Full text of H.13 Selected Interest and Exchange Rates, Weekly Series of Charts : September 19, 1994

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

(516/517)

Selected Interest 8f
Exchange Rates
Weekly Series of Charts

September 19,1994

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.
2.
3.
4.
5.
6.
7.

SPOT EXCHANGE RATE INDICES
3-MONTH FORWARD EXCHANGE RATES
GOLD PRICE—LONDON
CALL MONEY RATES
3-MONTH INTEREST RATES
EURO DOLLAR DEPOSIT RATES
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




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 order of th *• 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 SC/
MARCH 1973==100

CALE
1973=100
120

1145

FOREIGN CURRENCY
PRICE OF U.S. DOLLAR

110

100

1135
1125
115
1
105
1

90
80

95
S

BELGIAN FRANC

85
I

70
60

I

I

I

I

'

'

'

I

I

I

I

I

I

I

» I

I

I

I

1

I

1

1

'

1

'

I

•

'

'

290
270
250

—

75
280
260
t

—

<

—

;

—

:

230
210

SWISS FRANC

» I

1 I

200

160

170
150

220

180

JAPANESE YEN

190

240

I

I

I

I

I

I

I

I

I

140

I

100

85

90

75

80

65

70
U.K. POUND

55

'

i '

i '

60

CANADIAN DOLLAR

1 1 1 '

•

1 1 1 1 1 1

I

'

'

I

1

1

1

1

1

1

1

1

50
250
230
210

190
170
GERMAN MARK

DUTCH GUILDER

» I

I

I

I

I

I

I

I

I

I

I

I

I

I

I

_L_L

I

I

I

I

I

150

I

I

I

I

I

I

130
65
55
45

35
—

ITALIAN LIRA

FRENCH FRANC

'

I




I

I

I

I
1992

1

I

1

1

1

'

'

'
1994

•

I

'

I

•

I
1992

1

1

1

1

1

1

1

1

1

1994

25

CHART2

3-MONTH FORWARD EXCHANGE RATES
PREMIUM (+) OR (-)
AVERAGES FOR WEEK ENDING WEDNESDAY
PERCENT PER ANNUM
2

PERCENT PER ANNUM

2

U.K. POUND

CANADIAN DOLLAR

JAPANESE YEN

wy
i

i

i

i

i

i

i

i

i

v

i

l

i

/

l

-

i

i

i

i

SWISS FRANC

i

i

l

'

i

•

I

•

» i

•

i

i

i

i

» •

•

'

•

i

i

DUTCH GUILDER

2
4
6
1

8
2
+

1

1

1

1

1

1

1

1

1 i

l

J
J \ MT

4 —
A

—

8 —

12

i
ITALIAN LIRA

2

10

i

FRENCH FRANC

0

6

i

/

—

—

'

II MAmT

—

•

i

i




i

i

i

i i
1992

i

i

i

1

1

1

1 1
1994

'

« I

'

1992

« »
1994

CHART 3

PRICE OF GOLD IN LONDON
AVERAGES FOR WEEK ENDING WEDNESDAY
U.S. DOLLARS PER FINE OUNCE
420

U.S. DOLLARS PER FINE OUNCE
420

12.5 Kg BARS
AFTERNOON FIXING PRICE

400

400

380

380

360

360

340

340

320

j

i
1991




i

L

J
1992

I

I

I

L
1993

J

I

I
1994

L

320

CHART 4

CALL MONEY RATES
WEEKLY SERIES
)ENT PER ANNUM

PERCENT PER ANI

8

10

SWITZERLAND
8
U.S. FEDERAL FUNDS

6

6

4
4

JAPAN
2

2

'

i

i

I

i

< '

I

i

i

i

I

i

i

i

I

i

i

i

I

i

i

i

I

i

i

i

10

0
10

9

9

8

8
GERMANY

7

7

NETHERLANDS

6

6

5

5

i

4

I

i

i

i

l

i

i

i

i

i

'

i

i

i

I

i

i

i

I

i

i

i

I

J_L

16

14

4
14

12

FRANCE

12

10

CANADA

10

8

8

6

6

4
UNITED KINGDOM

4

2

i

•

'




