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(516/517)

Selected Interest &
Exchange Rates
Weekly Series of Charts

February 12,1990

DIVISION OF
INTERNATIONAL FINANCE

Prepared by the
FINANCIAL MARKETS
SECTION




BOARD OF GOVERNORS
FEDERAL RESERVE SYSTEM
Washington, DuC. 20551

Table of Contents

TABLES
1. LATEST FIGURES PLOTTED
2. DAILY CERTIFIED SPOT
EXCHANGE RATES—
H.10 RELEASE
CHARTS
1. SPOT EXCHANGE RATE INDICES
3-MONTH FORWARD EXCHANGE RATES
GOLD PRICE—LONDON
CALL MONEY RATES
3-MONTH INTEREST RATES
EURO-DOLLAR DEPOSIT RATES
SELECTED EURO DOLLAR AND
U S. MONEY MARKET RATES
INTEREST ARBITRAGE: 3-MONTH FUNDS
LONG-TERM GOVERNMENT BOND YIELDS
10 INDUSTRIAL STOCK INDICES




SUBSCRIPTION RATES:
Weekly $24.00 per year or $.60 each in the United
States, its possessions, Canada, and Mexico; 10 or
more of the same issue to one address. $22.50 per
year or $.55 each. Elsewhere. $30.00 per year or $.70
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 m 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
RATIO SCALE
MARCH 1973=100

140
130
120

RATIO SCALE
MARCH 1973=100

FOREIGN CURRENCY
PRICE OF U.S. DOLLAR

140
130
120

BELGIAN FRANC

110

110

100

100

90

90

80

80
'

70
280
260 —
240
220

i

'

1

l

'

'

I

»

»

i

I

i

i

i

•

'

'

SWISS FRANC

I

'

'

'

I

'

'

I

I

I

I

70
280
260
240
220

JAPANESE YEN

200

200

180

180

160

160

140
120
100

140
i

i

i

90

I

'

'

'

l

'

i

'

i

J_L

•

i

'

__

U.K. POUND

'

l

'

•

1

I

•

1

i

I

i

'

•

CANADIAN DOLLAR

90

80

80

70

70

60
50
200

60
I

I

I

180

I

'

I

'

I

• •

I

I

I

I

I

'

'

'

I

•

•

•

I

•

•

•

I

I

I

I

GERMAN MARK

DUTCH GUILDER

160

140

140

120

120

'

'

'

I

'

'

•

I

'

'

•

I

'

•

_L_L

110

I

'

'

'

I

'

•

•

'

I

I

I

50

FRENCH FRANC

90

100
60
55

ITALIAN LIRA

100

45

80

40

70

35

60
50

50
200
180

160

100
120

120
100

30
1

1

1




I

1

1

1

1988

I

1

1

I

I

'

I

•

1990

i

i t
1988

I

i

i

'

I

'

•
1990

•

25

CHART 2

3-MONTH FORWARD EXCHANGE RATES
PREMIUM (+) OR [-)
AVERAGES FOR WEEK ENDING WEDNESDAY
PERCENT PER ANNUM

PERCENT PER ANNUM

4 ,

4
CANADIAN DOLLAR

I

I

»

I

I

U.K. POUND

I

I

I

I

I

I

I

I

I

GERMAN MARK

i

i

i

I

i

i

i

i

I

i

i

i

I

i

i

i

I

i

i

i

I

I

I

I

I

I

I

I

I

I

JAPANESE YEN

i

i

I

i

i

i

I

i

i

I

I

I

I

I

I

I

I

I

I

I

I

I

I

SWISS FRANC

I

I

I

I

I

ITALIAN LIRA

FRENCH FRANC




1988

I

1990

1988

1990

CHARTS

PRICE OF GOLD IN LONDON
A V E R A G E S FOR W E E K ENDING W E D N E S D A Y

U.S. DOLLARS PER FINE Ol

U.S.I DLLARS PER FINE OUNCE
520

500

12.5 Kg BARS
AFTERNOON FIXING PRICE

480

460

440

420

400

380

360

340

320
1987




1988

1989

1990

CHART 4

CALL MONEY RATES
WEEKLY SERIES
PERCENT PER ANNUM

PERCENT PER ANNUM

16

16

12

—

U.S. FEDERAL FUNDS

12

FRANCE

JAPAN

0
16

i

i

'

