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 o f Charts September 8, 1997 DIVISION OF INTERNATIONAL FINANCE Prepared by the BOARD OF GOVERNORS FINANCIAL MARKETS FEDERAL RESERVE SYSTEM SECTION Washington, D.C. 20551 Table of Contents TABLES 1. LATEST FIGURES PLOTTED EXCHANGE RATES CHARTS 1. SPOT EXCHANGE RATES 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 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 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 SCALE MARCH 1973=100 130 120 Iā FOREIGN CURRENCY 110 |ā PRICE OF U.S. DOLLAR RATIO SCALE MARCH 1973=100 100 90 80 70 60 J__L I I I I I l I I I I I 80 70 60 50 4C 10 CHART 2 3-MONTH FORWARD EXCHANGE RATES PREMIUM (+) OR (-) AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER ANNUM PERCENT PER ANNUM CHART 3 PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY U.S. I PER FINE OUNCE U S DOLLARS PER FINE 425 425 12.5 Kg BARS AFTERNOON FIXING PRICE 410 410 395 395 380 380 365 365 350 350 335 335 320 ]___i___i__ I___i__ i 1993 i I i___i__ i___I___i___i___i__ I__ i 1995 i i I i iii 1997 320 CHART 4 CALL MONEY RATES WEEKLY SERIES PERCENT PER ANNUM PER ANNUM O <0 CM hCO m ^ CO CM o> PERCENT CHART 5 3-MONTH INTEREST RATES WEEKLY SERIES PERCENT PER ANNUM PERCENT PER ANNUM CM 00 hCD lO CM CD CO CO CM CD lO t- ^ CO lO CM CD O CHART 6 EURO-DOLLAR DEPOSIT RATES, LONDON AVERAGES FOR WEEK ENDING WEDNESDAY 8 8 6 6 4 4 2 2 8 8 6 6 4 4 2 8 2 6 6 4 4 8 2 2 1995 1997 1995 1997 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 DIFFERENTIAL +O I + 0 j__ 1995 1997 i__ I__ i__ i__ i__ I__ i__ i__ i__ l 1995 i i 1997 i CHART 8 INTEREST ARBITRAGE: 3-MONTH FUNDS DIFFERENTIAL: PLUS(+), INDICATES FAVOR DOLLAR ASSETS AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER ANNUM -*> K> CO & Ol O) ^ -L IO + PERCENT PER ANNUM DIFFERENTIAL |o + +o I I I I I I I I I I I I I I I 1995 1997 1995 1997 CHART 9 LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES PERCENT PER ANNUM PERCENT PER ANNUM to oo 9 O) 10 8 h- 7 co 6 <o in in w in co co cm oo cm go CHART 10 STOCK INDICES WEEKLY SERIES RATIO SCALE 1986=100 RATIO SCALE 1986=100 6-Aug-97 Chart 1. 13-Aug-97 20-Aug-97 27-Aug-97 3-Sep-97 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 2.5940 72.321 15.889 53.617 0.05482 0.84361 47.594 65.514 162.63 2.6089 71.824 15.989 53.892 0.05519 0.86075 47.835 65.764 158.62 2.6411 71.897 16.185 54.540 0.05587 0.84796 48.508 66.010 160.25 2.6637 71.779 16.327 55.005 0.05638 0.84497 48.930 66.685 160.52 2.6711 72.137 16.396 55.170 0.05649 0.82991 48.976 66.925 160.26 102.22 72.08 71.60 150.83 31.47 220.88 136.63 210.77 65.78 102.80 71.59 72.05 151.60 31.68 225.37 137.33 211.57 64.15 104.07 71.66 72.93 153.42 32.07 222.02 139.26 212.36 64.82 104.96 71.54 73.57 154.73 32.36 221.24 140.47 214.53 64.93 105.26 71.90 73.88 155.20 32.42 217.30 140.60 215.31 64.82 104.15 69.70 70.20 166.51 29.02 243.81 142.23 53.94 216.63 61.84 99.78 104.62 69.26 70.56 167.37 29.17 241.71 142.91 54.28 217.96 61.67 99.24 104.93 69.63 70.89 167.98 29.23 236.90 143.06 54.82 218.78 61.56 99.25 2.05 2.34 2.41 -1.19 5.33 2.33 4.34 -1.46 2.15 2.33 2.45 -1.16 5.31 2.27 4.28 -1.51 2.13 2.33 2.40 -1.11 5.27 2.27 4.31 -1.55 2.12 2.33 2.40 -1.09 5.22 2.26 4.36 -1.52 322.89 324.95 324.18 324.31 323.96 5.61 5.55 3.16 3.13 3.16 0.49 3.18 1.16 6.64 5.49 5.49 3.16 3.13 3.06 0.47 3.21 1.10 6.84 5.60 5.51 3.15 3.13 3.04 0.47 3.26 0.96 7.07 5.58 5.54 3.15 3.13 3.06 0.50 3.05 0.91 7.04 5.73 4.76 3.24 3.13 3.26 0.51 3.16 1.03 6.96 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. 