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(5 1 6 / 5 1 7 )
Selected Interest
Exchange Rates
W eekly Series o f Charts
December 19,1983
Prepared by the
FINANCIAL MARKETS
SECTION
DIVISION OF
INTERNATIONAL FINANCE
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
2. D A IL Y C E R T IF IE D SPOT
EXCHANGE RATES--
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
H.10 RELEASE
CHARTS
1. SPOT EXCHANGE RATE INDICES
2. 3-MONTH FORW ARD EXCHANGE RATES
3. GOLD PRICE--LONDON
4. CALL M O NEY RATES
5. 3-M ONTH INTEREST RATES
6. EURO DOLLAR DEPOSIT RATES
7. SELECTED EURO DOLLAR AND
U.S. M O NEY M A RK ET RATES
8. INTEREST A R B ITRA G E: 3-MONTH 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
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
160
140
120
100
80
240
200
160
120
180
160
140
120
100
120
100
80
60
50
45
80
70
60
50
40
30
1981
1983
1981
1983
CHART 2
3-MONTH FORWARD EXCHANGE RATES
PREMIUM (+) OR ( - )
AVERAGES FOR WEEK ENDING WEDNESDAY
PERCENT PER ANNUM
PERCENT PER ANNUM
24
+
0
24
12
6
+
0
6
18
12
6
0
1981
1983
1981
1983
CHART 3
PRICE OF GOLD IN LONDON
AVERAGES FOR WEEK ENDING WEDNESDAY
U .S .
c
A R S P E R F IN E O U N C E
U .S . O 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
500
500
450
450
400
400
350
? 50
300
300
IIIII1I
250
1980
1981
1982
J - L l .U
I I .1 I I
1983
250
CHART 4
CALL MONEY RATES
WEEKLY SERIES
NT PER ANNUM
PERCENT PER AN»
28
24
24
20
20
16
16
12
12
8
8
4
4
0
24
24
20
20
16
16
12
12
8
8
4
4
+
+
0
24
20
20
16
16
12
0
12
8
8
4
4
0
char;
s
3-MONTH INTEREST RATES
W EE K LY S E R IE S
22
24
18
20
14
16
10
12
6
20
8
16
16
12
12
8
8
4
12
16
8
12
8
4
4
0
1981
1983
1981
1983
CHART 6
EURO-DOLLAR DEPOSIT RATES
London
A VERA G ES FOR WEEK ENDING W EDNESDAY
PERCENT PER
24
24
20
20
16
16
12
12
8
8
4
4
24
24
20
20
16
16
12
12
8
8
4
4
24
24
20
20
16
16
12
12
8
8
4
4
1981
1983
1981
1983
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
3
2
i o+
1
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
20
12
1981
1 PERCENT
ON
D IF F E R E N T IA L
1983
SCALE
=
2
PERCENT
ON
RATE
SCALE
CHART 9
LONG-TERM GOVERNMENT BOND YIELDS
WEEKLY SERIES
19
19
15
15
11
11
7
7
15
9
11
5
1
7
13
13
9
9
5
5
22
22
18
18
14
14
10
10
6
6
1981
1983
1981
1983
CHART 10
INDUSTRIAL STOCK INDICES
WEEKLY SERIES
RATIO SCALE
1969=100
RATIO SCALE
1969=100
1981
1983
1981
1983
SERIES
LAST VALOR PLOTTED
DATE
VALUE
NAME
CHART 1. SPOT EXCHANGE RATES AND INDICES
MEEKLY AVERAGES,
NCON BOXING RATES
{U-S. CENTS)
GERMAN MARK
JAPANESE YEN
DOTCH GUILDER
0.K. POUND
CANADIAN DOLLAR
FRENCH FRANC
SWISS FRANC
BELGIAN FRANC
ITALIAN LIRA
DEC,
DEC.
DEC.
DEC.
DEC.
DEC.
DEC.
DEC.
DEC.
14
14
14
14
14
14
14
14
14
36.29
0.42403
32.36
142.77
80.08
11.92
45.25
1.78775
0.05997
DEC.
DEC.
DEC.
DEC.
DEC.
DEC.
DEC.
DEC.
DEC.
14
14
14
14
14
14
14
14
14
102. 10
11 1.03
92.91
57.75
79.82
53.69
145.57
70.45
34.07
DEC. 14
DEC. 14
DEC. 14
DEC. 14
DEC. 14
DEC. 14
DEC. 14
DEC. 14
DEC. 14
DEC. 14
DEC. 14
133.15
134.23
144.70
117.62
69.95
99.99
64.27
185.55
87.67
39.99
67.87
INDICES, MARCH 1973 BASE BATES « 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 MASK
JAPANESE YEN
DOTCH GUILDER
0. K. POUND
CANADIAN DOLLAR
FRENCH FRANC
SWISS FRANC
BELGIAN FRANC
ITALIAN LIRA
SWEDISH KRONA
CHART 2. 3-MONTH FORWARD EXCHANGE RATES,
CANADIAN DOLLAR
O.K. POUND
GERMAN MARK
FRENCH FRANC
SWISS FRANC
DUTCH GUILDER
JAPANESE YEN
ITALIAN LIRA
PREMIUM OR DISCOUNT
DEC. 14
DEC. 14
DEC. 14
DEC. 14
DEC. 14
DEC. 14
DEC. 14
DEC. 14
0.37
0.87
3.86
-2.71
5.83
3.83
3.52
-6.72
LAST VALUE PLOTTED
DATE
VALUE
SERIES NAME
C H A R T 3. GO LD PRICE IN LONDON,
U.S.
