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s-
(516/517)
Selected Interest &
Exchange Rates
Weekly Series of Charts
August 12, 1985
Prepared by the
FINANCIAL MARKETS
SECTION
DIVISION OF
INTERNATIONAL FINANCE
BOARD OF GOVERNORS
FEDERAL RESERVE SYSTEM
Washington, D C. 20551
#
Table of Contents
TABLES
SUBSCRIPTION RATES:
1. LATEST FIGURES PLOTTED
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, Division 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.
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
CHART 1
SPOT EXCHANGE INDICES
DOLLAR PRICES OF FOREIGN CURRENCIES AND WEIGHTED AVERAGE VALUES (THIN LINE)
AVERAGES FOR WEEK ENDING WEDNESDAY
RATIO SCALE
MARCH 1 9 7 3 = 1 0 0
RATIO SCALE
MARCH 1973=100
180
FOREIGN CURRENCY
PRICE OF U.S. DOLLAR
JAPANESE YEN
-
-
I
" i l l
I
-
160
-
140
-
120
-
100
II I I I I II IIIII III l u l l ?
I
CANADIAN DOLLAR
SWISS FRANC
V
200
I
A
-
\i
-
I
I
80
240
—
—
-
160
-
140
~
120
I I I II I II IIIIIl I I l I I
l I I
100
I
160
GERMAN MARK
140
DUTCH GUILDER
-
120
100
I
I
I II I I I I II I II
I
100
FRENCH FRANC
U.K. POUND
80
—
70
-^ X / < x aax_
60
-
-
w
J
50
40
-
I
I
I
120
BELGIAN FRANC
100
ITALIAN LIRA
—
50
-
80 -
I
,
70 X/
60 -
40
-
35
1983
yv
-
II1111II t II
50
-
1985
I
I
I
I I III I II I I I I
1983
1985
-
30
25
CHART 2
3-MONTH FORWARD EXCHANGE RATES
PREMIUM (+) OR (-)
AVERAGES FOR WEEK ENDING WEDNESDAY
PERCENT PER ANNUM
PERCENT PER ANNUM
6
24
ITALIAN LIRA
CANADIAN DOLLAR
+
0
6
6
12
U. K. POUND
DUTCH GUILDER
+
0
6
12
GERMAN MARK
SWISS FRANC
6
0
8
16
FRENCH FRANC
JAPANESE YEN
24
32
1983
1985
1983
1985
CHART 3
PRICE OF GOLD IN LONDON
AVERAGES FOR WEEK ENDING WEDNESDAY
U.S. [
PER FINE OUNCE
U.S. DOLLARS PER FINE
600
560
520
480
12.5 Kg BARS
AFTERNOON FIXING PRICE
440
400
360
320
280
240
1982
1983
1984
1985
CHART 4
CALL MONEY RATES
WEEKLY SERIES
PERCENT PER ANNUM
PERCENT PER ANNUM
24
24
20
-
16
—
12
-
FRANCE
8
-
4
-
U. S. FEDERAL FUNDS
JAPAN
20
SWITZERLAND
-
CANADA
IL
-
16
12
-
I
I
I
i
i
i
u
4
20
16
-
-
12
GERMANY
UVVXAA^
NETHERLANDS
I
1983
1985
I
I
I
I
1983
I
I I I I I lull I
1985
CHART 5
3-MONTH INTEREST RATES
WEEKLY S E R E S
PERI
NT PER ANNUM
PERCENT PER Ah
16
14
12
CANADIAN FINANCE CO
PAPER
U.S. CD S
10
8
WEIGHTED AVERAGE
FOREIGN RATE
6
16
14
U.K. INTERBANK STERLING
GERMAN INTERBANK RATE
•A
-
12
10
8
I I I I I I I I I I I
17
15
FRENCH INTERBANK RATE
1
A/A
NETHERLANDS INTERBANK RATE
-
13
11
-
-
9
8
JAPANESE GENSAKI RATE
A
SWISS INTERBANK RATE
-
7
6
-
5
1983
1985
1983
1985
CHART 6
EURO-DOLLAR DEPOSIT RATES
LONDON
AVERAGES FOR WEEK ENDING WEDNESDAY
PERCENT PER ANNUM
PERCENT PER ANNUM
24
24
-
-
20
—
3-MONTH
16
OVERNIGHT
-
12
I
I
I
I I I I I I I I 4I I I
24
-
—
20
16
6-MONTH
7-DAY
-
-
\
12
\y>/
I
I
1-YEAR
1-MONTH
1983
I
1985
1983
1985
#
#
*
#
#
#
#
#
#
#
#
CHART 7
SELECTED EURO-DOLLAR AND U. S. MONEY MARKET RATES
DIFFERENTIAL: PLUS(+), FAVORS BORROWING IN U. S.
