(51/51) Selected Interest & Exchange Rates Weekly Series of Charts December 19,199 HNANCE Prepared by the BOARD OF GOVERNORS FINANCIAL MARKETS FEDERAL RESERVE SYSTEM SECTION Washington, DC. 0551
Table of Contents TABLES 1. LATEST FIGURES PLOTTED. DAILY CERTIFIED SPOT EXCHANGE RATES H. RELEASE CHARTS 1. SPOT EXCHANGE RATE INDICES. 3-MONTH FORWARD EXCHANGE RATES 3. GOLD PRICE LONDON. CALL MONEY RATES 5. 3-MONTH INTEREST RATES. EURO-DOLLAR DEPOSIT RATES. SELECTED EURO-DOLLAR AND U.S. MONEY MARKET RATES. INTEREST ARBITRAGE: 3-MONTH FUNDS 9. LONG-TERM GOVERNMENT BOND YIELDS. INDUSTRIAL STOCK INDICES SUBSCRIPTION RATES: Weekly $30.00 per year or $.0 each in the United States, its possessions, Canada, and Mexico. Elsewhere. $35.00 per year or $.0 each. Address requests to Publications Services Division of Support 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.
10 1 0 90 SCALE H193=0 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 S MARCH 19 0 0 0 90 0 50 30 190 10 150 5 5 5 55 5 00 10 0 5 95 5 ' I ' ' I ' l i i SWISS FRANC i i i I i i i I i i» I i i i U.K. POUND i i i I i i i I i i i I i i i DUTCH GUILDER i i I i»' I i i I i i i BELGIAN FRANC i i I i i i I» i i I i i i JAPANESE YEN ' I i ' ' i ' I i I i CANADIAN DOLLAR ' 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 5 5 FRENCH FRANC ITALIAN LIRA 55 ' i ' I i ' ' l ' ' I i i ' I I I I I I I I I I I I 1 I I 199 199 199 199
PERCENT PER ANNUM CHART 3-MONTH FORWARD EXCHANGE RATES PREMIUM (+) OR H AVERAGES FOR WEEK ENDING WEDNESDAY U.K. POUND PERCENT PER ANNUM CANADIAN DOLLAR JAPANESE YEN SWISS FRANC DUTCH GUILDER FRENCH FRANC ITALIAN LIRA ' i '» i I ' i ' I ' ' i 199 199 199 199
# CHART 3 PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY U.S. DOLLARS PER FINE OUNCE 0 U.S. DOLLARS PER FINE OUNCE 0 00 1.5 Kg BARS AFTERNOON FIXING PRICE 00 30 30 30 30 30 30 1991 199 1993 199
CHART CALL MONEY RATES WEEKLY SERIES PERCENT PER ANNUM PERCENT PER ANNUM SWITZERLAND U.S. FEDERAL FUNDS JAPAN 0 GERMANY NETHERLANDS 1 1 FRANCE 1 CANADA UNITED KINGDOM
CHARTS 3-MONTH INTEREST RATES WEEKLY SERIES 1 :ENT PER ANNUM PERCENT PER AN WEIGHTED AVERAGE FOREIGN RATE CANADIAN FINANCE PAPER 1 i i i I i i i I i i i I i i i 1 l l I l l l I l l l I l l l 13 U.K. INTERBANK STERLING NETHERLANDS INTERBANK RATE 9 I I I I I I I I I I I I I I JAPANESE CD RATE 5 3 FRENCH INTERBANK RATE 1 i i i I i i i I i i i I i SWISS INTERBANK GERMAN INTERBANK RATE 1 ' 1 1 I ' ' I ' i ' I i» i 199 199 i i i I ' ' I i i ' I ' '» 199 199
