h13_19891211.pdf

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Selected Interest & Exchange Rates Weekly Series of Charts

December 11,1989 DIVISION OF 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 SPOT EXCHANGE RATE INDICES

2 3-MONTH FORWARD EXCHANGE RATES

3. GOLD P R I C E - L O N D O N

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 same issue to one address. $22.50 per year or $.55 each. Elsewhere. $30.00 per year or $ 70 each. Address requests to Publ icat ions Services. Division of Administrative Services, and make pay-ment remittance payable to the order of the Board of Governors of the Federai Reserve System m a form collectible at par in U.S. Currency.

10 INDUSTRIAL STOCK INDICES

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

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 41973=100

FOREIGN CURRENCY PRICE OF U.S. DOLLAR

SWISS FRANC

U.K. POUND

DUTCH GUILDER

FRENCH FRANC

RATIOS MARCH 197:

BELGIAN FRANC

JAPANESE YEN

I I I I I I i i I i i l i i I i i

-

CANADIAN DOLLAR

- GERMAN MARK -

I I I I I I

V v __

ITALIAN LIRA

1987 1989 1987 1989

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

CHART 2

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

AVERAGES FOR WEEK ENDING WEDNESDAY

PERCENT PER ANNUM 4

CANADIAN DOLLAR

l l l

/ V I I I

^ " Z ~ W

4 jr

GERMAN MARK

I I I I I I

SWISS FRANC

I I I I I I

12

FRENCH FRANC ITALIAN LIRA

PERCENT PER ANNUM 4

U. K. POUND

I I I I I I

\ -

JAPANESE YEN

I I I I I I I I I I i l l i l l I

DUTCH GUILDER

I I I I I I

12

1987 1989 1987 1989

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

U.S. 520

500

480

460

440

420

400

380

360

340

320

300

520

500

480

460

440

420

400

380

360

340

320

300

CHARTS

PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY

1LARS PER FINE OUNCE U.S. DOLLARS PER FINE Oi

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

1986 1987 1988 1989

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

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

iENT PER ANNUM

U.S. FEDERAL FUNDS

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

FRANCE

PERCENT PER ANI

JAPAN

GERMANY

CANADA

UNITED KINGDOM

NETHERLANDS

Jill

SWITZERLAND

1987 1989 1987 1989

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

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

i 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

H

FRENCH INTERBANK RATE

PERCENT PER AW

U.K. INTERBANK STERLING CANADIAN FINANCE CO. -

PAPER

f -

I I I I I I

-

JAPANESE GENSAKI RATE SWISS INTERBANK RATE

GERMAN INTERBANK RATE

NETHERLANDS INTERBANK RATE f -

I I I I I I

1987 1989 1987 1989

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

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

SENT PER ANNUM PERCENT PER ANI

OVERNIGHT 3-MONTH

7-DAY

1-MONTH

6-MONTH

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

1-YEAR

1987 1989 1987 1989

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

f t 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.

AVERAGES FOR WEEK ENDING WEDNESDAY

iENT PER ANNUM

FEDERAL FUNDS DASHED LINE

OVERNIGHT EURO-DOLLAR DEPOSITS

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

DIFFERENTIAL

I I M I M I M I M I I I I I I I M I M

1987 1989

PERCENT ON DIFFERENTIAL SCALE = 2 PERCENT ON RATE SCALE

1987

PERCENT PER ANNUM 14

12

3-MONTH EURO-DOLLAR DEPOSITS

\j?

V ^ V

90-DAY CD S

DASHED LINE -

I I I I I I I I I I I I I I I I I 1 1 1 1 1 1 1 1 1 1 1

10

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

1989

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

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

AVERAGES FOR WEEK ENDING WEDNESDAY

iENTPER ANNUM

INTERBANK STERLING COVERED LONDON

EURO-DOLLAR DEPOSITS DASHED LINE

I I I l l I l l i l l l l I I l u l l l l l l l I I

INTERBANK DM COVERED FRANKFURT

EURO-DOLLAR DEPOSITS DASHED LINE

PERCENT PER AW

CANADIAN FINANCE CO. PAPER, COVERED

U.S. COMMERCIAL PAPER DASHED LINE

i l i i I i i l i i l i i I i i l i i l i i

DIFFERENTIAL

I I I l l l l l I I

DIFFERENTIAL

I I I I I 11 I I I 11111 i l l 11111 I I I I

SWISS INTERBANK (SF) COVERED

EURO-DOLLAR DEPOSITS DASHED LINE

J I 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 I I I I I I I I I M I l l I I I I I I I I I I I I I I I I I

