walt_sak@proper.UUCP (Walt Sakai) (10/06/85)
SUBJECT: FOREIGN EXCHANGE INTERVENTION BY G5 on 23 September 1985.
DATE: 3 October 1985
Since the 23rd of September 1985 the forex market has been affected by the
coordinated intervention efforts by the major central banks. The spot rates
are given below, together with percentage relative to 23 September, for the
British Pound (BP), Canadian Dollar (CN), Japanese Yen (JY), Swiss Franc (SF),
and the German Mark (DM).
G5 = Group of Five major industrial nations: U.S., Japan, West Germany,
Britain, and France.
-- Canadian Dollar was virtually unaffected.
-- Intervention affected the other currencies almost equally (percentage-wise)
on 23 September.
-- Yen has since benefited the most (~ +6%).
Rumors attribute more concentrated efforts by the Central Bank of Japan.
-- BP has since slipped (~ 2%).
-- However, we note that Crude Oil on Sept. 23 = $27.48
on Oct. 03 = $28.77 +4.7% change.
-- SF and DM has been ~ 3% stronger since intervention.
All rates expressed in U.S. terms.
*1 = relative percentage with respect to 23 September.
Date BP B1 CN C1 JY J1 SF S1 DM D1
------- ------ ------ ------ ------ ------ ------ ------ ------ ------ ------
8509.05 13585 94 7297 99 4153 94 4216 93 3471 93
8509.06 13290 92 7304 99 4123 93 4153 92 3421 92
8509.09 13020 90 7299 99 4107 93 4122 91 3397 91
8509.10 13125 91 7291 99 4125 93 4125 91 3403 92
8509.11 13070 90 7284 99 4107 93 4103 91 3380 91
8509.12 13225 91 7284 99 4112 93 4125 91 3401 91
8509.13 13330 92 7285 99 4135 93 4181 92 3449 93
8509.16 13430 93 7286 99 4149 93 4211 93 3471 93
8509.17 13390 92 7273 99 4143 93 4202 93 3458 93
8509.18 13330 92 7254 99 4126 93 4188 93 3440 93
8509.19 13430 93 7248 99 4136 93 4200 93 3449 93
8509.20 13670 94 7272 99 4167 94 4274 94 3518 95
*8509.23 14500 100 7345 100 4440 100 4525 100 3717 100
8509.24 14310 99 7353 100 4352 98 4488 99 3683 99
8509.25 14440 100 7359 100 4411 99 4552 101 3736 101
8509.26 14280 98 7364 100 4520 102 4596 102 3733 100
8509.27 14080 97 7334 100 4600 104 4616 102 3748 101
8509.30 14075 97 7300 99 4626 104 4552 101 3726 100
8510.01 14140 98 7317 100 4688 106 4659 103 3791 102
8510.02 14230 98 7329 100 4682 105 4647 103 3781 102
8510.03 14225 98 7315 100 4700 106 4660 103 3810 103
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Walt Sakai
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