CHART EURO-DOLLAR DEPOSIT RATES LONDON AVERAGES FOR WEEK ENDING WEDNESDAY CENT PER ANNUM OVERNIGHT 3-MONTH i i i I i i i I i i i I i i i -DAY -MONTH i i l i i i I i i i l i i i 1-MONTH 1-YEAR '» 1 I ' ' 1» I i i i 199 199 199
w w # 9 w s * "" «Digitized for FRASER CHART PERCENT PER ANNUM 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 DIFFERENTIAL + 0 1 199 199
CHART INTEREST ARBITRAGE: 3-MONTH FUNDS DIFFERENTIAL: PLUS(+), INDICATES FAVOR DOLLAR ASSETS AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER ANNUM PERCENT PER ANNUM INTERBANK STERLING COVERED LONDON CANADIAN FINANCE CO. PAPER, COVERED EURO-DOLLAR DEPOSITS DASHED LINE i/\ U.S. COMMERCIAL PAPER DASHED LINE I l I I I I I I I I I I I I I DIFFERENTIAL DIFFERENTIAL I yvv INTERBANK DM COVERED FRANKFURT _U\ r. 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 I i i DIFFERENTIAL DIFFERENTIAL <**( 1 1 ' I 1 1 1 199 I 1 1 «I I I I ' I I ' I I I ' I I I I I I I 1 199 199 199
CHART 9 LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES 9 =tcent PER ANNUM UNITED STATES UNITED KINGDOM PERCENT PER ANN I 11 9 5 11 CANADA FRANCE 5 9 SWITZERLAND JAPAN 5 5 3 3 i ' i l» i I ' ' l ' i ' NETHERLANDS i i i l» ' ' I i i i I i i i GERMANY 9 9 5 I 1 1 1 1 1 1 1 I 1 1 1 I ' ' ' I ' I ' I ' «199 199 199 199 5
RATIO SCALE 19=0 0 UNITED STATES CHART STOCK INDICES WEEKLY SERIES UNITED KINGDOM RATIO SCALE 19=0 SWITZERLAND ARAN GERMANY CANADA 15 150 135 10 5 i i l i i i I i i i I i i i FRANCE I I I I I ' I I I I I I I I I NETHERLANDS 90 15 130 115,00 5 ' ' I ' ' ' I ' ' ' I ' ' ' I I I I I I I I I I I I I 199 199 199 199 5
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 193 base rates = 0 Belgian franc Canadian dollar French franc German mark Italian lira Japanese yen Netherlands guilder Swiss franc U.K. pound 1-NOV-9 3-Nov-9 30-NOV-9 -Dec-9 1-Dec-9 3.1 3.5 1.5.5 0.0319 1.015 5..139 15.5 3.1.999 1.3.31 0.05 1.013 5.19.0 15.0 Weighted average exchange value indices, Mar. 193=0 Belgian franc Canadian dollar French franc German mark Italian lira Japanese yen Netherlands guilder Swedish krona Swiss franc U.K. pound U.S. dollar Chart. 3-Month Forward Exchange Rat Canadian dollar French franc German mark Italian lira Japanese yen Netherlands guilder Swiss franc U.K. pound Chart 3. Gold Price in London, Afternoon Fixing U.S. dollars per fine ounce Chart. Call Money Rates U.S. federal funds Overnight Euro-dollar deposits Canada France Germany Japan Netherlands Switzerland United Kingdom 3.. 1.19 3.905 0.01 1.0115 5.0 5.5 15.3 3.01.1 1.509 3.51 0.010 0.99 5.33 5. 15.19 3.0.11 1. 3.5 0.011 0.993 5.15.9 15.1 1.0 13.3 1.3 11..9 11.. 3...39,.50 1..9.9.. 3.90 3..1 3.1 1.3 11,.0 19. 1,. 1,.0 3. 