h13_19860421.pdf

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Selected Interest & Exchange Rates Weekly Series of Charts

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April 21,1986 I

Prepared by the FINANCIAL MARKETS SECTION

DIVISION OF INTERNATIONAL FINANCE

BOARD OF GOVERNORS FEDERAL RESERVE SYSTEM Washington, D C. 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 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

8. 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.


RATIO < MARCH

200 180

160

140

120

100

200 180

160

140

120

100

80 140

120

100

90 80 70

60 90 80 70

60

50

40

120

100 90 80 70

60

50

CALE 1=100

50 45 40

35

30

25 200 180

160

140

120

100

80 140

120

100 90 80 70

60 90 80 70

60

50

40

240

200 180

160

140

120

100

C H A R T 1

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

AVERAGES FOR WEEK ENDING WEDNESDAY : A L E 973=100

RATIO 2 MARCH 197

FOREIGN CURRENCY PRICE OF U.S. DOLLAR ITALIAN LIRA

JAPANESE YEN GERMAN MARK

DUTCH GUILDER CANADIAN DOLLAR

U.K. POUND

BELGIAN FRANC

- FRENCH FRANC

-

I I I

SWISS FRANC

1984 1986 1984 1986 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 PERCENT PER ANNUM

JAPANESE YEN

12

SWISS FRANC

CANADIAN DOLLAR

4 U. K. POUND

+ 0

4

8 8 GERMAN MARK

4

0

8 FRENCH FRANC

24

32 1984 1986

DUTCH GUILDER

ITALIAN LIRA

32 1984 Digitized for FRASER

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

U.S. D<

520

500

480

460

440

420

400

380

360

340

320

300

280

260

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

IS PER FINE OUNCE U.S. DOLLARS PER FINE

12.5 Kg BARS AFTERNOON FIXING PRICE

1983 1984 1985 1986


20

16

12

8

4

6 20

16

12

8

4

0

20

16

12

8

4

0

WM 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 FRANCE

JAPAN

SWITZERLAND CANADA

UNITED KINGDOM

NETHERLANDS

I GERMANY

-

y vV v ' * u W v w .

