h13_19880509.pdf

(516/517)

Selected Interest & Exchange Rates Weekly Series of Charts

M a y 9 , 1 8 8 8

Prepared by the FINANCIAL MARKETS SECTION

DIVISION OF INTERNATIONAL FINANCE

BOARD OF GOVERNORS FEDERAL RESERVE SYSTEM Washington, MX 26661

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

SUBSCRIPTION RATES:

Weekly $21.00 per year or $.50 each in the United States, its possessions, Canada, and Mexico; 10 or more of the same issue to one address, $19.50 per year or $.45 each. Elsewhere, $26.00 per year or $.60 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.

10. INDUSTRIAL STOCK INDICES


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

RATIO SCALE MARCH 1973=100

200 50 180 FOREIGN CURRENCY - ITALIAN LIRA 45 180 PRICE OF U.S. DOLLAR 160 N 40 140 - - - 35

120 - - - - 30

100 - - - - 25

80 I L I f i T n 1111111 I I I I I I I I I I I I I I I I I 20 220 220 200 JAPANESE Y E N / ^ 200 180 180 160 GERMAN MARK - - 160 140 -

- f - 140

120 - - - r> - 120

100 - - - 100

80 v T i i I I I i i l l i h i l i i i i i n i i i i i i I I I I I I | | I I I I M I I I I l l l l l l l l l l 80

DUTCH GUILDER

CANADIAN DOLLAR

90 80 UK. POUND \ V* 70 " V V ~ / V " ~ V ~ A 60

50 - Y\R

40 I I I I I I IIINIIIIII

140 120 - -

100 BELGIAN FRANC

90 -80 - _ z / v -70 - ysf -

60 -

50 I I I I I I I I I I I I I I 1986 1988

90 FRENCH FRANC J / - 80

- 70 - 60

- - 50

\I I I I I ILLLLLLLLLL 40 280 - Y - 240

SWISS FRANC 200

- 180 - 160 sAj - 140

- 120 I I I I I I ILLLLLLLLLL ILLLLLLLLLL 100

1986 1988 100


CHART 2

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

AVERAGES FOR WEEK ENDING WEDNESDAY

PERCENT PER ANNUM

4

CANADIAN DOLLAR

I I I i I i

A V V -

l l l l l l l l l l !

