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W W FILE
LIBRARY
FEDERAL RESERVE B A M
fl£ CHICAGJQ
Selected Interest &
Exchange Rates
Weekly Series of Charts
; December 10, 1984
DIVISION OF
INTERNATIONAL FINANCE
Prepared by the
FINANCIAL MARKETS
SECTION
BOARD OF GOVERNORS
FEDERAL RESERVE SYSTEM
Washington, D C. 20551
Table of Contents
TABLES
1. LATEST FIGURES PLOTTED
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
SUBSCRIPTION RATES:
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.
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 1 9 7 3 = 1 0 0
160
FOREIGN CURRENCY
PRICE OF U.S. DOLLAR
JAPANESE YEN
140
-
120
100
~l
I
I,,,,, 111,11,, i,7
I
—
CANADIAN DOLLAR
80
240
SWISS FRANC
—
I
I
200
I
GERMAN MARK
DUTCH GUILDEF\
I
I
I
I
~
^
l
l
l
I I I I I I I I I I I
120
100
-
100
U.K. POUND
80
70
i
FRENCH FRANC
—
80
—
-
60
-
50
-
70
I
60
I
40
50
I
I
I
I
I
I
I ill I|||||| I
I
I
I I
I
140
I I
I
I I
i
i
i
I
I
I
—I
120 L
BELGIAN FRANC
-
ITALIAN LIRA
100
-
80
-
70
-
60
-
50
-
|
I
-
i
i
11111111111 Ill,ill ill I
i
1982
1984
1982
1984
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
-
UIUIUIM
DUTCH GUILDEF\
U. K. POUND
/VV J
24
-1 J V v
r ^ x
+
0
-
I
I
I
I
I
I
1
1
1
1
1
1
11111111111
12
6
15
5
V\
-
SWISS FRANC
GERMAN MARK
W
1
-
• X
-
i
i
i
1
1
1
, , l u l u I , , ,,l,
1
1
1
1
1
1
16
FRENCH FRANC
-
12
-
8
JAPANESE YEN
1982
1984
1982
1984
CHART 3
PRICE OF GOLD IN LONDON
AVERAGES FOR WEEK ENDING WEDNESDAY
U.S. DOLLARS PER FINE OUNCE
U.S. DOLLARS PER FINE OUNCE
600
600
550
550
12.5 Kg BARS
AFTERNOON FIXING PRICE
500 -
500
450 -
450
400 -
400
350 -
350
300 -
300
I I I I I I I I I I I I I I I I I I I I I I I
250
1981
1982
1983
1984
250
CHART 4
CALL MONEY RATES
WEEKLY SERIES
PERCENT PER ANNUM
PERCENT PER ANNUM
24
28
24
-
.
20
-
\
20
V
yA
-
U. S. FEDERAL FUNDS
-
16
12
-
8
-
A
FRANCE
-
z r
-
16
W%/yN -
12
-
8
- -X
^
JAPAN
4
—
~
I
4
I
I
I
ill ii Mill i
|
|
I
I
I
I I | M | I I | I ,
0
24
A
EURO-SWISS
FRANC
CANADA
20
A
16
IV i\a
JNW-
-
I
U. K. 2-DAY LOCAL AUTHORITY
I
I
I
I
I
11111111111
GERMANY
EURO-DM
1982
1984
1982
1984
12
CHART 5
3-MONTH INTEREST RATES
WEEKLY SERIES
PERCENT PER ANNUM
PERCENT PER ANNUM
22
18
24
-
U.S. CD'S
CANADIAN FINANCE CO
PAPER
14 -
10
-
WEIGHTED AVERAGE
FOREIGN RATE
e
^
20
16 —
An
e
U.K. INTERBANK STERLING
,
—
\ .
