The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
(516/517) Selected Interest & Exchange Rates W eekly Series o f Charts September 14, 1998 DIVISION OF INTERNATIONAL FINANCE Prepared by the BOARD OF GOVERNORS FINANCIAL MARKETS FEDERAL RESERVE SYSTEM SECTION Washington, D.C. 20551 Table of Contents TABLES SUBSCRIPTION RATES: 1. LATEST FIGURES PLOTTED 2. DAILY CERTIFIED SPOT EXCHANGE 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. CHARTS 1. SPOT EXCHANGE RATES INDICES 2. 3-MONTH FORWARD EXCHANGE 3. GOLD PRICE - LONDON 4. CALL MONEY RATES 5. 3-MONTH INTEREST RATES 6. EURO-DOLLAR DEPOSIT RATES 7. SELECTED EURO-DOLLAR AND 8. INTEREST ARBITRAGE: 3-MONTH 9. LONG-TERM GOVERNMENT 10. INDUSTRIAL STOCK INDICES Chart 1 Spot Exchange Indices Ratio scale March 1973=100 Dollar prices of foreign currencies and weighted average values (dashed line) (Average for week ending Wednesday) Ratio scale March 1973=100 150 130 110 90 Chart 2 3 -M o n th F o rw a rd E xc h a n g e R ates Premium (+) or (-) (Averages for week ending Wednesday) Percent per annum Percent per annum 4 2 0 -2 -4 Chart 3 P ric e o f G o ld in L o n d o n (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 1993 1994 1995 1996 1997 1998 280 Chart 4 Call Money Rates (Weekly series) Percent per annum Percent per annum 5 4 3 2 1 0 6 5 4 3 2 9 8 7 5 4 3 2 Chart 5 3-Month Interest Rates (Weekly series) Percent per annum Percent per annum Chart 6 E u ro -D o lla r D e p o s it R ate s, L o n d o n (Averages for week ending Wednesday) Percent per annum Percent per annum 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 +1 1995 1996 1997 1998 Chart 8 Interest Arbitrage: 3-Month Funds Differential: plus(+), indicates favor dollar assets (Average for week ending Wednesday) Percent per annum Percent per annum Differential 1995 ± 1996 ± 1997 -1 1998 Differential Differential 1\ y r y v ~ v w y | r W ' v A ' A * ___________ i___ ________i___________ i___________ 1995 1996 1997 1998 ___________ 1 ___________ 1 ___________ 1 ___________ 1995 1996 1997 1998 Chart 9 Long-Term Government Bond Yields (Weekly series) 8 7 6 5 4 Chart 10 Stock Indices (Weekly series) Ratio scale End-1994=100 Ratio scale End-1994=100 1995 1995 1996 1997 1998 1996 1997 1998 12-Aug-98 19-Aug-98 26-Aug-98 2-Sep-98 Chart 1. 9-Sep-98 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 2.7286 65.753 16.784 56.275 0.05705 0.68433 49.899 67.031 163.07 2.7019 65.602 16.611 55.682 0.05648 0.68866 49.407 66.510 162.00 2.6963 64.640 16.582 55.589 0.05637 0.69363 49.308 66.530 163.66 2.7437 64.004 16.883 56.634 0.05726 0.71488 50.183 68.857 166.62 2.8046 65.432 17.250 57.852 0.05863 0.74448 51.270 70.506 166.71 107.52 65.53 75.63 158.31 32.75 179.18 143.25 215.65 65.96 106.47 65.38 74.85 156.64 32.42 180.31 141.84 213.97 65.52 106.25 64.43 74.72 156.38 32.35 181.62 141.55 214.04 66.19 108.12 63.79 76.08 159.32 32.87 187.18 144.06 221.52 67.39 110.52 65.22 77.73 162.74 33.66 194.93 147.19 226.83 67.43 108.65 63.46 73.70 174.36 29.91 198.98 147.78 53.65 222.79 64.67 102.27 109.07 61.86 74.05 175.37 29.97 202.65 148.38 53.89 227.56 64.97 100.50 109.62 62.19 74.41 176.24 30.19 208.05 149.07 53.95 229.10 63.79 98.33 0.58 2.15 2.19 0.81 5.36 2.27 3.90 -2.01 0.51 2.16 2.21 0.80 5.36 2.31 4.00 -2.02 -0.27 2.09 2.14 0.56 5.26 2.26 4.06 -1.91 -0.15 2.07 2.11 0.55 5.28 2.25 3.98 -1.88 285.79 284.34 283.90 276.89 284.25 5.52 5.49 4.83 3.40 3.35 0.44 3.26 1.35 7.48 5.60 5.54 4.76 3.40 3.32 0.43 3.26 1.53 6.35 5.49 5.51 4.73 3.40 3.33 0.42 2.91 1.49 7.60 5.65 5.61 5.78 3.40 3.76 0.41 3.15 1.43 6.78 5.51 5.58 5.74 3.40 3.38 0.43 3.22 1.38 7.45 = 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, March 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. 