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(516/517) Selected Interest & Exchange Rates Weekly Series of Charts September 25,1989 DIVISION OF INTERNATIONAL FINANCE Prepared by the FINANCIAL MARKETS SECTION BOARD OF GOVERNORS FEDERAL RESERVE SYSTEM Washington, DtC. 20551 Table of Contents TABLES 1. LATEST FIGURES PLOTTED 2. DAILY CERTIFIED S P O T EXCHANGE RATES— H.10 RELEASE CHARTS 1. S P O T EXCHANGE RATE INDICES 2 3-MONTH FORWARD EXCHANGE RATES 3. GOLD P R I C E - L O N D O N 4. CALL MONEY RATES 5. 3-MONTH INTEREST RATES 6. EURO DOLLAR DEPOSIT RATES 7. S E L E C T E D EURO-DOLLAR AND U.S. MONEY MARKET RATES 8. INTEREST ARBITRAGE: 3-MONTH F U N D S 9. LONG-TERM G O V E R N M E N T BOND YIELDS 10 INDUSTRIAL STOCK INDICES SUBSCRIPTION RATES: W e e k l y $24.00 p e r y e a r or $.60 e a c h in t h e United S t a t e s , its p o s s e s s i o n s , C a n a d a , a n d Mexico; 10 or m o r e of t h e s a m e i s s u e t o o n e a d d r e s s , $22.50 per y e a r or $.55 e a c h . E l s e w h e r e . $30.00 per year or $.70 e a c h . A d d r e s s r e q u e s t s to Publications Services. Division of A d m i n i s t r a t i v e S e r v i c e s , a n d m a k e paym e n t r e m i t t a n c e p a y a b l e t o t h e o r d e r of t h e B o a r d of G o v e r n o r s of t h e F e d e r a l R e s e r v e S y s t e m in a f o r m c o l l e c t i b l e at par in U.S. C u r r e n c y . CHART 1 SPOT EXCHANGE INDICES DOLLAR PRICES OF FOREIGN CURRENCIES AND WEIGHTED AVERAGE VALUES (THIN LINE) AVERAGES FOR WEEK ENDING WEDNESDAY RATIOS GALE MARCH 197: 1-100 SCALE 41973=100 140 120 140 FOREIGN CURRENCY PRICE OF U.S. DOLLAR BELGIAN FRANC 120 100 100 90 90 80 80 70 70 280 280 240 SWISS FRANC - JAPANESE YEN 240 200 200 180 180 160 160 140 140 120 120 100 100 CANADIAN DOLLAR 90 80 90 U.K. POUND 80 70 70 60 60 50 I I I I I I I I I I I 50 I 200 180 200 GERMAN MARK DUTCH GUILDER 180 160 160 140 140 120 120 100 100 120 60 ITALIAN LIRA 100 90 50 FRENCH FRANC 45 80 40 70 35 60 30 50 25 1987 1989 1987 1989 CHART 2 3-MONTH FORWARD EXCHANGE RATES PREMIUM (+) OR (-) AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER ANNUM PERCENT PER ANNUM 4 4 U. K. POUND CANADIAN DOLLAR / W V V ' ^ \ i i I i I GERMAN MARK I I I I iilnliiln I I I I I I I I I DUTCH GUILDER vA I I ~ SWI SS FRANC I I JAPANESE YEN \ A I I lllllllllll - iiiiiiiiiii I I I ITALIAN LIRA FRENCH FRANC — 4 - 8 12 12 ~ 1987 1989 1987 1989 CHART3 PRICE OF GOLD IN LONDON A V E R A G E S F O R WEEK ENDING W E D N E S D A Y U.S. LLARS PER FINE OUNCE U.S. DOLLARS PER FINE O INCE 520 520 500 500 1 2 . 5 Kg B A R S 480 480 AFTERNOON FIXING PRICE 460 460 440 440 420 420 400 400 380 380 360 360 340 340 320 320 i 300 1986 1987 1988 i I i i I 1989 i i I i i 300 CHART4 CALL MONEY RATES WEEKLY SERIES PERCENT PER ANNUM PERCENT PER ANNUM U.S. FEDERAL FUNDS FRANCE JAPAN 16 16 CANADA 12 GERMANY 8 4 JJLJLLL 0 16 UNITED KINGDOM SWITZERLAND 12 8 4 NETHERLANDS /V 0 ' Jllllllll 1987 1989 1987 1989 CHARTS 3-MONTH INTEREST RATES WEEKLY SERIES PERCENT PER ANh JM ENT PER ANNUM 