PERCENT PER ANNUM

8 JAPANESE YEN

I I I I I I

U. K. POUND

I I I

A, I I I

V

GERMAN MARK

I I I I I I i i l i i l n l i i

SWISS FRANC -

I I I I I I 111111111111

4

12

DUTCH GUILDER

I I I I I I . i h i l i i l n M I I I I I . I I ,

0

8

+ 0

FRENCH FRANC ITALIAN LIRA

1986 1988 1986 1988


U.S. c

520

500

480

460

440

420

400

380

360

340

320

300

280

OUNCE

520

500

480

460

440

420

400

380

360

340

320

300

280

CHART 3

PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY

LLARS PER FINE OUNCE U.S. DOLLARS PER FINE

12.5 Kg BARS AFTERNOON FIXING PRICE

i i I i i ! I I I I I I I i I i i I i i I i i 1985 1986 1987 1988


PER<

16

12

8

4

0

16

12

8

4

6

16

12

8

4

0

MUM 16

12

8

4

0

16

12

8

4

0

20

16

12

8

4

0

CHART 4

CALL MONEY RATES WEEKLY SERIES

U. S. FEDERAL FUNDS FRANCE

GERMANY

SWITZERLAND

NETHERLANDS


12

10

8

6

4

2 16

14

12

10

8 10

8

6

4

2 10

8

6

4

2

16

14

12

10

8

6 14

12

10

8

6 10

8

6

4

2 8

6

4

2

0

CHART 5

3-MONTH INTEREST RATES WEEKLY SERIES

NT PER ANNUM PERCENT PER Ah

U.S. CD'S

WEIGHTED AVERAGE FOREIGN RATE

I I I I I I

CANADIAN FINANCE CO. - PAPER

-

I I I I I I

-

FRENCH INTERBANK RATE UK. INTERBANK STERLING

GERMAN INTERBANK RATE

JAPANESE GENSAKI RATE SWISS INTERBANK RATE -

I I I I I I

\ / -

1986 1988 1986 1988


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 Al

OVERNIGHT 3-MONTH

7-DAY 6-MONTH

1-MONTH 1-YEAR

1986 1988 1986 1988


14

12

10

8

6

4

2 2

1

0

1

14

12

10

8

6

4

2 2

1

+ 0

1

CHART 7

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


:NT PER ANNUM

OVERNIGHT EURO-DOLLAR DEPOSITS

I I I

DIFFERENTIAL

PERCENT PER AF

FEDERAL FUNDS DASHED LINE

1 1 1 1 1 1 1 1 1 1 1 1 n 1111 n 1111 I I I L

3-MONTH EURO-DOLLAR DEPOSITS

90-DAY CD* S DASHED LINE

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 1

1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 I L

1986 I PERCENT ON DIFFERENTIAL SCALE = 2 PERCENT ON RATE SCALE

1988

DEFERENTIAL

I I I I I I

!

I I I I I I I I I I I 11 I I I 111 I 11

1986 1988


CHART 8

INTEREST ARBITRAGE: 3-MONTH FUNDS DIFFERENTIAL: PLUS(+), INDICATES FAVOR DOLLAR ASSETS


PERCENT PER ANNUM PERCENT PER ANNUM

INTERBANK STERLING COVERED LONDON

CANADIAN FINANCE CO. PAPER, COVERED

EURO-DOLLAR DEPOSITS DASHED LINE

U. S. COMMERCIAL PAPER DASHED LINE

2 DIFFERENTIAL DIFFERENTIAL

16 16

12 INTERBANK DM COVERED FRANKFURT SWISS INTERBANK (SF) COVERED

8

EURO-DOLLAR DEPOSITS DASHED LINE

EURO-DOLLAR DEPOSITS DASHED LINE 4

0

2 DIFFERENTIAL DIFFERENTIAL

1986 1988 1986 1988

1 PERCENT ON DIFFERENTIAL S C A L E = 2 PERCENT ON RATE S C A L E


CHART 9

LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES

PERCENT PER ANNUM

UNITED STATES

14

UNITED KINGDOM 12

10

8

6 8

SWITZERLAND

17

15 U. S. CORPORATE MONTHLY

-

13 Aaa BONDS -

11 - v , -

9 - ; -

7 - -

5 I I I I I I l l l l l l l l l l l l l l l l l l l l l l 1986 1988

PERCENT PER ANNUM

CANADA

10

JAPAN

10

GERMANY

15

FRANCE

NETHERLANDS MONTHLY

1986 1988


CHART 10

INDUSTRIAL STOCK INDICES WEEKLY SERIES

RATIO SCALE 1969=100

RATIO SCALE 1969=100

500

400 UNITED STATES

-

300 J I -

200 - -

100 i i i I I I > . I , . l u l u

650

550 - /VrWVA / -

450 - JAPAN j ^ -

350 - /r Y -

250 -

150 I I I I I I I I I I i l l I I I I 11! j i ! 11111

500

400 CANADA

A . -

300 V -

200 I I I I I I

500

400 - NETHERLANDS -

300 - , \S\r S -

200 -y-*r / -

100 I I I I I I I I I , . l u l l .

500

J\j\ 400 UNITED KINGDOM

AWV A J 300

- ^ 200

I I I I I I I I 11 1 I I I I I I M l n h . l n 100 650

- - 550

- FRANCE 450

/ I - 350

- f - 250

I I I I I I I I I I I I I I I I I 150

SWITZERLAND /

I I I I I I . . I . . I n t . .

250

200

150

- 400

1986 1988 1986 1988


SBKIES MANE LAST VALUE PLOTTED

DATE VALUE

CHART 1. SPOT EXCHANGE BATES AMD INDICES

WEEKLY AVERAGES, NOON BUYING BATES (U.S. CENTS) GERHAN MARK MAY 4 59.67 JAPANESE YEN HAY 4 0. 80083 DUTCH GUILDER HAY 4 53.20 U.K. POUND MAY 4 187. 19 CANADIAN DOLLAR MAY 4 81.14 FRENCH FRANC MAY 4 17.56 SWISS FRANC MAY 4 71.73 BELGIAN f&ANC MAY 4 2.85292 ITALIAN LISA MAY 4 Q. 08017 SWEDISH KRONA MAY 4 17.01