DIFFERENTIAL DIFFERENTIAL

I I I I I I I I M I I I I l l I I I I l l I I I I I I I I I I I I I I

1987 1989 1987

I PERCENT ON DIFFERENTIAL SCALE = 2 PERCENT ON RATE SCALE

i l l I I I I I III I I I I I 1989

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

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

SENT PER ANNUM PERCENT PER ANI

UNITED STATES - CANADA

\ / v \ y W r ^ V X

I I I I I I

UNITED KINGDOM -

V I I I

v/v I I I i i l i H i l l n

\ V v A > / / V

- FRANCE

- V I I I

tfr 1 1 1

__ SWITZERLAND -

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

__ JAPAN -

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

NETHERLANDS - MONTHLY

I I I I I I

-

- GERMANY -

I I I I I I

-

1987 1989 1987 1989

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

600

500 - -

400 UNITED STATES

300 - y w I a^. yV\z

200 -

150 i i i i i i I l l l l l l l l l l 800

JAPAN

600 -

500 -

400 - A x / -

300 - / -

200 I I I I I I I l l l l l l l l l l

300

250 SWITZERLAND

200 -

150 - -

100 I I I I I I I l l l l l l l l l l

600

500 CANADA

-

400

300 ' y i f 200 I I I 1 1 1

NETHERLANDS

GERMANY

FRANCE

UNITED KINGDOM

1987 1989 1987 1989

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

SEMES HAHE LAST VALUE PLOTTED

DATE VALUE

CHA8T 1 . SPOT EXCHANGE BATES A ID IHDXCES

HEEKLY AVERAGES, HOON BOYIHG BATES ( 0 . S . CEHTS)

GEBflAM BASK DEC. 6 5 6 . 2 7 JAPANESE YES DEC- 6 0 . 6 9 7 1 2 DUTCH GUILDEE DEC. 6 4 9 . 8 7 0 . 1 . POUHD DEC. 6 156 .92 CA1AD1AM DOLLAR DEC. 6 8 5 . 9 4 PBEICH FBAHC DEC. 6 16 .48 SWISS FBAHC DEC. 6 6 2 . 8 1 BELGIAN FBAHC DEC. 6 2 . 6 7 9 2 7 ITAL IAN L I S A DEC. 6 0 . 0 7 6 3 2 SWEDISH KBOHA DEC. 6 15 .69

INDICES, EABCH 1973 BASE BATES = 100

GEBHAH HABK DEC. 6 158 .28 JAPANESE IEN DEC. 6 1 8 2 . 5 3 DUTCH GOILDEB DEC. 6 1 * 3 . 16 U.K. POOHD DEC. 6 6 3 . 4 7 CANADIAN DOLLAB DEC. 6 8 5 . 6 6 FBEHCH FBAHC DEC. 6 74 . 27 SBISS FBAHC DEC. 6 2 0 2 . 0 7 BELGIAN FBAHC DEC. 6 105 . 58 ITAL IAN L IBA DEC. 6 4 3 . 3 5

1SIGHTED A T A G E EXCHANGE VALUE INDICES, HAB 1973 = 100 (G-10 CODNTBIES PLUS SUTHERLAND)

0. S. DOLLAB DEC. 6 9 6 . 3 1 GEBHAH HABK DEC. 6 167. 19 JAPANESE YEN DEC. 6 1 8 9 . 7 9 DUTCH GOILDEB DEC. 6 1 4 2 . 2 1 0 . K. POOHD DEC. 6 5 8 . 6 0 CAHADIAH DOLLAB DEC. 6 8 1 . 9 8 FBEHCH FBAHC DEC. 6 6 9 . 4 5 SWISS FBAHC DEC. 6 2 0 0 . 0 3 BELGIAN FBAHC DEC. 6 102 .67 I T A L I A H L I B A DEC. 6 3 9 . 4 0 SHED I S H KBOHA DEC. 6 6 6 . 5 6

