h13_19891010.pdf

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Selected Interest & Exchange Rates Weekly Series of Charts

October 10,1989 DIVISION OF INTERNATIONAL FINANCE

Prepared by the BOARD OF GOVERNORS FINANCIAL MARKETS FEDERAL RESERVE SYSTEM SECTION Washington, DC. 20551

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

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 PRICELONDON

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 pay-ment 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.


140

120

100

90

80

70

280

240

200

180

160

140

120

100

90

80

70

60

50

200 180

160

140

120

100

120

100

90

80

70

60

50

1=100

140

120

100

90

80

70

280

240

200

180

160

140

120

100 90

80

70

60

50

200 180

160

140

120

100

60

50

45

40

35

30

25

CHART 1

SPOT EXCHANGE INDICES DOLLAR PRICES OF FOREIGN CURRENCIES AND WEIGHTED AVERAGE VALUES (THIN LINE)

AVERAGES FOR WEEK ENDING WEDNESDAY

SCALE 11973=100

RATIO S MARCH 1971

FOREIGN CURRENCY PRICE OF U.S. DOLLAR

SWISS FRANC

__ BELGIAN FRANC

M Y

I I I I I I 11111111111

- JAPANESE YEN

I I I I I I

U.K. POUND

n l u l i

- CANADIAN DOLLAR

J_LLL

GERMAN MARK DUTCH GUILDER

- FRENCH FRANC

I I I I I I

- ITALIAN LIRA

S A -

I I I I I I

1987 1989 1987 1989


CHART 2

3-MONTH FORWARD EXCHANGE RATES PREMIUM (+) OR (-)


PERCENT PER ANNUM 4

0

4 TT

CANADIAN DOLLAR

I I I

AxZ"

I I I i i l i H i l l u

GERMAN MARK

I I I I I I M I I I I I I I M

SWI SS FRANC

v A

I I I 11111111111 l l l . l h l h l

PERCENT PER ANNUM 4

U. K. POUND

I I I I I I

A * X -JAPANESE YEN

I I I I I I N l l l l M h . H h i l M l M

DUTCH GUILDER

I I I I I I l l l l l l l l l l l

12

FRENCH FRANC ITALIAN LIRA

I I I I 11 LI 12

1987 1989 1987 1989


U.S.I 520

500

480

460

440

420

400

380

360

340

320

300

520

500

480

460

440

420

400

380

360

340

320

300

CHART 3

PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY

.LARS PER FINE OUNCE U.S. DOLLARS PER FINE O l

12.5 Kg BARS AFTERNOON FIXING PRICE

1986 1987 1988 1989


16

12

8

4

0

16

12

8

4

0

16

12

8

4

0

16

12

8

4

0

16

12

8

4

0

20

16

12

8

4

0

CHART 4

CALL MONEY RATES WEEKLY SERIES

ENT PER ANNUM PERCENT PER ANN

U.S. FEDERAL FUNDS FRANCE

" M AA .A K .

JAPAN

I I I I I I 11111111111

GERMANY

CANADA

I I I l l l l I I I I

UNITED KINGDOM

SWITZERLAND

NETHERLANDS

1987 1989 1987 1989


12

10

8

6

4

2

16

14

12

10

8

6

8

6

4

2

0

10

8

6

4

2

12

10

8

6

4

2

16

14

12

10

8

6

8

6

4

2

0

10

8

6

4

2

CHART 5

3-MONTH INTEREST RATES WEEKLY SERIES

ENTPER ANNUM

U.S. CD'S

WEIGHTED AVERAGE FOREIGN RATE

i_L

PERCENT PER ANN

FRENCH INTERBANK RATE

U.K. INTERBANK STERLING

GERMAN INTERBANK RATE

I l l l l l l l l l l

JAPANESE GENSAKI RATE

CANADIAN FINANCE CO. -

PAPER

f -

I I I I I I

SWISS INTERBANK RATE J -

I I I I I I

-

- NETHERLANDS INTERBANK RATE -

I I I I I I M I I I I I I I M

-

1987 1989 1987 1989


14

12

10

8

6

4

14

12

10

8

6

4

14

12

10

8

6

4

14

12

10

8

6

4

14

12

10

8

6

4

14

12

10

8

6

4

CHART 6

EURO-DOLLAR DEPOSIT RATES LONDON AVERAGES FOR WEEK ENDING WEDNESDAY

:ENT PER ANNUM PERCENT PER AW

OVERNGHT 3-MONTH

7-DAY 6-MONTH

1-MONTH

-

1-YEAR

J \ ~

I I I 11111111111

-

1987 1989 1987 1989


CHART7

SELECTED EURO-DOLLAR AND U.S. MONEY MARKET RATES DIFFERENTIAL: PLUS(+),FAVORS BORROWING IN U.S.


