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(5 1 6 / 5 1 7 ) Selected Interest Exchange Rates W e e kly Series o f Charts August 15, 1983 DIVISION O F INTERNATIONAL FINANCE Prepared by the F IN A N C IA L MARKETS SECTION 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, Divi sion 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. D A IL Y C E R TIFIE D 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 M A RK ET RATES 8. INTEREST ARB ITRA G E: 3-MONTH FUNDS 9. LONG-TERM G O VER NM EN T BOND YIE LD S 10. IN D U S T R IA L 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 1973=100 RATIO SCALE MARCH 1973=100 160 160 FOREIGN CURRENCY PRICE OF U.S. DOLLAR 140 140 120 120 100 100 80 80 240 200 SWISS FRANC - 160 120 iiinliiLu 180 160 140 120 100 120 120 CANADIAN DOLLAR 100 100 80 80 60 60 I I _L_ I I l 11111111111 lllllllllll 80 160 140 70 — BELGIAN FRANC 60 120 - 80 I I I l ..i . - I — 1981 I!I i I II I l II l il Ll iI I i I 1983 50 _ 100 40 ll 1981 1983 CHART 2 3-MONTH FORWARD EXCHANGE RATES PREMIUM (+) OR ( - ) AVERAGES FOR WEEK ENDING WEDNESDAY 1981 1983 1981 1983 CHART 3 PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY U .S . P E R F IN E O U N C E u .S . D O L L A R S P E R F IN E OUNCE 80C 800 7SC 750 700 700 650 650 600 6 00 550 550 500 500 4 50 450 400 40 0 350 350 300 300 250 250 1980 1981 1982 1983 CHART 4 CALL MONEY RATES WEEKLY SERIES PER 28 24 24 20 20 16 16 12 1 2 8 8 4 4 0 24 24 20 20 16 16 1 2 1 2 8 8 4 4 + 0 + 0 24 20 20 16 16 1 2 8 1 2 8 4 4 0 1981 1983 1981 1983 CHART 5 3-MONTH INTEREST RATES WEEKLY SERIES PER 22 24 18 20 14 16 10 12 6 20 8 16 16 1 2 12 8 8 4 16 12 1 2 8 8 4 0 4 1981 1983 1981 1983 CHART 6 EURO-DOLLAR DEPOSIT RATES Lo ndon A VER A G E S FOR W EEK ENDING W EDNESDAY 24 24 20 20 16 16 1 2 12 8 8 4 4 24 24 20 20 16 16 1 2 12 8 8 4 4 24 24 20 20 16 16 1 2 12 8 8 4 4 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 26 22 18 14 10 6 3 2 1 +o i 1 2 3 4 1981 1 PERCENT ON D IF F E R E N T IA L SCALE 1983 = 2 PERCENT ON RATE SCALE 1981 1983 CHART 8 INTEREST ARBITRAGE: 3-MONTH FUNDS DIFFERENTIAL: PLUS(+), INDICATES FAVOR DOLLAR ASSETS AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER ANNUM PERCENT PER ANNUM 28 20 12 4 2 + 0 2 4 28 28 INTERBANK DM COVERED FRANKFURT 20 12 4 2 + 0 2 1 PERC ENT ON D IF F E R E N T IA L S C A LE = 2 PERC ENT ON RATE SC ALE CHART 9 LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES 19 19 15 15 1 1 1 1 7 7 15 9 1 1 5 7 1 13 13 MONTHLY JAPAN 9 9 5 22 I I I I I U. S. CORPORATE I n h i l n l i i i i l i i l n l n 5 22 m onthly 18 18 Aaa BONDS 14 14 1 0 10 6 6 1981 1983 CHART 10 INDUSTRIAL STOCK INDICES WEEKLY SERIES RATIO SCALE 1969=100 RATIO SCALE 1969=100 180 160 140 120 100 1981 1983 1981 1983 LAST VALUE PLOTTED DATE VALUE SERIES NAME CHART 1, SPOT EXCHANGE RATES AND INDICES WEEKLY AVERAGES, NOON BUYING RATES (U.S. CENTS) GERMAN MARK JAPANESE YEN DUTCH GUILDER O.K. POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC BELGIAN FRANC ITALIAN LIRA AUG. AUG. AUG. AUG. AUG. AUG. AUG. AUG. AUG. 10 10 10 10 10 10 10 10 10 37. 