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s- wo DATA FSL1 \ LIBRARY LIBRARY OF CHICAGO MAR 1 5 1984 fEOERAL RESERVE BARE (516/517) FEDERAL RESERVE OAHK Of OIIIOAQO Selected Interest & Exchange Rates Weekly Series of Charts March 12, 1984 Prepared by the FINANCIAL MARKETS SECTION DIVISION OF INTERNATIONAL FINANCE BOARD OF GOVERNORS FEDERAL RESERVE SYSTEM Washington, D C. 20551 i e 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 RATESH.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 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 1973=100 RATIO SCALE MARCH 1973=100 160 140 — FOREIGN CURRENCY PRICE OF U.S. DOLLAR - — ^ 120 100 160 JAPANESE YEN - / - - / - 80 I I I iiliiliiln - MIIIIMIM I I I llll,lllll, - 120 - 100 — CANADIAN DOLLAR - 200 r — I I I I I ,,L, 160 V ™ I I I I I I 80 240 SWISS FRANC - 80 60 140 IIIIIIMIM 120 100 - I : 111lllll111 GERMAN MARK DUTCH GUILDER FRENCH FRANC U.K. POUND 160 140 — BELGIAN FRANC 80 ~~ 70 ITALIAN LIRA 120 60 100 - 80 60 ! I I 1982 50 40 I 1 1984 1 1 1 1 1982 1 30 1984 i CHART 3 PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY U.S. DOLLARS PER FINE OUNCE 600 I U.S. DOLLARS PER FINE OUNCE - — 550 600 550 12.5 Kg BARS AFTERNOON FIXING PRICE 500 500 450 450 400 400 350 350 300 300 250 250 1981 1982 1983 1984 CHART 4 CALL MONEY RATES WEEKLY SERIES PERCENT PER ANNUM PERCENT PER ANNUM 24 28 \ n - U. S. FEDERAL FUNDS — 20 - 16 - 12 - 8 FRANCE zr W -V JAPAN | I 4 111111111II I CANADA EURO-SWISS FRANC NETHERLANDS U. K. 2-DAY LOCAL AUTHORITY GERMANY EURO-DM 1982 1984 1982 1984 0 CHART 5 3-MONTH INTEREST RATES WEEKLY SERIES PERCENT PER ANI \IT PER ANNUM 22 24 18 20 U . S . CD S CANADIAN FINANCE CO PAPER 16 14 12 10 WEIGHTED AVERAGE FOREIGN RATE 6 8 20 16 U.K. INTERBANK STERLING 16 12 GERMAN INTERBANK RATE 8 12 4 8 12 11 SWISS INTERBANK RATE 9 IV - 8 - 4 JAPANESE BANK LOANS AND DISCOUNTS L 7 I I I I ill I I I I I ill I I 5 1982 1984 I i I I I 1982 0 I 1984 CHART 6 EURO-DOLLAR DEPOSIT RATES LONDON AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER ANNUM PERCENT PER ANNUM 24 24 20 - A t - \ — OVERNIGHT 3-MONTH 16 12 - 8 - 4 " i l l V - - I I I 11111111111 — - 20 ~1 7-DAY M/ Vi < 6-MONTH — 16 12 i 1-MONTH 1982 i i 1 i 1 11111111111 iilnliilii 1-YEAR 1984 1982 1984 CHART 7 SELECTED EURO-DOLLAR AND U. S. MONEY MARKET RATES DIFFERENTIAL: PLUS(+), FAVORS BORROWING IN U. S. AVERAGES FOR WEEK ENDING WEDNESDAY MT PER ANNUM 26 PERCENT PER ANNUM 26 22 FEDERAL FUNDS 18 3-MONTH E U R O - D O L L A R DEPOSITS 14 OVERNIGHT 10 E U R O - D O L L A R DEPOSITS 90-DAY CD S / 6 I 11111111111 1111111111 — DIFFERENTIAL 2 DIFFERENTIAL + 0 " 2 I I 1982 ERCENT 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 1984 I I I I 1982 I 11111111111 11111111111 