h13_19890227.pdf

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Selected Interest & Exchange Rates Weekly Series of Charts

February 27,1989

Prepared by the FINANCIAL MARKETS SECTION

DIVISION OF INTERNATIONAL FINANCE

BOARD OF GOVERNORS FEDERAL RESERVE SYSTEM 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 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 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 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 197'

FOREIGN CURRENCY PRICE OF U.S. DOLLAR

SWISS FRANC

__ BELGIAN FRANC

IX

Jtr I I I I I I

JAPANESE YEN

I I I I I I

U.K. POUND

I I I I I I I

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

A x / "

i i i

^ v / \ v

I l l l l l l l l l l

V-

I l l l l l l l l l l

GERMAN MARK

" v x ^ / \ y v / V v / X V " X

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

SWI

v ~ SS FRANC

V

I I I I I I i i i i i i i i h i i i i i i i n i i i

PERCENT PER ANNUM 4

U. K. POUND

1 1 1 I I I

A . )

JAPANESE YEN

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

DUTCH GUILDER

I I I I I I

12

FRENCH FRANC ITALIAN LIRA

1987 1989 1987 1989


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

LLARS PER FINE OUNCE U.S. DOLLARS PER FINE O

12.5 Kg BARS AFTERNOON FIXING PRICE

I I I I I I I I I I 1986 1987 1988 1989


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

JENIFER ANNUM PERCENT PER ANI

U.S. FEDERAL FUNDS

GERMANY

M L L

11

FRANCE

JAPAN

I I I I I I

CANADA

UNITED KINGDOM

NETHERLANDS

SWITZERLAND

LLfl 1111111 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

WEIGHTED AVERAGE FOREIGN RATE

l L l l

PERCENT PER ANh

FRENCH INTERBANK RATE

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

U.K. INTERBANK STERLING CANADIAN FINANCE CO.

PAPER

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

GERMAN INTERBANK RATE SWISS INTERBANK RATE -

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

JAPANESE GENSAKI RATE

- NETHERLANDS INTERBANK RATE -

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

SENT PER ANNUM PERCENT PER ANI

OVERNIGHT 3-MONTH

7-DAY 6-MONTH

1-MONTH

-

1-YEAR

J -

I I I I I I i i l l i h i l i i i i l u l u l i i 1987 1989 1987 1989


PERCENT PER ANNUM

14

12

10

2 I I I I

2

CHART?

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


FUNDS DASHED

OVERNIGHT EURO-DOLLAR DEPOSITS

1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 i i 111111

DIFFERENTIAL

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

3-MONTH EURO-DOLLAR DEPOSITS

1987 1989

1 PERCENT ON DIFFERENTIAL SCALE = 2 PERCENT ON RATE SCALE

1987

PERCENT PER ANNUM 14

12

90-DAY CD'S DASHED LINE

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

10

DIFFERENTIAL

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

2

2

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


SENT PER ANNUM PERCENT PER ANh

INTERBANK STERLING COVERED LONDON

EURO DOLLAR DEPOSITS DASHED LINE

L_LL 1 1 1 1 1 ! n l i i l n i l i l 1 1 i n l l l l l

CANADIAN FINANCE CO. PAPER, COVERED

U.S. COMMERCIAL PAPER DASHED LINE

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

DIFFERENTIAL

I I I l l l l I I I

DIFFERENTIAL

I I I I I I 11 I I I I I I I i l l i l l I I I!

INTERBANK DM COVERED FRANKFURT

EURO-DOLLAR DEPOSITS DASHED LINE

I I l l l l l l l l l l M i l l I l l l l l N i l L i

SWISS INTERBANK (SF) COVERED

EURO-DOLLAR DEPOSITS DASHED LINE

i i l n l i i l i i l i i l i i l i i

DIFFERENTIAL DIFFERENTIAL

I , I I I I I I l l l l 1 1 1 l l l l l 1 1 1 1 l l l l l 1 1 1 I I

1987 1989

I PERCENT ON DIFFERENTIAL SCALE = 2 PERCENT ON RATE SCALE

l l l l l n i l 11 N i l I i l u l u 11

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 ANh

UNITED STATES

I I I I

CANADA

\ , z A / s y W f " \ j

I I I I I I

UNITED KINGDOM - FRANCE

v I I I I I I

SWITZERLAND

I I I I I

__ JAPAN -

I I I I I I

-

NETHERLANDS MONTHLY

JL i n

- 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 / -

200 - -

150 I I I I I I | | | | | | | | | | |

NETHERLANDS

800

600

500

400

300

200

300

250

200

150

400 JAPAN GERMANY

- A - - 300

- / V v - - ^ - 250

A\ f - - 200

- / - - - 150

i i i i i i 111,1111111 I I I I I I M11,1,1111 100

300 -

SWITZERLAND -

I I I I I I

CANADA

FRANCE

UNITED KINGDOM

1987 1989 1987 1989


SERIES NAME LAST VALUE PLOTTED

DATE VALt

CHAfiT 1 . SPOT EXCHANGE BATES AND INDICES

WEEKLY AVERAGES, NOON BOXING BATES ( U . S . CENTS)