I

i

i

i

I

i

i

i

l

i

i

i

i

i

i

I

i

i

i

I

i

i

i

I

i J - J - l O
16

12

12
CANADA
GERMANY

i

i

l

i

'

i

l

i

'

i

I

i

i

i

i

I

i

i

i

I

i

i

i

I

i

i

0
20

SWITZERLAND

UNITED KINGDOM




i

16

12

NETHERLANDS

i
1988

1990

1988

i

I

i

i

i

I

i

'
1990

i

CHARTS

3-MONTH INTEREST RATES
WEEKLY SERIES
>ENT PER ANNUM

PERCENT PER AN

12
FRENCH INTERBANK RATE

10
U.S. CD'S

8

6
WEIGHTED AVERAGE
FOREIGN RATE

4
i

2
16

14

i

i

I

i

i

i

I

'

i

i

I

i

i

i

I

I

U.K. INTERBANK STERLING

I

I

I

I

I

I

I

I

I

I

I

I

I

i

i

I

i

'

i

I

I

'

CANADIAN FINANCE CO.
PAPER

12

10

8

i

6

i

i

I

i

i

i

I

'

'

i

I

i

i

i

i

i

i

I

i

i

i

I

i

10

8

—

GERMAN INTERBANK RATE

—

SWISS INTERBANK RATE

6

4

2

i

i

i

I

i

i

i

I

i

i

i

I

i

i

•

10
NETHERLANDS INTERBANK RATE

8

JAPANESE GENSAKI RATE

6

4

2

i

'

i

I




i

i
i
1988

I

i

i

i

I

i

i
'
1990

I
1988

I

'

'

'
1990

CHART 6

EURO DOLLAR DEPOSIT RATES LONDON
AVERAGES FOR WEEK ENDING WEDNESDAY
PERCENT PER ANNUM

PERCENT PER ANNUM

14

14

OVERNIGHT

12

3-MONTH

12

10

10

'

4
14

i

i

I

i

i

i

l

'

'

'

l

i

i

i

I

I

I

1

I

7-DAY

12

I

I

I

»

I

I

1

I

I

I

6-MONTH

12

10

4
14

4
14

10

i

i

i

I

i

i

'

I

i

i

i

I

i

i

i

I

I

I

1-MONTH

12

I

I

I

I

'

'

»

I

I

!__L

1-YEAR

4
14

12

10

10

'

'

•




I

•

•
1988

'

I

•

•

•

I

•

•
1990

•

i

i

i

I

i

i
i
1988

l

i

i

i

I

i

i
1990

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

14

14

12

12

10

OVERNIGHT
EURO-DOLLAR DEPOSITS

10

3-MONTH
EURO-DOLLAR DEPOSITS

FEDERAL FUNDS

90-DAY CD'S

DASHED LINE

J — l — I — I

l

DASHED LINE

l

I

I

i

i

i

I

i

J—I

I

L_L

DIFFERENTIAL
DIFFERENTIAL

I

I

I




J
1988

1

1

1

'

'

I

'

"

'
1990

J — I — I — I
1988

i

I

i

i
1990

CHARTS

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

PERCENT PER ANNL

16

16

12

12

CANADIAN FINANCE
CO. PAPER, COVERED

INTERBANK STERLING
COVERED LONDON

8

8

0

U.S. COMMERCIAL PAPER

EURO-DOLLAR DEPOSITS

4

—

DASHED LINE

i

i i I i

i i

I i i i I i i i

4

DASHED LINE

j_ i i

I i

i

i

I i

i i I i i i

DIFFERENTIAL

DIFFERENTIAL
+

+

p.nrifr

0

2
16

I

I

12

I

I

I

I

I

I

I

I

I

I

I

I

I

I

0

I

INTERBANK DM

I

I

I

I

I

I

I

I

I

I

I

I

8

8

EURO-DOLLAR DEPOSITS

EURO-DOLLAR DEPOSITS

4

i

i i I i i

4

DASHED LINE

DASHED LINE

i I i i i I i i

i

1

1

1

I

i

i

i

I

'