1984 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 EURO-DOLLAR DEPOSITS 20 20 DASHED LINE CANADIAN FINANCE CO. PAPER, COVERED INTERBANK STERLING COVERED LONDON - U. S. COMMERCIAL PAPER 4 2 DIFFERENTIAL DIFFERENTIAL 2 + 0 2 28 28 20 SWISS INTERBANK (SF) COVERED INTERBANK DM 20 COVERED FRANKFURT EURO-DOLLAR DEPOSITS EURO-DOLLAR DEPOSITS DASHED LINE —DASHED LINE Illllllllll 2 DIFFERENTIAL 2 DIFFERENTIAL 6 2 1982 1984 1 PERCENT ON DIFFERENTIAL SCALE = 2 PERCENT ON RATE SCALE 1982 1984 CHART 9 LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES PEF ENT PER ANNUM PERCENT PER AL 19 19 CANADA UNITED STATES - Ay 15 V 11 i i i 7 - 15 - 11 I I I 7 15 9 UNITED KINGDOM SWITZERLAND 11 5 — I 7 13 I I I I I 1 13 MONTHLY GERMANY - 9 9 - 5 22 5 U.S. CORPORATE 22 MONTHLY FRANCE 18 18 Aaa BONDS 14 14 EURO-DOLLAR BONDS 10 ^ V 10 NETHERLANDS MONTHLY 6 111 i 11111 I I 1982 1984 1982 1984 6 CHART 10 INDUSTRIAL STOCK INDICES WEEKLY SERIES RATIO SCALE 1969=100 RATIO SCALE 1969=100 240 240 200 - 160 - UNITED STATES — r j ^ - r JAPAN - 200 - - - 120 160 120 ~ i i i I i r I i I I I I I 210 170 ' UNITED KINGDOM 130 90 ~ l\ A FRANCE v V S z - /V\ - 70 - I I I lllllllllll 190 GERMANY SWITZERLAND NETHERLANDS CANADA 200 1982 1984 1982 1984 LAST VALUE PLOTTED DATS VALUE S E B I E S NAME CHART 1. SPOT E X C H A N G E BATES AND I N D I C E S WEEKLY A V E R A G E S , NCGN BUYING B A T E S (U.S. C E N T S ) G E B M A N BABK J A P A N E S E YEN DUTCH G U I L D E R U.K. P O U N D C A N A D I A N DCLLAB F R E N C H FBANC SWISS FRANC BELGIAN FRANC I T A L I A N LISA S W E D I S H KBONA INDICES, MARCH 1973 B A S E BATES = 7 7 7 7 7 7 7 7 7 7 38.81 0.44200 34.38 148.06 79.86 12.60 46.81 1.89737 0.06235 12.97 MABCH MARCH MABCH MARCH MABCH MABCH MABCH MABCH MARCH 7 7 7 7 7 7 7 7 7 109.19 115.73 98.70 59.88 79.60 56.77 150.58 74.77 35.42 7 7 7 7 7 7 7 7 7 7 7 127. 12 139.24 145.51 120.67 69.94 95.84 65.66 185.04 89.82 40.09 68.50 7 7 7 7 7 7 7 7 0. 18 1.22 4.55 — 6. 10 6.75 4.11 3.84 -7.40 100 G E R M A N MARK J A P A N E S E YEN D U T C H GUILDER U.K. P O U N D C A N A D I A N DCLLAB FRENCH FRANC SWISS FRANC BELGIAN FRANC I T A L I A N LIRA W E I G H T E D A V E R A G E E X C H A N G E VALUE I N D I C E S , MAR (G-10 C O U N T R I E S PLUS S W I T Z E B L A N O ) U . S . DOLLAR G E R M A N MARK J A P A N E S E YEN DUTCH GUILDER U . K . POUND CANADIAN DCLLAB F B E N C H FBANC SWISS FBANC BELGIAN FBANC I T A L I A N LIBA S W E D I S H KBONA MARCH MABCH MABCH MARCH MABCH MARCH MARCH MARCH MARCH MABCH 1973 = 100 MARCH MARCH MABCH MABCH MARCH MABCH MARCH MABCH MABCH MABCH MARCH CHABT 2. 