CHART
A F T E R N O O N FIXING
D O L L A R S PER FINE O U N C E
. E U R O - D O L L A R D E P O S I T RATES:
DEC.
DEC.
DEC.
DEC.
DEC.
DEC.
DEC.
DEC.
JAN.
DEC.
14
14
2
2
2
16
2
2
1
16
9.52
9.39
8.94
9.54
5.55
5.44
6.25
12.75
10.30
1.63
DEC.
DEC.
DEC.
DEC.
DEC.
DEC.
DEC.
14
14
7
14
14
14
14
9.71
6.42
6.25
9.90
9.36
4.38
8.65
DEC.
DEC.
DEC.
DEC.
DEC.
DEC.
14
14
14
14
14
14
9.39
9.48
10.10
10.17
10.38
10.74
LONDON
OVERNIGHT
7-DAY
1— MONTH
3 - MONTH
6— MONTH
1-YEAfi
CHART
391.84
. 3 - M C N 1 H I N T E R E S T RATES
U.S. 9 0 -D AY C D ’S, S E C O N D A R Y MARK ET
G E R M A N I N T E R B A N K LOAN
J A P A N E S E BANK LC ANS 6 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
INTERBANK STERLING
S W IS S I N T E R B A N K LOAN
W E I G H T E D A V E R AG E FOREIGN IN TE R E S T B A TE
(G-10 C O U N T R I E S PLUS SW IT ZE RL AN D)
CHART
14
. C A L L MONEY RATES
U-S, F E D E R A L FU ND S
OVERNIGHT EURC-COLLAB DEPOSITS
U.K.
CANADA
GERMANY
EU R C - D M
JAPAN
FRANCE
NETHERLANDS
E U R C - S W I S S FRANC
CH A R T
DEC,
, S E L E C T E D E U R O - D O L L A R AND U.S.
MONEY M A R K E T RA TE S
OVERNIGHT EURC-EOLLAR DEPOSITS
U.S. F E D E R A L FU ND S
D I F F E R E N T I A L ADJ, FCR R E S E R V E R E Q U I R E M E N T S
DEC.
DEC.
DEC.
14
14
14
9.39
9.52
-0.13
3 - M C N T H E U R C - D O L L A R D E P O SI T RATE
U.S. 90 - D A Y CD'S, S E C O N D A R Y M A R K E T
DIFFERENTIAL
DEC.
DEC.
DEC.
14
14
14
10. 17
9.71
0.47
SERIES NAME
LAST VALUE PLOTTED
DATE
VALUE
CHART 8.. INTEREST ARBITRAGE, 3-MCNTH FUNDS
EURO-DOLLAR DEPOSIT
INTERBANK STERLING (LONDON) , COVERED
DIFFERENTIAL
DEC,
DEC.
DEC.
14
14
14
10. 17
10.26
-0.08
U.S. COMMERCIAL PAPER
CANADIAN FINANCE PAPER, CCVERED
DIFFERENTIAL
DEC. 14
DEC. 14
DEC. 14
9.51
10.28
-0.77
EURC-DCLLAR DEPOSIT
INTERBANK DM (FRANKFURT), COVERED
DIFFERENTIAL
DEC.
DEC,
DEC.
14
14
14
10. 17
10.34
-0.17
EURC-DOLLAfi DEPOSIT
SWISS INTERBANK, COVERED
DIFFERENTIAL
DEC. 14
DEC. 14
DEC. 14
10. 17
10.27
-0.09
DEC.
9
DEC.
2
OCT.
NOV. 25
DEC.
2
SEPT. 30
AUG,
DEC,
9
11.82
8. 19
7.22
4.62
11.80
14.05
9.03
9.82
NOV,
SEPT.
12.41
10.23
CHART 9. LONG TERM GOVERMENT BOND YIELDS
UNITED STATES
GERMANY
JAPAN (MONTHLY)
SWITZERLAND
CANADA
FRANCE
NETHERLANDS (MONTHLY)
UNITED KINGDOM
. CORPORATE
AAA BONDS
EURC-DOLLAR BONDS
CHART
10,
STOCK INDICES
UNITED STATES
UNITED KINGDOM
CANADA
GERMANY
SWITZERLAND
NETHERLANDS
FRANCE
JAPAN
DEC.
DEC.
DEC.
DEC.
DEC.
DEC.
DEC,
DEC.
7
7
7
7
7
7
7
7
172.61
165.68
252.48
148.47
124.46
144.97
151.34
185.04
@FedFRASER