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Selected Interest &
Exchange Rates
Weekly Series of Charts
January 19, 1981
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 RATESH.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
a 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 SCALE
MARCH=1973= 100
CANADIAN DOLLAR
FOREIGN CURRENCY
PRICE OF U.S. DOLLAR
I I I II I II I I I
FRENCH FRANC
-
100
-
200
GERMAN MARK
160
140
AA
-
-
V
120
—
100
-
JAPANESE YEN
—
fyf
160
80
SWISS FRANC
-
I
I
I
I
I
,7
I
120
160
160
BELGIAN FRANC
140
140
120
120
DUTCH GUILDER
100
100
11
100
100
ITALIAN LIRA
-
I
U.K. POUND
i
1979
1981
i
i
— a .
I
I
1979
^
I
1981
-
80
-
60
CHART 2
3-MONTH FORWARD EXCHANGE RATES
PREMIUM (+) OR (-)
AVERAGES FOR WEEK ENDING WEDNESDAY
PERCENT PER A t
:ENT PER ANNUM
6
CANADIAN DOLLAR
+
0
6
:,y
ITALIAN LIRA
-
I
I
I
I
I
I
24
-
0
24
6
12
DUTCH GUILDER
U. K. POUND
0
6
6
0
12
6
18
12
GERMAN MARK
SWISS FRANC
-
1
-
f
Kj
12
6
6
0
I
I
I
I
I
I
0
12
12
JAPANESE YEN
FRENCH FRANC
6
6
0
0
6
I I I IIII I I I
1979
6
1981
1979
1981
CHART 3
PRICE OF GOLD IN LONDON
AVERAGES FOR WEEK ENDING WEDNESDAY
U.S. D
PER FINE OUNCE
U.S. DOLLARS PER FINE
UNCE
BOO
800
750
750
700
700
650
650
600
600
550
550
500
500
12.5 Kg BARS
AFTERNOON FIXING PRICE
450
450
400
400
350
350
300
300
250
250
200
200
150
150
100
100
1978
1979
1980
1981
CHART 4
CALL MONEY RATES
WEEKLY SERIES
PERCENT PER A!
:NT PER ANNUM
28
28
24
24
U. K. 2-DAY LOCAL AUTHORITY
U. S. FEDERAL FUNDS
20
20
16
16
12
12
8
8
LLLLLLLLLLL
4
4
24
24
20
20
16
EURO-SWISS FRANC
16
CANADA
12
12
8
8
NETHERLANDS
4
4
+
+
0
0
16
16
FRANCE
12
12
GERMANY
8
8
JAPAN
4
4
EURO-DM
0
0
1979
1981
1979
1981
CHART 5
3-MONfH INTEREST RATES
WEEKLY SERES
NT PER ANNUM
PERCENT PER A^ JUM
20
20
U.S. CD'S
16
16
12
12
UK. INTERBANK STERLING
8
a
WEIGHTED AVERAGE
FOREIGN RATE
4
4
22
t6
18
CANADIAN FINANCE CO. PAPER
12
GERMAN INTERBANK RATE
14
8
10
4
6
0
16
12
LOANS AND DISCOUNTS
JAPANESE BANK
SWISS INTERBANK RATE
12
8
8
4
viVi
4
1979
1981
0
1979
1981
CHART 6
EURO-DOLLAR DEPOSIT RATES
LONDON
AVERAGES FOR WEEK ENDING WEDNESDAY
PERCENT PER AH
ENT PER ANNUM
24
20
3-MONTH
OVERNIGHT
16
12
8
i U r n
4
11 i
24
20
7-DAY
6-MONTH
1-MONTH
1-YEAR
16
12
8
4
24
20
-
16
-
12
-
8
I
4
1979
1981
I
I
I
I
1979
I
1981
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
m
FEDERAL FUNDS
18
3-MONTH
E U R O - D O L L A R DEPOSITS
%S