i

i

I

i

i

i

0
2

2
DIFFERENTIAL

DIFFERENTIAL

+

+

0

0

2

2
16

12

SWISS INTERBANK (SF) COVERED

COVERED FRANKFURT

0

0
2

2

I

I




I

I

I I
1988

I

I

I

I

I

I

I I
1990

I

I

I

I

I

I I
1988

I

I

I

I

I

I

I
1990

2

CHART 9

LONG-TERM GOVERNMENT BOND YIELDS
WEEKLY SERIES
PERCENT PER ANNl

{CENT PER ANNUM
14

CANADA

UNITED STATES
12

10

8

6
14

i

i

i

I

i

i

i

I

i

i i

I

i

i

i

I

I

»

I

»

1

»

I

1

I

1

I

I

I

»

I

»

i

i

I

i

i

'

I

i

»

»

l

i

»

i

l

i

i

i

l

i

'

i

I

I

I

I

I

I

I

I

I

I

FRANCE

UNITED KINGDOM
12

10

8

6
10

I

I

I

I

«

'

'

I

'

'

•

I

'

I

'

•

«

»

JAPAN

SWITZERLAND
8

6

4

2

I

I

I

I

I

I

I

I

I

I

I

I

I

I

I

•

»

i

10

GERMANY

NETHERLANDS
MONTHLY
8

6

4

2

'

i

i




I

»

i
1988

i

I

i

i

i

1

>

i
1990

»

I

I

I

I

I

1988

1990

CHART 10

STOCK INDICES
WEEKLY SERIES
RATIO SCALE
1986=100

RATIO SCALE
1986=100

200

175

200
UNITED STATES

— NETHERLANDS

175

150

150

125

125

100

100

75

75

50
400
350

i

i

i

I

i

i

i

I

i

i

i

l

i

i

i

•

i

I

i

i

i

I

i

i

i

I

i

i

i

50
200

. JAPAN

— GERMANY

175

300

150

250

125

200

100

150

75

100

i

i

i

I

i

i

i

I

i

i

i

l

'

i

'

i

i

i

i

i

i

i

I

i

i

i

I

i

i

i

200

50
200

175 — SWITZERLAND

FRANCE

175

150

150

125

125

100

100

75

75

50

i

i i

I i

i

i

I i

i i

I i

i

i i I i

i

i

I i i i 1 i i i

200

50
200

175 — CANADA

UNITED KINGDOM

175

150

150

125

125

100

100

75

75

50

i

'

i




I

i

< i
1988

l

i

i

i

I

i

i i
1990

» i

i

1 '

i i
1988

I

i

i

'

I

i

i i
1990

50

SERIES
10-Jan-90 17-Jan-90 24-Jan-90 31-Jan-90 7-Feb-90
C h a r t 1.

S p o t Exchange R a t e s a n d I n d i c e s

Noon b u y i n g r a t e s

(U.S.

cents,

weekly averages)

Belgian franc
Canadian d o l l a r
French f r a n c
German mark
Italian lira
Japanese yen
Netherlands g u i l d e r
Swiss f r a n c
U . K . pound
Indices,

2.8377
86.180
17.462
59.561
0.07947
0.69279
52.775
65.428
164.70

2.8275
86.150
17.423
59.288
0.07952
0.68756
52.583
66.297
165.82

2.8042
84.793
17.271
58.693
0.07883
0.68530
52.088
66.059
164.68

2.8368
84.044
17.463
59.317
0.07978
0.69489
52.642
66.963
167.07

2.8630
84.085
17.613
59.882
0.08050
0.68845
53.076
67.263
169.18

111 . 8 2
85 . 8 9
78 .69
167 . 5 5
45 . 6 2
181 . 3 9
151 . 5 1
210 . 4 9
66 . 6 2

111 . 4 2
85 .86
78 . 5 1
166 .78
45 . 6 5
180 . 0 3
150 .96
213 .28
67 .07

110 .50
84 . 5 1
77 .83
165 . 1 1
45 .25
179,.43
149..53
2 1 2 , .52
6 6 ., 6 1

111 . 7 8
83 .77
78 . 6 9
166 .86
45 . 8 0
181 . 9 4
151 . 1 2
215 . 4 3
67 .57

112 .82
83 . 8 1
79 .37
168 .45
46..21
180,,26
152..37
216. 39
6 8 . 43

105 . 1 3
78 . 8 1
71 .30
171 . 0 4
39 .79
181 . 4 3
145 . 3 4
66 .76
205 . 7 2
60 . 2 5
93 . 5 2

