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(5 1 6 / 5 1 7 ) Selected Interest Exchange Rates W eekly Series o f Charts August 4,1980 DIVISION OF INTER N A TIO N A L FINANCE Prepared by the F IN A N C IA L MARKETS SECTION BOARD OF GOVERNORS FEDERAL RESERVE 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 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 2. D A IL Y C E R T IF IE D SPOT EXCHANGE RATES-H.10 RELEASE each. Address requests to Publications Services, Divi CHARTS 1. SPOT EXCHANGE RATE INDICES 2. 3-M ONTH FORW ARD EXCHANGE RATES 3. GOLD PRICE -LONDON 4. C ALL M O NEY RATES 5. 3-M ONTH IN TER EST RATES 6. EURO-DO LLAR DEPOSIT RATES 7. SELECTED EURO-DO LLAR A N D U.S. M O NEY M A RK ET RATES 8. IN TER EST A R B ITR A G E : 3-M ONTH FUNDS 9. LONG-TERM G O V ER N M EN T BOND Y IE LD S 10. IN D U S T R IA L STOCK INDICES 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. CHART 1 SPOT EXCHANGE INDICES DOLLAR PRICES OF FOREIGN CURRENCIES AND WEIGHTED AVERAGE VALUES (THIN LINE) AVERAGES FOR WEEK ENDING WEDNESDAY R A T IO MARCH R A T IO SCALE MARCH 1973=100 SCALE 1973=100 120 120 100 100 80 80 60 60 180 120 160 140 100 120 80 100 240 160 140 200 120 160 100 120 80 160 160 140 140 120 120 100 100 100 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 12 6 + 0 6 1978 1980 1978 1980 CHART 3 PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY U .S . I 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 ■I I l . I. I l J,1.1, 1977 1978 1979 M 11 1 11 I M 1980 100 CHART 4 CALL MONEY RATES WEEKLY SERIES 20 20 16 16 OVERNIGHT EURO-DOLLARS 12 12 8 8 4 4 16 20 12 16 8 12 8 4 0 12 4 8 0 12 4 8 + 0 4 4 0 1978 1980 CHART 5 3-MONTH INTEREST RATES WEEKLY SERIES :n t per P E R C E N T P E R A^ annum 20 20 16 16 U. S. C D 'S 12 12 8 8 11!11iII11 ll 111 M 11I]11 4 4 18 14 14 10 10 6 6 2 12 16 r v 8 12 LOANS AND DISCOUNTS JAPANESE BANK 8 4 4 0 1978 1980 1978 1980 CHART 6 EURO-DOLLAR DEPOSIT RATES Lo n d o n AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER AN ENT PER ANNUM 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 E R C E N T P ER A N N U M P E R C E N T PER ANNUM +0 I 1978 1 PE RC ENT ON D IF F E R E N T IA L S C A L E = 2 PERCENT ON RATE SC A LE 1980 CHART 8 INTEREST ARBITRAGE: 3-MONTH FUNDS DIFFERENTIAL: PLUS(+), INDICATES FAVOR DOLLAR ASSETS AVERAGES FOR WEEK ENDING WEDNESDAY ENT P E R A N N U M P E R C E N T P E R AN 20 20 16 16 12 12 8 8 4 4 0 4 0 2 2 + 0 + 0 2 2 20 4 20 16 16 INTERBANK DM CO VER ED FRA NKFURT 12 12 8 8 4 4 2 2 DIFFERENTIAL + 0 DIFFERENTIAL + 0 V* 11 IiiIiiIii 2 1978 1980 PERCENT ON D IF F E R E N T IA L S C A LE = 2 PERCENT ON RATE S C A LE i i i i i i .ill.llIiil 11 1978 2 1980 CHART 9 LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES 14 15 12 13 10 11 8 9 6 10 7 8 5 6 3 4 1 7 16 17 14 15 12 13 10 11 8 9 6 7 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 UNITED STATES 100 80 R A T IO SCALE 1969=100 400 100 360 90 JAPAN 320 80 280 70 240 60 200 50 140 140 CANADA 120 D IS C O N T IN U E D S E R IE S 120 100 100 80 80 I I I 11111111111 160 140 120 100 80 1978 1980 1978 1980 LAST VALUE PLOTTED DATE VALUE SERIES NAME CHART 1- SPOT EXCHANGE RATES AND INDICES WEEKLY AVERAGES, NOON BUYING SATES (U.S. CENTS) GERMAN HARK JAPANESE YEN DUTCH GUILDER