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(516/517) Selected Interest & Exchange Rates Weekly Series of Charts March 16,1981 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 0 I CHART 1 SPOT EXCHANGE INDICES DOLLAR PRICES OF FOREIGN CURRENCIES AND WEIGHTED AVERAGE VALUES (THIN LINE) AVERAGES FOR WEEK ENDING WEDNESDAY RATIO S C A L E RATIO S C A L E MARCH 1 9 7 3 = 1 0 0 MARCH 1 9 7 3 = 1 0 0 120 120 - - 100 U.K. POUND - / 80 100 - - 80 FOREIGN CURRENCY PRICE OF U.S. DOLLAR - I 60 I I I I I I I 60 I 180 FRENCH FRANC 160 Ay v 140 120 GERMAI4 MARK - I 100 160 - I 120 100 - H i 1,1111,7 80 240 —i AVA — V JAPANESE YEN ^ — AJ) 100 120 - - — 140 I v - — - VX, V : - 160 SWISS FRANC I I I I I I I I I I I MI 80 : 200 i i 1 i 1 1 140 11111111111 11111111111 120 — y\ 160 BELGIAN FRANC — A DUTCH GUILDER 140 V : 100 100 " 100 M I 1 1 1 100 — ITALIAN LIRA 80 60 - \ CANADIAN DOLLAR 1981 1979 60 40 i 1979 80 - i \r\ 1 40 120 1981 CHART 2 3-MONTH FORWARD EXCHANGE RATES PREMIUM (+) OR ( - ) AVERAGES FOR WEEK ENDING WEDNESDAY :ENT PER ANNUM PERCENT PER AL 6 24 CANADIAN DOLLAR ITALIAN LIRA - + 0 x I 6 I I I I I - X + / 0 Vs 24 6 12 U. K. POUND DUTCH GUILDER 0 6 6 0 12 6 + 18 12 GERMAN MARK SWISS FRANC - w jj A - 12 6 6 0 - I I I 1 1 0 1 12 12 FRENCH FRANC JAPANESE YEN 6 6 0 + 0 6 6 1979 1981 1979 1981 CHART 3 PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY U.S. [ L L A R S PER F I N E O U N C E U.S. D O L L A R S PER F I N E < UNCE 800 800 750 750 700 700 650 650 600 600 550 550 500 500 12.5 Kg BARS A F T E R N O O N FIXING PRICE 450 450 400 400 350 350 300 300 250 250 200 200 150 150 I I I I I I I 100 1978 1979 1980 100 1981 CHART 4 CALL MONEY RATES WEEKLY SERIES PERCENT PER M [NT PER A N N U M 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 EURO-SWISS FRANC 12 12 8 8 NETHERLANDS 4 4 + + 0 0 16 16 FRANCE 12 12 GERMANY 8 8 JAPAN 4 4 EURO-DM 0 lllllI IIIII 1979 1981 1979 0 1981 CHART 5 3-MONTH INTEREST RATES WEEKLY SERIES NT PER A N N U M 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 14 8 10 4 6 0 16 12 LOANS AND DISCOUNTS JAPANESE BANK SWISS INTERBANK RATE I 12 - 4 8 viVj../Y i 4 8 1979 1981 1979 I IIIIIIIIII 1981 0 CHART 6 EURO-DOLLAR DEPOSIT RATES LONDON AVERAGES FOR WEEK ENDING WEDNESDAY ANNUM PERCENT PER 24 24 3-MONTH OVERNIGHT 20 20 16 16 12 12 8 8 4 4 24 24 7-DAY 20 6-MONTH 20 16 16 12 12 8 8 4 4 24 24 1-MONTH 20 1-YEAR 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 P E R C E N T PER A h :NT PER A N N U