14 0.40933 33.22 148.77 80.93 12.34 45.95 1.85580 0.06268 AUG. AUG. AUG. AUG. AUG. AUG. AUG. AUG. AUG. 10 10 10 10 10 10 10 10 10 104.49 107.18 95.36 60. 17 80.66 55.62 147.82 73.13 35.60 AUG. 10 AUG. 10 AUG. 10 AUG. 10 AUG. 10 AUG. 10 AUG. 10 AUG. 10 AUG. 10 AUG. 10 AUG. 10 130.45 135.36 136.60 118.88 71.91 99.38 65.64 185.39 89.65 41.21 68.36 INDICES, MARCH 1973 BASE RATES ^ 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 = 100 (G-10 COUNTRIES PLUS SWITZERLAND) U.S. DOLLAR GERMAN MARK JAPANESE YEN DUTCH GUILDER U.K. POUND C ANADIAN DOLLAR FRENCH FRANC SWISS FRANC BELGIAN FRANC ITALIAN LIRA SWEDISH KRONA CHART 2. 3-MONTH FORWARD EXCHANGE RATES, PREMIUM OR DISCOUNT CANADIAN DOLLAR U.K. POUND GERMAN MARK FRENCH FRANC SWISS FRANC DUTCH GUILDER JAPANESE YEN ITALIAN LIRA AUG. 10 AUG. 10 AUG. ao AUG. 10 AUG. 10 AUG. 10 AUG. 10 AUG. 10 0 .9 2 0 .8 3 5 .0 2 -5 .2 7 5 .8 4 4 .5 5 3 .9 5 - 7 . 17 SERIES NAME LAST VALUE PLOTTED DATE VALOE CHART 3, GOLD PRICE IN LONDON, AFTERNOON FIXING U.S. DOLLARS PER FINE OUNCE CHART AUG. AUG. AUG. JULY AUG. AUG. AUG. AUG. JAN. AUG. 10 10 5 15 5 12 5 5 1 12 9.66 9.60 8.50 9.23 5.05 4.95 6.50 12.50 10.30 3.45 AUG. AUG. AUG. AUG. AUG. AUG. AUG. 10 10 10 10 10 10 10 9.93 5.69 6.69 9. 52 9.86 4.88 8.43 AUG. AUG. AUG. AUG. AUG. AUG. 10 10 10 10 10 10 9.60 9.76 9.95 10.50 10.95 11.16 > EURO-DOLLAR DEPOSIT RATES: LONDON . OVERNIGHT 7 - DAY 1— MONTH 3-MCNTH 6-MCNTH 1-YEAR CHART 410.70 . 3-MONTH INTEREST RATES U.S. 90-DAY CD'S, SECONDARY MARKET GERMAN INTERBANK LOAN JAPANESE BANK LOANS & DISCOUNTS CANADIAN FINANCE PAPER INTERBANK S T E RLING SWISS I N TERBANK LOAN WEIGHTED AVERAGE FOREIGN INTEREST RATE (G-10 COUNTRIES PIUS SWITZERLAND) CHART 10 . CALL MONEY RATES U.S. FEDERAL FUNDS OVERNIGHT EURO-DOLLAR DEPOSITS U.K. CANADA GERMANY EURC-DM JAPAN FRANCE NETHERLANDS EURO-SWISS FRANC CHART AUG- . SELECTED EURO-DOLLAR AND U.S. MONEY MARKET RATES OVERNIGHT EURO-DOLLAR DEPOSITS U.S. FEDERAL FUNDS DIFFERENTIAL ADJ. FOR RESERVE REQUIREMENTS AUG. AUG. AUG. 10 10 10 9.60 9.66 -0.06 3-MONTH EURO-DOLLAR DEPOSIT RATE U.S. 90-DAY CD'S, SECONDARY MARKET DIFFERENTIAL AUG. AUG. AUG. 10 10 10 10.50 9.93 0.57 SERIES CHART NAME LAST VALUE P L O T T E D DA TE VA L U E - INTEREST ARBITRAGE, 3-MONTH FUNDS EURO-DOLLAR DEPOSIT INTERBANK STERLING (LONDON) , COVERED DIFFERENTIAL AUG. AUG. AUG. 10 10 10 10.50 10.71 -0.21 U.S. COMMERCIAL PAPER CANADIAN FINANCE PAPER, COVERED DIFFERENTIAL AUG. AUG. AUG. 10 10 10 9.60 10.46 -0.77 EURC-DOLLAR DEPOSIT INTERBANK DM (FRANKFURT), COV E R E D DIFFERENTIAL AUG. AUG. AUG. 10 10 10 10.50 10.78 -0.28 EURC-DOLLAR DEPOSIT SHISS INTERBANK, COVERED DIFFERENTIAL AUG. AUG. AUG. 10 10 10 10.50 10. 79 -0.29 AUG. JULY JUNE JULY JULY APRIL FEB. MAY 5 22 11.95 8.08 7.49 4.53 11.96 14.60 8.20 9.74 CH A R T 9. LONG TERM GOVERMENT BOND YIELDS UNITED STATES GERMANY JAPAN (MONTHLY) SWITZERLAND CANADA FRANCE NETHERLANDS (MONTHLY) UNITED KINGDOM 22 15 8 27 U. S. CORPORATE AAA BONDS EURO-DOLLAR BONDS CHART 10, JULY APRIL 12. 15 9.90 STOCK INDICES UNITED STATES UNITED KINGDOM CANADA GERMANY SHI1ZERLAMD NETHERLANDS FRANCE JAPAN JULY JULY JULY JULY JULY MAY JUNE JULY 27 27 6 6 27 25 29 13 174.67 158.07 245.67 140.06 114.81 123.83 124.67 173.55
@FedFRASER