I

i

'
1992

i

I

i

i

'

2

I

'

i
1994

•

I

I
1992

» i

i

I

I
1994

I

0

CHART 5

3-MONTH INTEREST RATES
WEEKLY SERIES
PERCENT PER AW

ENT PER ANNUM

13

12
WEIGHTED AVERAGE
FOREIGN RATE

10

11
CANADIAN FINANCE PAPER

8

9

6

7
U.S. CD'S

4

5

2
16

3
11

U.K. INTERBANK STERLING

13

9

7

10

NETHERLANDS INTERBANK RATE

7

5

3
13

4

9
JAPANESE CD RATE

7

11

9

5
FRENCH INTERBANK RATE

3

7
5

1
10

12

10

8

6

8

SWISS INTERBANK
GERMAN INTERBANK RATE

6

4

2

i

'

i

I




i

i
1992

i

I

i

i

i

I

i

i
1994

i

'

'

'

I

i

'
1992

'

I

'

'

'

I

'

'
1994

4

CHART6

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

PERCENT PER ANNUM

10

10
3-MONTH

OVERNIGHT

_L_L i

2

I

i

i

i

I

I

l

l

I

I

I

i

•

1

I

i

i

i

I

'

i

i

I

i

i

i

2
10

i

I

i

< i

2
10

10

6-MONTH

7-DAY
8

—

6

—

2
10

I

I

» » i

I

i

I

« i

i

I

» i

»

i

i

I

i

i

i

l

i

i

1-YEAR

1-MONTH

8 —

•

6 —

— 4

4 —

i

'

i

i




'

1

1992

1

i

1

1

1

I

1

*

i

1994

••i •' i l i » i

1992

1994

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

10

10

8

—

6 —

3-MONTH

OVERNIGHT

EURO-DOLLAR DEPOSITS

EURO-DOLLAR DEPOSITS

4 ——
90-DAY CD'S

FEDERAL FUN

DASHED LINE

DASHED LINE

j

i

i

I

i

i

i

I

i—i—i—I

J

•

L

1

l

»

1

i

I

I

I

I

I

i

I

I

1

i

i

1

L

DIFFERENTIAL

DIFFERENTIAL

C&Xl

I




i

I

I

I

I
I
1992

I

I

I

I—I—I—I—L
1994

I ' l l

L_J

1992

I

I I I

1994

CHART 8

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

PERCENT PER ANNUM

8

8

CANADIAN FINANCE
CO. PAPER, COVERED

INTERBANK STERLING
COVERED LONDON

>

U.S. COMMERCIAL PAPER

EURO-DOLLAR DEPOSITS

DASHED LINE

DASHED LINE

1 I

COVERED FRANKFURT

•




'
1992

» I

I

I

» 1 1

I

'

•

•

I

•

•

1

1

1

•

I

'

•

•

DIFFERENTIAL

DIFFERENTIAL

'

I

DASHED LINE

DASHED LINE

I

I

EURO-DOLLAR

EURO-DOLLAR DEPOSITS

I

I

SWISS INTERBANK (SF) COVERED

INTERBANK DM

I

I

DIFFERENTIAL

DIFFERENTIAL

I

•

'

'

I

I

'

'
1994

'

'

'

» I

i

•
1992

•

1

1

'

1

1

1994

11

CHART 9

LONG-TERM GOVERNMENT BOND YIELDS
WEEKLY SERIES
PERCENT PER ANN I

RCENT PER ANNUM

11

9

UNITED KINGDOM

UNITED STATES
8

9
7

6

7

5
4
11

< '

i

I

i

i

i

I

i

i

i

i

'

i

I

i

i

i

I

i

i

i

I

» i

5

10
FRANCE

CANADA
10

8

9

8

6

7

6

'

i

i

l

'

i

i

l

i

i

i

l

i

i

'

