h13_19890530.pdf

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Selected Interest & Exchange Rates Weekly Series of Charts

M a y 3 0 , 1 9 8 9 DIVISION OF INTERNATIONAL FINANCE

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

SUBSCRIPTION RATES:

Weekly $24.00 per year or $.60 each in the United States, its possess ions , 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.

10. INDUSTRIAL STOCK INDICES


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 1975

FOREIGN CURRENCY PRICE OF U.S. DOLLAR

SWISS FRANC

BELGIAN FRANC

I I I I I I

- JAPANESE YEN

1 1 1 1 1 1

-

U.K. POUND

CANADIAN DOLLAR

111111llll111

DUTCH GUILDER

FRENCH FRANC

- GERMAN MARK

x -

1 1 1 1 1 I I I I I I I M I I I U I N H I L I I

ITALIAN LIRA

1987 1989 1987 1989


CHART 2

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


PERCENT PER ANNUM

4

CANADIAN DOLLAR

I I I I I I

^ - V V V T

GERMAN MARK

I I I I I I

SWISS FRANC

V / a -I I I M I I I I N I I I M I M I I . I M

PERCENT PER ANNUM

4

U. K. POUND

/X/ 1 1 1

/ / I I I

A , I I L I I L I I L I I

JAPANESE YEN

I I I I I I

DUTCH GUILDER

I I I

FRENCH FRANC ITALIAN LIRA

- 4

- 8

12 1987 1989 1987 1989


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 Ol

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 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

ENTPER ANNUM PERCENT PER ANH

U.S. FEDERAL FUNDS

GERMANY

M i l l l u l l

UNITED KINGDOM

FRANCE

JAPAN

I I I

CANADA

NETHERLANDS

Hull

SWITZERLAND

LU 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

CHARTS

3-MONTH INTEREST RATES WEEKLY SERIES

ENTPER ANNUM

U.S. CD'S

I I I

WEIGHTED AVERAGE FOREIGN RATE

I I I

PERCENT PER AW

FRENCH INTERBANK RATE

U.K. INTERBANK STERLING

GERMAN INTERBANK RATE

CANADIAN FINANCE CO. -

PAPER

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

tENT PER ANNUM PERCENT PER AW

OVERNIGHT 3-MONTH

7-DAY 6-MONTH

I I I I II I I I I I I i i l i i l i i

1-MONTH 1 YEAR

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.


JENT PER ANNUM PERCENT PERANI

FEDERAL FUNDS DASHED LINE

OVERNIGHT EURO-DOLLAR DEPOSITS

i i 1111111 i i 1 1 1 1 1 1 1 1 1 1 1

DIFFERENTIAL

3-MONTH EURO-DOLLAR DEPOSITS

90-DAY CD'S DASHED LINE

M i l

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

1987 1989

PERCENT ON DIFFERENTIAL SCALE = 2 PERCENT ON RATE SCALE

DIFFERENTIAL

1 _ L

1 1 1 1 1 1 1 1 1 1 1

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

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: PLUS(+), INDICATES FAVOR DOLLAR ASSETS


iENTPER ANNUM

INTERBANK STERLING COVERED LONDON

EURO-DOLLAR DEPOSITS DASHED LINE

DIFFERENTIAL

PERCENT PER ANI*

111 n i l i h i l l i h i III I u

CANADIAN FINANCE CO. PAPER, COVERED

U.S. COMMERCIAL PAPER DASHED LINE

1__L 1111111111111111111111

n l i i i i i i i i

DIFFERENTIAL

I I I 1 1 l l l l l l l 1 1 1111111111

INTERBANK DM COVERED FRANKFURT


I I I I I I I I I I I I I I I I I I I I I I I I I I I I I

SWISS INTERBANK (SF) COVERED


I I I I I I I I I I M ! I I I I I I I I I II I I f I ! l

DIFFERENTIAL

I I I I I I 111 I I11 11 11 11 11 I I

DIFFERENTIAL

1987 1989

I PERCENT ON DIFFERENTIAL SCALE = 2 PERCENT ON RATE SCALE

I I I I I I I ' I ' l l I I I I I I III I I I I I III

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 PERCENT PER ANf

UNITED STATES

I I I I I I

- CANADA

\ , Zvs j\Z\r~ vx

1 1 1 1 1 1

UNITED KINGDOM - FRANCE

v 1 1 1

< f r

1 1 1

A '

