h13_19890424.pdf

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Selected Interest & Exchange Rates Weekly Series of Charts

April 24, 1989

Prepared by the FINANCIAL MARKETS SECTION

DIVISION O F INTERNATIONAL F INANCE

BOARD O F GOVERNORS FEDERAL RESERVE SYSTEM Washington, DLC. 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 R A T E S -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 $24.00 per year or $.60 each in the United States, its possessions, Canada, and Mexico; 10 or more of the s a m e issue to one address , $22.50 per year or $.55 each. Elsewhere, $30.00 per year or $.70 each. Address reques ts 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


1 4 0

120

100

9 0

80

7 0

280

2 4 0

200

180

160

1 4 0

120

100 9 0

80

7 0

60

5 0

200 180

160

1 4 0

120

100

120

100

9 0

80

7 0

60

5 0

CALE 1=100

1 4 0

120

100

9 0

80

7 0

280

2 4 0

200

180

160

1 4 0

120

100 9 0

80

7 0

60

5 0

200 180

160

1 4 0

120

100

60

5 0

4 5

4 0

3 5

3 0

2 5

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 1973

FOREIGN CURRENCY PRICE OF U.S. DOLLAR

SWISS FRANC

BELGIAN FRANC

I I I I I I

JAPANESE YEN

I I I I I I

-

U.K. POUND

CANADIAN DOLLAR

M l I I I

GERMAN MARK DUTCH GUILDER

FRENCH FRANC

ITALIAN LIRA

^ Z

i i i i i i

1 9 8 7 1 9 8 9 1 9 8 7 1 9 8 9 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

CHART 2

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


PERCENT PER ANNUM

4

CANADIAN DOLLAR

\r-I I I

A V "

i i i

^ - ^ " V v

12

GERMAN MARK

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

SWI

V-S S FRANC

V A -

I I I i i h i i i i i i i i i l i i l i i l i i

FRENCH FRANC

I -

f

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

PERCENT PER ANNUM

4

U. K. POUND

y\j 1 1 1

jV I I I

A* > i i l i i l i i l i i

JAPANESE YEN

I I I

DUTCH GUILDER

I I I I I I i i l . i l i i l . i

ITALIAN LIRA

I I I III II I I I 1 9 8 7 1 9 8 9 1 9 8 7 1 9 8 9


U.S.

