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(5 1 6 / 5 1 7 ) Selected Interest &. Exchange Rates W eekly Series o f Charts December 22,1980 DIVISION OF INTERNATIO NAL 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 FIGURES PLO TTED 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-HMO RELEASE States, its possessions, Canada, and Mexico; 10 or CHARTS 1. SPOT EXCHANGE RATE HVIDICES 2. 3-M ONTH FORW ARD EXCHANGE RATES 3. GOLD PR1CE--LONDON 4. C ALL M O NEY RATES 5. 3-M O N TH INTEREST RATES 6. EURO D O LLA R DEPOSIT RATES 7. SELECTED EURO D O LLAR AND U.S. MO NEY M A RK ET RATES 8. INTEREST ARB ITRA G E: 3-M ONTH FUNDS 9. LONG-TERM G O VER N M EN T BOND Y IE L D S 10. IN D U S T R IA L STOCK INDICES 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 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 : iC A L E R A T IO 1973=100 MARCH SCALE t 9 7?3=100 120 120 100 100 80 60 FOREIGN CURRENCY PRICE OF U.S. DOLLAR 80 60 180 160 140 120 100 120 100 160 140 80 240 200 120 160 100 80 120 160 160 140 140 120 120 100 100 100 100 80 80 60 60 CHART 2 3-M O NTH FORWARD EXCHANGE RATES PREMIUM (+) OR ( - ) AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER ANNUM PERCENT PER ANNUM 24 1 2 18 1 2 CHART 3 PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY U .S . D O L L A R S P E R F IN E O U N C E U.S. D L L A R S P E R F IN E O U N C E 800 800 75Q 750 700 700 650 650 600 600 550 550 500 500 450 450 400 400 350 350 300 300 250 250 200 200 150 150 100 100 1977 1978 1979 1980 CHART 4 CALL MONEY RATES WEEKLY SERIES 20 20 16 16 12 12 8 8 4 4 16 20 12 16 8 12 8 4 0 12 4 0 12 8 4 8 + 0 4 0 4 1978 1980 1978 1980 CHART 5 3-MONTH INTEREST RATES WEEKLY SERIES :n t per PER C EN T PER At annum 20 20 16 16 12 1 2 8 8 4 4 18 14 14 10 10 6 6 16 2 12 12 8 LOANS AND DISCOUNTS JAPANESE BANK 8 4 4 0 1978 1980 1978 1980 CHART 6 EURO-DOLLAR DEPOSIT RATES Lo ndo n AVERAGES FOR WEEK ENDING WEDNESDAY 24 24 20 20 16 16 12 12 6 8 4 4 24 24 20 20 16 16 12 12 8 8 4 4 24 24 20 20 16 16 1 2 12 8 8 4 4 1978 1980 1978 1980 CHAP"- 7 SELECTED EURO-DOLLAR AND U. S- MONEY MARKET RATES Io+ DIFFERENTIAL: PLUS(+), FAVORS BORROWING IN U. S. AVERAGES FOR WEEK ENDING WEDNESDAY 1978 1 PE R C EN T ON D IF F E R E N T IA L S C A LE = 2 PERCENT ON RATE S C A LE 1980 1978 1980 CHART 8 INTEREST ARBITRAGE: 3-MONTH FUNDS DIFFERENTIAL: PLUS(+), INDICATES FAVOR DOLLAR ASSETS AVERAGES FOR WEEK ENDING WEDNESDAY 1 PERC ENT ON D IF F E R E N T IA L S C A LE = 2 PERCENT ON RATE S C A LE CHART 9 LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES ENT PER A N N U M P E R C E N T P E R Al 14 15 12 13 10 1 1 8 9 6 10 7 7 GERMANY 8 r \ y 5 - 6 4 3 l I l ......I ,l....I . _ n liiliil.ii 1 I i l. M 111111 16 17 14 15 12 13 10 1 1 8 9 6 7 14 13 12 1 1 10 9 8 7 6 5 1978 1980 1978 1980 CHART 10 INDUSTRIAL STOCK INDICES WEEKLY SERIES RATIO 1969= 140 120 100 RATIO S CALE 1969=100 80 400 100 360 90 320 80 280 70 240 60 200 50 140 140 CANADA 120 DISCONTINUED SERIES 120 100 100 80 80 160 140 120 100 80 1978 1980 1978 1980 LAST VALUE PLOTTED DATE VALUE SERIES NAME CHART 1. SPOT EXCHANGE RATES AND INDICES WEEKLY AVERAGES, NOON BUYING RATES (U.S. CENTS) GERMAN MARK JAPANESE YEN DUTCH GUILDER U.K. POUND C ANADIAN DOLLAR FRENCH FRANC SWISS FRANC BELGIAN FRANC ITALIAN LIRA INDICES, DEC. 17 DEC. 17 DEC. 17 DEC. 17 DEC. 17 DEC. 17 DEC. 17 DEC. 17 DEC. 17 49.94 0.47710 45.94 232.09 82.93 21.57 55.03 3.10151 0.10535 DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. 