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L'BRARY
FEDERAL
tRVE
OE CHlUAGfl
L B
' *AHY
MAR
1
1984
Selected Interest &
Exchange Rates
Weekly Series of Charts
^ February 27, 1984 ,
DIVISION OF
INTERNATIONAL FINANCE
Prepared by the
FINANCIAL 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, 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 1 9 7 3 = 1 0 0
RATIO S C A L E
MARCH 1 9 7 3 = 1 0 0
160
160
FOREIGN CURRENCY
PRICE OF U.S. DOLLAR
140
JAPANESE YEN
—
140
/ ^ X z V
-
120
-
-
100
—
~
120
-
100
I
80
i
i
I
I
|
I
I
I
I l l l l l l l l l l
80
120
100
240
—
_
CANADIAN DOLLAR
80
I
60
I
^
-
—
-
III,Mull,
I
SWISS FRANC
200
f^V/
~i
:
160
120
I
|
180
160
140
120
—
Wr
-VX/
—
GERMAN MARK
100
i
i
DUTCH GUILDER
X
J
-
i
120
100
120
—I
100
-
—
FRENCH FRANC
U.K. POUND
80
60
I
—
50
I
I
I
I
I
11111111111
Illllllllll
80
-
60
I
" i l l
BELGIAN FRANC
I
I
50
I ,i i , I I , i i I I I I I I I I I I I I
— '
80
—
70
—
60
—
50
-
40
11111111111111111111111
30
ITALIAN LIRA
- — -
-
I
1982
—
—
—
I
100
1984
I
I
I
I
1982
I
1984
CHART 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
PREMIUM (+) OR (-)
AVERAGES FOR WEEK ENDING WEDNESDAY
PERCENT PER ANNUM
PERCENT PER ANNUM
6
24
-
CANADIAN DOLLAR
V\Ai ,
' V
ITALIAN LIRA
-
+
0
A
A/L
J
V"\
MIIIIMIM
K
1
U. K. POUND
24
I
DUTCH GUILDER1
—
^
-
-
6
1
9
1
1
1
1
M l M l .,1."
|
6
15
12
SWISS FRANC
-
GERMAN MARK
-
-
1
I
1
1
1
1
1
iiliilnlii
1
1 1 1 1 1 1 1 1 1 1 I
1
FRENCH FRANC
a
JAPANESE YEN
I I I II II I I I
1982
1984
1982
1984
CHART 3
PRICE OF GOLD IN LONDON
AVERAGES FOR WEEK ENDING WEDNESDAY
L L A R S PER FINE OUNCE
U.S. D O L L A R S PER FINE OUNCE
600
550
12.5 Kg BARS
AFTERNOON FIXING PRICE
500
450
400
350
300
250
1981
1982
1983
1984
CHART 4
CALL MONEY RATES
WEEKLY SERIES
PERCENT PER AN
NT PER ANNUM
28
24
\
20
a
FRANCE
U. S. FEDERAL FUNDS
16
W
If
-
12
JAPAN
8
I
4
I
I
i
i
i
24
CANADA
20
EURO-SWISS
FRANC
16
12
8
NETHERLANDS
4
+
0
24
20
16
U. K. 2-DAY LOCAL AUTHORITY
1
GERMANY
-
12
1EURO-DM
gnrJ
8
1
4
1982
1984
1
1
1
1
1982
1
i.hilnln
1984
CHART 5
3-MONTH INTEREST RATES
WEEKLY SERIES
IT PER ANNUM
PERCENT PER Ah
22
24
18
20
U.S. CD'S
CANADIAN FINANCE CO
PAPER
14
16
10
12
WEIGHTED AVERAGE
FOREIGN RATE
6
8
20
16
16
U.K. INTERBANK STERLING
12
GERMAN INTERBANK RATE
12
8
8
4
11
12
I SWISS INTERBANK RATE
9
IV
-
8
JAPANESE BANK
LOANS AND DISCOUNTS
7
4
-
I
5
-
1982
1984
I
1982
0
I
1984
CHART 6
EURO-DOLLAR DEPOSIT RATES
LONDON
AVERAGES FOR WEEK ENDING WEDNESDAY
ANNUM
PERCENT PER
24
24
20
20
OVERNIGHT
3-MONTH
