Full text of H.13 Selected Interest and Exchange Rates, Weekly Series of Charts : October 15, 1990

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Selected Interest &
Exchange Rates
Weekly Series of Charts

O c t o b e r 15, 1990

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
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 INDIES




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 SCALE
MARCH 1973=100
140
FOREIGN CURRENCY
130
PRICE OF U.S. DOLLAR
120

RATIO SCALE
MARCH 1973=100
140
130
120

BELGIAN FRANC

110

110

100

100

90

90

80

80

•

70
280
260
240

i

I

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I

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I

I

I

70
280
260
240

JAPANESE YEN

SWISS FRANC

220

220

200

200

180

180

160

160

140

140

120
100

'

'

1 I

I

» '

1 I

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I

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1

I. I

'

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'

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120
100

CANADIAN DOLLAR

90

90

U.K. POUND

80

80

70

70

60

60
50
200

'

I

I

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I

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I

I

1 I

I

I

t

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1

1

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»

1

« I

'

» '

50

200
GERMAN MARK

180

180

DUTCH GUILDER

160

160

140

140

120

120
100
120
110

• «

» I

I

I

I

I

I

i

I

I

I

I

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I

1 I

I

I

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I

1 I

I

»

100
60
55

ITALIAN LIRA

50

100

45

FRENCH FRANC

90
80

40

70

35

60

30

50

'

'

'




I

I

'
1988

1

I

1

1

1

I

1

1

1

1990

I

I

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I
1988

I

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I

I

I

1 I
1990

I

25

CHART 2

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

PERCENT PER ANNUM
4 ,

U.K. POUND

CANADIAN DOLLAR

I

I

I

I

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I

> I

I

I

I

I

I

I

I
JAPANESE YEN

GERMAN MARK

A

—

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I

» »

1

I

i

'

'

i

'

1

1

i

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.

—

/

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I1 1 I

1 1
1 i

i

i

1

•

•

—

DUTCH GUILDER

SWISS FRANC

—

V

Ayr

1

—

1 1 1 1 1 1 1 1

1 i1 l i i 1

1

«

i

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i

« i

1

1

i

1

1

I

1

1

» I

4

FRENCH FRANC

12

•

•

« i

1




ITALIAN LIRA

1

1988

» i

1

1

'

l

1

1

1

1990

1

1

I

I

1988

'

1

I

'

1

•

1990

12

CHART 3

PRICE OF GOLD IN LONDON
AVERAGES FOR WEEK ENDING WEDNESDAY

U.S. DOLLARS PER FINE OUNCE
520

U.S. DOLLARS PER FINE OUNCE
520

500

500

12.5 Kg BARS
AFTERNOON FIXING PRICE

480

480

460

460

440

440

420

420

400

400

380

360

340

340

320




1987

1988

1989

1990

320

CHART 4

CALL MONEY RATES
WEEKLY SERIES
PERCENT PER ANNUM
16

12

PERCENT PER ANNUM

16

12

FRANCE

U.S. FEDERAL FUNDS

JAPAN

0

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16

16

12

12
CANADA
GERMANY

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i

UNITED KINGDOM




i

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i

i

I

i

i

i

I

i

i

i

I

i

SWITZERLAND

NETHERLANDS

1988

1990

1988

1990

CHARTS

3-MONTH INTEREST RATES
WEEKLY SERIES
PERCENT PER ANNUM

PERCENT PER ANNUM
10

12

10

SWISS INTERBANK RATE

U.S. CD'S

WEIGHTED AVERAGE
FOREIGN RATE

i

I

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I

i

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I

i

i

U.K. INTERBANK STERLING

—

i

i

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I

i

'

i

I

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i

'

I

i

i

CANADIAN FINANCE CO
PAPER

GERMAN INTERBANK RATE




i

FRENCH INTERBANK RATE

NETHERLANDS INTERBANK RATE

JAPANESE CD RATE

1988

1990

1988

1990

i

CHARTS

EURO-DOLLAR DEPOSIT RATES LONDON
AVERAGES FOR WEEK ENDING WEDNESDAY
PERCENT PER ANNUM
14

PERCENT PER ANNUM
14

OVERNIGHT

12

3-MONTH

12

10

10

i

4
14

i

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1 1

l

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'

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•

7-DAY

12

'

•

I

•

'

•

I

'

4
14

6-MONTH

12

10

10

i

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'

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•

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l

» •

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i

•

•

•

14

1-MONTH

12

1-YEAR

—

10

4
14

12

10

'

