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(516/517) Selected Interest & Exchange Rates W e e kly Series o f Charts February 28 ,19 83 Prepared by the F IN A N C IA L M A R K E T S S E C T IO N DIVISION O F IN T E R N A T IO N A L F IN A N C E BO A R D O F GOVERN ORS F E D E R A L R E S E R V E SYSTEM Washington, D .C . 20551 Table of 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 CHARTS 1. SPOT EXCHANGE RATE INDICES 2. 3-MONTH FORWARD EXCHANGE RATES 3. GOLD PR ICE-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 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. 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 1981 1983 1981 1983 CHART 2 3-MONTH FORWARD EXCHANGE RATES PREMIUM (+) OR ( - ) AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER ANNUM PERCENT PER ANNUM +oi <o (o 12 +01 6 «o + 0 cm 6 18 eg 12 8 +01 0 oo 4-01 1981 1983 1981 1983 CHART 3 + PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY u.s. c PER FINE OUNCE OUNCE U.S. DO LLARS PER FINE 800 800 750 750 700 7 00 650 650 600 600 550 550 500 500 450 450 400 400 350 350 300 300 250 250 1980 1981 1982 1983 CHART 4 CALL MONEY RATES WEEKLY SERIES 20 16 12 8 4 0 1981 1983 1981 1983 CHART 5 3-MONTH INTEREST RATES WEEKLY SERIES :n t PERCENT PER M per an n um 22 24 18 20 14 16 10 12 6 20 8 16 16 12 12 8 8 4 12 16 8 12 8 4 4 0 1981 1983 1981 1983 CHART 6 EURO-DOLLAR DEPOSIT RATES London AVERAGES FOR WEEK ENDING WEDNESDAY ENT PER ANNUM PERCENT PER 24 24 20 20 16 16 12 12 8 8 4 4 24 24 20 20 16 16 12 12 8 8 4 4 24 24 20 20 16 16 12 12 8 8 4 4 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 ANN UM io+ PER C EN T PER ANNUM 1981 ,1 P E R C E N T ON D IF F E R E N T IA L SCALE 1983 = 2 PERCENT ON RATE SCALE 1981 1983 CHART 8 INTEREST ARBITRAGE: 3-M ONTH FUNDS DIFFERENTIAL: PLUS(+), INDICATES FAVOR DOLLAR ASSETS AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER ANNUM PERCENT PER ANNUM 28 20 12 4 2 ♦ 0 2 4 28 20 12 4 2 4- 0 2 1981 1983 1 PERCENT ON D IF F E R E N T IA L S C A LE = 2 PERC ENT ON RATE S C A LE CHART 9 LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES PERCENT PER NT PER ANNUM 19 19 UNITED STATES 15 15 11 11 7 7 15 9 11 5 1 7 13 13 M O NTHLY JAPAN 9 9 5 5 22 22 18 18 14 14 10 10 6 6 1981 1983 1981 1983 CHART 10 INDUSTRIAL STOCK INDICES WEEKLY SERIES R A T IO S C A L E R A T IO S C A L E 1969=100 1969=100 180 160 140 120 100 130 120 110 100 90 80 120 100 80 60 280 240 200 160 120 1981 1983 1981 1983 SE R IE S LAST VALUE PLOTTED DATE VALUE NAME C H A R T 1. S P O T E X C H A N G E R A T E S AND IN DI CE S WE E K L Y A V E R A G E S , N O O N 8 U Y I N G R A T E S (U.S. CENTS) G E R M A N MARK J A P A N E S E YEN DUTCH GUILDER U . K . POUND CANADIAN DOLLAR F R E N C H FR AN C S W I S S FRANC B E L G I A N FRANC I T AL IA N LIRA INDICES, MA RC H FEB. FEB. FEB. FEB. FEB. FEB. FEB. FEB. FEB. 23 23 23 23 23 23 23 23 23 41.57 0.42751 37.61 153.54 81 . 5 4 14.65 49.73 2.10629 0.07194 FEB. FEB. FEB. FEB. FEB. FEB. FEB. FEB. FEB. 23 23 23 23 23 23 23 23 23 116.95 111. 94 107.97 62 .1 0 81.27 66.02 160.00 83.00 40.87 23 23 23 23 23 23 23 23 23 23 23 118.93 141.97 132.19 125.59 68.71 92.64 73.29 186.62 94.88 44 . 2 0 67.64 23 23 23 23 23 23 23 23 -0,,*t5 -2..13 3..52 -13..39 6..08 4.