AVERAGES FOR WEEK ENDING WEDNESDAY
PERCENT PER ANNUM
PERCENT PER ANNUM
20
20
I "
18
16
14
3-MONTH
FEDERAL FUNDS
EURO-DOLLAR DEPOSITS
DASHED LINE
12
10
v
8
VV v
90-DAY CD' S
OVERNIGHT
E U R O - D O L L A R DEPOSITS
6
4
3
DIFFERENTIAL
DIFFERENTIAL
2
1
+
0
1
2
1 PERCENT ON
1983
D I F F E R E N T I A L S C A L E = 2 PERCENT ON RATE S C A L E
1985
1983
1985
CHART 8
INTEREST ARBITRAGE: 3-MONTH FUNDS
DIFFERENTIAL: PLUS(+), INDICATES FAVOR DOLLAR ASSETS
AVERAGES FOR WEEK ENDING WEDNESDAY
PERCENT PER ANI
IT PER ANNUM
22
18
14
CANADIAN FINANCE
CO. PAPER, COVERED
EURO-DOLLAR DEPOSITS
DASHED LINE
10
INTERBANK STERLING
6
COVERED LONDON
U. S. COMMERCIAL PAPER
III II
11
Illlll II
2
4
DIFFERENTIAL
DIFFERENTIAL
2
-yv^Ai
+
0
2
22
18
14
A w \
l
4
10
COVERED FRANKFURT
.
\
—
m
V
|
\
—
EURO-DOLLAR DEPOSITS
IDASHED LINE
6
2
SWISS INTERBANK (SF) COVERED
INTERBANK DM
1
1
1
1
1
1
EURO-DOLLAR DEPOSITS
DASHED LINE
lulu
lllllllllll
2
DIFFERENTIAL
DIFFERENTIAL
1
"/>VyVv<A/<Vv^z
0
1 1 1
2
1983
1985
1 PERCENT ON D I F F E R E N T I A L S C A L E - 2 PERCENT ON RATE S C A L E
1 1 1
1983
1985
CHART 9
LONG-TERM GOVERNMENT BOND YIELDS
WEEKLY SERIES
ENT PER ANNUM
PERCENT PER AL
19
19
UNITED STATES
15
- wvy
CANADA
|
-
11
11
7
i
i
i
7
15
9
UNITED KINGDOM
-
-
SWITZERLAND
—
11
5
—
7
13
15
I
I
I
I
I
-
I
I
I
I
1
13
MONTHLY
-
JAPAN
GERMANY
-
9
9
x
-x-V
\
5
5
22
22
U. S. CORPORATE
MONTHLY
18
18
FRANCE
Aaa BONDS
14
14
NETHERLANDS
MONTHLY
10
10
I IIIIIII
6
1983
6
1985
1983
1985
CHART 10
INDUSTRIAL STOCK INDICES
WEEKLY SERIES
RATIO SCALE
1969=100
RATIO SCALE
1969=100
260
260
220
220
UNITED STATES
UNITED KINGDOM
180
180
140
140
100
100
260
260
220
220
180
180
NETHERLANDS
FRANCE
140
140
100
100
80
80
220
220
180
180
GERMANY
140
SWITZERLAND
140
100
100
80
80
320
320
CANADA
280
280
240
240
JAPAN
200
200
160
160
120
120
1983
1985
1983
1985
LAST VALUE PLOTTED
DATE
VALUE
SERIES NAME
CHART 1. SPOT EXCHANGE RATES AND INDICES
WEEKLY AVERAGES, NOON BUYING RATES
(U.S. CENTS)
AUG.