105
77
71
171
39
182
145
66
206
60
92

106
77
71
172
40
179
146
67
206
61
92

M a r c h 1973 b a s e r a t e s = 100

Belgian franc
Canadian d o l l a r
French f r a n c
German mark
Italian lira
Japanese yen
Netherlands g u i l d e r
Swiss f r a n c
U . K . pound
Weighted average exchange v a l u e i n d i c e s ,

Mar.

1973=100

Belgian franc
Canadian d o l l a r
French f r a n c
German mark
Italian lira
Japanese yen
Netherlands g u i l d e r
Swedish k r o n a
Swiss f r a n c
U . K . pound
U.S. d o l l a r

105.56
79.52
71.55
172.43
39.80
182.03
146.15
66.81
202.05
59.73
92.59

Chart 2.

'remium o r D i s c o u n t

3 - M o n t h F o r w a r d Exchange R a t e s

Canadian d o l l a r
French f r a n c
German mark
Italian lira
Japanese yen
Netherlands g u i l d e r
Swiss f r a n c
U . K . pound

-3.71
-3.16
-0.06
-4.33
1.41
-0.59
-1.01
-6.36

105 .29
79 .59
71 .46
171 . 7 2
39 .88
180 . 7 2
145 .77
66 . 9 4
205 . 0 5
60 .26
92.72

- 3 .73
- 2 .90
- 0 .03
- 4 .33
1 .27
- 0 .64
- 1 .32
-6 .61

- 3 .67
- 2 .70
0 .05
- 4 .25
1 .30
- 0 .58
- 1 .26
- 6 .47

.54
.40
.56
.60
.97
. 66
.77
.78
.94
.69
.59

.04
.05
.87
.58
.15
.82
.32
.09
.89
.22
.04

- 3 .97
- 2 .55
0 .05
- 4 .36
1..29
- 0 . .49
- 1 . .47
- 6 ,. 3 1

- 4 .03
- 2 .50
0,.18
- 4 , .43
1. 28
- 0 . 47
- 1 . 31
- 6 . 39

417 ,.12

420. 31

ixing
d o l l a r s per f i n e ounce

Chart 4.

403.73

413 . 4 2

411

i—i

U.S.

C a l l Money R a t e s

U.S. f e d e r a l f u n d s
Overnight Euro-dollar
Canada
France
Germany
Japan
Netherlands
Switzerland
U n i t e d Kingdom




deposits

8.22
8.18
12.13
10.76
7.70
6.49
8.60
9.18
14.91

8
8
12
10
7
6
8
8
14

.20
.09
.05
.33
.67
.42
.74
.88
.90

8
8
12
10
7
6
8
8
14

.23
.15
.33
.53
.77
.43
.17
.88
.81

8.
8.
12.
10.
6.
6.
8,
8.
14.

24
09
30
63
55
48
33
88
74

8.
8.
12.
10.
7.
6.
8.
8.
14.

22
14
00
39
81
42
44
90
89

SERIES
Jan - 9 0
Chart 5.

3-Month I n t e r e s t

Rates

U.S. 90-day C D ' s , s e c o n d a r y market
Canadian f i n a n c e paper
French i n t e r b a n k r a t e
German i n t e r b a n k r a t e
Japanese g e n s a k i r a t e
Netherlands interbank rate
Swiss i n t e r b a n k r a t e
U.K. i n t e r b a n k s t e r l i n g
Weighted average f o r e i g n i n t e r e s t r a t e
CG-10 C o u n t r i e s )
Chart 6.

Euro-Dollar

8 .15
12 .27
11 . 4 5
8 .28
5 .94
8 .84
9 .13
15 .06
9 .97

8
8
8
8
8
8
S e l e c t e d E u r o - d o l l a r & U.S.

