Full text of H.13 Selected Interest and Exchange Rates, Weekly Series of Charts : September 10, 1990

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Selected Interest &
Exchange Rates
Weekly Series of Charts

September 10, 1990

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 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

RATIO SCALE
MARCH 1973=100

140
130
120
110

140
FOREIGN CURRENCY
PRICE OF U.S. DOLLAR

BELGIAN FRANC

100
90 —
'

I

i

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i

l

i

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l

i

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•

—

SWISS FRANC

i

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•

'

i

I

'

i

i

I

i

i

i

JAPANESE YEN

—

160

140
•

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l

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i

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l

i

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1988

I

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i

i

I

i

CANADIAN DOLLAR

U.K. POUND

i

'

i

l

i

i

i

l

i

i

i

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I

GERMAN MARK
DUTCH GUILDER

i I i i i

i

'

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i

ITALIAN LIRA
FRENCH FRANC

I




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I I
1988

I

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I I
1990

i

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I

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1990

CHART 2

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

PERCENT PER ANNUM

4

CANADIAN DOLLAR

I

I

I

I

1

1

1

I

1

1 1

1 1

1 1

1

GERMAN MARK

I

I

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4

U.K. POUND

1

1

1

1

1

1

1

1 i

i

1 i

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1

1

1

1 i

i

1

i

i

JAPANESE YEN

'

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I

'

I

'

1

SWISS FRANC

1

1

1

1

i

DUTCH GUILDER

V"
XV

1
FRENCH FRANC

12

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•

1




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«

• •
1988

1

1

1

1

1

1

v

1

1 l

l

1

1

i

1

1 1 1 1
1990

i

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i

ITALIAN LIRA

I

1

•

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1990

i

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1

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1988

1

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

380

360 —

360

340

340

i

320
1987




i
1988

i

I

i
1989

1990

320

CHART 4

CALL MONEY RATES
WEEKLY SERIES
PERCENT PER ANNUM

PERCENT PER ANNUM
16

16

12

FRANCE

U.S. FEDERAL FUNDS

12

w—W

JAPAN

0
16

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16

12

12

CANADA
GERMANY

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UNITED KINGDOM




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20

SWITZERLAND
16

12

NETHERLANDS

1988

1990

i i
1988

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1990

CHARTS

3-MONTH INTEREST RATES
WEEKLY SERIES
PERCENT PER AN WM
10

:ENT PER ANNUM

12
SW SS NTERBANK RATE

—

10

8

U.S. CD'S

8

6

6

4
WEIGHTED AVERAGE
FOREIGN RATE

4

2

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0
16

16

14 —

U.K. INTERBANK STERLING

14

CANADIAN FINANCE CO.
PAPER

12

12

10

10

8

8

6

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10

8 —

GERMAN INTERBANK RATE

—

FRENCH INTERBANK RATE

6
12
10

6

8

4

6

2
10

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10
NETHERLANDS INTERBANK RATE

8

8

JAPANESE CD RATE

6

6

4
2

4

4
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1988

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1990

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1988

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1990

2

CHARTS

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

PERCENT PER ANNUM

OVERNIGHT

3-MONTH

4
14

12

4

7-DAY

6-MONTH

10

8

6

4
14

12

4

1-MONTH

1-YEAR

10

8

6

4




1988

1990

4

CHART 7

SELECTED EURO-DOLLAR AND U.S. MONEY MARKET RATES
DIFFERENTIAL: P L U S H , FAVORS BORROWING IN U.S.
AVERAGES FOR WEEK ENDING WEDNESDAY
PEI SENT PER ANNUM

PERCENT PER ANNL

14

14

12

12

10

OVERNIGHT

10

3-MONTH

EURO-DOLLAR DEPOSITS

EURO-DOLLAR DEPOSITS

8

8

6

6
FEDERAL FUNDS

90-DAY CD'S

DASHED LINE

DASHED LINE

4

2
2

4

-I—J

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DIFFERENTIAL

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2
2

DIFFERENTIAL

1

1

+

+

0

1

0

J

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1988

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1990

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1 1 1 I

1988

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1990

1

CHARTS

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

ICENT PER ANNUM

16

16

12

12

CANADIAN FINANCE
CO. PAPER, COVERED

INTERBANK STERLING
COVERED LONDON

8

8

0
2

»

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0

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l

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4

DASHED LINE

DASHED LINE

+

2
16

U.S. COMMERCIAL PAPER

EURO-DOLLAR DEPOSITS

4

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DIFFERENTIAL

DIFFERENTIAL

+

0

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INTERBANK DM

12

SWISS INTERBANK (SF) COVERED

COVERED FRANKFURT

8

8

EURO-DOLLAR DEPOSITS

4

EURO-DOLLAR DEPOSITS

DASHED LINE

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DASHED LINE

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0
2

DIFFERENTIAL

DIFFERENTIAL

+

+

0

0

2

2

16

12

0
2

0
2

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1988

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1990

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1988

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2

CHART 9

LONG-TERM GOVERNMENT BOND YIELDS
WEEKLY SERIES
RCENT PER ANNUM

PERCENT PER ANN!

