h13_19891002.pdf

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Selected Interest & Exchange Rates Weekly Series of Charts

October 2,1989 DIVISION O F 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. S P O T 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 yea r or $.60 e a c h in the United S t a t e s , its p o s s e s s i o n s , C a n a d a , and Mexico; 10 or m o r e of t h e s a m e i s s u e to o n e a d d r e s s , $22.50 per year or $.55 e a c h . Elsewhere , $30.00 per year or $.70 e a c h . A d d r e s s r e q u e s t s to Pub l i c a t i ons Serv ices . Division of Adminis t ra t ive Services , and m a k e pay-m e n t r e m i t t a n c e p a y a b l e to t he order of t he Board of G o v e r n o r s of t h e Federa l Reserve S y s t e m in a fo rm co l l ec t ib l e at par in U.S. Cur rency .


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

DALE 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 i 1973=100

RATIOS MARCH 197:

FOREIGN CURRENCY PRICE OF U.S. DOLLAR

SWISS FRANC

BELGIAN FRANC

I I I I I I

JAPANESE YEN

U.K. POUND

l l l

CANADIAN DOLLAR

DUTCH GUILDER GERMAN MARK

ITALIAN LIRA

FRENCH FRANC

1987 1989 1987 1989


CHART 2

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


PERCENT PER ANNUM

4

CANADIAN DOLLAR

i I i

/V I I I

U . S . I

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

NCE

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

.LARS 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

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

E N T P E R ANNUM PERCENT PER ANH

U.S. FEDERAL FUNDS

ill I I I I I I I I

FRANCE

I \ A .K f v . r A / " "

JAPAN

I I I I I I

GERMANY

CANADA

UNITED KINGDOM

NETHERLANDS

SWITZERLAND

UU 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

C H A R T S

3-MONTH INTEREST RATES WEEKLY SERIES

ENT PER ANNUM

U.S. CD'S

WEIGHTED AVERAGE FOREIGN RATE

PERCENT PER A W

FRENCH INTERBANK RATE

l l l l l l

U.K. INTERBANK STERLING

GERMAN INTERBANK RATE

JAPANESE GENSAKI RATE

CANADIAN FINANCE CO.

PAPER

F -

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

SWISS INTERBANK RATE

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

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

DENT PER ANNUM

OVERNIGHT

7-DAY

1-MONTH

PERCENT PER ANI

3-MONTH

I I I I I I

-

6-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

CHART 7

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


FEDERAL FUNDS DASHED LINE

OVERNIGHT EURO-DOLLAR DEPOSITS

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

DIFFERENTIAL

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

1987 1989

IENTIAL SCALE = 2 PERCENT ON RATE SCALE

PERCENT PER ANI

3-MONTH EURO DOLLAR DEPOSITS A*

-

V \ / w v 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 I I I I I I I I I I I I I I I I I I I I I I

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

C H A R T 8

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


;ENTPER ANNUM

INTERBANK STERLING COVERED LONDON

EURO-DOLLAR DEPOSITS DASHED LINE

i i l l i h i l l m i l l M i l l i l l I I

CANADIAN FINANCE CO. PAPER, COVERED

PERCENT PER ANIS

U.S. COMMERCIAL PAPER DASHED LINE

111 M i l l u l n h i l i i l l

DIFFERENTIAL DIFFERENTIAL

I l l l l l l l 1 1 1 ULL

INTERBANK DM COVERED FRANKFURT


I I I I I I I I I I I II II 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 I I I I I M I I I I I