17 17 17 17 17 17 17 17 17 140.49 124.92 131.89 93.87 82.66 97.19 177.04 122.21 59.85 17 17 17 17 T7 17 17 17 17 17 17 92.15 139.05 119.38 125.52 86.87 75.99 90.17 168.45 115.43 53.69 92.97 17 17 17 17 17 17 17 17 3..69 6..85 11..16 9..14 14..36 11..41 11..20 1..64 MARCH 1973 BASE RATES = 100 GERMAN MARK JAPAN ESE YEN DUT C H GUILDER U.K. POUND CANAD IAN 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 CANAD IAN DOLLAR FRENCH FRANC SWISS FRANC BELGIAN FRANC ITALIAN LIRA SWEDISH KRONA MAR 1973 = 100 DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. ART 2. 3 -MONTH FORWARD EXCHANGE RATES, PREMIUM OR DISCOUNT C ANADIAN DOLLAR U.K. POUND GERMAN MARK FRENCH FRANC SWISS FRANC D U TCH GUILDER J APANESE YEN ITALIAN LIRA DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. LAST VALUE PLOTT DATE VALUE SERIES NAME CHART 3. GOLD PRICE IN LONDON, AFTERNOON FIXING U.S. DOLLARS PER FINE OUNCE DEC. 17 567.25 DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. OCT. DEC. 17 17 12 5 12 12 12 12 3 12 19.83 20.16 13.25 12.80 9.00 9 . IQ 9.56 10.81 9.55 2.70 DEC. 17 DEC. 17 DEC. 17 DEC. 17 DEC. 17 DEC. 17 DEC. 17 20.58 10.33 9.63 17.20 14.58 6.80 11.92 DEC. DEC. DEC. DEC. DEC. DEC. 17 17 17 17 17 17 20.16 20.4 7 22.54 21.36 19.31 16.76 CHART 4. CALL MONEY RATES U.S. FED E R A L FUNDS O V ERNIGHT EURO-DOLLAR DEPOSITS U.K. 2-DAY LOCAL AUTHORITY DEPOSITS CANADA GERMANY EURO-DM JAPAN FRA NCE NETHERLANDS E U R O - S W I S S FRANC CHART 5. 3 -MONTH I NTEREST RATES U.S. 90-DAY CD'S, SECONDARY MARKET GERMAN INTERBANK LOAN JAP A N E S E BANK LOANS & DISCOUNTS C A N A D I A N FINANCE PAPER I N TERBANK STERLING SWISS INTERBANK LOAN WEIG H T E D AVERAGE FOREIGN INTEREST R A T E (G-10 COUNTRIES PLUS SWITZERLAND) CHART 6. EURO-DOLLAR DEPOSIT RATES. LONDON OVERNIGHT 7-DAY 1-MONTH 3-MONTH 6-MONTH 1-YEAR CHA RT 7. SELECTED EURO-DOLLAR AND U.S. MONEY MARKET RATES OVE R N I G H T EURO-DOLLAR DEPOSITS U.S. FEDERAL FUNDS DIFFERENTIAL ADJ. FOR RESERVE REQUIREMENTS DEC. DEC. DEC. 17 17 17 20.16 19.83 0.33 3-MONTH EURO-DOLLAR DEPOSIT RATE U.S. 90-DAY CD'S, SECONDARY MARKET DIFFERENTIAL DEC. DEC. DEC. 17 17 17 21.36 20.58 0.78 SERIES NAME CRAFT 8. INTEREST ARBITRAGE, LAST VALUE PLOTTED DATE VALUE 3-MONTH FUNDS EURO-DOLLAR DEPOSIT INT E R B A N K STERLING (LONDON), COVERED DIFFERENTIAL DEC. DEC. DEC. 17 17 17 21..36 21..68 -0..31 U.S. COMMERCIAL PAPER CANADIAN FINANCE PAPER, COVERED DIFFERENTIAL DEC. DEC. DEC. 17 17 17 19..74 21..05 -1..31 EURO-DOLLAR DEPOSIT INTERBANK DM (FRANKFURT) , COVERED DIFFERENTIAL DEC. DEC. DEC. 17 17 17 21..36 21.78 -0..41 EURO-DOLLAR DEPOSIT SffISS INTERBANK, COVERED DIFFERENTIAL DEC. DEC. DEC. 17 17 17 21..36 21..41 -0..05 DEC. 12 5 DEC. NOV. NOV. 28 DEC. 5 SEPT. 12 OCT. 3 DEC. 12 13.19 8.79 9.52 4.68 13.04 13.43 10.09 11.67 CHART 9. LONG TERM GOVERMENT BOND YIELDS UNITED STATES GERMANY JAPAN (MONTHLY) SWITZERLAND CANADA FRANCE NETHERLANDS UNITED KINGDOM U.S. C O R P O R A T E AAA BONDS EURC-DM BONDS E U R O -DOLLAR BONDS OCT. DEC. OCT. 12.31 6.63 11.27 CHART 10. INDUSTRIAL STOCK INDICES UNITED STATES JAPAN FRANCE UNITED KINGDOM SWITZERLAND GERMANY DEC. 12 DEC. 12 NOV. 28 DEC. 12 DEC. 12 5 DEC. 136..50 323..91 158..50 111..63 73..99 94..89
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