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 Weekly Series of Charts September 26,1988 Prepared by the FINANCIAL MARKETS SECTION DIVISION OF INTERNATIONAL FINANCE 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 INDICES 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 V A L U E S (THIN LINE) AVERAGES FOR WEEK ENDING WEDNESDAY RATIO SCALE MARCH 197)3=100 RATIO SCALE MARCH 1 9 7 3 = 1 0 0 200 180 5 0 - FOREIGN CURRENCY PRICE OF U.S. DOLLAR 160 - ITALIAN LIRA 4 6 - 4 0 — 3 6 - — 3 0 - - 2 6 - ^ — — 140 120 100 - 80 I I i I i i 1 1 1 l l l l l l l l l l l l l l l l l l l l l l 2 0 — — 220 200 — — 180 - - — 1 8 0 - - 1 6 0 - 1 4 0 - 1 2 0 T" 1 0 0 160 - G E R M A N MARK 140 - 120 - 100 - 80 v / v ^ - y\j n i 1 1 1 - — 140 - — CANADIAN DOLLAR ^ — 7 ^ 70 60 - I 1 1 1 2 0 0 l l l l l l l l l l l 8 0 $ 8 0 j DUTCH GUILDER - x ^ — — - - UK. POUND w 1 4 0 — - 1j*0 t o o w - 1 1 1 1 1 - 9 0 T 8 0 - 7 0 6 0 1 j/\zw^ FRENCH FRANC - yVvvvv _/ 1 6 0 — — " 70 I 2 2 0 T — 1iiliilii1ii ~ ^ - 100 90 80 y — 120 - x j — I 160 80 ^ / - III II l u l l 1 180 - / - — 90 JAPANESE Y E N Z - ^ X x - - — • — — 90 80 7 0 60 — - 60 50 - v\r - - 50 40 I I I I I I niiihiiii 140 120 - - 100 y - 80 — 70 - z-r - - ysj 60 | || I I 1986 ^ - 240 I l l l l l l l l l l l l l l l l l l l l l l 1988 __ — - f\r — 4 0 280 SWISS FRANC " V 90 50 - BELGIAN FRANC l l l l l l l l l l l - 200 • - 180 - 160 - 140 - 120 i i i i i 1986 i llllllnlii l l l l l l l l l l l 1988 100 CHART 2 3-MONTH FORWARD EXCHANGE RATES PREMIUM (+) OR H A V E R A G E S FOR WEEK ENDING WEDNESDAY PERCENT PER ANNUM PERCENT PER ANNUM CANADIAN DOLLAR JAPANESE YEN 12 4 U. K. POUND 0 SWISS FRANC 4 8 8 DUTCH GUILDER GERMAN MARK 4 0 I ill I I I 4 4 ITALIAN LIRA FRENCH FRANC 0 4 8 12 1986 1988 1986 1988 CHART 3 PRICE OF GOLD IN LONDON A V E R A G E S FOR WEEK ENDING WEDNESDAY U.S. [ iLLARS PER FINE OUNCE U.S. DOLLARS PER FINE OUNCE 520 520 500 500 480 480 460 460 12.5 Kg BARS AFTERNOON FIXING PRICE 440 440 420 420 400 400 380 380 360 360 340 340 320 320 300 300 I I I I I I I I I 280 1985 1986 1987 280 1988 CHART 4 CALL MONEY RATES WEEKLY SERIES r PER ANNUM PERCENT PER Ah IUM 16 12 16 12 FRANCE U. S. FEDERAL F U N D S 8 8 4 4 0 I I I i ii ii 11 I I 0 I 16 16 CANADA 12 8 12 GERMANY 8 4 4 0 0 16 20 UNITED KINGDOM SWITZERLAND 16 12 12 8 8 4 NETHERLANDS 4 0 0 1986 1988 1986 1988 CHART 5 3-MONTH INTEREST RATES WEEKLY SERIES PERCENT PER AN NT PER ANNUM 16 12 10 CANADIAN FINANCE CO. PAPER - U.S. CD'S 14 8 - 6 10 WEIGHTED AVERAGE FOREIGN RATE 4 - I 2 14 I I I I I 14 - FRENCH INTERBANK RATE - 8 \ fK I 6 I I I I a - I 8 6 10 10 NETHERLANDS INTERBANK RATE - G E R M A N INTERBANK RATE 8 6 6 V 4 I I I J - 4 I I I I I I I I I 11 III h i l l i 2 8 10 8 « 10 10 2 8 6 UK. INTERBANK STERLING 12 