SWITZERLAND

I I I I I I

__ JAPAN -

1 1 1 1 1 1 Ill II l u l u

NETHERLANDS MONTHLY

I I I

GERMANY

I I I I I I 1987 1989 1987 1989


600

500

400

300

200

150

800

600

500

400

300

200

300

250

200

150

100

600

500

400

300

200

CHART 10

INDUSTRIAL STOCK INDICES WEEKLY SERIES

SCALE 00 RATIO SCALE 1969=100

UNITED STATES NETHERLANDS

J A P A N GERMANY

- 300

SWITZERLAND FRANCE

CANADA

I I I

' V I I I

t v / v V x - A ^ yV/w-r

UNITED KINGDOM

1987 1989 1987 1989


S E R I E S SAME L A S T VALUE PLOTTED

DATE VALUE

CHART 1 . S P O T EXCHANGE R A T E S AND I N D I C E S

WEEKLY A V E R A G E S , NOON BUYING RATES ( U . S . CENTS)

GERMAN MARK MAY 2 4 5 0 . 17 J A P A N E S E YEN MAY 2 4 0 . 7 1 0 0 4 DUTCH GUILDER MAY 2 4 4 4 . 5 2 U . K . POUND MAY 2 4 1 5 9 . 0 9 CANADIAN DOLLAR MAY 2 4 6 3 . 6 4 FRENCH FRANC . MAY 2 4 1 4 . 8 2 S S 1 S S FRANC MAY 2 4 5 6 . 3 0 B E L G I A N FRANC MAY 2 4 2 . 3 9 7 7 9 I T A L I A N L I R A MAY 2 4 0 . 0 6 9 1 1 SWEDISH KRONA MAY 2 4 1 4 . 5 5

I N D I C E S , HABCii 1 9 7 3 BASE RATES = 1 0 0

GERMAN MASK MAY 2 4 1 4 1 . 1 5 J A P A N E S E YEN MAY 2 4 1 8 5 . 9 1 DUTCH G U I L D E R MAY 2 4 1 2 7 . 8 2 O . K . POUND MAY 2 4 6 4 . 3 5 CANADIAN DOLLAR MAY 2 4 8 3 . 3 6 FRENCH FRANC MAY 2 4 6 6 , 7 6 S W I S S FRANC MAY 2 4 1 8 1 . 1 4 B E L G I A N FRANC MAY 2 4 9 4 . 4 8 I T A L I A N L I R A MAY 2 4 3 9 . , 2 6

WEIGHTED AVERAGE EXCHANGE VALUE I N D I C E S , HAS 1 9 7 3 = 1 0 0 ( G - 1 0 C O U N T R I E S P L U S SWITZERLAND)

U. S . DOLLAR MAY 2 4 1 0 3 . 1 5 GERMAN MARK MAY 2 4 1 5 5 . 4 9 J A P A N E S E YEN MAY 2 4 2 0 5 . 8 0 DUTCH G U I L D E R MAY 2 4 1 3 3 . 4 6 U . K . POUND MAY 2 4 6 3 . 14 CANADIAN DOLLAR MAY 2 4 8 4 . 3 8 FRENCH FRANC MAY 2 4 6 5 . 5 2 S W I S S FRANC MAY 2 4 1 8 8 . 9 5 BELGIAN FRANC MAY 2 4 9 6 . 6 5 I T A L I A N L I R A MAY 2 4 3 7 . 5 2 SWEDISH KRONA MAY 2 4 6 5 . 0 8

CHART 2 . 3 -MONTH FORWARD EXCHANGE B A T E S , PREMIUM OR D I S C O U N T

CANADIAN DOLLAR MAY 2 4 2 . 5 9 U . K . POUND MAY 2 4 - 3 . 4 0 GERMAN MARK MAY 2 4 2 . 4 5 FRENCH FfiANC MAY 2 4 0 . 6 8 S W I S S FRANC MAY 2 4 1 . 8 8 DUTCH G U I L D E R MAY 2 4 2 . 0 9 J A P A N E S E YEN MAY 2 4 #. 4 9 I T A L I A N L I R A MAY 2 4 - 2 . 4 b


