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(516/517) i Selected Interest & Exchange Rates Weekly Series of Charts 1 i September 15,1986 international finance Prepared by the FINANCIAL MARKETS SECTION BOARD OF GOVERNORS FEDERAL^ RESERVE SYSTEM Washington, D C. 20551 p Table of Contents TABLES SUBSCRIPTION RATES: 1. LATEST FIGURES PLOTTED Weekly $15.00 per year or $.40 each in the United States, its possessions, Canada, and Mexico; 10 or more of the same issue to one address, $13.50 per year or $.35 each. Elsewhere, $20.00 per year or $.50 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. 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 INDICES CHART 1 SPOT EXCHANGE INDICES DOLLAR PRICES OF FOREIGN CURRENCIES AND WEIGHTED AVERAGE VALUES (THIN LINE) AVERAGES FOR WEEK ENDING WEDNESDAY MARCH :ALE 973=100 200 180 RATIO MARCH 197 1 = 1 0 0 FOREIGN CURRENCY PRICE OF U.S. DOLLAR 50 45 ITALIAN LIRA 160 40 140 35 120 30 100 25 200 200 180 160 180 JAPANESE YEN GERMAN MARK 140 160 / — 120 120 100 - I 80 I I I I I 100 80 140 120 140 140 DUTCH GUILDER CANADIAN DOLLAR 120 100 100 90 90 80 80 70 70 60 60 90 90 80 U K POUND 80 FRENCH FRANC 70 - 70 60 60 50 50 I 40 I 11 l i i h i l i i I 40 240 120 - BELGIAN FRANC SWISS FRANC 200 100 90 J - 180 80 160 70 140 60 - I 50 1984 1986 I 120 100 I 1984 1986 CHART 2 3-MONTH FORWARD EXCHANGE RATES PREMIUM (+) OR ( - ) AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER ANNUM PERCENT PER ANNUM JAPANESE YEN CANADIAN DOLLAR 4 12 U. K. POUND SWISS FRANC + 0 4 8 8 GERMAN MARK DUTCH GUILDER FRENCH FRANC ITALIAN LIRA 4 0 8 0 8 16 24 24 32 32 1984 1986 1984 1986 CHART 3 PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY U.S. DOLLARS PER FINE OUNCE U.S. DOLLARS PER FINE OUNCE 520 520 500 500 480 480 460 460 12.5 Kg BARS 440 440 AFTERNOON FIXING PRICE 420 420 400 400 380 380 360 360 340 340 320 320 300 300 280 280 260 260 1983 1984 1985 1986 CHART 4 CALL MONEY RATES WEEKLY SERIES PER( NT PER ANNUM PERCENT PER At 20 20 16 16 FRANCE U. S. FEDERAL FUNDS 12 12 8 8 4 4 JAPAN 0 0 20 20 16 SWITZERLAND 16 CANADA 12 12 8 8 4 4 0 0 20 20 16 16 UNITED KINGDOM 12 12 GERMANY 8 "X 4 WVwv r 4 NETHERLANDS ill 0 8 1984 1986 0 1984 1986 CHART 5 3-MONTH INTEREST RATES WEEKLY SERIES NT PER ANNUM PERCENT PER AN 14 16 U.S. CD'S CANADIAN FINANCE CO. PAPER 12 L 10 8 14 — 12 10 WEIGHTED AVERAGE FOREIGN RATE 6 8 I II 4 I I 6 16 14 IFRENCH INTERBANK RATE U.K. INTERBANK STERLING 14 - 12 12 10 10 8 I 8 I I I I I 6 10 8 10 NETHERLANDS INTERBANK RATE GERMAN INTERBANK RATE 8 6 6 4 - I 2 I I I I I 2 8 8 7 SWISS INTERBANK RATE JAPANESE GENSAKI RATE vV / V j i 6 \ r 6 ~ 4 2 5 I 4 4 1984 1986 I I I I 1984 I 0 1986 CHART 6 EURO-DOLLAR DEPOSIT RATES LONDON AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER AL ENT PER ANNUM 14 14 OVERNIGHT 3-MONTH 12 12 10 10 8 8 6 6 4 4 14 14 7-DAY 6-MONTH 12 12 10 10 8 8 6 6 4 4 14 14 1-MONTH 1-YEAR 12 12 10 10 8 8 6 6 IIlllllllI I 4 1984 4 1986 1984 1986 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 16 14 14 FEDERAL FUNDS 3-MONTH DASHED LINE EURO-DOLLAR DEPOSITS 12 - 12 10 10 90-DAY CD S - 8 - 6 OVERNIGHT EURO-DOLLAR DEPOSITS I I I I I I I 11111111111111111111111 I I I I I I I I I I I 4 2 DIFFERENTIAL DIFFERENTIAL l I I 1111111111111111111111111 1984 1 PERCENT ON DIFFERENTIAL SCALE = 2 PERCENT ON RATE SCALE 1986 I I I I J I 1984 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 1986 CHART 8 INTEREST ARBITRAGE: 3-MONTH FUNDS DIFFERENTIAL: PLUSH), INDICATES FAVOR DOLLAR ASSETS AVERAGES FOR WEEK ENDING WEDNESDAY PERC U PER ANNUM PERCENT PER AN 18 18 CANADIAN FINANCE CO. PAPER, COVERED EURO-DOLLAR DEPOSITS 14 DASHED LINE 14 10 10 INTERBANK STERLING 6 COVERED LONDON 2 I I 2 1 1 1 6 U. S. COMMERCIAL PAPER ill LLLLL DIFFERENTIAL 2 2 DIFFERENTIAL + + 0 0 Mill 2 II 2 18 18 INTERBANK DM 14 SWISS INTERBANK (SF) COVERED COVERED FRANKFURT 14 10 10 EURO-DOLLAR DEPOSITS 6 EURO-DOLLAR DEPOSITS DASHED LINE 6 DASHED LINE 2 2 2 2 DIFFERENTIAL DIFFERENTIAL 0 0 2 l I I J_1 1984 2 1986 1 PERCENT ON DIFFERENTIAL SCALE = 2 PERCENT ON RATE SCALE 1984 1986 CHART 9 LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES ENT PER ANNUM PERCENT PER AL 17 17 UNITED STATES 15 CANADA 15 13 13 11 11 .9 9 7 7 15 9 13 UNITED KINGDOM 7 SWITZERLAND 11 5 9 3 7 1 10 10 GERMANY 8 8 6 6 4 4 18 18 U. S. CORPORATE MONTHLY 16 16 FRANCE Aaa BONDS 14 - 12 — \ — 14 — 12 INETHERLANDS 10 10 MONTHLY 8 8 I I 6 1984 1986 I f I 1984 I 1111111111111f i H r r + i 1111 1986 6 CHART 10 INDUSTRIAL STOCK INDICES WEEKLY SERIES RATIO SCALE 1969=100 RATIO SCALE 1969=100 UNITED KINGDOM UNITED STATES NETHERLANDS SWITZERLAND FRANCE GERMANY CANADA JAPAN 1984 1986 1984 1986 SERIES NAME LAST VALUE PLOTTED DATE VALUE CHART 1. SPOT EXCHANGE KATES AND INDICES WEEKLY AVERAGES, NOON BOXING RATES (U.S. CENTS) GERMAN MARK JAPANESE YEN DUTCH GUILDER U. K. POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC BELGIAN FRANC ITALIAN LIRA SWEDISH KRONA SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. 10 10 10 10 10 10 10 10 10 10 48.67 0.64355 43. 15 149.02 72. 17 14.87 59.91 2.35073 0.07052 14.44 SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. 10 10 10 10 10 10 10 10 10 136.92 168.50 123.89 60.27 71. 93 67.03 192.73 92. 63 40.06 10 10 10 10 10 10 10 10 10 10 10 107.43 155.78 191.07 133.56 60.86 74.51 68. 17 208. 14 97. 90 39.69 66. 74 10 10 10 10 10 10 10 10 -2.47 -3. 