GERMAN MARK FEB. 22 5 4 . 37 JAPANESE YEN FEB. 2 2 0 . 79122 DUTCH GUILDER FEB. 22 4 8 . 16 U. K. POUND FEB. 22 176 . 19 CANADIAN DOLLAR FEB. 22 8 4 . 01 FRENCH FRANC FEB. 22 15. 96 SWISS FBAMC FEB. 22 6 3 . 88 BELGIAN FRANC FEB. 22 2 . 59219 ITALIAN XIRA FEB. 22 0 . 07417 SWEDISH KBONA FEB. 22 15 . 86

INDICES, MARCH 1973 BASE RATES = 100

GERMAN MARK FEB. 22 1 5 2 . 94 JAPANESE YEN FEB. 22 20 7 . 17 DUTCH GUILDER FEB. 22 138 . 24 U.K. POUND FEB. 22 7 1 . 26 CANADIAN DOLLAR FEB. 22 8 3 . 73 FRENCH FRANC FEB. 22 7 1 . 92 SWISS FRANC FEB. 22 20 5 . 51 BELGIAN FRANC FEB. 22 102 . 15 ITALIAN LIRA FEB. 22 4 2 . 13

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

U.S . DOLLAR FEB. 22 9 5. 25 GERMAN MARK FEB. 2 2 158. 80 JAPANESE YEN FEB. 22 2 1 6 . 58 DUTCH GUILDER FEB. 22 135 . 72 U.K. POUND FEB. 22 6 5. 95 CANADIAN DOLLAR FEB. 22 7 9 . 25 FRENCH FRANC FEB. 22 6 6 . 35 SWISS FRANC FEB. 22 2 0 1 . 72 BELGIAN FRANC FEB. 22 9 8. 22 ITALIAN LIRA FEB. 22 3 7 . 84 SWEDISH KRONA FEB. 22 6 6 . 69

CHART 2 . 3-MONTH FORWARD EXCHANGE BATES, PREMIUM OR DISCOUNT

CANADIAN DOLLAR FEB. 22 - 1 . 91 U.K. POUND FEB. 22 - 2 . 98 GERMAN MARK FEB. 22 3 . 01 FRENCH FRANC FEB. 22 0 . 46 SWISS FRANC FEB. 2 2 3 . 82 DUTCH GUILDER FEB. 22 2 . 77 JAPANESE YEN FEB. 22 5 . 10 ITALIAN LIBA FEB. 22 - 2 . 16


SERIES SAME LAST VALUE PLOTTED

DATE VALUE

CHART 3 . GOLD PRICE IN LONDON, AFTERNOON FIXING

U . S . DOLLARS PER FINE OUNCE FEB. 22 3 8 3 . 4 6

CHART 4 . CALL HONEY RATES

U . S . FEDERAL FUNDS OVERNIGHT EURO-DOLLAR DEPOSITS U.K. CANADA GERMANY JAPAN FRANCE NETHERLANDS SWITZERLAND

FEB. 22 FEB. 22 FEB. 22 FEB. 2 2 FEB. 22 FEB. 22 FEB. 2 2 FEB. 22 FEB. 2 2

9 . 39 9 . 15

1 2 . 6 4 10 . 95

5 . 9 4 3 . 9 1 8 . 75 6. 02 4. 88

CHART 5 . 3-MONTH INTEREST RATES

U . S . 90-DAY C D ' S , SECONDARY MARKET FEB. 2 2 9 . 5 5 GERMAN INTERBANK LOAN FEB. 2 2 6 . 4 9 JAPANESE GENSAKI RATE FEB. 22 4 . 2 1 CANADIAN FINANCE PAPER FEB. 22 1 1 . 7 4 INTERBANK STERLING FEB. 2 2 1 2 . 9 5 SWISS INTERBANK LOAN FEB. 22 5 . 6 5 FRENCH INTERBANK RATE FEB. 2 2 9 . 1 1 NETHERLANDS INTERBANK RATE FEB. 22 6 . 8 0 WEIGHTED AVERAGE FOREIGN INTEREST RATE FEB. 2 2 8 . 0 3

( G - 1 0 COUNTRIES PLUS SWITZERLAND)

CHART 6 . EURO-DOLLAR DEPOSIT RATES: LONDON

OVERNIGHT FEB. 22 9 . 1 5 7-DAY FEB. 22 9 . 2 5 1-MONTH FEB. 2 2 9 . 4 1 3-MONTH FEB. 22 9 . 6 8 6-MONTH FEB. 2 2 9 . 8 6 1-YEAR FEB. 22 10 . 13

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

OVERNIGHT EURO-DOLLAR DEPOSITS FEB. 22 9 . 15 U .S . FEDERAL FUNDS FEB. 22 9 . 39 DIFFERENTIAL FEB. 22 - 0 . 24

3-MONTH EURO-DOLLAR DEPOSIT RATE FEB. 22 9 . 68 U . S . 90-DAY C D ' S , SECONDARY MARKET FEB. 2 2 9 . 55 DIFFERENTIAL FEB. 22 0 . 13