U.K. POUND CANADIAN DOLLAR FRENCH PRANC SWISS PRANC BELGIAN FRANC ITALIAN LIRA JULY JULY JULY JULY JULY JULY JULY JULY JULY 30 30 30 30 30 30 30 30 30 57.19 0.44256 52.33 237.84 86.15 24.64 61.95 3.57676 0.12064 JULY JULY JULY JULY JULY JULY JULY JULY JULY 30 30 30 30 30 30 30 30 30 160.89 115.88 150.22 96.20 85.86 111.02 199.29 140.94 68.53 30 30 30 30 30 30 30 30 30 30 30 84.96 151.47 102.15 134.71 83.16 73.90 97.39 178.12 125.37 57.99 94.24 30 30 30 30 30 30 30 30 -1.23 -5.96 0.69 -2.40 4.11 -0.30 -3.62 -14. 4 9 INDICES, MARCH 1973 BASE RATES = 100 GERMAN MARK JAPANESE YEN BOTCH GUILDER U.K. POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC BELGIAN FRANC ITALIAN LIRA WEIGHTED AVERAGE EXCHANGE VALUE INDICES, (G-10 COUNTRIES PLUS SWITZERLAND) U.S. DOLLAR GERMAN MARK JAPANESE YEN DUTCH GUILDER U.K. POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC BELGIAN FRANC ITALIAN LIRA SWEDISH KRONA MAR 1973 = 100 JULY JULY JULY JULY JULY JULY JULY JULY JULY JULY JULY ART 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 30 642-80 CHART 4. CALL MONEY RATES U.S. FEDERAL FUNDS C V ERNIGHT EURO-DOLLAR DEPOSITS U.K. 2-DAY LOCAL AUTHORITY DEPOSITS CANADA GERMANY SURC-DM JAPAN FRANCE NETHERLANDS EURC-SKISS FRANC JULY JULY JULY JULY JULY JULY JULY JULY JULY JULY 30 30 25 18 25 25 25 25 4 25 8.98 8.84 16.88 10.25 9.50 9.10 12.81 11.75 10.50 1.72 JULY JULY JULY JULY JULY JULY JULY 30 30 30 30 30 30 30 8.61 9.20 12.81 10.44 15.48 5.15 11.52 JULY JULY JULY JULY JULY JULY 30 30 30 30 30 30 8.84 8.86 9.29 9.30 9.54 9.74 OVER N I G H T EURO-DOLLAR DEPOSITS U.S. FEDERAL FUNDS DIFFERENTIAL ADJ. FOR RESERVE REQUIREMENTS JULY 30 JULY 30 JULY 30 8.84 8.98 -0.14 3-MONTH EURO-DOLLAR DEPOSIT RATE U.S. 90-DAY CD'S, SECONDARY MARKET DIFFERENTIAL JULY 30 JULY 30 JULY 30 9.30 8.61 0.69 CHART 5. 3 -MONTH INT E R E S T RATES U.S. 90-DAY CD* S, SECONDARY MARKET GERMAN INTERBANK LOAN JAPANESE BANK LOANS 8 DISCOUNTS C ANADIAN FINANCE PAPER INTERBANK STERLING SWISS INTERBANK LCAN W EIGHTED AVERAGE FOREIGN INTEREST RATE (G-10 COUNTRIES PLUS SWITZERLAND) CHART 6. EURO-DOLLAR DEPOSIT RATES: LONDON OVERNIGHT 7-DAY 1-MONTH 3-MCNTH 6-MONTH 1-YEAR CHART 7. SELECTED EURO-DOLLAR AND U.S. MONEY MARKET RATES SERIES NAME LAST VALUE PLOTTED DATE VALU2 CHART 3. INTEREST ARBITRAGE, 3 - MONTH FUNDS EURC-DOLLAR DEPOSIT INTERBANK STERLING (LONDON) , COVERED DIFFERENTIAL JULY 30 JULY 30 JULY 30 9..30 9,.28 0..02 U.S. COMMERCIAL PAPER CANADIAN FINANCE PAPER, COVERED DIFFERENTIAL JULY 30 JULY 30 JULY 30 8..02 9..18 -0..76 EURC-DOLLAR DEPOSIT INTERBANK DM (FRANKFURT), COVERED DIFFERENTIAL JULY 30 JULY 30 JULY 30 9..30 9..91 -0..61 EURC-DOLLAR DEPOSIT SWISS INTERBANK, COVERED DIFFERENTIAL JULY 30 JULY 30 JULY 30 9..30 9..31 -0..01 18 25 10.20 7.86 8.61 0.59 11.30 13.30 9.05 10.58 CHART 9. LCNG TERM GOVERMENT BOND YIELDS UNITED STATES GERMANY JAPAN (MONTHLY) SWITZERLAND CANADA ERA NC3 NETHERLANDS UNITED KINGDOM JULY JULY JUNE JULY JULY JUNE JULY JULY 18 18 13 0 25 U.S. CORPORATE AAA BONDS EURO— DM BONDS SUBC-DOLLAB BONDS JUNE DEC. MAY 10.53 6.63 10.39 CHART 10. INDUSTRIAL STOCK INDICES UNITED STATES JAPAN CANADA FRANCE UNITED KINGDOM SWITZERLAND GERMANY JULY JULY DEC. JULY JULY JULY JULY 25 25 29 11 25 25 25 127.55 310.99 113.81 107.60 115.77 77.53 97.38
@FedFRASER