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Weekly Series of Charts
Prepared by the
FINANCIAL MARKETS
SECTION
file
""sS-
Selected Interest &
Exchange Rates
O c t o b e r 13, 1987
M
DIVISION OF
INTERNATIONAL FINANCE
BOARD OF GOVERNORS
FEDERAL RESERVE SYSTEM
Washington, D C. 20551
Table of Contents
*
TABLES
SUBSCRIPTION RATES:
1. LATEST FIGURES PLOTTED
Weekly $ 1 5 . 0 0 per year or $ . 4 0 each in the U n i t e d
2. DAILY CERTIFIED SPOT
EXCHANGE RATES-H.10 RELEASE
States, its possessions, Canada, and Mexico; 10 or
more of the same issue t o one address, $ 1 3 . 5 0 per
year or $ . 3 5 each. Elsewhere, $ 2 0 . 0 0 per year or $ . 5 0
each. Address requests to Publications Services, Divi-
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
sion of A d m i n i s t r a t i v e Services, and make p a y m e n t
remittance payable t o
the order of the Board of
Governors of the Federal Reserve System in a f o r m
collectible at par in U.S. C u r r e n c y .
CHART 1
SPOT EXCHANGE INDICES
DOLLAR PRICES OF FOREIGN CURRENCIES AND WEIGHTED AVERAGE VALUES (THIN LINE)
AVERAGES FOR WEEK ENDING WEDNESDAY
RATIO SCALE
MARCH 1 9 7 3 = 1 0 0
RATIO SCALE
MARCH 1 9 7 3 = 1 0 0
50
45
—
ITALIAN LIRA
FOREIGN CURRENCY
PRICE OF U.S. DOLLAR
-
40
—•
-
35
-
30
-
25
lllllllllll
20
J *
-
v V
v x
> / V
I
I
1 1 1
I
200
180
—
-
JAPANESE YEN
GERMAN MARK
—
—
/"~V/
j
IX
I
-
/"
1
1
1
1
1
1
-
160
-
140
-
120
-
100
lllllllllll
1
80
160
—
140
-
DUTCH GUILDER
CANADIAN DOLLAR
—
120
r\r
—
I
U.K. POUND
80
^
70
—
- v
50
120
/
V
J\f
V^A
—
i
i
i
n
i
—
j S
X
\ A
i
i
60
JifJ
n
i
—
I
I
I
I
l l l l l l l l l l l
l l l l l l l l l l l
1987
50
240
w v v
200
/
)
-
180
-
160
140
J\l
—
I
-
J^KjJ /
—
—
\/
60
40
SWISS FRANC
—
J
I
80
-
i
—
-
I
V
—
—
1985
•
70
—
—
~
BELGIAN FRANC
50
I
^
i
i
90
»
-
lllllllllll
FRENCH FRANC
-
—
~
•
80
"
100
80
-
90
-
-
40
#
l
90
70
/ W v \
60
s
I
I
100
-
—
90
#
I
—
120
Vv/'^
i
M
i
M
1985
i
MIIIIMIII
lllllllllll
1987
100
CHART 2
3-MONTH FORWARD EXCHANGE RATES
PREMIUM (+) OR H
AVERAGES FOR WEEK ENDING WEDNESDAY
PERCENT PER ANNUM
PERCENT PER ANNUM
4
8
JAPANESE YEN
CANADIAN DOLLAR
-J
—
\
-
I
I
I
I
I
I
I
I
I
U. K.POUND
SWISS FRANC
-
I
I
l
I
l
l
l
l
l
ill i l n l i i l n l i i l u l u
DUTCH GUILDER
GERMAN MARK
—
I
I
I
I
I
I
I
I
I
I
I
ITALIAN LIRA
FRENCH FRANC
1985
I
1987
1985
1987
CHART 3
PRICE OF GOLD IN LONDON
AVERAGES FOR WEEK ENDING WEDNESDAY
U.S. DOLLARS PER FINE OUNCE
U.S. DOLLARS PER FINE OUNCE
480
480
460
—
440
-
-
460
440
12.5 Kg BARS
AFTERNOON FIXING PRICE
-
420
420
— 400
400
-
380
-
-
380
360
360
340
-
320
-
300
-
340
-
320
300
280 -
I
260
-
1984
1985
1986
I
I
I
I
I
1987
I
I
I
I
-
280
I
260
CHART 4
CALL MONEY RATES
WEEKLY SERIES
PERC
PERCENT PER ANN
r PER ANNUM
16
FRANCE
U. S. FEDERAL FUNDS
12
-
8
4
JAPAN
11
0
I
I
I
I
I
I
I IIIIIIIIII
16
CANADA
12
GERMANY
8
A
C
16
UNITED KINGDOM
SWITZERLAND
15
I
NETHERLANDS
1985
1987
1985
1987
CHART 5
3-MONTH INTEREST RATES
WEEKLY SERIES
ENT PER ANNUM
PERCENT PER Ah
14
12
CANADIAN FINANCE CO.