3 - M O N T B F O B W A B D E X C H A N G E B A T E S , P R E M I U M OR D I S C C U N T CANADIAN DCLLAB U.K., P O U N D G E R M A N MARK FRENCH FBANC SWISS FRANC DUTCH GUILDEB J A P A N E S E YEN I T A L I A N LIBA MARCH MARCH MARCH MARCH MARCH MABCH MARCH MARCH L A S T VALUE PLOTIE1 DATE VALOE SERIES HAHE C H A R T 3. G O L D PRICE IK LONDON, A F T E R N O O N FIXING U.S. D O L L A R S PES FINE OUNCE 4. C A L L 7 399.77 7 MARCH MARCH 7 MARCH 2 F E B . 24 MARCH 2 9 MARCH MARCH 2 MARCH 2 JAN. 1 MARCH 9 9. 75 9.55 9.00 9.41 5.55 5.35 6.63 12.75 10.30 2. 25 MARCH MARCH MARCH MARCH MARCH MARCH MARCH 7 7 7 7 7 7 7 9.75 5.88 6.25 9.89 9.06 3.60 8.46 MARCH MARCH MARCH MARCH MARCH MARCH 7 7 7 7 7 7 9.55 9.68 9.84 10.09 10.35 10.80 MARCH MONEY R A T E S U.S.. F E D E R A L FUNDS O V E R N I G H T EURO-COLLAR D E P O S I T S U.K. CANADA GERMANY EURO-DM JAPAN FRANCE NETHERLANDS EURO-SWISS FRANC CHART 5. 3 - M O N T H I N T E R E S T BATES U.S. 90-DAY C D ' S , SECONDARY M A R K E T G E R M A N INTERBANK LOAN J A P A N E S E EANK L O A N S 6 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 StfISS I N T E R B A N K ICAN W E I G H T E D A V E R A G E FOREIGN I N T E R E S T R A T E (G-10 C O U N T R I E S PLCS S W I T Z E R L A N D ) CHART 6. E U R O - D O L L A R DEPOSIT R A T E S : LONDON OVERNIGHT 7-DAY 1-MONTH 3-HONTH 6-MONTH 1-YEAR CHART 7. S E L E C T E D EURO-DOLLAR AND U.S. MONEY M A R K E T R A T E S O V E R N I G H T EURO-COLLAR D E P O S I T S U.S. F E D E R A L FUNDS D I F F E R E N T I A L ADJ. FOR R E S E R V E R E Q U I R E M E N T S MARCH MARCH MARCH 7 7 7 9.55 9.75 -0.20 3-HO NTH E U R O D O L L A R DEPOSIT R A T E U . S . 90—DA If C D ' S , SECONDARY M A R K E T DIFFERENTIAL MARCH MARCH MARCH 7 7 7 10.09 9.75 0.34 SERIES LAST VALUE PLOTTED DATE VAIOE NAME CHART 8. I N T E R E S T A R B I T R A G E , 3 - M O N T H FUNDS E U R O — D C L I A S DEPOSIT I N T E R B A N K S T E R L I N G (LONDON), C O V E R E D DIFFERENTIAL MARCH MARCH MARCH 7 7 7 10.09 10.30 -0.21 U.S. C O M M E R C I A L PAPEB C A N A D I A N F I N A N C E PAPER, C O V E R E D DIFFERENTIAL MARCH MARCH MARCH 7 7 7 9.48 10.06 -0.60 EURO-DOLLAR DEPOSIT I N T E R B A N K DM (FRANKFURT), C O V E R E D DIFFERENTIAL MARCH MARCH MARCH 7 7 7 10.09 10.49 -0.41 EURO-DOLLAR D E P O S I T SWISS INTERBANK, COVERED DIFFERENTIAL MARCH MARCH MARCH 7 7 7 10.09 10.41 -0.32 MARCH 2 MARCH 2 JAN. F E B . 17 FEB. 24 O C T . 23 NOV. MARCH 2 12.05 7. 88 6.94 4.54 12. 10 14.17 8. 57 9.73 CHART 9. LONG 15BM G O V E R M E N T BOND UNITED STATES GERMANY JAPAN (MONTHLY) SWITZERLAND CANADA FRANCE NETHERLANDS (MONTHLY) UNITED KINGDOM YIELDS . CORPCBA1E AAA BONDS EURO-DOLLAR CHART 10. STOCK BONDS 12.20 10.29 INDICES UNITED STATES UNITED KINGDOM CANADA GERMANY SWITZERLAND NETHERLANDS FRANCE JAPAN JAN. NOV. FEB. FEB. FEB. FEB. FEB. FEB. FEB. FEB. 29 29 29 29 29 29 29 29 163. 85 180. 24 239. 