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(516/517) Selected Interest & Exchange Rates Weekly Series of Charts December 21,1981 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 ReservS 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 SCALE MARCH 1 9 7 3 = 1 0 0 120 120 - - ~ UK. POUND 100 100 / - 80 - 80 FOREIGN CURRENCY PRICE OF U.S. DOLLAR l l h l l I ~ I I I I I GERMAN MARK I I - 90 - 70 — | 240 - 200 FRENCH FRANC — JAPANESE YEN - r*J\S V J!\ vx. t V 7 r 160 SWISS FRANC — i I I I I I 140 I I I I I I I |I|I|III| | | I120 | I I — - — 160 BELGIAN FRANC — ^ A — 140 120 DUTCH GUILDER 100 II I I I I I i l l I , , 1 ^ 7 100 80 60 ITALIAN LIRA - — — , I i v I I 1979 1981 I I I I 1979 - 80 - 60 X \ CANADIAN DOLLAR 40 100 — I 40 1981 i |>! .i ; f.'i » i CHART 2 3-MONTH FORWARD EXCHANGE RATES PREMIUM (4) OR M AVERAGES FOR WEEK ENDING WEDNESDAY PE! :ENT PER ANNUM PERCENT PER A# 6 24 CANADIAN DOLLAR - ITALIAN LIRA —- - 4 0 + 0 vV ~ 6 I I I I JlJlllllllI i i l i i l i i l n I I I I I I 24 lllllllllll 12 6 U. K. POUND DUTCH GUILDER 4 0 6 6 0 12 6 4 18 12 GERMAN MARK SWISS FRANC — — 12 6 \ h A ~ 6 0 I I I 0 12 12 \ FRENCH FRANC JAPANESE YEN 6 i ri \ \~ 6 • 0 4 0 6 6 I 12 1979 1981 I I I I 1979 I llllllll|ll iiliiliiln 1981 CHART 3 PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY U.S. D PER FINE OUNCE U.S. DOLLARS PER FINE 800 800 750 750 700 700 650 650 600 600 550 550 500 500 12.5 Kg BARS AFTERNOON FIXING PRICE 450 450 400 400 350 350 300 300 250 250 200 200 150 150 00 100 1978 1979 1980 1981 CHART 4 CALL MONEY RATES WEEKLY SERIES NUM 28 28 24 24 20 U, S. FEDERAL FUNDS U. K. 2-DAV 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 5 24 24 20 20 16 FRANCE 16 GERMANY 12 12 8 8 4 JAPAN 4 0 0 1979 1981 CHART 5 3-MONTH INTEREST RATES WEEKLY SERIES :NT PER ANNUM PERCENT PER Ah 20 20 U.S. CD'S 16 10 12 12 U.K. INTERBANK STERLING 8 8 WEIGHTED AVERAGE FOREIGN RATE 4 4 26 20 22 16 GERMAN INTERBANK RATE CANADIAN FINANCE CO. PAPER 18 12 14 8 10 4 iiliiliiI 6 0 12 16 JAPANESE BANK LOANS AND DISCOUNTS SWISS INTERBANK RATE 12 8 8 4 I!lilllI III 4 1979 1981 0 1979 1981 CHART 6 EURO-DOLLAR DEPOSIT RATES LONDON AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER AL ENT PER ANNUM 24 20 24 OVERNIGHT 3-MONTH 20 16 16 12 12 6 8 4 4 24 24 7-DAY 20 6-MONTH 20 16 16 12 12 8 8 4 4 24 24 1-MONTH 20 1-YEAR 20 16 16 12 12 8 8 4 4 1979 1981 1979 1961 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 - 13 — 14 MONTH DOLLAR DEPOSITS 10 DAY CD OVERNIGHT E U R O - D O L L A R DEPOSITS 6 3 DIFFERENTIAL DIFFERENTIAL — A ^ V v A / ^ — ^ \aa A r v V H v V - v W 2 1 0 1 2 3 1i I M 1 1 1 I I 1981 1979 1 P E R C E N T ON D I F F E R E N T I A L S C A L E = 2 P E R C E N T ON RATE S C A L E . 