Full text of H.13 Selected Interest and Exchange Rates, Weekly Series of Charts : December 3, 1979

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Selected Interest &
Exchange Rates
Weekly Series of Charts

December 3 , 1 9 7 9
Prepared by the
F I N A N C I A L MARKETS
SECTION




DIVISION OF
INTERNATIONAL FINANCE
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 Reserve 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 1973=100

RATIO SCALE
MARCH 1973=100

FOREIGN CURRENCY
PRICE OF U.S. DOLLAR

CANADIAN DOLLAR

GERMAN MARK

FRENCH FRANC

100
160
140

240
aA

—

e

JAPANESE YEN
120

—

100

-

A

—

Jp—\

SWISS FRANC

/

-

#

I I

I

I

I I

, , i , , I

I

M

I , ;

DUTCH GUILDER

-

100

-

-

160

-

140

ill,, h i l i i

120

_y-</

^VpTTTI
—

120

I

V -

80

200

Ml W v

I I i I I I I I I I I

-

BELGIAN FRANC

—

/V~

160
140

120

-

100
i i l i i l i i l i i

M i n i

r

100

100
ITALIAN LIRA
U.K. POUND

80

-

80

I

#

60
I

I

I




I

I
1977

I

l l l l l l l l l l l

l l l l l l l l l l l
1979

1977

1979

CHART 2

3-MONTH FORWARD EXCHANGE RATES
PREMIUM ( * ) OR ( - )
AVERAGES FOR WEEK ENDING WEDNESDAY
PER CENT PER ANNUM

PER CENT PER ANNUM

6

——

—

CANADIAN DOLLAR

ITALIAN LIRA

-

-

-

T

I

M

I

I

I

J

~

Ml,,I,,In

24
I

T

i

U. K. POUND

l

DUTCH GUILDER

—

12

l

—

18

—

GERMAN MARK
SWISS FRANC
6

vi

N

-

12

+
0
-

I

I I I M

I

i i

i

FRENCH FRANC

n

i

JAPANESE YEN

\




I

12

I

—

-

I
1977

1979

I

I

I

I
1977

I
1979

CHART 3

10/19/7!

PRICE OF GOLD IN LONDON
AVERAGES

FOR

WEEK

ENDING

WEDNESDAY

)LLARS PER FINE OUNCE

U.S. DOLLARS PER FINE OUNCE
450

400

350

12.5 Kg BARS
AFTERNOON FIXING PRICE

300

250

200

150

100
1976




1977

1978

1979

CHART 4

CALL MONEY RATES
WEEKLY SERIES
PER CENT PER ANNUM

PER CENT PER ANNUM

18

18

12

OVERNIGHT EURO-DOLLARS

JAPAN

—

—

__

I I
U.S. FEDERAL FUNDS
I l l l l l l l l l l

j

-

I
I

12

U.K. 2 - D A Y LOCAL
AUTHORITY
NETHERLANDS

-

I

I

I

I

I

I

1

12

FRANCE
CANADA

^
I

I I

.
I

I I

<

p / v

.JF*

"

H

/
iiiiiiiiiii

i

—

r i

EURO-SWISS FRANC
GERMANY

-

! |

EURO-DM

I

I I




I

I I
1977

iiiniiihi iiiiiiiiiii
1979

1977

1979

4

CHART 5

3-MONTH INTEREST RATES
WEEKLY SERIES
ENT PER ANNUM

PER CENT PER M

18

U.K. INTERBANK STERLING
14

U.S.

