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(516/517)
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A
FILE
UBRARy
r r n
EEDERAL
RESERVE
BAN*
OE C H I C A G O
Selected Interest &
Exchange Rates
Weekly Series of Charts
February 11, 1985
Prepared by the
FINANCIAL MARKETS
SECTION
DIVISION OF
INTERNATIONAL FINANCE
BOARD OF GOVERNORS
F E D E R A L RESERVE SYSTEM
Washington, D C. 20551
Z
<
Table of Contents
TABLES
SUBSCRIPTION RATES:
1. L A T E S T F I G U R E S P L O T T E D
Weekly $15.00 per year or $.40 each in the United
States, its possessions, Canada, and Mexico; 10 or
2. D A I L Y C E R T I F I E D S P O T
E X C H A N G E RATES-H.10 R E L E A S E
more of the same issue t o one address, $13.50 per
year or $.35 each. Elsewhere, $20.00 per year or $.50
each. Address requests to Publications Services, Divi-
CHARTS
1. SPOT E X C H A N G E R A T E I N D I C E S
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
3. G O L D PRICE- L O N D O N
4. C A L L M O N E Y R A T E S
5. 3 - M O N T H I N T E R E S T R A T E S
6. E U R O - D O L L A R D E P O S I T R A T E S
7. S E L E C T E D E U R O - D O L L A R A N D
U.S. M O N E Y M A R K E T R A T E S
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
9. L O N G - T E R M G O V E R N M E N T B O N D Y I E L D S
10. I N D U S T R I A L S T O C K I N D I C E S
sion of Administrative Services, and make payment
remittance payable to the order of the Board of
Governors of the Federal Reserve System in a f o r m
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
FOREIGN CURRENCY
PRICE OF U.S. DOLLAR
JAPANESE YEN
CANADIAN DOLLAR
SWISS FRANC
GERMAN MARK
DUTCH GUILDER
U.K. POUND
FRENCH FRANC
120
60
BELGIAN FRANC
-
100
|
80
-
70
-
-
60
-
-
50
^ s /
I
I
I
-
1985
-
50
-
40
35
—
-
I
I IIIIIIIIII
1983
ITALIAN LIRA
-
I
I
I
I
1983
I
I I I I I I I I I I I Ih i l i i h i l i i
1985
30
25
CHART 2
3-MONTH FORWARD EXCHANGE RATES
PREMIUM (+) OR ( - )
AVERAGES FOR WEEK ENDING WEDNESDAY
PERCENT PER ANNUM
PERCENT PER ANNUM
24
6
CANADIAN DOLLAR
-
-
ITALIAN LIRA
-
-
V V
I
-
A
U. K. POUND
I
I
-
I
I
I
I
I IIIIIIIIII
DUTCH GUILDER
-
I IIIIIIIIII
6
12
GERMAN MARK
f\ yv
-
^ V
V
\
SWISS FRANC
-
—
0
16
FRENCH FRANC
12
JAPANESE YEN
+
0
1983
1985
1983
1985
CHART 3
PRICE OF GOLD IN LONDON
AVERAGES FOR WEEK ENDING WEDNESDAY
U.S. DOLLARS PER FINE OUNCE
U.S. DOLLARS PER FINE OUNCE
600
600
560
-
560
520
-
520
480
-
480
-
440
-
400
-
360
12.5 Kg BARS
AFTERNOON FIXING PRICE
440
-
400
360
-
320
320
280
280
-
240
240
1982
1983
1984
1985
CHART 4
CALL MONEY RATES
WEEKLY SERIES
ENT PER ANNUM
PERCENT PER Al
24
20
FRANCE
16
U. S. FEDERAL FUNDS
12
8
JAPAN
4
0
24
EURO-SWISS
FRANC
20
CANADA
16
12
L
.
