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(516/517) Selected Interest & Exchange Rates W eekly Series o f Charts June 23,1980 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 GOVER N O R S F E D E R A L R E S E R V E S Y STEM 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 2. D A IL Y C E R TIFIE D SPOT EXCHANGE RATES H.10 RELEASE CHARTS 1. SPOT EXCHANGE RATE INDICES 2. 3-M ONTH FORWARD EXCHANGE RATES 3. GOLD P R ICE-LO N D O N 4. C ALL MONEY RATES 5. 3-M ONTH INTEREST RATES 6. EURO DOLLAR DEPOSIT RATES 7. SELECTED EURO-DOLLAR AND U.S. MONEY M A RK ET RATES 8. INTEREST A RBITRAGE: 3-M ONTH FUNDS 9. LONG-TERM G O V ER N M EN T BOND Y IE LD 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 M ARCH R A T IO SCALE MARCH 1973=100 SCALE 1973=100 160 140 120 100 100 60 60 1978 1980 1978 1980 CHART 2 3-MONTH FORWARD EXCHANGE RATES PREMIUM (+) OR ( - ) AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER PERCENT ANNUM PER ANNUM + 0 24 12 6 + 0 6 1978 1980 1978 1960 CHART 3 PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY U .S . D O L L A R S P E R F IN E < U .S . D lla rs per f in e o u n c e 800 800 750 750 700 700 650 650 600 600 550 12.5 Kg BARS 550 A F T E R N O O N F IX IN G P R IC E 500 500 450 450 400 400 350 350 300 300 250 250 200 200 150 150 100 100 1977 1978 1979 1980 CHART 4 CALL MONEY RATES WEEKLY SERIES 20 20 16 16 12 12 8 8 4 4 16 20 12 16 12 8 6 4 0 12 4 0 12 8 4 8 + 0 4 0 4 1978 1980 1978 1980 CHART 5 3-MONTH INTEREST RATES WEEKLY SERIES PERCENT PER ANNUM PERCENT PER ANNUM 1978 1980 1978 1980 CHART 6 EURO-DOLLAR DEPOSIT RATES Lo n d o n AVERAGES FOR WEEK ENDING WEDNESDAY 20 20 16 16 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 PERCENT PER ANNUM Io+ PERCENT PER ANNUM 1980 1 978 1 PERCENT ON D IF F E R E N T IA L SCALE = 2 P E R C E N T ON RATE SCALE CHART 8 INTEREST ARBITRAGE: 3-M O N TH FUNDS DIFFERENTIAL: PLUS(+), INDICATES FAVOR DOLLAR ASSETS AVERAGES FOR WEEK ENDING WEDNESDAY P ER C E N T PER ANNUM P E R C E N T PER ANNUM 20 16 12 8 4 0 2 + 0 2 4 20 16 12 8 4 2 DIFFERENTIAL + 0 2 1978 1980 1 PER 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 LE 1978 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 RATIO 1969= 140 UNITED STATES 120 a/ v 100 ^ * r 80 I l I I I I lllllllllll iiiniiihi RATIO SCALE 1969-100 400 100 360 90 JAPAN 320 80 280 70 240 60 200 J__I__L I l SO n i l l In Lll 140 120 100 80 160 140 120 100 80 1978 1960 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 JUNE JUNE JUNE JUNE JUNE JUNE JUNE JUliE JUNE 18 18 18 18 18 18 18 18 18 56.74 0.46286 51.76 233.69 87.04 24.34 61.54 3.54335 0.12002 JUNE JUNE JUNE JUNE JUNE JUNE JUNE JUNE JUNE 18 18 18 18 18 18 18 18 