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(516/517) Selected Interest & Exchange Rates W eekly Series o f Charts October 25,1999 DIVISION OF INTERNATIONAL FINANCE Prepared by the BOARD OF GOVERNORS FINANCIAL MARKETS FEDERAL RESERVE SYSTEM SECTION Washington, D.C. 20551 Table of Contents TABLES 1. LATEST FIGURES PLOTTED 2. DAILY CERTIFIED SPOT EXCHANGE RATES CHARTS 1. NOMINAL CURRENCY EXCHANGE VALUES 2. 3-MONTH FORWARD EXCHANGE RATES 3. PRICE OF GOLD IN LONDON 4. OVERNIGHT FUNDING RATES AND OFFICIAL INTEREST RATES 5. 3-MONTH INTEREST RATES 6. LONG-TERM GOVERNMENT BOND YIELDS 7. STOCK INDEXES 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 Nominal Currency Exchange Values Dollar prices of foreign currencies and weighted average values of U.S. dollar (Averages for week ending Wednesday, ratio scale, March 1973 = 100) 220 Foreign currency price of U.S. dollar - (Major currencies index) Restated German mark and euro 200 180 160 1997 140 290 Canadian dollar Japanese yen 260 230 200 170 300 U.K. pound Swiss franc 260 220 180 90 Australian dollar Swedish krona 70 50 30 Chart 2 3-Month Forward Exchange Rates Premium (+) or (-) (Averages for week ending Wednesday, percent per annum) 1 German mark and euro U.K. pound 0 -1 -2 -3 8 Canada Japanese yen 6 4 2 2 Swiss franc Australian dollar 1 0 -1 -2 Chart 3 Price of Gold in London (Averages for week ending Wednesday) u.s. dollars per fine ounce U.S. dollars per fine 420 420 12.5 Kg Bars Afternoon fixing price 400 400 380 380 360 360 340 340 320 320 300 300 280 280 260 260 240 1994 1995 1996 1997 1998 1999 240 Chart 4 Overnight Funding Rates and Official Interest Rates (Averages for week ending Wednesday, percent per annum) Chart 5 3-Month Interest Rates (Averages for week ending Wednesday, percent per annum) Chart 6 Long-Term Government Bond Yields (Averages for week ending Wednesday, percent per annum) 8 United States Germany 6 4 Weighted average foreign rate 2 0 8 Canada 6 4 2 0 United Kingdom 8 France 6 4 2 0 8 Switzerland 6 4 2 0 Chart 7 Stock Indexes (Averages for week ending Wednesday, ratio scale, December 30,1994 = 100) 300 United States 220 220 euro area Germany 180 140 100 60 300 Canada 260 220 180 140 140 - 100 60 300 United Kingdom France 260 220 180 140 100 60 300 Switzerland’ 260 220 180 140 100 1996 1997 'December 29, 1994 = 100 60 22-Sep-99 29-Sep-99 6-Oct-99 Chart 1. 13-Oct-99 20-Oct-99 Nominal Currency Exchange Values Noon buying rates (U.S. cents, weekly averages) Australian dollar Canadian dollar Japanese yen Restated German mark and euro Swedish krona Swiss franc U .K . pound 64.6800 67.827 0.94825 104.37 12.1134 65.059 162.75 65.2340 68.032 0.94828 104.87 12.1466 65.475 164.34 65.8260 68.013 0.93858 106.92 12.2692 67.083 165.29 65.4675 67.766 0.93290 107.12 12.3035 67.249 165.27 64.7280 67.167 0.94526 108.29 12.2895 68.105 166.66 45.78 67.60 248.28 150.12 53.64 209.30 65.83 46.17 67.81 248.29 150.83 53.79 210.64 66.47 46.59 67.79 245.75 153.79 54.33 215.81 66.86 46.34 67.54 244.26 154.06 54.49 216.35 66.84 45.81 66.94 247.50 155.76 54.42 219.10 67.41 0.61 0.77 2.85 5.66 4.36 0.15 0.82 1.10 2.92 6.09 4.21 0.17 0.80 1.06 2.92 6.14 4.11 0.23 0.74 0.98 2.82 6.18 4.10 0.29 284.79 312.60 321.30 313.00 Indexes, March 1973 base rates = 100 Australian dollar Canadian dollar Japanese yen Restated German mark and euro Swedish krona Swiss franc U .K . pound Chart 2. 