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Selected Interest & Exchange Rates Weekly Series of Charts June 1,1981 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 RATES-H.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 8. 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 1 9 7 3 = 1 0 0 120 120 - 100 U.K. POUND 100 - / 80 - 80 FOREIGN CURRENCY PRICE OF U.S. DOLLAR I I I I I J I I I 60 I FRENCH FRANC GERMAN MARK V 120 - JAPANESE YEN - A/f 100 SWISS FRANC 80 160 I I I I I I 11111111111 — — a y"~\ A /v-x. 140 120 , 11111,11 ~ — DUTCH GUILDER V - — — BELGIAN FRANC a / A — \ - 100 100 , , 111111111 100 100 60 I ' CANADIAN DOLLAR I 40 ITALIAN LIRA - 80 1979 1981 I I \ I I I I I I I I I I I 1979 1981 - 80 - 60 40 CHART 2 3-MONTH FORWARD EXCHANGE RATES PREMIUM (+) OR (-) AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER ANNUM PERCENT PER ANNUM 6 24 CANADIAN DOLLAR A A ITALIAN LIRA - V I I I i J X-Jj \AAV U. K. POUND 12 I I I I I i i II - V :I y 24 K iy 12 DUTCH GUILDER - - 6 I 18 GERMAN MARK SWISS FRANC 1 12 - I I I I I I 1 1 1 1 1 1 6 0 12 JAPANESE YEN FRENCH FRANC 1979 1981 1979 1981 # CHART 3 PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY U.S. D U.S. DOLLARS PER FINE ( UNCE .LARS PER FINE OUNCE 800 800 750 750 700 700 650 650 600 600 550 550 500 500 12.5 Kg BARS AFTERNOON FIXING PRICE 450 450 400 400 350 350 300 300 250 250 200 200 150 150 I I I I I I I I I I I 100 1978 1979 1980 I I I I I I I 1981 100 CHART 4 CALL MONEY RATES WEEKLY SERIES PERCENT PER M :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 4 4 24 24 20 20 16 16 CANADA 12 12 EURO-SWISS FRANC 8 8 4 4 NETHERLANDS + + 0 0 24 24 20 20 FRANCE 16 16 GERMANY 12 12 8 8 JAPAN 4 4 EURO-DM 0 0 1979 1981 1979 1981 CHART 5 3-MONTH INTEREST RATES WEEKLY SERIES NT PER ANNUM PERCENT PER AN 20 20 U. S. CD' S 16 16 12 12 U.K. INTERBANK STERLING 8 8 WEIGHTED AVERAGE FOREIGN RATE 4 4 22 16 18 12 GERMAN INTERBANK RATE CANADIAN FINANCE CO. PAPER A 14 8 10 4 6 0 16 12 JAPANESE BANK LOANS AND DISCOUNTS SWISS INTERBANK RATE 12 IV - 8 JI 4 1979 1981 1979 I - 8 — 4 0 1981 CHART 6 EURO-DOLLAR DEPOSIT RATES LONDON AVERAGES FOR WEEK ENDING WEDNESDAY ENT PER ANNUM PERCENT PER AL 24 20 24 OVERNIGHT 3-MONTH 20 16 16 12 12 8 8 4 4 24 24 6-MONTH 7-DAY 20 20 16 16 12 12 8 8 4 4 24 24 1-YEAR 1-MONTH 20 20 16 16 12 12 8 8 4 4 1979 1981 1979 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 22 - 18 - FEDERAL FUNDS — /, 14 M — - 6 l\ A rd' - | | OVERNIGHT : \VfV J 'A J J — 10 - /L 22 18 3-MONTH E U R O - D O L L A R DEPOSITS — 1.J 14 10 T E U R O - D O L L A R DEPOSITS Mill I IIIIII 6 11111111111 3 DIFFERENTIAL I I I I I I I I I I I 1979 1 PERCENT ON D I F F E R E N T I A L S C A L E = 2 PERCENT ON RATE S C A L E DIFFERENTIAL I 1 1 I 1 1 1 1 1 1I1I1 1 1 1 1 1 1 1 I I I II I I I I I 1981 1979 1981 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 28 CANADIAN FINANCE CO. PAPER, COVERED EURO-DOLLAR DEPOSITS 20 INTERBANK STERLING COVERED LONDON 20 U. S. COMMERCIAL PAPER , 2 4 DIFFERENTIAL DIFFERENTIAL 2 + 0 2 28 28 INTERBANK D M COVERED FRANKFURT SWISS INTERBANK (SF) COVERED 20 20 v* EURO-DOLLAR DEPOSITS 2 EURO-DOLLAR DEPOSITS 2 DIFFERENTIAL DIFFERENTIAL + 0 2 1979 1981 1 P E R C E N T 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 PERCENT PER Ah JUM [NT PER ANNUM 17 17 15 15 CAN - 13 - UNITED STATES 13 11 11 9 9 " 7 i l l I I I I I 1111111 M I M 7 12 9 10 7 ps - SWITZERLAND 8 5 GERMANY 6 3 III I I I I I I III III I I I I 4 I I „ l „ l , . 