8 12 JAPANESE GENSAKI RATE - SWISS INTERBANK RATE - 6 6 4 4 2 I I I 2 1986 1988 1986 Illllllllll 1988 0 CHART 6 EURO-DOLLAR DEPOSIT RATES LONDON A V E R A G E S FOR WEEK ENDING WEDNESDAY PERCENT PER 14 14 OVERNIGHT 3-MONTH 12 12 10 10 8 8 6 6 4 4 14 14 7-DAY 6-MONTH 12 12 10 $0 8 8 6 6 4 4 14 14 1-YEAR 1-MONTH 12 12 10 10 8 8 6 6 4 4 1986 1988 1986 1988 CHART 7 SELECTED EURO-DOLLAR AND U. S. MONEY MARKET RATES DIFFERENTIAL: PLUS(+), F A V O R S BORROWING IN U. S. AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER ANNUM PERCENT PER ANNUM 14 14 12 12 10 10 FEDERAL FUNDS DASHED LINE 3-MONTH EURO-DOLLAR DEPOSITS OVERNIGHT EURO-DOLLAR DEPOSITS 90-DAY CD' S DASHED LINE i I i i I i i I i i I i i I i i I i i I i i- 11111111111111111111111 2 2 DIFFERENTIAL DIFFERENTIAL - V 1111111111111111111111 1986 1 PERCENT ON DIFFERENTIAL SCALE = 2 PERCENT ON RATE SCALE 1988 »v y v V X A y I I I I I 1986 I 11111111111 11111111111 1988 CHART 8 INTEREST ARBITRAGE: 3-MONTH FUNDS DIFFERENTIAL: P L U S H , INDICATES FAVOR DOLLAR ASSETS A V E R A G E S FOR WEEK ENDING WEDNESDAY •NT PER ANNUM PERCENT PER AN 16 12 .16 INTERBANK STERLING 12 CANADIAN FINANCE CO. PAPER, C O V E R E D COVERED LONDON 8 8 EURO-DOLLAR DEPOSITS 4 U. S. COMMERCIAL PAPER DASHED LINE DASHED LINE 4 0 2 0 DIFFERENTIAL 2 DIFFERENTIAL + 0 0 2 1 1 1 1 1 1 I I II I II I 2 16 16 12 12 INTERBANK DM COVERED FRANKFURT SWISS INTERBANK (SF) COVERED 8 8 4 EURO-DOLLAR DEPOSITS EURO-DOLLAR DEPOSITS DASHED LINE DASHED LINE I 0 I I I I I 4 I I I II 0 2 2 DIFFERENTIAL DIFFERENTIAL + 0 0 2 I 11 1_1 1986 1988 I PERCENT ON DIFFERENTIAL SCALE = 2 PERCENT ON RATE SCALE I 2 1986 1988 CHART 9 LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES PERCENT PER At •NT PER ANNUM 16 16 - UNITED STATES 14 CANADA — 14 12 12 10 10 8 — 6 I I I I I 6 I 10 14 UNITED KINGDOM 12 8 - V w 10 8 6 I I I I I 6 4 2 I 8 6 8 10 SWITZERLAND 8 4 6 2 4 17 15 U. S. CORPORATE MONTHLY FRANCE 15 13 13 Aaa B O N D S 11 11 9 9 7 7 i 5 1986 1988 i i NETHERLANDS MONTHLY 5 i 3 i i 1986 i 1988 CHART 10 INDUSTRIAL STOCK INDICES WEEKLY SERIES RATIO SCALE 1969=100 RATIO SCALE 1969=100 500 500 400 — — J\J\ — UNITED STATES 300 200 UNITED KINGDOM I — /Va - 100 i i i i i I I i II I ~ — - - II I II — Lr A A / 300 v - I ill ii h i l l i 1 1 1 /VrWvA - JAPAN 450 350 f - I 150 I I I I I - - - „ - - - - f r 250 MlnlnlM — yAn / V l A w J I I I I I nlnlnln SWITZERLAND CANADA 300 V — I 200 I I I I I — I I I I ill ill I I 111111II111 — 500 400 „ NETHERLANDS — r~ \r\ rV*V 300 w " l Jlh- / 200 100 100 I I - oluh.In I 1986 1988 1986 - 550 - 450 _ 350 - 250 11111111111 — r/< — FRANCE I nh.lnlM 500 400 200 650 650 550 400 I 1988 150 LAST FALSE PLOTTED DATE VALUE SERIES NAME CHAM' 1. SPOT EXCHANGE HATES AND INDICES MEEKLY AVERAGES, NOON BUYING KATES (U.S. CENTS) GERMAN MARK JAPANESE YEN DUTCH GUILDER U.K. POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC BELGIAN FRANC ITALIAN LIRA SWEDISH KRONA 21 53. 