CBABT 2 . 3-MOHTH F0B8ABD EZCHAIGE BATES, PBEHXUH OB DISCOUHT

CAHADI AH DOLLAB DEC. 6 - 3 . 6 7 O.K. POOHD DEC. 6 - 6 . 3 8 GEBHAH HABK DEC. 6 0 . 1 8 FBEHCH FBAHC DEC. 6 - 2 . 1 0 SWISS FBAHC DEC. 6 0 . 3 7 DUTCH GOILDEB DEC. 6 - 0 . 1 3 JAPAHESE YEN DEC. 6 1 . 8 5 I T A L I A H L IBA DEC. 6 - 4 . 4 7

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SERIES IAHE LAST VALUE PLOTTED

DATE VALUE

CHART 3 . GOLD PRICE 18 LOSDON, AFTERHOO* FIXING

U .S . DOLLARS PER PIKE OOBCE DEC. 6 407 .44

CHART 4 . CALL HO*EI RATES

U.S. FEDERAL FU8DS DEC, 6 8 . 52 OVERSIGHT EURO-DOLLAR DEPOSITS DEC. 6 8 . 4 5 O.K. DEC. 6 14. 81 CANADA DEC. 6 12 .20 GERMANY DEC. 6 7 . 7 2 JAPAN DEC. 6 6 . 1 6 FRANCE DEC. 6 9 . 9 8 NETHERLANDS DEC. 6 8 . 2 7 SWITZERLAND DEC. 6 6 . 8 8

CHART 5 . 3-HOHTH INTEREST BATES U.S. 90-DAY C D ' S , SECONDARY HARKET DEC. 6 8 . 2 4 GERMAN INTERBANK LOAN DEC. 6 8 . 0 9 JAPANESE GENSAKI RATE DEC. 6 5 . 7 7 CANADIAN FINANCE PAPER DEC. 6 12 .33 INTERBANK STERLING DEC. 6 15. 14 SHISS INTERBANK LOAN DEC. 6 7 . 7 2 FRENCH INTERBANK RATE DEC. 6 10 .55 NETHERLANDS INTERBANK RATE DEC. 6 8 . 4 1 WEIGHTED AVERAGE FOREIGN INTEREST RATE DEC. 6 9 . 65

(G-10 COUNTRIES PLUS SWITZERLAND)

' CHART 6 . EURO-DOLLAR DEPOSIT RATES: LONDON

OVERNIGHT DEC. 6 8 . 45 7-DAY DEC. 6 8 . 4 4 1 -80 NTH DEC. 6 8 . 6 0 3-HONTH DEC. 6 8 .34 6-HONTH DEC. 6 8 . 10 1-YEAR DEC. 6 8 . 0 4

. SELECTED EURO-DOLLAR AND U . S . HONEY HARKET RATES

OVERNIGHT EURO-DOLLAR DEPOSITS DEC. 6 8 . 45 U.S. FEDERAL FUNDS DEC. 6 8 . 5 2 DIFFERENTIAL DEC. 6 -o.Gfe

3-HONTH EURO-DOLLAR DEPOSIT RATE DEC. 6 8 . 3 4 U .S . 90-DAY C D ' S , SECONDARY HARKET DEC. 6 8 . 2 4 DIFFERENTIAL DEC. 6 0 . 1 0

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

SERIES IARB LAST VALUE PLOTTED

DATE VALUE

CHIHI 8 . INTEREST ARBITRAGE* 3 -EOITH FUNDS

EORO-DOLLAR DEPOSIT DSC. 6 8 . 3 4 INTERBANK STERLING (LONDON), COVERED DEC. 6 8 . 5 2 DIFFERENTIAL DEC. 6 - 0 . 1 7

O.S. COMMERCIAL PAPER DEC. 6 8 .25 CANADIAN F I IANCB PAPER, COVERED DEC. 6 8 . 55 DIFFERENTIAL DEC. 6 - 0 . 3 0

EORO-DOLLAR DEPOSIT DEC. 6 8 . 3 4 INTERBANK Dfl (FRANKFORT), COVERED DEC. 6 8 . 2 7 DIFFERENTIAL DEC. 6 0 . 0 7

EURO-DOLLAR DEPOSIT DEC. 6 8 .34 S9ISS INTERBANK, COVERED DEC. 6 8 . 0 6 DIFFERENTIAL DSC. 6 0 . 28

CHART 9 . LONG TERM GQVERMENT BOND IIELDS UNITED STATES DEC. 1 7 . 85 GERMANY DEC. 7 . 4 2 JAPAN DEC. 1 5 . 6 6 SWITZERLAND DEC. 1 5 . 5 0 CANADA NOV. 24 9 . 6 7 FRANCE NOV. 24 9 . 62 NETHERLANDS (MONTHLY) SEPT. 7 . 23 UNITED KINGDOM DEC. 1 9 .85