14
UNITED STATES

CANADA

12

10

8

6
14

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UNITED KINGDOM

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FRANCE

12

10

8

6
10

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SWITZERLAND

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JAPAN

8

6

4
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10

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NETHERLANDS

1

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GERMANY

MONTHLY

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1990

CHART 10

STOCK INDICES
WEEKLY SERIES
RATIO SCALE
1986=100
200
— UNITED STATES

JAPAN

SWITZERLAND

— NETHERLANDS

— GERMANY

FRANCE

I
CANADA




RATIO SCALE
1986=100
200

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UNITED KINGDOM

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SERIES
8-Aug-90
Chart 1.

15-Aug-90 22-Aug-90 29-Aug-90 5-Sep-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

3.0646
86.932
18.786
62.978
0.08609
0.66738
55.897
74.468
186.40

3.0799
87.254
18.892
63.361
0.08641
0.66915
56.238
75.852
188.39

3.1215
87.528
19.113
64.252
0.08683
0.68033
57.021
77.679
191.71

3.1342
87.989
19.195
64.373
0.08676
0.69000
57.131
78.491
194.72

3.0975
86.687
18.978
63.602
0.08550
0.69756
56.437
76.639
189.73

120.76
86.64
84.65
177.16
49.42
174.74
160.47
239.57
75.39

121 .37
86 .96
85 .13
178 .24
49 .60
175 .21
161 .45
244 .03
76 .20

123 .00
87.24
86 .13
180 .75
49.84
178 .13
163 .69
249.91
77 .54

123.50
87.70
86.50
181.09
49.80
180.67
164.01
252.51
78.76

122.06
86.40
85.52
178.92
49.08
182.64
162.02
246.56
76.74

109 .76
75 .93
74 .14
176..07
41,.11
167. 08
149. 16
67.57
227.02
66. 22
85. 97

109.68
75.97
74.11
175.46
40.87
168.84
148.71
67.44
228.34
67.02
85.45

109.34
75.48
73.90
174.80
40.61
172.62
148.18
67.43
224.84
65.77
86.42

-4.71
-2.03
-0.33
~3 .,37
0.19
-0.34
-0.73
-6.58

-4.58
-2.06
-0.25
-3.32
0.01
-0.32
-0.48
-6.39

-4.52
-2.23
-0.48
-2.80
-0.22
-0.51
-0.52
-6.55

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

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.

-5.15
-2.10
-0.58
-3.38
0.14
-0.56
-1.19
-6.79

-5.04
-2.04
-0.53
-3.51
0.18
-0.56
-1.09
-6.77

Gold Price in London, Afternoon Fixing

U.S. dollars per fine ounce
Chart 4.

109 .37
76 .50
74..01
175..23
41,34
165.85
148.55
67.64
223.81
65.68
87.07

3-Month Forward Exchange Rates,
Rates Premium or Discount

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

109.33
76.58
73.94
174.95
41.39
166.24
148.33
67.62
220.68
65.26
87.59

381.99

397.43

408.70

398.81

385.79

8..07
7..95
13.83
9.66
8. 05
7.33
8. 28
8. 08
14. 93

8.13
8.00
13.63
9.35
8.00
7.31
8.26
7.98
14.91

8.30
8.13
13.53
9.81
7.95
7.38
8.11
7.88
14.83

8 .08
7 .89
13 .23
9..86
7..93
7.43
8.06
7.43
14.80

8.25
7.96
12.81
9.95
8.02
7.58
8.11
7.13
14.88

Call Money Rates

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




8-Aug-90
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.

