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(5 1 6 / 5 1 7 ) Selected Interest Exchange Rates W e e kly Series of Charts February 25,1980 DIVISION O F IN T E R N A T IO N A L F IN A N C E Prepared by the F IN A N C IA L M A R K E T S S E C T IO N BO A R D O F G O V ER N O R S F E D E R A L R E S E R V E S Y STEM Washington, D .C . 20551 Table o f Contents TABLES SUBSCRIPTION RATES: 1. LATEST FIGURES PLOTTED 2. DAILY CERTIFIED SPOT EXCHANGE RATES-H.10 RELEASE 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 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. 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 »OND 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 R A T IO MARCH R A T IO SCALE M ARCH 1973=100 SCALE 1973=100 120 120 100 100 80 80 FOREIGN CURRENCY PRICE OF U.S. DOLLAR I l l I l II l I I 60 60 180 120 160 140 100 120 80 100 240 200 160 120 160 160 140 120 120 100 100 1978 1980 1978 1980 CHART 2 3-MONTH FORWARD EXCHANGE RATES PREMIUM (+) OR ( - ) AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER PERCENT ANNUM PER ANNUM + 0 24 1978 1980 1978 1980 CHART 3 PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY u.s. c U .S . D O L L A R S P E R F IN E i 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 500 500 450 450 400 400 350 350 300 300 250 250 200 200 150 150 100 100 1977 1978 1979 1980 CHART 4 CALL MONEY RATES WEEKLY SERIES 20 20 16 16 12 12 8 8 4 4 20 20 16 16 12 12 8 8 4 4 0 12 0 8 8 4 4 + 0 0 4 1978 1980 1978 1980 CHART 5 3-MONTH INTEREST RATES WEEKLY SERIES NT PER PERCENT ANNUM PER AN! 18 20 14 16 10 12 6 8 2 4 10 14 10 6 6 10 2 8 .. __ LOANS AND DISCOUNTS JAPANESE BANK S 6 2 4 .....I... J _ J , , , ; . j _ j ......i 1978 - 11111111111 0 n f i i i i i i n 1980 1978 1980 CHART 6 EURO-DOLLAR DEPOSIT RATES Lo ndo n AVERAGES FOR WEEK ENDING WEDNESDAY E NT PER ANNUM 18 14 OVERNIGHT 10 6 18 14 7-DAY 10 6 18 14 10 6 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 ER C E N T PER ANNUM lo+ P ER C EN T PER ANNUM 1 978 1 P E R C E N T ON D IF F E R E N T IA L S C A L E = 2 PERC ENT ON RATE S C A L E 1980 CHART 8 INTEREST ARBITRAGE: 3-M ONTH FUNDS DIFFERENTIAL: PLUS(+), INDICATES FAVOR DOLLAR ASSETS AVERAGES FOR WEEK ENDING WEDNESDAY NT PER PERCENT ANNUM PER AN 20 20 16 16 EURO-DOLLAR DEPOSITS 12 12 8 8 4 4 0 4 0 2 2 + 0 + 0 2 2 4 16 16 INTERBANK DM COVERED FRA NKFURT 12 12 8 8 4 4 2 2 DIFFERENTIAL + 0 DIFFERENTIAL + 0 2 2 1978 1980 1 PERCENT ON DIFFERENTIAL SCALE = 2 PERCENT ON RATE SCALE 1978 1980 CHART 9 LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES PERCENT PER EN T PER ANN UM 14 13 12 11 UNITED STATES 10 9 8 6 7 10 8 4 6 2 4 0 13 15 11 13 9 11 7 9 5 7 12 10 10 8 8 6 6 4 1978 1980 1978 1980 CHART 10 INDUSTRIAL STOCK INDICES WEEKLY SERIES R A T IO 1969= 140 120 100 80 R A T IO SCALE 1969=100 400 100 360 90 JAPAN 320 80 280 70 240 60 200 50 140 140 CANADA 120 D IS C O N T IN U E D S E R IE S 120 100 100 80 80 160 140 120 100 80 1978 1980 1978 1980 SERIES NAME LAST VALUE PLOTTED DATE VALUE 