1

'




l

1

1

1988

1

I

1

•

i

I

i

i

i

1990

1

1

1

I

1

1

1

1988

I

1

1

1

i

I

I
1990

I

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
14

PERCENT PER ANNUM
14

12
12

10




OVERNIGHT
EURO-DOLLAR DEPOSITS

FEDERAL FUNDS
DASHED LINE

J

1

10

3-MONTH
EURO-DOLLAR DEPOSITS

90-DAY CD'S
DASHED LINE

1

I

I

I

I

I

1

'

1

1

1

1

1

1

I

I

1

'

•

DIFFERENTIAL
__

J—I—I—I
1988

I

L

I

I

I

•

•
1990

•

DIFFERENTIAL

J—I

I

l__L
1988

J—I—I—I—I—I
1990

L_J 1

CHARTS

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

PERCENT PER ANNUM
16

16

12

INTERBANK STERLING

CANADIAN FINANCE
CO. PAPER, COVERED

COVERED LONDON

EURO-DOLLAR DEPOSITS

U.S. COMMERCIAL PAPER

DASHED LINE

o I
2

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DASHED LINE

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I

I

I

DIFFERENTIAL

I

2

I

» I

I

12

I

I

I

I

I

I

I

I

I

I

I

I

I

'

I

I

i

i

DIFFERENTIAL

I

i

I

I

« I

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I

'

'

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I

16

16

12

INTERBANK DM

EURO-DOLLAR DEPOSITS

EURO-DOLLAR DEPOSITS

DASHED LINE

0'

I

I

I

I

I

12

SWISS INTERBANK (SF) COVERED

COVERED FRANKFURT

DASHED LINE

I

I

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1

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»

1

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I

«

I

I

I

I

I

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2
DIFFERENTIAL

'

1

1




1

8

'
1988

1

DIFFERENTIAL

1

1

1

'

1

1

1

1

1990

t

I

I

I

I

I
1988

I

1990

CHART 9

LONG-TERM GOVERNMENT BOND YIELDS
WEEKLY SERIES
4CENT PER ANNUM

PERCENT PER ANN1

14
UNITED STATES

CANADA

12

10

8

I

6
14

I

I

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I

I

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I

'

UNITED KINGDOM

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FRANCE

12

10

8

6
10

I

I

I

I

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I

SWITZERLAND

i

i

JAPAN

8

6

4

•

2
10

i

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l

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<

NETHERLANDS
MONTHLY

I

I

GERMANY

8

6

4

2

'

'

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1988

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1

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1990

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1988

i

1990

CHART 10

STOCK INDICES
WEEKLY SERIES
RATIO SCALE
1986=100

RATIO SCALE
1986=100

200

200
„

UNITED STATES

NETHERLANDS

JAPAN

GERMANY

SWITZERLAND

FRANCE

UNITED KINGDOM

— CANADA




1988

1990

1988

1990

SERIES
12-Sep-90 19-Sep-90 26-Sep-90 3-0ct-90
Chart 1.
^

10-0ct-90

Spot Exchange Rates and Indices

Noon buying rates (U.S. cents, weekly averages)

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

3.0874
85.946
18.933
63.413
0.08502
0.71648
56.259
76.046
187.40

3.1134
86.156
19.112
64.008
0.08562
0.72885
56.794
77.168
189.61

3.0959
86.791
19.028
63.691
0.08525
0.73038
56.495
76.306
186.78

3.1158
86.664
19.170
64.202
0.08570
0.72823
56.926
77.235
188.40

3.1674
86.874
19.462
65.198
0.08697
0.75970
57.825
78.073
194.90

121.66
85.66
85.32
178.38
48.80
187.60
161.51
244.65
75.80

122. 68
85. 87
86. 12
180. 06
49. 15
190. 84
163. 04
248. 26
76. 69

121.99
86.50
85.75
179.17
48.93
191.24
162.18
245.49
75.55

122 .78
86 .38
86 .38
180 .61
49 .19
190 .68
163 .42
248 .48
76 .20

124 .81
86 .59
87 .70
183 .41
49 .92
198 .91
166 .00
251 .17
78 .83

108.85
75.27
73.81
174.30
40.32
180.97
147.74
67.25
222.97
64.37
86.01

109 .10
74 .82
74 .08
175 .10
40 .37
179 .54
148 .28
67 .29
224 .80
64 .69
85 .55

109 .19
73 .76
74 .03
175 .05
40 .33
184 .97
148 .29
67 .29
223 .68
66 .00
83 .87