M 26 26 22 22 FEDERAL FUNDS 18 A 18 3-MONTH EURO-DOLLAR DEPOSITS 14 14 10 10 OVERNIGHT EURO-DOLLAR DEPOSITS I 6 I I I I I I I I I I I I I I I I I I I I I I I I I 6 3 3 2 DIFFERENTIAL 2 DIFFERENTIAL 1 1 0 0 1 1 2 2 3 3 ii 111111111111111111111 I I I I I I I I I I I I I I I I I I I I I I I 4 1979 I PERCENT ON DIFFERENTIAL SCALE = 2 PERCENT ON RATE SCALE 1981 1979 1981 4 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 12 INTERBANK STERLING U. S. COMMERCIAL PAPER I COVERED LONDON - DIFFER ENTIAL - " l I \ I I I I I A : i V i - J I DIFFERENTIAL I IIIIIIIIII INTERBANK DM COVERED FRANKFURT SWISS INTERBANK (SF) COVERED EURO-DOLLAR DEPOSITS EURO-DOLLAR DEPOSITS DIFFERENTIAL 1979 DIFFERENTIAL 1981 1 PERCENT ON DIFFERENTIAL SCALE = 2 PERCENT ON RATE SCALE 1979 1981 CHART 9 LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES ENT PER A N N U M PERCENT PER M 15 15 CANADA UNITED STATES 13 13 — — 11 11 9 9 7 " i l l I I I 7 n l i i l i i l i i 12 9 10 7 SWITZERLAND 8 5 GERMANY 6 3 4 1 16 17 FRANCE 14 15 UNITED KINGDOM 12 13 10 11 8 9 NETHERLANDS 7 6 14 U. S. CORPORATE 12 Aaa BONDS 10 8 ' V/ I/s\ EURO-DOLLAR / - JAPAN 11 Z 9 7 BONDS 6 I 1979 13 MONTHLY MONTHLY 1981 I I I I I 1979 I lllllllllll 1981 5 CHART 10 INDUSTRIAL STOCK INDICES WEEKLY SERIES RATIO S C A L E 1969=100 RATIO S C A L E 1969=100 180 160 180 - 140 UNITED STATES 120 — 100 - A — /VV ' / - GERMANY - - X v Az^v - 1/V AJ - 1 1 1 mImInIi, I I 1 120 80 100 - - 90 SWITZERLAND JAPAN 80 320 280 - 240 — 200 ^ " 400 360 * 100 V 80 160 140 — - 1 1 70 - jsT 60 I i l l I III I I I 1 111 200 50 200 180 160 UNITED KINGDOM 140 FRANCE 120 GENERAL INDEX I 100 100 k 80 1979 1981 1979 1981 LAST VALUE PLOTTED DATE VALUE SERIES NAME 4 JCHART 1. SPOT EXCHANGE BATES AND INDICES WEEKLY A V E R A G E S , NOON BUYING RATES (D.S. CENTS) G E R M A N MARK J A P A N E S E TEN DUTCH GUILDER U.K. POUND C A N A D I A N DOLLAR FRENCH FRANC SWISS FRANC BELGIAN FRANC ITALIAN LIRA MARCH MARCH MARCH MARCH MARCH MARCH MARCH MARCH MARCH 11 11 11 11 11 11 11 11 11 47.14 0.48148 42.60 221.12 83.42 20.00 51.59 2.87381 0.09725 MARCH MARCH MARCH MARCH MARCH MARCH MARCH MARCH MARCH 11 11 11 11 11 11 11 11 11 132.62 126.07 122.30 89.44 83.14 90.13 165.98 113.24 55.25 11 11 11 11 11 11 11 11 11 11 11 96.71 135.82 125.85 120.58 85.87 79.66 86.48 163.92 110.87 51.32 92.59 11 11 11 11 11 11 11 11 -0.69 3.66 2.80 3.59 7.38 5.05 8.02 -2.03 INDICES, MARCH 1973 BASE RATES = 100 G E R M A N MARK J A P A N E S E TEN DUTCH GUILDER