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(5 1 6 / 5 1 7 ) Selected Interest Exchange Rates W e e k ly Series o f Charts August 18,1980 Prepared by the F IN A N C IA L M A R K E T S S E C T IO N DIVISION O F IN T E R N A T IO N A L F IN A N C E BOARD O F G O V ER N O R S F E D E R A L R E S E R V E SYSTEM Washington, D .C . 20551 Table o f Contents TABLES SUBSCRIPTION RATES: 1. LATEST FIG URES PLOTTED Weekly $15.00 per year or $.40 each in the United 2. D A IL Y C E R T IF IE D SPOT EXCHANGE RATES-H.10 RELEASE 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 CHARTS 1. SPOT EXCHANGE RATE INDICES 2. 3-MONTH FORW ARD EXCHANGE RATES 3. GOLD PRICE--LONDON 4. C A LL MONEY RATES 5. 3-M ONTH IN TER EST RATES 6. EURO-DOLLAR DEPOSIT RATES 7. SELECTED EURO-DO LLAR A N D U.S. M O NEY M A R K E T RATES 8. IN TER EST A R B ITR A G E : 3-M O N TH FUNDS 9. LONG-TERM G O V E R N M E N T BOND Y IE LD S 10. IN D U S T R IA L STOCK IN D IC ES collectible at par in U.S. Currency. 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=100 120 120 100 100 80 60 80 FOREIGN CURRENCY PRICE OF U.S. DOLLAR I I I l I l nliiliilii 111111111'11 60 180 120 160 140 100 GERMAN MARK 120 100 ~ l 80 l I I l l nliiliilii nliiliilii 240 200 160 120 160 140 120 100 100 80 60 1978 1980 1978 1980 CHART 2 3-MONTH FORWARD EXCHANGE RATES PREMIUM (+) OR (-) AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER ANNUM PERCENT PER ANNUM + 0 24 12 + 0 6 1978 1980 1978 1980 CHART 3 PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY u.s. c L L A R 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 O U N C E 800 800 750 750 700 700 650 650 600 600 550 550 12.5 Kg BARS A F T E R N O O N F IX IN G P R IC E 500 500 450 450 400 400 350 350 300 300 250 250 200 200 150 150 100 iiIiiIiiIii 1977 1978 1979 IIIIIIIIIII 1980 100 CHART 4 CALL MONEY RATES WEEKLY SERIES 20 20 16 16 12 12 8 8 4 4 16 20 12 16 8 12 4 8 0 12 4 8 0 12 4 8 + 0 4 0 4 1978 1980 1978 1980 CHART 5 3-MONTH INTEREST RATES WEEKLY SERIES PERCENT PER ANNUM 1978 1980 1978 1980 CHART 6 EURO-DOLLAR DEPOSIT RATES Lo n d o n AVERAGES FOR WEEK ENDING WEDNESDAY 20 20 16 16 12 12 8 8 4 4 20 20 16 16 12 12 8 8 4 4 20 20 16 16 12 12 8 8 4 4 1978 1980 1978 1980 CHART 7 SELECTED EURO-DOLLAR AND U. S. MONEY MARKET RATES DIFFERENTIAL: PLUS(+), FAVORS BORROWING IN U. S. AVERAGES FOR WEEK ENDING WEDNESDAY P ER C E N T PER ANNUM P E R C E N T P ER A N N U M 2 Io+ 1 1 2 3 4 1980 1978 1 PERCENT ON D IF F E R E N T IA L SCALE = 2 P E R C E N T ON R A T E SCALE CHART 8 INTEREST ARBITRAGE: 3-M ONTH FUNDS D I F F E R E N T IA L : P L U S ( + ) , IN D IC A T E S F A V O R D O L L A R A S S E T S A V E R A G E S F O R W E E K E N D IN G W E D N E S D A Y P ER C E N T PER ANN UM P E R C E N T PER ANNUM 20 16 12 8 4 0 2 + 0 2 4 1 PERC ENT ON D IF F E R E N T IA L S C A L E = 2 PERC ENT ON RATE SC A LE CHART 9 LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES 14 15 12 13 10 11 8 9 6 10 7 7 8 5 6 3 4 1 16 17 14 12 FRANCE f\ — I - r-' fs — U 6 11 - i 8 13 — / L 10 15 L U a J '* JI M _ NETHERLANDS I h iln liilii 9 7 ..llL u .iiliL L 14 13 12 11 10 9 8 7 6 5 1978 1980 1978 1980 CHART 10 INDUSTRIAL STOCK INDICES WEEKLY SERIES R A T IO 1969= 140 120 100 80 R A T IO SCALE 1969=100 400 100 360 90 JAPAN 320 80 280 70 240 60 200 50 140 140 120 120 100 100 80 80 160 160 140 140 120 120 100 100 80 80 1978 1980 LAST VALUE PLOTTED DATE VALUE SERIES NAME CHAPT 1. SPOT EXCHANGE