12
#
—
\
-
GERMAN INTERBANK RATE
A
-
-
I
8
l
l
11
I SWISS INTERBANK RATE
-
JAPANESE BANK
LOANS AND DISCOUNTS
IV
-
—
-
-
-
I
1982
1984
I
I
I
I
1982
I
I I I I I I I I I I I
1984
CHART 6
EURO-DOLLAR DEPOSIT RATES LONDON
AVERAGES FOR WEEK ENDING WEDNESDAY
PERCENT PER ANNUM
PERCENT PER ANNUM
24
24
OVERNIGHT
3-MONTH
7-DAY
6-MONTH
1-MONTH
1-YEAR
1982
1984
1982
1984
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
26
22
-
FEDERAL FUNDS
18
3-MONTH
-
22
—
18
E U R O - D O L L A R DEPOSITS
14
14 -
OVERNIGHT
90-DAY CD' S
E U R O - D O L L A R DEPOSITS
10
I/*
i
-
\
10
l 111 l 11 11 l I 11 I i 11 i i I i i
DIFFERENTIAL
I
DIFFERENTIAL
(WV
+
0
J V Y A J W ^
1f
1
V1
f
1
1
I I I I I I I I iIi II Ii i I i i I i iI
1982
1984
I
I
11111111111
1982
11111111111
1984
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
28
EURO-DOLLAR DEPOSITS
20
20
DASHED LINE
CANADIAN FINANCE
CO. PAPER, COVERED
12
12
INTERBANK STERLING
COVERED LONDON
- U. S. COMMERCIAL PAPER
4
2
DIFFERENTIAL
-
DIFFERENTIAL
—
v a
\/ A^/v/W~'
[ y W v ^
2
28
SWISS INTERBANK (SF) COVERED
INTERBANK DM
20
COVERED FRANKFURT
12
EURO-DOLLAR DEPOSITS
EURO-DOLLAR DEPOSITS
DASHED LINE
-DASHED LINE
DIFFERENTIAL
DIFFERENTIAL
i
I
I
1982
I
ill ill nili
1984
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
.
i
i
i.
i
•
1
-^vkywvxyvv
i
i
1982
i
1984
CHART 9
LONG-TERM GOVERNMENT BOND YIELDS
WEEKLY SERES
ENT PER ANNUM
PERCENT PER Al
19
CANADA
UNITED STATES
15
-
A/
y
-
11
-
-
7
I
15
I
I
—
—
UNITED KINGDOM
SWITZERLAND
11
7
13
I
l
l
I
I
I
I ! I I I I I I I I I
MONTHLY
GERMANY
JAPAN
9
-
5
22
U. S. CORPORATE
MONTHLY
FRANCE
18
Aaa BONDS
14
10
NETHERLANDS
MONTHLY
6
1982
1984
1982
1984
CHART 10
INDUSTRIAL STOCK INDICES
WEEKLY SERIES
RATIO SCALE
1969=100
RATIO SCALE
1969=100
240
240
200
-
UNITED STATES
JAPAN
-
v
-
200
-
160
-
160
—
120
-
:
I
I
I
I
I
N
1 1 1
I
I
I
210
170
J
UNITED KINGDOM
-
V
/ V V v
FRANCE
,
-
130
-
90
-
190
—
150
-
110
-
-
-
—
I
70
70
.
I
I
llllllllill
GERMANY
llllllllill
r _
^
I
I
I
I
I
I
llllllllill
SWITZERLAND
-
-
-
I
I
I
I
I
I
I
MIMIMIM
I
I
I
I
llllllllill
I
180
NETHERLANDS
I
CANADA
140
-
—
-
100
-
80
-
60
I
I
I
I
I
1982
I
-
I
1984
I
I
I
I
1982
I
llllllllill
1984
120
L A S T V A L U E PLOTTED
DATE
VALUE
SERIES NAME
CHART
1. S P O T E X C H A N G E B A T E S A N D I N D I C E S
WEEKLY A V E R A G E S , NOON B U Y I N G B A T E S
(U.S. C E N T S )
G E R M A N MARK
J A P A N E S E YEN
DUTCH G U I L D E R
U.K. P O U N D
C A N A D I A N DOLLAR
FRENCH FRANC
SWISS F R A N C
BELGIAN FRANC
ITALIAN LIRA
S W E D I S H KBONA
INDICES, M A R C H
1973 B A S E R A T E S =
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 I N D I C E S , MAR
CG-10 C O U N T R I E S P L U S S W I T Z E R L A N D )
1973 =
U.S. D O L L A R
G E R M A N MARK
J A P A N E S E YEN
DUTCH G U I L D E R
U.K. P O U N D
CANADIAN DOLLAR
FRENCH FRANC
SWISS F R A N C
BELGIAN FRANC
ITALIAN LIRA
SWEDISH KRONA
CHART 2. 3 - M O N T H F O R W A R D E X C H A N G E R A T E S , PREMIUM OR
5
5
5
5
5
5
5
5
5
5
32.38
0. 40494
28.73
120. 19
75. 59
10. 57
39.30
1. 60864
0.05240
11.38
DEC.
DEC.
DEC.
DEC.
DEC.
DEC.
DEC.
DEC.
DEC.
5
5
5
5
5
5
5
5
5
91.09
106.03
82.47
48.61
75.34
47.63
126.42
63.39
29.77
5
5
5
5
5
5
5
5
5
5
5
148. 47
129.74
151.26
113.48
6 3.58
103.04
61.88
175. 28
85.86
37. 93
67.91
5
5
5
5
5
5
5
5
-1.50
-0.35
3.51
-1.63
4. 17
3.34
2. 84
- 5 . 17
100
G E R M A N MARK
J A P A N E S E YEN
DUTCH GUILDER
U.K. P O U N D
CANADIAN DOLLAR
FRENCH FRANC
SWISS F R A N C
BELGIAN FRANC
ITALIAN LIRA
CANADIAN DOLLAR
U.K. P O U N D
G E R M A N MARK
FRENCH FRANC
SWISS F R A N C
DUTCH G U I L D E R
J A P A N E S E YEN
I T A L I A N LISA
DEC.