PERCENT PER ANNUM

14

12

10 FEDERAL FUNDS DASHED LINE

OVERNIGHT EURO-DOLLAR DEPOSITS

11111111111

DIFFERENTIAL

i i i 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1

1987 1989

1 PERCENT ON DIFFERENTIAL SCALE = 2 PERCENT ON RATE SCALE

PERCENT PER ANNUM

14

12 -

3-MONTH f \ -EURO-DOLLAR DEPOSITS A*

y ^ v

90-DAY CD'S

-

DASHED LINE

-

i i i I I I 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1

DIFFERENTIAL

I I I I I I 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1

10

2

2

1987 1989


16

12

8

4

0

2

+ 0

2

16

12

8

4

0

2

+ 0

2

16

12

8

4

0

2

+ 0

2

16

12

8

4

0

2

+ 0

2

CHART8

INTEREST ARBITRAGE: 3-MONTH FUNDS DIFFERENTIAL: PLUSH, INDICATES FAVOR DOLLAR ASSETS


ENT PER ANNUM PERCENT PER ANN

INTERBANK STERLING COVERED LONDON

EURO-DOLLAR DEPOSITS DASHED LINE

I I I I I I 11 i l l M i i l l i l l i l l U i i l l i l I I

CANADIAN FINANCE CO. PAPER, COVERED

U.S. COMMERCIAL PAPER DASHED LINE

I I I n l u l i i l l i l n i l i h i l l i

DIFFERENTIAL

I I I I I I 11111111111

^ V

i i l l i l l i l l i

DIFFERENTIAL

UL 11 l u l u l u l u l u l u 11

INTERBANK DM COVERED FRANKFURT


SWISS INTERBANK (SF) COVERED


1 1 1 i i l i i l i i I I I I I I I I I 111 i l l 1 1 1 1 i l i i 1 1 1 1 1 i l l

DIFFERENTIAL

i i l i i i i i l i i l n l i i l i i l i i

DIFFERENTIAL

l l l l l l l l l JUL 1987 1989

1 PERCENT ON DIFFERENTIAL SCALE = 2 PERCENT ON RATE SCALE

1987 1989


CHART9

LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES

PERCENT PER ANNUM

UNITED STATES

14

UNITED KINGDOM 12

10

8

6

10

SWITZERLAND 8

6

4

2

10

NETHERLANDS MONTHLY 8

6

4

2 1987 1989

PERCENT PER ANNUM

CANADA

14

FRANCE

JAPAN

10

GERMANY - 8

- 6

I I I I I I

4

2 1987 1989


CHART 10

INDUSTRIAL STOCK INDICES WEEKLY SERIES

RATIO SCALE 1969=100

600

500

400

300 -

RATIO SCALE 1969*100

200 -

150

800

600

500

400

300

NETHERLANDS UNITED STATES

- 200

JAPAN GERMANY

200

150

100

600

500

400

300

200

SWITZERLAND r -

I I I I I I

-

CANADA

I I I

' V I I I

- 150

FRANCE

LL 200

UNITED KINGDOM

200

1987 1989 1987 1989


S E R I E S NAME LAST VALUE PLOTTED

DATE VALUE

CHART 1 . SPOT EXCHANGE RATES AMD I N D I C E S

WEEKLY AVERAGES, NOON BUYING RATES ( U . S . CENTS)

GERMAN MASK OCT. 4 5 3 . 2 3 JAPANESE YEN OCT. 4 0 . 7 1 DUTCH GUILDER OCT. 4 4 7 . 1o U. K. POUND OCT. 4 1 0 0 . 9 9 CANADIAN DOLLAR OCT. 4 8 4 . 9 1 FRENCH FRANC OCT. 4 1 5 . 70 SWISS FRANC OCT. 4 6 1 . 47 BELGIAN FRANC OCT. 4 2 . 5J ITALIAN LIRA OCT. 4 0 . 0 / SWEDISH KRONA OCT. 4 1 5 . 52

I N D I C E S , MARCH 1 9 7 3 BASE BATES = 100

GERMAN MARK OCT. 4 1 4 9 . 74 JAPANESE YEN OCT. 4 16 6 . 60 DUTCH GUILDER OCT. 4 1 3 5 . 44 U . K . POUND OCT. 4 6 5 . 11 CANADIAN DOLLAR OCT. 4 3 4 . 6 3 FRENCH FRANC OCT. 4 7 0 . 73 SWISS FRANC OCT. 4 1 9 7 . 7 o BELGIAN FRANC OCT. 4 9 9 . 76 ITALIAN LIRA OCT. 4 4 1 . 4 7

WEIGHTED AVERAGE EXCHANGE VALUE I N D I C E S , MAR 1 * 7 3 = 1 0 0 ( G - 1 0 COUNTRIES PLUS SWITZERLAND)

