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( 516/ 517^ Selected Interest 8 . Exchange Rates W eekly Series of Charts December 8, 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 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, Divi sion of Administrative Services, and make payment 2. D A IL Y C E R T IF IE D SPOT EXCHANGE RATES-H.10 RELEASE CHARTS 1. SPOT EXCHANGE RATE INDICES 2. 3-MONTH FORWARD EXCHANGE RATES 3. GOLD PRICE--LONDON 4. C ALL M O NEY RATES 5. 3-M ONTH INTEREST RATES 6. EURO-DOLLAR DEPOSIT RATES 7. SELECTED EURO-DOLLAR AND U.S. MO NEY M ARKET RATES 8. INTEREST A RBITRAG E: 3-MONTH FUNDS 9. LONG-TERM G O VER N M EN T BOND Y IE LD S 10. IN D U S T R IA L STOCK INDICES remittance payable to the order of the Board of Governors of the Federal Reserve System in a form coNectible 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 SCALE M ARCH 1973=100 R A T IO MARCH SCALE 19 7 3 = 1 0 0 120 120 100 100 80 80 60 60 180 120 160 140 100 120 80 100 240 160 140 200 120 160 100 80 120 160 160 140 140 120 120 100 100 100 100 80 80 60 60 1978 1980 1978 1980 CHART 2 3-MONTH FORWARD EXCHANGE RATES PREMIUM (+) OR ( - ) AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER ANNUM PERCENT PER ANNUM + 0 24 12 6 + 0 6 1978 1980 1978 1980 CHART 3 PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY u.s. c L L A R S P E R F IN E O U N C E U .S . D 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 12.5 Kg BARS A F T E R N O O N F IX IN G P R IC E 500 500 450 450 400 400 350 350 300 300 250 250 200 200 150 150 100 _LJL J. l-L I—L...L—I. 1..1.1 I 1977 1978 1979 1980 100 CHART 4 CALL MONEY RATES WEEKLY SERIES 20 20 16 16 12 12 8 8 4 4 16 20 12 16 12 8 8 4 0 12 4 8 0 12 4 8 + 0 4 4 0 1978 1980 1978 1980 CHART 5 3-MONTH INTEREST RATES WEEKLY SERIES :n t per P E R C E N T PER annum M 20 20 16 16 U. S. CD* S 12 12 8 8 iiliiliiliiliilnli 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 n d o n AVERAGES FOR WEEK ENDING WEDNESDAY ENT PER ANNUM P E R C E N T P E R Afv 20 20 16 16 OVERNIGHT 12 12 8 8 4 4 20 20 16 16 12 12 8 8 4 4 20 20 16 16 12 12 8 8 4 4 1978 1980 1978 1980 CHART 7 SELECTED EURO-DOLLAR AND U. S. MONEY MARKET RATES DIFFERENTIAL: PLUS(+), FAVORS BORROWING IN U. S. AVERAGES FOR WEEK ENDING WEDNESDAY P E R C E N T PER A NN UM lo+ P ER C EN T PER ANNUM 1 PERCENT ON D IF F E R E N T IA L SCALE = 2 PERCENT ON RATE SCALE CHART 8 INTEREST ARBITRAGE: 3-MONTH FUNDS DIFFERENTIAL: PLUS(+), INDICATES FAVOR DOLLAR ASSETS AVERAGES FOR WEEK ENDING WEDNESDAY NT PER ANN UM P E R C E N T P E R AN 20 20 16 16 12 12 8 8 4 4 0 4 0 2 2 + 0 + 0 2 2 20 20 16 16 12 12 8 8 4 4 2 2 4 DIFFERENTIAL + 0 2 DIFFERENTIAL + 0 I I I I I I I 1978 2 1980 PERCENT ON DIFFERENTIAL SCALE = 2 PERCENT ON RATE SCALE 1978 1980 CHART 9 LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES 14 15 12 13 10 11 8 9 6 10 7 8 5 6 3 4 1 7 16 17 14 15 12 13 10 11 8 9 6 7 14 13 12 11 10 9 8 7 6 5 1978 1980 1978 1980 CHART 10 INDUSTRIAL STOCK INDICES WEEKLY SERIES R A T IO S C A L E 1969=100 R A T IO S C A L E 1969=100 1978 1980 1978 1980 LAST VALUE PLOTTED DATE VALUE SERIES NAME CHA RT 1. SPOT EXCHANGE RATES AND INDICES WEEKLY AVERAGES, NOON BUYING RATES (U.S. CENTS) GER M A N MARK JAPANESE YEN DUTCH GUILDER U-K. POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC BELGIAN FRANC ITALIAN LIRA INDICES, DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. 