12 12 FRENCH INTERBANK RATE 10 10 U.S. CD'S 8 8 6 6 WEIGHTED AVERAGE FOREIGN RATE 4 4 I 2 I I 2 16 14 16 U.K. INTERBANK STERLING - 14 - 12 CANADIAN FINANCE CO. PAPER f 12 10 10 8 - I 6 I I I I I 6 8 6 8 8 GERMAN INTERBANK RATE - SWISS INTERBANK RATE jJ — 4 6 4 2 — 0 I I I I I 2 0 I 10 10 8 8 JAPANESE GENSAKI RATE 6 6 4 4 2 I I I I 1987 I 2 1989 1987 1989 CHART 6 EURO-DOLLAR DEPOSIT RATES LONDON AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER ANI UM PEI SENT PER ANNUM 14 12 14 OVERNIGHT 3-MONTH 12 10 10 8 8 6 6 4 4 14 14 12 7-DAY 6-MONTH 12 10 10 8 8 6 6 4 4 14 14 12 1-MONTH 1-YEAR — — 12 10 1p 8 8 6 6 I 4 1987 1989 I I I I 1987 I 4 1989 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 14 14 12 12 10 10 3-MONTH FEDERAL FUNDS EURO-DOLLAR DEPOSITS DASHED LINE OVERNIGHT I I 6 - 4 90-DAY CD'S DASHED LINE EURO-DOLLAR DEPOSITS I - 1111111111111111111111 2 I I I I I I I 2 DIFFERENTIAL DIFFERENTIAL - f\rf^vrK^ 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 I I I 1987 1 PERCENT ON DIFFERENTIAL SCALE = 2 PERCENT ON RATE SCALE 1989 I I I I I I 1987 11111111111 11111111111 1989 CHARTS INTEREST ARBITRAGE: 3-MONTH FUNDS DIFFERENTIAL: PLUS(+), INDICATES FAVOR DOLLAR ASSETS AVERAGES FOR WEEK ENDING WEDNESDAY ENT PER ANNUM PERCENT PER ANh 16 16 12 INTERBANK STERLING 12 CANADIAN FINANCE CO. PAPER, COVERED COVERED LONDON 8 8 4 EURO-DOLLAR DEPOSITS U.S. COMMERCIAL PAPER DASHED LINE DASHED LINE 0 I I I I I 1 ii 1 I I 4 111 i l l 1111 ill 1111 l n l i 2 0 2 DIFFERENTIAL DIFFERENTIAL + + 0 0 UJ I 1 I II I II I I I 2 II1111 III 11 16 2 16 12 12 INTERBANK DM SWISS INTERBANK (SF) COVERED COVERED FRANKFURT 8 8 4 EURO-DOLLAR DEPOSITS EURO-DOLLAR DEPOSITS DASHED LINE DASHED LINE 0 I 4 I I I I I I H I I I I I I I I I I I0 I 1 I I II I I I I l l l l I I I I III I I I I I 2 2 DIFFERENTIAL DIFFERENTIAL + + 0 0 J-LLU 2 1987 _lU 1989 1 PERCENT ON DIFFERENTIAL SCALE = 2 PERCENT ON RATE SCALE I I I I 1987 I nliil nlilliiluhilli 1989 2 CHART9 LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES PERCENT PER ANNUM PERCENT PER ANNUM 14 UNITED STATES 12 10 - - 1 v X V 8 v 6 CANADA V u 1 1 1 i M i " iilnliili, " V lllllllllll 14 12 14 UNITED KINGDOM FRANCE 10 8 6 10 8 10 SWITZERLAND JAPAN 6 4 2 10 10 NETHERLANDS 8 GERMANY MONTHLY 6 4 2 1987 1989 1987 1989 CHART 10 INDUSTRIAL STOCK INDICES WEEKLY S E R I E S RATIO SCALE 1969*100 RATIO SCALE 1969-100 NETHERLANDS UNITED STATES U 400 — GERMANY JAPAN 300 — - / K f - - Vw / 250 — - - - - 200 — - - 150 1 1 1 I I I I I I 100 300 SWITZERLAND 250 r 200 150 100 FRANCE - — - I I I I I I ,, 600 — 500 - UNITED KINGDOM CANADA r v 400 300 200 - I I I i i 1987 f i 1989 1987 1989 SERIES FT 1 . LAST VALUE PLOTTED DATE VALUE NAME SPOT EXCHANGE BATES AND I N D I C E S WEEKLY AVERAGES, NOON BUYING BATES (U.S. CENTS) SEPT. 20 SEPT. 20 SEPT. 20 SEPT. 20 SEPT. 20 SEPT. 20 SEPT. 20 . SEPT. 20 SEPT. 20 S E P T . 