CD S

10

6
WEIGHTED AVERAGE
FOREIGN RATE

2
10

J -

GERMAN INTERBANK RATE

-

JAPANESE BANK
LOANS AND DISCOUNTS

6

v
I

I I

I

-

I I

2

SWISS INTERBANK RATE
4
CANADIAN FINANCE CO. PAPER




t/xV^/ s v t , /
I
1977

1979

I

I

I

I
1977

I
1979

+

0

CHART 6

EURO-DOLLAR DEPOSIT RATES

LONDON

AVERAGES FOR WEEK ENDING WEDNESDAY
PER CENT PER ANNUI

PER CENT PER ANNUM

16




OVERNIGHT

3-MONTH

7-DAY

6-MONTH

1-MONTH

1-YEAR

1977

1979

1977

1979

CHART 7

SELECTED EURO-DOLLAR AND U. S. MONEY MARKET RATES
AVERAGES FOR WEEK ENDING WEDNESDAY
PER CENT PER ANNUM

PER CENT PER ANNUM

16

16

-

14

12

OVERNIGHT
EURO-DOLLAR DEPOSITS

-

10

-

8

I I I I I I I I I I I

4

3-MONTH
EURO-DOLLAR DEPOSITS

/V-

FEDERAL FUNDS

/

DASHED LINE

I

I

I

f

I I I I I I I I I I I I

I

90-DAY CD'S
DASHED LINE

I I I I I I I I I I

I I I I I I I

2
DIFFERENTIAL
DIFFERENTIAL

ADJUSTED FOR RESERVE REQUIREMENTS

W
A V V V V A A /

I I I I I I I I I I
1977

1979

FAVORS BORROWING IN U. S. IF POSITIVE




y

I

I

I

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I

I
1977

I

i i I i i I i i I i i

11111111111
1979

CHART 8

INTEREST ARBITRAGE: 3-MONTH FUNDS
DIFFERENTIAL: PLUS(+), INDICATES FAVOR DOLLAR ASSETS
AVERAGES FOR WEEK ENDING WEDNESDAY
PER CENT PER ANNUM

PER CENT PER ANNUM

20




18

EURO-DOLLAR DEPOSITS
CANADIAN FINANCE
CO. PAPER, COVERED

7A/

—

INTERBANK STERLING
COVERED LONDON

/

DIFFERENTIAL

IV

U.S. COMMERCIAL PAPER

A.

AAi A

DIFFERENTIAL

i

i

-

i

I

I

I

*

n l i i h i h i

M

|

M

1111

18

16

14

SWISS INTERBANK (SF) COVERED

12

INTERBANK DM
COVERED FRANKFURT

10

r-Vrv'N
EURO-DOLLAR DEPOSITS

EURO-DOLLAR DEPOSITS
DASHED LINE

DIFFERENTIAL
DIFFERENTIAL

1977

1979

1977

1979

CHART 9

LONG-TERM GOVERNMENT BOND YIELDS
WEEKLY SERIES
PER CENT PER ANNUM

PER CENT PER ANNUM

13

12
UNITED STATES
—

10

—

/-

-

11
CANADA

—

8

-

—

i

6

i

i

iI

I

I

I

I I I I I I I I I I I

I

u l i i h i l l i

l

l

,, | | , | | , I n

10

/-

8

6

*

GERMANY

J

-

-

" N

—

—

4

SWITZERLAND

—

I

I

!

I

I

I

l l l l l l l l h l

i i h . l n l n

—

i

i

i

I

I

I

13
FRANCE
-

UNITED KINGDOM

—

11

J \

-

J|

/-

NETHERLANDS

I

I I
U. S.

11

I

I I

CORPORATE

nliihilii

MONTHLY

MONTHLY

Aaa BONDS

JAPAN
EURO-DOLLAR

I

I

BONDS

I




1977

1979

1977

1979

CHART 10

INDUSTRIAL STOCK INDICES
WEEKLY SERIES
RATIO SCALE
1969=100

RATIO SCALE
1969=100

140

200
UNITED STATES

120
A A
I
^ v W V V /

(A

_

100

I

160

-

120

UNITED KINGDOM

80
I

-

I

100

JAPAN

140

-

80

-

60

—

100

CANADA
120

DISCONTINUED SERIES

—

-

SWITZE:RLAND
Y—N

-

/ ^ \ -

80

100
A

a

v

60

80

-

I

I

I

I

I

1

I

1

1

1

1

1

ILLLLLLLLLL

50

170

170

150

150

130

FRANCE
A.
GENERAL INDEX J W

130
GERMANY

110

110

90

-

90

-

«
70

I

I




I

1

1
1977

1

1
1979

1

1

1

1
1977

1

70
1979

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
CANADIAN DOLLAR
FRENCH FRANC
SWISS FRANC
BELGIAN FRANC
I T A L I A N LIRA

NOV.
NOV.
NOV.
NOV.
NOV.
NOV.
NOV.
NOV.
NOV.