-4. 35
-2. 15
-0. 31
-2. 17
-0.20
-0. 35
-0. 03
-6.42

-4.09
-1.94
-0.13
-2.27
-0.03
-0.13
0.06
-6.29

-4 .20
-2 .07
-0 .40
-2 .23
-0 .17
- o .34
0 .11
-6 .45

-4 .27
-1 .86
-0 .40
-2 .35
-0 .02
-0 .44
0 .21
-5 .85

385.38

386. 06

395.04

397 .18

394 .19

8.12
8.00
13.08
9.79
8.01
7.61
8.16
6.13
14.93

8. 18
8. 03
13. 18
9. 74
7. 98
7. 48
7. 99
5. 88
14. 83

8.26
8.13
13.00
9.65
8.01
7.63
8.01
5.88
14.73

8 .23
8 .23
12 .33
9 .76
8 .01
7 .67
8 .09
6 .48
14 .83

8 .20
8 .16
12 .59
9 .53
8 .03
7 .52
8 .06
6 .88
14 .23

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.

-4.38
-2.20
-0.42
-2 44
-0.32
-0.46
-0.31
-6.54

Gold Price in London, Afternoon Fixing

U.S. dollars per fine ounce
Chart 4.

109. 11
74. 40
73. 89
174. 63
40. 36
179. 86
148. 04
67. 47
224. 77
65. 20
85. 64

3-Month Forward Exchange Rates, Premium or Discount

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

109.04
74.84
73.76
174.31
40.40
178.01
147.78
67.45
223.20
64.92
86.49

Call Money Rates

U.S. federal funds
Overnight Euro-dollar deposits
Canada
France

Germany
Japan

Netherlands
Switzerland
U n i t e d Kingdom




SERIES

Chart

5.

3-Month

Interest

12-Sep-90

19-Sep-90

7.96
12.71
10.26
8.39
8.36
8.45
8.13
14.86
10.03

8.00
12.59
10.20
8.35
8.42
8.40
8.05
14.88
9.98

6.

Euro-Dollar

Deposit

Selected

Euro-dollar

Overnight Euro-dollar
U.S. f e d e r a l f u n d s
Differential

8.

Interest

& U.S.

Money M a r k e t

deposits

3-month E u r o - d o l l a r deposit
U.S. 90~day CD's, secondary
Differential
Chart

market

Arbitrage,

Euro-dollar deposit
Interbank s t e r l i n g (London),
Differential
U.S. commercial paper
Canadian f i n a n c e paper,
Differential

3-Month
covered

covered

Euro-dollar deposit
Swiss i n t e r b a n k , covered
Differential
Long Term Government

9

10.

Stock

Indices

(Wednesday

<

l ^ :

,

c B




,

8
12
10
8
8
8
7
14
10

.10
.55
.23
.53
.38
.40
.95
.94
.04

8.06
12.59
9.99
8.51
8.28
8.41
7.78
14.19
9.99

03
04
08
03
04
13

8.
8.
8.
8.
8.
8.

13
48
24
24
26
33

8.
8.
8.
8.
8.
8.

23
10
09
11
10
20

8.
8.
8.
8.
8.
8.

16
14
09
09
06
10

Rates

8.00
8.12
-0.12

8 . 03
8 . 18
- 0 . 15

8 . 13
8 . 26
- 0 . 13

8 . 23
8 . 23
- 0 . 00

8 . 16
8 . 20
- 0 . 04

7.95
7.96
-0.01

8 . 03
8 . 00
0 . 03

8 . 24
8. 21
0 . 03

8 . 11
8 . 10
0. 01

8 . 09
8 . 06
0 . 03

7.95
8 . 08
-0.13

8 . 03
8. 21
- 0 . 19

8 . 24
8 . 37
- 0 . 13

8 . 11
8 . 24
- 0 . 13

8 . 09
8 . 14
- 0 . 05

7.87
8 .19
-0.33

7 . 91
8 ., 1 1
- 0 ..19

8 . 09
8 . 32
- 0 . 23

8 . 02
8 . 22
- 0 .,21

7 . 97
8 ., 1 8
- 0 . 21

7.95
7.96
-0.01

8 .03
8 .03
- 0 .01

8 .24
8 .20
0 .03

8 .. 1 1
8 .. 1 1
- 0 ..00

8 . 09
8 ,. 1 0
- 0 ,.02

7.95
7.81
0.14

8 .03
8 .02
0 .01

8 .24
8 .01
0 .22

8 .11
8 .06
0 .05

8 .09
7 .99
0 .10

6
11
8

ND
ND
.19
ND
.54
.12
.77

105
117
92
126
93
113
125
125

.95
.37
.48
.28
.74
.31
.61
.56

10.86
10.94
9.07
8.42
6.56
11.06
8.83

11
10
9
8
6
11
8

.00
.82
.10
.58
.58
.06
.87

9
8
6
11
8

ND
ND
.17
.63
.63
.10
.99

109.03
124.76
102.06
144.71
100.03
121.43
127.49
130.18

109
119
94
136
96
116
122
127

.16
.27
.99
.09
.77
.42
.28
.85

106
112
87
124
92
109
118
123

.02
.98
.79
.88
.44
.20
.90
.15

9

ND
ND
9 .16
ND
ND
10 . 9 0
8 .76

f i Lg guur reess )

