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Selected Interest & Exchange Rates Weekly Series of Charts August 3,1981 DIVISION OF INTERNATIONAL FINANCE Prepared by the FINANCIAL 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, 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 S C A L E M A R C H 1973=100 120 120 - x - — UK. POUND 100 100 - / ^ \ / \ 80 - \\ ~ FOREIGN CURRENCY PRICE OF U.S. DOLLAR 60 I I i I i i I I I ,|h~ I 80 60 180 160 Ay 140 FRENCH FRANC GERMAIt MARK 120 100 120 — W X " - I I I "l I I \ - ~ i i i I I I - m I X I M I M IO fhihT 100 80 240 160 140 S- JAPANESE YEN Jf\ . - ,J\S\ y w - 200 120 * 100 — I I 160 — | — - SWISS FRANC — — Illllllllll I I I I 1 1 1 Illllllllll Illllllllll 140 120 160 BELGIAN FRANC - A - 140 120 DUTCH GUILDER 100 I I I Illllllllll 100 100 ITALIAN LIRA 80 80 — 60 I 60 CANADIAN DOLLAR vV I 40 1979 1981 I - 40 I 1979 1981 CHART 2 3-MONTH FORWARD EXCHANGE RATES PREMIUM (+) OR ( - ) AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER ANNUM PERCENT PER ANNUM 24 CANADIAN DOLLAR ITALIAN LIRA 24 DUTCH GUILDER U. K. POUND 5 18 GERMAN MARK SWISS FRANC 6 + 0 12 FRENCH FRANC JAPANESE YEN 6 + 0 6 1979 1981 1979 1981 CHART 3 PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY U.S. DOLLARS PER FINE C U.S. D .LARS PER FINE OUNCE 800 800 750 750 700 700 650 650 600 600 550 550 500 500 12.5 Kg BARG AFTERNOON FIXING PRICE 450 450 400 400 350 350 300 300 250 250 200 200 150 150 I I I M 100 1978 1979 I I I I I I l l 1980 I I I I I M 1981 I I 100 CHART 4 CALL MONEY RATES WEEKLY SERIES ANNUM PERCENT PER 28 28 24 24 U. S. FEDERAL FUNDS 20 U. K. 2-DAY LOCAL AUTHORITY 20 16 16 12 12 8 8 4 4 24 24 20 20 16 16 CANADA 12 12 EURO-SWISS FRANC 8 8 4 4 NETHERLANDS + + 0 0 24 24 20 i FRANCE 16 16 GERMANY 12 8 12 n f \ J 8 JAPAN 4 0 20 • 4 EURO-DM M I M I 1979 iiiniiiii 0 1981 1979 1981 CHART 5 3-MONTH INTEREST RATES WEEKLY SERIES ENT PER ANNUM PERCENT PER Ah 20 20 U. S. CD' S 16 16 12 12 U.K. INTERBANK STERLING 8 8 WEIGHTED AVERAGE FOREIGN RATE 4 4 22 16 18 CANADIAN FINANCE CO. PAPER 12 GERMAN INTERBANK RATE 14 8 10 4 6 0 16 12 JAPANESE BANK LOANS AND DISCOUNTS SWISS INTERBANK RATE 12 JV - 8 J 4 1979 1981 I I 1979 - 8 — 4 0 1981 CHART 6 EURO-DOLLAR DEPOSIT RATES LONDON AVERAGES FOR WEEK ENDING WEDNESDAY PER PERCENT PER AN ENT PER ANNUM 24 24 3-MONTH OVERNIGHT 20 20 16 16 12 12 8 8 4 4 24 24 6-MONTH 7-DAY 20 20 16 16 12 12 8 8 4 4 24 24 1-MONTH 20 16 1-YEAR 20 [V , - r \J - ~ 12 16 12 - 8 4 8 I I I — I I I ill iiMilli 1979 I 1981 I I I I 1979 I M 11111111! 4 1981 CHART 7 SELECTED EURO-DOLLAR AND U. S. MONEY MARKET RATES DIFFERENTIAL: PLUS(+), FAVORS BORROWWG IN U. S. AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER ANNUM PERCENT PER ANNUM 26 26 22 FEDERAL FUNDS - 18 3-MONTH E U R O - D O L L A R DEPOSITS 14 10 DAY CD OVERNIGHT E U R O - D O L L A R DEPOSITS I I I I I I I I I I 1 I I 11 I I I I I I I I I II I I I I I 6 3 DIFFERENTIAL DIFFERENTIAL 2 A N r y v 1 + 0 1 2 3 I 1979 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 1961 I I I I I I I I I I I I I 1979 11111111111 1981 4 CHART 8 INTEREST ARBITRAGE: 3-MONTH FUNDS DIFFERENTIAL: P L U S M , INDICATES FAVOR DOLLAR ASSETS AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER ANNUM PERCENT PER ANNUM 28 28 CANADIAN FINANCE CO. PAPER, COVERED EURO-DOLLAR DEPOSITS 20 ' INTERBANK STERLING 20 U. S. COMMERCIAL PAPER COVERED LONDON 2 4 DIFFERENTIAL DIFFERENTIAL 2 0 i i l i i l n l i i 2 28 28 INTERBANK DM COVERED FRANKFURT SWISS INTERBANK (SF) COVERED 20 20 VW EURO-DOLLAR DEPOSITS 2 EURO-DOLLAR DEPOSITS DIFFERENTIAL 2 DIFFERENTIAL 0 2 1979 1981 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 1979 1981 CHART 9 LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES PERCENT PER Ah ENT PER A N N U M 17 17 15 15 CANADA UNITED STATES 13 13 11 11 9 9 7 7 12 9 10 7 SWITZERLAND 8 5 GERMANY 6 3 4 1 13 15 MONTHLY UNITED KINGDOM 11 13 9 11 7 9 5 7 18 U. S. CORPORATE 18 MONTHLY 16 16 FRANCE 14 12 14 12 Aaa BONDS 10 10 8 E U R O - D O L L A R BONDS I 6 1979 8 NETHERLANDS 1981 I I I I I 1979 6 1981 CHART 10 STOCK INDICES WEEKLY SERIES RATIO SCALE 1977=100 RATIO SCALE 1977=100 160 140 — 120 - 100 - UNITED STATES Al f X v / S > V x - jaJ \JV - I 80 I I 11111111111 111II111111 140 80 60 140 — 120 100 - v v k UNITED KINGDOM A v h ~ / - — — I I | I I / v y - V ~ V 100 - I I I I I I M l n l u h 11111111111 80 60 140 140 FRANCE /wVt 120 100 120 - - N I I I I U I M I SWITZERLAND - J > zvA yxA I - I I 120 y 80 GERMANY - - - - I I I I I I I 100 80 60 280 — - /If - - A / r NETHERLANDS y - 240 - 200 - 160 CANADA 120 i 1979 1981 i i I I 1979 I n l n l n l n n l n l n l n 1981 90 LAST VALUE PLOTTED DATE VALUE SERIES NAME CHART 1. SPOT EXCHANGE BATES AND INDICES WEEKLY AVERAGES, NOON BUYING RATES (U.S. CENTS) GERMAN MARK JAPANESE YEN DUTCH GUILDER U.K. POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC BELGIAN FRANC ITALIAN LIRA JULY JULY JULY JULY JULY JULY JULY JULY JULY 29 29 29 29 29 29 29 29 29 40.92 0.42352 36. 78 185.,96 81.,90 17.,22 47.,34 2.,50154 0.,08215 JULY JULY JULY JULY JULY JULY JULY JULY JULY 29 29 29 29 29 29 29 29 29 115.,12 110.89 105. 58 75.,22 81. 63 77. 59 152. 28 98. 57 46. 67 29 29 29 29 29 29 29 29 29 29 29 110.45 129.95 122.55 115.23 76.61 87.42 82.23 167.06 106.95 47.89 91.75 29 29 29 29 29 29 29 29 -1.57 4..32 6.,32 -3.09 9..37 5. 60 11.,63 -11.21 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 GERHAN MARK JAPANESE YEN DUTCH GUILDER U.K. POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC BELGIAN FRANC ITALIAN LIRA SWEDISH KRONA JULY JULY JULY JULY JULY JULY JULY JULY JULY JULY JULY 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 JULY JULY JULY JULY JULY JULY JULY JULY SERIES NAME LAST VALUE PLOTTED DATE VALUE CHART 3. GOLD PRICE IN LONDON, AFTERNOON FIXING U.S. DOLLARS PER FINE OUNCE JULY 29 406. 37 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 JULY JULY JULY JUNE JULY JULY JULY JULY JULY JULY 29 29 24 26 24 17 24 24 10 17 18. 54 19. 62 12. 63 18. 85 11. 90 11. 77 7. 31 18. 25 11. 50 1. 00 JULY JULY JULY JULY JULY JULY JULY 29 29 29 29 29 29 29 18.01 12.94 7.44 20.55 14.44 9.50 13.85 JULY JULY JULY JULY JULY JULY 29 29 29 29 29 29 19.62 19.34 19.49 18.91 18.75 17.41 OVERNIGHT EURO-DOLLAR DEPOSITS U.S. FEDERAL FUNDS DIFFERENTIAL ADJ. FOR RESERVE REQUIREMENTS JULY 29 JULY 29 JULY 29 19.62 18.54 1.08 3-MONTH EURO-DOLLAR DEPOSIT RATE U.S. 90-DAY CD'S, SECONDARY MARKET DIFFERENTIAL JULY 29 JULY 29 JULY 29 18.91 18.01 0.90 CHART 5. 