8
4
-
+
0
4
I IIIIIIIIII
20
16
U. K. 2-DAY LOCAL AUTHORITY
12
-
%
8
GERMANY
4
EURO-DM
i
0
1983
1985
i
i
I
I
1983
I
I IIIIIIIIII
In
1985
CHART 5
3-MONTH INTEREST RATES
WEEKLY SERIES
PERCENT PER ANNUM
PERCENT PER ANNUM
18
16
20
-
-
14
12
CANADIAN FINANCE CO
PAPER
-
U . S . CD'S
10
-
I
WEIGHTED AVERAGE
FOREIGN RATE
I
I
I
I
I
I
^
-
l l h l l l l h l
12
-X
GERMAN INTERBANK RATE
-
10
U.K. INTERBANK STERLING
-
y
-
4
12
10
-
10
-
8
—
6
-
4
-
2
SWISS INTERBANK RATE
JAPANESE BANK
LOANS AND DISCOUNTS
1983
1985
1983
1985
CHART 6
EURO-DOLLAR DEPOSIT RATES
LONDON
AVERAGES FOR WEEK ENDING WEDNESDAY
ENT PER ANNUM
PERCENT PER At
24
20
OVERNIGHT
3-MONTH
7-DAY
6-MONTH
1-MONTH
1-YEAR
16
12
8
4
24
20
16
12
8
4
24
20
16
12
8
4
I I I I II I I I I I
1983
1985
1983
1985
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
20
18
22
-
20
16
14
~
Mi
FEDERAL FUNDS
16
DASHED LINE
1
12
A U z ^r A
10
-
18
OVERNIGHT
3-MONTH
„ ;
E U R O - D O L L A R DEPOSITS
14
12
10
E U R O - D O L L A R DEPOSITS
" V V
\ /
90-DAY CD' S
1
1
1
1
1
1
I I
1 1 1 1 M
1 I I
i i 1 i i 1 I I I
M
- I — I — I — ^ — I — I — I — 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 - 1 1 1 1 1 1
6
3
DIFFERENTIAL
DIFFERENT IAL
+
0
L _ J — I — 1 1 1 1 1 1 1 1 1 1 1 1
1983
1 PERCENT ON DIFFERENTIAL S C A L E = 2 PERCENT ON R A T E S C A L E
ii
111111111
1985
I
I
1983
l
11111111111
111111 M
1985
111
CHART 8
INTEREST ARBITRAGE: 3-MONTH FUNDS
DIFFERENTIAL: PLUS<+), INDICATES FAVOR DOLLAR ASSETS
AVERAGES FOR WEEK ENDING WEDNESDAY
:NT PER ANNUM
PERCENT PER M
22
22
18
18
14
CANADIAN FINANCE
CO. PAPER, COVERED
EURO-DOLLAR DEPOSITS
DASHED LINE
14
10
10
INTERBANK STERLING
6
COVERED LONDON
6
U. S. COMMERCIAL PAPER
2
II
2
4
2
2
DIFFERENTIAL
DIFFERENTIAL
+
0
+
0
2
2
I I
I
I
I
I
I
I
4
22
22
18
14
18
SWISS INTERBANK (SF) COVERED
INTERBANK DM
14
COVERED FRANKFURT
10
6
10
EURO-DOLLAR DEPOSITS
DASHED LINE
6
EURO-DOLLAR DEPOSITS
DASHED LINE
2
2
2
2
DIFFERENTIAL
DIFFERENTIAL
+
0
IA-A
2
1
1
1983
1985
PERCENT ON DIFFERENTIAL S C A L E = 2 PERCENT ON RATE SCALE
- .A
1
1
j
^
1
^ II A
1
1983
1
+
A Jk k .
r
0
11111111111
1985
2
CHART 9
LONG-TERM GOVERNMENT BOND YIELDS
WEEKLY SERIES
ENT PER ANNUM
PERCENT PER AL NUM
19
19
UNITED STATES
15
CANADA
-wvy
|
-
11
15
11
-
-
7
I
I
I
7
15
9
UNITED KINGDOM
SWITZERLAND
—
—
11
5
—
7
13
1
13
MONTHLY
GERMANY
-
JAPAN
-
9
9
"
I
5
I
-
I
5
22
22
U. S. CORPORATE
MONTHLY
18
-
-
FRANCE
18
Aaa BONDS
.14
14
—
—
NETHERLANDS
MONTHLY
10
-
II I I I I I
6
1983
1985
I
I
1983
I
~
11111111111
1985
10
6
CHART 10
INDUSTRIAL STOCK INDICES
WEEKLY SERIES
RATIO SCALE
1969=100
RATIO SCALE
1969=100
240
UNITED KINGDOM
UNITED STATES
120
200
—
" 200
180
NETHERLANDS
160
140
-
120
-
100
-
90
A
-
y V
FRANCE
r
120
-
90
i
i
i
—
I
A
z-V^
-
-
-
-
—
j
GERMANY
V
100
I
I
I
I
I I | I I | I I | I I II I I I I I I I I I
-
—
-
—
-
—
80
-
-
-
i
i
i
I
I
I
—
280
-
^
—
JAPAN
M
,
-
160
-
140
J
120
^
—
—
AA/
|
I II III IIIII| | || I| II| II
—
SWITZERLAND
|
70
180
—
—
-
90
70
I
—
—
120
80
I I I I I I I I I I I| | | | | | I I | I I
—
110
240
140
100
r
a
140
320
- 160
V
—
70
160
V
—
80
180
^
-
JXA/
/ V
180
|
-
90
-
80
I I I II I II I I I
—
CANADA
-
-
/
r*
100
70
—
320
-
280
-
240
200
-
180
-
—
180
160
-
-
160
140
-
-
140
120
I
I
I
I
I
1983
I
I I III III I||
200
I
1985
I
I
I
I
1983
I
I II II I IIIII | | | ||| | | | II
1985
120
SERIES
CHART
1.