PAPER
U . S . CD'S
10
—
8
6
WEIGHTED AVERAGE
FOREIGN RATE
\
4
I
I
I
I
I
1
~
I
16
—
U.K. INTERBANK STERLING
FRENCH INTERBANK RATE
14
-
12
10
8
1
1
1
1
1
i l l ii h i l i i
1
10
8
NETHERLANDS INTERBANK RATE
GERMAN INTERBANK RATE
-
6
4
-
2
1
1
1
1
1
1
ill i i h i l i i
10
8
SWISS INTERBANK RATE
JAPANESE GENSAKI RATE
6
4
2
I I II
1985
1987
1985
1987
CHART 6
EURO-DOLLAR DEPOSIT RATES
LONDON
AVERAGES FOR WEEK ENDING WEDNESDAY
PERCENT PER Af
ENT PER ANNUM
14
OVERNIGHT
3-MONTH
7-DAY
6-MONTH
1-MONTH
1-YEAR
12
10
8
6
4
14
12
10
8
6
4
14
12
10
8
6
4
1985
1987
1985
1987
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
16
14
16
-
14
12
FEDERAL FUNDS
90-DAY CD' S
D A S H E D LINE
DASHED LINE
12
10
8
10
-
OVERNIGHT
3-MONTH
E U R O - D O L L A R DEPOSITS
E U R O - D O L L A R DEPOSITS
11111111111
J
11111111111
DIFFERENTIAL
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
DIFFERENTIAL
¥
u v v
J
i
i
i
i
i
i
v
1 PERCENT ON D I F F E R E N T I A L S C A L E = 2 PERCENT ON RATE S C A L E
|
v .
111111111111 f 11111111111
1985
Y
1987
I
I
I
I
I
1985
I
I I I I I I I I I I I
11111111111
1987
4
CHART :
INTEREST ARBITRAGE: 3-MONTH FUNDS
DIFFERENTIAL: PLUS(+), INDICATES FAVOR DOLLAR ASSETS
AVERAGES FOR WEEK ENDING WEDNESDAY
NT PER ANNUM
PERCENT PER Ah
18
14
CANADIAN FINANCE
CO. PAPER, COVERED
INTERBANK STERLING
COVERED LONDON
10
EURO-DOLLAR DEPOSITS
6
DASHED LINE
U. S. COMMERCIAL PAPER
DASHED LINE
I
2
2
DIFFERENTIAL
I
I
I
I
I
DIFFERENTIAL
+
0
2
18
14
INTERBANK DM
SWISS INTERBANK (SF) COVERED
COVERED FRANKFURT
10
6
EURO-DOLLAR DEPOSITS
EURO-DOLLAR DEPOSITS
DASHED LINE
DASHED LINE
I
2
2
I
I
DIFFERENTIAL
DIFFERENTIAL
+
0
2
M
1985
M i
1987
1 PERCENT ON D I F F E R E N T I A L S C A L E = 2 PERCENT ON RATE S C A L E
1985
1987
CHART 9
LONG-TERM GOVERNMENT BOND YIELDS
WEEKLY SERIES
ENT PER ANNUM
PERCENT PER Al
16
16
UNITED STATES
CANADA
14
-
12
14
12
10
10
8
8
6
I
I
I IIIIIIII II
I
14
6
10
UNITED KINGDOM
12
-
-
JAPAN
-