3-MONTH INTEREST RATES U.S. 90-DAY CD'S, SECONDARY MARKET GERMAN INTERBANK LOAN JAPANESE BANK LOANS 6 DISCOUNTS CANADIAN FINANCE PAPER INTERBANK STERLING SWISS INTERBANK LOAN WEIGHTED AVERAGE FOREIGN INTEREST RATE (G-10 COUNTRIES PLUS SWITZERLAND) CHART 6. EURO-DOLLAR DEPOSIT RATES: LONDON OVERNIGHT 7-DAY 1-MONTH 3-MONTH 6-MONTH 1-YEAR . SELECTED EURO-DOLLAR AND U.S. MONEY MARKET RATES SERIES NAME LAST VALUE PLOTTED DATE VALUE CHART 8. INTEREST ARBITRAGE, 3-MONTH FUNDS EURO-DOLLAR DEPOSIT INTERBANK STERLING (LONDON), COVERED DIFFERENTIAL JULY 29 JULY 29 JULY 29 18- 91 18. 92 - 0 . 01 U.S. COMMERCIAL PAPER CANADIAN FINANCE PAPER, COVERED DIFFERENTIAL JULY 29 JULY 29 JULY 29 17. 21 18. 90 - 1 . 69 EURO-DOLLAR DEPOSIT INTERBANK DM (FRANKFURT), COVERED DIFFERENTIAL JULY 29 JULY 29 JULY 29 18.91 19.47 -0.56 EURO-DOLLAR DEPOSIT SWISS INTERBANK, COVERED DIFFERENTIAL JULY 29 JULY 29 JULY 29 18.91 19.09 -0,18 24 24 14. 56 11. 12 8. 81 5. 54 15. 03 17. 44 11. 03 12. 86 CHART 9. LONG TERM GOVERMENT BOND YIELDS UNITED STATES GERMANY JAPAN (MONTHLY) SWITZERLAND CANADA FRANCE NETHERLANDS UNITED KINGDOM JULY JULY MAY JULY JUNE JUNE JULY JULY 10 26 12 10 24 U.S. CORPORATE AAA BONDS EURO-DOLLAR BONDS CHART 10. . I JUNE MAY 13.75 12.64 STOCK INDICES UNITED STATES UNITED KINGDOM CANADA GERMANY SWITZERLAND NETHERLANDS FRANCE JAPAN JULY JULY JULY JULY JULY JULY JULY JULY 22 22 22 22 22 22 22 22 132. 31 113. 66 233. 13 102. 43 95. 94 85. 76 87. 44 155. 85 #fm&y, FEDERAL RESERVE statistical release **' B 10<512) * J0LI 31 FOREIGN EXCHANGE RATES FOB THE WEEK ENDING ' 1981 JULY 31, 1981 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 rate in New York City for cable transfers payable in foreign currencies: COUNTRY AUSTRALIA AUSTRIA BELGIUM CANADA DENMARK FINLAND FRANCE GERMANY INDIA IRELAND ITALY JAPAN MALAYSIA MEXICO NETHERLANDS NEW ZEALAND NORWAY PORTUGAL SOUTH AFRICA SPAIN SRI LANKA SWEDEN SWITZERLAND UNITED KINGDOM 'RATE U.S. CENTS JULY 29 MONETARY UNIT JULY 27 JULY 28 DOLLAR SCHILLING FRANC DOLLAR KRONE MARKKA FRANC D. MARK RUPEE POUND LIRA YEN DOLLAR PESO GUILDER DOLLAR KRONE ESCUDO RAND PESETA RUPEE KRONA FRANC POUND 114.0900 5.85480 ' 2.51636 81.7127 13.1234 22.0580 17.2771 41.0593 11.2108 150.0000 0.08230 0.42355 42.2654 4.0584 36.8528 83.6300 16.3733 1.5361 106.4500 1.0277 5.3502 19.2715 47.3373 186.0000 113.8800 5.81395 2.50627 81-5195 13.0463 21.9202 17.2384 40.9668 11.1359 149.0000 0.08230 0.42150 42.3191 4.0584 36.8460 83.1000 16,3332 1.5302 105.3500 1.0179 5.3502 19.2197 47.2813 186.3500 113.9500 5.81395 2.48571 81.4996 12.9618 21.8436 17.1600 40.6918 11.1359 148.3000 0.08190 0.42043 42.3191 4.0601 36.6300 83.0600 16.3052 1-5302 105.5000 1.0173 5.3502 19.1479 47.1254 185.8000 JULY 30 JULY 31 113.6800 5.75043 2.48447 81.6327 12.9149 21.8531 17.1674 40.7000 11.0865 147.6000 0.08197 0.41876 42.3012 4.0601 36.5965 82.6000 16.2536 1.5221 104.9800 1.0086 5.3502 19.0840 46.9043 185.7000 113.5200 5.76701 2.47341 81.0439 12.8733 21.8579 17.0329 40.4694 11.1111 148.4000 0.08150 0.41597 42.3729 4.0453 36.4299 82.7500 16.2933 1.5256 104.8500 1.0132 5.3502 19.1278 46.5441 184.0000
@FedFRASER