U. S . DOLLAR OCT. 4 9 8 . 9 2 GERMAN MARK OCT. 4 1 bO. 3 b JAPANESE YEN OCT. 4 1 9 9 . 3 3 DUTCH GUILDER OCT. 4 1 3 7 . 0 2 U .K. POUND OCT. 4 b 1 . b7 CANADIAN DOLLAR OCT. 4 8 2 . 75 FRENCH FRANC OCT. 4 6 7 . 3 0 SWISS FRANC OCT. 4 1 9 9 . 8 5 BELGIAN FRANC OCT. 4 9 8 . 84 ITALIAN LIRA OCT. 4 3 8 . 4 0 SWEDISH KRONA OCT. 4 b 7 . 2b

CHART 2 . 3-MONTH FORWARD EXCHANGE RATES, PREMIUM OS DISCOUNT

CANADIAN DOLLAR OCT. 4 - 3 . 0 6 U . K . POUND OCT. 4 - 5 . 20 GERMAN MARK OCT. 4 1. 17 FRENCH FRANC OCT. 4 - 0 . 5 2 SWISS FRANC OCT. 4 1 . 3 5 DUTCH GUILDER OCT. 4 1. 09 JAPANESE YEN OCT. 4 3 . 5 5 ITALIAN LIRA OCT. 4 - J . 16



DATE VALUE

CHART 3 . GOLD PRICE I N LONDON, AFTERNOON F I X I N G

U . S . DOLLARS PER F I N E OUNCE OCT. 4 3 6 6 . 2 0

CHART 4 . CALL MONEY RATES

U. S . FEDERAL FUNDS OCT. 4 9 . 1 8 OVERNIGHT EURO-DOLLAR DEPOSITS OCT. 4 9 . 0 6 U. K. OCT. 4 1 3 . 5 7 CANADA OCT. 4 1 2 . 1 4 GERMANY OCT. 4 7 . 14 JAPAN OCT. 4 5 . 4 8 FRANCE OCT. 4 9 . 4 5 NETHERLANDS OCT. 4 7 . 2 8 SWITZERLAND OCT. 4 6 . 3 8

CHART 5 . 3-MONTH INTEREST RATES

U. S . SO-DAY C D ' S , SECONDARY MARKET OCT. 4 8 . 9 3 GERMAN INTERBANK LOAN OCT. 4 7 . 8 5 JAPANESE GENSAKI BATE OCT. 4 4 . 9 8 CANADIAN FINANCE PAPER OCT. 4 1 2 . 3 2 INTERBANK STERLING OCT. 4 1 4 . 4 6 SWISS INTERBANK LOAN OCT. 4 7 . 6 0 FRENCH INTERBANK RATE OCT. 4 9 . 5 1 NETHERLANDS INTERBANK RATE OCT. 4 7 . 86 WEIGHTED AVERAGE FOREIGN I N T E R E S T RATE OCT. 4 9 . 0 7

( G - 1 0 COUNTRIES PLUS SWITZERLAND)

CHART 6 . EURO-DOLLAR D E P O S I T RATES; LONDON

OVERNIGHT OCT. 4 9 . 0 6 7-DAY OCT. 4 a. 94 1-MONTH OCT. 4 8 . 9 6 3-MONTH OCT. 4 9 . 0 3 6-MONTH OCT. 4 8 . 9 5 1-YEAR OCT. 4 8 . 9 4

CHART 7 . SELECTED EURO-DOLLAR AND U . S . MONEY MARKET RATES

OVERNIGHT EURO-DOLLAR DEPOSITS OCT. 4 9. Ob U . S . FEDERAL FUNDS OCT. 4 9. 18 DIFFERENTIAL OCT. 4 - a . 12

3-MONTH EURO-DOLLAR DEPOSIT RATE OCT. 4 9. 03 U . S . 9 0 - D A Y C D ' S , SECONDARY MARKET OCT. 4 d. 9 3 DIFFERENTIAL OCT. 4 0. 10



DATE VALUE

CHABT 8 . INTEREST ARBITRAGE, 3MONTH PONDS

EURO-DOLLAR D E P O S I T OCT. 4 9 . 0 3 INTERBANK STERLING (LONDON), COVERED OCT. 4 9 . 0 7 DIFFERENTIAL OCT. 4 - 0 . 0 5