AUG.
AUG.
AUG.
AUG.
AUG.
AUG.
AUG.
AUG.
AUG.
GERMAN MARK
J A P A N E S E YEN
DUTCH GUILDER
U.K. POUND
CANADIAN DOLLAR
FRENCH FRANC
SWISS FRANC
BELGIAN FRANC
ITALIAN LIRA
SWEDISH KROSA
INDICES, MARCH 1973 BASE RATES =
35.28
0.42036
31.39
136.07
73.76
11. 57
42. 80
1.74832
0.05275
11.93
100
GERMAN MARK
JAPANESE YEN
DUTCH GUILDER
U.K. POUND
CANADIAN DOLLAR
FRENCH FRANC
SWISS FRANC
BELGIAN FRANC
ITALIAN LIRA
WEIGHTED AVERAGE EXCHANGE VALUE INDICES, MAR 1973 =
{G-10 COUNTRIES PLUS SWITZERLAND)
U. S. DOLLAR
GERMAN MARK
J A P A N E S E YEN
DUTCH GUILDER
U.K. POUND
CANADIAN DOLLAR
FRENCH FRANC
SWISS FRANC
BELGIAN FRANC
ITALIAN LIRA
SWEDISH KRONA
7
7
7
7
7
7
7
7
7
7
99. 26
110.06
90. 11
55.04
73.51
52. 13
137.70
68.89
29.97
AUG.
AUG.
AUG.
AUG.
AUG.
AUG.
AUG.
AUG.
AUG.
100
AUG.
AUG.
AUG.
AUG.
AUG.
AUG.
AUG.
AUG.
AUG.
AUG.
AUG.
7
7
7
7
7
7
7
7
7
7
7
139.04
135. 17
148.87
118.06
68.88
94.93
64. 60
181. 48
88.77
36. 13
67.58
7
7
7
7
7
7
7
7
-0. 99
-3.29
3.38
— 4. 57
3.53
2.21
1.88
-5.30
CHART 2. 3-MONTH FORWARD EXCHANGE RATES, PREMIUM OS DISCOUNT
CANADIAN DOLLAR
U.K. POUND
GERMAN MASK
FRENCH FRANC
SWISS FRANC
DUTCH GUILDER
J A P A N E S E YEN
ITALIAN LIRA
AUG.
AUG.
AUG.
AUG.
AUG.
AUG.
AUG.
AUG.
SERIES NAME
LAST V A L U E PLOTT,
DATE
VALUE
CHART 3. G O L D PBICE IS LONDON, AFTERNOON FIXING
U.S. DOLLARS PEE FINE OUNCE
AUG.
7
321.46
CHART 4. CALL MONEY BATES
U.S. FEDERAL FUNDS
O V E R N I G H T EUBO-DOLLAB DEPOSITS
U. K.
CANADA
GERMANY
JAPAN
FRANCE
NETHERLANDS
SWITZERLAND
AUG.
AUG.
AUG.
AUG.
AUG.
AUG.
AUG.
AUG.
AUG.
7.92
7.80
11.97
8.75
4.72
6. 15
9.75
6. 11
3.38
AUG.
7
7
AUG.
AUG. . 7
AUG.
7
AUG.
7
AUG.
7
AUG.
7
AUG. , 7
AUG.