16
12
8
4
24
20
7-DAY
6-MONTH
16
12
8
4
24
20
1-MONTH
1-YEAR
16
12
8
4
1982
1984
1982
1984
^
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
26
26
22
-
FEDERAL FUNDS
18
3-MONTH
22
-
18
-
14
EURO-DOLLAR DEPOSITS
14
OVERNIGHT
10
-
90-DAY CD S
EURO-DOLLAR DEPOSITS
-
10
I IIIIIIIIII
i i Ii i Ii iIi i I IIIIIM III
M i l l
IDIFFERENTIAL
:
DIFFERENTIAL
IIn i.A^/i/wV
[
I
I f f
v
\
Ww W
aAa
A
-
I
I IIIIIIIIII
I
1982
1 PERCENT ON DIFFERENTIAL SCALE = 2 PERCENT ON RATE SCALE
11111111111
111 I I I I I I I I
1984
1982
II
I
II
I
II
1984
I
II
CHART 8
INTEREST ARBITRAGE: 3-MONTH FUNDS
DIFFERENTIAL: PLUS(+), INDICATES FAVOR DOLLAR ASSETS
AVERAGES FOR WEEK ENDING WEDNESDAY
PERCENT PER ANNUM
PERCENT PER ANNUM
— I 28
28
20
S
EURO-DOLLAR DEPOSITS
—
.
20
DASHED LINE
CANADIAN FINANCE
CO. PAPER, COVERED
12
-
-
12
INTERBANK S T E R L I N G ^ \
COVERED LONDON
U. S. COMMERCIAL PAPER
ill
ii h i l l
4
i
2
—
DIFFERENTIAL
—
DIFFERENTIAL
—
l y W v ^
ilk
2
1 1 1
III I I
4
28
28
-
—
SWISS INTERBANK (SF) COVERED
20 A
»
INTERBANK DM
/i / O x
COVERED FRANKFURT
20
\ IV \
™V
1
M2
12
EURO-DOLLAR DEPOSITS
EURO-DOLLAR DEPOSITS
DASHED LINE
—DASHED LINE
1
1
1
11 1 II 1 II 1 1 1
DIFFERENTIAL
DIFFERENTIAL
A
{ u w f
-
A
X ^ / x v x _ / Z V z ^N
1 1 1
1982
.Mi
.
1
1984
1 PERCENT ON DIFFERENTIAL SCALE = 2 PERCENT ON RATE S C A L E
A
+
0
. __
1
1982
1
, , | ,, | |
I I
II I I
I I
1984
II I
CHART 9
LONG-TERM GOVERNMENT BOND YIELDS
WEEKLY SERIES
PERCENT PER ANNUM
PERCENT PER ANNUM
19
19
.
15
UNITED STATES
15
11
I
I
I
I
I
I
I
I I I I I I I I I I I n i l N i l 111
I
I
III III III II
—
15
11
11
—
-
7
:anada
C
» i
J v
„
UNITED KINGDOM
-
SWITZERLAND
—
—
-
I
I IIIII III II
7
I
I II III III I I II III III II
I
13
—
13
MONTHLY
GERMANY
JAPAN
—
-
9
"
I
5
22
U. S. CORPORATE
I
I
I IIIllllI II
I
I
I
I
I
I
I I I I I I I I I I II I I I I I I I I I I
MONTHLY
FRANCE
18
Aaa BONDS
14
EURO-DOLLAR BONDS
"\
V
10
NETHERLANDS
MONTHLY
I I M II I
1982
1984
1
1982
1984
CHART 10
INDUSTRIAL STOCK INDICES
WEEKLY SERIES
RATIO S C A L E
1969=100
RATIO S C A L E
1969=100
240
—
-
UNITED STATES
JAPAN
-
200
f
160
-
^
_/\
120
I
I
iiliilnlii
I
210
210
170
—
170
UNITED KINGDOM
FRANCE
,/Y^V
130
-
130
90
90
lllllllllll
70
I
70
lllllllllll
I
190
—
190
150
I
GERMANY
-
150
SWITZERLAND
-
^
^
110
-
110
-
-
I
70
I
I
I
I
I
lllllllllll
lllllllllll
lllllllllll
360
180
—
CANADA
NETHERLANDS
-
140
100
280
200
-
160
80
60
70
I
I
I ill I III I Illlllllllll
I
I
1982
1984
I
I
I
I
I
1982
I
120
1984
L A S T V A L U E PLOTTED
DAT?