SERIES SAME LAST VALUE PL TIED

DATE VALUE

CHART 8 . INTEREST AfiBITBAGE, 3-HONTH FUNDS

EURO-DOLLAR DEPOSIT FEB. 22 9 . 6 8 INTERBANK STERLING (LONDON), COVERED FEB. 2 2 9 . 8 7 DIFFEfiENTIAL FEB. 2 2 - 0 . 2 0

U . S . COHHERCIAL PAPER FEB. 22 9 . 4 1 CANADIAN FINANCE PAPER, COVERED FEB. 2 2 9 . 7 8 DIFFERENTIAL FEB. 22 - 0 . 3 7

BUBO-DOLLAR DEPOSIT FEB. 22 9 . 6 8 INTERBANK DM (FRANKFURT) , COVERED FEB. 22 9 . 55 DIFFERENTIAL FEB. 22 0 . 13

EURO-DOLLAR DEPOSIT FEB. 22 9 . 6 8 SWISS INTERBANK, COVERED FEB. 22 9 . 5 2 DIFFERENTIAL FEB. 22 0 . 16

CHART 9 . LONG TERM COVERHENT BOND YIELDS

UNITED STATES FEB. 17 9 . 2 1 GESMANY FEB. 17 6 . 87 JAPAN FEB. 17 4 . 4 7 SWITZERLAND FEB. 17 4 . 6 8 CANADA FEB. 17 1 0 . 3 9 FRANCE FEB. 17 9 . 2 3 NETHERLANDS (MONTHLY) DEC, 6 . 4 2 UNITED KINGDOM FEB. 17 8 . 6 7

U . S . CORPORATE

AAA BONDS HAY 9 . 3 3

CHART 1 0 . STOCK INDICES

UNITED STATES UNITED KINGDOM CANADA GERMANY SWITZERLAND NETHERLANDS FRANCE JAPAN

FEB. 15 3 1 4 . 0 0 FEB. 15 3 6 8 . 7 8 FEB. 15 3 5 7 . 5 3 FEB. 15 2 3 9 . 9 4 FEB. 15 2 1 7 . 0 2 FEB. 15 3 1 6 . 6 0 FEB. 15 4 4 5 . 5 6 FEB. 15 6 5 4 . 4 7


FEDERAL RESERVE statistical release

H.10 (512 ) FEBRUARY 24 , 1989

FOREIGN EXCHANGE RATES FOR THE WEEK ENDING FEBRUARY 24 , 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 FEB. 20 FEB. 21 FEB. 22 FEB. 23 FEB. 24

AUSTRALIA DOLLAR 81 .03 82 .03 8 2 . 7 5 8 2 . 3 7 AUSTRIA SCHILLING 12 .971 12.919 12.825 12.855 BELGIUM FRANC 38.630 38.520 38 .210 38.250 CANADA DOLLAR 1.1899 1 .1958 1 .1958 1 .1987 CHINA,P.R. YUAN 3.7314 3 .7314 3 .7314 3 .7314 DENMARK KRONE 7.1760 7.1580 7 .0990 7.1185 FINLAND MARKKA H 4 .2950 4 .2830 4 .2700 4 .2770 FRANCE FRANC 6.2750 6 .2600 6 .2170 6 .2090 GERMANY D. MARK 1.8420 1.8360 1 .8215 1.8240 GREECE DRACHMA 0 154.300 154.200 153.100 153.650 HONG KONG DOLLAR 7.8035 7.8010 7.8010 7.8000 INDIA RUPEE 15.2900 15.3500 15.3000 15.3000

*1RELAND POUND L 144.80 144 .91 146.55 145.75 ITALY LIRA 1351.00 1350.00 1342.50 1348.00 JAPAN YEN 126.75 126.58 126.20 126.32 MALAYSIA RINGGIT I 2 .7335 2.7310 2.7290 2.7310 NETHERLANDS GUILDER 2.0795 2.0730 2 .0535 2.0620

NEW ZEALAND DOLLAR 61.380 61.400 62.650 62.480 NORWAY KRONE D 6.7050 6 .6900 6 .6750 6.6850 PORTUGAL ESCUDO 151.400 151.750 150.550 150.950 SINGAPORE DOLLAR 1.9270 1.9270 1.9270 1.9290 SOUTH AFRICA RAND A 2.4770 2 .4875 2.4780 2.4880 SOUTH KOREA WON 678.20 678.30 677 .30 677.30 SPAIN PESETA 114.900 115.250 114.300 114.550 SRI LANKA RUPEE Y 33.070 33.050 33 .030 33 .025 SWEDEN KRONA 6.3210 6 .3005 6 .2800 6.2850 SWITZERLAND FRANC 1.5690 1 .5685 1 .5540 1.5570 TAIWAN DOLLAR 27.720 27.760 27.760 27.780 THAILAND BAHT 25.370 25.370 25.350 25.340

UNITED KINGDOM POUND 175.02 175.05 176.00 175.30

MEMO: SUNITED STATES DOLLAR 0 . 2 5 95.46 95.33 94 .77 94 .94

tINDEX 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 I S U.S. CENTS


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