3 3 3 3 3 3 3 3 3 51.58 0.46269 47.61 234.84 83.85 22.24 57.15 3.21237 0.10879 DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. 3 3 3 3 3 3 3 3 3 145.10 121.15 136.69 94.98 83.57 100.21 183.87 126.58 61.80 3 3 3 3 3 3 3 3 3 3 3 90.38 141.92 113.40 128.30 86.53 75.64 91.72 172.41 117.87 54.68 93.70 3 3 3 3 3 3 3 3 3.98 3.57 8.33 6.57 12.10 8-03 7.41 -0.03 MARCH 1973 BASE RATES = 100 GERMAN MARK JAPANESE YEN DUTCH GUILDER U.K. POUND C ANADIAN 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 C ANADIAN 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. CHA RT 2. 3-MONTH FORWARD EXCHANGE RATES, PREMIUM OR DISCOUNT CANADIAN DOLLAR U.K. POUND GERMAN MARK FRENCH FRANC SWISS FRANC DUTCH GUILDER JAPANESE YEN ITALIAN LIRA DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. LAST VALUE PLOTTED DATE VALUE SERIES NAME C HART 3. GCLD PRICE IN LONDON, AFTERNOON FIXING U.S. DOLLARS PER FINE OUNCE DEC. 3 626.20 DEC. DEC. NOV. NOV. NOV. NOV. NOV. NOV. OCT. NOV. 3 3 28 21 28 28 28 28 3 28 17..72 17..75 14..13 10..10 6..50 8..32 9..38 10..88 9..55 7..25 DEC. DEC. DEC. DEC. DEC. DEC. DEC. 3 3 3 3 3 3 3 17.34 9.67 9.63 14.04 14.63 6.05 11.49 DEC. DEC. DEC. DEC. DEC. DEC. 3 3 3 3 3 3 17.75 18.27 18.80 18.16 16.96 15.54 CHART 4. CALL MONEY RATES U.S. FEDERAL FUNDS OVERNIGHT EURO-DOLLAR DEPOSITS U.K. 2-CAY LOCAL AUTHORITY DEPOSITS CANADA GERMANY EURC-DM JAPAN FRANCE NETHERLANDS EURO-SWISS FRANC CHART 5. 3-MONTH INTEREST RATES U.S. 90-DAY CD'S, SECONDARY MARKET GERMAN INTERBANK LOAN J APANESE BANK LOANS S DISCOUNTS CAN A D I A N FINANCE PAPER INTERBANK STERLING SWISS INTERBANK LOAN W EIGHTED AVERAGE FOREIGN INTEREST RATE (G-10 COUNTRIES PLUS SWITZERLAND) C HART 6. E U R O -DOLLAR DEPOSIT RATES: LONDON OVERNIGHT 7-DAY 1-MONTH 3-MCNTH 6-MCNTH 1— Y EAR CHART 7. SELECTED EURO-DOLLAR AND U.S. MONEY MARKET RATES O V ERNIGHT EURO-DOLLAR DEPOSITS U.S. FEDERAL FUNDS DIFFERENTIAL ADJ. FOR RESERVE REQUIREMENTS DEC. DEC. DEC. 3 3 3 17.75 17.72 0.03 3-MONTH EURO-DOILAR DEPOSIT RATE U.S. 90-DAY C D ’S, SECONDARY MARKET DIFFERENTIAL DEC. DEC. DEC. 3 3 3 18.16 17.34 0.82 SERIES NAME CHABT CHART . INTEREST ARBITRAGE, LAST VALUE PLOTTED DATE VALUE 3-MONTH PUNDS EURC-DOLLAR DEPOSIT I N TERBANK STERLING (LONDON), COVERED DIF!ERENTIAL DEC. DEC. DEC. 3 3 3 18.16 18.33 -0.17 U.S. CCMMERCIAL PAPER CANA D I A N FINANCE PAPER, COVERED DIFFERENTIAL DEC. DEC. DEC. 3 3 3 16.81 18.16 -1.35 EURC-DOLLAR DEPOSIT INTERBANK DM (FRANKFORT), COVERED DIFFERENTIAL DEC. DEC. DEC. 3 3 3 18.16 18.20 -0.04 EORC-DCLLAR DEPOSIT SWISS INTERBANK, COVERED DIFFERENTIAL DEC. DEC. DEC. 3 3 3 18.16 18.33 -0.17 NOV. NOV. OCT. NOV. NOV. SEPT. OCT. NOV. 28 21 12. 72 8.74 9.00 4.69 12.97 13.43 10.09 11.11 LCNG TERM GOVERMENT BOND YIELDS ONI TED STATES GERMANY J A PAN (MONTHLY) SWITZERLAND CANADA FRANCE NETHERLANDS UNITED KINGDOM 14 21 12 3 28 0. i. C O R P ORATE AAA BONDS EORC-DM BONDS E O R O -DOLLAR BONDS CHART OCT. DEC. SEPT. 12.31 6.63 10.73 0. INDUSTRIAL STOCK INDICES UNITED STATES JAPAN FRANCE UNITED KINGDOM SWITZERLAND GERMANY NOV. NOV. NOV. NOV. NOV. NOV. 28 28 14 28 28 21 150.25 327.58 161.90 1 17.82 74.67 95.03
@FedFRASER