20 GERMAN MARK JAPANESE YEN DUTCH GUILDER U . K . POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC BELGIAN FRANC I T A L I A N LIRA SWEDISH KRONA iICES, MARCH 1 9 7 3 BASE RATES = 100 SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. GERMAN MARK JAPANESE YEN DUTCH GUILDER U . K . POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC BELGIAN FRANC ITALIAN LIRA iGHTED AVERAGE EXCHANGE VALUE I N D I C E S , ( G - 1 0 COUNTRIES PLUS SWITZERLAND) U. S . DOLLAR GERMAN MARK JAPANESE YEN DUTCH GUILDER U . K . POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC BELGIAN FRANC ITALIAN LIRA SWEDISH KRONA ART 2 . 3-MONTH FORWARD EXCHANGE R A T E S , CANADIAN DOLLAR U . K . POUND GERMAN MARK FRENCH FRANC SWISS FRANC DUTCH GUILDER JAPANESE YEN ITALIAN LIRA 5 0 . 9b 0. 68325 4 5 . 20 156.42 8 4 . 41 15.09 58.98 2.43451 0. 07079 15.06 MAR 1 9 7 3 = 20 20 20 20 20 20 20 20 20 143.36 1 7 8 . 90 129.77 63.27 84.13 68.01 189.74 9 5 . 93 40.21 20 20 20 20 20 20 20 20 20 20 20 102.46 1 5 7 . 41 195.96 1 3 4 . 87 61.62 8 4 . 74 6 6 . 47 1 9 7 . 12 97.67 38.29 6 7 . 10 20 20 20 20 20 20 20 20 - 3. 32 -4.75 1.37 -0.44 1.07 1.11 3.13 -3.24 100 SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. PREMIUM OS DISCOUNT SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. SESIES CHUB? 3 . GOLD P R I C E I N U.S. CHART 4 . DOLLARS PER LAST VALUE PLOTTED DATE VALUE NAME LONDON, AFTERNOON F I X I N G F I N E OUNCE SEPT. 20 360.07 SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. 20 20 20 20 20 20 20 20 20 9. 8. 13. 12. 6. 5. 8. 7. 6. 05 84 76 20 89 21 73 22 38 SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. 20 20 20 20 20 20 20 20 13 8. 7. 4. 12. 13. 7. 9. 7. 8. 70 39 88 33 90 50 20 54 71 SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. 20 20 20 20 20 20 8. 84 8.83 8 . 85 8.75 8. 70 8.69 CALL MONEY RATES U . S . FEDERAL FUNDS OVERNIGHT EURO-DOLLAR D E P O S I T S U. K. CANADA GERMANY JAPAN FRANCE NETHERLANDS SWITZERLAND CHART 5 . 3-MONTH I N T E R E S T RATES U . S . 9 0 - D A Y C D ' S , SECONDARY MARKET GERMAN INTERBANK LOAN JAPANESE GENSAKI RATE CANADIAN FINANCE PAPER INTERBANK STERLING SWISS INTERBANK LOAN FRENCH INTERBANK RATE NETHERLANDS INTER BANK RATE WEIGHTED AVERAGE FOREIGN I N T E R E S T RATE ( G - 1 0 COUNTRIES PLUS SWITZERLAND) CHART 6 . EURO-DOLLAR D E P O S I T RATES: LONDON OVERNIGHT 7-DAY 1-MONTH 3-MONTH 6-MONTH 1-YEAR . SELECTED EURO-DOLLAR AND U . S . MONEY MARKET RATES OVERNIGHT EURO-DOLLAR D E P O S I T S U . S . FEDERAL FUNDS DIFFERENTIAL SEPT. SEPT. SEPT. 20 20 20 8 . 84 9.05 -0.21 3-MONTH EURO-DOLLAR D E P O S I T RATE U . S . 9 0 - D A Y C D ' S , SECONDARY MARKET DIFFERENTIAL SEPT. SEPT. SEPT. 20 20 20 8. 75 8.70 0.05 L A S T VALUE PLOTTED DATE VALUE S E R I E S NAME CHART 8 . INTEREST ARBITRAGE, 3-MONTH FUNDS EURO-DOLLAR D E P O S I T INTERBANK S T E R L I N G (LONDON), DIFFERENTIAL U . S . COMMERCIAL PAPER CANADIAN FINANCE P A P E R , DIFFERENTIAL COVERED COVERED EURO-DOLLAR D E P O S I T INTERBANK DM (FRANKFURT) , DIFFERENTIAL COVERED EURO-DOLLAR D E P O S I T SWISS I N T E R B A N K , COVERED D I F F E R E N T I AL CHART 9 . 8. 75 8. 98 - 0 . 23 SEPT. SEPT. SEPT. 20 20 20 8. 63 8 . 90 - 0 . 27 SEPT. SEPT. SEPT. 20 20 20 8. 