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(5 1 6 / 5 1 7 ) Selected Interest Excharge Rates W eekly Series o f Charts March 10,1980 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 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-MONTH FORW ARD EXCHANGE RATES 3. GOLD PRICE- LONDON 4. C ALL MONEY RATES 5. 3-M ONTH INTEREST RATES 6. EURO DOLLAR DEPOSIT RATES 7. SELECTED EURO D O LLA R A N D U.S. M O NEY M A RK ET RATES 8. INTEREST A R B ITRA G E: 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 MARCH R A T IO SCALE M ARCH 1973=100 SCALE 1973=100 120 100 80 60 120 100 80 240 200 160 120 160 140 120 100 1978 1980 1978 1980 CHART 2 3-M ONTH FORWARD EXCHANGE RATES PREMIUM (+) OR ( - ) AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER PERCENT ANNUM PER ANNUM 12 6 + 0 6 1978 1980 1978 1980 CHART 3 PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY U .S . D 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 500 500 450 450 400 400 350 350 300 300 250 250 200 200 150 150 100 1-1.i-1 1 1,1 1977 1978 1979 1.1 L 1...1..1. 1980 100 CHART 4 CALL MONEY RATES WEEKLY SERIES 20 20 16 16 12 12 8 8 4 4 t6 20 12 16 12 8 8 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 L o ndon AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER ENT PER ANNUM 18 18 14 14 OVERNIGHT 10 10 6 6 18 18 14 14 10 10 6 6 18 18 14 14 10 10 6 6 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 1978 1 PE RC ENT ON D IF F E R E N T IA L S C A L E = 2 PERCENT ON RATE S C A L E 1980 CHART 8 INTEREST ARBITRAGE: 3-M ONTH FUNDS DIFFERENTIAL: PLUS(+)f INDICATES FAVOR DOLLAR ASSETS AVERAGES FOR WEEK ENDING WEDNESDAY NT PER PERCENT ANNUM PER 20 20 16 16 EURO-DOLLAR DEPOSITS 12 12 8 8 INTERBANK STERLING COVERED LO N D O N 4 4 II 0 4 0 2 2 + 0 + 0 2 2 4 16 16 12 12 8 8 4 4 2 2 DIFFERENTIAL + 0 + 0 2 2 1978 t PERC ENT ON D IF F E R E N T IA L SC A LE = 2 PERCENT ON RATE SC A LE 1980 CHART 9 LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES PERCENT PER A^ ENT PER ANNUM 13 14 11 12 9 10 8 6 7 10 8 4 6 2 4 0 13 15 11 13 9 11 7 9 5 7 12 10 10 8 8 6 6 4 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=100 400 100 360 90 JAPAN 320 80 280 70 240 60 200 50 140 140 CANADA 120 D IS C O N T IN U E D S E R IE S 120 100 100 80 80 nliilnlii 160 160 FRANCE G ENERAL INDEX 140 140 120 120 100 100 80 80 1978 1980 1978 1980 LAST VALUE PLOTTED DATE VALUE S E RIES N A M E CHART 1. SPOT EXCHANGE RAT E S 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 MARCH MARCH MARCH MARCH MARCH MARCH MARCH MARCH MARCH 5 5 5 5 5 5 5 5 5 56.16 0.1*0286 51.10 225.50 87.19 23.98 58.68 3.45982 0.12127 MARCH MARCH MARCH MARCH MARCH MARCH MARCH MARCH MARCH 5 5 5 5 5 5 5 5 5 157.99 105.1*8 146.69 91.21 86.90 108.05 188.80 136.33 68.89 5 5 5 5 5 5 5 5 5 5 5 87.72 152.75 94.57 134.92 80.62 76.92 97.16 172.91 124.31 59.92 94.23 5 5 5 5 5 5 5 5 3.33 -1.75 8.12 2.96 11.53 4.49 5.93 -2.52 INDICES, 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 MAR 1973 = 100 MARCH MARCH MARCH MARCH MARCH MARCH MARCH MARCH MARCH MARCH MARCH CHART 2. 