18 159.61 121.19 148.59 94.52 86.76 109.68 197.99 139.63 68.18 18 18 18 18 18 18 18 18 18 18 18 84.74 152.62 107.17 132.86 81.37 74.57 95.85 176.58 123.88 57.54 93.29 18 18 18 18 18 18 18 18 -2.64 -7.42 -0.18 -3.36 3.61 -1.50 -2.43 -9.46 )ICES, MARCH 1973 BASE RATES = 100 GERMAN MARK JAPANESE YEN DUTCH GUILDER U.K. POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC BELGIAN FRANC ITALIAN LIRA :g h t e d 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 MAR 1973 = 100 JUNE JUNE JUNE JUNE JUNE JUNE JUNE JUNE JUNE JUNE JUNE !. 3-MONTH FORWARD EXCHANGE RATES, PREMIUM OP DISCOUNT 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 LAST VALUE PLOTTED SERIES NAME DATE VALUE CHART 3. GOLD PRICE IN LONDON, AFTERNOON FIXING U.S. DOLLARS PER FINE OUNCE JUNE 18 597.53 CHART 4. CALL MONEY RATES U.S. FED E R A L FUNDS OVERNIGHT EURO-DOLLAR DEPOSITS U.K. 2-DAY LOCAL AUTHORITY DEPOSITS CANADA GERMANY EURC-DM JAPAN FRANCE NETHERLANDS EURC-SWISS FRANC JUNE JUNE JUNE MAY JUNE JUNE JUNE JUNE MAY JUNE 18 18 13 30 13 6 13 13 16 6 8.99 8.71 16.50 11.75 9.60 9.68 12.81 12.38 11.15 7.90 JUNE JUNE JUNE JUNE JUNE JUNE JUNE 18 18 18 18 18 18 18 8.17 10.01 13.59 12.15 16.59 5.55 12.45 JUNE JUNE JUNE JUNE JUNE JUNE 18 18 18 18 18 18 8.71 8.69 8.88 8.99 9.05 9.00 OVERNIGHT EURO-DOLLAR DEPOSITS U.S. FEDERAL FUNDS DIFFERENTIAL ADJ. FOR RESERVE REQUIREMENTS JUNE 18 JUNE 18 JUNE 18 3.71 8.99 -0.28 3-MONTH EURO-DOLLAR DEPOSIT RATE U.S. 90-DAY CD'S, SECONDARY MARKET DIFFERENTIAL JUNE 18 JUNE 18 JUNE 18 8.99 8.17 0.82 CHART 5. 3-MONTH INTEREST RATES U.S. 90-DAY C D ’S, SECONDARY MARKET GERMAN INTERBANK LOAN JAPANESE BANK LOANS 8 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-MCNTH 6-MONTH 1-YEAR CHART 7. SELECTED EURO-DOLLAR AND U.S. MONEY MARKET RATES SERIES NAME CHART . INTEREST ARBITRAGE, LAST VALUE PLOTTED DATE VALUE 3-MONTH FUNDS EURC-DOLLAR DEPOSIT INTERBANK STERLING (LONDON), COVERED DIFFERENTIAL JUNE 18 JUNE 18 JUNE 18 8.99 8.86 0.13 U.S. COMMERCIAL PAPER CANADIAN FINANCE PAPER, COVERED DIFFERENTIAL JUNE 18 JUNE 18 JUNE 18 7.97 9.43 -1.46 EURC-DOLLAR DEPOSIT INTERBANK DM (FRANKFURT), COVERED DIFFERENTIAL JUNE 18 JUNE 18 JUNE 18 8.99 9.83 -0.84 EURC-DOLLAR DEPOSIT SWISS INTERBANK, COVERED DIFFERENTIAL JUNE 18 JUNE 18 JUNE 18 8.99 9.21 -0.23 13 6 9.66 8.31 8.76 4.82 11.29 14.30 9-86 10.94 CHART 9. LCNG TERM G O VERMENT BOND YIELDS UNITED STATES GERMANY JAPAN (MONTHLY) SWITZERLAND CANADA FRANCE NETHERLANDS UNITED KINGDOM JUNE JUNE MAY MAY MAY MARCH MAY JUNE 30 30 7 16 13 0. S, CORPORATE AAA BONDS EURC-DM BONDS EURO-DOLLAR BONDS MAY DEC. APRIL 10.99 6.63 10.98 CHART 10. INDUSTRIAL STOCK INDICES UNITED 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