S E R I E S - NAME-L A S T VALUE PLOTTED

DATE VALUE

CHART 3 . GOLD P R I C E I N LONDON, AFTERNOON F I X I N G

U . S . DOLLARS PER F I N E OUNCE MAY 2 4 3 6 4 . 2 5

4 . CALL MONEY RATES

U . S . FEDERAL FUNDS MAY 2 4 9 . 74 OVERNIGHT EURO-DOLLAR D E P O S I T S MAY 2 4 9 . 6 0 U. K. MAY 2 4 1 1 . 7 7 CANADA MAY 2 4 1 2 . 6 9 GERMANY MAY 2 4 6 . 3 2 JAPAN MAY 2 4 4 . 2 2 FRANCE MAY 2 4 8 . 5 9 NETHERLANDS MAY 2 4 b . 2 b SWITZERLAND MAY 2 4 6 . 7 7

CHART 5 . 3 -MONTH I N T E R E S T MATES

U . S . 9 0 - D A Y C D ' S , SECONDARY MARKET MAY 2 4 9 . 4 1 GERMAN INTERBANK LOAN MAY 2 4 7 . 1 4 J A P A N E S E G E t i S A K l RATE MAY 2 4 4 . 2 5 CANADIAN F I N A N C E P A P a n MAY 2 4 1 2 . 3 1 INTERBANK S T E R L I N G MAY 2 4 1 3 . 0 3 S W I S S INTERBANK LOAN MAY 2 4 7 . 42 FRENCH INTERBANK RATE MAY 2 4 8 . 8 b NETHERLANDS INTERBANK RATE MAY 2 4 7 . 3 4 WEIGHTED AVERAGE F O R E I G N I N T E R E S T RATE MAY 2 4 8 . 3 9

( G - 1 0 C O U N T R I E S P L U S SHITk.EBLAND)

CHART o . EURO-DOLLAR D E P u S I T R A T E S :

OVERNIGHT 7-DAY 1 -AONTH 3 - MONTH 6-MONTH 1 - Y E A R

LONDON

MAY 2 4 9 . 6 0 MAY Z4 9 . cO MAY 2 4 9 . 5 6 MAY 2h 9 . 4 6 MAY 2 4 9 . 4 1 MAY 2 4 9 . 4 5

CHART 7 . S E L E C T E D EURO-DOLLAR AND U . S . MONEY MAK&6T RATES

OVERNIGHT EURO-DOLLAR D E P O S I T S MAY 2 4 9 . 6 0 U . S . FEDERAL FUNDS MAY 2 4 9 . 7 4 D I F F E R E N T I A L MAY 2 4 - 0 . 14

3 -MONTH EURO-DOLLAR D E P O S I T BATE MAY 2 4 9 . 4 6 U . S . 9 0 - D A Y C D ' S , SECONDARY MARKET MAY 2 4 9 . 4 1 D I F F E R E N T I A L MAY 2 4 0. 2 3


S E R I E S NAME L A S T VALUE PLOTTED

DATE VALUE

CHART 8 . I N T E R E S T A R B I T R A G E , 3 -MONTH FUNDS

EURO-DOLLAR D E P O S I T HAY 2 4 9 . 4 6 INTERBANK S T E R L I N G ( L O N D O N ) , COVERED NAY 2 4 9 . 5 1 D I F F E R E N T I A L MAY 2 4 - 0 . 0 5

U . S . COMMERCIAL PAPER MAY 2 4 9 . 3 0 CANADIAN F I N A N C E P A P E R , COVERED MAY 2 4 9 . o 4 D I F F E R E N T I A L MAY 2 4 - 0 . 3 4

EURO-DOLLAR D E P O S I T MAY 2 4 9 . 4 6 INTERBANK DM (FRANKFURT) , COVERED MAY 2 4 9 . 6 4 D I F F E R E N T I A L MAY 2 4 - 0 . 1 8

EURO-DOLLAR D E P O S I T MAY 2 4 9 . 4 6 S W I S S I N T E R B A N K , COVERED MAY 2 4 9 . 3 4 D I F F E R E N T I A L MAY 2 4 0 . 1 3

