Selected Interest & Exchange Rates

Transcription

1 (5/517) Selected Interest & Exchange Rates Weekly Series of Charts i January 29, 1990 Prepared by the FINANCIAL MARKETS SECTION DIVISION OF INTERNATIONAL FINANCE BOARD OF GOVERNORS FEDERAL RESERVE SYSTEM Washington, DC

2 Table of Contents TABLES 1. LATEST FIGURES PLOTTED 2. DAILY CERTIFIED SPOT EXCHANGE RATES H. RELEASE CHARTS 1 SPOT EXCHANGE RATE INDICES 2 3-MONTH FORWARD EXCHANGE RATES 3. GOLD PRICE-LONDON 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 INDUSTRIAL STOCK INDICES SUBSCRIPTION RATES: Weekly $2.00 per year or $.60 each In the United States, its possessions, Canada, and Mexico; or more of the same issue to one address. $22. per year or $.55 each. Elsewhere. $30.00 per year or S 70 each. Address requests to Publications Services. Division of Administrative Services, and make payment remittance payable to the order of the Board of Governors of the Federal Reserve System m a form collectible at par in U.S. Currency.

3 CHART 1 SPOT EXCHANGE INDICES DOLLAR PRICES OF FOREIGN CURRENCIES AND WEIGHTED AVERAGE VALUES (THIN LINE) AVERAGES FOR WEEK ENDING WEDNESDAY RATIO SCALE MARCH 1973=0 0 FOREIGN CURRENCY PRICE OF U.S. DOLLAR BELGIAN FRANC RATIO SCALE MARCH 1973=0 0 I I I I I I I I ' I ' ' ' I I I I I I I I I I I SWISS FRANC JAPANESE YEN I I I I I ' I I ' I I I I I I I I I I I» ' I I ' U.K. POUND CANADIAN DOLLAR : I I I 1 I I DUTCH GUILDER I I I I I I I I I i I I I I I I I I GERMAN MARK 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 ITALIAN LIRA FRENCH FRANC I I I I I I I I I I ' I ' I I I I I I I I 1988 I I I I I

4 CANADIAN DOLLAR CHART 2 3-MONTH FORWARD EXCHANGE RATES PREMIUM (+) OR (-) AVERAGES FOR WEEK ENDING WEDNESDAY U.K. POUND ^ - i i i I i i i I i i GERMAN MARK JAPANESE YEN y \ K ~ SWISS FRANC mm m DUTCH GUILDER \ " i i i 1 i i i 1 i i i I i i i I I I FRENCH FRANC v ' W ' V y V \ ITALIAN LIRA i i i 1 i i i 1 i i l 1 l l l i i i 1 i i i 1 i i i I i i i

5 CHART 3 PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY U.S. DOLLARS PER FINE OUNCE 520 U.S. DOLLARS PER FINE OUNCE Kg BARS AFTERNOON FIXING PRICE

6 CHART CALL MONEY RATES WEEKLY SERIES U.S. FEDERAL FUNDS FRANCE JAPAN 0 i i i l» 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 0 CANADA GERMANY I i i i I i i i I i i i ' I ' ' ' l i i i I i UNITED KINGDOM SWITZERLAND NETHERLANDS

7 CHARTS 3-MONTH INTEREST RATES WEEKLY SERIES U.S. CD'S FRENCH INTERBANK RATE WEIGHTED AVERAGE FOREIGN RATE 2 ' ' 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. 2 U.K. INTERBANK STERLING CANADIAN FINANCE CO. PAPER 8 6 I I I I I I I I I I I I I 1 I ' I i i i I i i i I i i i 6 GERMAN INTERBANK RATE SWISS INTERBANK RATE 2 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 0 NETHERLANDS INTERBANK RATE JAPANESE GENSAKI RATE I ' 1 I I ' ' I I I ' i i i I i i i I i i i I i i i

8 CHART 6 EURO-DOLLAR DEPOSIT RATES LONDON AVERAGES FOR WEEK ENDING WEDNESDAY OVERNIGHT 3-MONTH i i i I i ' i I ' i l ' ' ' I I I I I I I I I I 7-DAY 6-MONTH I I I I I ' I I I I I I I I I I I I I I I I I I 1-MONTH 1-YEAR I 1 I I I 1 I I 1 I I I I I i i l i i i l ' i i I i i i

9 T F T CHART 7 SELECTED EURO-DOLLAR AND U.S. MONEY MARKET RATES DIFFERENTIAL: PLUS(+), FAVORS BORROWING IN U.S. AVERAGES FOR WEEK ENDING WEDNESDAY OVERNIGHT EURO-DOLLAR DEPOSITS 3-MONTH EURO-DOLLAR DEPOSITS, FEDERAL FUNDS DASHED LINE 90-DAY CD'S DASHED LINE 1 I I I I 1 I I I L J I I I I I L J I L DIFFERENTIAL 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 I I

10 CHART 8 INTEREST ARBITRAGE: 3-MONTH FUNDS DIFFERENTIAL: PLUS(+), INDICATES FAVOR DOLLAR ASSETS AVERAGES FOR WEEK ENDING WEDNESDAY INTERBANK STERLING COVERED LONDON CANADIAN FINANCE CO. PAPER, COVERED EURO-DOLLAR DEPOSITS DASHED LINE U.S. COMMERCIAL PAPER DASHED LINE I I I I I I I I I I I I I» I I I I I I I I I DIFFERENTIAL DIFFERENTIAL 2 x V~ w-^vvw I 1! 1 I I V 1 I I /VyA-vU ' ' I I I I I I I I I I I I I 2 INTERBANK DM COVERED FRANKFURT SWISS INTERBANK (SF) COVERED EURO-DOLLAR DEPOSITS DASHED LINE EURO-DOLLAR DEPOSITS DASHED LINE I I I I I ' ' I I ' I I ' I I DIFFERENTIAL ' I I I I I 1 1 I I I 1 I I ' 0 DIFFERENTIAL I I 1» 1» I I 1 I I I I I 1 I 1 I 1 I