7
7.85
4. 93
6.30
9. 19
11.41
4. 63
9.88
5.90
7.97
>. 3—MONTH INTEREST RATES
U.S. 9 0 — D A I C D ' S , SECONDARY MARKET
G E R M A N INTERBANK LOAN
J A P A N E S E GENSAKI RATE
C A N A D I A N F I N A N C E PAPER
I N T E R B A N K STERLING
SWISS INTERBANK LOAN
FRENCH INTERBANK RATE
N E T H E R L A N D S INTERBANK RATE
W E I G H T E D A V E R A G E FOREIGN INTEREST R A T E
(G-10 C O U N T R I E S PLUS S W I T Z E R L A N D )
>. EURO-DOLLAR DEPOSIT R A T E S : LONDON
OVERNIGHT
7-DAY
1-MONTH
3-MONTH
6-MONTH
1-YEAR
S E L E C T E D EURO-DOLLAR
AUG.
AUG.
AUG.
AUG.
AUG.
AUG.
7
7
7
7
7
7
7.80
7.86
7. 93
8.11
8.30
8.78
AND U.S. MONEY M A R K E T B A T E S
O V E R N I G H T EURO-DOLLAR DEPOSITS
U. S. FEDERAL FUNDS
DIFFERENTIAL
AUG.
AUG.
AUG.
7
7
7
7. 80
7.92
-0.12
3-MONTH EURO-DOLLAR DEPOSIT R A T E
U.S. 90-DAY CD'S, SECONDARY MARKET
DIFFERENTIAL
AUG.
AUG.
AUG.
7
7
7
8. 11
7.85
0. 26
SERIES NAME
LAST VALUE PLOTTED
DATE
VALUE
CHART 8. INTEREST ARBITRAGE, 3-MONTH FUNDS
EURO-DOLLAR DEPOSIT
INTERBANK STERLING (LONDON), COVERED
DIFFERENTIAL
AUG.
AUG.
AUG.
7
7
7
8. 11
8. 03
0. 08
U.S. COMMERCIAL PAPER
CANADIAN FINANCE PAPER, COVERED
DIFFERENTIAL
AUG.
AUG.
AUG.
7
7
7
7. 80
8. 18
-0. 38
EURO-DOLLAR DEPOSIT
INTERBANK DM (FRANKFURT), COVERED
DIFFERENTIAL
AUG.
AUG.
AUG.
7
7
7
8. 11
8. 35
- 0 . 24
EURO-DOLLAR DEPOSIT
SWISS INTERBANK, COVERED
DIFFERENTIAL
AUG.
AUG.
AUG.
7
7
7
8. 11
8. 20
- 0 . 09
AUG.
AUG.
JAN.
JULY 12
JULY 19
JUNE 21
JUNE
AUG.
2
10.61
CHART 9. LONG TERM GOVERMENT BOND YIELDS
UNITED STATES
GERMANY
JAPAN (MONTHLY)
SWITZERLAND
CANADA
FRANCE
NETHERLANDS (MONTHLY)
UNITED KINGDOM
6. 55
6.29
4. 83
10.61
11.87
7.39
9.96
U.S. CORPORATE
AAA BONDS
CHART 10.
APRIL
12.23
STOCK INDICES
UNITED STATES
UNITED KINGDOM
CANADA
GERMANY
SWITZERLAND
NETHERLANDS
FRANCE
JAPAN
JULY
JULY
JULY
JULY
JULY
JULY
JULY
JULY
31
31
31
31
31
31
31
31
196.36
207. 34
275.20
198.57
152.11
222.08
213.73
263.07
FEDERAL RESERVE statistical release
AUGUST
H.10 (512)
9,
1985
FOREIGN EXCHANGE RATES
FOR
THE MEEK E N D I N G
ADGOST
9,
1985
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
DNIT
•AUSTRALIA
AUSTRIA
BELGIUM
BRAZIL
CANADA
CHINA,P.R.