95 1.41 -1.47 1.70 0.71 1.10 -5.39 INDICES, MARCH 1973 BASE RATES = 100 GERMAN MARK JAPANESE YEN DUTCH GUILDER U.K. POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC BELGIAN FRANC ITALIAN LIRA LGHTED AVERAGE EXCHANGE VALUE INDICES, MAR 1973 = 100 (G-10 COUNTRIES PLUS SWITZERLAND) U.S. DOLLAR GERMAN MARK JAPANESE TEN DUTCH GUILDER U.K. POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC BELGIAN FRANC ITALIAN LIRA SWEDISH KRONA SEPT. SEPT. SEPT. SEPT. SEPTSEPT. SEPT. SEPT. SEPT. SEPT. SEPT. CHART 2. 3-MONTH FORWARD EXCHANGE RATES, PREMIUM OR DISCOUNT CANADIAN DOLLAR 0.1. POUND GERMAN MARK FRENCH FRANC SWISS FRANC DUTCH GUILDER JAPANESE YEN ITALIAN LIRA SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. SERIES NAME LAST VALUE PLOTTED DATE VALUE CHART 3. GOLD PRICE IN LONDON. AFTERNOON FIXING U.S. DOLLARS PER FINE OUNCE SEPT. 10 414.53 CHART 4. CALL HONE! RATES SEPT. SEPT. SEPTSEPT. SEPT. 10 10 10 10 10 10 10 10 10 5.82 5.84 9.82 8.10 4.43 4.66 7.00 5. 13 1.00 SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. 10 10 10 10 10 10 10 10 10 5.63 4.42 4.68 8.27 9.90 4. 05 7.00 5.09 6.42 SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. 10 10 10 10 10 10 5.84 5.38 5.90 5.79 5.79 5.93 OVERNIGHT EURO-DOLLAR DEPOSITS U.S. FEDERAL FUNDS DIFFERENTIAL SEPT. 10 SEPT. 10 SEPT. 10 5.84 5.82 0.02 3-MONTH EURO-DOLLAR DEPOSIT RATE U.S. 90-DAY CD'S, SECONDARY MARKET DIFFERENTIAL SEPT. 10 SEPT. 10 SEPT. 10 5.79 5.63 0.16 U.S. FEDERAL FUNDS OVERNIGHT EURO-DOLLAR DEPOSITS U.K. CANADA GERMANY JAPAN FRANCE NETHERLANDS SWITZERLAND SEPT. SEPT. SEPT. SEPT. CHART 5. 3-MONTH INTEREST BATES U.S. 90-DAY 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 RATE (G-10 COUNTRIES PLUS SWITZERLAND) CHART 6. EURO-DOLLAR DEPOSIT RATES: LONDON OVERNIGHT 7-DAY 1-MONTH 3-MONTH 6-HO NTH 1-YEAR CHART 7. SELECTED EURO-DOLLAR AND U.S. MONEY MARKET RATES SERIES NAME LAS 1? VALUE PLOTTED DATE VALUE CHART 8. INTEREST ARBITRAGE, 3-MONTH FUNDS ( EURO-DOLLAR DEPOSIT INTERBANK STERLING (LONDON), COVERED DIFFERENTIAL SEPT. 10 SEPT. 10 SEPT. 10 5.79 5.85 -0.06 U.S. COMMERCIAL PAPER CANADIAN FINANCE PAPER, COVERED DIFFERENTIAL SEPT. 10 SEPT. 10 SEPT. 10 5.59 5.75 -0.16 EURO-DOLLAR DEPOSIT INTERBANK DM (FRANKFURT) , COVERED DIFFERENTIAL SEPT. 10 SEPT. 10 SEPT. 10 5.79 5.84 -0.06 EURO-DOLLAR DEPOSIT SilSS INTERBANK, COVERED DIFFERENTIAL SEPT. 10 SEPT. 10 SEPT. 10 5.79 5.77 0.02 CHART 9. LONG TERM GOVERMENT BOND YIELDS UNITED STATES GERMANY JAPAN (MONTHLY) SWITZERLAND CANADA FRANCE NETHERLANDS (MONTHLY) UNITED KINGDOM SEPT. SEPT. SEPT. AUG. AUG. AUG. JULY SEPT. 5 5 5 29 29 29 5 7.18 5.59 4.75 4.26 9. 16 8.05 6.22 9. 24 U.S. CORPORATE AAA BONDS JUSE 9. 13 CHART 10. STOCK INDICES UNITED STATES UNITED KINGDOM CANADA GERMANY SSIT2ERLAMD NETHERLANDS FRANCE JAPAN SEPT. SEPTSEPT. SEPT. SEPT. SEPT. SEPT. SEPT. 3 3 3 3 3 3 3 3 2541.37 291.22 302.89 299.62 190.28 358.52 408.23 401. 