7.86
13.33
9.84
8.38
7.83
8.42
8.83
14.96
10.03

7.89
13.20
10.00
8.39
7.92
8.49
8.85
14.96
10.06

8.04
13.05
10.04
8.35
8.03
8.42
8. 75
14.98
10.07

8. 10
12. 98
10. 24
8.37
8. 23
8.46
8.55
14.90
10.13

7.97
12.89
10.25
8.38
8. 27
8.44
8.45
14.91
10.07

7.95
7.94
7.94
7.88
7.88
7.96

8.00
8.00
7.94
7.91
7.89
8.00

8. 13
8.08
8.05
8.04
8.05
8. 16

7.89
8.05
8.08
8. 14
8. 24
8.38

7.96
7.96
7.96
7.98
8.00
8. 13

Euro-Dollar Deposit Rates

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

15-Aug-90 22-Aug-90 29-Aug-90 5-Sep-90

Selected Euro-dollar & U.S. Money Market Rates
7.95
8.07
-0. 12

8.00
8.13
-0.13

8. 13
8.30
-0. 17

7.89
8.08
-0. 19

7.96
8. 25
-0. 29

7.88
7.86
0. 01

7.91
7.89
0.02

8.04
8.04
-0. 00

8. 14
8. 10
0. 03

7.98
7.97
0. 01

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

7.88
7.91
-0. 04

7.91
7.94
-0.02

8.04
8. 15
-0, 11

8. 14
8. 27
-0. 13

7.98
8. 12
-0. 14

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

7. 76
8.01
-0. 25

7.81
7.99
-0.19

7. 93
8. 18
-0. 26

8. 01
8. 25
-0. 23

7.88
8. 22
-0. 34

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

7.88
7..79
0..09

7.91
7.85
0.06

8. 04
8. 02
0. 02

8. 14
8. 12
0. 02

7.98
7.89
0. 08

Euro-dollar deposit
Swiss interbank, covered
Differential

7..88
7..61
0..27

7.91
7.73
0.18

8 .04
8.01
0 .03

8..14
8,.06
0,.08

7. 98
7. 92
0. 06

10 .86
10 .03
8 .89
7 .85
6 .05
11 .02
8 .62

ND
10.56
8.96
ND
6.24
11.14
8.67

ND
10 .47
9 .00
ND
6 .39
11 .37
8 .82

ND
ND
9 .07
ND
6 .60
11 .33
8 .95

ND
ND
9 .08
ND
ND
11 .15
8 .87

116.91
130.69
110.30
158.76
101.65
131.02
135.63

114 .74
115 .13
100 .27
146 .68
97 .75
120 .23
125 .88

137.13

128 .07

111 .30
126 .18
103 .50
144 .53
97 .97
121 . 66
128 .70
130 .69

111 .17
122 .96
101 .27
140 .71
98 .40
120 .02
129 .74
130 .80

Overnight Euro-dollar deposits
U.S. federa1 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 Bond Yields

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

Stock Indices (Wednesday figures)

Canada
Franee
Germany
Japan
Netherlands
Switzerland
United Kingdom
United States

115 .84
135 .24
110 .42
158 .80
102 .20
130 .04
135 .66
136 .29

Indices (in order, rebased to 1986=100) are Toronto Composite, CAC General, FAZ Aktien,
Tokyo SE (Topix), CBS All-General, Swiss Bank Index, Financial Times Ordinary, NYSE Composite



•dz

FEDERAL RESERVE statistical release

lIRE
H. 10(512)

September 7, 1990

FOREIGN EXCHANGE RATES
FOR THE WEEK ENDING

SEPTEMBER 7, 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 in New York City for cable transfers payable in foreign currencies:

COUNTRY

MONETARY
UNIT

•AUSTRALIA
DOLLAR
AUSTRIA
SCHILLING
BELGIUM
FRANC
CANADA
DOLLAR
CHINA,P.R.
YUAN ,
DENMARK
KRONE
•EURO COTtlUNITY ECU
FINLAND
MARKKA
FRANCE
FRANC
GERMANY
D. MARK
GREECE
DRACHMA
HONG KONG
DOLLAR
INDIA
RUPEE
•IRELAND
POUND
ITALY
LIRA
JAPAN
YEN
MALAYSIA
RINGGIT
NETHERLANDS
GUILDER
•NEW ZEALAND
DOLLAR
NORWAY
KRONE
PORTUGAL
ESCUDO
SINGAPORE
DOLLAR
SOUTH AFRICA
RAND
SOUTH KOREA
WON
SPAIN
PESETA
SRI LANKA
RUPEE
SWEDEN
KRONA
SWITZERLAND
FRANC
TAIWAN
DOLLAR
THAILAND
BAHT
•UNITED KINGDOM POUND
MEMO:
••UNITED STATES

DOLLAR

Sep. 3

(CURRENCY UNITS PER DOLLAR)
Sep. 4
Sep. 5
Sep. 6
0.8147
11.106
32.550
1.1615
4.7339
6.0700
1.3088
3.7260
5.3060
1.5838
156.90
7.7665
17.640
1.6940
1180.75
143.55
2.6890
1.7850
0.6165
6.1235
139.75
1.7640
2.5875
716.20
99.00
39.948
5.8125
1.3175
27.295
25.500
1.8758
87.04

0.8278
11.015
32.130
1.1529
4.7339
5.9900
1.3255
3.6900
5.2370
1.5635
154.95
7.7678
17.540
1.7140
1167.00
141.68
2.6875
1.7619
0.6240
6.0555
138.38
1.7480
2.5670
716.90
98.35
39.938
5.7545
1.2975
27.300
25.470
1.8990
85.98

0.8237
10.965
32.000
1.1579
4.7339
5.9585
1.3303
3.6750
5.2190
1.5580
154.40
7.7678
17.560
1.7245
1162.00
141.05
2.6875
1.7562
0.6255
6.0305
138.60
1.7590
2.5580
717.80
98.07
39.938
5.7350
1.2988
27.301
25.430
1.9080
85.72

Sep. 7
0.8208
10.983
32.200
1.1635
4.7339
5.9910
1.3230
3.6920
5.2470
1.5660
155.05
7.7678
17.680
1.7130
1169.00
140.10
2.6890
1.7649
0.6233
6.0565
138.75
1.7778
2.5735
718.60
98.11
39.938
5.7540
1.3040
27.301
25.400
1.8940
86.05

•VALUE IS U.S. DOLLARS




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