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(5 1 6 / 5 1 7 ) Selected Interest Exchange Rates W se k ly Series o f Charts February 4 ,1 9 8 0 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 GOVERN ORS F E D E R A L R E S E R V E SYSTEM Washington, D .C . 20551 Table o f 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, Divi 2. D A IL Y C ER T IF IE D SPOT EXCHANGE RATES-H.10 RELEASE CHARTS 1. SPOT EXCHANGE RATE INDICES 2. 3-M ONTH FORW ARD EXCHANGE RATES 3. GOLD PR ICE -LONDON 4. C A LL M O NEY RATES 5. 3-M ONTH INTEREST RATES 6. EURO DOLLAR DEPOSIT RATES 7. SELECTED EURO DOLLAR A ND U.S. M O NEY M A RK ET RATES 8. INTEREST ARB ITRA G E: 3-M ONTH FUNDS 9. LONG-TERM G O V ER N M EN T BOND Y IE LD S 10. IN D U S T R IA L 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 R A T IO MARCH R A T IO SCALE MARCH 1973=100 SCALE 1973=100 120 100 80 60 120 100 80 240 200 160 120 160 140 120 100 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 12 6 + 0 6 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 L L A R S P E R F IN E O U N C E 900 900 850 850 800 800 750 750 700 700 650 650 12.5 Kg BARS 600 600 A F T E R N O O N F IX IN G P R IC E 550 550 500 500 450 450 400 400 350 350 300 300 250 250 200 200 150 150 I I I I I l I I I I I 100 1977 1978 1979 1980 100 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 CHART 5 3-MONTH INTEREST RATES WEEKLY SERIES P ER PERCENT ANNUM PER AN 18 20 14 16 10 12 6 8 2 4 10 14 10 6 6 10 2 8 6 4 2 0 1978 1980 1978 1980 CHART 6 EURO-DOLLAR DEPOSIT RATES Londo n AVERAGES FOR WEEK ENDING WEDNESDAY HSKI [N T PER PERCENT ANNUM PER AN 18 18 14 14 OVERNIGHT 10 10 6 6 18 18 14 14 10 10 6 6 18 18 14 14 10 10 6 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 PERCENT PER ANNUM PERCENT PER ANNUM +o 1980 1978 1 PE R C EN T ON D IF F E R E N T IA L SCALE = 2 PERCENT ON RATE SC A LE 1978 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 12 12 8 8 4 4 2 2 DIFFERENTIAL + 0 DIFFERENTIAL + 0 2 2 1978 1980 1978 1 PERC ENT ON D F F E R E N T IA L SCALE = 2 PERC ENT ON RATE S C A LE 1980 CHART 9 LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES ENT PER PERCENT ANNUM PER 12 13 10 11 8 9 6 10 7 6 8 4 6 2 4 0 13 15 11 13 9 11 7 9 5 7 10 12 U. S. CORPORATE m o n thly 10 8 8 6 6 4 1978 1980 CHART 10 INDUSTRIAL STOCK INDICES WEEKLY SERIES RATIO 196 9= 140 UNITED STATES 120 100 80 RATIO SCALE 1969=100 400 100 360 90 JAPAN 320 80 280 70 240 66 200 50 140 140 CANADA DISCONTINUED SERIES 120 120 100 100 80 80 l l I 160 160 140 140 120 120 100 100 80 80 1978 1980 1978 1980 LAST VALUE PLOTTED DATE VALUE SERIES NAME CHART 1 . SPOT EXCHANGE RATES AND INDICES WEEKLY AVERAGES, NOON BUYING RATES ( U . S . German mark JAPANESE YEN DUTCH GUILDER U . K . POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC BELGIAN FRANC I TA L IA N LIRA CENTS) JAN. JAN. JAN. JAN. JAN. JAN. JAN. JAN. JAN. 30 30 30 30 30 30 30 30 30 57.6 0 0.417 