10
8
6
8
4
-
l
6
l
l
I
I
I
I
I
I
i ill i h i l l i
8
2
10
GERMANY
6
SWITZERLAND
8
4
6
2
4
17
17
U. S. CORPORATE
15
MONTHLY
FRANCE
15
Aaa BONDS
13
13
11
11
NETHERLANDS
MONTHLY
9
9
7
7
5
5
1985
1987
1985
1987
CHART 10
INDUSTRIAL STOCK INDICES
WEEKLY SERIES
RATIO SCALE
1969=100
RATIO SCALE
1969=100
500
500
400
-
400
-
UNITED KINGDOM
300
/
UNITED STATES
200
—
100
-
I
650
—
550
-
450
-
I
n l i i l n l , ,
I
—
nliiliilii
I
I
I
I
I
I
-
f
JAPAN
-
-
-
v-v
-
I
I
I I | I ! |
|
250
I
,
I
I
I
I
150
—
250
/
400
A .
CANADA
300
r V T
200
i
i
i
i
-
SWITZERLAND
-
A
»
/
.
200
—
150
>
! IIIIi Il I[I
I
I
I
I
I
I
I
100
500
400
350
J
-
I
550
450
FRANCE
500
200
100
-
-
150
300
650
yvvVw
350
250
-
500
—
— 400
-
NETHERLANDS
300
200
\r
\f
-
100
—
GERMANY
-
i
i
1985
i
-
300
-
200
100
1987
1985
1987
LAST VALUE PLOTTED
DATE
VALUE
SERIES NAME
CHART 1. SPOT EXCHANGE KATES AND INDICES
MEEKLY AVERAGES, NOON BUYING BATES
{U.S. CENTS)
GERMAN MARK
JAPANESE YEN
DUTCH GUILDER
0. K. POUND
CANADIAN DOLLAR
FRENCH FRANC
SWISS FRANC
BELGIAN F R A N C
ITALIAN LIRA
SWEDISH KRONA
OCT.
OCT.
OCT.
OCT.
OCT.
OCT.
OCT.
OCT.
OCT.
OCT.
7
7
7
7
7
7
7
7
7
7
54. 39
0.68259
48. 33
162. 68
76.52
16.34
65.28
2.61990
0.07536
15.51
OCT.
OCT.
OCT.
OCT.
OCT.
OCT.
OCT.
OCT.
OCT.
7
7
7
7
7
7
7
7
7
153.00
178. 72
138. 75
65.80
76.26
73.62
210.01
103.24
42.81
7
7
7
7
7
7
7
7
7
7
7
98.43
163.84
188.94
140.06
62. 14
73.68
70. 10
211.81
102.06
39.58
66. 92
7
7
7
7
7
7
7
7
-1.34
- 1 . 79
3. 72
-0.05
4. 06
2.68
3.60
-3.97
INDICES, MARCH 1973 BASE BATES = 100
GERMAN MARK
JAPANESE YEN
DUTCH GUILDER
U. K. POUND
CANADIAN DOLLAR
FRENCH FRANC
SWISS FRANC
BELGIAN EaASL
ITALIAN LIRA
WEIGHTED A V E R A G E EXCHANGE VALUE INDICES, MAR 1973 =
(G-10 COUNTRIES PLUS SWITZERLAND)
O.S. DOLLAR
GERMAN MARK
JAPANESE YEN
DUTCH GUILDER
U.K. POUND
CANADIAN DOLLAR
FRENCH FRANC
SWISS FRANC
BELGIAN FRANC
ITALIAN LIRA
SWEDISH KRONA
100
OCT.
OCT.
OCT.
OCT.
OCT.
OCT.
OCT.
OCT.
OCT.
OCT.
OCT.