SPOT
L A S T VALUE PLOTTED
DATE
VALUE
NAME
EXCHANGE RATES AND I N D I C E S
WEEKLY A V E R A G E S ,
NOON BUYING RATES
{U.S.
CENTS)
GERMAN MARK
J A P A N E S E YEN
DUTCH GUILDER
U, K. POUND
CANADIAN DOLLAR
FRENCH FRANC
S W I S S FRANC
BELGIAN FRANC
ITALIAN LIRA
S W E D I S H KRCNA
INDICES,
MARCH 1 9 7 3
BASE RATES =
WEIGHTED AVERAGE EXCHANGE VALUE I N D I C E S ,
( G - 1 0 C O U N T R I E S P L U S SWITZERLAND)
U . S . DOLLAR
GERMAN 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
S W I S S FRANC
BELGIAN FRANC
ITALIAN LIRA
SWEDISH KSONA
3-MONTH FOBWARD EXCHANGE R A T E S ,
CANADIAN DOLLAR
U . K . POUND
GERMAN MARK
FRENCH FRANC
S W I S S FRANC
DUTCH G U I L D E R
J A P A N E S E YEN
ITALIAN LIRA
6
6
6
6
6
6
6
6
6
6
3 1 . 24
0. 38756
27,61
111.86
75.09
10. 22
36.77
1.56069
0.05077
10.97
FEB.
FEB.
FEB.
FEB.
FEB.
FEB.
FEB.
FEB.
FEB.
6
6
6
6
6
6
6
6
6
87.88
10 1 . 4 8
79.27
4 5 . 24
74.84
46.07
118.31
6 1 . 50
28.84
6
6
6
6
6
6
6
6
6
6
6
154.36
128.94
149.04
112.40
60.76
105.75
61.69
168.95
85.89
37.89
6 7 . 46
6
6
6
6
6
6
6
6
-1.09
-3.95
2. 60
-2.03
3 . 27
2. 35
2.46
-5.90
100
GERMAN MARK
J A P A N E S E YEN
DUTCH GUILDER
0 . K. POUND
CANADIAN DOLLAR
FRENCH FRANC
S W I S S FRANC
B E L G I A N FRANC
ITALIAN LIRA
CHART 2 .
FEB.
FEB.
FEB.
FEB.
FEB.
FEB.
FEB.
FEB.
FEB.
FEB.
MAR 1 9 7 3 =
100
FEB.
FEB.
FEB.
FEB.
FEB.
FEB.
FEB.
FEB.
FEB.
FEB.
FEB.
PREMIUM OS D I S C O U N T
FEB.
FEB.
FEB.
FEB.
FEB.
FEB.
FEB.
FEB.
e
SERIES
CHART 3 .
GOLD P R I C E
U.S.
CHART 4 .
DOLLARS
CALL
IN
L A S T VALUE PLOTTED
DATE
VALUE
NAME
LONDON,
AFTERNOON F I X I N G
PEE F I N E OUNCE
FEB.
FEB.
FEB.
FEB.
JAN.
FEB.
FEB.
FEB.
FEB.
JAN.
FEB.
EURO-DOLLAR
DEPOSIT RATES:
8 . 59
8. 49
14. 25
10. 09
6. 00
5. 91
6. 06
1 0 ., 7 5
1 0 . 30
2. 15
S E L E C T E D EURO-DOLLAR
8.
6.
6.
9.
13.
5.
8.
44
10
31
83
10
50
77
FEB.