VALUE
SERIES NAME
CHART
1. SPOT E X C H A N G E R A T E S AND I N D I C E S
WEEKLY A V E R A G E S , NOON BUYING B A T E S
(U.S. CENTS)
G E R M A N MARK
J A P A N E S E YEN
DUTCH G U I L D E R
U.K. P O U N D
C A N A D I A N DOLLAR
FRENCH FRANC
SWISS FRANC
BELGIAN FRANC
I T A L I A N LIRA
S W E D I S H KRONA
INDICES, MARCH
1973
BASE R A T E S -
22
22
22
22
22
22
22
22
22
22
37. 29
0 . 42857
33. 04
144. 74
80.13
1 2 . 09
45. 45
81982
0 . 06025
1 2 . 56
FEB.
FEB.
FEB.
FEB.
FEB.
FEB.
FEB.
FEB.
FEB.
22
22
22
22
22
22
22
22
22
104. 90
112. 21
94. 84
58. 54
79. 87
54. 48
146. 21
71. 71
34. 23
22
22
22
22
22
22
22
22
22
22
22
131. 08
136. 81
144. 63
118. 66
70. 11
99. 81
64. 57
184. 62
88. 24
39. 68
67. 97
22
22
22
22
22
22
22
22
0. 16
0.79
4. 17
-5.26
6.49
4.01
3.54
-7.12
1.
100
G E R M A N MARK
J A P A N E S E YEN
DUTCH GUILDER
U.K. POUND
C A N A D I A N DOLLAR
FRENCH FRANC
SWISS F R A N C
BELGIAN FRANC
ITALIAN LIRA
W E I G H T E D A V E R A G E E X C H A N G E V A L U E I N D I C E S , MAR
(G-10 C O U N T R I E S PLUS S W I T Z E R L A N D )
U.S. DOLLAR
G E R M A N MARK
J A P A N E S E YEN
DUTCH G U I L D E R
U.K. P O U N D
C A N A D I A N DOLLAR
FRENCH FRANC
SWISS FRANC
BELGIAN FRANC
I T A L I A N LIRA
S W E D I S H KRONA
FEB.
FEB.
FEB.
FEB.
FEB.
FEB.
FEB.
FEB.
FEB.
FEB.
1973
100
FEB.
FEB.
FEB.
FEB.
FEB.
FEB.
FEB.
FEB.
FEB.
FEB.
FEB.
CHART 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 , PREMIUM OR D I S C O U N T
C A N A D I A N DOLLAR
U.K. P O U N D
G E R M A N MARK
FRENCH FRANC
SWISS F R A N C
DUTCH G U I L D E R
J A P A N E S E YEN
I T A L I A N LIRA
FEB.
FEB.
FEB.
FEB.
FEB.
FEB.
FEB.
FEB.
L A S T V A L U E PLOTTED
DATE
VALUE
SERIES NAME
CHART 3. G O L D PBICE IN LONDON, A F T E B N O O N FIXING
U.S. D O L L A R S PER FINE O U N C E
F E B . 22
387.11
CHART 4. C A L L HONEY BATES
9.60
9.61
9.19
9.70
5.40
5.46
5.75
12.75
10.30
1.25
FEB.
FEB.
FEB.
FEB.
FEB.
FEB.
FEB.
FEB.
JAN.
FEB.
22
22
17
10
17
24
17
17
1
24
FEB.
FEB.
FEB,
FEB.
FEB.
FEB.
FEB.
22
22
22
22
22
22
22
9.63
5.81
6.25
9.85
9. 38
3.45
8.40
FEB.
FEB.
FEB.
FEB.
FEB.
FEB.