35.91 35.51 35,.1 35,.11..3 5.01 1,.53 1,.1 15. 90 1. 13. 1,. 1.. 1.5..01 1.1.13 3.53 3. 3.1 3.1 11. 11.5 11.3 11.19 11.3.01 3.9 3.9.35 3. 93.1.3...05 11. 5 11. 1... 9.3 9.5 9.0 9. 9.3. 5.. 9. 09. 15.0 153. 153.0 153. 153.9 53.53 53.53 5.0 5. 5. 9... 3. 9. 5 5.0 5.5 5.55 5.9 5.0. 0. 0 9.0 9. 9.9 Premium or Discount 0..0 0..1 0..1 0..0-0.. 0..5 0..39 0.. 0..1 0..5 0..0 0..0 0..1 0..9 0,. -. -.1 -.5 -.9 -.9 3.3, 3..1 3. 3..9.01 0,.3 0.. 0.. 0..95 0.. 1,.93.0,.1,.1,.0, -0.3-0,.01-0,.05 0.00-0.0 35.51 3. 33.5 3. 3. 5. 5.53 5.5 5. 5..99 5. 5.50 5.3 5.1. 5.11 5. 5.3 5. 5.5 5.5 5. 5.5 5.5.. 5.1 5.01.99.3.0.0..3..93.9 5.0 5.13 3. 3.5 3.0 3.3 3.5.5.33.35.95.3
% DV-9 3 -Nov-9 30 -Nov-9 -Dec-9 1 -Dec-9 Chart 5. 3-Month Interest Rates U.S. 90-day CD's, secondary market Canadian finance paper French interbank rate German interbank rate Japanese CD rate Netherlands interbank rate Swiss interbank rate U.K. interbank sterling Weighted average foreign interest rate (G- Countries) Chart. Euro-Dollar Deposit Rates Overnight -day 1-month 3-month -month 1-year 5. 5 5. 5. 95.. 31 5. 9 5. 5.. 1. 5. 51 5. 5. 5. 5 5. 5. 11 5. 5. 11 5. 19 5. 3.33.33. 3.3.3 5.1 5. 13 5. 15 5. 5. 1 3.5 3.1 3.1 3.9.0. 01 5. 91 5. 95.1. 31 5. 0 5. 0 5. 0 5. 1 5. 35.99 5. 5. 50 5. 3 5. 1 5.19 5. 5., 5. 5 5. 5. 31 5.,50 5..,03. 03 5., 5., 5..91.,5. 9..0.,19,.9..5. 9......93.35.50 Chart. Selected Euro-dollar & U.S. Mone} Market Rates Overnight Euro-dollar deposits.99, 5,. 5.50, 5.3 5.1, 5. 5.53 5.5 5. 5. U.S. federal funds -0.3-0.09-0.35-0.0-0.0 Differential 3-month Euro-dollar deposit 5. 5. 5.91.5.9 U.S. 90-day CD's, secondary market 5.5 5. 5.95..31 0.0 0.00-0.03-0.01-0.0 Differential Chart. Interest Arbitrage, 3-Month Funds Euro-dollar deposit Interbank sterling (London), covered Differential U.S. commercial paper Canadian finance paper, covered Differential Euro-dollar deposit Interbank DM (Frankfurt), covered Differential Euro-dollar deposit Swiss interbank, covered Differential Chart 9. Long Term Government Bellwether Bond Yields -year maturity, where available Canada France Germany Japan Switzerland Netherlands United Kingdom United States Chart. Canada France Germany Japan Netherlands Switzerland United Kingdom Stock Indices (Wednesday figures) 5. 5. 5.91.5.9 5. 5.90 5.90.1. -0.0-0.03 0.01 0.0 0.05 5. 5. 5.9..9 5.99.01.0.35.3-0.1-0.1-0. -0.13-0.0 5. 5. 5.91.5.9 5.3 5.91 5.93.1.1-0.0-0.03-0.0 0.0 0. 5. 5. 5.91.5.9 5.0 5.91 5.95..1-0.03-0.03-0.0 0.15 0.13 9..15 9.1 9.11 9.0 9,13...1.15.95..9...33,.3,.5,...59.5,.5 5,.39 5.0 5,.9 5.5 5.33,.5.5.3,.5.0.5.55.5.5.5.95.9.9..1 139.0 13.9 13..1 135,.9 135.9 15..13 1.05 153.3 15. 