4
7

8

SWITZERLAND

JAPAN

7

6

6

5

5

4

4

3

'

3
10

I

I

» I

I

I

I

I

•

•

i

'

I

i

i

i

I

'

I

i

I

i

i

i

2
10

NETHERLANDS

GERMANY

9

9

8

8

7

7

6

6

5

I

I

I




I

I

•
1992

I

I

I

I

I

I

I

I
1994

'

•

'

•

I

•

» i
1992

I

i

i

i

i

i

i
1994

i

5

CHART 10

STOCK INDICES
WEEKLY SERIES
RATIO SCALE
1986=100

RATIO SCALE
1986=100

220

— UNITED KINGDOM

UNITED STATES

ARAN

SWITZERLAND

GERMANY

CANADA

FRANCE

NETHERLANDS

'

'

'

l




i

1

1992

1

i

1

1

1

I

1

1

1

1994

1992

1994

17-Aug-94 24-Aug-94 31-Aug-94 7-Sep-94
Chart 1.

14-Sep-94

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

3.1109
72.501
18.699
64.159
0.06281
0.99634
57.118
76.347
154.19

3.1467
72.648
18.935
64.912
0.06366
1.01534
57.821
77.156
155.04

3.0921
72.984
18.601
63.699
0.06313
1.00021
56.743
75.406
153.88

3.1193
73.110
18.756
64.269
0.06348
1.00795
57.287
76.591
154.67

3.1422
73.425
18.903
64.727
0.06368
1.00870
57.715
77.644
155.86

122 .59
72 .26
84 .26
180 .49
36 .05
260 .87
163,.97
245..62
62..36

124 .00
72 .41
85 .33
182 .60
36 .54
265 .85
165 .99
248 .22
62 .71

121 .84
72 .74
83 .82
179 .19
36 .24
261 .89
162 .90
242 .59
62 .24

122 .92
72 .87
84 .52
180 .79
36 .44
263 .91
164 .46
246 .40
62 .56

123 .82
73 .18
85 .18
182 .08
36 .55
264 .11
165 .69
249 .79
63 .04

112 .24
64 .53
74 .43
180 .77
30 .15
266 .24
153 .32
51 .48
227 .24
53 .75
89 .39

112 .58
64 .24
74 .64
181 .42
30 .14
266 .78
153 .93
51 .56
229 .52
53 .70
88 .72

112 .86
64 .19
74 .87
181 .89
30 .08
265 .53
154 .34
51 .98
231 .59
53 .86
88 .16

-0 .55
-0 .67
-0 .02
-4 .00
2 .75
-0 .01
0 .64
-0 .47

-0 .52
-0 .68
-0 .04
-3 .63
2 .64
-0 .03
0 .65
-0,.54

-0 .71
-0 .66
-0 .04
-3 .72
2 .60
-0 .03
0 .72
-0 .52

-0 .59
-0 .59
-0 .03
-3 .68
2 .65
-0 .04
1,.00
-0,.58

377..18

382 .06

385..22

387,.38

390,.65

4.
,35
4 .33
5. 00
5. 27
4. 82
2. 08
4. 87
3. 83
4 .65

4.
.66
4.
.60
4,
.98
5..25
4.
.79
2..05
4.
,87
3..75
4 .55

4.
.72
4.
.68
5..20
5.,25
4 .68
2. 09
4 .83
3. 83
4 .59

4.
.74
4.
.66
5..09
5..26
4..88
2..09
4..84
3.,80
4 .63

4.
.70
4.
.66
5..00
5..25
4. 88
2. 13
4. 88
3. 45
4 .78

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

112 .82
63 .98
74 .78
182 .08
29 .95
264 .73
154 .22
50 .52
229 .88
53 .80
89 .25

113 .08
63 .49
75 .05
182 .61
30 .08
267 .61
154 .71
51 .18
230 .20
53 .58
88 .21

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

Gold Price in London,

U.S. dollars per fine ounce
Chart 4.