0.49 2.17 2.21 0.85 5.35 2.27 3.91 -1.99 Gold Price in London, Afternoon Fixing U.S. dollars per fine ounce Chart 4. 108.84 64.45 73.81 174.61 29.97 197.28 148.03 54.10 222.62 63.91 102.21 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. 109.35 64.24 74.22 175.70 30.11 194.71 148.75 54.49 223.18 64.00 101.52 Call Money Rates U.S. federal funds Overnight Euro-dollar deposits Canada France Germany Japan Netherlands Switzerland United Kingdom 12-Aug-98 19-Aug-98 26-Aug-98 2-Sep-98 Chart 5. 3 -Month Interest Rates 5.58 5.19 3.42 3.40 0.70 3.35 1.65 7.62 3.78 5.57 5.23 3.46 3.42 0.69 3.41 1.66 7.63 3.79 5.54 6.01 3.42 3.41 0.63 3.44 1.53 7.52 3.85 5.51 5.85 3.45 3.38 0.61 3.29 1.52 7.45 3.81 5.54 5.50 5.51 5.56 5.57 5.59 5.51 5.50 5.51 5.56 5.56 5.57 5.61 5.50 5.50 5.51 5.46 5.41 5.58 5.53 5.53 5.48 5.45 5.36 Euro-Dollar Deposit Rates Overnight 7-day 1-month 3-month 6-month 1-year Chart 7. 5.58 5.25 3.45 3.42 0.70 3.35 1.73 7.59 3.78 5.49 5.50 5.52 5.56 5.62 5.64 U .S . 90-day C D '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. 9-Sep-98 Selected Euro-dollar & U.S. Money Market Rates Overnight Euro-dollar deposits U .S . federal funds Differential 5.49 5.52 -0.03 5.54 5.60 -0.06 5.51 5.49 0.02 5.61 5.65 -0.03 5.58 5.51 0.07 3-month Euro-dollar deposit U.S. 90-day CD's, secondary market Differential 5.56 5.58 -0.02 5.56 5.58 -0.02 5.56 5.57 -0.01 5.51 5.54 -0.02 5.48 5.51 -0.02 Euro-dollar deposit Interbank sterling (London), covered Differential 5.56 5.56 -0.00 5.56 5.58 -0.01 5.56 5.57 -0.00 5.51 5.58 -0.06 5.48 5.54 -0.05 U.S. commercial paper Canadian finance paper, covered Differential 5.50 5.74 -0.24 5.50 5.78 -0.28 5.49 5.75 -0.26 5.46 5.73 -0.28 5.41 5.70 -0.29 Euro-dollar deposit Interbank DM (Frankfurt), covered Differential 5.56 5.65 -0.09 5.56 5.61 -0.05 5.56 5.64 -0.08 5.51 5.57 -0.05 5.48 5.51 -0.0.2 Euro-dollar deposit Swiss interbank, covered Differential 5.56 5.65 -0.09 5.56 5.57 -0.01 5.56 5.68 -0.11 5.51 5.61 -0.09 5.48 5.52 -0.04 5..58 4. ,58 4..42 1.,23 2..86 4..58 5..62 5..41 5..58 4..40 4..26 1..21 2..84 4..43 5..51 5,.30 5.63 4.36 4.25 1.13 2.80 4.38 5.38 5.08 5..48 4..36 4..23 1..10 2..89 4..36 5..34 5..01 Canada 154..15 154,.54 146 ,47 . 134.86 France 202..63 209..92 200,.19 191.10 Germany 215,.01 225,.06 213 .51 199.72 Japan 75,.69 75,.92 73 ,58 . 71.76 Netherlands 277,.48 266,.80 263,.20 254.57 Switzerland 281,.87 276,.35 262 .64 249.69 154,.02 United Kingdom 148,.91 149 .95 141.60 215 .02 United States 217,.37 219,.20 197.11 Indices (in order, rebased to end-1994=l00) are Toronto Composite, SBF250, FAZ Aktien, Tokyo SE (Topix), CBS All-General, Swiss Performance Index, Financial Times Ordinary, NYSE Composite 139..35 191,.93 202,.85 71..58 251,.22 247,.98 141,.24 199,.48 Chart 8. Chart 9. Interest Arbitrage, 3-Month Funds Long Term Government Bellwether Bond Yields 10-year maturity, where available Canada France Germany Japan Switzerland Netherlands United Kingdom United States Chart 10. 5..51 4..65 4..53 1..25 2..90 4..64 5..62 5..40 Stock Indices (Wednesday figures)
@FedFRASER