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(516/517) Selected Interest Exchange Rates W e e kly Series o f Charts March 17,1980 Prepared by the F IN A N C IA L M A R K E T S S E C T IO N DIVISION O F IN T E R N A T IO N A L F IN A N C E BO A R D O F GO VER 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 o f 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, 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. 2. D A IL Y C E R T IF IE D SPOT EXCHANGE RATES-H.10 RELEASE CHARTS 1. SPOT EXCHANGE RATE INDICES 2. 3-MONTH FORWARD 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-DOLLAR AND U.S. MONEY 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 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 - FOREIGN CURRENCY PRICE OF U.S. DOLLAR 60 180 160 140 120 100 160 140 120 100 1978 1980 1978 1980 CHART 2 3-MONTH FORWARD EXCHANGE RATES PREMIUM (+) OR ( - ) AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER ANNUM PERCENT PER ANNUM + 0 24 1978 1980 1978 1980 CHART 3 PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY U.S. c US. DOLLARS PER FINE OUNCE LLARS PER FINE OUNCE 800 800 750 750 700 700 650 650 600 600 550 550 t2 .5 Kg BARS AFTERNOON FIXING PRICE 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 8 12 @ 4 0 12 4 0 12 8 4 8 + 0 4 0 4 1978 1980 1978 1980 CHART 5 3-M ONTH INTEREST RATES WEEKLY SERIES PERCENT PER Af :NT PER ANNUM 18 20 14 16 10 12 6 8 WEIGHTED AVERAGE POREIGK RATE 2 l I I I I I l 4 t4 10 10 6 6 2 12 8 8 4 4 0 1978 1980 1978 1980 CHART 6 EURO-DOLLAR DEPOSIT RATES Londo n AVERAGES FOR WEEK ENDING WEDNESDAY ENT PER ANNUM RCENT PER M 18 18 14 14 OVERNIGHT 10 10 6 6 18 18 14 14 10 10 6 6 18 18 14 14 1-MONTH 10 10 6 6 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 PER C EN T PER ANNUM 18 - 14 10 l 111111111111111111111111 +0 I 1978 1 P E R C EN T ON D IF F E R E N T IA L SC A LE = 2 PERCENT ON RATE SC A LE 1980 1978 1980 CHART 8 INTEREST ARBITRAGE: 3-MONTH FUNDS DIFFERENTIAL: PLUS(+), INDICATES FAVOR DOLLAR ASSETS AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER PERCENT ANNUM PER ANNUM 20 20 16 16 12 12 8 8 4 4 0 0 4 2 2 + 0 + 0 2 2 4 16 16 12 12 8 8 4 4 2 2 + 0 + 0 2 2 1 PERC ENT ON D IF F E R E N T IA L SC A LE = 2 PERCENT ON RATE S C A LE CHART 9 LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES PERCEN T P ER ANNUM P ERCEN T PER ANNUM J — / UNITED STATES — f\j - J - L - L 1978 — lllllllllll lllllllllll 1980 iT CANADA l j 1 . i l 1 1978 - f* .1111.11111.1 L l l l l l l l l l l l 1980 CHART 10 INDUSTRIAL STOCK INDICES WEEKLY SERIES R A T IO 1969= 140 120 UNITED STATES 100 80 1_L iiiiiii 400 360 JAPAN 320 280 240 200 *40' 120 100 80 160 160 FRANCE 140 GENERAL INDEX 140 120 120 100 100 80 80 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 MARCH MARCH MARCH MARCH MARCH MARCH MARCH MARCH MARCH 12 12 12 12 12 12 12 12 12 55.43 0.40369 50.50 222.75 86.11 23.69 57.95 3.41256 0.11937 MARCH MARCH MARCH MARCH MARCH MARCH MARCH MARCH MARCH 12 12 12 12 12 12 12 12 12 155. 