FEB.
FEB.
FEB.
FEB.
FEB.
FEB.
6
6
6
6
6
6
6
FEB.
FEB.
FEB.
FEB.
FEB.
FEB.
6
6
6
6
6
6
8.49
8.49
8.54
8.76
8.99
9.63
LONDON
OVERNIGHT
7-DAY
1-MONTH
3-MONTH
6-MONTH
1-YEAR
CHART 7 .
6
6
1
18
1
8
1 .
1
1
8
3-MONTH I N T E R E S T RATES
U . S . 9 0 - D A Y C D ' S , SECONDARY MARKET
GERMAN INTERBANK LOAN
J A P A N E S E BANK LOANS 6 D I S C O U N T S
CANADIAN F I N A N C E PAPER
INTERBANK S T E R L I N G
S W I S S INTERBANK LOAN
WEIGHTED AVERAGE FOREIGN I N T E R E S T RATE
( G - 1 0 C O U N T R I E S P L U S SWITZERLAND)
CHART 6 .
303.28
MONEY B A S E S
U . S . FEDERAL FUNDS
OVERNIGHT EURO-DOLLAR D E P O S I T S
U. K.
CANADA
GERMANY
EURO-DM
JAPAN
FRANCE
NETHERLANDS
E U R O - S W I S S FRANC
CHART 5 ,
6
AND U . S .
MONEY MARKET RATES
OVERNIGHT EURO-DOLLAR D E P O S I T S
U. S . FEDERAL FUNDS
D I F F E R E N T I A L A D J . FOB RESERVE REQUIREMENTS
FEB.
FEB.
FEB.
6
6
6
8 . 49
8 . 59
- 0 . 10
3-MONTH EURO-DOLLAR D E P O S I T RATE
U . S . 9 0 - D A Y C D ' S , SECONDARY MARKET
DIFFERENTIAL
FEB.
FEB.
FEB.
6
6
6
8. 76
8 . 44
0 . 32
SERIES
CHART 8 .
INTEREST
L A S T VALUE PLOTTED
DATE
VALUE
NAME
ARBITRAGE,
3-MONTH FUNDS
EURO-DOLLAR D E P O S I T
INTERBANK S T E R L I N G (LONDON),
DIFFERENTIAL
U . S . COMMERCIAL PAPER
CANADIAN F I N A N C E P A P E R ,
DIFFERENTIAL
COVERED
COVERED
EURO-DOLLAR D E P O S I T
INTERBANK DM ( F R A N K F U R T ) ,
DIFFERENTIAL
COVERED
EURO-DOLLAR D E P O S I T
S W I S S I N T E R B A N K , COVERED
DIFFERENTIAL
9.
8. 76
9.02
- 0 . 26
FEB.
FEB.
FEB.
6
6
6
8.34
8.71
- 0 . 37
FEB.
FEB.
FEB.
6
6
6
8.76
8.74
0.02
FEB.
FEB.
FEB.
6
6
6
8.76
8.81
-0.05
FEB.
FEB.
DEC.
JAN.
JAN.
FEB.
DEC.
FEB.
1
1
1 1 . 15
7 . 19
6 . 36
4.68
11.52
1 2 . 17
7.72
10. 33
4
1 1
1
1
CORPORATE
AAA BONDS
EURO-DOLLAR
CHART
6
6
6
LONG TERM GOVERMENT BOND Y I E L D S
UNITED STATES
GERMANY
J A P A N (MONTHLY)
SWITZERLAND
CANADA
FRANCE
NETHERLANDS (MONTHLY)
U N I T E D KINGDOM
S.
FEB.
FEB.
FEB.
10.
STOCK
BONDS
12.08
10.29
INDICES
UNITED STATES
U N I T E D KINGDOM
CANADA
GERMANY
SWITZERLAND
NETHERLANDS
FRANCE
JAPAN
JAN.
NOV.
JAN.
JAN.
JAN.
JAN.
JAN.
JAN.
JAN.
JAN.
30
30
30
30
30
30
30
30
185. 48
2 16. 93
257.91
169.95
138.84
186.28
197.83
246.38
FEDERAL RESERVE statistical release
H.10 (512)
FEBRUARY
FOREIGN EXCHANGE RATES
FOE THE
KEEK
ENDING
FEBRUARY
8,
11,
1985
1985
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 rates In New York City for cable transfers payable In foreign currencies:
MONETARY
UNIT
COUNTRY
•AUSTRALIA
AUSTRIA
^
BELGIUM
BRAZIL
CANADA
CHINA,P.R.
