h13_19860113.pdf

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 a GOLD PRICE- LONDON

4. CALL MONEY RATES

5. 3-MONTH INTEREST RATES

6. EURO DOLLAR DEPOSIT RATES 7. SELECTED EURO-DOLLAR AND

U.S. MONEY MARKET RATES a INTEREST ARBITRAGE: 3-MONTH FUNDS

9. LONG-TERM GOVERNMENT BOND YIELDS 10. INDUSTRIAL STOCK INDICES

SUBSCRIPTION RATES:

Weekly $15.00 per year or $.40 each in the United States, its possessions, Canada, and Mexico; 10 or more of the same issue to one address, $13.50 per year or $.35 each. Elsewhere, $20.00 per year or $.50 each. Address requests to Publications Services, Divi-sion of Administrative Services, and make payment 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.

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

RATIO SCALE MARCH 1973=

200 s 180

100

120 -

100

90 80 70

60

50

CHART 1

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

AVERAGES FOR WEEK ENDING WEDNESDAY

FOREIGN CURRENCY PRICE OF U.S. DOLLAR

RATIO SCALE MARCH 1973=100

GERMAN MARK

ITALIAN LIRA

CANADIAN DOLLAR

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

BELGIAN FRANC -

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

180 JAPANESE YEN

f/^ - 160

- 140

- - 120

100 90

I I I i i i 11111111111 I I I I I I I 11 11 80 140

DUTCH GUILDER 120

i y 100 - v yv i W - 90 - - 80

- - 70

i i i i i i nil ill ill I ii lii hill i 60

U.K. POUND FRENCH FRANC

SWISS FRANC

1984 1986 1984 1986

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

4

+ 0

4 4

0

4

8 8

4

0 8

+ 0

8

16

24

32

8

4

' 0 12

8

4

0 8

4

0

8

+ 0

8

16

24

32

CHART 2

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

AVERAGES FOR WEEK ENDING WEDNESDAY

:ENT PER ANNUM PERCENT PER Af

CANADIAN DOLLAR

U. K. POUND

GERMAN MARK

DUTCH GUILDER

SWISS FRANC

-

I I I I I I Ill IIIllllI

JAPANESE YEN

I I I

FRENCH FRANC

I I

ITALIAN LIRA

1984 1986 1984 1986

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

U.S. DC

520

500

480

460

440

420

400

380

360

340

UNCE

520

500

480

460

440

420

400

380

360

340

320

300

280

260

CHART 3 PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY

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

12.5 Kg BARS AFTERNOON FIXING PRICE

I i I I i I I I I i I I I I I I I M

1983 1984 1985 1986

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

20

16

12

8

4

0

20

16

12

8

4

0 20

16

12

8

4

0

20

16

12

8

4

0

20

16

12

8

4

0

20

16

12

8

4

0

CHART 4

CALL MONEY RATES WEEKLY SERIES

NT PER ANNUM PERCENT PER Ah

U. S. FEDERAL FUNDS

. V

I I I

I

FRANCE

JAPAN

SWITZERLAND CANADA

UNITED KINGDOM

NETHERLANDS

M M

-

GERMANY

-

r ~

I I I I I I .iliilnlii 11liill ill I 1984 1986 1984 1986

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

14

12

10

8

6

4 16

14

12

10

8 10

8

6

4

2 9

8

7

6

5

16

14

12

10

8

6 16

14

12

10

8 10

8

6

4

2 8

6

4

2

0

CHART 5

3-MONTH INTEREST RATES WEEKLY SERIES

NT PER ANNUM PERCENT PER AN

U.S. CD'S

WEIGHTED AVERAGE FOREIGN RATE

i i l l i I i i i i 11

CANADIAN FINANCE CO. - PAPER

-

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

U.K. INTERBANK STERLING FRENCH INTERBANK RATE

GERMAN INTERBANK RATE NETHERLANDS INTERBANK RATE

-

I I I I I I

-

JAPANESE GENSAKI RATE

SWISS INTERBANK RATE

a , . , A , .