94 105-70 144.97 90-09 85.82 106.76 186.42 134.47 67.81 12 12 12 12 12 12 12 12 12 12 12 88.67 151.93 95.70 134.44 80.28 76.59 96.80 172.18 123.63 59.45 93.91 12 12 12 12 12 12 12 12 3.89 -0.09 9.37 3.95 12.04 6.56 4.41 -2.19 INDICES, MARCH 1973 BASE RATES = 1 0 0 GERMAN MARK JAPANESE YEN DUTCH GUILDER U.K. POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC BELGIAN FRANC ITALIAN LIRA WEIGHTED AVERAGE EXCHANGE VALUE INDICES, MAR 1973 = 100 (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 MARCH MARCH MARCH MARCH MARCH MARCH MARCH MARCH MARCH MARCH MARCH CHART 2. 3 -MONTH FORWARD EXCHANGE 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 MARCH LAST VALUE PLOTTED DATE VALUE SERIES NAME CHART 3. GOLD PRICE IN LONDON, AFTERNOON FIXING U.S. DOLLARS PER FINE OUNCE MARCH 12 595.19 CHART 4. CALL MONEY RATES MARCH MARCH MARCH MARCH MARCH FEB. MARCH MARCH FEB. FEB. 12 12 7 7 7 29 7 7 15 29 16..45 15..88 17..00 12..68 8,.70 7..44 9..50 13..13 11..10 0..31 MARCH MARCH MARCH MARCH MARCH MARCH MARCH 12 12 12 12 12 12 12 17.60 9.42 11.60 14.44 18.28 6.45 12.71 MARCH MARCH MARCH MARCH MARCH MARCH 12 12 12 12 12 12 15.88 16.55 17.86 18.58 18.45 17.40 OVERNIGHT EURO-DOLLAR DEPOSITS U..S. FEDERAL FUNDS DIFFERENTIAL ADJ. FOR RESERVE REQUIREMENTS MARCH 12 MARCH 12 MARCH 12 15.88 16.45 -0.57 3-MONTH EURO-DOLLAR DEPOSIT RATE U.S. 90-DAY CD'S, SECONDARY MARKET DIFFERENTIAL MARCH 12 MARCH 12 MARCH 12 18.58 17.60 0.97 U.S. FEDERAL FUNDS OVERNIGHT EURO-DOLLAR DEPOSITS U. K. 2-DAY LOCAL AUTHORITY DEPOSITS CANADA GER MANY EURO-DM JAPAN FRANCE NETHERLANDS EURO-SWISS FRANC CHART 5. 3 - MONTH INTEREST RATES U.S. 90-DAY CD* 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-1U COUNTRIES PLUS SWITZERLAND) CHART 6. EURO-DOLLAR DEPOSIT RATES: LONDON OVERNIGHT 7-DAY 1-MONTH 3-MONTH 6 - MONT? 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 MARCH 12 MARCH 12 MARCH 12 18.58 18.18 0.39 U.S. COMMERCIAL PAPER CANAD IAN FINANCE PAPER, COVERED DIFFERENTIAL MARCH 12 MARCH 12 MARCH 12 17.01 18.47 -1.46 EURO-DOLLAR DEPOSIT INTERBANK DM (FRANKFURT) , COVERED DIFFERENTIAL MARCH 12 MARCH 12 MARCH 12 18.58 19.01 -0.43 EURO-DOLLAR DEPOSIT SWISS INTERBANK, COVERED DIFFERENTIAL MARCH 12 MARCH 12 MARCH 12 18.58 18.68 -0,11 7 22 12.94 8.62 8.50 4.54 13.04 12.57 10.10 12.32 CHART 9. LONG TERM GOVERMENT BOND YIELDS UNITED STATES GERMANY JAPAN (MONTHLY) SWITZERLAND CANADA FRANCE NETHERLANDS UNITED KINGDOM MARCH FEB. JAN. FEB. MARCH JAN. FEB. MARCH 22 7 11 15 7 U.S. CORPORATE AAA BONDS EURO-DM BONDS EURO-DOLLAR BONDS CHART 10. FEB. DEC. JAN. 12.38 6.63 10.35 INDUSTRIAL STOCK INDICES UNITED STATES JAPAN CANADA FRANCE UNITED KINGDOM SWITZERLAND GERMANY 7 MARCH MARCH 7 DEC. 29 FEB. 22 7 MARCH MARCH 7 FEB. 22 117..27 308..52 1 13..81 155..30 109.,67 76..19 100..07
@FedFRASER