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(5 1 6 / 51 7 )
Selected Interest
Exchange Rates
W eekly Series o f Charts
January 10, 1983
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
BOARD O F GOVERNORS
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 FIG URES PLOTTED
Weekly $15.00 per year or $.40 each in the United
2. D A IL Y C E R T IF IE D SPOT
EXCHANGE RATES--
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
H.10 RELEASE
CHARTS
1. SPOT EXCHANGE RATE INDICES
2. 3-M ONTH FORW ARD EXCHANGE RATES
3. GOLD PRICE--LONDON
4. C ALL M O NEY RATES
5. 3-M ONTH IN TER EST RATES
6. EURO DOLLAR DEPOSIT RATES
7. SELECTED EURO-DO LLAR AND
U.S. M O NEY M A R K E T RATES
8. INTEREST A R B ITR A G E: 3-M ONTH FUNDS
9. LONG-TERM G O V ER N M EN T BOND Y IE L D S
10. IN D U S T R IA L STOCK INDICES
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
80
70
60
50
40
1981
1983
9/27/82
CHART 2
3-MONTH FORWARD EXCHANGE RATES
PREMIUM (+) OR ( - )
AVERAGES FOR WEEK ENDING WEDNESDAY
ENT PER ANNUM
P E R C E N T P ER A N N U M
6
24
A
f\
CANAD,AN
do llar
+
0
6
. - i - L
- L
.I
, M
iilniiiiii
24
■iiLuliilii
6
+
0
6
12
12
6
+
0
8
+
0
8
16
1981
1983
1981
1983
CHART 3
PRICE OF GOLD IN LONDON
AVERAGES FOR WEEK ENDING WEDNESDAY
U.S. [
U.S. DOLLARS PER FINE OUNCE
ARS PER FINE OUNCE
800
800
750
750
700
700
I
650
650
600
600
550
550
500
500
450
450
400
400
350
350
300
300
250
250
1980
1981
1982
1983
9/13/S3
CHART 4
CALL MONEY RATES
WEEKLY SERIES
PERCENT PER ANNUM
20
Ut K. 2 -’DAY LOCAL AUTHORITY
PERCENT PER ANNUM
GERMANY
16
CHAR T 5
3-MONTH INTEREST RATES
WEEKLY SERIES
ENT PER ANNUM
PERCENT PER
22
24
U. S. CD* S
18
20
14
16
10
12
6
20
8
16
16
12
12
8
8
4
16
12
12
8
8
4
0
4
1981
1983
1981
1983
CHART 6
EURO-DOLLAR DEPOSIT RATES Lo n d o n
AVERAGES FOR WEEK ENDING WEDNESDAY
RFC
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
1 /0 1 /8 2
r
CHART 7
SELECTED EURO-DOLLAR AND U. S. MONEY MARKET RATES
DIFFERENTIAL: PLUS(+), FAVORS BORROWING IN U. S.
AVERAGES FOR WEEK ENDING WEDNESDAY
PER C E N T PER ANNUM
P ER C E N T PER ANNUM
26
22
18
14
10
6
3
2
o+
1
1
2
3
A
1983
1981
1 P E R C E N T ON D I F F E R E N T I A L
SCALE
- 2 P E R C E N T ON R AT E S C A L E
1981
1983
CHART 8
INTEREST ARBITRAGE: 3-MONTH FUNDS
DIFFERENTIAL: PLUS(+), INDICATES FAVOR DOLLAR ASSETS
AVERAGES FOR WEEK ENDING WEDNESDAY
PERCENT PER ANNUM
PERCENT PER ANNUM
28
CANADIAN FINANCE
CO. PAPER, COVERED
20
12
1 PERCENT ON D IF F E R E N T IA L SC A LE = 2 PERCENT ON RATE SC ALE
9 /1 3 /8 2
8
CHART 9
LONG-TERM GOVERNMENT BOND YIELDS
WEEKLY SERIES
*:nuivi
19
19
15
15
11
11
7
7
15
9
11
5
7
1
13
13
9
9
5
5
22
U. S. CORPORATE
22
m o n thly
18
18
14
14
10
10
6
6
1981
1983
9 /1 5 /8 2
Q
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
1 9 6 9 -1 0 0
1969=100
180
180
160
160
140
140
120
120
100
100
140
120
100
60
120
100
60
60
280
240
200
160
120
9 /1 5 /8 2
10
LASS VALUE BLOTTED
DATE
VALUE
SERIES NAME
CHART 1. SPOT EXCHANGE BATES AND INDICES
WEEKLY AVERAGES,
NOON BUYING BATES
{U.S. CENTS)
GERMAN MARK
JAPANESE YE£I
DUTCH GUILDER
U.K. POUND
CANADIAN DOLLAR
FRENCH FBANC
SWISS FRANC
BELGIAN FRANC
ITALIAN LIBA
JAN.
JAN.
JAN,.
JAN.
JAN.
JAN.
JAN.
JAN,.
JAN,.
5
5
5
5
5
5
5
5
5
42.20
0.43104
38. 18
162.GO
81.24
14.90
49-30
2.1448Q
a. 07317
JAN.
JAN.
JAN.
JAN.
JAN.
JAN.
JAN.
JAN,.
JAN.