I I I I I I 1984 1986 1984 1986

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

16

14

12

10

8

6 16

14

12

10

8

6 16

14

12

10

8

6

WM

16

14

12

10

8

6 16

14

12

10

8

6 16

14

12

10

8

6

CHART 6

EURO-DOLLAR DEPOSIT RATES LONDON AVERAGES FOR WEEK ENDING WEDNESDAY

NT PER ANNUM PERCENT PER AN

OVERNIGHT 3-MONTH

7-DAY 6-MONTH

1-YEAR 1-MONTH

1984 1986 1984 1986

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

CHART 7

SELECTED EURO-DOLLAR AND U. S. MONEY MARKET RATES DIFFERENTIAL: PLUS

18

14

10

6

2 2

+ 0

2 18

14

10

6

2 2

+ 0

2

18

14

10

6

2 2

+ 0

2 18

14

10

6

2 2

0

2

CHART 8

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

AVERAGES FOR WEEK ENDING WEDNESDAY

NT PER ANNUM

EURO-DOLLAR DEPOSITS DASHED LINE

INTERBANK STERLING COVERED LONDON

CANADIAN FINANCE CO. PAPER, COVERED

PERCENT PER Ah

U. S. COMMERCIAL PAPER

I I I

DIFFERENTIAL DIFFERENTIAL

I M I I I l l 11

INTERBANK DM COVERED FRANKFURT

EURO-DOLLAR DEPOSITS DASHED LINE

1 _ L I I I

SWISS INTERBANK (SF) COVERED

EURO-DOLLAR DEPOSITS DASHED LINE

_L_L

DIFFERENTIAL

1 1 1 I I n i l i l l i l l ! n 1111111 M

DIFFERENTIAL

JL1 J _ l 1984 1986

I PERCENT ON DIFFERENTIAL SCALE = 2 PERCENT ON RATE SCALE

1984 1986

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

17

15

13

11

9

7 15

13

11

9

7 10

8

6

4 18

16

14

12

10

8

6

17

15

13

11

9

7 9

7

5

3

1

10

8

6

4 18

16

14

12

10

8

6

CHART 9

LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES

IT PER ANNUM PERCENT PER AN

UNITED STATES CANADA

UNITED KINGDOM

l I I l I I,

SWITZERLAND

I I I I I I

-

JAPAN

I I I I I I I

U. S. CORPORATE MONTHLY

Aaa BONDS

I I I

GERMANY

J _ L JLilLilL

1984 1986

, FRANCE

-

__ I NETHERLANDS

i

I I I

MONTHLY

-

1984 1986

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

CHART 10

INDUSTRIAL STOCK INDICES WEEKLY SERIES

RATIO SCALE 1969=100

RATIO SCALE 1969=100

UNITED KINGDOM

UNITED STATES

NETHERLANDS

GERMANY

2 6 0 2 6 0

2 2 0 Z V X A / 2 2 0 FRANCE J

1 8 0 - a A - - J 1 8 0

SWITZERLAND J "

1 4 0 1 4 0

1 0 0 - - 1 0 0

8 0 1 1 1 i i i 11111111111 N I L , L U L U I I I i i i n i l I l u l l I I l l l l l l l l l l 8 0 3 4 0 3 4 0

3 0 0 3 0 0 CANADA Y *

2 6 0 JAPAN J V W W V vy 2 6 0

2 2 0 - /A - - F 2 2 0

1 8 0 - V - v V - - - 1 8 0

1 4 0 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 i i i i i i 11111111111 I l l l l l l l l l l 1 4 0 1 9 8 4 1 9 8 6 1 9 8 4 1 9 8 6

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

SERIES SAME LAST VALUE PLOTTED

DATE VALUE

CHART 1. SPOT EXCHANGE BATES AMD INDICES

WEEKLY AVERAGES, NOON BUYING BATES (U.S. CENTS) GERMAN MARK JAN. 8 40. 82 JAPANESE YEN JAN- 8 0. 43635 DUTCH GUILDER JAN. 8 36. 23 U.K. POUND JAN. 8 144. 14 CANADIAN DOLLAR JAN. 8 71. 30 FRENCH FRANC JAN. 8 13. 31 SWISS FRANC JAN. 8 48. 32 BELGIAN FRANC JAN. 8 1. 99914 ITALIAN LIRA JAN. 8 0. 05983 SWEDISH KRONA JAN. 8 13. 19

INDICES, HARCH 1973 BASE RATES = 100 GERMAN MARK JAN. 8 114.84 JAPANESE YEN JAN. 8 129.96 DUTCH GUILDER JAN. 8 104.01 U.K. POUND JAN. 8 58.30 CANADIAN DOLLAR JAN. 8 71.07 FREUCH FRANC JAN. 8 59. 98 SWISS FRANC JAN. 8 155.45 BELGIAN FRANC JAN. 8 78.78 ITALIAN LIRA JAN. 8 33.99

WEIGHTED AVERAGE EXCHANGE VALUE INDICES, MAR 1973 = 100 (G-10 COUNTRIES PLUS SWITZERLAND)

9.5. DOLLAR JAN. 8 123.90 GERMAN MARK JAN. 8 144.37 JAPANESE YEN JAN. 8 161.98 DUTCH GUILDER JAN. 8 124.91 U.K. POUND JAN. 8 66.40 CANADIAN DOLLAR JAN. 8 83.00 FRENCH FRANC JAN. 8 68. 26 SWISS FRANC JAN. 8 18 7.27 BELGIAN FRANC JAN. 8 92.90 ITALIAN LIRA JAN. 8 37.53 SWEDISH KRONA JAN. 8 68.24