PATES AND INDICES WEEKLY AVERAGES, NOON BUYING RATES (U. S. CENTS) GERMAN MARK JAPANESE YEN DUTCH GUILDER U.K. POUND CANAD IAN DOLLAR FRENCH FRANC SWISS FRANC BELGIAN FRANC ITALIAN LIRA INDICES, AUG. AUG. AUG. AUG. AUG. AUG. AUG. AUG. AUG. 13 13 13 13 13 13 13 13 13 56.11 0.44459 51.52 237.24 86.27 24.24 60.75 3.51469 0.11885 MARCH 1973 BASE RATES = 100 GERMAN MARK JAPANESE YEN DUTCH GUILDER U.K. POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC BELGIAN FRANC ITALIAN LIRA WEIG H T E D AVERAGE EXCHANGE VALUE INDICES, (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 AUG. 13 AUG. 13 AUG. 13 AUG. 13 AUG. 13 AUG. 13 AUG. 13 AUG. 13 AdG. 13 157.85 116.41 147.89 95.96 85.99 109.23 195.44 138.50 67.52 MAR 1973 = 100 13 13 13 13 13 13 13 13 13 13 13 85.85 149.53 103.63 133.65 83.68 74.67 96.52 176.09 124.14 57.57 94.08 AUG. 13 AUG. 13 AUG. 13 AUG. 13 AUG. 13 AUG. 13 AUG. 13 AUG. 13 -0.20 -6.06 1.26 -0.97 5.10 0.61 -1.21 -16.45 AUG. AUG. AUG. AUG. AUG. AUG. AUG. AUG. AUG. AUG. AUG. 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 LAST VALUE PLOTTED DATE VALUE SERIES NAME CHART 3. GOLD PRICE IN LONDON, AFTERNOON FIXING U.S. DOLLARS PER FINE OUNCE AUG. 13 619.35 AUG. AUG. AUG. AUG. AUG. AUG. AUG. AUG. JULY AUG. 13 13 15 15 15 1 15 15 4 1 8..85 9..14 16,.00 10..19 9..00 9..01 12..44 11..25 10.,50 5..67 AUG. AUG. AUG. AUG. AUG. AUG. AUG. 13 13 13 13 13 13 13 9.33 9.06 12.61 10.43 16.44 5.35 11.48 AUG. AUG. AUG. AUG. AUG. AUG. 13 13 13 13 13 13 9.14 9.29 9.70 10.33 10.74 10.85 O VERNIGHT EURO-DOLLAR DEPOSITS U.S. FEDERAL FUNDS DIFFERENTIAL ADJ. FOR RESERVE REQUIREMENTS AITG. 13 AUG. 13 AUG. 13 9.14 8.85 -0.29 3-MONTH EURO-DOLLAR DEPOSIT RATE U.S. 90-DAY C D ’S, SECONDARY MARKET DIFFERENTIAL AUG. AUG. AUG. 10.33 9.33 1.00 CHART 4. CALL MONEY RATES U.S. FEDERAL FUNDS OVERNIGHT EURO-DOLLAR DEPOSITS U.K. 2-DAY LOCAL AUTHORITY DEPOSITS CANADA GERMANY EURO-DM JAPAN FRANCE NETHERLANDS EURO-SWISS FRANC CHART 5. 3-MONTH I N T E P E S T RATES U.S. 90-DAY CD'S, SECONDARY MARKET GERMAN INTERBANK LOAN JAPANESE BANK LOANS 5 DISCOUNTS CANADIAN FINANCE PAPER INTERBANK STERLING SWISS INTERBANK LOAN WEIGHTED AVERAGE FOREIGN INTEREST RATE (G-10 COUNTRIES PLUS SWITZERLAND) C H A R T 6. E U R O -DOLLAR DEPOSIT RATES: LONDON OVERNIGHT 7-DAY 1-MONTH 3-MCNTH 6-MCNTH 1-YEAR CHART 7. SELECTED EURO-DOLLAR AND U.S. MONEY MARKET RATES 13 13 13 LAST VALUE PLOT DATE VALUE SERIES NAME CHART 3. I M E R E S T ARBITRAGE, 3-MONTH FUNDS EURO-DOLLAR DEPOSIT INTERBANK STERLING (LONDON), COVERED DIFFERENTIAL AUG. AUG. AUG. 13 13 13 10..33 10..13 0..20 U.S. COMMERCIAL PAPER CANADIAN FINANCE PAPER, DIFFERENTIAL AUG. AUG. AUG. 13 13 13 8..96 10..22 -1..59 EURC-DOLLAR DEPOSIT INTERBANK DM (FRANKFURT), COVERED DIFFERENTIAL AUG. AUG. AUG. 13 13 13 10..3 w 10..35 -0..02 EURC-DOLLAR DEPOSIT SWISS INTERBANK, COVERED DIFFERENTIAL AUG. AUG. AUG. 13 13 13 10..33 10..52 -0.,19 AUG. 8 AUG. 1 JUNE JULY 25 8 AUG. JUNE 13 4 JULY AUG. 8 10.75 7.76 8.61 4.60 12.37 13.34 9.45 11.13 JUNE DEC. MAY 10.58 6.63 10.39 COVERED CHART 9. LONG TERM GOVERMENT BOND YIELDS UNTIED STATES GERMANY JAPAN (MONTHLY) SWITZERLAND CANADA FRANCE NETHERLANDS UNITED KINGDOM 0. :. CORPORATE AAA BONDS EURO-DM BONDS EURO-DOLLAR BONDS CHART 0. INDUSTRIAL STOCK INDICES UNITED STATES JAPAN CANADA FRANCE UNITED KINGDOM SWITZERLAND GER MANY 1 AUG. AUG. 1 DEC. 29 JULY 18 AUG. 1 AUG. 1 AUG. 1 129.20 310.37 113.81 1 4 6 . 8C 116.41 77.65 97.28
@FedFRASER