42 FEDERAL RESERVE statistical release H.10 (512) SEPTEHBEfc 12, 19db FOREIGN EXCHANGE RATES FOE TUB WEEK ENDING SEPTEHflfifi U , 198b 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: COUNTS* MONETARY UNIT •AUSTRALIA AUSTRIA BELGIUM BRAZIL CANADA CHINA,P.R. DENMARK FINLAND FRANCE GERMANY GREECE HONG KONG INDIA •IRELAND ITALY JAPAN MALAYSIA NETHERLANDS •NEW Z E A L A N D NORWAY PORTUGAL SINGAPORE •SOUTH AFRICA S O U T H KOREA SPAIN SRI L A N K A SWEDES SWITZERLAND TAINAN THAILAND • U N I T E D KINGDOM DOLLAR SCHILLING FRANC CRUZADO DOLLAR YUAN KRONE MARKKA FRANC D. MARK DRACHMA DOLLAR RUPEE POUND LIRA YEN RINGGIT GUILDER DOLLAR KRONE ESCUDO DOLLAR RAND SON PESETA RUPEE KRONA FRANC DOLLAR BAHT POUND MEMO: IUNITED S T A T E S DOLLAR SEP. o h 55 14. 580 42. 910 13. 8 4 1, 3850 3. 7129 7 . 8450 4. 9670 6, 7770 2 . 0720 135. 250 7. 8020 12, 6 1 0 0 133, 10 1430, 00 15b, 15 2, 60b0 2 . 3365 47, 850 7, 3740 147, 250 2, 1730 41, 75 8*3.,80 135,,400 28, 265 6, 9625 1, 6898 36,,940 26, 140 148, 65 108.12 C U R R E N C Y UNITS PJBfi DOLLAR I SEP. SEP. 10 61.3 1 135, 800 7. 8 0 5 5 60.75 14.485 42.700 13.84 1.3871 3.7129 7.8150 4.9420 6.7485 2. 0638 135.800 7.8055 133, 5 5 1421, 00 155. 70 2.6060 2- 3235 47, 4 5 0 7, 3560 147, 000 2. 1740 41, 75 884. 3 0 135, 000 28, 273 6, 9*05 1, 6750 36, 930 133.41 1424.00 154.80 2.6030 2.3280 46. 950 7.3640 147. 3 5 0 2. 1745 41.95 884. 10 134.850 28.270 6. 9460 1.6745 36. 920 14. 500 42. 660 13, 8 4 3815 3. 7129 7. 8030 4, 9330 6 . 7310 1. 2, 0600 12. 6200 26, 180 12.6200 26. 160 148, 40 148.15 107.65 107.75 SEP. 11 61. 75 14. 480 43. 330 13. 8 4 3885 3. 7129 7. 9250 4 . 9970 6.8360 2.0920 137. 250 7. 8UbO 12, 6400 131, 70 1444. 00 15b. 40 2.6090 2. 3o05 47. 550 7. 4310 149, 050 2- 1800 41, 70 883. 20 136, 650 28, 273 7, 0 1 1 0 6995 36, 910 26. 150 14b, 95 1. 1. 108.9b sap. 12 6 1.9o 1 4 . 49 b 4 2 . 680 1 3 . 84 3805 3 . 7129 7 . 8100 4 . 9475 b . 7450 Ob 10 1 3 6 . 100 7 . 8035 12. b700 1 3 3 . 00 1 4 2 2 . 00 1 3 5 . 35 6100 32b0 4 8 . 100 7 . 3b00 1 4 7 . 500 2.1700 4 2 . 20 8 8 3 . 70 1 3 5 . 300 28.28 3 9500 6710 3 6 . 900 26.170 1 4 7 . 60 1. 2. 2. 2. 6. 1. 107.77 IIHDEI OF W E I G H T E D ATEBAGE KiCHAlflE VALUE OF U.S. DOLLAR A G A I N S T C U R R E N C I E S OF OTHER J-10 COUNTRIES. M A R C H 1973 = 100. WEIGHTS ARE 1972-76 G L O B A L T R A D E OF EACH OF THE 10 COUNTRIES SEBI BS B E V I S E D IS OP AUGUST 1978. POB DESCBIPTION AMD BACK DATA, S E E - INDEX Of THE WBIGHTBD-AfEBAGE E X C H A N G E V A L U E Of THE U . S . DOLLAi: R E V I S I O N " ON PAGE 700 Of THE AUGUST 1978 P E D E B A L R E S E R V E BULLETIN. • V A L U E IS U.S. C E N T S
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