DIFFERENTIAL DIFFERENTIAL

I I I I I I I I I I I I I I I M I M I M I M I I M I I I I I I I I I I I I I I I I I I I I I I I I It I I

1987 1989

1 PERCENT ON DIFFERENTIAL SCALE = 2 PERCENT ON RATE SCALE

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

C H A R T 9

LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES

;ENT PER ANNUM

UNITED STATES

PERCENT PER ANH

CANADA

\ . / v s V V

I I I I I I

X y -

I l l l l l l l l l l

UNITED KINGDOM - FRANCE

-V/ I I I i i i

K v

SWITZERLAND __ JAPAN -

I I I I I I

N E T H E R L A N D S MONTHLY GERMANY -

I I I I I I

-

1987 1989 1987 1989


CHART 10

INDUSTRIAL STOCK INDICES WEEKLY SERIES

RATIO SCALE 1969*100

RATIO SCALE 1969=100

600

500 - -

400 - UNITED STATES -

300 - jf ' -

200 -

150 I I I I I I 11111111111 I l l l l l l l l l l 800

JAPAN

600 -

500 - -

400 - J\\f -

300 - / -

200 I I I I I I I l l K h l l l l

300

250 SWITZERLAND

200 -

150 - -

100 I I I I I I < . l < l l l . l l l

600

500 CANADA

400 ~

300 -

200 I I I I I I l l l . l h l l . l

NETHERLANDS

GERMANY

FRANCE

UNITED KINGDOM

- 400

1987 1989 1987 1989


S E R I E S NAME LAST VALUE PLOTTED

DATE 7AL0E

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

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

GERMAN MARK JAPANESE YEN DDTCH GUILDER O . K . POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC BELGIAN FRANC ITALIAN LIRA SWEDISH KRONA

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

GERMAN MARK JAPANESE YEN DUTCH GUILDER U. K. POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC BELGIAN FRANC ITALIAN LIRA

S E P T . 2 7 S E P T . 2 7 S E P T . 2 7 S E P T . 2 7 S E P T . 2 7 S E P T . 2 7 S E P T . 2 7 S E P T . 2 7 S E P T . 2 7 S E P T . 2 7

S E P T . 2 7 S E P T . 2 7 S E P T . 2 7 S E P T . 2 7 S E P T . 2 7 S E P T . 2 7 S E P T . 2 7 S E P T . 2 7 S E P T . 2 7

5 2 . 2 5 0^ 6 9 8 3 3

4 6 . 3 0 1 5 9 . 9 7

8 4 . 8 2 1 5 . 4 4 6 0 . 2 4

2 . 4 9 3 2 4 0 . 0 7 2 3 7

1 5 . 3 3

1 4 6 . 9 8 1 8 2 . 84 1 3 2 . 9 2

6 4 . 7 0 8 4 . 5 4 6 9 . 5 6

1 9 3 . 80 9 8 . 2 5 4 1 . 1 1

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

U. S . DOLLAR GERMAN MARK JAPANESE YEN DUTCH GUILDER U . K . POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC BELGIAN FRANC ITALIAN LIRA SWEDISH KRONA

S E P T . 2 7 S E P T . 2 7 S E P T . 2 7 S E P T . 2 7 S E P T . 2 7 S E P T . 2 7 S E P T . 2 7 S E P T . 2 7 S E P T . 2 7 S E P T . 2 7 S E P T . 2 7

1 0 0 . 6 7 1 5 8 . 9 8 1 9 7 . 0 9 1 3 5 . 9 3 62.01 8 3 . 6 6 6 6 . 9 0

1 9 8 . 0 2 9 8 . 4 0 3 8 . 51 6 7 . 18

CHART 2 . 3-MONTH FORWARD EXCHANGE R A T E S , PREMIUM OR DISCOUNT

CANADIAN DOLLAR S E P T . 2 7 - 3 . 1 6 U . K . POUND S E P T . 2 7 - 4 . 7 7 GERMAN MARK S E P T . 2 7 1 . 3 5 FRENCH FRANC S E P T . 2 7 - 0 . 3 4 SWISS FRANC S E P T . 2 7 1 . 2 1 DUTCH GUILDER S E P T . 2 7 1 . 1 7 JAPANESE YEN S E P T . 2 7 3 . 3 4 ITALIAN LIRA S E P T . 2 7 - 3 . 4 2 Digitized for FRASER