I I I I I I ill ii hill i 1984 1986 1984 1986


PERC

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 14

12

10

8

6 10

8

6

4

2 8

6

4

2

0

CHART 5

3-MONTH INTEREST RATES WEEKLY SERIES

T PER ANNUM PERCENT PER AN

U.S. CD'S

WEIGHTED AVERAGE FOREIGN RATE

i l

U.K. INTERBANK STERLING

GERMAN INTERBANK RATE

I I I I I

JAPANESE GENSAKIRATE

CANADIAN FINANCE CO. - PAPER

L -

I I I I I I

l FRENCH INTERBANK RATE

-

I I I I I I

1 -

NETHERLANDS INTERBANK RATE

1 1 1 1 1 1

SWISS INTERBANK RATE

1984 1986 1984 1986


16

14

12

10

8

6 16

14

12

10

8

6 16

14

12

10

8

6

NUM

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

ENT PER ANNUM PERCENT PER AL

OVERNIGHT 3-MONTH

I I I I I I I I I I I

6-MONTH 7-DAY

1-MONTH 1-YEAR

1984 1986 1984 1986


16

14

12

10

8

6

4 2

1

+ 0

1

16

14

12

10

8

6

4 2

1

0

1

CHART 7

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


NT PER ANNUM PERCENT PER A

FEDERAL FUNDS DASHED LINE

OVERNIGHT E U R O - D O L L A R DEPOSITS

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

3-MONTH E U R O - D O L L A R DEPOSITS

90-DAY CD S

DIFFERENTIAL

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

1984 PERCENT ON DIFFERENTIAL S C A L E = 2 PERCENT ON RATE SCALE

1986

DIFFERENTIAL

V ^ V / y ^ y V x A v

1 1 1 1 1 1 1 1 1 1 1 I i I i i I I I i i i i 1984 1986


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


NT PER ANNUM PERCENT PER Ah

EURO-DOLLAR DEPOSITS DASHED LINE

INTERBANK STERLING COVERED LONDON

DIFFERENTIAL

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

CANADIAN FINANCE CO. PAPER, COVERED

U. S. COMMERCIAL PAPER

DIFFERENTIAL

INTERBANK DM COVERED FRANKFURT


SWISS INTERBANK (SF) COVERED


I I I I I I I I

DIFFERENTIAL DIFFERENTIAL

nil 1984 1986

PERCENT ON DIFFERENTIAL SCALE = 2 PERCENT ON RATE SCALE

1984 1986


r e m 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

UNITED KINGDOM

JAPAN

U. S. CORPORATE MONTHLY

Aaa BONDS

CANADA

I I I

J_L

SWITZERLAND

I I I

i GERMANY

-

I I I lllllllllll iiliilnlii

FRANCE

-

- I NETHERLANDS

MONTHLY

I I I I I I I I ill I I I ill I Ill I I ill I I I I 1984 1986 1984 1986


CHART 10

INDUSTRIAL STOCK INDICES WEEKLY SERIES

RATIO SCALE 1 9 6 9 = 1 0 0

RATIO SCALE 1 9 6 9 = 1 0 0

340 300 - -

260 - -

220 UNITED STATES / J -

180 - / W A H W X -

140 - -

100 I I I i i i l l l l l l l l l l l

340 300 - Y fy* -260 - J -

220 I NETHERLANDS -

180 -

140 - A A / -

100 l l l l l l l l l l l l l l l l l l l l l l

380 . 340 - f 300 - J -260 - J -

220 / v^A / FRANCE /*

180 A

140 - -

100 A i i I I I l l l l . l l . l l l |,,

UNITED KINGDOM

GERMANY

SWITZERLAND

CANADA

1984 1986 1984 1986 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

SERIES NAME LAST 9ALOE BLOTTED

DATE VALUE

CHART 1. SPOT EXCHANGE RATES AND INDICES

MEEKLY AVERAGES, NOON BUYING BATES (U.S. CENTS) GERMAN MARK APRIL 16 43. 44 JAPANESE IEN APRIL 16 0.56117 DUTCH GUILDER APRIL 16 38. 56 U.K. POUND APRIL 16 148. 12 CANADIAN DOLLAR APRIL 16 71.82 FRENCH FRANC APRIL 16 13.64 SWISS FRANC APRIL 16 51.95 BELGIAN FRANC APRIL 16 2. 13952 ITALIAN LIRA APRIL 16 0.06340 SWEDISH KBONA APRIL 16 13.69

INDICES, MARCH 1973 BASE BATES = 100 GERMAN MARK APRIL 16 122.21 JAPANESE IEN APRIL 16 146.93 DUTCH GUILDER APRIL 16 110.70 U.K. POUND APRIL 16 59.91 CANADIAN DOLLAR APRIL 16 71.58 FRENCH FRANC APRIL 16 61.48 SWISS FRANC APRIL 16 167. 11 BELGIAN FRANC APRIL 16 84.31 ITALIAN LIRA APRIL 16 36.02

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

U.S. DOLLAR APRIL 16 117. 19 GERMAN MARK APRIL 16 147.58 JAPANESE YEN APRIL 16 176.95 DUTCH GUILDER APRIL 16 127.41 U.K. POUND APRIL 16 65.20 CANADIAN DOLLAR APRIL 16 79. 79 FRENCH FRANC APRIL 16 66.82 SWISS FRANC APRIL 16 192.84 BELGIAN FRANC APRIL 16 95.29 ITALIAN LIRA APRIL 16 38. 10 SWEDISH KRONA APRIL 16 67.79

CHART 2. 3-MONTH FOR1ARD EXCHANGE RATES, PREMIUM OR DISCOUNT CANADIAN DOLLAR APRIL 16 -2.88 U.K. POUND APRIL 16 -3.27 GERMAN MARK APRIL 16 2.26 FRENCH FRANC APRIL 16 -0.75 SWISS FRANC APRIL 16 2. 64 DUTCH GUILDER APRIL 16 1.51 JAPANESE YEN APRIL 16 2.02 ITALIAN LIRA APRIL 16 -4.88