22
22
22
22
22
22
9.61
10.00
OVERNIGHT EURO-DOLLAR DEPOSITS
U.S. F E D E R A L F U N D S
D I F F E R E N T I A L ADJ. FOR R E S E R V E R E Q U I R E M E N T S
F E B . 22
F E B . 22
F E B . 22
9. 61
9. 60
01
3 - M O N T H EURO-DOLLAR D E P O S I T R A T E
U.S. 9 0 - D A Y C D ' S , SECONDARY M A R K E T
DIFFERENTIAL
F E B . 22
FEB. 22
FEB, 22
10. 00
9. 63
37
U.S. F E D E R A L FUNDS
O V E R N I G H T EURO-DOLLAR D E P O S I T S
U. K.
CANADA
GERMANY
EUBO-DM
JAPAN
FRANCE
NETHERLANDS
EURO-SWISS FRANC
CHART 5. 3 - M O N T H I N T E R E S T R A T E S
U . S . 90-DAY CD'S, SECONDARY M A R K E T
G E R M A N I N T E R B A N K LOAN
J A P A N E S E BANK L O A N S 6 D I S C O U N T S
C A N A D I A N F I N A N C E PAPER
I N T E R B A N K STERLING
SWISS I N T E R B A N K LOAN
W E I G H T E D A V E R A G E FOREIGN I N T E R E S T R A T E
(G-10 C O U N T R I E S PLUS S W I T Z E R L A N D )
C H A R T 6. E U R O - D O L L A R
DEPOSIT R A T E S : LONDON
OVERNIGHT
7-DAY
1-MONTH
3-MONTH
6-MONTH
1-YEAR
CHART 7. S E L E C T E D EURO-DOLLAR
9.71
9.7Q
10.16
10.59
AND U.S. MONEY M A R K E T R A T E S
0.
0.
#
S E R I E S NAME
HART 8. I N T E R E S T
L A S T V A L U E PLOTTED
DATE
VALOE
A R B I T R A G E , 3 - M O N T H FUNDS
EURO-DOLLAR DEPOSIT
I N T E R B A N K S T E R L I N G (LONDON), C O V E R E D
DIFFERENTIAL
F E B . 22
FEB. 22
FEB. 22
10. 00
10. 18
- 0 . 18
U.S. C O M M E R C I A L PAPER
C A N A D I A N F I N A N C E PAPER, C O V E R E D
DIFFERENTIAL
F E B . 22
F E B . 22
F E B . 22
9. 38
10. 01
- 0 . 63
EURO-DOLLAR DEPOSIT
I N T E R B A N K DM (FRANKFORT), C O V E R E D
DIFFERENTIAL
F E B . 22
FEB. 22
F E B . 22
10. 00
10. 04
- 0 . 04
EURO-DOLLAR DEPOSIT
SWISS I N T E R B A N K , C O V E R E D
DIFFERENTIAL
FEB. 22
F E B . 22
FEB. 22
10. 00
10. 00
0. 00
17
17
11. 85
8. 01
6. 94
4. 52
11. 90
14. 17
8. 57
9. 80
CHART 9. LONG TERM G O V E R M E N T BOND Y I E L D S
UNITED STATES
GERMANY
J A P A N (MONTHLY)
SWITZERLAND
CANADA
FRANCE
N E T H E R L A N D S (MONTHLY)
U N I T E D KINGDOM
FEB.
FEB.
JAN.
FEB.
FEB.
OCT.
NOV.
FEB.
3
10
28
17
U.S. CORPORATE
AAA B O N D S
EURO-DOLLAR
CHART
10.
BONDS
STOCK INDICES
UNITED STATES
U N I T E D KINGDOM
CANADA
GERMANY
SWITZERLAND
NETHERLANDS
FRANCE
JAPAN
12. 20
10. 29
JAN.
NOV.
FEB.
FEB.
FEB.
FEB.
FEB.
FEB.
FEB.
FEB.
15
15
15
15
15
15
15
15
162. 58
179. 53
236. 83
151. 47
123. 19
157. 70
165. 22
202. 72
FEDERAL RESERVE statistical release
u
:*AL
H.10(512)
FEBRUARY 27, 1984
FOREIGN EXCHANGE RATES
FOR THE WEEK ENDING
FEBRUARY 24, 1984
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
ARGENTINA
•AUSTRALIA
AUSTRIA
BELGIUM
BRAZIL
CANADA
CHILE
CHINA, P.R.