1 , 7 I 16 1 17 FRANCE 14 15 UNITED KINGDOM 12 13 10 11 8 9 EfjlLANDS 6 16 7 U. S. CORPORATE 15 MONTHLY MONTHLY 14 12 13 JAPAN Aaa BONDS ij ^ 11 y 10 8 9 i l l 6 7 E U R O - D O L L A R BONDS 1979 5 1981 1979 1981 3/19/8 CHART 10 INDUSTRIAL STOCK INDICES WEEKLY SERIES' RATIO SCALE 1969=100 RATIO SCALE 1969=100 180 160 — 140 - 120 100 - UNITED STATES fN ' \/\ A / - A / - - FRANCE GENERAL INDEX w — 80 — i i i 1 1 1 SWITZERLAND JAPAN UNITED KINGDOM GERMANY 1979 1981 1979 1981 LAST V A L U E PLOTTED DATE VALUE SERIES HAHE C H A R T 1. SPOT E X C H A N G E R A T E S A N D INDICES • *IEEKLT" A V E R A G E S , WOtJN FUYTNG" KATJSS~TTn.~S;T C E N T S ) GERMA1T MARK J A P A N E S E YEN D U T C H GUILDER U . K . POUND CANADIAN UOLLAR FRENCH FRANC SWISS"FRANC BELGIAN FRANC ITALIAN LIRA I N D I C E S , MARCH 1973 BASE S A T E S - WEIGHTED AVERAGE EXCHANGE VADUE I N D I C E S , M A R <G-10 C O U N T R I E S PLUS S W I T Z E R L A N D ) ~~ U.K. POUND CAtrAniAN DOLLAR F R E N C H FBANC "SWISS F R A N C BELGIAN FRANC SWEDISH KHONA — 2T 27 27 27 BAY 27 83.22 HAY HAY HAY HAY 27 2? 27 U7~ 17.95 tf8. 13 2.63375 0^98653 HAT MAY HAY MAY HAY MAY -H*T SAY MAY 27 27 27 27 27 27 27 27 27 42.93 0.44729 38.61 206.66 IOtT G E R M A H MARK J A P A N E S E YEN D U T C H GUILDER U.K. POUND CANADIAN DOLLAR FRENCH FRANC —StnSS-FRarNCBELGIAN FRANC — I T A L I A N - LIRA U . S . DOLLAR GERMAN" "MARKJ A P A N E S E YEN MAT HAT NAY HAY — ~ — 1973 = 120.76 117.11 110;85 83. 59 82.94 80.89 154.84 103.78 49. T6 100 MAY HAT MAY MAY MAY MAY MAY MAY MAY 27 27 27 27 27 27 27 27 27 MAY 27 104.89 131.07 124.48 tT6.23~ 85.52 85.13 82.32 152.98 108. 18 - 48.48 92.81 CHART 2. 3 - M O N T H F O R W A R D E X C H A N G E R A T E S , PREMIUM Ott D I S C O U N T CANXttlAH "DOLX A R U . K . POUND G E R M A N MARK FRENCH F R A N C SWISS F R A N C DUTCH GUILDER "JAPANESE T E N I T A L I A N LIRA M A Y 27 MAY 27 MAY 27 MAY 27 M A Y 27 MAY 27 WKT~27 MAY 27 -0.16 7.02 6.05 -3.38 8.77 6.68 11.95 -3.58 L A S ! V A L U E PLOITSD DATE VALUE SERIES NAME C H A R T 3. G O L D P R I C E IN L O N D O N , A F T E R N O O N U.S. D O L L A R S PER C H A R T 4. C A L L MONEY " "••• FIX1M5 MAK 27 470.25 MAY MAY MAY MAY MAY MAY MAY MAY APRIL MAY 27 27 22 15 22 15 22 22 24 15 18.71 19. 16 11.38 17.75 11.90 10.47 7.00 20.00 9.90 1.25 MAY MAY MAY MAY MAY MAY MAY 27 27 27 27 27 27 27 18. 23 13.20 7.,39 19.00 12. 39 10.,25 13.,63 MAY MAY MAY MAY MAY MAY 27 27 27 27 27 27 19.16 19.08 19.16 19. 16 18.09 17.20 M A Y 27 MAY 27 M A Y 27 19. 16 18. 71 45 MAY 27 MAY 27 M A Y 27 19. 16 18. 28 88 FINE OUNCE RATES U.S. F E D E R A L F O R D S OVERNIGHT EURO-DOLLAR DEPOSITS O.K.