5 2 0

5 0 0

4 8 0

4 6 0

4 4 0

4 2 0

4 0 0

3 8 0

3 6 0

3 4 0

3 2 0

3 0 0

5 2 0

5 0 0

4 8 0

4 6 0

4 4 0

4 2 0

4 0 0

3 8 0

3 6 0

3 4 0

3 2 0

3 0 0

CHART 3

PRICE OF GOLD IN LONDON A V E R A G E S F O R W E E K E N D I N G W E D N E S D A Y

LLARS PER FINE OUNCE U.S. DOLLARS PER FINE 01

1 2 . 5 Kg B A R S

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

1 9 8 6 1 9 8 7 1 9 8 8 1 9 8 9


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

CHART4

CALL MONEY RATES WEEKLY SERIES

ENT PER ANNUM PERCENT PER ANN

U.S. FEDERAL FUNDS FRANCE

AA .A A . . f A v I

JAPAN

I I I I I I

GERMANY

UNITED KINGDOM

CANADA

NETHERLANDS

SWITZERLAND

& 1 9 8 7 1 9 8 9 1 9 8 7 1 9 8 9


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

;ENT PER ANNUM

U.S. CD'S

WEIGHTED AVERAGE FOREIGN RATE

1 _ 1

PERCENT PER AW

FRENCH INTERBANK RATE

I I I I I I I MILL

U.K. INTERBANK STERLING CANADIAN FINANCE CO. -

PAPER

f -

I I I I I I

-

__ GERMAN INTERBANK RATE J -

I I I I I I

SWISS INTERBANK RATE jJ

I I I I I I

JAPANESE GENSAKI RATE

- NETHERLANDS INTERBANK RATE -

I I I I I I

-

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

3-MONTH OVERNIGHT

6-MONTH 7-DAY

1-MONTH ; 1-YEAR

I I I I I I

-

1987 1989 1987 1989


14

12

10

8

6

4

2

2

1

+ 0

1

14

12

10

8

6

4

2

2

1

+ 0

1

CHART7

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


PERCENT PER ANI

FEDERAL FUNDS DASHED LINE

OVERNIGHT EURO-DOLLAR DEPOSITS

1 1 1 1 1 1 1 1 1 1 1 11111

3-MONTH EURO-DOLLAR DEPOSITS

9 0 - D A Y C D ' S DASHED LINE

DIFFERENTIAL

I I I l H I I I I I I I I I I I I I II I I I I I I

DIFFERENTIAL

1 1 1 1 1 1 1 1 1 1 1

1 9 8 7 1 9 8 9

IENTIAL SCALE = 2 PERCENT ON RATE SCALE

1987

1 1 1 1 1 1 1 1

1 9 8 9


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

CHARTS

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


;ENT PER ANNUM

INTERBANK STERLING COVERED LONDON

EURO-DOLLAR DEPOSITS DASHED LINE

I 1111111 ii I ii 11 i l l i I n h i

DIFFERENTIAL

PERCENT PER A M

CANADIAN FINANCE CO. PAPER, COVERED

U.S. COMMERCIAL PAPER DASHED LINE

_LL

11 III III 111 1111l l l l l11

DIFFERENTIAL

I i l l i l l i l l I

INTERBANK DM COVERED FRANKFURT


DIFFERENTIAL

SWISS INTERBANK (SF) COVERED


I I I I I I I II I I I I l l l l l I I I I I I I II

DIFFERENTIAL

I I I I I I I l l l l l l l l l l l Mi l l I l l l l l I I I I I

1987 1989 I PERCENT ON DIFFERENTIAL SCALE = 2 PERCENT ON RATE SCALE

i i l i i l i H i l l n l i i 11

1987 1989


14

12

10

8

6

14

12

10

8

6 10

8

6

4

2

10

8

6

4

2

14

12

10

8

6

14

12

10

8

6

10

8

6

4

2

10

8

6

4

2

CHART9

LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES

;ENT PER ANNUM

UNITED STATES

PERCENT PER ANF

CANADA

^ . zVi w \T-i i i i i i

UNITED KINGDOM

SWITZERLAND

NETHERLANDS MONTHLY

FRANCE

v 1 1 1 i i i

z

- JAPAN -

1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1

-

- GERMANY -

1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1

-

1987 1989 1987 1989


CHART 10

INDUSTRIAL STOCK INDICES WEEKLY SERIES

RATIO SCALE 1969=100

RATIO SCALE 1969=100

UNITED STATES NETHERLANDS

JAPAN

-

I I I I I I

SWITZERLAND

600

500 CANADA

-

400

A - "

300 ' I/ LyvV"v-yV' f 200 I I I I I I > 1 1 , 1 1 , , 11 <

, , | , ,

GERMANY

FRANCE

UNITED KINGDOM

1987 1989 1987 1989


LAST VALUE PLOTTED S E R I E S NAME DATE VALUE

CHART 1 . SPOT EXCHANGE BATES AND I N D I C E S

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

GERMAN MARK A P R I L 19 5 3 . 6 8 JAPANESE YEN A P R I L 19 0 . 7 5 7 4 0 DU'IUri GUILDER A P R I L 19 4 7 . 56 U. a . POUND A P R I L 19 1 7 0 . 8 1 CANADIAN DOLLAR A P S I L 19 8 4 . 2 8 FBENCH FRANC A P R I L 19 1 5 . 8 6 SWISS FRANC APHIL 19 6 0 . 9 9 BELGIAN FRANC A P R I L 19 2 . 5 6 3 3 6 11' Ax. IAN L I E A A P R I L 19 0 . 0 7 3 1 0 SWEDISH KRONA A P R I L 19 1 5 . 74

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

GERMAN MARK A P R I L 19 1 5 1 . 0 0 JAPANESE YEN A P R I L 19 19 8 . 3 1 DUTCH GUILDER A P R I L 19 1 3 6 . 54 U . K . POUND A P R I L 19 6 9 . 0 8

( CANADIAN DOLLAR A P R I L 19 8 4 . 0 0 FRENCH FRANC A P R I L 19 7 1 . 4 5 SWISS FRANC APRIL 19 1 9 6 . 2 2

( BELGIAN FRANC A P R I L 19 1 0 1 . 0 1 ITALIAN LIRA APRIL 19 4 1 . 5 2

I WEIGHTED AVERAGE EXCHANGE VALUE I N D I C E S , MAR 1 9 7 3 = 1 0 0 ( G - 1 0 COUNTRIES i L U S SWITZERLAND)

