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(5 1 6 / 51 7) Selected Interest tk Exchange Rates W eekly Series o f Charts January 28,1980 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 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 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. CHARTS 1. SPOT EXCHANGE RATE INDICES 2. 3-MONTH FORWARD EXCHANGE RATES a 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 197 3= 100 RATIO SCALE MARCH 1 9 7 3= 100 1978 1980 1978 1980 CHART 2 3-M ONTH FORWARD EXCHANGE RATES PREMIUM (+) OR ( - ) AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER ANNUM PERCENT PER ANNUM + 0 24 1978 1980 1978 1980 CHART 3 PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY a s . d LLARS PER FINE OUNCE OUNCE U.S. DOLLARS PER FINE 800 800 750 750 700 700 650 650 600 600 550 550 t2 .5 Kg BARS AFTERNOON FIXING PRICE 500 500 450 450 400 400 350 350 300 300 250 250 200 200 150 150 I_____I 100 1977 1978 i i l i i l i i l i i 1 J I I 1I M l M 1979 1980 100 CHART 4 CALL MONEY RATES WEEKLY SERIES PERCENT PER ANNUM PERCENT PER ANNUM 1978 1980 1978 1980 CHART 5 3-MONTH INTEREST RATES WEEKLY SERIES PERCEN T PER Ah NT PER ANNUM 18 20 14 16 10 12 6 8 2 4 10 14 CANADIAN FINANCE CO. PAPER 10 6 6 2 8 10 LOANS AND DISCOUNTS JAPANESE BANK 6 4 2 0 1978 1980 1978 1980 CHART 6 EURO-DOLLAR DEPOSIT RATES Lo ndo n AVERAGES FOR WEEK ENDING WEDNESDAY PERC EN T PER ENT PER ANNUM 18 18 14 14 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 i 1980 1978 1 P E R C EN T ON D IF F E R E N T IA L SC A LE = 2 PERCENT ON RATE S C A LE 1978 1980 CHART 8 INTEREST ARBITRAGE: 3-M ONTH FUNDS DIFFERENTIAL: PLUS(+), INDICATES FAVOR DOLLAR ASSETS AVERAGES FOR WEEK ENDING WEDNESDAY PER PERCENT ANNUM PER AN 20 20 16 16 12 12 8 8 4 4 0 4 0 2 2 + 0 + 0 2 2 4 16 16 INTERBANK DM CO VERED FRA NKFURT 12 12 8 8 4 4 2 2 + 0 + 0 2 2 1980 1978 1 PERC ENT ON D IF F E R E N T IA L SC A LE = 2 PERCENT ON RATE SC A LE CHART 9 LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES PERCENT PER ANNUM PERCENT PER ANNUM I UNITED STATES JV I - I _ L _ L _ I_ . 1978 iiin liilii 11111111111 1980 1978 1980 CHART 10 INDUSTRIAL STOCK INDICES WEEKLY SERIES RATIO 196 9= 140 UNITED STATES 120 100 80 J_1 RATIO SCALE 1969=100 400 360 JAPAN 320 280 240 200 140 120 100 80 160 140 120 100 80 1978 1980 1978 1980 LAST VALUE PLOTTED DATE VALUE SERIES NAME CHART I . SPOT EXCHANGE RATES AND INDICES WEEKLY AVERAGES, NOON BUYING RATES ( U . S . CENTS) GERMAN MARK JAPANESE YEN DUTCH GUILDER U . K . POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC BELGIAN FRANC IT A L IA N LIRA JAN. JAN. JAN. JAN. JAN. JAN. JAN. JAN. JAN. 23 23 23 23 23 23 23 23 23 57 .87 0.41755 52 .45 