►27 2..38 -12..78 1973 BASE RATES = 100 G E R M A N MA RK J A P A N E S E YE N DUTCH GUILDER U.K. POUND CANADIAN DOLLAR F R E N C H FRANC SWISS FRANC B E L G I A N FR A N C ITAL IA N LIRA W E I G H T E D A V E R A G E EX C H A N G E VALUE INDICES, MA R 1973 = 100 (G-10 C O U N T R I E S PL US SW IT 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 GUILDER U.K. POUND CANADIAN DOLLAR F R E N C H FR AN C S W I S S FRANC B E L G I A N FRANC ITAL IA N LIRA S W E D I S H KR ON A C H A R T 2. 3 - M O N T H F O R W A R D E X C H A N G E RATE S, CANADIAN DOLLAR U.K. POUND G E R M A N MARK F R E N C H FRANC SW IS S FRANC DUTCH GUILDER 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. FEB. FEB. FEB. P R E M I U M OR DISCOUNT FEB. FEB. FEB. FEB. FEB. FEB. FEB. FEB. LAST VALUE PLOTTED DATE VALUE S E R I E S NAME C H A R T 3. G O L D PRICE U.S. D O LL AR S IN LO ND ON , AFTERNOON FIXING PER FINE OUNCE FEB. 23 493.70 FEB. 2 3 FEB. 23 FEB. 18 4 FEB. FEB. 18 FEB. 18 FEB. 18 FEB. 18 JAN. 1 FEB. 18 8 «.47 8..04 11..50 9..57 5.►50 5,.48 6..50 12..94 10..30 0..90 FEB. FEB. FEB. FEB. FEB. FEB. FEB. 23 23 23 23 23 23 23 8.43 5.71 6.84 9.39 11.34 2.88 8. 6 0 FEB. FEB. FEB. FEB. FEB. FEB. 23 23 23 23 23 23 8.84 8.85 8.86 9.01 9 . 21 9.53 OVERNIGHT EURO-DOLLAR DEPOSITS U.S. FEDE RA L FUNDS 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 FEB. 23 FEB. 23 FEB. 23 8.84 8 .47 0.37 3 - M O N T H E U R O - D O L L A R D E P O S I T RATE U.S. 90-DAY CD'S, S E C O N D A R Y M A R K E T DIFFERENTIAL FEB. 23 FEB. 23 FEB. 23 9.01 8 . 43 0.38 CHART 4. C A L L MO NE Y RATES U.S. FE DE RA L FUNDS OVERNIGHT EURO-DOLLAR DEPOSITS U.K. 2- DA Y LOCAL A U T H O R I T Y D E P O S I T S CANADA GERMANY EURO-DM JAPAN FRANCE NETHERLANDS E U R O - S W I S S FRANC C H A R T 5. 3 - M O N T H I N T E R E S T RATES U.S. 90 -DAY CD'S, S E C O N D A R Y M A R K E T G E R M A N IN T E R B A N K LOAN J A P A N E S E BA NK LO AN S 6 D I S C O U N T S C A N A D I A N FINA NC E PAPER INTERBANK STERLING SWISS I N T E R B A N K LOAN W E I G H T E D A V ER AG E FOREIGN IN TE RE ST 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 D E P O S I T RATES: LOND ON OVERNIGHT 7 — DAY 1- M O N T H 3 - M ON TH 6 -MONTH 1 - YE AR C H A R T 7. S E L E C T E D E U R O - D O L L A R A N D U . S . MO NE Y M A R K E T RATES S E R IE S CHART 8 . NAME INTEREST ARBITRAGE, LAST VALUE PLOTTEO DATE VALUE 3-MONTH FUNDS EURO-DOLLAR DEPOSIT INTERBANK STERLING (LONDON), COVERED D IF F ER EN TI AL FEB. 23 FEB. 23 FEB. 23 9,.01 9..15 —0«.14 U . S . COMMERCIAL PAPER CANADIAN FINANCE PAPER, COVERED DIF FE REN TIA L FEB. 23 FEB. 23 FEB. 23 8..25 8.► 92 - 0 , .68 EURO-DOLLAR DEPOSIT INTERBANK DM (FRANKFURT), COVERED DIF FE REN TIA L FEB. 23 FEB. 23 FEB. 23 9,.01 9,,28 —0,.27 EURO-DOLLAR DEPOSIT SWISS INTERBANK, COVERED DIFFER ENT IAL FEB. 23 FEB. 23 FEB. 23 9,► 01 99 8.► 0,.02 CHART 9 . LONG TERM GOVERMENT BOND YIELDS UNITED STATES GERMANY JAPAN (MONTHLY) SWITZERLAND CANADA FRANCE NETHERLANDS UNITED KINGDOM FEB. FEB. JAN. FEB. FEB. DEC. JAN. FEB. 18 9 4 4 10 1 18 10 .7 5 7 .7 6 7.77 4.23 12.21 15.49 11.12 10.46 . CORPORATE AAA BONDS EURO-DOLLAR BONDS CHART 1 0 . JAN. DEC. 11.79 11.28 STOCK INDICES UNITEO STATES UNITED KINGDOM CANADA GERMANY SWITZERLAND NETHERLANDS FRANCE JAPAN FEB. 16 FEB. 16 FEB. 16 FEB. 16 FEb. 16 FEB. 16 FEB. 16 FEB. 16 155,.58 144,.22 212..69 111..50 103..05 66 112.► 106,.56 156,.51
@FedFRASER