Overnight Euro-dollar
U.S. f e d e r a l f u n d s
Differential

Interest

deposits

Arbitrage,

Euro-dollar deposit
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 deposit
Swiss i n t e r b a n k , c o v e r e d
Differential

8.15
8.11
8.23
8.26
8.33
8.49

8 .22
12 .56
10 .79
8 .06
6 .20
8 .72
9 .45
15 .06
9 .94

.18
.20
.23
.23
.20
.19

8
8
8
8
8
8

.09
.13
.19
.25
.31
.51

8 .14
8 .13
8 .19
8 .25
8 .31
8 .51

8. 18
8 . 22
- 0 . 04

8.09
8.20
-0.12

8.15
8.23
-0.08

8 . 09
8. 24
- 0 . 15

8 .14
8 .22
- 0 .09

8 . 23
8 . 15
0. 08

8.15
8.11
0.04

8.26
8.20
0.06

8 . 25
8 . 19
0. 06

8 .25
8, 22
0..03

8 . 23
8 . 47
- 0 . 24

8.15
8.29
-0.14

8.26
8.53
-0.27

8 . 25
8 . 52
- 0 . 27

8 . 25
8 . 43
- 0 . 18

8 . 09
8 . 45
- 0 . 23

8.04
8.35
-0.20

8.12
8.28
-0.02

8 . 13
8 . 30
- 0 . 05

8 . 15
8 . 40
- 0 . 15

8 . 23
8 . 22
0 . 01

8.15
8.13
0.02

8.26
8.29
-0.03

8 . 25
8 . 21
0 . 04

8 . 25
8 . 24
0 . 01

8 . 23
8 . 09
0 . 13

8.15
8.05
0.10

8.26
8.11
0.15

8 . 25
8 . 07
0 . 18

8 . 25
8 . 11
0 . 14

ND
10.05
7.88
6.60
10.05
9.82
8.13

ND
10.04
8.00
6.62
10.04
10.09
8.30

ND
1 0 . 26
8 . 03
ND
1 0 . 26
1 0 . 09
8 . 47

ND
1 0 . 27
8 . 15
ND
10. 27
1 0 . 20
8 . 51

Long Term G o v e r n m e n t Bond Y i e l d s

Canada
France
Germany
Japan
Switzerland
U n i t e d Kingdom
United States
C h a r t 10.

8.09
8.09
8.15
8.15
8.16
8.20

8 .19
12 .40
10 .98
8 .16
6 .15
8 .78
9 .58
15 .06
9 .96

3 - M o n t h Funds

covered

Euro-dollar deposit
I n t e r b a n k DM ( F r a n k f u r t ) ,
Differential

Chart 9.

8.20
12.07
11.00
8.24
6.04
8.84
9.40
15.25
9.96

Mone y M a r k e t R a t e s

3-month E u r o - d o l l a r d e p o s i t
U.S. 90-day CD's, s e c o n d a r y market
Differential
Chart 8.

8.11
12.19
11.21
8.16
6.00
8.83
9.40
15.15
9.95

Deposit Rates

Overnight
7-day
1-month
3-month
6-month
1-year
Chart 7.

1 7 - J a n - 9 0 2 4 - J a n - 9 0 3 1 - J a n - 9 0 7 - F e b - 90

9.
9.
7.
6.
9.
9.
8.

85
68
85
20
68
61
01

Stock I n d i c e s

Canada
France
Germany
Japan
Netherlands
Switzerland
U n i t e d Kingdom
United States




131 . 3 5
149 . 5 1
114 .86
211 .26
108 .77
137 . 3 3
150 . 2 3
141 . 2 3

129.
146.
113.
205.
104.
134.
147.
137.

04
95
09
64
92
10
04
37

Toronto Composite,

125
144
109
204
102
130
141
134

.35
.03
.67
.58
.26
.35
.87
.26

123
143
113
207
105
131
144
133

CAC G e n e r a l ,

.45
.01
.97
.00
.08
.85
.62
.43

125. 94
144. 99
120. 70
2 0 9 . 16
105. 24
135. 45
142. 41
135. 49

1
FAZ A k t i e n ,
NYSE C o m p o s i t e

•oOLGO^-..