Canada
France
Germany
Japan
Netherlands
Switzerland
U n i t e d Kingdom
United States

^ S E

.21
.54
.24
.34
.39
.40
.95
.89
.98

B o n d Y i ee l d s

Canada
France
Germany
Japan
Switzerland
U n i t e d Kingdom
United States
Chart

8
12
10
8
8
8
7
14
9

Funds

covered

Euro-dollar deposit
I n t e r b a n k DM ( F r a n k f u r t ) ,
Differential

Chart

8.
8.
8.
8.
8.
8.

8.00
8.01
8.00
7.95
7.98
8.09

7.

10-0ct-90

Rates

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

3-Qct-90

Rates

U.S. 90-day CD's, secondary market
Canadian f i n a n c e paper
French i n t e r b a n k r a t e
German i n t e r b a n k r a t e
J a p a n e s e CD r a t e
Netherlands interbank rate
Swiss i n t e r b a n k r a t e
U.K. i n t e r b a n k s t e r l i n g
Weighted average f o r e i g n i n t e r e s t r a t e
(G-10 C o u n t r i e s )
Chart

26-Sep-90

r T ^ S ! " i S - K n I

0

E 3 2 i .

c

? K S £ i

103
116
90
130
92
112
126
123

.84
.15
.14
.72
.60
.94
.21
.07

GOV,

FEDERAL RESERVE statistical release
O c t o b e r 1 5 , 1990

H.10(512)

FOREIGN EXCHANGE RATES
FOR THE WEEK ENDING

OCTOBER 1 2 , 1990

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 rn New York City for cabie transfers payable in foreign currencies:

COUNTRY

MONETARY
UNIT

•AUSTRALIA
AUSTRIA
BELGIUM
CANADA
CHINA,P.R.
DENMARK
•EURO COMMUNITY
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

DOLLAR
SCHILLING
FRANC
DOLLAR
YUAN
KRONE
ECU
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:
HKJNITED STATES

DOLLAR

Oct. 8

H
0
L
I
D
A
Y

(CURRENCY UNITS PER DOLLAR)
O c t . 11
O c t . 10
Oct. 9

O c t . 12

0.8337
10.735
31.390
1.1510
4.7339
5.8160
1.3592
3.6125
5.1100
1.5260
152.30
7.7555
18.040
1.7595
1144.75
130.33
2.6985
1.7200
0.6193
5.9025
134.55
1.7300
2.5420
N. A.
96.00
40.128
5.6270
1.2775
27.282
25.090
1.9700

0.8265
10.747
31.470
1.1500
4.7339
5.8270
1.3572
3.6190
5.1160
1.5283
152.75
7.7560
18.050
1.7545
1146.00
129.97
2.6990
1.7231
0.6168
5.9140
134.50
1.7320
2.5475
716.70
96.20
40.148
5.6420
1.2780
N. A.
25.130
1.9675

0.8140
10.785
31.540
1.1514
4.7339
5.8420
1.3540
3.6250
5.1310
1.5320
153.50
7.7560
18.000
1.7495
1147.40
129.95
2.6985
1.7272
0.6155
5.9280
134.65
1.7325
2.5425
717.10
96.43
40.158
5.6530
1.2910
27.295
25.110
1.9640

0.8183
10.698
31.260
1.1472
4.7339
5.7840
1.3646
3.6010
5.0840
1.5177
152.60
7.7560
17.990
1.7680
1137.50
128.65
2.6985
1.7110
0.6167
5.8845
133.35
1.7280
2.5275
717.30
95.50
40.148
5.6320
1.2785
27.300
25.110
1.9732

83.37

83.43

83.60

82.93

•VALUE I S 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.
THIS RELEASE I S NOW AVAILABLE THROUGH THE FACILITIES OF THE DEPARTMENT OF COMMERCE'S
ECONOMIC BULLETIN BOARD. FOR INFORMATION, CALL ( 2 0 2 ) 3 7 7 - 1 9 8 6 .