SERIES MAKE LASS IALOE PLOTTED

DATE VALUE

CHART 3. GOLD PRICE IB LOMDOH, AFTERNOON FIXING U.S. DOLLARS PEE F 1MB OUNCE APRIL 16 340.40

4. CALL MONEY RATES U.S. FEDERAL FUNDS APRIL 16 6.97 OVERNIGHT EURO-DOLLAR DEPOSITS APRIL 16 7.05 ILK. APRIL 16 11.20 CANADA APRIL 16 10. 75 GERMANY APRIL 16 4.90 JAPAN APRIL 16 4. 76 FRANCE APRIL 16 8.27 NETHERLANDS APRIL 16 5.21 SWITZERLAND APRIL 16 1.00

CHAfcT 5. 3-MONTH INTEREST RATES U.S. 90DAY CD'S, SECONDARY MARKET APRIL 16 6.49 GERMAN INTERBANK LOAN APRIL 16 4.45 JAPANESE GENSAKI RATE APRIL 16 4.96 CANADIAN FINANCE PAPER APRIL 16 9.41 INTERBANK STERLING APRIL 16 10. 20 SWISS INTERBANK LOAN APRIL 16 4.00 FRENCH INTERBANK RATE APRIL 16 7. 49 NETHERLANDS INTERBANK RATE APRIL 16 5. 13 WEIGHTED AVERAGE FOREIGN INTEREST RATE APRIL 16 6.87

(G-10 COUNTRIES PLUS SWITZERLAND)

CHART 6. EURO-DOLLAR DEPOSIT RATES: LONDON OVERNIGHT APRIL 16 7.05 7-DAY APRIL 16 6.94 1-MONTH APRIL 1o 6. 80 3-MONTH APRIL 16 6.71 6-MONTH APRIL 16 6.71 1-YEAR APRIL 16 6.72

CHART 7. SELECTED EURODOLLAR AND U.S. EONEI MARKET RATES OVERNIGHT EURO-DOLLAR DEPOSITS APRIL 16 7.05 0. S. FEDERAL FUNDS APRIL 16 6.97 DIFFERENTIAL APRIL 16 0.08 3-MONTH EURO-DOLLAR DEPOSIT RATE APRIL 16 6.71 U.S. 90-DAY CD'S, SECONDARY MARKET APRIL 16 6.49 DIFFERENTIAL APRIL 16 0.22


SERIES NAME LAST VALUE PLOTTED

DATE VALUE

CHART 8. INTEREST ARBITRAGE, 3-MONTH FUNDS EURO-DOLLAR DEPOSIT APRIL 16 6.71 INTERBANK STERLING (LONDON), COVERED APRIL 16 6.85 DIFFERENTIAL APRIL 16 -0. 14 U.S. COMMERCIAL PAPER APRIL 16 6.51 CANADIAN FINANCE PAPER, COVERED APRIL 16 6.47 DIFFERENTIAL APRIL 16 Q. 05 EURO-DOLLAR DEPOSIT APRIL 16 6.71 INTERBANK DM (FRANKFORT), COVERED APRIL 16 6.74 DIFFERENTIAL APRIL 16 -0. 03 EURO-DOLLAR DEPOSIT APRIL 16 6.71 SWISS INTERBANK, COVERED APRIL 16 6.67 DIFFERENTIAL APRIL 16 0.04

CHART 9. LONG TERM GOVERMENT BOND YIELDS UNITED STATES APRIL 11 7.31 GERMANY APRIL 11 5.47 JAPAN (MONTHLY) JAN. 6.29 SWITZERLAND MARCH 21 4.23 CANADA APRIL 11 9.21 FRANCE APRIL 11 8. 92 NETHERLANDS (MONTHLY) FEB. 6.84 UNITED KINGDOM APRIL 11 8.43

U.S. CORPORATE AAA BONDS FEB. 9.67

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

APRIL 9 238.79 APRIL 9 302.63 APRIL 9 302.98 APRIL 9 310.52 APRIL 9 24)2.10 APRIL 9 305.31 APRIL 9 376.43 APRIL 9 321.63


FEDERAL RESERVE statistical release

APRIL 18, 1986 H.1O012) FOREIGN EXCHANGE RATES FOB TBS HBBK 101*6 APRIL 18, 1986

The Board of Oevemore of the Federal Wseervs System le edvieed that the Federal Waestve Bank of New York he* certified for cuetoms purpoeee the foHowfng noon buying retee In New York CHy for cable transfers payable In foreign currencies:

COUNTRY BONBTARI

UNIT rrnBSRMCT mm pc Diifi nni.i AB]

COUNTRY BONBTARI

UNIT APR* 14 APR. 15 APR. 16 APR. 17 APR. , 18 AUSTRALIA DOLLAR 71. 68 71. 41 71.76 71. 61 71. 75 AUSTRIA SCHILLING 16. 260 16. 230 15.770 15. 650 15. 585 BBLGIUB FRAHC 46. 980 47. 020 45. 690 45. 200 45. 420 BRAZIL CRUZADO 13. 84 13. 84 13.84 13. 84 13. 84 CANADA DOLLAR 1. 4000 1. 3923 1.3900 1. 3908 1. 3864 CHINA,P.R. TOAN 3. 2159 3. 2159 3.2159 3. 2095 3. 2095 DBNHARK KRONE 8. 5125 8. 5160 8.2800 8. 1800 8. 2050 FINLAND MARKKA 5. 2000 5. 1950 5.0950 5. 0230 5. 0400 PRAMCE FRANC 7. 3675 7. 3660 7.1650 7. 0650 7. 0720 GBRHAVI Dm HARK 2. 3130 2. 3135 2.2495 2. 2180 2. 2180 GBBBCB DRACHHA 144. 700 144. 700 141. *00 140. 250 139. 600 HONG KONG DOLLAR 7. 8005 7. 8000 7.7950 7. 7930 7.7870 INDIA RUPEE 12. 4500 12. 4900 12.4100 12. 3400 12. 2800 IBBLA1D POUND 131. 73 131. 67 135.30 137. 30 137. 12 ITALI LIRA 1586. 00 1585. 00 1541. 00 1519. 00 1524. 00 JAPAN IEN 179. 12 178. 25 176.50 175. 15 173. 80 BALAISIA RINGGIT 2. 6120 2. 5795 2.5480 2. 5325 2. 5400 NETHERLANDS GUILDER 2. 6060 2. 6070 2.5355 2. 5010 2.5050 *NBM ZBALAND DOLLAR 55. 280 55. 330 55.380 54. 980 55. 800 NOBNAI KRONE 7. 2325 7. 2500 7.1150 7. 0250 7. 0575 PORTUGAL BSCUDO 152. 350 152. 000 149.400 148. 000 148. 000 SINGAPORE DOLLAR 2. 1880 2. 1940 2. 1725 2. 1750 2.1750 SOOTH AFRICA RAND 49. 15 49. 00 49. 90 50. 50 50. 90 SOOTH KOREA HON 888. QO 888. 50 888.90 888. 40 888.40 SPAIN PESETA 146. 400 146. 100 142.730 140. 700 141.000 SRI LANKA RUPEE 27. 803 27. 803 27.833 27. 830 27.837 SNBDBN KRONA 7. 3225 7. 3210 7.1900 7. 1250 7. 1575 SWITZERLAND FRANC 1. 9350 1. ,9340 1. 8885 1. 9470 1.8570 TAIWAN DOLLAR 38. *80 38. 470 38.660 38. 640 38.630 THAILAND BAHT 26. 540 26. 520 26.500 26. 450 26.430 UNITED KIHGDOH POUND 148. 22 148. 00 150.65 152. 85 151.80 BBHO: #UNITED STATES DOLLAR 117. 70 117. 58 115.10 113. 75 113.83 INDEX OF 8EIGH1 FED AVERAGE EXCHANGE VALI IB OF U.S. DO] Li.*It i iAXISr 1 = UHBHNCIHS OR OTHBR G-TU COUITBIBS. BABCH 1973 - 100. MIGHTS 1KB 1972-76 GLOBAL TRAJDB OF BACB OF 1MB 10 C OUST RIBS SBBIBS BBTISBD AS Of A060ST 1978. FOB DBSCBIPTIOB AID SACK DATA, SBB "IlDBX OF M B IBIGHTBD-AVBRAGB IICHABGE VALOB OF IBB O.S. DOLLAR: RBVISIOH" OB PAGB 700 OF TBB AUGUST 1978 FBDBBAL RBSBSVB BOLLBTIB.

VALOB IS O.S. CBITS


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