CHART 2. 3-80NTH FORWARD EXCHANGE BATES, PREMIUM 08 DISCOUNT CANADIAN DOLLAR JAN. 8 -1.58 U.K. POUND JAN. 8 -3.78 GERMAN MARK JAN. 8 3.26 FRENCH FRANC JAN. 8 -4.92 SWISS FRANC JAN. 8 3.96 DUTCH GUILDER JAN. 8 2.14 JAPANESE YEN JAN- 8 1.39 ITALIAN LIRA JAN. 8 -8.85

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

SERIES NAME LAST VALUE PLOTTED

DATE VALUE

CHART 3. GOLD PRICE IS LONDON, AFTERNOON FIXING U.S. DOLLARS PER FINE OUNCE JAN. 8 328.73

, CALL HONEY RATES U.S. FEDERAL FUNDS JAN. 8 8. 20 OVERNIGHT EURO-DOLLAR DEPOSITS JAN. 8 8.21 U.K. JAN. 8 11.07 CANADA JAN. 8 9.63 GERMANY JAN. 8 4.51 JAPAN JAN. 8 7.21 FRANCE JAN. 8 9.00 NETHERLANDS JAN. 8 5.61 SWITZERLAND JAN. 8 1.00

CHART 5. 3MONTH INTEREST RATES U.S. 90-DAY CD'S, SECONDARY MARKET JAN. 8 7. 76 GERMAN INTERBANK LOAN JAN. 8 4.69 JAPANESE GENSAKI RATE JAN. 8 6.81 CANADIAN FINANCE PAPER JAN. 8 9.66 INTERBANK STERLING JAN. 8 11.98 SWISS INTERBANK LOAN JAN. 8 4.03 FRENCH INTERBANK BATE JAN. 8 9.00 NETHERLANDS INTERBANK RATE JAN. 8 5.72 WEIGHTED AVERAGE FOREIGN INTEREST RATE JAN. 8 7.83

(G-10 COUNTRIES PLUS SWITZERLAND)

CHART 6. EURO-DOLLAR DEPOSIT RATES: LONDON OVERNIGHT JAN. 8 8.21 7-DAY JAN. 8 8. 10 1-MONTH JAN. 8 8.00 3-HONTH JAN. 8 7. 93 6-MONTH JAN. 8 7.93 1-YEAR JAN. 8 7.99

. SELECTED EURO-DOLLAR AND U.S. MONEY MARKET RATES OVERNIGHT EURO-DOLLAR DEPOSITS JAN. 8 8.21 U.S. FEDERAL FUNDS JAN. 8 8.20 DIFFERENTIAL JAN. 8 0.01 3-MONTH EURO-DOLLAR DEPOSIT BATE JAN. 8 7.93 U.S. 90-DAY CD'S* SECONDARY BASKET JAN. 8 7.76 DIFFERENTIAL JAM. 8 0.17

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

SERIES NAME LAST VALUE PLOTTED

DATE VALUE

CHART 8. INTEREST ARBITRAGE, 3-MONTH FUNDS EURO-DOLLAR DEPOSIT JAN. 8 7. 93 INTERBANK STERLING (LONDON), COVERED JAN. 8 8. 08 DIFFERENTIAL JAN. 8 -0. lb

U.S. COMMERCIAL PAPER JAN. 8 7. 68 CANADIAN FINANCE PAPER, COVERED JAN. 8 8. 05 DIFFERENTIAL JAN. 8 -0. 37

EURO-DOLLAR DEPOSIT JAN. 8 7. 93 INTERBANK DM (FRANKFURT), COVERED JAN. 8 7. 99 DIFFERENTIAL JAN. 8 -0. 06

EURO-DOLLAR DEPOSIT JAN. 8 7. 93 SWISS INTERBANK, COVERED JAN. 8 8. 03 DIFFERENTIAL JAN. 8 -0. 11

CHART 9. LONG TERM GOVBRMENT BOND YIELDS UNITED STATES JAN. 3 9.03 GERMANY JAN. 3 6. 32 JAPAN (MONTHLY) JAN. 6.29 SWITZERLAND DEC. 27 4.53 CANADA JAN. 3 10.04 FRANCE JAN. 3 11.33 NETHERLANDS (MONTHLY) OCT. 7.03 UNITED KINGDOM JAN. 3 10.03

