGHTED AVERAGE FOREIGN I N T E R E S T RATE ( G - 1 0 COUNTRIES PLUS SWITZERLAND) CHART 6 . 4 CALL MONEY RATES U. S . FEDERAL FUNDS OVERNIGHT EURO-DOLLAR D E P O S I T S U. K. CANADA GERMANY JAPAN FRANCE NETHERLANDS SWITZERLAND CHART 5 . OCT. SELECTED EURO-DOLLAR AND U . S . MONEY MARKET RATES OVERNIGHT EURO-DOLLAR D E P O S I T S U . S . FEDERAL FUNDS DIFFERENTIAL OCT. OCT. OCT. 4 4 4 9. Ob 9. 18 - a . 12 3-MONTH EURO-DOLLAR D E P O S I T RATE U . S . 9 0 - D A Y C D ' S , SECONDARY MARKET DIFFERENTIAL OCT. OCT. OCT. 4 4 4 9. 0 3 d. 9 3 0. 10 LAST VALUE PLOTTED DATE VALUE S E R I E S NAME CHABT 8 . I N T E R E S T A R B I T R A G E , 3—MONTH PONDS EURO-DOLLAR D E P O S I T INTERBANK S T E R L I N G (LONDON), DIFFERENTIAL 0 . S . COMMERCIAL PAPER CANADIAN F I N A N C E P A P E R , DIFFERSNTIAL COVERED COVERED EURO-DOLLAR D E P O S I T INTERBANK DM ( F R A N K F U R T ) , DIFFERENTIAL COVERED EURO-DOLLAR D E P O S I T S i l S S I N T E R B A N K , COVERED DIFFERENTIAL CHART 9 . 9.03 9.07 -0.05 OCT. OCT. OCT. 4 4 4 8.83 9.17 -0.34 OCTOCT. OCT. 4 4 4 9.03 9 . 04 -0.01 OCT. OCT. OCT. 4 4 4 9.03 8 . 97 0 . 05 SEPT. OCT. SEPT. SEPT. SEPT. SEPT. MAY OCT. 29 6 29 29 15 15 8.31 7.18 5 . 12 5.40 9.66 8 . 97 7.37 9.46 6 CORPORATE AAA BONDS CHART 1 0 . 4 4 4 LONG TERM GOVERHENT BOND Y I E L D S UNITED STATES GERMANY JA PAN SWITZERLAND CANADA FRANCE NETHERLANDS (MONTHLY) UNITED KINGDOM U.S. OCT. OCT. OCT. MAY 9.33 STOCK I N D I C E S UNITED STATES UNITED KINGDOM CANADA GERMANY SWITZERLAND NETHERLANDS FRANCE JAPAN OCT. OCT. OCT. OCT. OCT. OCT. OCT. OCT. 4 4 4 4 4 4 4 4 376.09 41-5. 57 3 9 8 . 12 291.87 2 6 7 . 85 36-4.05 553. 53 710.47 FEDERAL RESERVE statistical release H.10(5X2) OCTOBER 6 , 1989 FOREIGN EXCHANGE RATES FOR THE WEEK ENDING OCTOBER 6 , 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 MONETARY UNIT ^AUSTRALIA AUSTRIA BELGIUM CANADA CHINA,P.R. DENMARK FINLAND FRANCE GERMANY GREECE HONG KONG INDIA *1RELAND ITALY JAPAN MALAYSIA 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 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 MEMO: •UNITED STATES DOLLAR OCT. 2 (CURRENCY UNITS PER DOLLAR) OCT. 3 OCT. 4 77.73 13.195 39.360 1.1776 3.7314 7.3090 4.2760 6.3580 1.8750 164.550 7.8030 16.6700 141.95 1371.50 139.48 2.6905 2.1178 58.800 6.9220 158.850 1.9630 2.6950 NA 119.200 40.018 6.4340 1.6245 25.700 25.780 161.78 77.78 13.285 39.650 1.1764 3.7314 7.3600 4.2975 6.4010 1.8865 165.900 7.8020 16.8600 141.25 1380.25 141.13 2.6950 2.1303 58.750 6.9700 159.820 2.9705 1.9705 NA 119.700 40.017 6.4700 1.6255 25.700 25.830 160.55 77.68 13.202 39.400 1.1749 3.7314 7.3165 4.2810 6.3720 1.8780 165.200 7.8030 16.7800 141.75 1373.00 141.05 2.6940 2.1215 57.800 6.9380 159.000 1.9645 2.6870 672.90 119.100 40.017 6.4450 1.6275 25.665 25.860 160.40 98.66 99.29 98.99 OCT. 5 OCT. 6 77.75 13.320 39.600 1.1753 3.7314 7.3520 4.2990 78.23 13.318 39.760 1.1765 3.7314 7.3800 4.3100 6.3900 6.4170 1.8860 165.700 7.8040 16.7700 141.30 1380.00 142.40 2.6900 2.1297 58.200 6.9880 160.050 1.9615 2.7025 673.00 119.850 40.018 6.4850 1.6370 25.665 25.850 161.00 1.8925 166.900 7.8050 16.8000 141.40 1384.50 142.80 2.6960 2.1370 58.880 6.9850 160.380 1.9695 2.7100 673.20 119.950 40.018 6.4800 1.6455 25.660 25.890 160.25 99.36 99.69 SINDEX OF WEIGHTED AVERAGE EXCHANGE VALUE OF U . S . DOLLAR AGAINST CURRENCIES OF OTHER G-10 COUNTRIES. MARCH 1973 = 1 0 0 . 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. •VALUE I S U . S . CENTS
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