* 2 - D A Y L O C A L A U T H O R I T Y D E P O S I T S 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 0:5. 9 0 - D A T 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 — H E I G H T E D ~ A T E R A G E FOREIGN I N T E R E S T R A T E (3-10 C O U N T R I E S PLOS S W I T Z E R L A N D ) C H A R T 6. " EURO-DOLLAR — D E P O S I T R A T E S : 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 A N D 0.S. MONEY M A R K E T R A T E S OVERNIGHT EURO-DOLLAR U.S. F E D E R A L F U N D S D I F F E R E N T I A L "ADJ. FOR DEPOSITS RESERVE REQUIREMENTS 3 - M O N T H E U R O - D O L L A R DEPOSIT R A T E U . S . 90-DAY C D ' S , S E C O N D A R Y M A R K E T DIFFERENTIAL 0. 0. L A S T VALUE PLOTTED DATE VALUE CHART 8. INTEREST A R B I T R A G E , 3-MONTH FUNDS EURO-DOLLAR DEPOSIT I N T E R B A N K S T E E L I N G (LONDON), C O V E R E D DIFFERENTIAL MAY 27 M A T 27 HAY 27 19.16 19.62 -0.47 U . S . C O M M E R C I A L PAPER C A N A D I A N F I N A N C E PAPER, C O V E R E D DIFFERENTIAL HAY 27 M A Y 27 M A Y 27 17.52 18.83 -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 DIFFERENTIAL MAY 27 M A Y 27 MAY 27 19.16 T9.45 -0.30 EURO-DOLLAR DEPOSIT S W1SS "TNTEFBXITK, COYEEEIT" DIFFERENTIAL MAY 27 TTST2T M A Y 27 19. 16 -19,25 -0.09 CHATFT "9 . L0NT3 T E H M GO VERM E S T B O N D Y I E L D S PTAT2T MAY 15 APRIL MAY 15 M A Y 15 M A R C H 13 Tt-pRTr-24' MAY 15 13; 9T 10.79 7.90 5.82 15.82 15.09 10.91 12.03 APRIL —TJECT FEB. 13.88 6. 63 12.17 UNITED S T A T E S — GERMANY J A P A N (MONTHLY) SWITZERLAND CANADA FRANCE NETHERLANDS UNITED K I N G D O M U.S. C O R P O R A T E AAA B O N D S * . E050-DM BONDS —T EURO-DOLLAR BONDS \ C H A R T TO. I N D U S T R I A L STOCK JAPAN FRANC r UNITED KINGDOM SWITZERLAND GERMANY INDICES HAY 2 2 APRIL 3 MAY 2 2 MAY 2 2 MAY 15 362.00 148.80 129.78 71.66 100.35 . FEDERAL RESERVE statistical release H.10(512) JONR FOREIGN EXCHANGE RATES FOR THE WEEK ENDING . a m 3, 1981 MAY 29, 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 MEXICO NETHERLANDS NSW ZEALAND NORWAY PORTUGAL SOUTil AFRICA SPAIN SRI LANKA SWEDEN SWITZERLAND UNITED KINGDOM MONETARY UNIT DOLLAR SCHILLING FRANC DOLLAR KRONE MARKKA "FRXNC * D. MARK RUPEE POUND LIRA YEN DOLLAT? PESO GUILDER DOLLAR KRONE ESCUDO RAND PESETA RUPEE KRONA FRANC POUND MAY 25 - - - ' H o L I D A Y - MAY 26 • (RATE U.S. CENTS) MAY 27 113.8400 6.04961 2.62812 83.2570 13.6314 22.9305 18.0375 42.8467 11.7647 156.7500 0.08639 0.44573 42.5080 4.1339 38.5431 87.5000 17.4764 1.6247 117.8700 1.0828 5.4437 20.2041 48.1696 206.6000 113.5500 6.02501 2.61165 83. 1740 1,3.5355 22.9358 18.0180 42.6257 11.7647 155.7000 0.08591 0.44454 42.4989 4.1331 38.3142 87.1000 17.3913 1.6155 117.4500 1.0767 5.4437 20.1066 47.9386 206.0000 RAY 28 113.8300 6.04230 2.64340 83.2086 13.6799 22.9305 19.1324 43.0200 11.7647 157.3000 0.08613 0.44643 42.5622 4.1305 38.6698 87. 1800 17.54 39 1.6234 117.9000 1.0811 5.4437 20.3790 48.2439 206.8000 MAY 29 113.8700 6.09385 2.62674 83.0772 13.6388 22.9147 17.9775 42.9184 11.7925 157.7000 0.08628 0.44663 42.5622 4. 1305 38.5802 37.0*00 17.4095 1.6271 118.0200 1.0858 5.4142 20.2020 48.1742 207.0000
@FedFRASER