1 1 1 II 1 1 1 ! !I ! I I M 1979 1961 I I I I I4 I 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 CANADIAN FINANCE CO. PAPER, COVERED EURO-DOLLAR DEPOSITS INTERBANK STERLING U. S. COMMERCIAL PAPER COVERED LONDON DIFFERENTIAL DIFFERENTIAL — - 0 — — AJ V y- I y * iilii hill i " i l l u z v w / Ml I Nil III" INTERBANK DM COVERED FRANKFURT SWISS INTERBANK (SF) COVERED EURO-DOLLAR DEPOSITS EURO-DOLLAR DEPOSITS U DIFFERENTIAL 1 1 1 1 1 1 1 1979 DIFFERENTIAL lllll 1981 1 PERCENT ON DIFFERENTIAL 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 ENT PER ANNUM PERCENT PER AL 19 U.S. CORPORATE 19 MONTHLY 17 17 15 15 UNITED STATES Aaa BONDS 13 13 11 11 9 9 EURO-DOLLAR BONDS 7 7 12 9 SWITZERLAND 10 7 8 5 GERMANY 6 3 4 1 13 15 MONTHLY UNITED KINGDOM JAPAN 11 13 9 11 7 9 5 7 19 18 16 17 FRANCE 14 15 CANADA 13 12 11 10 9 8 NETHERLANDS 6 7 1979 1981 1979 1981 CHART 10 INDUSTRIAL STOCK INDICES WEEKLY SERIES RATIO SCALE 19 6 9 =100 RATIO SCALE 1969=100 180 180 160 — 140 — — UNITED STATES 120 - 100 - JAPAN jy A Jt\j VVNyVx A — v - / W/ — rJ ~ I I I 120 - 100 I I I lllllllllll lllllllllll 80 140 120 100 UNITED KINGDOM 80 SWITZERLAND III I 60 140 120 100 FRANCE 80 GERMANY 60 140 120 - 100 - 80 - y v \\ - lYvw - \ - J\f CANADA NETHERLANDS 60 45 1 1 1 I I 1979 I I IIIIIIIIII 1981 140 - — | | | 80 160 — 1979 1981 LAST V A L U E P L O T T E D DATE VALUE SERIES NAME C H A R T 1. SPOT E X C H A N G E R A T E S A N D I N D I C E S WEEKLY A V E R A G E S , NOON BUYING R A T E S (U.S. CENTS) 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. POUND CANADIAN DOLLAR FRENCH FRANC SWISS F R A N C BELGIAN FRANC ITALIAN LIRA INDICES, M A R C H DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. 16 16 16 16 16 16 16 16 16 44.08 0.45686 40.,29 188..16 83..93 17..39 54.,35 2.,60556 0.08254 DEC. DEC. DEC. DEC. DEC. DEC. DEC. DECDEC. 16 16 16 16 16 16 16 16 16 124.,00 119.,62 115.,66 76., 10 83.,65 78. 37 174. 85 10 2. 67 46. 89 1973 B A S E R A T E S = 100 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 FRANC BELGIAN FRANC I T A L I A N LIRA W E I G H T E D A V E R A G E E X C H A N G E VALUE I N D I C E S , MAR 1973 = 100 (G-10 C O U N T R I E S PLUS S W I T Z E R L A N D ) U.S. DOLLAR 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 F R A N C SWISS F R A N C BELGIAN FEANC I T A L I A N 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 CANADIAN DOLLAR U.K. P O U N D G E R M A N MARK FRENCH F R A N C 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 LIRA DEC. 16 DEC. 16 DEC. 16 DEC. 16 DEC. 16 DEC. 16 DEC. 16 DEC. 16 DEC. 16 DEC. 16 DEC. 16 105. 76 136.,35 128.,40 122.47 77..67 86..52 80..04 185..93 107.,70 46.,40 82..62 DISCOUNT DEC. 16 DEC. 16 DEC. 16 DEC. 16 DEC. 16 DEC. 16 DEC. 16 DEC. 16 - 3 . 29 -1.90 2.,67 -3.88 3..60 2.23 6.41 -10,, 14 SERIES NAME L A S T V A L U E PLOTTED DATE VALUE CHART 3. GOLD P R I C E IN L O N D O N , A F T E R N O O N FIXING U.S. D O L L A R S PER F I N E OUNCE DEC. 16 412.55 DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. SEPT. DEC. 16 16 11 4 11 4 11 11 4 4 12.,26 12.,00 14. 75 19.,71 10.,50 10.,41 6.,31 15. 50 13.,70 4.,85 DECDEC. DEC. DEC. DEC. DEC. DEC. 16 16 16 16 16 16 16 12.54 10.66 6.79 16.45 15.35 9.70 12.42 DEC. 16 DEC. 16 DEC. 16 DEC. 16 DEC. 16 DEC. 16 12.00 12.19 13.08 13.38 14.06 14. 16 CHART 4. CALL MONEY R A T E S U.S. F E D E R A L F U N D S OVERNIGHT EURO-DOLLAR DEPOSITS U.K. 2-DAY L O C A L AUTHORITY D E P O S I T S 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 CD'S, SECONDARY M A R K E T 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 L O A N S 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 SWISS I N T E R B A N K L O A N 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 ) CHART b. E U R O - D O L L A R D E P O S I T R A T E S : LONDON OVERNIGHT 7-DAY 1-MONTH 3-MONTH 6-MONTH 1-YEAR CHART 7. 