DEC.
DEC.
DEC.
DEC.
DEC.
DEC.
DEC.
DEC.
DEC.
100
DEC.
DEC.
DEC,
DEC.
DEC.
DEC.
DEC.
DEC.
DEC.
DEC.
DEC.
DISCOUNT
DEC.
DEC.
DEC.
DEC.
DEC.
DEC.
DEC.
DEC.
SERIES
L A S T V A L U E PLOTTED
DATE
VALUE
NAME
CHART 3. G O L D PRICE IN L O N D O N , AFTEENOON
U.S. D O L L A R S PER
4. CALL
FIXING
FINE OUNCE
DEC.
5
330. 20
5
DEC.
DEC.
5
DEC. . 7
NOV. 16
7
DEC.
DEC.
7
DEC.
7
DEC.
7
1
JAN.
DEC.
7
8.83
8.66
9.63
11.96
5.50
5.40
6.06
11.50
10. 30
5.42
DEC.
DEC.
DEC.
DEC.
DEC.
DEC.
DEC,
5
5
5
5
5
5
5
8. 87
5.81
6.31
10.74
9.70
5.00
8.40
DEC.
DEC.
DEC.
DEC.
DEC.
DEC.
5
5
5
5
5
5
8.66
8. 78
8.88
9. 14
9.52
10. 13
MONEY R A T E S
U.S. F E D E R A L FUNDS
OVERNIGHT EURO-DOLLAR DEPOSITS
U. K.
CANADA
GERMANY
EURO-DM
JAPAN
FRANCE
NETHERLANDS
EURO-SWISS FRANC
C H A R T 5. 3 - M O N T H I N T E R E S T R A T E S
U.S. 90-DAY C D ' S , SECONDARY M A R K E T
G E R M A N INTERBANK LOAN
J A P A N E S E EANK L O A N S & D I S C O U N T S
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 I N T E R B A N K LOAN
W E I G H T E D A V E R A G E FOREIGN I N T E R E S T 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 )
.. E U R O - D O L L A R
DEPOSIT R A T E S : LONDON
OVERNIGHT
7-DAY
1-MONTH
3-MONTH
6-MONTH
1-YEAR
.
SELECTED
EURO-DOLLAR
AND U.S. M O N E Y M A R K E T R A T E S
OVERNIGHT EURO-DOLLAR DEPOSITS
U.S. F E D E R A L F U N D S
D I F F E R E N T I A L ADJ. FOR R E S E R V E R E Q U I R E M E N T S
DEC.
DEC.
DEC.
5
5
5
8.66
8. 83
- 0 . 17
3 - M O N T H EURO-DOLLAR DEPOSIT RATE
U.S. 9 0 - D A Y CD'S, SECONDARY M A R K E T
DIFFERENTIAL
DEC.
DEC.
DEC.
5
5
5
9. 14
8.87
0. 27
S E R I E S NAME
LAST VALUE PLOTTED
DATE
VALUE
CHART 8. INTEREST A R B I T R A G E , 3 - M O N T H FUNDS
EURO-DOLLAR D E P O S I T
I N T E R B A N K S T E R L I N G (LONDON), C O V E R E D
DIFFERENTIAL
DEC.
DEC,
DEC.
5
5
5
9. 14
9.34
-0.20
U. S. C O M M E R C I A L PAPER'
CANADIAN FINANCE PAPER, COVERED
DIFFERENTIAL
DEC.
DEC.
DEC.
5
5
5
8. 67
9.20
-0.53
EURO-DOLLAR DEPOSIT
INTERBANK DM (FRANKFURT), C O V E R E D
DIFFERENTIAL
DEC.
DEC.
DEC.
5
5
5
9. 14
9.38
- 0 . 24
EURO-DOLLAR D E P O S I T
SWISS I N T E R B A N K , C O V E R E D
DIFFERENTIAL
DEC.
DEC.
DEC.
5
5
5
9. 14
9.22
-0.08
NOV.
NOV.
OCT.
NOV.
NOV.
SEPT.
AUG.
NOV.
30
16
11.39
7.24
6.61
4. 81
11.81
12.62
8. 50
9. 69
CHART 9. LONG TERM G G V E R M E N T BOND Y I E L D S
U N I T E D STATES
GERMANY
J A P A N (MONTHLY)
SWITZERLAND
CANADA
FRANCE
N E T H E R L A N D S (MONTHLY)
U N I T E D KINGDOM
a
9
30
28
30
u. S. C O R P O R A T E
AAA BONDS
EURO-DOLLAR
CHART
10,
BONDS
12. 29
10. 29
NOV,
NOV.