5
5
5
5
5
5
5
5
5
118.71
112.86
109.62
65. 52
80.97
67. 14
158.62
84.52
41.56
5
5
5
5
5
5
5
5
5
5
5
116.94
142.26
13J1-44
125.84
71.84
90.96
73.58
-182.45
95.37
44.37
67.93
5
5
5
5
5
5
5
5
-1.00
-1..14
3.29
-15.37
5.80
4.00
2.42
-17-45
INDICES, MARCH 1973 BASE RATES = 100
GERMAN MARK
JAPANESE YEN
DUTCH GUILDER
U.K. POUND
CANADIAN DOLLAR
FRENCH FRANC
SWISS FBANC
BELGIAN FBANC
ITALIAN LIBA
WEIGHTED AVERAGE EXCHANGE VALUE INDICES, MAR 1973 = 100
(G-10 COUNTRIES PLUS SWITZERLAND)
U.S. DOLLAR
GEfiNAN MARK
JAPANESE YEN
DUTCH GUILDER
U.K. POUND
CANADIAN DOLLAR
FRENCH FRANC
SWISS FRANC
BELGIAN FRANC
ITALIAN LIBA
SWEDISH KRONA
JAN.
JAN.
JAN.
JAN.
JAN.
JAN.
JAN.
JAN.
JAN.
JAN.
JAN.
CHART 2. 3-MONTH FORWARD EXCHANGE BATES, PREMIUM OR DISCOUNT
CANADIAN DOLLAR
U.K. POUND
GERMAN MARK
FRENCH FRANC
SWISS FRANC
DUTCH GUILDER
JAPANESE YEN
ITALIAN LIRA
JAN.
JAN.
JAN.
JAN.
JAN.
JAN.
JAN.
JAN.
SERIES NAME
LAST VALUE PLOTTED
DATE
VALUE
CHART 3. COLD PRICE IN LONDON, A F T E R N O O N FIXING
U.S. DOLLARS PER FINE OUNCE
JAN.
5
453.47
JAN.
JAN.
DEC.
DEC.
DEC.
DEC.
DEC.
DEC.
JAN.
DEC.
5
5
31
17
31
17
31
31
1
17
10.21
9.82
IQ. 50
10.64
6.50
5.69
6.81
12.94
10.30
1.27
JAN.
JAN.
JAN.
JAN.
JAN.
JAN.
JAN.
5
5
5
5
5
5
5
8.60
6.16
7.00
1Q.04
1Q.44
3.27
8.78
JAN.
JAN.
JAN.
JAN.
JAN.
JAN.
5
5
5
5
5
5
9.82
9.26
9. 04
9.08
9.25
9.49
CHART 4. CALL HONE! RATES
U.S. FED E R A L FUNDS
O V ERNIGHT EURO-DOLLAR DEPOSITS
U.K. 2-DAY LOCAL AUTHORITY DEPOSITS
CANADA
GERMANY
EURO— DM
JAPAN
FRANCE
NETHERLANDS
E U R O - S M I S S FRANC
CHART 5. 3-M O N T H INTEREST R ATE S
U.S. 90-DAY CD'S, SECONDARY MARKET
GERMAN I N TERBANK LOAN
JAPANESE BANK LOANS & DISCOUNTS
CANA D I A N FINANCE PAPER
I N T E R B A N K STERLING
SWISS I N T E R B A N K 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
O V ERNIGHT EURO-DOLLAR DEPOSITS
U.S. FEDERAL FUNDS
DIFFERENTIAL ADJ. FOR R E S E R V E R E Q U I R E M E N T S
JAN.
JAN.
JAN.
5
5
5
9.82
10.21
-0.38
3-MONTH EURO-DOLLAR DEPOSIT RATE
U.S. 90-DAY CD'S, SECONDARY MARKET
DIFFERENTIAL
JAN.
JAN.
JAN.
5
5
5
9.08
8.60
0.48
SERIES NAME
LAST VALUE .BLOTTED
DATE
VALUE
CHART 8 . INTEREST ARBITRAGE# 3—MONTH FUNDS
EURO-DOLLAR DEPOSIT
INTERBANK STERLING (LONDON)# COVERED
DIFFERENTIAL
JAN,.
JAN.
JAN.
5
5
5
9 .€ 8
9 .2 7
-0 .1 9
O .S . COMMERCIAL PAPER
CANADIAN FINANCE PAPER# COVERED
DIFFERENTIAL
JAN.
JAN.
JAN.
5
5
5
8 .4 9
9. 0 2
-0 .5 3
EURO-DOLLAR DEPOSIT
INTERBANK DM (FRANKFURT)# COVERED
DIFFERENTIAL
JAN.
JAN.
JAN.
5
5
5
9 .0 8
9 .5 0
-0 .4 2
EURO-DOLLAR DEPOSIT
SHISS INTERBANK# COVERED
DIFFERENTIAL
JAN.
JAN*
JAN.
5
5
5
9 .0 8
9 .1 2
-0 .0 5
DEC.
DEC.
NOV.
DEC.
DEC.
OCT.
JAN.
DEC.
24
24
1 0 .5 6
7 .8 2
8 .1 3
4 .2 4
1 1 .9 9
1 5 .7 0
1 3 .3 2
1 0 .8 7
CHART 9 . LONG TERM GOVERMENT BOND H E L D S
UNITED STATES
GERMANY
JAPAN (MONTHLY)
SHITZERLAND
CANADA
FRANCE
NETHERLANDS
UNITED KINGDOM
24
17
8
1
17
u S . CORPORATE
AAA BONDS
EURO-DOLLAR BONDS
CHART 1 0 .
NQV.
OCT.
1 1 .6 8
1 1 .6 3
STOCK IN D IC E S
UNITED STATES
UNITED KINGDOM
CANADA
GERMANY
SHITZERLAND
NETHERLANDS
FRANCE
JAPAN
DEC.
DEC.
DEC.
DEC.
DEC.
DEC.
DEC.
DEC.
29
29
29
29
29
29
29
29
1 4 6 .2 8
1 3 0 .5 3
19-1.57
1 0 8 .4 0
9 6 . 08
1 0 0 .8 9
1 0 2 .8 4
1 5 7 .4 3
@FedFRASER