INDICES, MARCH 1973 BASE BATES = 100 GERMAN MARK MAY 4 167. 87 JAPANESE YEN MAY 4 209.68 DUTCH GUILDER MAY 4 152.73 U.K. POUND MAY 4 75.71 CANADIAN DOLLAR MAY 4 80. 87 FRENCH FRANC MAY 4 79. 14 SWISS FRANC MAY 4 230. 75 BELGIAN FRANC MAY 4 112.42 ITALIAN LIRA MAY 4 45. 54 GHTED AVERAGE EXCHANGE VALUE INDICES, MAR 1973 = 100

1G-10 COUNTRIES PLUS SWITZERLAND) U.S. DOLLAR MAY 4 89. 17 GERMAN MARK MAY 4 166.81 JAPANESE YEN MAY 4 207. 12 DUTCH GUILDER MAY 4 142.83 O.K. POUND MAY 4 66. 59 CANADIAN DOLLAR MAY 4 72. 18 FRENCH FBANC MAY 4 69. 67 SWISS FRANC MAY 4 215.42 BELGIAN FBANC MAY 4 102.86 ITALIA# LIRA MAY 4 38.91 SWEDISH KRONA MAY 4 67.94

CHART 2. 3-HONTH FOB0ABO EICHANGE BATES, PBEfllOtt OB DISCOUNT CANADIAN DOLLAR MAY 4 -1.69 U K. POUND MAY 4 -1.09 GEBflAN HARK MAY 4 3.82 FRENCH FBANC MAY 4 -1.11 S1ISS FBANC MAY 4 5.05 DUTCH GUILDEB MAY 4 3.23 JAPANESE YEN MAY 4 3.39 ITALIAN LIRA MAY 4 -3. 06


SERIES MAES LAST VALUE PLOTTED DATE VALUE

CHART 3. GOLD PRICE IB LONDON, AFTERNOON FIXING U.S. DOLLARS PER FINE OUNCE MAY 4 447.08

CHART 4. CALL MONEY RATES U.S. FEDERAL FUNDS MAY 4 6. 83 OVERNIGHT EURO-DOLLAS DEPOSITS MAY 4 6.65 U.K. MAY 4 7. 25 CANADA MAY 4 8. 42 GERMANY MAY 4 , 3.24 JAPAN MAY 4 3. 38 FRANCE MAY 4 7. 55 NETHERLANDS MAY 4 3.90 SHITZERLAND MAY 4 1.38

CHART 5..J-MONTH INTEREST RATES U.S. 90-DAY CD'S, SECONDARY MARKET MAY 4 7.05 GERMAN INTERBANK LOAN HAY 4 3. 43 JAPANESE GSNSAKI BATE MAY 4 3. 80 CANADIAN FINANCE PAPER MAY 4 9. 05 IMTSBBANX STERLING MAY 4 8.34 SWISS INTERBANK LOAN MAY 4 2.00 FRENCH 1STEEBANK RATS MAY 4 7. 99 NBTHERLASDS INTERBANK RATE MAY 4 4.00 WEIGHTED AVERAGE FOREIGN INTEREST RATE MAY 4 5.62 (G-10 COUNTRIES PLUS S8IISBSLAND)

CHART 6. EURO-DOLLAS DEPOSIT RATES: LONDON OVEBNIGHT MAY 4 6.65 7-DAY MAY 4 6.81 1-MONTH MAY 4 6. 99 3-MONTH MAY 4 7. 19 6-MONTH MAY 4 7.44 1-YEAS MAY 4 7. 83

CHART 7. SELECTED EURO-DOLLAR AID U.S. MONEY MARKET RATES OVERNIGHT EURO-DOLLAR DEPOSITS MAY 4 6.65 U.S. FEDERAL PONDS MAY 4 6.83 DIFFERENTIAL MAY 4 -0. 18 3-MONTH EURO-DOLLAR DEPOSIT RATS U.S. 90DAI CD'S, SECONDARE MARKET DIFFERENTIAL

MAY 4 7. 19 MAY 4 7.05 MAY 4 0. 14


S E R I E S HAHE LAST VALUE PLOTTED

DATE VALUE

CHART 8* Hi TRUEST ARBITRAGE, 3-HONTH FUNDS EU&O-DOLLAR DEPOSIT MAI 4 7. 19 INTERBANK STERLING (LONDON), COVERED HA I 4 7.24 DIFFERENTIAL HA I 4 -0.05 U.S. COHHEBCIAL PAPER HAY 4 6.98 CANADIAN FINANCE PAPER, COVERED HA I 4 7. 32 DIFFERENTIAL HAT 4 -0.34 EURO-DOLLAR DEPOSIT HAY 4 7.19 INTERBANK DH (FRANKFORT), COVERED HAY 4 7.28 DIFFERENTIAL HAY 4 -0.09 EURO-DOLLAR DEPOSIT MAY 4 7. 19 SWISS INTERBANK, COVERED HAY 4 7.07 DIFFERENTIAL MAY 4 0. 12