42 0.74664 47. 35 167.91 81.89 15.71 63. 26 2.54674 0.07164 15.50 SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. 21 21 21 21 21 21 21 SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. 21 21 21 21 21 21 21 21 21 70.81 203. 52 100.35 40.70 21 21 21 21 21 21 21 21 21 21 21 9 8.02 159.73 208. 14 136.53 64. 12 78.99 66. 88 204. 39 98.72 37.36 66. 67 21 21 21 21 21 21 21 21 -2.05 -3.61 • 3.32 0.43 4.91 2.71 3.32 -3.06 21 21 INDICES, MARCH 1973 BASE RATES = 1U0 GERMAN MARK JAPANESE YEN DUTCH GUILDER U. K. POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC BELGIAN FRANC ITALIAN LIRA 150.27 195.49 135.92 67. 92 81.62 WEIGHTED AVERAGE EXCHANGE VALUE INDICES, MAR 1973 = 100 (G-10 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 SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. CHART 2. 3-MONTH FORWARD EXCHANGE RATES, PREMIUM OR DISCOUNT CANADIAN DOLLAR U.K. POUND GERMAN MARK FRENCH FRANC SWISS FRANC DUTCH GUILDER JAPANESE YEN ITALIAN LIRA SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. SERIES NAME LAST VALDE PLOTTED DATE VALUE CHART 3. GOLD PRICE IN LONDON, AFTERNOON FIXING O.S. DOLLARS PER FINE OUNCE SEPT. 21 410.73 CHART 4. CALL HONEY RATES U.S. FEDERAL FUNDS OVERNIGHT EURO-DOLLAR DEPOSITS O.K. CANADA GERMANY JAPAN FRANCE NETHERLANDS SWITZERLAND SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. 21 21 21 21 21 21 21 21 21 8.17 7.98 10.30 9.92 4.78 3.75 7.30 4.79 1.63 SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. 21 21 21 21 21 21 21 21 21 8.17 4.91 4.16 10.65 12.11 3.22 7.7b 5.49 6.92 SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. 21 21 21 21 21 21 7.98 7.99 8.14 8.20 8.45 8.68 OVERNIGHT EURO-DOLLAR DEPOSITS O.S. FEDERAL FUNDS DIFFERENTIAL SEPT. 21 SEPT. 21 SEPT. 21 7. 98 8. 17 -0. 20 3-MONTH EURO-DOLLAR DEPOSIT RATE U.S. 90-DAY CD'S* SECONDARY MARKET DIFFERENTIAL SEPT. 21 SEPT. 21 SEPT. 21 8. 20 8. 17 0. 03 CHART 5. 3-MONTH INTEREST KATES U.S. 90-DAY CD'S, SECONDARY MARKET GERMAN INTERBANK LOAN JAPANESE GENSAKI RATE CANADIAN FINANCE PAPER INTERBANK STERLING S U S S INTERBANK LOAN FRENCH INTERBANK RATE NETHERLANDS INTERBANK RATE WEIGHTED AVERAGE FOREIGN INTEREST R A T E (G-10 COUNTRIES PLUS SWITZERLAND) CHART 6. EURO-DOLLAR DEPOSIT RATES: LONDON OVERNIGHT 7-DAY 1-MONTH 3-MONTH 6-MONTH 1-YEAR CHART 7. SELECTED EURO-DOLLAR AND U.S. MONEY MARKET RATES SERIES NAME LAST VALUE PLOTTED DATE VALUE CHABT 8. INTEREST ARBITRAGE, 3-MONTH FUNDS EURO-DOLLAR DEPOSIT INTERBANK STERLING (LONDON), COVERED DIFFERENTIAL SEPT. 21 SEPT. 21 SEPT. 21 8.20 8.39 -0.19 U.S. COMMERCIAL PAPER CANADIAN FINANCE PAPER, COVERED DIFFERENTIAL SEPT. 21 SEPT. 21 SEPT. 21 8. 