10
OVERNIGHT
90-DAY CO'S
E U R O - D O L L A R DEPOSITS
I I I I I
J _ J
I I
,1
I i l l
6
11111
2
DIFFERENTIAL
DIFFERENTIAL
>
-
-
o
1
2
3
I
1979
1 PERCENT ON D I F F E R E N T I A L S C A L E = 2 P E R C E N T ON RATE S C A L E
1961
I
I
I
I
I
1979
II
I
II
I
I I
I
II I
I
I I
1981
I
I I
I
I 4I
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
EURO-DOLLAR DEPOSITS
20
n
j
fr'
// . r ~
INTERBANK STERLING
{
fl
w
12
k
l
•
if
y
—
/
-
12
U. S. COMMERCIAL PAPER
COVERED LONDON
I
I
I
i i i
111111111111
4
2
DIFFERENTIAL
' I
DIFFERENTIAL
1
1
1
1
1
1
h Infill n
INTERBANK DM
COVERED FRANKFURT
20
12
EURO-DOLLAR DEPOSITS
I
I
li
EURO-DOLLAR DEPOSITS
llllllll
DIFFERENTIAL
DIFFERENTIAL
1979
1981
1 PERCENT ON D I F F E R E N T I A L S C A L E = 2 P E R C E N T ON RATE S C A L E
1979
1981
CHART 9
LONG-TERM GOVERNMENT BOND YIELDS
WEEKLY SERIES
PEP ENT PER ANNUM
PERCENT PER AL
15
15
CANADA
UNITED STATES
13
13
—
—
11
11
9
-
I
7
I
I
9
7
10
7
SWITZERLAND
8
GERMANY
-
5
—
6
3
I
4
I
i
11111111111 M l M l M l M
16
1
17
FRANCE
14
15
UNITED KINGDOM
12
13
10
11
8
9
NETHERLANDS
6
14
7
U. S. CORPORATE
12
13
MONTHLY
MONTHLY
JAPAN
11
Aaa B O N D S
10
8
9
7
E U R O - D O L L A R BONDS
6
5
1979
1981
1979
1981
CHART 10
INDUSTRIAL STOCK INDICES
WEEKLY SERES
RATIO
1969=
RATIO
196
CALE
)0
180
160
140
UNITED STATES
120
GERMANY
100
80
400
360
SWITZERLAND
320
280
240
200
200
180
160
UNITED KINGDOM
140
120
FRANCE
G E N E R A L INDEX
100
80
1979
1981
1979
1981
SERIES
CHART
L A S T V A L U E PLOTTED
DATE
VALUE
NAME
1. S P O T E X C H A N G E R A T E S A N D I N D I C E S
WEEKLY
A V E R A G E S , NOON
BUYING R A T E S
(U.S. C E N T S )
G E R M A N MARK
J A P A N E S E YEN
DUTCH GUILDER
U.K. POUND
CANADIAN DOLLAR
FRENCH FRANC
SWISS FRANC
BELGIAN FRANC
ITALIAN LIRA
I N D I C E S , M A R C H 1973
BASE RATES =
WEIGHTED AVERAGE EXCHANGE VALUE INDICES,
(G-10 C O U N T R I E S PLUS S W I T Z E R L A N D )
MAR
50..41
0.,49254
46.,36
239..72
84..08
21.,79
55..59
3..13299
0..10611
JAN.
JAN.
JAN.
JAN.
JAN.
JAN.
JAN.
JAN.
JAN.
14
14
14
14
14
14
14
14
14
141..80
128..96
133..09
96..96
83..80
98..20
178..83
123..46
60..28
14
14
14
14
14
14
14
14
14
14
14
90. 73
138. 56
122. 03
125. 08
88. 82
76. 11
8 9 . 97
168. 07
115. 17
53. 40
92. 79
J A N . 14
J A N . 14
J A N . 14
J A N . 14
J A N . 14
J A N . 14
J A N . 14
J A N . 14
1.16
3.87
8.94
6.70
12.62
8.63
9.45
0.90
1973 = 100
JAN.