U . S . DOLLAR A P R I L 19 9 6 . 9 7 GERMAN MARK A P R I L 19 1 5 9 . 0 4 JAPANESE 1 EN A P R I L 19 2 0 9 . 5 1

i DUTCH GUILDER APRIL 19 1 3 5 . 97 U. K. POUND A P R I L 19 6 4 . 7 3 CANADIAN DOLLAR A P R I L 19 8 0 . 7 3

{ FRENCH FRANC A P R I L 19 6 6 . 9 1 SWISS FEANC A P R I L 1 9 1 9 5 . 14 BELGIAN FRANC A P R I L 19 9 8 . 52 ITALIAN LIRA A P R I L 19 3 7 . 8 3 SWEDISH KSONA A P R I L 19 6 7 . 14

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

CANADIAN DOLLAR A P R I L 19 - 2 . 19 U . K . POUND A P R I L 19 - 2 . 7 1 GERMAN MAE K A P R I L 19 3 . 6 9 FRENCH FRANC A P R I L 19 1 . 54 SWISS FRANC APRIL 19 3 . 7 2 DUTCH GUILDER APRIL 19 3 . 4 3 JAPANESE YEN A P R I L 19 5 . 5 1 ITALIAN LIRA A P R I L 19 - 1 . 5 9


S E R I E S NAME LAST VALUE PLOTTED

DATE VALUE

CHART 3 . GOLD P&ICE IN LONDON, AFTERNOON F I X I N G

U . S . DOLLARS PER FIN E OUNCE A P R I L 19 3 8 5 . 8 9

CHART 4 . CALL HONEY KATES

U . S . FEDERAL FUNDS APRIL 19 9 . 9 5 OVERNIGHT EURO-DOLLAR DEPOSITS APRIL 19 9 . 6 b U. K. A P R I L 19 1 0 . 6 0 CANADA A P R I L 19 1 2 . 12 GERMANY APRIL 19 5 . 7 9 JAPAN APRIL 19 3 . 96

, FRANCE A P R I L 19 8 . 0 9 NETHERLANDS A P R I L 19 6 . 0 4 SWITZERLAND APRIL 19 5 . 47

CHART 5 . J-MONTH INTEREST HATES I

U . S . 90 -DAY C D ' S , SECONDARY MARKET A P R I L 19 9 . 9 3 GERMAN INTERBANK LOAN A P R I L 19 6 . 3 5 JAPANESE GENSAKI RATE APRIL 19 4 . 20 CANADIAN FINANCE PAPER A P R I L 19 1 2 . 75 INTERBANK STERLING A P R I L 19 1 3 . 0 b SWISS INTERBANK LOAN APRIL 19 6 . 13 FRENCH INTERBANK RATE APRIL 19 8 . 5b NETHERLANDS INTERBANK RATE A P R I L 19 6 . 6 5 WEIGHTED AVERAGE FOREIGN INTEREST RATE A P R I L 19 8 . 0 3

i G - 1 0 COUNTRIES PLUS SWITZERLAND)

CiiAkT b . LUfaO-DOLLAR DEPOSIT RATES: LONDON

OVERNIGHT APRIL 19 9 . 6 o 7-DAY APRIL 19 9 . 7 5 1-MONTH A P R I L 19 9 . 8 8 3-MONTH A P R I L 19 1 0 . 0 6 6-MONTH A P R I L 19 1 0 . 2 5 1-YEAR A P R I L 19 1 0 . 5 4

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

OVERNIGHT EURO-DOLLAR DEPOSITS A P R I L 19 9 . 6 6 U . S . FEDERAL FUNDS APRIL 19 9 . 9 5 D I F F E R E N T I A L A P R I L 19 - 0 . 2 9

3-MONTH EURO-DOLLAR DEPOSIT RATE A P R I L 19 1 0 . 0 6 U . S . 90-DAY C D ' S , SECONDARY MARKET APRIL 19 9 . 9 3 D I F F E R E N T I A L A P R I L 19 0 . 1 3


S E R I E S K&tlE LAST VALUE PLOTTED

DATE VALUE

CHART 8 . INTEREST ARBITRAGE, 3-MONTH FUNDS

EURO-DOLLAR DEPOSIT A P R I L 19 1 0 . 0 b INTERBANK STERLING (LONDON), COVERED A P R I L 19 1 0 . 26 D l f i E R E N T I A L A P R I L 1 9 - 0 . 2 0

U . S . COMMERCIAL PAPER A P R I L 19 9 . 79 CANADIAN FINANCE P A P E R , COVERED APRIL 19 1 0 . 50 D i l i ERENT1AL APRIL 19 - 0 . 71