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

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

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 S E P T . 2 7 3 6 6 . 4 1

CHART 4 . CALL MONEY RATES

U . S . FEDERAL FUNDS S E P T . 2 7 9 . 02 OVERNIGHT EURO-DOLLAR DEPOSITS S E P T . 2 7 8 . 8 6 U. K. S E P T . 2 7 1 3 . 7 9 CANADA S E P T . 2 7 1 2 . 0 7 GERMANY S E P T . 2 7 6 . 8 9 JA PAN S E P T . 2 7 5 . 3 3 FRANCE S E P T . 2 7 8 . 9 1 NETHERLANDS S E P T . 2 7 6 . 94 SWITZERLAND S E P T . 2 7 6 . 3 8

CHART 5 . 3-MONTH INTEREST RATES

U . S . 90-DAY C D ' S , SECONDARY MARKET S E P T . 2 7 8 . 83 GERMAN INTERBANK LOAN S E P T . 2 7 7 . 40 JAPANESE GENSAKI RATE S E P T . 2 7 4 . 9 3 CANADIAN FINANCE PAPER S E P T . 2 7 1 2 . 3 3 INTERBANK STERLING S E P T . 2 7 1 3 . 8 8 S w I S S INTERBANK LOAN S E P T . 2 7 7 . 3 8 FRENCH INTERBANK RATE S E P T . 2 7 9 . 13 NETHERLANDS INTERBANK RATE S E P T . 2 7 7 . 5 7 WEIGHTED AVERAGE FOREIGN I N T E R E S T RATE S E P T . 2 7 8 . 82

( G - 1 0 COUNTRIES PLUS SWITZERLAND)

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

OVERNIGHT S E P T . 2 7 8 . 86 7-DAY S E P T . 2 7 8 . 9 6 1 - MO NTH S E P T . 2 7 8 . 88 3-MONTH S E P T . 2 7 8 . 83 6-MONTH S E P T . 2 7 8 . 83 1-YEAR S E P T . 2 7 8 . 7 7

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

OVERNIGHT EURO-DOLLAR DEPOSITS S E P T . 2 7 8 . 86 U . S . FEDERAL FUNDS S E P T . 2 7 9 . 02 DIFFERENTIAL S E P T . 2 7 - 0 . 16

3-HONTH EURO-DOLLAR DEPOSIT RATE S E P T . 2 7 8 . 8 3 U . S . 90 -DAY C D ' S , SECONDARY MARKET S E P T . 2 7 8 . 8 3 DIFFERENTIAL S E P T . 2 7 0 . 0 3


S E R I E S NAME LAST VALUE PLOTTED

DATE VALUE

CHART 8 . INTEREST ARBITRAGE, 3-MONTH FUNDS

EURO-DOLLAR DEPOSIT S E P T . 2 7 8 . 83 INTERBANK STERLING (LONDON), COVERED S E P T . 2 7 8 . 94 DIFFERENTIAL S E P T . 2 7 - 0 . 13

U . S . COMMERCIAL PAPER S E P T . 2 7 8 . 7 2 CANADIAN FINANCE PAPER, COVERED S E P T . 2 7 9 . 07 DIFFERENTIAL S E P T . 2 7 - 0 . 3 5

EURO-DOLLAR D E P O S I T S E P T . 2 7 8 . 83 INTERBANK DM (FRANKFURT), COVERED S E P T . 2 7 8 . 7 7 DIFFERENTIAL S E P T . 2 7 0 . 0 4

EURO-DOLLAR DEPOSIT S E P T . 2 7 8 . 8 3 SWISS INTERBANK, COVERED S E P T . 2 7 8 . 61 DIFFERENTIAL S E P T . 2 7 0 . 20