-0 .73
-0 .80
-0 .07
-4 .64
,
,
2 .70
-0..08
0..53
-0..69
Fixing

Call Money Rates

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




17-Aug-94 24-Aug-94 31-Aug-94 7-Sep-94
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.

14-Sep-94

.39
.00

87
63
50
90
32
89
4.19
5.36
4 96

4.87
5.81
5.50
4.90
2.32
4.92
4.18
5.44
4.99

4.94
5.82
5.49
4.92
2.32
4.96
4.00
5.48
4.99

4 .60
4.65
4.69
4.88
5.19
5.68

4.68
4.68
4.71
4.86
5.18
5.68

4.66
4.70
4 .75
4 .88
5. 20
5 ,70

4.66
4.69
4.75
4.91
5.28
5.80

.68

4.66
4.74

-0.08

4 .66
4.70
-0.04
4.91
4.94
-0.03

4 .82
5.78
5.50
4.89
2.29
4.91
4 .30
5.54
5 .03

4.88
5.68
5.52
4.90
2.29
.87

4.33
4.41
4.58
4.81
5.23
5.71

.18

Euro-Dollar Deposit Rates

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

Selected Euro-dollar & U.S. Money Market Rates
4.33
4 .35

Overnight Euro-dollar deposits
U,S. federal funds
Differential

4.60
4 .66

.72
-0.04

-0.02

-0.06

4.81
4.82

4.88
4.88

.86

-0 .01

-0 .01

.01

4.88
4.87
0.00

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

4 .81
4 .84
-0. 03

4 .88
4 .92
-0. 04

4 .86
4 .81
0. 05

4 .88
4 .91
-0. 04

4 .91
4 .89
0 .02

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

, 87
4.
5 . 04
-0..16

.91
4.
.13
5.
-0..22

.89
4.
5..11
-0..21

4.
,90
.10
5.
-0..20

,95
4.
.22
5.
-0 .28
.

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

4.
, 81
4 . 82
-0 .00

4 .88
,
4 .88
-0 .00

4 .86
4 .86
0 .01

4 .88
,
4 .86
0 .02

4 .91
,
4 .89
0 .03

Euro-dollar deposit
Swiss interbank, covered
Differential

4 . 81
4 . 84
-0 .03

4 .88
4 .82
0 .06

4 .86
4 .85
0 .02

4 .88
4 .91
-0 .03

4 .91
5 .01
-0 .10

9 . 01
7 . 72
7 . 18
4 .57
.
5 .23
.
7 .20
8 .59
7 .25

8 .86
.
7 .89
.
7 .27
,
4 .54
.
5 .33
7 .30
8 .68
7 .27

8..70
.85
7.
.22
7.
4 .63
.
5 ,36
.
7 .28
8 .57
7 .23

8..83
.98
7.
7 .38
.
4 .60
,
5 .41
7 .38
8 .59
7 .24

8..90
8 .07
.
7 .53
.
4 .48
,
5 .44
7 .49
8 .74
7 .41

140.14
159.90
122.77
125.81
150.14
218.36
193.77
188.49

142.09
157.06
120.41
123.91
149.27
215.23
194.54
190.11

144.94
160.33
124.65
124.04
152.85
221.09
196.67
192.60

144.60
156.61
122.52
119.93
151.55
221.83
192.07
190.97

144.79
155.32
121.12
119.77
149.22
218.97
186.00
190.02

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 Bellwether Bond Yields
10-year maturity, where available

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

.87

Stock Indices

Canada
France
Germany
Japan
Netherlands
Switzerland
United Kingdom
United States

(Wednesday figures)

ri&Fisnssi.:

1

?.