75 8. 79 - 0 . 04 SEPT. SEPT. SEPT. 20 20 20 8. 75 8 . 59 0 . 16 SEPT. SEPT. SEPT. SEPT. AUG. SEPT. MAY SEPT. 8 15 15 15 25 1 8 . 17 7.07 5 . 22 5.39 9. 58 8.84 7.37 9.26 15 CORPORATE AAA BONDS CHART 1 0 . 20 20 20 LONG TERM GOVERMENT BOND Y I E L D S UNITED STATES GERMANY JA PAN SWITZERLAND CANADA FRANCE NETHERLANDS (MONTHLY) UNITED KINGDOM U.S. SEPT. SEPT. SEPT. HAT 9.33 STOCK I N D I C E S UNITED STATES UNITED KINGDOM CA NAD A GERMANY SWITZERLAND NETHERLANDS FRANCE JAPAN SEPT. SEPT. SEPT. SEPT. SEPT. 3EPT. SEPT. SEPT. 20 20 20 20 20 20 20 20 365. 429. 386. 290. 274. 369. 545. 693. 52 22 91 11 39 35 99 55 FEDERAL RESERVE statistical release RV H.10(512) SEPTEMBER 2 5 , 1989 FOREIGN EXCHANGE RATES FOR THE WEEK ENDING SEPTEMBER 2 2 , 1989 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 COUNTRY ^AUSTRALIA AUSTRIA BELGIUM CANADA CHINA,P.R. DENMARK FINLAND FRANCE GERMANY GREECE HONG KONG INDIA *1RELAND ITALY JAPAN MALAYSIA NETHERLANDS *NEW ZEALAND NORWAY PORTUGAL SINGAPORE SOUTH AFRICA SOUTH KOREA SPAIN S R I LANKA SWEDEN SWITZERLAND TAIWAN THAILAND • U N I T E D KINGDOM DOLLAR SCHILLING FRANC DOLLAR YUAN KRONE MARKKA FRANC D . MARK DRACHMA DOLLAR RUPEE POUND LIRA YEN RINGGIT GUILDER DOLLAR KRONE ESCUDO DOLLAR RAND WON PESETA RUPEE KRONA FRANC DOLLAR BAHT POUND MEMO: SUNITED STATES DOLLAR SEP. 18 77.56 13.767 40.890 1.1840 3.7314 7.6025 4.4150 6.5910 1.9525 170.700 7.8100 16.8000 136.40 1405.50 145.85 2.6980 2.2013 59.100 7.1325 163.550 1.9830 2.8220 673.00 122.150 40.018 6.6100 1.6850 25.790 26.030 156.85 102.04 (CURRENCY U N I T S PER DOLLAR) SEP. 19 SEP. 20 77.52 13.743 40.880 1.1836 3.7314 7.5990 4.4050 6.5900 1.9495 169.200 7.8090 16.8000 136.15 1408.50 145.65 2.6985 2.1984 59.170 7.1220 163.450 1.9800 2.8160 672.90 122.050 40.018 6.6100 1.6875 25.785 26.020 157.35 101.95 77.50 13.665 40.640 1.1828 3.7314 7.5530 4.3950 6.5630 1.9415 169.000 7.8080 16.7700 137.70 1400.50 145.05 2.6960 2.1887 59.270 7.0875 162.700 1.9800 2.7980 672.78 121.400 40.018 6.5850 1.6805 25.720 26.030 158.15 101.53 SEP. 21 77.23 13.680 40.710 1.1845 3.7314 7.5650 4.4000 6.5725 1.9440 168.800 7.8075 16.7700 137.15 1401.00 145.35 2.6955 2.1917 59.100 7.1025 162.750 1.9800 2.7975 672.68 121.500 40.018 6.5950 1.6837 25.690 26.000 158.05 101.66 SEP. 22 78.33 13.730 40.830 1.1808 3.7314 7.5915 4.4040 6.5940 1.9500 168.900 7.8070 16.8000 136.60 1404.25 145.60 2.6980 2.1994 59.400 7.1100 163.450 1.9810 2.7980 672.57 121.800 40.018 6.5990 1.6890 25.675 26.010 157.55 101.89 S I N D E X OF WEIGHTED AVERAGE EXCHANGE VALUE OF U . S . DOLLAR AGAINST CURRENCIES OF OTHER G - 1 0 C O U N T R I E S . MARCH 1 9 7 3 = 1 0 0 . WEIGHTS ARE 1 9 7 2 - 7 6 GLOBAL TRADE OF EACH OF THE 1 0 COUNTRIES. S E R I E S REVISED A S OF AUGUST 1 9 7 8 . FOR D E S C R I P T I O N AND BACK DATA, SEE "INDEX OF THE WEIGHTED-AVERAGE EXCHANGE VALUE OF THE U . S . DOLLAR: R E V I S I O N " ON PAGE 7 0 0 OF THE AUGUST 1 9 7 8 FEDERAL RESERVE B U L L E T I N . *VALUE I S U . S . CENTS
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