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(516/517) Selected Interest Exchange Rates W e e kly Series o f Charts June 16,1980 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 Weekly $ 15.00 per year or $.40 each in the United 2. D A IL Y C E R T IF IE D SPOT States, its possessions, Canada, and Mexico; 10 or EXCHANGE RATES-H.10 RELEASE CHARTS 1. SPOT EXCHANGE RATE INDICES 2. 3-M ONTH FORW ARD EXCHANGE RATES 3. GOLD P R IC E -LO N D O N 4. C A LL M O NEY RATES 5. 3-M O N TH INTEREST RATES 6. EURO DOLLAR DEPOSIT RATES 7. SELECTED EURO-DOLLAR A ND U.S. M O NEY M A RK ET RATES 8. INTER EST A R B ITRA 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 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. 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=100 120 120 100 80 60 SCALE 1973=100 FOREIGN CURRENCY PRICE OF tIS . DOLLAR I I I - I I l - 100 — 80 nliiliilii nliiliilii 60 180 120 160 140 100 80 240 200 160 120 160 140 120 100 100 80 60 1978 1980 1978 1980 CH ART 2 3-MONTH FORWARD EXCHANGE RATES PREMIUM (+) OR ( - ) AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER PERCENT ANNUM PER ANNUM + 0 24 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 800 800 750 750 700 700 650 650 600 600 550 550 12.5 Kg BARS A F T E R N O O N F IX IN G P R IC E 500 500 450 450 400 400 350 350 300 300 250 250 200 200 150 150 iiliiliilii 100 1977 1978 1979 100 1980 CHART 4 CALL MONEY RATES WEEKLY SERIES 20 20 16 16 12 12 8 8 4 4 16 20 12 16 8 12 4 8 0 4 12 0 8 12 4 8 + 0 4 0 4 1978 1980 1978 1980 CHART 5 3-MONTH INTEREST RATES WEEKLY SERIES :n t per PER C E N T PER annum 20 20 M 16 16 12 12 8 8 WEIGHTED AVERAGE FOREIGN RATE nliiliiliiliiliilii 4 4 18 14 14 10 10 6 6 2 16 12 12 8 8 4 4 0 1978 1980 1978 1980 CH ART 6 EURO-DOLLAR DEPOSIT RATES Lo n d o n AVERAGES FOR WEEK ENDING WEDNESDAY PER C EN T PER :N T P E R A N N U M At 20 20 16 16 OVERNIGHT 12 12 8 8 4 4 20 20 16 16 12 12 8 8 4 4 20 20 16 16 12 12 8 8 4 4 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 P E R C E N T PER ANNUM o+ P ER C E N T PER ANN UM 1978 1 P E R C EN T ON D IF F E R E N T IA L S C A L E = 2 PERC ENT ON RATE S C A L E T980 CHART 8 INTEREST ARBITRAGE: 3-M ONTH FUNDS DIFFERENTIAL: PLUS(+), INDICATES FAVOR DOLLAR ASSETS AVERAGES FOR WEEK ENDING WEDNESDAY P ER C E N T PER ANN UM P ER C E N T PER ANN UM 20 16 12 8 4 0 2 + 0 2 4 DIFFERENTIAL 1978 1 PERC ENT ON D IF F E R E N T IA L S C A L E = 2 PERCENT ON RATE SC A LE 1980 CHART 9 LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES 14 15 12 13 10 11 8 9 6 10 7 8 5 6 3 4 1 7 16 17 14 15 12 13 10 11 8 9 6 7 14 13 12 11 10 9 8 7 6 5 1978 1980 1978 1980 CHART 10 INDUSTRIAL STOCK INDICES WEEKLY SERIES R A T IO 1969= 140 120 100 80 R A T IO SCALE 1969=100 400 360 320 280 240 200 140 120 100 80 160 160 140 140 120 120 100 100 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. CENTS) GERMAN MARK JAPANESE YEN DUTCH GUILDER U.K. POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC BELGIAN FRANC ITALIAN LIRA INDICES, 11 11 11 11 11 11 11 11 11 56.59 0.45893 51.54 233.61 86.83 24.30 61 .30 3.52934 0.12004 JUNE JUNE JUNE JUNE JUNE JUNE JUNE JUNE JUNE 11 11 11 11 11 11 11 11 11 159.19 120.16 