STOCK I N D I C E S
UNITED STATES
UNITED KINGDOM
CANADA
GERMANY
SWITZERLAND
NETHERLANDS
FRANCE
JAPAN
NOV.
NOV.
NOV.
NOV.
NOV.
NOV.
NOV.
NOV.
28
28
28
28
28
28
28
28
170.63
204. 29
236.21
160. 46
126. 10
169.11
182. 63
226. 16
Zofcov/-
FEDERAL RESERVE statistical release
H.10 (512)
DECEMBER
7, 1984
FOREIGN EXCHANGE RATES
FOE THE WEEK BIDING
DBCEHBBB
7, 1984
The Board of Governors of the Federal Reserve System is advised that the Federal Reeerve 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
OBIT
•AUSTRALIA
AUSTRIA
BELGIUM
BRAZIL
CANADA
CHINA# P.R.
DENMARK
FINLAND
FRANCE
GERMANY
GREECE
HONG KONG
INDIA
•IRELAND
ISRAEL
ITALY
JAPAN
MALAYSIA
MEXICO
NETHERLANDS
•NEW ZEALAND
NORWAY
PHILIPPINES
PORTUGAL
SINGAPORE
•SOUTH AFRICA
SOUTH KOREA
SPAIN
SRI LANKA
SWEDEN
SWITZERLAND
TAIWAN
THAILAND
•UNITED KINGDOM
VENEZUELA
DOLLAR
SCHILLING
FRANC
CRUZEIRO
DOLLAR
YUAN
KRONE
MARKKA
FRANC
D. MARK
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:
•UNITED STATES
DOLLAR
DEC.
85.42
21.890
62.630
2881.00
1.3251
2.7943
11.2100
6.4615
9.5425
3.1150
127.250
7.8315
12.2900
99.90
NA
1926.00
248.20
2.4140
213.0000
3.5060
48.480
8.9850
HA
167.000
2.1715
53.80
824.20
173.550
26.182
8.8400
2.5655
39.520
27.050
119.43
NA
149.51
(CURRENCY OMITS PER DOLLAR
DEC.
DEC.
85.55
21.490
61.820
2881.00
1.3218
2.7943
11.0200
6.3550
9.3750
3.0595
125.700
7.8285
12.2900
101.60
NA
1887.00
246.45
2.4140
213.0000
3.4520
48.760
8.8505
NA
166.500
2.1665
54.55
825.20
170.700
26.182
8.7150
2.5300
39.480
27.050
120.85
NA
147.47
85.45
21.625
61.930
2923.00
1.3216
2.7831
11.0750
6.3970
9.4300
3.0790
126.150
7.8260
12.2900
101.05
NA
1905.00
246.80
2.4120
213.7500
3.4730
48.750
8.9350
NA
165.500
2.1665
54.30
824.20
171.200
26.163
8.8000
2.5450
39.460
27.050
120.80
NA
148.12
DEC.
85.20
21.510
61.600
2923.00
1.3208
2.7831
11.0080
6.3835
9.3900
3.0620
126.750
7.8270
12.2600
101.55
NA
1895.00
246.55
2.4130
216.0000
3.4575
48.660
8.9025
NA
166.000
2.1675
54.45
823.60
171.200
NA
8.7620
2.5260
39.460
27.100
120.70
NA
147.61
DEC.
84.88
21.685
62.180
2923.00
1.3211
2.7831
11.0870
6.4290
9.4490
3.0870
126.100
7.8280
12.2600
100.78
NA
1906.00
247.40
2.4150
216.5000
3.4805
48.660
8.9275
NA
165.750
2. 1700
54.30
823.70
171.100
26. 163
8.8000
2.5440
39.480
27. 100
120.35
NA
148.42
•INDEX OF WEIGHTED AVERAGE EXCHANGE VALUE OF U.S. DOLLAR AGAINST CURRENCIES OF OTHER G-11
COUNTRIES. MARCH 1973 = 100. WEIGHTS ARB 1972-76 GLOBAL TRADE OF EACH OF THE 10 COUNTRIES.
SERIES REVISED AS OF AUGUST 1978. FOR DESCRIPTION AND BACK DATA, SEE "INDEX OF THE
WEIGHTED-AVERAGE EXCHANGE VALUE OF THE U.S. DOLLAR: REVISION" ON PAGE 700 OF THE AUGUST
1978 FEDERAL RESERVE BULLETIN.
•VALUE IS U.S. CENTS
@FedFRASER