3-MONTH FORWARD EXCHA N G E RATES, PREMIUM OR DISCOUNT CANADIAN DOLLAR U.K. POUND GERMAN MARK FRENCH FRANC SWISS FRANC DUTCH GUILDER JAPANESE YEN ITALIAN LIRA MARCH MARCH MARCH MARCH MARCH MARCH MARCH Ha r c h LAST VALUE PLOTTED DATE VALUE SERIES NAME CHART 3. GOLD PRICE IN LONDON, AFTE R N O O N FIXING U.S. DOLLARS PER FINE OUNCE MARCH 5 638.30 MARCH MARCH FEB. FEB. FEB. FEB. FEB. FEB. FEB. FEB. 5 5 29 22 29 29 29 29 15 29 16..17 14..82 17..63 12..65 8..00 7..44 9..44 13..00 11..10 0..31 MARCH MARCH MARCH MARCH MARCH MARCH MARCH 5 5 5 5 5 5 5 15.97 9.24 10.05 13.88 18.24 5.67 12.31 MARCH MARCH MARCH MARCH MARCH MARCH 5 5 5 5 5 5 14.82 15.67 16.19 17.16 17.14 16.41 CHART 4. CALL MONEY RATES U.S. FEDERAL FUNDS O V ERNIGHT EURO-DOLLAR DEPOSITS U.K. 2-DAY LOCAL AUTHORITY DEPOSITS CANADA GERMANY EURO-DM JAPAN FRANCE NETHERLANDS E U RO-SWISS FRANC CHART 5. 3-MONTH INTEREST RATES U.S. 90-DAY CD* S, SECONDARY MARKET GERMAN INTERBANK LOAN JAPANESE BANK LOANS S DISCOUNTS C ANADIAN FINANCE PAPER I N TERBANK STERLING SWISS INTERBANK LOAN WEI G H T E D AVERAGE FOREIGN INTER E S T RATE (G-10 COUNTRIES PLUS SWITZERLAND) CHART 6. E U R O -DOLLAR DEPOSIT RATES: LONDON O V E R NIGHT 7-DAY 1-MONTH 3-MONTH 6-MONTH 1-YEAR CHART 7. SELECTED EURO-DOLLAR AND U.S. MONEY MARKET RATES O V E R N I G H T E U R O -DOLLAR D EPOSITS U.S. FEDERAL FUNDS DIFFERENTIAL ADJ. FOR R E SERVE REQUIREMENTS MARCH MARCH MARCH 5 5 5 14.82 16.17 -1.35 3 - M O N T H EURO-DOLLAR DEPOSIT RATE U.S. 90-DAY CD'S, SECONDARY MARKET DIFFERENTIAL MARCH MARCH MARCH 5 5 5 17.16 15.97 T.T9 SERIES NAME CHART 8. INTEREST ARBITRAGE, LAST 7 ALOE PLOTTED DATE V ALOE 3-MONTH FONDS EORO-DOLLAR DEPOSIT I N TERBANK STERLING (LONDON), COVERED DIFFERENTIAL MARCH MARCH MARCH 5 5 5 17.16 16.41 0.76 O.S. COMMERCIAL PAPER C ANADIAN FINANCE PAPER, COVERED DIFFERENTIAL MARCH MARCH MARCH 5 5 5 15.34 17.33 -1.99 EORO-DOLLAR DEPOSIT INTERBANK DM (FRANKFORT), COVERED DIFFERENTIAL MARCH MARCH MARCH 5 5 5 17.16 17.54 -0.38 EORO-DOLLAR DEPOSIT SWISS INTERBANK, COVERED DIFFERENTIAL MARCH MARCH MARCH 5 5 5 17.16 17.37 -0.21 FEB. FEB. JAN. FEB. FEB. JAN. FEB. FEB. 29 15 13.20 8.42 8.50 4.54 12.88 12.57 10. 10 11.18 CHART 9. LONG TERM GOVERMENT BOND YIELDS UNITED STATES GER MANY JAPAN (MONTHLY) SWITZERLAND CANADA FRANCE NETHERLANDS UNITED KINGDOM 22 22 11 15 22 U. S. CORPORATE AAA BONDS EURO— DM BONDS EURO-DOLLAR BONDS 12.38 6.63 10.35 FEB. DEC. JAN. CHART 10. INDUSTRIAL STOCK INDICES UNITED STATES JAPAN CANADA FRANCE UNITED KINGDOM SWITZERLAND GER MANY FEB. FEB. DEC. FEB. FEB. FEB. FEB. 29 22 29 15 22 22 15 118.56 311.84 113.81 155.60 109.17 79.12 99.44
@FedFRASER