O.K. POUND C A N A D I A N DOLLAR FRENCH FRANC SWISS F R A N C BELGIAN FRANC ITALIAN LIRA :GHTBD A V E R A G E EXCHANGE VALUE INDICES, MAR 1973 = 100 (G-10 COUNTRIES PLUS SWITZERLAND) U.S. DOLLAR G E R M A N MARK JAPANESE TEN DUTCH GUILDER O.K. POUND C A N A D I A N DOLLAR F R E N C H FRANC SWISS F R A N C BELGIAN FRANC ITALIAN LIRA SWEDISH KRONA MARCH MARCH MARCH MARCH MARCH MARCH MARCH MARCH MARCH MARCH MARCH CHART 2. 3-MONTH F O R W A R D EXCHANGE RATES, PREMIUM OR DISCOUNT CANADIAN DOLLAR U.K. POUND G E R M A N MARK FRENCH FRANC SWISS F R A N C DUTCH GUILDER J A P A N E S E TEN ITALIAN LIRA MARCH MARCH MARCH MARCH MARCH MARCH MARCH MARCH ' T I .llU* V 'O an.iAv LAST VALUE PLOTTED DATE VALUE SERIES NAME :HABT 3. GOLD PRICE IN LONDON, AFTERNOON FIXING TO e !3 riUR'JXS MARCH 11 U.S. DOLLARS PER FINE OUNCE „f r.-;;> 473.25 n CHARHf m.r CAIAl RATES iUiS. FEDERAL FUNDS OVERNIGHT EURO-DOLLAR DEPOSITS U.K. 12*-DAY LOCAL AUTHORITY DEPOSITS CANADA GERMANY ' ran" a EURO^DM • J APAUr C FRANCE NETHERLANDS EURO-SWISS FRANC CHART 5..3-MONTH INTEREST RATES t r ; • . U.S4 90-R&Y CD'S, SECONDARY MARKET GERMAN INTERBANK LOAN JAPANESE BANK LOANS & DISCOUNTS t S , iCANADIAtUFINANCE PAPER . -S . :INTE»tA8R STERLING SWISS INTERBANK LOAN WEIGHTED AVERAGE FOREIGN INTEREST -RATE (G-10 COUNTRIES PLUS SWITZERLAND) ' MARCH MARCH MARCH MARCH MARCH FSB. MRCH MARCH FEB. '' FEB, !,; ' «t 11 ' 15.53 11- > >5.73 ' 6 > 16.50 16.60 6 6 " 12.00 27 - 12.05 6 - * 4.50 " 6 - 11.50 9.00 20 27 :avsm f • • • r • " vy ' 11 ' t5.40 '14.10 11 '8.25 11 11 -17.16 11 12.50 11 • - 8 . 8 2 11 12.81 <"/>. MARCH MARCH MARCti MARCH il ARCH l MARCH MARCH CHART 1 6. EURO-DOLLAR DEPOSIT RATES: LONDON - ' * fi » ' ] • i-f V ' * ) OVERiNIGHTT <? MARCH 11 15.73 7-D4Y ' MARCH 11 15.80 MONTH • MARCH 11 16.14 1 3-MONTH MARCH 11 16.31 6-MONTH MARCH 1T • 16.30 T8 „0 IT-YEAR ' ' MARCH 11 15.84 SC.fr if U if HOS.i" ^ , Xa 3 0 . 1 . : 1 CHART 7. SELECTED EURO-DOLLAR AND U.S. MONEY MARKET RATES (.0 ; sd»t v?S ».Pe,,£ St.t <?0.5 OVERNIGHTomSQ-#Ql%#;DEPOSI%S, z,,.; _ MARCH 11 15.73 U.S. FEDERAL FUNDS " " — • 'f AKCH : ^lt 15.53 r DIFFERENTIAL ADJ. FOR RESERVE REQUIREMENTS MARCH 11 0.20 rr T? < t '•:: • " ( J A ^ AB A:• :: 3-MONTH^EURO-DOLLAR DEPOSIT RATE MARCH 11 16.31 U.Si.i 9 0 - P M CD'S, SECONDARY MARKET MARCH 15.40 DIFFERENCIAL A&R&H 11 •' 0.91 rf r i t* " M ' i SSIS?: JIi SERIES NAME C H A R T 8. I N T E R E S T A R B I T R A G E , LAST VALUE PLOTTED DATE VALUE 3-MONTH FUNDS EURO-DOLLAR 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 11 11 11 16. 