CHART 9. LONG TERH GOVERHENT BOND YIELDS UNITED STATES GERMANY JAPAN SWITZERLAND CANADA FIANCE NETHfiRLAMDS (HOliTHLY) UNITED KINGDOM

U.S. CORPORATE AAA BONDS

APRIL 29 APRIL 29 APRIL 22 APRIL 8 APRIL 22 APRIL 22 FEB. APRIL 29

HA I

8. 82 5 . 9 4 3.89 4.05 10.36 9.36 6.09 8.95

9.33

CHART 10. STOCK INDICES ONITE0 STATES MAY 4 280. 45 UNITED KIRGDOH MAY 4 316.17 CANADA MAY 4 330.37 GERMANY HAY 4 19 1. 03 SVITZERLAID MAY 4 173.65 NETHERLANDS MAY 4 296.54 FRANCE MAI 4 315. 15 JAPAN MAY 4 586.82


FEDERAL RESERVE statistical release vjoL22w>'/-m

H.IOC 512) MAY 6, 1988 FOREIGN EXCHANGE RATES FOR THE MEEK ENDING MAY 6, 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 (CURRENCY UNITS PER DOLLAR)

COUNTRY MONETARY

UNIT MAY 2 MAY 3 MAY 4 MAY 5 MAY 6 AUSTRALIA DOLLAR 76.06 76.60 76.94 76.76 76.80 AUSTRIA SCHILLING 11.814 11.800 11.815 11.810 11.820 BELGIUM FRANC 35.100 35.090 35.150 35.110 35.170 CANADA DOLLAR 1.2314 1.2347 1.2355 1.2332 1.2379 CHINA,P.R. YUAN 3.7314 3.7314 3.7314 3.7314 3.7314 DENMARK KRONE 6.4750 6.4700 6.4740 6.4750 6.4935 FINLAND MARKKA 4.0160 4.0100 4.0170 4.0150 4.0230 FRANCE FRANC 5.7020 5.7010 5.7070 5.7190 5.7140 GERMANY D. MARK 1.6786 1.6772 1.6799 1.6792 1.6805 GREECE DRACHMA 135.100 134.650 135.000 134.750 135.100 HONG KONG DOLLAR 7.8230 7.8250 7.8195 7.8100 7.8140 INDIA RUPEE 13.3000 13.2800 13.2800 13.2700 13.2800

*1RELAND POUND 158.55 159.10 158.85 158.80 158.90 ITALY LIRA 1249.50 1249.00 1251.00 1255.00 1252.50 JAPAN YEN 124.95 124.88 125.00 124.65 124.88 MALAYSIA RINGGIT 2.5750 2.5800 2.5820 2.5850 2.5870 NETHERLANDS GUILDER 1.8820 1.8815 1.8845 1.8935 1.8850

*NEN ZEALAND DOLLAR 67.400 68.130 68.950 68.420 68.350 NORWAY KRONE 6.1900 6.1725 6.1800 6.1650 6.1780 PORTUGAL ESCUDO 137.900 137.400 137.600 137.600 137.700 SINGAPORE DOLLAR 2.0040 2.0045 2.0055 2.0040 2.0055 SOUTH AFRICA RAND 2.1650 2.1745 2.2010 2.2200 2.2200 SOUTH KOREA WON 743.40 743.50 743.60 743.60 742.70 SPAIN PESETA 110.970 110.770 111.080 111.000 111.250 SRI LANKA RUPEE 30.962 30.975 30.977 30.975 30.982 SWEDEN KRONA 5.8900 5.8800 5.8900 5.8850 5.8955 SWITZERLAND FRANC 1.3980 1.3950 1.4000 1.3993 1.4020 TAIWAN DOLLAR 28.690 28.680 28.660 28.660 28.660 THAILAND BAHT 25.150 25.170 25.170 25.170 25.170 UNITED KINGDOM POUND 187.15 187.12 186.45 186.65 186.20

MEMO: UNITED STATES DOLLAR 89.26 89.24 89.39 89.40 89.46 tINDEX 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 IS U.S. CENTS


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