CHART 9 . LONG TERM GOVERMENT BOND YIELDS

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

U . S . CORPORATE

AAA BONDS MAY 9 . 3 3

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

UNITED STATES UNITED KINGDOM CANADA GERMANY SWITZERLAND NETHERLANDS FRANCE JAPAN

S E P T . 2 7 3 6 3 . 9 3 S E P T . 2 7 4 1 9 . 3 5 S E P T . 2 7 3 8 8 . 0 7 S E P T . 2 7 2 8 6 . 3 0 S E P T . 2 7 2 6 5 . 5 7 S E P T . 2 7 3 6 0 . 3 5 S E P T . 2 7 5 5 5 . 6 4 S E P T . 2 7 7 1 4 . 9 2


FEDERAL RESERVE statistical release

H.10(512) OCTOBER 2, 1989

FOREIGN EXCHANGE RATES FOR THE WEEK ENDING SEPTEMBER 29, 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 SEP. 25 SEP. 26 SEP. 27 SEP. 28 SEP. 29 ^AUSTRALIA DOLLAR 79.05 79.00 78.25 77.58 77.48 AUSTRIA SCHILLING 13.425 13.305 13.255 13.245 13.193 BELGIUM FRANC 39.910 39.630 39.500 39.490 39.560 CANADA DOLLAR 1.1775 1.1745 1.1777 1.1805 1.1789 CHINA,P.R. YUAN 3.7314 3.7314 3.7314 3.7314 3.7314 DENMARK KRONE 7.4200 7.3630 7.3300 7.3270 7.3085 FINLAND MARKKA 4.3300 4.3230 4.3050 4.3090 4.2915 FRANCE FRANC 6.4570 6.4020 6.3700 6.3760 6.3500 GERMANY D. MARK 1.9060 1.8890 1.8825 1.8815 1.8725 GREECE DRACHMA 165.850 166.050 164.550 164.900 164.220 HONG KONG DOLLAR 7.8050 7.8025 7.8015 7.8035 7.8030 INDIA RUPEE 16.6900 16.6900 16.7000 16.7400 16.6900

*1RELAND POUND 139.80 140.80 141.50 141.60 142.25 ITALY LIRA 1376.00 1367.00 1362.00 1369.00 1366.00 JAPAN YEN 142.70 141.88 140.60 140.55 139.60 MALAYSIA RINGGIT 2.6870 2.6890 2.6870 2.6910 2.6895 NETHERLANDS GUILDER 2.1517 2.1323 2.1256 2.1240 2.1149

*NEW ZEALAND DOLLAR 59.650 59.800 59.550 59.020 58.950 NORWAY KRONE 6.9880 6.9600 6.9460 6.9450 6.9175 PORTUGAL ESCUDO 159.500 159.200 158.300 159.100 158.700 SINGAPORE DOLLAR 1.9655 1.9670 1.9660 1.9675 1.9600 SOUTH AFRICA RAND 2.7450 2.7400 2.7160 2.7300 2.6930 SOUTH KOREA WON 672.60 672.50 672.60 672.50 672.70 SPAIN PESETA 119.350 119.050 118.900 119.150 119.050 SRI LANKA RUPEE 40.018 40.018 40.018 40.018 40.018 SWEDEN KRONA 6.5000 6.4720 6.4460 6.4555 6.4310 SWITZERLAND FRANC 1.6570 1.6400 1.6320 1.6323 1.6228 TAIWAN DOLLAR 25.570 25.770 25.690 25.840 NA THAILAND BAHT 25.930 25.900 25.850 NA 25.810

*UNITED KINGDOM POUND 160.80 162.15 161.30 160.77 161.45

MEMO: tUNITED STATES DOLLAR 99.94 99.21 98.92 99.02 98.64 SINDEX OF WEIGHTED AVERAGE EXCHANGE VALUE OF U.S. DOLLAR AGAINST CURRENCIES OF OTHER G-10 COUNTRIES. MARCH 1973 = 100. HEIGHTS 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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