CHART I. 3-MONTH FORWARD EXCHANGE RATES, PREMIUM OR DISCOUNT
CANADIAN DOLLAR
U.K. POUND
GERMAN MARK
FRENCH FRANC
SWISS FRANC
DUTCH GUILDER
JAPANESE YEN
ITALIAN LIRA
OCT.
OCT.
OCT.
OCT.
OCT.
OCT.
OCT.
OCT.
$
SERIES
NAME
LAST VALUE PLOTTED
DATE
VALUE
CHART 3 . GOLD PRICE IS LOUD OS, AFTERNOON FIXING
U.S. DOLLARS PEE FINE OUNCE
OCT.
7
456.36
OCT.
OCT.
OCT.
OCT.
OCT.
OCT.
OCT.
OCT.
OCT.
7
7
7
7
7
7
7
7
7
7. 43
7.24
9.85
8.85
3.74
3.46
7.50
5.08
1.00
OCT.
OCT.
OCT.
OCT.
OCT.
OCT.
OCT.
OCT.
OCT.
7
7
7
7
7
7
7
7
7
8.07
4.55
3.88
9.47
10. 151
4.00
7.95
5. 54
6.57
OCT.
OCT.
OCT.
OCT.
OCT.
OCT.
7
7
7
7
7
7
7.24
7.35
7.60
8.24
8.41
8.91
7.24
7.43
- 0 . 19
CHART 4. CALL MONEY BATES
U.S. FEDERAL FUNDS
OVERNIGHT EURO-DOLLAR DEPOSITS
0. K.
CANADA
GERMANY
JAPAN
FRANCE
NETHERLANDS
SWITZERLAND
5. 3-MONTH INTEREST RATES
U.S. 90—DAI CD'S, SECONDARY MARKET
GERMAN INTERBANK LOAN
JAPANESE GENSAKI RATE
CANADIAN FINANCE PAPER
INTERBANK STERLING
SWISS INTERBANK LOAN
FRENCH INTERBANK RATE
NETHERLANDS INTERBANK RATE
WEIGHTED AVERAGE FOREIGN INTEREST R A T E
(G-10 COUNTRIES PLUS SWITZERLAND)
CHAST 6. EURO-DOLLAR DEPOSIT RATES: LONDON
OVERNIGHT
7-DAY
1-MONTH
3-MONTH
6-MONTH
1-YEAR
CHART 7. SELECTED EURO-DOLLAR AND U.S. MONEY MARKET R A T E S
OVERNIGHT EURO-DOLLAR DEPOSITS
U. S. FEDERAL FUNDS
DIFFERENTIAL
OCT.
OCT.
OCT.
7
7
7
3-MONTH EURO-DOLLAR DEPOSIT RATE
U.S. 90-DAY CD'S, SECONDARY MARKET
DIFFERENTIAL
OCT.
OCT.
OCT.
7
7
7
8.24
8.0%
0. 17'
SERIES
NAME
LAST VALUE BLOTTED
DATE
VALUE
CHART 8. INTEREST ARBITRAGE, 3-MONTH FUNDS
EURO-DOLLAR DEPOSIT
INTERBANK STERLING (LONDON), COVERED
DIFFERENTIAL
OCT.
OCT.
OCT.
7
7
7
8.24
8.32
- 0 . 08
U.S. COMMERCIAL PAP Ed
CANADIAN FINANCE PAPER, COVERED
DIFFERENTIAL
OCT.
OCT.
OCT.
7
7
7
7. 84
8. 10
— 0. 26
EURO-DOLLAR DEPOSIT
INTERBANK DM (FRANKFURT), COVERED
DIFFERENTIAL
OCT.
OCT.
OCT.
7
7
7
8.24
8. 32
- 0 . 08
EURO-DOLLAR DEPOSIT
SWISS INTERBANK, COVERED
DIFFERENTIAL
OCT.
OCT.
OCT.
7
7
7
8.24
8. 10
0. 14
OCT.
OCT.
SEPT.
AUG.
SEPT.
SEPT.
AUG.
OCT.