CHART 9 . LONG TERM GOVERNEDT dOND Y I E L D S

UNITED S T A T E S MAY 1 2 9 . 0 5 GERMANY MAY 19 7 . 12 JAPAN MAY 1 2 4 . 8 6 SWITZERLAND MAY 1 9 5 . 3 5 CANADA MAY 1 2 1 0 . 2 0 FRANCE MAY 1 2 9 . 1 8 NETHERLANDS (MONTHLY) MARCH 6 . 9 3 UNITED KINGDOM MAY 1 9 9 . 0 2

U . S . CORPORATE

AAA BONDS MAY 9 . 3 d

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

U N I T E D S T A T E S MAY 2 4 3 3 8 . 2 1 U N I T E D KINGDOM MAY 2 4 3 9 0 . 0 2 CANADA MAY 2 4 3 6 3 . 2 4 GERMANY HAY 2 4 2 4 6 . 6 6 SWITZERLAND MAY 2 4 2 2 3 . 6 9 NETHERLANDS MAY 2 4 3 3 2 . 1 0 FRANCE HAY 2 4 4 6 9 . 4 1 JAPAN MAY 2 4 6 6 5 . 4 8


Of CQVy

FEDERAL RESERVE statistical release

H.10(512) MAY 26, 1989 FOREIGN EXCHANGE RATES FOR THE WEEK ENDING MAY 26, 1989

The Board of Governors of the Federaf 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 t ransfers payable in foreign currencies:

COUNTRY MONETARY

UNIT (CURRENCY UNITS PER DOLLAR)

COUNTRY MONETARY

UNIT MAY 22 MAY 23 MAY 24 MAY 25 MAY 26 AUSTRALIA DOLLAR 74.35 74.75 74.70 75.65 75.20 AUSTRIA SCHILLING 14.144 14.130 14.145 14.038 13.990 BELGIUM FRANC 42.060 42.040 42.140 41.750 41.640 CANADA DOLLAR 1.1958 1.1980 1.2005 1.2080 1.2055 CHINA,P.R. YUAN 3.7314 3.7314 3.7314 3.7314 3.7314 DENMARK KRONE 7.8350 7.8310 7.8460 7.7760 7.7570 FINLAND MARKKA 4.4750 4.4785 4.4890 4.4500 4.4390 FRANCE FRANC 6.8030 6.7980 6.8160 6.7560 6.7400 GERMANY D. MARK 2.0090 2.0084 2.0120 1.9945 1.9895 GREECE DRACHMA 170.200 170.500 170.700 170.240 167.950 HONG KONG DOLLAR 7.7800 7.7760 7.7850 7.7820 7.7810 INDIA RUPEE 16.2800 16.2400 16.3100 16.2600 16.1800

IRELAND POUND 133.10 133.30 132.75 134.00 134.80 ITALY LIRA 1457.00 1456.00 1457.00 1443.25 1440.00 JAPAN YEN 142.05 142.00 142.80 142.00 141.43 MALAYSIA RINGGIT 2.7035 2.6890 2.6970 2.6960 2.6910 NETHERLANDS GUILDER 2.2639 2.2635 2.2675 2.2485 2.2415

*NEW ZEALAND DOLLAR 59.300 59.480 59.300 59.350 59.300 NORWAY KRONE 7.2250 7.2325 7.2410 7.1935 7.1770 PORTUGAL ESCUDO 165.800 165.750 166.250 164.530 163.550 SINGAPORE DOLLAR 1.9680 1.9545 1.9560 1.9560 1.9535 SOUTH AFRICA RAND 2.7780 2.7690 2.7930 2.7770 2.7425 SOUTH KOREA WON 669.40 669.50 669.50 669.50 669.40 SPAIN PESETA 125.400 125.350 125.700 124.500 125.380 SRI LANKA RUPEE 34.158 34.148 34.137 34.117 34.117 SWEDEN KRONA 6.7620 6.7510 6.7595 6.7120 6.6970 SWITZERLAND FRANC 1.7923 1.7883 1.7860 1.7562 1.7370 TAIWAN DOLLAR 25.900 25.985 25.925 25.920 25.932 THAILAND BAHT 25.840 25.930 25.950 25.930 25.850 UNITED KINGDOM POUND 158.06 156.78 156.95 158.03 158.80

MEMO: 1UNITED STATES DOLLAR 103.78 103.85 104.05 103.32 102.99 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 IS U.S. CENTS


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