DENMARK
FINLAND
FRANCE
GERMANY
GREECE
HOIG KONG
INDIA
•IRELAND
ISRAEL
ITALY
JAPAN
MALAYSIA
MEXICO
NETHERLANDS
•NEW Z E A L A N D
NORWAY
PHILIPPINES
PORTUGAL
SINGAPORE
•SOUTH AFRICA
SOOTH KOREA
SPAIN
SB I L A N K A
SWEDEN
SWITZERLAND
TAIWAN
THAILAND
• U N I T E D KINGDOM
VENEZUELA
DOLLAR
SCHILLING
FRANC
CRUZEIRO
DOLLAR
YUAN
KRONE
MARKKA
FRANC
D. HARK
DRACHMA
DOLLAR
RUPEE
POUND
SHEKEL
LIRA
YEN
RINGGIT
PESO
GUILDER
DOLLAR
KRONE
PESO
ESCUDO
DOLLAR
RAND
WON
PESETA
RUPEE
KRONA
FRANC
DOLLAR
BAHT
POUND
BOLIVAR
MEMO:
••NITED S T A T E S
DOLLAR
AUG.
5
71.85
19.852
57.120
6510.00
1.3526
2.8993
10.1800
5.9900
8.6150
2.8260
131.800
7.7710
11.9500
110.20
NA
1891.00
237.50
2.4630
347.0000
3.1760
52.980
8.3025
NA
168.000
2. 1925
45.05
882.90
165.450
27.363
8.3700
2.3245
40.440
26.850
136.75
NA
138.64
[CURRENCY UNI'rs PER DOLLAR)
AUG.
6
AUG.
7
71.15
20.020
57.400
6530.00
1.3582
2.8993
10.2750
6.0410
8.6865
2.8500
132.650
7.7860
11.9800
109.45
NA
1901.00
238.45
2.4675
347.0000
3.2070
52.800
8.3575
NA
169.000
2.2025
43.85
882.70
166.550
27.363
1
8.4200
2.3625
40.420
26.850
134.60
NA
70.55
19.997
57.370
6560.00
1.3618
2.9081
10.2720
6.0305
8.7025
2.8470
132.800
7.7855
12.0800
109.80
NA
1897.00
238.40
2.4645
341.0000
3.2030
52.650
8.3700
NA
169.000
2.2030
44.90
885.00
166.650
27.423
8.4125
2.3620
NA
26.960
133.60
NA
139.77
139.85
AUG.
8
70.45
19.950
57.220
6560.00
1.3610
2.9081
10.2300
6.0100
8.6520
2.8290
132.550
7.7850
12.0000
110.20
NA
1896.00
238.50
2.46 50
338.0000
3.1760
53.100
8.3100
NA
168.800
2.2060
46.80
886.40
166.550
27.423
8.3300
2.3405
NA
26.960
135.55
NA
139.11
AUG.
9
70.80
19.952
57.260
6580.00
1.3610
2.9081
10.2400
6.0175
8.6550
2.8315
132.700
7.7830
12.0200
110.25
NA
1895.25
238.55
2.4640
333.0000
3. 1820
53.350
8.3400
NA
169.000
2.2070
46.00
886.20
166.850
27.424
8.4050
2.3410
40.460
26.930
135.75
NA
139.20
D E I OF W E I G H T E D A V E R A G E E X C H A N G E V A L U E OF U.S. DOLLAR A G A I N S T C U R R E N C I E S OF OTHER G-11
UNTRIES. MABCH 1973 = 100. HEIGHTS ABE 1972-76 GLOBAL T R A D E OF EACH
OF THE 10 COUNTRIES.
SERIES F E V I S E D AS OF AUGUST 1978. FOR DESCRIPTION AND EACK DATA, SEE "INDEX OF THE
WEIGHTED-AVER AGE E X C H A N G E V A L U E OF THE U.S. D O L L A R : R E V I S I O N " ON PAGE 700 OF T H E AUGUST
1978 F E D E R A L R E S E R V E B U L L E T I N .
' #
• VALUE IS U.S. C E N T S
@FedFRASER