Financial Times Ordinary, NYSE Composite



»SBF25°

FEDERAL RESERVE statistical release
H.10(5X2)

September 16, 1994

FOREIGN EXCHANGE RATES
FOR THE WEEK ENDING

SEPTEMBER 16, 1994

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:
MONETARY
UNIT

Sep. 12

*AUSTRALIA
AUSTRIA
BELGIUM
CANADA
CHINA,P.R.
DENMARK
*EURO COMMUNITY
FINLAND
FRANCE
GERMANY
GREECE
HONG KONG
INDIA
^IRELAND
ITALY
JAPAN
MALAYSIA
MEXICO
NETHERLANDS
*NEW ZEALAND
NORWAY
PORTUGAL
SINGAPORE
SOUTH AFRICA
SOUTH KOREA
SPAIN
SRI LANKA
SWEDEN
SWITZERLAND
TAIWAN
THAILAND
xUNITED KINGDOM

DOLLAR
SCHILLING
FRANC
DOLLAR
YUAN
KRONE
ECU
MARKKA
FRANC
D. MARK
DRACHMA
DOLLAR
RUPEE
POUND
LIRA
YEN
RINGGIT
PESO
GUILDER
DOLLAR
KRONE
ESCUDO
DOLLAR
RAND
WON
PESETA
RUPEE
KRONA
FRANC
DOLLAR
BAHT
POUND

0.7436
10.868
31.730
1.3662
8.5607
6.0820
1.2377
4.9635
5.2780
1.5405
234.77
7.7271
31.373
1.5430
1565.75
99.00
2.5530
3.4130
1.7280
0.6021
6.7695
157.03
1.4910
3.5525
804.00
128.040
49.250
7.4835
1.2820
26.210
24.970
1.5696

0.7442
10.893
31.870
1.3537
8.5596
6.1100
1.2324
4.9935
5.2940
1.5475
235.83
7.7273
31.373
1.5395
1569.75
98.96
2.5535
3.4170
1.7359
0.6022
6.7955
157.66
1.4876
3.5560
803.70
128.440
49.300
7.5220
1.2915
26.210
24.970
1.5623

0.7415
10.837
31.710
1.3516
8.5581
6.0795
1.2381
4.9780
5.2680
1.5395
234.54
7.7274
31.373
1.5480
1564.50
99.05
2.5535
3.4160
1.7264
0.6027
6.7620
157.08
1.4886
3.5510
803.20
127.990
49.230
7.5355
1.2780
26.200
24.960
1.5673

0.7435
10.892
31.870
1.3540
8.5565
6.1090
1.2316
4.9910
5.2885
1.5477
235.98
7.7275
31.375
1.5425
1564.75
99.45
2.5563
3.4150
1.7359
0.6037
6.7910
157.60
1.4887
3.5565
803.40
128.440
49.250
7.4985
1.2845
26.210
N. A.
1.5630

0.7442
10.797
31.590
1.3515
8.5552
6.0535
1.2419
4.9310
5.2520
1.5345
233.78
7.7275
31.370
1.5620
1551.25
98.72
2.5555
3.3980
1.7204
0.6040
6.7350
156.36
1.4830
3.5525
803.20
127.530
49.500
7.4127
1.2735
26.220
24.960
1.5840

MEMO:
t*UNITED STATES

DOLLAR

87.91

88.12

87.81

88.11

87.38

COUNTRY

(CURRENCY UNITS PER DOLLAR)
Sep. 13
Sep. 14
Sep. 15

Sep. 16

*VALUE IS 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 IS AVAILABLE ONLINE THROUGH THE FACILITIES OF THE DEPARTMENT OF COMMERCE'S
ECONOMIC BULLETIN BOARD. FOR INFORMATION, CALL (202) 482-1986.
FOR INFORMATION ABOUT YOUR SUBSCRIPTION TO THIS RELEASE OR ABOUT RECEIVING IT IN DOCUMENT
FORM, PLEASE CALL PUBLICATIONS SERVICES AT THE FEDERAL RESERVE BOARD AT (202) 452-3244.