JAN.
JAN.
JAN.
JAN.
JAN.
JAN.
JAN.
JAN.
JAN.
JAN.
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
FRENCH FRANC
SWISS FRANC
BELGIAN FRANC
ITALIAN LIRA
SWEDISH KRONA
CANADIAN DOLLAR
U.K. POUND
G E R M A N MARK
FRENCH FRANC
SWISS FRANC
DUTCH GUILDER
J A P A N E S E YEN
ITALIAN LIRA
14
14
14
14
14
14
14
14
14
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 FRANC
BELGIAN FRANC
ITALIAN LIRA
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
JAN.
JAN.
JAN.
JAN.
JAN.
JAN.
JAN.
JAN.
JAN.
, PREMIUM
OR
DISCOUNT
SERIES
C H A R T 3. G O L D
LAST Vft-LOE P L O T T E D
DATE
VALUE
NAME
P R I C E IN L O N D O N , A F T E R N O O N F I X I N G
U . S . D O L L A R S PER F I N E O U N C E
. CALL
14
566.75
J A N . 14
J A N . 14
9
JAN.
JAN.
2
9
JAN.
JAN.
2
9
JAN.
JAN.
9
DEC. 12
JAN.
2
19.64
20.34
13.75
17.17
9.05
8.92
8.75
10.75
7.85
3.88
J A N . 14
J A N . 14
J A N . 14
J A N . 14
J A N . 14
J A N . 14
J A N . 14
17. 13
9. 39
9. 0 4
16. 80
14. 21
5. 50
11. 3 6
J A N . 14
J A N . 14
J A N . 14
J A N . 14
J A N . 14
J A N . 14
20.34
20.09
19.80
18,06
16.69
15.29
JAN.
MONEY PATES
U . S . F E D E R A L FUNDS
OVERNIGHT EURO-DOLLAR DEPOSITS
U.K. 2-DAY LOCAL AUTHORITY DEPOSITS
CANADA
GERMANY
EURO-DM
JAPAN
FRANCE
NETHERLANDS
EURO-SWISS FRANC
C H A R T 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 MARKET
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 S 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
INTERBANK STERLING
SWISS INTERBANK LOAN
W E I G H T E D AVERAGE FOREIGN INTEREST 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 F T 6. E U R O - D O L L A R
DEPOSIT RATES: LONDON
OVERNIGHT
7-DAY
1-MONTH
.
3-MONTH
6-MONTH
1-YEAR
C H A R T 7. S E L E C T E D E U R O - D O L L A R
OVERNIGHT EURO-DOLLAR
U . S . FEDERAL FUNDS
D I F F E R E N T I A L A D J . FOR
AND U.S. MONEY MARKET R A T E S
DEPOSITS
RESERVE REQUIREMENTS
3-MONTH EURO-DOLLAR DEPOSIT RATE
U.S. 90-DAY CD'S, SECONDARY MARKET
DIFFERENTIAL
JAN.
JAN.
JAN.
14
14
14
20. 34
19. 64
70
JAN.
JAN.
JAN.
14
14
14
18. 06
17. 19
87
0.
0.
L A S T V A L U E PLOTTED
DATE
VALUE
SERIES NAME
CHJPT
9. I N T E R E S T A R B I T R A G E , 3 - M O N T H F U N D S
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
JAN.
JAN.
JAN.
14
14
14
18..06
18.,22
-0..16
U . S . C O M M E R C I A L PAPER
CANADIAN FINANCE PAPER,
DIFFERENTIAL
JAN.
JAN.
JAN.
14
14
14
16..69
18.00
-1..32
EURO-DOLLAR DEPOSIT
I N T E R B A N K DM ( F R A N K F U R T ) , C O V E R E D
DIFF3RENTIAL
J A N . 14
J A N . 14
J A N . 14
18..06
18..54
-0..47
EURO-DOLLAR DEPOSIT
SWISS INTERBANK, COVERED
DIFFERENTIAL
J A N . 14
J A N . 14
J A N . 14
18..06
18..29
-0..23
JAN.