0 . S . COMMERCIAL PAPER OCT. 4 8 . 8 3 CANADIAN FINANCE PAPER, COVERED OCT. 4 9 . 1 7 DIFFERSNTIAL OCT. 4 - 0 . 3 4

EURO-DOLLAR D E P O S I T OCT- 4 9 . 0 3 INTERBANK DM (FRANKFURT), COVERED OCT. 4 9 . 04 DIFFERENTIAL OCT. 4 - 0 . 0 1

EURO-DOLLAR D E P O S I T OCT. 4 9 . 0 3 S i l S S INTERBANK, COVERED OCT. 4 8 . 97 DIFFERENTIAL OCT. 4 0 . 0 5

CHART 9 . LONG TERM GOVERHENT BOND YIELDS

UNITED STATES S E P T . 2 9 8 . 3 1 GERMANY OCT. 6 7 . 1 8 JA PAN S E P T . 2 9 5 . 12 SWITZERLAND S E P T . 2 9 5 . 4 0 CANADA S E P T . 1 5 9 . 6 6 FRANCE S E P T . 1 5 8 . 97 NETHERLANDS (MONTHLY) MAY 7 . 3 7 UNITED KINGDOM OCT. 6 9 . 4 6

U . S . CORPORATE

AAA BONDS MAY 9 . 3 3

CHART 1 0 . STOCK I N D I C E S

UNITED STATES OCT. 4 3 7 6 . 0 9 UNITED KINGDOM OCT. 4 41-5. 57 CANADA OCT. 4 3 9 8 . 12 GERMANY O C T . 4 2 9 1 . 8 7 SWITZERLAND OCT. 4 2 6 7 . 8 5 NETHERLANDS OCT. 4 3 6 - 4 . 0 5 FRANCE OCT. 4 5 5 3 . 5 3 JAPAN OCT. 4 7 1 0 . 4 7


FEDERAL RESERVE statistical release

H.10(5X2) OCTOBER 6 , 1989

FOREIGN EXCHANGE RATES FOR THE WEEK ENDING OCTOBER 6 , 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:

COUNTRY MONETARY

UNIT (CURRENCY UNITS PER DOLLAR)

COUNTRY MONETARY

UNIT OCT. 2 OCT. 3 OCT. 4 OCT. 5 OCT. 6

^AUSTRALIA DOLLAR 77.73 77.78 77.68 77.75 78.23 AUSTRIA SCHILLING 13.195 13.285 13.202 13.320 13.318 BELGIUM FRANC 39.360 39.650 39.400 39.600 39.760 CANADA DOLLAR 1.1776 1.1764 1.1749 1.1753 1.1765 CHINA,P.R. YUAN 3.7314 3.7314 3 .7314 3 .7314 3.7314 DENMARK KRONE 7.3090 7.3600 7.3165 7.3520 7.3800 FINLAND MARKKA 4.2760 4.2975 4 .2810 4 .2990 4.3100 FRANCE FRANC 6.3580 6.4010 6 .3720 6.3900 6.4170 GERMANY D. MARK 1.8750 1.8865 1.8780 1.8860 1.8925 GREECE DRACHMA 164.550 165.900 165.200 165.700 166.900 HONG KONG DOLLAR 7.8030 7.8020 7.8030 7.8040 7.8050 INDIA RUPEE 16.6700 16.8600 16.7800 16.7700 16.8000

*1RELAND POUND 141.95 141.25 141.75 141.30 141.40 ITALY LIRA 1371.50 1380.25 1373.00 1380.00 1384.50 JAPAN YEN 139.48 141.13 141.05 142.40 142.80 MALAYSIA RINGGIT 2.6905 2.6950 2.6940 2.6900 2.6960 NETHERLANDS GUILDER 2.1178 2.1303 2.1215 2.1297 2.1370

*NEW ZEALAND DOLLAR 58.800 58.750 57.800 58.200 58.880 NORWAY KRONE 6.9220 6.9700 6.9380 6.9880 6.9850 PORTUGAL ESCUDO 158.850 159.820 159.000 160.050 160.380 SINGAPORE DOLLAR 1.9630 2.9705 1 .9645 1.9615 1.9695 SOUTH AFRICA RAND 2.6950 1.9705 2.6870 2 .7025 2.7100 SOUTH KOREA WON NA NA 672.90 673.00 673.20 SPAIN PESETA 119.200 119.700 119.100 119.850 119.950 SRI LANKA RUPEE 40.018 40 .017 40 .017 40 .018 40.018 SWEDEN KRONA 6.4340 6.4700 6 .4450 6 .4850 6.4800 SWITZERLAND FRANC 1.6245 1.6255 1.6275 1.6370 1.6455 TAIWAN DOLLAR 25.700 25.700 25.665 25.665 25.660 THAILAND BAHT 25.780 25.830 25.860 25.850 25.890

*UNITED KINGDOM POUND 161.78 160.55 160.40 161.00 160.25

MEMO: UNITED STATES DOLLAR 98.66 99.29 98 .99 99.36 99.69

SINDEX 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.

VALUE I S U .S . CENTS


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