EURO-DOLLAR DEPOSIT A P R I L 19 1 0 . 0 b INTERBANK DM (FRANKFURT) , COVERED A P R I L 19 1 0 . 10 DIFFERENTIAL A P R I L 19 - 0 . 0 4

EURO-DOLLAR DEPOSIT A P R I L 19 1 0 . 0 6 SWISS INTERBANK, COVERED A P R I L 19 9 . 9 1 D I F F E R E N T ! AL A P R I L 19 0 . 16

V CHART 9 . LONG TERM GOVERTLEKT BOND YIELDS

UNITED STATES A P R I L 14 9 . 27 f GERMANY A P R I L 14 6 . 9 2

JAPAN A P R I L 7 4 . 7 6 SWITZERLAND A P R I L 14 5 . 0 0

i CANADA A P R I L 14 1 0 . 4 4 FRANCE APRIL 14 9 . 2 2 NETHERLANDS (MONTHLY) DEC. 6 . 42

( UNITED KINGDOM A P R I L 14 9 . 12 U . S . CORPORATE

( AAA BONDS

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

1 UNITED STATES UNITED KINGDOM CANADA

W GERMANY SWITZERLAND NETHERLANDS FRANCE JAPAN

MAY 9 . 3 3

A P R I L 19 3 2 7 . 4 3 A P R I L 19 3 7 7 . 86 A P R I L 19 3 5 6 . 5 5 A P R I L 19 2 5 0 . 78 APRIL 19 2 2 7 . 3 0 A P R I L 19 3 3 5 . 09 A P R I L 19 4 7 1 . 2 2 A P R I L 19 6 5 2 . 4 4


FEDERAL RESERVE statistical release

H.10(512) APRIL 21, 1989 FOREIGN EXCHANGE RATES FOR THE WEEK ENDING APRIL 21, 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 APR. 17 APR. 18 APR. 19 APR. 20 APR. 21

AUSTRALIA DOLLAR 81.28 80.01 80.01 80.20 79.50 AUSTRIA SCHILLING 13.071 13.050 13.102 12.995 13.010 BELGIUM FRANC 38.870 38.810 38.980 38.640 38.680 CANADA DOLLAR 1.1853 1.1847 1.1870 1.1845 1.1865 CHINA,P.R. YUAN 3.7314 3.7314 3.7314 3.7314 3.7314 DENMARK KRONE 7.2350 7.2180 7.2520 7.1970 7.2150 FINLAND MARKKA 4.1600 4.1510 4.1715 4.1420 4.1600 FRANCE FRANC 6.2875 6.2760 6.3030 6.2560 6.2705 GERMANY D. MARK 1.8560 1.8529 1.8617 1.8465 1.8492 GREECE DRACHMA 158.500 158.900 158.600 158.820 158.000 HONG KONG DOLLAR 7.7810 7.7815 7.7820 7.7825 7.7820 INDIA RUPEE 15.7100 15.7000 15.7200 15.7200 15.7000

IRELAND POUND 143.55 143.80 143.25 144.45 144.15 ITALY LIRA 1364.50 1360.50 1365.50 1357.00 1359.75 JAPAN YEN 131.95 131.52 132.34 131.35 131.45 MALAYSIA RINGGIT 2.7230 2.7110 2.7110 2.7010 2.6870 NETHERLANDS GUILDER 2.0950 2.0910 2.1010 2.0838 2.0878 *NEH ZEALAND DOLLAR 61.250 61.230 61.100 61.220 61.300 NORWAY KRONE 6.7580 6.7450 6.7670 6.7250 6.7330 PORTUGAL ESCUDO 153.940 153.400 154.100 153.050 153.400 SINGAPORE DOLLAR 1.9435 1.9460 1.9470 1.9410 1.9395 SOUTH AFRICA RAND 2.5565 2.5335 2.5375 2.5250 2.5395 SOUTH KOREA WON 670.10 669.60 669.30 669.40 668.90 SPAIN PESETA 115.600 115.200 115.600 114.850 115.300 SRI LANKA RUPEE 34.038 34.048 34.038 34.038 34.038 SWEDEN KRONA 6.3320 6.3260 6.3450 6.3105 6.3100 SWITZERLAND FRANC 1.6363 1.6285 1.6360 1.6277 1.6330 TAIWAN DOLLAR 27.110 27.150 27.113 27.102 27.080 THAILAND BAHT 25.450 25.530 25.550 25.570 25.510 UNITED KINGDOM POUND 171.60 171.80 171.00 171.70 171.40

MEMO: UNITED STATES DOLLAR 96.69 96.50 96.93 96.29 96.45 INDEX 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 At 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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