147.97 94.49 86.54 109.50 197.21 139.07 68.19 11 11 11 11 11 11 11 11 11 11 11 85.28 150.11 106.75 132.98 81.80 74.77 96.22 176.78 124.02 58.87 93.54 11 11 11 11 11 11 11 11 -2.26 -7.01 0.02 -2.94 3.93 -1.38 -1.61 -9.73 MARCH 1973 BASE RATES = 100 GERMAN MARK JAPANESE YEN DUTCH GUILDER U.K. POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC BELGIAN FRANC ITALIAN LIRA WEIGHTED AVERAGE EXCHANGE VALUE INDICES, (G-10 COUNTRIES PLUS SWITZERLAND) U.S. DOLLAR GERMAN MARK JAPANESE YEN DUTCH GUILDER U.K. POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC BELGIAN FRANC ITALIAN 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 ITALIAN LIRA JUNE JUNE JUNE JUNE JUNE JUNE JUNE JUNE JUNE MAR 1973 = 100 JUNE JUNE JUNE JUNE JUNE JUNE JUNE JUNE JUNE JUNE JUNE PREMIUM OR DISCOUNT JUNE JUNE JUNE JUNE JUNE JUNE JUNE JUNE SERIES NAME LAST VALUE PLOTTED DATE VALUE CHART 3. GOLD PRICE IN LONDON, AFTERNOON FIXING U.S. DOLLARS PER FINE OUNCE JUNE 11 600.50 CHART 4. CAL L MONEY RATES JUNE JUNE JUNE MAY JUNE JUNE JUNE JUNE MAY JUNE 11 11 6 23 6 6 6 6 16 6 9.68 9.12 16.75 13.25 9.80 9.68 12.63 12.38 11.15 7.90 JUNE JUNE JUNE JUNE JUNE JUNE JUNE 11 11 11 11 11 11 11 8.54 10.15 13.69 12.02 16.64 5.80 12.45 JUNE JUNE JUNE JUNE JUNE JUNE 11 11 11 11 11 11 9.12 9.09 9.33 9.45 9.44 9.43 OVERNIGHT EURO-DOLLAR DEPOSITS U.S. FEDERAL FUNDS DIFFERENTIAL ADJ. FOR R E SERVE REQUIREMENTS JUNE 11 JUNE 11 JUNE 11 9.12 9.6 8 -0.56 3-MONTH EURO-DOLLAR DEPOSIT RATE U.S. 90-DAY CD'S, SECONDARY MARKET DIFFERENTIAL JUNE 11 JUNE 1 1 JUNE 11 9.45 8.54 0.91 U.S. FEDERAL FUNDS OVERNIGHT EURO-DOLLAR DEPOSITS U.K. 2-D A Y LOCAL AUTHORITY DEPOSITS CANADA GERMANY EURO-DM JAPAN FRANCE NETHERLANDS EURO-SHISS FRANC CHART 5. 3-MO N T H INTEREST RATES U.S. 90-DAY CD* S, SECONDARY MARKET GERMAN INTERBANK LOAN JAPA N E S E BANK LOANS & DISCOUNTS C A N A D I A N FINA N C E PAPER INT E R B A N K STERLING SWISS INTERBANK LOAN W EIGHTED AVERAGE FOREIGN INTEREST RA T E (G-10 COUNTRIES PLUS SWITZERLAND) CHART . EUR O - D O L L A R DEPOSIT RATES: LONDON OVERNIGHT 7-DAY 1-MONTH 3-HONTH 6-MCNTH 1-YEAR CHART 7. SELECTED EURO-DOLLAR AND U.S. MONEY MARKET RATES SERIES NAME CHART 8. INTEREST ARBITRAGE, LAST VALUE PLOTTED DATE VALUE 3-MONTH FUNDS EURO-DOLLAR DEPOSIT INTERBANK STERLING (LONDON) , COVERED DIFFERENTIAL JUNE 11 JUNE 11 JUNE 11 9.45 9.34 0.08 U.S. COMMERCIAL PAPER CANADIAN FINANCE PAPER, COVERED DIFFERENTIAL JUNE 11 JUNE 11 JUNE 11 8.28 9.70 -1.42 EURO-DOLLAR DEPOSIT INTERBANK DM (FRANKFURT), COVERED DIFFERENTIAL JUNE 11 JUNE 1 1 JUNE 11 9.45 10.17 -0.76 EURO-DOLLAR DEPOSIT SWISS INTERBANK, COVERED DIFFERENTIAL JUNE 11 JUNE 11 JUNE 11 9.45 9.79 -0.37 CHART 9. LONG TERM GOVERMENT BOND YIELDS UNIIED STATES GERMANY JAPAN (MONTHLY) SWITZERLAND CANADA FRA NCE NETHERLANDS UNITED KINGDOM JUNE MAY HAY MAY MAY MARCH MAY JUNE 6 30 30 23 7 16 6 10.07 8.37 8.76 4.82 11.39 14.30 9.86 11.05 U.S. CORPORATE AAA BONDS EURO-DM BONDS EURO-DOLLAR BONDS MAY DEC. APRIL 10.99 6.63 10.98 CHART 10. INDUSTRIAL STOCK INDICES UNIIED STATES JAPAN CANADA FRANCE UNITED KINGDOM SWITZERLAND GERMANY 6 JUNE 6 JUNE DEC. 29 MAY 16 6 JUNE JUNE 6 MAY 30 118.89 307.26 113.81 147.22 100.76 73.54 94.40
@FedFRASER