227.97 86.16 24.71 62 .46 3.56280 0.12407 JAN. JAN. JAN. JAN. JAN. JAN. JAN. JAN. JAN. 23 23 23 23 23 23 23 23 23 16 2.7 9 109.33 15 0.5 8 92.21 85.8 7 11 1.3 4 200 .9 4 14 0.3 9 70 .48 23 23 23 23 23 23 23 23 23 23 23 85.6 0 154.74 96.36 13 5.9 3 79.88 74.3 8 98 .3 5 180 .77 125 .65 60.1 5 94.22 23 23 23 23 23 23 23 23 0.54 -3 .0 2 5.7 7 1.22 8.7 3 3.17 6.34 -6 .7 8 IN D 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 WEIGHTED AVERAGE EXCHANGE VALUE IN DIC ES , MAR 1973 = 100 ( 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 CHART 2 . 3-MONTH FORWARD EXCHANGE RATES, CANADIAN DOLLAR U . K . POUND GERMAN MARK FRENCH FRANC SWISS FRANC DUTCH GUILDER JAPANESE YEN I T A L I A N LIRA JAN. JAN. JAN. JAN. JAN. JAN. JAN. JAN. JAN. JAN. JAN. PREMIUM OR DISCOUNT JAN. JAN. JAN. JAN. JAN. JAN. JAN. JAN. LAST VALUE PLOTTED DATE VALUE SERIES NAME CHART 3 . GOLD PRICE IN LONDON, AFTERNOON F IX IN G U . S . DOLLARS PER FINE OUNCE JAN. 23 793 .5 0 JAN. JA N. JAN. DEC. JAN. JAN. JAN. JAN. JAN. JAN. 23 23 18 28 18 11 18 18 4 11 13.77 13.73 18.0 0 13.58 8.8 5 7.3 1 7 .9 4 12.31 11 .2 5 4.5 3 JAN. JAN. JAN. JAN. JAN. JAN. JAN. 23 23 23 23 23 23 23 13.3 6 8.8 7 8 .4 0 13.84 1 7.2 0 5.40 11.41 JAN. JAN. JAN. JAN. JAN. JAN. 23 23 23 23 23 23 13..73 13..80 14..05 14..20 14,.18 13..31 OVERNIGHT EURO-DOLLAR DEPOSITS U . S . FEDERAL FUNDS DIF FERENTIAL ADJ. FOR RESERVE REQUIREMENTS JAN. 23 JAN. 23 JAN. 23 13.73 13.77 -0 .0 4 3-MONTH EURO-DOLLAR DEPOSIT RATE U . S . 90-DAY C D ' S , SECONDARY MARKET DIFFERENTIAL JAN. JAN. JAN. 14.2 0 13.3 6 0.8 4 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 23 23 23 SERIES NAME CHART 8 . LAST VALUE PLOTTED DATE VALUE INTEREST ARBITRAGE, 3-MONTH FUNDS EURO-DOLLAR DEPOSIT INTERBANK STERLING (LONDON), COVERED DIFFERENTIAL JAN. 23 JAN. 23 JAN. 23 14.20 14.05 0.1 5 U . S . COMMERCIAL PAPER CANADIAN FINANCE PAPER, COVERED DIFFERENTIAL JAN. 23 JAN. 23 JAN. 23 13.02 14.4 0 -1 .3 8 EURO-DOLLAR DEPOSIT INTERBANK DM (FRANKFURT), COVERED DIFFERENTIAL JAN. 23 JA N. 23 JAN. 23 14 .20 14.77 -0 .5 7 EURO-DOLLAR DEPOSIT SWISS INTERBANK, COVERED DIFFERENTIAL JAN. 23 JAN. 23 JAN. 23 14.20 14.25 -0 .0 5 JAN. 18 DEC. 28 DEC. JAN. 11 DEC. 28 9 NOV. 4 JAN. 4 JAN. 10.71 7.92 8.6 4 4.29 11.23 11 .76 9 .2 0 12 .1 6 DEC. DEC. NOV. 9.6 3 6.63 10.07 CHART 9 . LONG TERM GOVERMENT BOND YIELDS UNITED STATES GERMANY JAPAN (MONTHLY) SWITZERLAND CANADA FRANCE NETHERLANDS UNITED KINGDOM U. S . CORPORATE AAA BONDS EURO-DM BONDS EURO-DOLLAR BONDS CHART 10 . INDUSTRIAL STOCK INDICES UNITED STATES JAPAN CANADA FRANCE UNITED KINGDOM SWITZERLAND GERMANY JAN. 18 4 JAN. DEC. 29 DEC. 28 JAN. 11 4 JAN. DEC. 21 11 6.7 2 304.28 113.81 143.03 10 3.6 7 76 .0 7 93.84
@FedFRASER