36 5 2.1 7 225 .96 86 .10 24.61 61.87 3.54786 0.12387 JAN. JAN. JAN. JAN. JAN. JAN. JAN. JAN. JAN. 30 30 30 30 30 30 30 30 30 162.02 109.28 149.78 91.39 85.82 110.89 199.04 139.80 70.37 30 30 30 30 30 30 30 30 30 30 30 85 .9 5 154 .44 96 .65 135.61 79.38 74.58 98.2 5 179.59 125.51 60.25 94 .2 8 30 30 30 30 30 30 30 30 0.67 -3.01 6 .0 2 1.61 8.6 4 3.24 5 .8 9 -7 .6 7 ) I C E S » MARCH 1973 BASE RATES = 100 GERMAN MARK JAPANESE YEN DUTCH GUILDER U . K . POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC BELGIAN FRANC I TA L IA N LIRA GHTED AVERAGE EXCHANGE VALUE INDIC ES , ( 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 I A N LIRA SWEDISH KRONA MAR 1973 = 100 JAN. JAN. JAN. JAN. JAN. JAN. JAN. JAN. JAN. JAN. JA N. :. 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 JAN. JAN. JAN. JAN. JAN. JA N. JA N. JAN. LAST VALUE PLOTTED DATE VALUE SERIES NAME CHART 3 . GOLD PRICE IN LONDON, AFTERNOON F I X I N G U .S . DOLLARS PER FINE OUNCE JAN. 30 674.85 JAN. JAN. JAN. JAN. JA N. JAN. JAN . JA N. JAN. JAN. 30 30 25 25 25 25 25 25 18 25 13.55 1 3.7 9 17.50 12.85 8.0 0 8.2 0 8 .5 0 12.0 0 11 .20 1.8 5 JA N. JAN. JAN . JA N. JAN . JA N. J AN . 30 30 30 30 30 30 30 13 .40 8.8 1 8.4 8 13.89 17.35 5.65 11 .4 4 JA N. J AN . JAN . JAN. JA N. JAN. 30 30 30 30 30 30 13 .7 9 13.81 14.44 14.41 14 .4 5 13.91 30 30 30 13.79 13.55 0.24 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-10 COUNTRIES PLUS SWITZERLAND) CHART 6 . EURO-DOLLAR DEPOSIT RATES: LONDON OVERNIGHT 7-DAY 1-MONTH 3-MONTH 6-MONTH 1-YEAR CHART 7 . SELECTED EURO-DOLLAR AND U . S . MONEY MARKET RATES OVERNIGHT EURO-DOLLAR DEPOSITS U . S . FEDERAL FUNDS DIF FEREN TIAL ADJ. FOR RESERVE REQUIREMENTS JAN. JAN. J AN . 3-MONTH EURO-DOLLAR DEPOSIT RATE U . S . 90-DAY C D ' S , SECONDARY MARKET DIFFERENTIAL J AN . 30 JA N. 30 JA N. 30 14.41 13.40 1.01 SERIES NAME CHART CHART . INTEREST ARBITRAGE, 3-MONTH FUNDS EURO-DOLLAR DEPOSIT INTERBANK STERLING (LONDON), COVERED DIFFERENTIAL JAN. 30 JAN. 30 JAN. 30 14.41 14.21 0.21 U . S . COMMERCIAL PAPER CANADIAN FINANCE PAPER, COVERED DIFFERENTIAL JAN. 30 JAN. 30 JAN. 30 13.0 6 14.58 -1 .5 2 EURO-DOLLAR DEPOSIT INTERBANK DM (FRANKFURT), COVERED DIFFERENTIAL JAN. 30 JAN. 30 JAN. 30 14.41 1 4.9 6 -0 .5 5 EURO-DOLLAR DEPOSIT SWISS INTERBANK, COVERED DIFFERENTIAL JAN. 30 JAN. 30 JAN. 30 14.41 14.42 -0 .0 0 25 25 10.95 8.1 3 8 .6 4 4.29 11.85 11 .76 9 .4 2 10 .75 . LONG TERM GOVERMENT BOND YIELOS UNITED STATES GERMANY JAPAN (MONTHLY) SWITZERLAND CANADA FRANCE NETHERLANDS UNITED KINGDOM U JAN. JAN. DEC. JAN. JAN. NOV. JAN. JAN. 11 25 9 18 25 . CORPORATE AAA BONDS EURO-DM BONDS EURO-DOLLAR BONDS CHART LAST VALUE PLOTTED DATE VALUE 0. DEC. DEC. NOV. 9 .6 3 6.63 10 .07 INDUSTRIAL STOCK INDICES UNITED STATES JAPAN CANADA FRANCE UNITED KINGDOM SWITZERLAND GERMANY JAN. JAN. DEC. JAN. JAN. JA N. JAN. 25 25 29 11 25 25 25 118.78 307 .9 8 113.81 144.20 106.81 ?6.72 93 .5 6
@FedFRASER