31 16. 27 0. 04 U.S. C O M M E R C I A L PAPER CANADIAN FINANCE PAPER, COVERED DIFFERENTIAL MARCH MARCH MARCH 11 11 11 14. 89 16. 44 - 1 . 56 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 M A R C H 11 M A R C H 11 M A R C H 11 16. 31 17. 00 - 0 . 69 EURO-DOLLAR DEPOSIT SWISS I N T E R B A N K , C O V E R E D DIFFERENTIAL MARCH MARCH MARCH 11 11 11 16. 31 16. 37 - 0 . 06 MARCH FEB, FEB. FEB. MARCH NOV. FEB. FEB. 6 27 13. 43 10. 52 8. 79 5. 20 13. 41 14. 24 10. 68 11. 62 C H A R T 9. L O N G T E R M G O V E R M E N T B O N D Y I E L D S UNITED STATES GERMANY J A P A N (MONTHLY) SWITZERLAND CANADA FRANCE NETHERLANDS UNITED KINGDOM U. 27 6 28 20 27 CORPORATE AAA BONDS EURO-DM BONDS EURO-DOLLAR BONDS FEB. DEC. JAN. 13. 35 6. 63 11. 94 C H A R T 10. I N D U S T R I A L S T O C K I N D I C E S UNITED STATES JAPAN FRANCE UNITED KINGDOM SWITZERLAND GERMANY 6 MARCH 6 MARCH F E B . 20 6 MARCH 6 MARCH F E B . 20 138. 65 3 3 7 . 76 147. 90 119. 11 73i 9" 94. 61 FEDERAL RESERVE statistical release :::::: MARCH 16, 1981 FOREIGN EXCHANGE RATES FOR THE WEEK ENDING MARCH 13, 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 NEW ZEALAND NORWAY PORTUGAL SOUTH AFRICA SPAIN SRI LANKA SWEDEN SWITZERLAND UNITED KINGDOM MONETARY UNIT M%R. DOLLAR SCHILLING FRANC DOLLAR KRONE MARKKA FRANC D. MARK RUPEE POUND LIRA YEN DOLLAR PESO GUILDER DOLLAR KRONE ESCUDO RAND PESETA RUPEE KRONA FRANC POUND 115.6900 6.62691 2.88184 63.4934 15.0150 24.4379 20.0642 47.4271 12.1000 172.5000 0.09732 0.48544 43.7637 4.2301 42.7807 91.5000 18.4417 1.7513 127.4000 1.1507 5.5991 21.5169 51.8403 221.5000 9 MA!;. 10 (RATE U.S. CENTS MAS. 11 116.2000 6.69120 2.89855 83.5282 15.1114 24.5640 20.1329 47.4496 12.1500 173.6000 0.09775 0.48309 44.0141 4.2265 42.9000 92.1000 18.5529 1.7590 127.4000 1.1614 5.5991 21.6638 52.0021 222.8000 116.1100 6.68003 2.87439 83.4307 1^.1057 24.6184 20.0280 47.2590 12.2500 172.0000 0.09739 0.48170 44.1501 4.2265 42.7077 92.0300 18.5117 1.7621 126.7000 1.1602 5.5991 21.4592 51.6262 221.6500 MAR. 12 MAR. 13 116.1200 6.68896 2.88517 83.4724 15.0376 24.5700 20.0642 47.3261 12.2200 172.3000 0.09758 0.48170 44.1209 4.2283 42.7442 92.0000 18.5151 1.7621 126.6500 1.1605 5.5991 21.6685 51.6262 221.9000 116.2200 6.68896 2.88850 83.8504 15.0546 24.6305 20.0884 47.4046 12.1500 172.8000 0.09761 0.48181 44.1306 4.2248 42.8266 91.9800 18.5357 1.7621 126.4000 1.1635 5.5249 21.6450 51.8941 221.7000
@FedFRASER