DENMARK
FINLAND
FRANCE
GEEHANI
GREECE
HCNG KONG
INDIA
•IRELAND
ISRAEL
ITALY
JAPAN
MALAYSIA
MEXICO
NETHERLANDS .
•NEM ZEALAND
NORWAY
PHILIPPINES
PORTUGAL
SINGAPORE
•SOUTH AFRICA
SOUTH KOfiEA
SPAIN
S R I LANKA
SWEDEN
SWITZERLAND
TAIWAN
THAILAND
• U N I T E D KINGDOM
VENEZUELA
DOLLAR
SCHILLING
FRANC
CRUZEIRO
DOLLAR
YUAN
KRONE
MARKKA
FRANC
D . MARK
DRACHMA
DOLLAR
RUPEE
POUND
SHEKEL
LIRA
YEN
RINGGIT
PESO
GUILDER
DOLLAR
KRONE
PESO
BSCUDO
DOLLAR
RAND
WON
PESETA
RUPEE
KRONA
FRANC
DOLLAR
BAHT
POUND
BOLIVAR
MEMO:
•UNITED STATES
DOLLAR
'
FEB.
4 ...
(CURRENCY U N I T S
FEB.
5
79.33
22.565
64*260
3585.00
1,3333
2.8167
11.4730
6.7230
9.8150
3.2140
130.550
7.8105
12.7500
96.75
NA
1973.50
259.42
2.5165
232.0000
3.6360
46.400
9.2650
NA
180.000
2.2300
49.30
834.30
177.400
26.553
9.1460
2.7395
39.190
27.580
111.40
NA
77,85
22.663
64.600
3585.00
1.3350
2.8167
11.5220
6.7420
9.8540
3.2260
131.350
7.8110
12.7700
96.30
NA
1982.00
259.70
2.5330
232.0000
3.6500
46.180
9.3050
NA
181.000
2.2410
49.40
835.30
178.250
26.553
9.1850
2.7415
39.220
27.750
1 1 1 . 12
NA
154.94
155.42
PER DOLLAR]
FEB.
6
78.06
22.635
64.520
3535.00
1.3350
2.8167
11.5050
6.7350
9.8525
3.2230
131.300
7.8040
12.8100
96.58
NA
1983.50
259.53
2.5315
232.2500
3.6505
46.190
9.2830
NA
183.000
2.2390
5 1 . 15
836.00
177.950
26.553
9.1625
2.7375
39.250
27.750
111.35
NA
155.31
FEB.
7
75.80
22.770
64.970
3656.00
1.3363
2.8167
11.5950
6.7625
9.9050
3.2455
131.550
7.7995
12.8100
95.85
NA
1996.00
260.65
2.5430
233.5000
3.6750
45.910
9.3200
NA
185.000
2.2585
53.45
836.70
178.630
26.553
9.1975
2.7600
39.230
27.830
111.60
NA
156.02
FEB.
d
77.00
22.880
65.240
3656.00
1.3360
2.8167
1 1.6300
b.7720
9.9400
3.2575
131.600
7.8020
12.6400
95.40
NA
2004.00
260.70
2.5490
234.5000
3.6860
45.950
9.3400
NA
185.000
2.2605
53.50
837.20
179.000
26.553
9.2200
2.7750
39.210
27.850
110.90
NA
156.51
t I N D E X O F W E I G H T E D AVERAGE EXCHANGE VALUE OF U . S . DOLLAR A G A I N S T C U R R E N C I E S OF OTHER G - 1 1
C O U N T R I E S . MARCH 1 9 7 3 = 1 0 0 . W E I G H T S ARE 1 9 7 2 - 7 6 GLOBAL TRADE O F EACH
OF THE 1 0 C O U N T R I E S .
S E R I E S R E V I S E D AS OF AUGUST 1 9 7 8 . FOR D E S C R I P T I O N AND BACK D A T A , S E E " I N D E X OF THE
W E I G H T E D - A V E R A G E EXCHANGE VALUE OF THE U . S . D O L L A R : R E V I S I O N " ON PAGE 7 0 0 O F THE AUGUST
1 9 7 8 FEDERAL RESERVE B U L L E T I N .
* VALUE I S
U.S.
CENTS
@FedFRASER