3-Month Forward Exchange Rates, Premium or Discount Australian dollar Canadian dollar Euro Japanese yen Swiss franc U .K . pound Chart 3. Gold Price in London, Afternoon Fixing U.S. dollars per fine ounce Chart 4. 0.53 0.73 2.81 5.53 4.39 0.16 257.73 Overnight Funding Rates and Official Interest Rates United States Federal funds Discount rate Canada Bank rate Call money Lower bound Euro area Marginal lending rate Eonia Repo rate Overnight deposit rate Japan Call money Discount rate Switzerland Lombard rate Call money Discount rate United Kingdom Call money Repo rate 5.16 4.75 5.27 4.75 5.27 4.75 5.17 4.75 5.20 4.75 4.75 4.58 4.25 4.75 4.58 4.25 4.75 4.53 4.25 4.75 4.55 4.25 4.75 4.62 4.25 3.50 2.26 2.50 1.50 3.50 2.21 2.50 1.50 3.50 2.61 2.50 1.50 3.50 2.57 2.50 1.50 3.50 2.39 2.50 1.50 0.03 0.50 0.03 0.50 0.03 0.50 0.02 0.50 0.02 0.50 3.00 0.83 0.50 3.25 0.78 0.50 3.25 1.04 0.50 3.13 0.85 0.50 3.13 0.75 0.50 5.01 5.25 4.93 5.25 4.99 5.25 5.05 5.25 5.18 5.25 22-Sep-99 29-Sep-99 6-Oct-99 Chart 5. 13-Oct-99 20-Oct-99 3-Month Interest Rates U.S. 90-day CD's, secondary market 5.56 6.06 6.12 5.45 Australian bank bill 5.22 5.05 4.99 5.25 Canadian finance paper 4.88 5.01 5.06 4.88 2.77 Euro-area interbank 3.20 3.30 2.69 Japanese CD 0.07 0.20 0.20 0.03 Swedish treasury bill 3.17 3.30 3.65 3.63 1.27 Swiss interbank 1.09 1.89 2.10 U.K. interbank sterling 5.32 5.31 5.75 5.82 2.87 Weighted average foreign interest rate 3.13 3.19 2.83 (Canada, euro area, Japan, United Kingdom, Switzerland, Australia, and Sweden) Chart 6. Long Term Government Bellwether Bond Yields 10-year maturity, where available Canada 5.70 5.84 5.75 6.00 France 5.18 5.31 5.22 5.39 Germany 5.05 5.17 5.26 5.09 Italy 5.31 5.43 5.35 5.51 1.70 Japan 1.66 1.76 1.70 3.37 3.47 3.67 Switzerland 3.30 5.63 5.70 5.71 United Kingdom 5.55 5.98 6.07 United States 5.86 5.91 4.86 4.94 5.05 Weighted average foreign interest rate 4.88 (Canada, euro area, Japan, United Kingdom, Switzerland, Australia, and Sweden) Chart 7. 6.14 5.25 5.12 3.42 0.20 3.78 2.21 5.75 3.24 6.16 5.54 5.42 5.65 1.79 3.74 5.80 6.15 5.18 Stock Indexes (Wednesday figures) Canada France Germany Euro area* Italy Japan Switzerland** United Kingdom United States 163.43 236.68 212.02 325.48 238.99 94.88 268.32 158.50 239.56 163.24 235.14 205.65 321.28 235.94 93.52 264.37 159.33 233.62 166.73 242.24 211.78 321.17 235.41 97.01 269.06 160.14 243.05 167.01 238.79 212.36 325.79 229.81 97.94 267.06 157.83 235.95 164.49 236.74 212.19 316.37 224.13 96.68 263.20 154.88 236.63 Indices (in order, rebased to December 30, 1994, **December 29, 1994) are Toronto Composit SBF250, FAZ Aktien, *Dow Jones EURO stock index, Banca Italiana General, Tokyo SE (Topix), Swiss Performance Index, Financial Times Ordinary, NYSE Composite
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