2
2
25
21
11
25
9.61
6.29
5.59
4.09
10.95
10.32
6.56
9.69
CHART 9. LONG TERM GOVERMENT BOND YIELDS
UNITED STATES
GERMANY
JAPAN
SWITZERLAND
CANADA
FRANCE
NETHERLANDS (MONTHLY)
UNITED KINGDOM
2
U.S. CORPORATE
AAA BONDS
CHART 10.
MAY
9.33
STOCK INDICES
UNITED STATES
UNITED KINGDOM
CANADA
GERMANY
SWITZERLAND
NETHERLANDS
FRANCE
JAPAN
SEPT.
SEPT.
SEPT.
SEPT.
SEPT.
SEPT.
SEPT.
SEPT.
30
30
30
30
30
30
30
30
348.00
407.54
366.50
274.98
240.74
311.31
412.96
566.54
#EDERAL RESERVE statistical release
OCTOBER
H.101512)
9, 1987
FOREIGN EXCHANGE RATES
FOR THE WEEK ENDING
OCTOBER
9, 1987
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
DOLLAR
•AUSTRALIA
SCHILLING
AUSTRIA
FRANC
BELGIUM
DOLLAR
CANADA
YUAN
CHINA,P.R.
KRONE
DENMARK
MARKKA
FINLAND
FRANC
FRANCE
D. MARK
GERMANY
DRACHMA
GREECE
DOLLAR
HONG KONG
RUPEE
INDIA
POUND
•IRELAND
LIRA
ITALY
YEN
JAPAN
RINGGIT
MALAYSIA
GUILDER
NETHERLANDS
DOLLAR
*NEH ZEALAND
KRONE
NORWAY
ESCUDO
PORTUGAL
DOLLAR
SINGAPORE
RAND
•SOUTH AFRICA
WON
SOUTH KOREA
PESETA
SPAIN
RUPEE
SRI LANKA
KRONA
SWEDEN
FRANC
SWITZERLAND
DOLLAR
TAIWAN
BAHT
THAILAND
•UNITED KINGDOM POUND
MEMO:
fUNITED STATES
DOLLAR
OCT.
5
(CURRENCY UNITS PER DOLLAR)
OCT.
OCT. 7
OCT. 6
8
OCT.
9
71.42
12.975
S8.26D
1.3090
3.7314
7.0930
4.4320
6.1330
1.8427
141.050
7.8102
13.1000
145.50
1330.00
146.85
2.5445
2.0735
64.800
6.7390
145.050
2.1005
48.00
809.70
122.250
30.247
6.4600
1.5355
30.020
25.870
162.38
71.77
12.918
38.090
1.3049
3.7314
7.0560
4.4130
6.1100
1.8355
140.600
7.8085
13.0600
146.20
1324.50
146.71
2.5495
2.0655
65.410
6.7200
144.620
2.0978
48.45
809.80
121.890
30.247
6.4370
1.5307
30.030
25.880
163.20
72.37
12.855
37.920
1.3052
3.7314
7.0220
4.3950
6.0800
1.8260
140.050
7.8085
13.0600
147.00
1317.25
145.65
2.5479
2.0550
66.230
6.6770
144.250
2.0975
48.47
809.80
121.270
30.305
6.4125
1.5240
NA
25.870
164.03
72.35
12.833
37.860
1.3040
3.7314
7.0020
4.3860
6.0690
1.8225
139.850
7.8070
13.0800
147.20
1315.25
144.89
2.5460
2.0515
66.580
6.6665
144.000
2.0980
48.41
809.80
121.120
30.290
6.4020
1.5187
30.030
25.830
164.25
72.44
12.775
37.710
1.3070
3.7314
6.9710
4.3695
6.0430
1.8140
139.450
7.8085
13.0600
147.80
1309.50
143.85
2.5370
2.0420
65.930
6.6400
143.600
2.0950
48.55
809.80
120.600
30.290
6.3780
1.5090
30.030
25.800
165.07
98.63
98.28
97.81
97.60
97.18
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.
*VALUE IS U.S. CENTS
@FedFRASER