19,.0 11,.1 115..0 115,.1 115 5 11.1 115,.35 113,. 11,.9 115.3 113. 19,.9 15.53 1. 1,.9 1. 1. 11.35 1.00 13.0 13,. 1..9 13.51 19.9 1,. 1.5.9 1.1 11. 1.5 Indices^in-order, rebased to 19=0) are Toronto Composite, CAC General spliced to SBF50 at dec93, FAZ Aktien, Tokyo SB (Topix), CBS All-General, Swiss Bank Index, Financial Times Ordinary, NYSE Composite Digitized for FRASER
FEDERAL RESERVE statistical release -vos^v/- H.(51) December 1, 199 FOREIGN EXCHANGE RATES FOR THE WEEK ENDING DECEMBER 1, 199 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 Dec. 1 Dec. 13 Dec. 1 Dec. 15 Dec. 1 ^AUSTRALIA DOLLAR 0.0 0.50 0.55 0. 0.50 AUSTRIA SCHILLING 11.0 11.01 11.00 11.05 11.00 BELGIUM FRANC 3.30 3.330 3.30 3.30 3.350 CANADA DOLLAR 1.30 1.3 1.35 1.35 1.35 CHINA,P.R. YUAN.5.5130.51.50.5035 DENMARK KRONE.150.135.135.155.150 *EURO COMMUNITY ECU 1.1 1.131 1.1 1.139 1.1 FINLAND MARKKA.90.95.9090.0. FRANCE FRANC 5.10 5. 5.10 5.150 5.00 GERMANY D. MARK 1.535 1.5 1.5 1.505 1.55 GREECE DRACHMA 3.1.9.9.93 3.0 HONG KONG DOLLAR.39.00.05.3.35 INDIA RUPEE 31.33 31.33 31.30 31.33 31.35 ^IRELAND POUND 1.530 1.530 1.530 1.530 1.530 ITALY LIRA 13.5 13.50 13.00 13.5 13.50 JAPAN YEN 0.0 0.3 0.30 0. 0. MALAYSIA RINGGIT.535.53.50.5.55 MEXICO PESO 3.500 3.50 3.50 3. 3.30 NETHERLANDS GUILDER 1. 1.595 1.59 1.59 1.0 *NEW ZEALAND DOLLAR 0.35 0.30 0.35 0. 0.390 NORWAY KRONE.5.35..535.15 PORTUGAL ESCUDO.99 11.0 11.3 11. 11. SINGAPORE DOLLAR 1. 1.55 1.5 1. 1.50 SOUTH AFRICA RAND 3.50 3.50 3.50 3.550 3.55 SOUTH KOREA WON 9.0 95.0 95.0 9.00 9.30 SPAIN PESETA 131.90 13. 13.190 13.00 13.0 SRI LANKA RUPEE 9.0 9.500 9.530 9.90 9.500 SWEDEN KRONA.515.550.50.5395.55 SWITZERLAND FRANC 1.3335 1.3305 1.3301 1.3 1.331 TAIWAN DOLLAR.0.00.0.30. THAILAND BAHT 5.0 5.0 5.130 5.10 5.115 *UNITED KINGDOM POUND 1.53 1.505 1.51 1.530 1.530 MEMO: "(UNITED STATES DOLLAR 9. 9. 9. 9.0 9.9 "VALUE IS U.S. DOLLARS **INDEX OF WEIGHTED AVERAGE EXCHANGE VALUE OF U.S. DOLLAR AGAINST CURRENCIES OF OTHER G- COUNTRIES. MARCH 193 = 0. WEIGHTS ARE 19- GLOBAL TRADE OF EACH OF THE COUNTRIES. SERIES REVISED AS OF AUGUST 19. FOR DESCRIPTION AND BACK DATA, SEE "INDEX OF THE WEIGHTED-AVERAGE EXCHANGE VALUE OF THE U.S. DOLLAR: REVISION" ON PAGE 00 OF THE AUGUST 19 FEDERAL RESERVE BULLETIN. THIS RELEASE IS AVAILABLE ONLINE THROUGH THE FACILITIES OF THE DEPARTMENT OF COMMERCE'S ECONOMIC BULLETIN BOARD. FOR INFORMATION, CALL (0) -19. FOR INFORMATION ABOUT YOUR SUBSCRIPTION TO THIS RELEASE OR ABOUT RECEIVING IT IN DOCUMENT FORM, PLEASE CALL PUBLICATIONS SERVICES AT THE FEDERAL RESERVE BOARD AT (0) 5-3.