10 8.55 -0.46 EURO-DOLLAR DEPOSIT INTERBANK DM (FRANKFURT), COVERED DIFFERENTIAL SEPT. 21 SEPT. 21 SEPT. 21 8. 27 -0. 07 EURO-DOLLAR DEPOSIT SWISS INTERBANK, COVERED DIFFERENTIAL SEPT. 21 SEPT. 21 SEPT. 21 8.20 8.18 0.02 8. 20 CHART 9. LONG TERM GOVERMENT BOND YIELDS UNITED STATES GERMANY JAPAN SWITZERLAND CANADA FRANCE NETHERLANDS (MONTHLY) UNITED KINGDOM SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. JULY SEPT. 1b 16 9 16 16 9 16 8.93 6. 29 4. 86 4.24 10.31 9.42 6.53 9.23 U.S. CORPORATE AAA BONDS CHART 10. MAY 9.33 STOCK INDICES UNITED STATES UNITED KINGDOM CANADA GERMANY SWITZERLAND NETHERLANDS FRANCE JAPAN SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. 14 14 14 14 14 14 14 14 285.86 311.42 324.51 216.96 184.01 270.24 361.44 569.23 '.•nblGoV// FEDERAL RESERVE statistical release H.IOC512) SEPTEMBER 23, 1988 FOREIGN EXCHANGE RATES FOR THE WEEK ENDING SEPTEMBER 25, 1988 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 AUSTRIA BELGIUM CANADA CHINA,P.R. DENMARK FINLAND FRANCE GERMANY GREECE HONG KONG INDIA *1RELAND ITALY JAPAN MALAYSIA NETHERLANDS *NEM ZEALAND NORWAY PORTUGAL SINGAPORE SOUTH AFRICA SOUTH KOREA SPAIN SRI LANKA SWEDEN SWITZERLAND TAIWAN THAILAND *UNITED 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. 19 (CURRENCY UNITS PER DOLLAR) SEP. 20 SEP. 21 SEP. 22 SEP. 23 78.63 13.160 39.220 1.2195 3.7314 7.1825 4.4275 6.3530 1.8688 151.600 7.8125 14.5200 143.45 1395.00 133.55 2.6620 2.1090 60.550 6.9125 154.300 2.0395 2.4715 722.90 124.760 32.330 6.4350 1.5790 28.970 25.540 167.88 78.64 13.130 39.120 1.2205 3.7314 7.1675 4.4175 6.3385 1.8642 151.500 7.8120 14.4900 143.93 1390.00 133.90 2.6670 2.1035 61.300 6.8950 153.700 2.0400 2.4750 722.50 124.500 32.995 6.4175 1.5747 28.980 25.530 168.65 77.87 13.190 39.310 1.2183 3.7314 7.2000 4.4400 6.3700 1.8747 151.900 7.8120 14.5600 143.30 1396.50 134.25 2.6675 2.1145 61.130 6.9175 154.400 2.0400 2.4750 722.60 124.900 32.995 6.4450 1.5836 28.980 25.530 167.50 78.39 13.220 39.380 1.2186 3.7314 7.2150 4.4495 6.3950 1.8795 152.100 7.8120 14.6000 142.60 1402.50 134.63 2.6695 2.1190 61.530 6.9435 155.000 2.0405 2.4820 722.70 124.680 33.005 6.4625 1.5875 28.980 25.530 166.75 78.40 13.185 39.320 1.2220 3.7314 7.2040 4.4450 6.3900 1.8755 152.000 7.8130 14.5800 142.85 1400.50 134,47 2.6675 2.1150 61.500 6.9375 154.600 2.0410 2.4850 722.60 124.600 33.010 6.4525 1.5850 28.980 25.570 167.15 97.88 97.70 98.12 98.40 98.28 SINDEX OF WEIGHTED AVERAGE EXCHANGE VALUE OF U.S. DOLLAR AGAINST CURRENCIES OF OTHER G-10 COUNTRIES. MARCH 1975 = 100. WEIGHTS ARE 1972-76 GLOBAL TRADE OF EACH OF THE 10 COUNTRIES. SERIES REVISED A S 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. •VALUE IS U.S. CENTS
@FedFRASER