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 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. 16 DEC. 16 DEC. 16 12. 00 12. 26 - 0 . 26 3 - M O N T H E U R O - D O L L A R DEPOSIT R A T E U.S. 9 0 - D A Y C D ' S , SECONDARY M A R K E T DIFFERENTIAL DEC. 16 DEC. 16 DEC. 16 13. 38 12. 54 0. 84 4 SERIES N A M E LAST V A L U E PLOTTED DATE VALUE CHART 8. I N T E R E S T A R B I T R A G E , 3 - M O N T H F U N D S EURO-DOLLAR DEPOSIT 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. 16 DEC. 16 DEC. 16 13.,38 13.38 - 0 ..00 U.S. C O M M E R C I A L PAPER C A N A D I A N F I N A N C E PAPER, C O V E R E D DIFFERENTIAL DEC. DEC. DEC. 16 16 16 12.20 13.,02 -0.82 EURO-DOLLAR DEPOSIT I N T E R B A N K DM (FRANKFURT), C O V E R E D DIFFERENTIAL DEC. DEC. DEC. 16 16 16 13.,38 13..40 -0.,02 EURO-DOLLAR DEPOSIT SWISS I N T E R B A N K , C O V E R E D DIFFERENTIAL DEC. 16 DEC. 16 DEC. 16 13.38 13..39 - 0 .,02 DEC. 11 4 DEC. SEPT. NOV. 13 4 DEC. O C T . 16 4 SEPT. 4 DEC. 13.,39 9.60 9.,03 5.73 14.,52 17.,07 11.98 12.,64 SEPT. SEPT. 16.92 13.36 CHART 9. LONG TERM G O V E R M E N T BOND Y I E L D S UNITED S T A T E S GERMANY J A P A N (MONTHLY) SWITZERLAND CANADA FRANCE NETHERLANDS U N I T E D KINGDOM U.S. C O R P O R A T E AAA BONDS EURO-DOLLAR BONDS C H A R T 10. STOCK I N D I C E S UNITED S T A T E S UNITED K I N G D O M CANADA GERMANY SWITZERLAND NETHERLANDS FRANCE JAPAN DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. 9 9 9 9 9 9 9 9 128. 99 114. 37 193. 93 97. 79 87. 50 75. 91 92. 67 150. 57 FEDERAL RESERVE statistical release H -10(5,2) FOREIGN EXCHANGE RATES FOR THE WEEK ENDING DECEMBER DECE8BBB 2 , . .98. 18, 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 (RA1FE U.S. CENTS) DEC. 16 MONETARY UNIT DEC. 14 DEC. 15 DOLLAR SCHILLING FRANC DOLLAR KRONE MARKKA FRANC D. MARK RUPEE POUND LIRA YEN RINGGIT PESO GUILDER DOLLAR KRONE ESCUDO RAND PESETA RUPEE KRONA FRANC POUND 113.0500 6.20347 '2.57202 83.6121 13.4590 22.6040 17.3130 43.8020 10.9290 155.0000 0.08210 0.45300 44.2087 3.8506 40.0721 82.3000 17.3310 1.5094 100.5500 1.0150 4.9493 17.8492 54.1419 186.5500 113.3000 6.26566 2.64760 83-7942 13.6240 22.7738 17.4307 44.0917 10.9769 156.6000 0.08278 0.45977 44.3066 3.8476 40.2820 82.6500 17.3310 1.5198 102.5300 1.0269 4.9493 17.9775 54.5554 188.5500 113.1000 6.26174 2.64550 83-8856 13-5410 22.8310 17.3430 43.9078 10.9529 156.2500 0.08220 0.45809 44.4050 3.8432 40.1606 82.5500 17.2339 1.5221 103.2000 1.0262 4.9493 17.9533 54.7196 188.6500 DEC. 17 113.2000 6.27746 2.59740 84.0478 13.5593 22.8676 17.3611 43.9271 10.9649 156.2500 0.08237 0.45777 44.4050 3.8388 40.1123 82.5500 17.2548 1.5221 103.1800 1.0267 4.9493 17.9630 54.8546 188.6500 DEC. 18 112.9500 6.22665 2.59403 84.1468 13.4862 22.7118 17.3010 43.6300 10.9649 156.2500 0.08203 0.45662 44.3853 3.8285 39.9042 82.2700 17.1468 1.5175 103.1000 1.0194 4.9493 17.8955 54.6448 187.7500
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