28
28
28
28
28
28
28
28
28

57..09
0.,40070
51..10
216. .40
85..24
24..29
60..68
3..50632
0..12163

NOV.
NOV.
NOV.
NOV.
NOV.
NOV.
NOV.
NOV.
NOV.

28
28
28
28
28
28
28
28
28

160..60
104..92
146..70
87..53
84..96
109..47
195..22
138,,17
69..09

28
28
28
28
28
28
28
28
28
28
28

87.. 7 1
155..77
94..01
134..92
77..03
75..06
98..59
178..97
126..07
60..11
94..90

28
28
28
28
28
28
28
28

0.27
-2.52
4.88
0.18
9.70
1.22
5.81
-2.21

INDICES, MARCH 1973 BASE RATES = 100
GERMAN MARK
JAPANESE YEN
DUTCH GUILDER
U . K . POUND
CANADIAN DOLLAR
FRENCH FRANC
SWISS FRANC
BELGIAN FRANC
I T A L I A N LIRA

WEIGHTED AVERAGE EXCHANGE VALUE INDICES, MAR 1973 = 100
(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
I T A L I A N LIRA
SWEDISH KRONA
CHART 2 . 3-MONTH FORWARD EXCHANGE
CANADIAN DOLLAR
U . K . POUND
GERMAN MARK
FRENCH FRANC
SWISS FRANC
DUTCH GUILDER
JAPANESE YEN
I T A L I A N LIRA




NOV.
NOV.
NOV.
NOV.
NOV.
NOV.
NOV.
NOV.
NOV.
NOV.
NOV.
,

PREMIUM OR DISCOUNT
NOV.
NOV.
NOV.
NOV.
NOV.
NOV.
NOV.
NOV.

LAST VALUE PLOTTED
DATE
VALUE

SERIES NAME
CHART 3 .

GOLD PRICE IN LONDON, AFTERNOON FIXING

U . S . DOLLARS PER FINE OUNCE
CHART 4 .

NOV. 28

397.07

CALL MONEY RATES

U . S . FEDERAL FUNDS
OVERNIGHT EURO-DOLLAR DEPOSITS
U . K . 2-DAY LOCAL AUTHORITY DEPOSITS
CANADA
GERMANY
EURO-DM
JAPAN
FRANCE
NETHERLANDS
EURO-SWISS FRANC

NOV.
NOV.
NOV.
NOV.
NOV.
NOV.
NOV.
NOV.
NOV.
NOV.

28
28
23
16
23
23
23
23
2
23

12.13
7.90
7.98
7.69
12.00
8.50
2.25

NOV.
NOV.
NOV.
NOV.
NOV.
NOV.
NOV.

28
28
28
28
28
28
28

13.14
9.48
8.25
13.87
16.91
4.10
11.17

NOV.
NOV.
NOV.
NOV.
NOV.
NOV.

28
28
28
28
28
28

11.96
12.43
13.40
14.21
14.14
13.01

OVERNIGHT EURO-DOLLAR DEPOSITS
U . S . FEDERAL FUNDS
DIFFERENTIAL ADJ. FOR RESERVE REQUIREMENTS

NOV. 28
NOV. 28
NOV. 28

11.96
12.46
-0.50

3-MONTH EURO-DOLLAR DEPOSIT RATE
U . S . 90-DAY C D ' S , SECONDARY MARKET
DIFFERENTIAL

NOV. 28
NOV. 28
NOV. 28

14.21
13.14
1.07

12.46
11.96

16.88

CHART 5 . 3-MONTH INTEREST RATES
U . S . 90-DAY C D ' S , SECONDARY MARKET
GERMAN INTERBANK LOAN
JAPANESE BANK LOANS & DISCOUNTS
CANADIAN FINANCE PAPER
INTERBANK STERLING
SWISS INTERBANK LOAN
WEIGHTED AVERAGE FOREIGN INTEREST RATE
( G - 1 0 COUNTRIES PLUS SWITZERLAND)
CHART 6 .

EURO-DOLLAR DEPOSIT RATES: LONDON

OVERNIGHT
7-DAY
1-MONTH
3-MONTH
6-MONTH
1-YEAR

CHART 7 .

SELECTED EURO-DOLLAR AND U . S . MONEY MARKET RATES




SERIES NAME
CHART 3 .