U.S. CORPORATE AAA BONDS NOV. 10.55

CHART 10. STOCK INDICES UNITED STATES UNITED KINGDOM CANADA GERMANY SWITZERLAND NETHERLANDS FRANCE JAPAN

JAN. 1 2*6.72 JAN. 1 248.74 JAN. 1 287.28 JAN. 1 278.99 JAN. 1 197.01 JAN. 1 291.26 JAN. 1 269.47 JAN. 1 280.42

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

FEDERAL RESERVE statistical release m S M

H.10 (512)

FOREIGN EXCHANGE RATES FOB III WEEK EBDIBG JABOABI 10, 1986

JAIUAat 10, 1986

i r u r a l Wmtw Bank of New Ye* hee certified tor custom* The Boon! at Qootwow ot #he federal Neemw tytow t> edWeed the I i Ihe toHoertng noon buying rntee In New Yortt Ctty tor coble tionetore payable In kwetgn oumenctoe:

CODITBT HOIBT1BT [COBBBMCI OBITS PEB DOLLAB)

CODITBT O U T Jl*. 6 JIB. 7 JA*. 8 JAM. 9 JAM. 10 *A051*1111 DOU1B 68.07 68.85 68.86 69.65 69.56 A0STBI1 SCBIL1IBG 17.225 17.170 17.220 17.200 17.2bS BELGIOB FBAIC 50.010 49.870 49.970 50.050 50.170 BRAXIL CBUZEIBO 10695.00 10760.00 10830.00 10830.00 10965.00 CAB1D1 DOLLAB 1.4070 1.3993 1.4015 1.3980 1.3937 caimi.p.a. 1011 3.2095 3.2095 3.2095 3.2095 3.2095 DBBH1BK EBOME 8.9380 8.9330 8.9750 8.9280 8.9675 FIML11D E1BKK1 5.3975 5.4000 5.4250 5.4085 5.4245 PB1IC8 PB1IC 7.#980 7.4930 7.5370 7.5150 7.5350 GEBB11I D. H1BK 2.4480 2.4445 2.4565 2.4480 2.4555 GREECE DB1CH01 148.300 147.500 148. 500 149.800 149.250 HOBG KOIG DOLL1B 7.8105 7.8080 7.8060 7.8035 7.8080 I BOX A BUPEE 12.1700 12.1300 12.1600 12.1900 12.0900 IREL1ID POOID 124.95 124.95 124.00 124.80 124.33 ITALI LIRA 1668.00 1667.00 1675.00 1670.00 1673.00 JAP A* IB* 201.90 201.70 202.10 202.10 202.35 HALATSI1 B1BGGXT 2.4315 2.4320 2.4325 2.4360 2.4330 flEXXCO PESO *1 11 *A *A *A *ETHEBL1*DS GUILDBB 2.7580 2.7535 2.7675 2.7535 2.7635 **BS 2E1L1MD DOLLAB 52.400 52.000 49.800 50.700 50.500 HOEHIT KBOIB 7.5360 7.5360 7.5660 7.5410 7.5810 PORTOGIL ESCODO 158.500 157.000 158.600 159.300 158.200 SIBG1POEE DOLLAB 2.1185 2.1160 2.1215 2.1215 2.1200 SOUTH 1FRIC1 B1BD 39.40 39.95 40. 40 41.20 41.90 SOUTH BOBBl BO* 893.00 892.60 892.20 892.70 893.20 SP1I1 PESETA 153.370 152.750 153.300 153.100 156.750 SBI LlflKl BOPBE 27.460 27.465 27.465 27.477 27.473 SBBDB* EBOB1 7.5590 7.5740 7.6225 7.5800 7.6075 S8IT2EBL1VD PB1BC 2.0690 2.0735 2.0860 2.0780 2.0840 TilEll DOLLAB 39.870 39.850 *A 39.810 *1 THIILIID B1HT 26.710 26.680 26.690 26.720 26.690 UIITED KIVGDOfl POUBD 143.55 143.95 144.33 145.00 145.45 BB10: iUBITED STATES DOLLAB 123.93 123.74 124.15 123.80 123.97 *IBDBI or WEIGHTED AT BRASS E I CHAISE TALOX OF O.S. DOLLAB AGAI1ST COBBBBCXES OF OIHBB 6-10 COOBTBIES. BABCB 1973 = 100. BBIGHTS ABB 1972-76 GLOBAL TBADB OF EACH OF XHB 10 COOBIBIBS. SERIES BETISED AS OF A060ST 1978. FOB DESCBIPTIOB ABO BACK DATA, SEE "XBDEX OF TBB BBIGBTlD-AfEBACE EXCBABGE VALOE OF XBE O.S. DOLLAR: BEfXSIOB" OB PAGE 700 OF M B AOCOS* 1978 FEDEBAL &ESEBTE B0LLETI*..

VALOE IS O.S.,CEBTS

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