FEDERAL RESERVE statistical release
H.10(512)

February 12> 1990

FOREIGN EXCHANGE RATES
FOR THE WEEK ENDING

FEBRUARY 9, 1990

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.

COUNTRY
^AUSTRALIA
AUSTRIA
BELGIUM
CANADA
CHINA,P.R.
DENMARK
FINLAND
FRANCE
GERMANY
GREECE
HONG KONG
INDIA
^IRELAND
ITALY
JAPAN
MALAYSIA
NETHERLANDS
XNEM ZEALAND
NORWAY
PORTUGAL
SINGAPORE
SOUTH AFRICA
SOUTH KOREA
SPAIN
SRI LANKA
SWEDEN
SWITZERLAND
TAIWAN
THAILAND
*UNITED KINGDOM
MEMO:
**UNITED STATES

MONETARY
UNIT
DOLLAR
SCHILLING
FRANC
DOLLAR
YUAN
KRONE
MARKKA
FRANC
D. MARK
DRACHMA
DOLLAR
RUPEE
POUND
LIRA
YEN
RINGGIT
GUILDER
DOLLAR
KRONE
ESCUDO
DOLLAR
RAND
WON
PESETA
RUPEE
KRONA
FRANC
DOLLAR
BAHT
POUND

DOLLAR

Feb. 5
'

1CURRENCY UNITS PER DOLLAR )
Feb. 8
Feb. 7
Feb. 6

Feb. 9

76.550
11. 770
34. 890
1. 1899
4. 7339
6. 4600
3. 9610
5. 6700
1. 6697
157. 45
7. 8110
16. 950
158. 65
1239. 50
145 .39
2,,7000
1 .8840
59, 980
6 .4580
146 .90
1 .8660
2 .5400
690 .80
107 .93
40 .018
6 .1160
1 .4802
26 .105
25 .740
169 .50

76. 650
11. 690
34. 670
1. 1879
4. 7339
6. 4550
3. 9350
5. 6435
1. 6580
156. 10
7. 8110
16. 950
159. 62
1235,.00
145,,13
2,.7010
1,.8706
60 .100
6 .4450
146 .40
1 .8570
2 .5370
690 .70
107 .55
40 .018
6 .0800
1 .4769
26 .083
25 .710
170 .20

75. 750
11. 665
34. 690
1. 1935
4. 7339
6. 4125
3. 9300
5. 6350
1. 6550
156. 10
7. 8115
16. 950
160.,00
1234,.50
145,.47
2.,7060
1 .8682
59 .360
6 .4300
146 .70
1 .8595
2 .5320
690 .50
107 .53
40 .018
6 .0600
1 .4815
26 .088
25 .710
169 .90

75.450
11. 785
35. 020
1. 1971
4. 7339
6. 4675
3. 9650
5. 6860
1. 6730
157. 00
7. 8120
16. 960
158. 50
1244. 00
145. 40
2,.9060
1..8870
59..150
6..4730
147 .80
1 .8630
2 .5460
691 .00
108 .53
40 .018
6 .1250
1 .4948
26 .119
25 .730
168 .70

74. 930
11. 808
35. 070
1. 1956
4. 7339
6. 4790
3. 9785
5. 6930
1. 6750
158. 05
7. 8110
16. 960
158. 20
1246. 50
145. 20
2,.7055
1..8891
59..300
6,.4715
147 .95
1 .8645
2 .5475
6 .92
108 . 65
40 .018
6 .1385
1 .4970
26 .130
25 .730
169 .25

91 .99

91 .56

91 .59

92 .26

92 .28

*VALUE IS U.S. CENTS
**INDEX OF WEIGHTED AVERAGE EXCHANGE VALUE OF U.S. DOLLAR AGAINST CURRENCIES OF OTHER G-10
COUNTRIES. MARCH 1973 = 100. WEIGHTS ARE 1972-76 GLOBAL TRADE OF EACH OF THE 10 COUNTRIES.
SERIES REVISED AS OF AUGUST 1978. FOR DESCRIPTION AND BACK DATA, SEE "INDEX OF THE
WEIGHTED-AVERAGE EXCHANGE VALUE OF THE U.S. DOLLAR: REVISION" ON PAGE 700 OF THE AUGUST
1978 FEDERAL RESERVE BULLETIN.