LAST VALUE PLOTTED
DATE
VALUE

INTEREST ARBITRAGE, 3-MONTH FUNDS

EURO-DOLLAR DEPOSIT
INTERBANK STERLING (LONDON), COVERED
DIFFERENTIAL

NOV. 28
NOV. 28
NOV. 28

14.21
14.28
-0.07

U . S . COMMERCIAL PAPER
CANADIAN FINANCE PAPER, COVERED
DIFFERENTIAL

NOV. 28
NOV. 28
NOV. 28

12.90
14.15
-1.26

EURO-DOLLAR DEPOSIT
INTERBANK DM (FRANKFURT), COVERED
DIFFERENTIAL

NOV. 28
NOV. 28
NOV. 28

14.21
14.48
-0.26

EURO-DOLLAR DEPOSIT
SWISS INTERBANK, COVERED
DIFFERENTIAL

NOV. 28
NOV. 28
NOV. 28

14.21
13.90
0.31

23
16

10.71
8.18
8.41
3.26
11.16
11.65
9.03
10.42

CHART 9 .

LONG TERM GOVERMENT BOND YIELDS

UNITED STATES
GERMANY
JAPAN (MONTHLY)
SWITZERLAND
CANADA
FRANCE
NETHERLANDS
UNITED KINGDOM

NOV.
NOV.
OCT.
NOV.
NOV.
SEPT.
NOV.
NOV.

16
16
14
2
23

U . S . CORPORATE
AAA BONDS
EURO-DM BONDS
EURO-DOLLAR BONDS
CHART 1 0 .

OCT.
DEC.
SEPT.

10.13
6.63
9.27

INDUSTRIAL STOCK INDICES

UNITED STATES
JAPAN
CANADA
FRANCE
UNITED KINGDOM
SWITZERLAND
GERMANY

e



NOV.
NOV.
DEC.
NOV.
NOV.
NOV.
NOV.

23
23
29
2
16
23
16

108.95
292.68
113.81
143.70
97.33
75.12
93.84

#
FEDERAL RESERVE statistical release
H.10(512)

DECEMBER

FOREIGN EXCHANGE RATES
FOR THE WEEK ENDING

NOVEMBER 3 0 ,

4,

1979

1979

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




MONETARY
UNIT
DOLLAR
SCHILLING
FRANC
DOLLAR
KRONE
MARKKA
FRANC
D . MARK
RUPEE
POUND
LIRA
YEN
DOLLAR
,PES0
GUILDER
DOLLAR
KRONE
ESCUDO
RAND
PESETA
RUPEE
KRONA
FRANC
POUND

(RA1FE U . S . CENTS!
NOV. 28

NOV. 26

NOV. 27

109.0200
7.91766
3.50508
85.3534
19.2901
26.5745
24.3203
57.1690
12.3500
210.4000
0.12158
0.39864
45.7247
4.3764
51.0986
96.8000
20.0160
1.9900
120.2000
1.5069
6.4300
23.7897
60.5144
216.1000

109.2800
7.93651
3.51000
85.3752
19.2363
26.6667
24.3368
57.1592
12.2600
211.0000
0.12158
0.40088
45.7247
. 4.3764
51.1771
97.1500
20.0180
2.0000
120.2000
1.5072
6.4300
23.8407
60.5877
216.0000

109.2300
7 . 96020
3.51247
85.2297
19.2456
26.6667
24.3220
57.2410
12.2600
211.0000
0.12184
0.40169
45.6725
4.3725
51.2689
97.1500
19.9680
1.9980
120.2000
1.5067
6.4300
23.8322
61.1060
217.4000

NOV. 2 9

NOV. 30

109.3500
7.95545
3.52361
85.4774
19.2548
26.6880
24.4481
57.4548
12.3400
211.9000
0.12190
0.40185
45.8295
4.3725
51.6529
97.3500
20.1045
1.9992
120.2000
1.5072
6.4300
23.8692
61.6523
218.2000

109.4200
8.01925
3.54988
85.4263
18.7056
26.8168
24.6063
57.8035
12.4500
213.0500
0.12265
0.40072
45.6204
4.3725
51.9481
97.6500
20.0924
2.0060
120.2000
1.5053
6.4300
23.9234
62.5782
219.9000