9
JAN.
2
NOV.
DEC. 19
JAN.
2
N O V . 14
DEC. 12
JAN.
9
12..31
9..03
9..52
4..73
12..67
14..23
10..36
11..58
NOV.
DEC.
OCT.
12.97
6.63
11.27
COVERED
C H A R T 9. L O N G T E R M C O V E R MBNT B O N D Y I E L D S
UNITED STATES
GERMANY
J A P A N (MONTHLY)
SWITZERLAND
CANADA
FRANCE
NETHERLANDS
UNITED KINGDOM
U.S. C O R P O R A T E
AAA B O N D S
EURO-DM BONDS
E U R O - D O L L A R BONDS
CHART
10.
INDUSTRIAL STOCK
UNITED STATES
JAPAN
FRANCE
UNITED KINGDOM
SWITZERLAND
GERMANY
INDICES
JAN.
9
JAN.
9
DEC. 26
9
JAN.
JAN.
9
JAN.
9
141..62
331..68
154..30
109..62
75..99
95..17
m
• «QL££5*>"
FEDERAL RESERVE statistical release
H. 10 (512)
JANUARY
FOREIGN EXCHANGE RATES
FOR T H E WEEK ENDING
J A N U A R Y 16,
16, 1981
1981
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
AUSTRALIA
AUSTRIA
BELGIUM
CANADA
DENMARK
FINLAND
FRANCE
GERMANY
INDIA
IRELAND
ITALY
JAPAN
MALAYSIA
M E X I CO
NETHERLANDS
NEW Z E A L A N D
NORWAY
PORTUGAL
S O U T H AFRICA
SPAIN
SRI L A N K A
SWEDEN
SWITZERLAND
UNITED KINGDOM
(RATE U . S . C E N T S
J A N . 14
MONETARY
UNIT
J A N . 12
JAN. 13
DOLLAR
SCHILLING
FRANC
DOLLAR
KRONE
MARKKA
FRANC
D. MARK
RUPEE
POUND
LIRA
YEN
DOLLAR
PESO
GUILDER
DOLLAR
KRONE
SSCUDO
RAND
PESETA
RUPEE
KB ON A
FRANC
POUND
118.0000
7.11744
3.12793
84.0760
16.3733
26.0146
21.7960
50,3728
12.6100
188.5000
0.10616
0.48996
44.9035
4.2772
46.3070
96.2500
19.3517
1.8815
133.8500
1.2508
5.9701
22.6706
55.4017
239.7000
117.9300
7.06 714
3. 10463
34.0124
16.2602
25.8732
21.6029
49.9875
12.5200
186.8000
0. 10504
0.49189
44.6927
4.2781
45.9559
96.0000
19.2641
1.8622
133.3000
1.2385
5.9701
22.5124
55. 1877
238.8000
118.0800
7.08717
3.11624
83.9701
16.3332
25.9370
21.6732
50.1882
12.5500
187.3500
0.10543
0.49249
44.9135
4.2735
46.1467
96.0000
19.3013
1.9664
133.7500
1.2418
5.9701
22.5912
55.3404
240.2500
J A N . 15
J A N . 16
118.1500
7.06714
3. 10752
84.0478
16.2549
25.8098
21.5889
49.9875
12. 5600
187.3000
0.10518
0.49566
44.8833
4.2753
45.9559
96.1000
19.2234
1.8622
133.6000
1.2385
5.97 01
22.5327
55.0813
240.0500
117.8800
6.99301
3.09789
83.8997
16.1996
25.7135
21.5517
49.8256
12.5500
195.3000
0.10455
0.49285
44.9640
4.2753
45.8821
95.9700
19.1022
1.8553
133.3000
1.2338
5.9701
22.4719
54.884 8
239.3500
@FedFRASER