11 CHART 9 LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES PE CENT PER ANNUM UNITED STATES CANADA PERCENT PER ANNU 8 6 I I I I I I I I I I I I I I UNITED KINGDOM i i i I i i i l i i i I i i i FRANCE 8 6 I ' I I I I I I I I I I I I SWITZERLAND I I I I I I I I I I I I I I I JAPAN ' I < I I I I I I I I I I I I NETHERLANDS MONTHLY GERMANY I i i i I i i i l i i i 6 2 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

12 RATIO SCALE 1986=0 175 UNITED STATES 5 0 CHART STOCK INDICES WEEKLY SERIES NETHERLANDS RATIO SCALE 1986= i i i l i i i I i i i I i i i JAPAN i» I i i i I i i i I i i i GERMANY I I I I I I I I I I I I I SWITZERLAND i i ' I i i i l i i i I i i i FRANCE i ' I i i i I i i i i i i,canada _ i i l i ' i I UNITED KINGDOM i I i i i i i I ' i i l ' i i l i ' i ' ' I i i i l i i i I i i i

13 SERIES 27-Dec~89 3-Jan-90 -Jan Jan~90 2-Jan-90 Chart 1. Spot Exchange Rates and Indices Noon buying rates (U.S. cents, weekly averages) Belgian franc Canadian dollar French franc German mark Italian lira Japanese yen Netherlands guilder Swiss franc U.K. pound Indices, March 1973 base rates = 0 Belgian franc Canadian dollar French franc , German mark Italian lira, Japanese yen Netherlands guilder Swiss franc , U.K. pound , # Weighted average exchange value indices, Mar. 1973=0 Belgian franc Canadian dollar French franc German mark Italian lira , Japanese yen ,, Netherlands guilder , Swedish krona , Swiss franc U.K. pound 59, U.S. dollar Chart 2. 3-Month Forward Exchange Rates, Premium or Discount Canadian dollar French franc German mark Italian lira , Japanese yen , Netherlands guilder -0,. -0, ,.58 Swiss franc -0, U.K. pound -6, , Chart 3. Gold Price in London, Afternoon Fixing U.S. dollars per fine ounce Chart. Call Money Rates U.S. federal funds ND Overnight Euro-dollar deposits Canada France Germany Japan Netherlands , Switzerland , United Kingdom

14 27-Dec-89 3-Jan-90 -Jan Jan-90 2-Jan-90 Chart 5. 3-Month Interest Rates U.S. 90-day CD's, secondary market Canadian finance paper French interbank rate German interbank rate Japanese gensaki rate Netherlands interbank rate Swiss interbank rate U.K. interbank sterling Weighted average foreign interest rate (G- Countries) Chart 6. Overnight 7-day 1-month 3-month 6-month 1-year Chart 7. Euro-Dollar Deposit Rates Selected Euro-dollar & U.S. Money Market Rates Overnight Euro-dollar deposits U.S. federal funds Differential 3-month Euro-dollar deposit U.S. 90-day CD's, secondary market Differential Chart 8. Interest Arbitrage, 3-Month Funds Euro-dollar deposit Interbank sterling (London), covered Differential U.S. commercial paper Canadian finance paper, Differential Euro-dollar deposit Interbank DM (Frankfurt), Differential Euro-dollar deposit Swiss interbank, covered Differential covered covered ND ND Chart 9. Canada France Germany Japan Switzerland United Kingdom United States Long Term Government Bond Yields ND ND ND , ND ND Chart. Canada France Germany Japan Netherlands Switzerland United Kingdom United States Stock Indices , , ,.37 13,,26 Indices (in order, rebased to 1986=0) are Toronto Composite, CAC General, FAZ Aktien, Tokyo SE (Topix), CBS All-General, Swiss Bank Index, Financial Times Ordinary, NYSE Composite

15 FEDERAL RESERVE statistical release H.(5) FOREIGN EXCHANGE RATES January 29, 1990 FOR THE WEEK ENDING JANUARY 26, 1990 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 (CURRENCY UNITS PER DOLLAR) UNIT Jan. 22 Jan. 23 Jan. 2 Jan. 25 Jan. 26 AUSTRALIA DOLLAR AUSTRIA SCHILLING BELGIUM FRANC CANADA DOLLAR CHINA,P.R. YUAN DENMARK KRONE FINLAND MARKKA FRANCE FRANC GERMANY D. MARK GREECE DRACHMA HONG KONG DOLLAR INDIA RUPEE IRELAND POUND ITALY LIRA JAPAN YEN MALAYSIA RINGGIT NETHERLANDS GUILDER NEW ZEALAND DOLLAR NORWAY KRONE PORTUGAL ESCUDO SINGAPORE DOLLAR SOUTH AFRICA RAND SOUTH KOREA WON N.A. SPAIN PESETA SRI LANKA RUPEE SWEDEN KRONA SWITZERLAND FRANC TAIWAN DOLLAR 26. N.A N.A. THAILAND BAHT N.A. UNITED KINGDOM POUND MEMO: ( UNITED STATES DOLLAR VALUE IS U.S. CENTS **INDEX OF WEIGHTED AVERAGE EXCHANGE VALUE OF U.S. DOLLAR AGAINST CURRENCIES OF OTHER G- COUNTRIES. MARCH 1973 = 0. HEIGHTS ARE GLOBAL TRADE OF EACH OF THE COUNTRIES. SERIES REVISED AS OF AUGUST 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.