2.07 2.30 2.37 -1.18 5.26 2.32 4.23 -1.46 Gold Price in London, Afternoon Fixing U.S. dollars per fine ounce Chart 4. 103.35 70.00 69.64 165.13 28.79 249.32 140.87 54.49 216.90 61.48 100.41 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. 102.97 70.68 69.32 164.55 28.65 244.36 140.44 54.27 216.55 63.36 100.69 Call Money Rates U.S. federal funds Overnight Euro-dollar deposits Canada France Germany Japan Netherlands Switzerland United Kingdom 6-Aug-97 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. 5.59 3.67 3.32 3.14 0.63 3.26 1.43 7.04 3.67 5.61 3.70 3.31 3.17 0.59 3.33 1.43 7.10 3.69 5.59 3.63 3.31 3.19 0.57 3.35 1.38 7.13 3.69 5.59 3.66 3.31 3.23 0.56 3.39 1.38 7.17 3.70 5.60 3.67 3.29 3.23 0.55 3.34 1.34 7.20 3.70 5.55 5.50 5.50 5.56 5.68 5.85 5.49 5.53 5.50 5.61 5.73 5.98 5.51 5.51 5.50 5.58 5.71 5.89 5.54 5.56 5.50 5.56 5.69 5.93 4.76 5.57 5.57 5.62 5.76 5.96 Euro-Dollar Deposit Rates Overnight 7-day 1-month 3 -month 6 -month 1-year Chart 7. 13-Aug-97 20-Aug-97 27-Aug-97 3-Sep-97 Selected Euro-dollar & U.S. Money Market Rates Overnight Euro-dollar deposits U.S. federal funds Differential 5.55 5.61 -0.06 5.49 5.49 -0.00 5.51 5.60 -0.08 5.54 5.58 -0.05 4.76 5.73 -0.97 3-month Euro-dollar deposit U.S. 90-day CD's, secondary market Differential 5.56 5.59 -0.03 5.61 5.61 0.00 5.58 5.59 -0.01 5.56 5.59 -0.03 5.62 5.60 0.01 5.56 5.55 0.01 5.61 5.62 -0.01 5.58 5.60 -0.02 5.56 5.59 -0.02 5.62 5.65 -0.04 5.57 5.76 -0.19 5.57 5.78 -0.20 5.56 5.81 -0.25 5.55 5.81 -0.26 5.52 5.81 -0.28 5.56 5.53 0.03 5.61 5.60 0.00 5.58 5.67 -0.09 5.56 5.65 -0.09 5.62 5.66 -0.04 5.56 5.67 -0.11 5.61 5.78 -0.17 5.58 5.67 -0.09 5.56 5.70 -0.13 5.62 5.71 -0.09 6.01 5.62 5.69 2.17 3.29 5.64 7.05 6.35 5.97 5.56 5.64 2.13 3.31 5.58 7.02 6.24 6.05 5.60 5.70 2.10 3.33 5.63 7.09 6.37 5.95 5.59 5.67 2.04 3.35 5.63 7.03 6.32 222.41 221.87 199.14 109.10 334.78 452.80 244.12 349.96 223.41 224.69 205.27 109.63 343.51 457.81 245.68 355.59 Chart 8. Interest Arbitrage, 3-Month Funds Euro-dollar deposit Interbank sterling (London), covered Differential U.S. commercial paper Canadian finance paper, covered Differential Euro-dollar deposit Interbank DM (Frankfurt), covered Differential Euro-dollar deposit Swiss interbank, covered Differential Chart 9. Long Term Government Bellwether Bond Yields 10-year maturity, where available Canada France Germany Japan Switzerland Netherlands United Kingdom United States Chart 10. 5.88 5.53 5.60 2.17 3.27 5.55 6.99 6.18 Stock Indices (Wednesday figures) 225.84 231.06 226.31 Canada 225.40 228.89 232.79 France 212.71 215.58 216.36 Germany 112.83 114.00 111.75 Japan 354.03 345.19 367.15 Netherlands 470.38 468.16 Switzerland 475.01 247.12 245.72 245.14 United Kingdom 357.05 351.70 365.36 United States Indices (in order, rebased to 1986=100) are Toronto Composite, SBF250, FAZ Aktien, Tokyo SE (Topix) , CBS All-General, Swiss Bank Index, Digitized forFinancial FRASER Times Ordinary, NYSE Composite