O.S. CORPORATE AAA BOHDS HAY 9 . 3 3

CHABT 10. STOCK INDICES

UNITED STATES 0NITED KINGDOM CANADA GERMANY SWITZERLAND NETHERLANDS FRANCE JAPAN

DEC. 6 3 6 8 . 3 9 DEC. 6 408 .90 DEC. 6 3 9 1 . 3 9 DEC. 6 2 9 9 . 1 1 DEC. 6 258 . 17 DEC. 6 3 5 5 . 4 0 DEC. 6 5 4 5 . 9 9 DEC. 6 7 6 0 . 3 0

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

FEDERAL RESERVE statistical release

H.10(512) December 11, 1989

FOREIGN EXCHANGE RATES FOR THE WEEK ENDING DECEMBER 8 , 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 Dec. 4 Dec. 5 Dec. 6 Dec. 7 Dec. 8

AUSTRALIA DOLLAR 78.090 78.150 78.310 78.160 78.250 AUSTRIA SCHILLING 12.543 12.530 12.445 12.480 12.488 BELGIUM FRANC 37.390 37.350 37.070 37.230 37.250 CANADA DOLLAR 1.1646 1.1631 1.1607 1.1627 1.1617 CHINA,P.R. YUAN 3.7314 3.7314 3 .7314 3.7314 3.7314 DENMARK KRONE 6.9080 6.9075 6.8900 6.8820 6.8975 FINLAND MARKKA 4.2000 4.1950 4.1790 4.1890 4.1900 FRANCE FRANC 6.0820 6.0700 6.0320 6.0580 6.0605 GERMANY D. MARK 1.7810 1.7770 1.7660 1.7727 1.7722 GREECE DRACHMA 163.40 163.65 162.82 162.15 162.69 HONG KONG DOLLAR 7.8150 7.8145 7.8150 7.8145 7.8140 INDIA RUPEE 16.980 16.960 16.950 16.940 16.940

*1RELAND POUND 147.95 148.30 149.00 148.85 148.45 ITALY LIRA 1312.50 1310.00 1304.50 1307.50 1306.50 JAPAN YEN 143.58 143.80 143.85 144.32 144.28 MALAYSIA RINGGIT 2.7070 2.7070 2.7055 2.7070 2.7060 NETHERLANDS GUILDER 2.0090 2.0049 1.9932 2.0005 1.9999

*NEW ZEALAND DOLLAR 58.950 59.170 59.250 59.380 59.350 NORWAY KRONE 6.8130 6.8100 6.7700 6.7920 6.8000 PORTUGAL ESCUDO 155.27 155.20 154.45 154.75 154.70 SINGAPORE DOLLAR 1.9485 1.9470 1.9410 1.9345 1.9345 SOUTH AFRICA RAND 2.6020 2.5920 2.5780 2.5890 2.5940 SOUTH KOREA WON 675.60 675.90 676.20 676.10 676.00 SPAIN PESETA 114.90 114.85 114.16 114.40 114.53 SRI LANKA RUPEE 40.018 40.018 40 .018 40 .018 40.018 SWEDEN KRONA 6.3810 6.3740 6.3470 6.3560 6.3650 SWITZERLAND FRANC 1.6000 1.5900 1.5865 1.5925 1.5980 TAIWAN DOLLAR 26.150 26.198 26.050 26.040 26.105 THAILAND BAHT 25.830 25.830 25.830 25.830 25.840

UNITED KINGDOM POUND 156.35 157.06 157.65 157.50 157.42

MEMO: HtUNITED STATES DOLLAR 96 .51 96.33 95.92 96 .21 96.22

*VALUE I S U.S. CENTS

**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 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.

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