COLOMBIA
DENMARK
FINLAND
FRANCE
GERMANY
GREECE
HONG KONG
INDIA
INDONESIA
•IRELAND
ISRAEL
ITALY
JAPAN
MALAYSIA
MEXICO
NETHERLANDS
•NEW ZEALAND
NORWAY
PERU
PHILIPPINES
PORTUGAL
SINGAPORE
•SOUTH AFRICA
SOUTH KOREA
SPAIN
SRI LANKA
SWEDEN
SWITZERLAND
TAIWAN
THAILAND
•UNITED KINGDOM
VENEZUELA
MEMO:
IUNITED STATES
MONETARY
OMIT
PESO
DOLLAR
SCHILLING
FRANC
CRUZEIRO
DOLLAR
PESO
YUAN
PESO
KRONE
MARKKA
FRANC
D. MARK
DRACHMA
DOLLAR
RUPEE
RUPIAH
POUND
SHEKEL
LIRA
YEN
DOLLAR
PESO
GUILDER
DOLLAR
KRONE
SOL
PESO
ESCUDO
DOLLAR
RAND
WON
PESETA
RUPEE
KRONA
FRANC
DOLLAR
BAHT
POUND
BOLIVAR
DOLLAR
FEB. 20
(CURRENCY UNITS PER DOLLAR)
FEB. 22
FEB. 21
28 02
94 00
19. 065
55. 460
1157 00
1. 2498
88. 130
0519
91. 690
9. 8950
5. 7875
3600
7080
102. 350
7. 7965
10. 7400
993. 50
113. 78
131. 620
1672. 00
234. 10
3385
168. 5500
3. 0505
2.
8.
2.
2.
66. 000
7. 7065
2438. 53
14.,0500
135.,000
2. 1305
81.,75
799 .30
154 530
25 290
8 0050
2 2205
40 .230
23 .000
144 .10
13.0000
132.14
28.02
94.15
18.785
54.520
1157.00
1.2479
88.130
2.0519
91.690
9.7380
5.7450
8.2150
2.6625
101.400
7.7935
10.7400
995.00
115.37
133.340
1649.00
233.20
2.3360
169.0000
3.0037
66.150,
7.6275
2438.53
14.0500
133.900
2.1275
82.60
798.70
152.790 1
25.280
7.9300
2.1940
40.240
23.000
145.15
13.0700
130.59
FEB. 23
28.02
94. 43
18. 753
54. 480
1157. 00
1.2494
88.130
0519
91. 690
9. 7520
5. 7135
1975
6615
2.
8.
2.
101. 200
7. 7850
10. 7500
993. 50
115. 70
133. 890
1646. 00
233. 60
3335
169. 5000
3. 0060
66. 230
7. 6220
2438. 53
14. 0500
133. 500
1265
83. 10
799.,30
152. 180
25. 290
7m 9100
2.1930
40. 250
23 .000
145 75
13 0700
2.
2.
130.49
FEB. 24
28.54
94. 35
18. 525
53. 800
1182. 00
1. 2502
88.850
2.
0519
92. 280
9. 6350
5. 6790
1050
6250
8.
2.
101.000
7. 7740
10.7100
995. 00
116.80
134. 680
1631. 50
233. 20
2.3335
171. 6500
2.9655
66.,350
7.,5450
2465 .52
14 0500
132 .250
2 .1260
83 .25
797 .10
151 .000
25 .240
7 8250
2 1740
40 .260
23 .000
147 .25
13 .2000
129.29
#INDEX OF WEIGHTED AVERAGE EXCHANGE VALUE OF U.S. DOLLAR AGAINST CURRENCIES OF OTH^R G-10
COUNTRIES PLUS SWITZERLAND. MARCH 1973 = 100. WEIGHTS ARB 1972-76 GLOBAL TRADE OF EACH
OF THE >0 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.
•VALUE IS U.S. CENTS
@FedFRASER