66 149. 78 122. 72 158. 42 161. 20 205. 80 : ; »- FEDERAL RESERVE statistical release R t ^ ." H. 10(512) MARCH 12, 1984 FOREIGN EXCHANGE RATES MARCH FOB THE WEEK EIDI1G 9, 1984 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 MONETARY UNIT ARGENTINA •AUSTRALIA AUSTRIA BELGIUM BRAZIL CANADA CHILE CHINA, P. B. COLOMBIA DENMARK FINLAND FBANCE GERMANY GREECE HCNG KONG INDIA INDONESIA •IRELAND ISRAEL ITALY JAPAN MALAYSIA MEXICO NETHERLANDS •NEB ZEALAND NORWAY PERU PHILIPPINES PORTUGAL SINGAPORE •SOUTH AFRICA SOUTH KOREA SPAIN SBI LANKA S8EDEN SWITZERLAND TAIWAN THAILAND •UNITED KINGDOM VENEZUELA PESO DOLLAR SCHILLING FRANC CRUZEIRO DOLLAR PESO YUAN PESO KRONE MARKKA FRANC D. MARK DRACHMA DOLLAR RUPEE RUPIAH POUND SHEKEL LIRA YEN DOLLAR PESO GUILDER DOLLAR KRONE SOL PESO ESCUDO DOLLAR RAND BON PESETA RUPEE KRONA FRANC DOLLAR BAHT POUND BOLIVAR HEHO: •UNITED STATES DOLLAR HAH. NA 95.50 18.190 52.600 1231.00 1.2523 HA 2.0519 NA 9.4680 5.5730 7.9375 2.5795 100.500 7.7800 10.6700 1A 119.00 139.860 1606.00 223.35 2.2810 CWlpci HA*. D M ? f#R DOLLAR BAR. NA 95.53 18.005 52.270 1231.00 1.2558 IA 2.0417 NA 9.3750 5.5630 7.8780 2.5518 100.700 7.7795 10.6700 HA 120.05 141.700 1593.00 223.35 2.2820 40.180 23.000 148.45 13.1000 171.4000 2.8850 67.280 7.4000 HA 14.0500 129.500 2.0775 84.00 793.40 147.730 25.190 7.6400 2.1095 40.180 23-000 148.40 13.1000 126.88 126.18 171.5000 2.9115 66.280 7.4500 NA 14.0500 130.200 2.0750 83.85 794.40 148.200 25.190 7.7190 2.1280 HA 95.40 18.010 52.300 1231.00 1.2602 NA 2.0417 NA 9.3600 5.5220 7.8700 2.5550 100.200 7.7770 10.6700 NA 119.90 142.690 1588.00 223.25 HAR. 8 NA 95.29 18.240 53.010 1231.00 1.2651 HA 2.0498 NA 9.4650 5.5960 7.9725 2.5875 101.000 7.7790 10.6700 NA 118.30 142.910 1612.00 40.170 23,000 147.55 13.2000 224.55 2.2975 172.1000 2.9230 66.850 7.4725 NA 14.0500 129.850 2.0965 83.40 792.40 149.100 25.190 7.6975 2.1360 40.150 23.000 145.80 13.1500 126.29 127.67 2.2860 171.6000 2.8640 67.220 7.4175 NA 14.0500 128.800 2.0900 83.95 792.40 146.730 ' 25.190 7.6425 2.1160 MAR. NA 95.42 18.160 52.850 1231.00 1.2710 NA 2.0498 NA 9.4500 5.5845 7.9550 2.5820 101.250 7.7810 10.6900 NA 118.75 142.910 1605.00 224.80 2.2870 172.5000 2.9210 66.920 7.4700 NA 14.2500 130.400 2.0860 83.70 793.30 149.050 25.160 7.6975 2.1340 40.140 23.000 146.25 13.1000 127.52 ilNDEX OF WEIGHTED AVERAGE EXCHABGE VALUE OF 0.S. DOLLAR AGAINST COBREHCIES OF OTBEB G-10 COUNTBIES PLUS SWITZERLAND. HABCH 1973 « 100. WEIGHTS ABE 1972-76 GLOBAL TRADE OF EACH OF THE 10 COUNTRIES. SERIES REVISED AS OF AiGUST 1978. FOR DESCRIPTION AND BACK DATA, SEE "INDEX OF THE WEIGHTED-AVERAGE EXCHANGE VALUE OF THE U.S. DOLLAR: REVISION" ON PAGE 700 OF THE AOGOST 1978 FEDERAL RESERVE BULLETIN. •VALUE IS O.S. CENTS