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 IA N LIRA FEB. FEB. FE3. FEB. FEB. FEB. FEB. FEB. FEB. 20 20 20 20 20 20 20 20 20 57.3 6 0.40901 52.07 228.99 86.27 24.48 61.27 3.5 31 10 0.12392 FEB. FEB. FEB. FEB. FEB. FEB. FEB. FEB. FEB. 20 20 20 20 20 20 20 20 20 16 1.3 6 10 7.0 9 149.48 92 .6 2 85.98 110.34 19 7.1 2 139 .1 4 70.4 0 20 20 20 20 20 20 20 20 20 20 20 86.23 154.16 94 .7 6 135 .6 9 80 .79 74.95 97 .99 178.28 125.23 60.45 94.45 20 20 20 20 20 20 20 20 1.0 8 -2 .7 2 6.5 2 2.56 10.21 3.2 3 5.6 5 -3 .9 2 IND IC ES , 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 IA N LIRA GHTED AVERAGE EXCHANGE VALUE IND IC ES , MAR 1973 = 100 ( G -1 0 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 IA N LIRA SWEDISH KRONA CHART FEB. FEB. FEB. FEB. FEB. FEB. FEB. FEB. FEB. FEB. FEB. :. 3—MONTH FORWARD EXCHANGE RATES, PREMIUM OR DISCOUNT CANADIAN DOLLAR U . K . POUND GERMAN MARK FRENCH FRANC SWISS FRANC DUTCH GUILDER JAPANESE YEN I T A L IA N LIRA FEB. FEB. FEB. FEB. FEB. FEB. FEB. FEB. LAST VALUE PLOTTED DATE VALUE SERIES NAME CHART 3 . GOLD PRICE IN LONDON, AFTERNOON F IX IN G FEB. 20 653.75 FEB. FEB. FEB. FEB. FEB. FEB. FEB. FEB. FEB. FEB. 20 20 15 8 15 8 15 15 1 8 14.87 14 .45 17.25 13.4 0 8.20 8.14 8.2 5 1 2.2 5 10.9 0 1.7 2 FE B . FEB. FEB . FEB. FEB . FEB . FEB. 20 20 20 20 20 20 20 14.2 3 8 .8 2 9.0 5 14.11 17.61 4.65 11.66 FEB. FEB. FEB. FEB. FEB. FEB. 20 20 20 20 20 20 14 .4 5 14 .73 14.98 15.2 6 15.33 14.9 6 OVERNIGHT EURO-DOLLAR DEPOSITS U . S . FEDERAL FUNDS DIFFERENTIAL AD J. FOR RESERVE REQUIREMENTS FEB . 20 FEB. 20 FEB . 20 14.45 14.87 -0 .4 2 3-MONTH EURO-DOLLAR DEPOSIT RATE U . S . 90-DAY C D ' S , SECONDARY MARKET DIFFERENTIAL FEB. 20 FE 8. 20 FEB. 20 15 .26 14 .23 1.0 3 U . S . OOLLARS PER FINE OUNCE CHART 4 . 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 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—Y EAR CHART 7 . SELECTED EURO-DOLLAR AND U . S . MONEY MARKET RATES SERIES NAME CHART 8 . LAST VALUE PLOTTED DATE VALUE INTEREST ARBITRAGE* 3-MONTH FUNDS EURO-DOLLAR DEPOSIT INTERBANK STERLING (LONDON)* COVERED DIFFERENTIAL FEB. 20 FEB. 20 FEB. 20 15,.26 14,.78 0,.49 U . S . COMMERCIAL PAPER CANADIAN FINANCE PAPER, COVERED DIFFERENTIAL FEB. 20 FEB . 20 FEB. 20 13,.64 15,,23 - 1 , .59 EURO-DOLLAR DEPOSIT INTERBANK DM (FRANKFURT), COVERED DIFFERENTIAL FEB. 20 FEB. 20 FEB. 20 15,.26 15,.49 - 0 , .22 EURO-DOLLAR DEPOSIT SWISS INTERBANK* COVERED DIFFERENTIAL FEB. 20 FEB. 20 FEB. 20 15,.26 14,.98 0..28 FEB. 15 FEB. 8 JAN. FEB. 8 FEB. 8 9 NOV. FEB. 1 FEB. 15 12.01 8.20 8.5 0 4.59 12 .43 11.76 9.5 3 1 0.8 6 JAN. DEC. DEC. 11 .0 9 6.63 10.13 CHART 9 . LONG TERM GOVERMENT BOND YIELDS UNITED STATES GERMANY JAPAN (MONTHLY) SWITZERLAND CANADA FRANCE NETHERLANDS UNITED KINGDOM u . s . Corporate AAA BONDS EURO-DM BONDS EURO-DOLLAR BONDS CHART 10. INDUSTRIAL STOCK INDICES UNITED STATES JAPAN CANADA FRANCE UNITED KINGDOM SWITZERLAND GERMANY FEB. 15 FEB. 15 DEC. 29 FEB. 1 FEB. 15 FEB. 15 JAN. 25 124.16 312 .4 6 113.81 15 0.1 0 11 4.0 5 7 9.4 5 93.56
@FedFRASER