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(516/517) Selected Interest Exchange Rates W eekly Series o f Charts March 24.1 960 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 FIG URES 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 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 FORW ARD EXCHANGE RATES 3. GOLD PR IC E -LO N D O N 4. CALL MONEY RATES 5. 3-M ONTH IN TER EST RATES 6. EURO DOLLAR DEPOSIT RATES 7. SELECTED EURO D O LLA R A ND U.S. M O NEY M A R K E T RATES 8. INTEREST A R B ITR A G E : 3-M O N TH FUNDS 9. LONG-TERM G O V E R N M E N T BOND Y IELDS 10. IN D U S T R IA L STOCK INDICES 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=100 120 120 100 100 80 - 80 FOREIGN CURRENCY PRICE OF U.S. DOLLAR 60 60 180 120 160 140 100 120 80 100 240 200 160 120 160 160 140 140 120 120 100 100 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 + 0 24 1978 1980 1978 1980 CHART 3 PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY U .S . c 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 I I l I I l I I l I I 100 1977 1978 1979 100 1980 CHART 4 CALL MONEY RATES WEEKLY SERIES PERCENT PER Ah NT PER ANNUM 20 20 16 16 OVERNIGHT EURO-DOLLARS 12 12 8 8 4 4 16 2a 12 16 12 8 8 4 0 12 4 0 12 8 4 8 + 0 4 4 0 1978 1980 1978 1980 CHART 5 3-MONTH INTEREST RATES WEEKLY SERIES PERCENT PER :NT PER ANNUM JUM 20 20 16 16 U .S . CD’ S 12 12 8 8 4 4 10 14 10 6 6 2 12 16 12 8 LOANS AND DISCOUNTS JAPANESE BANK 8 4 4 0 1978 1980 1978 1980 CHART 6 EURO-DOLLAR DEPOSIT RATES L o ndo n AVERAGES FOR WEEK ENDING WEDNESDAY P ERCEN T PER AN :NT PER ANNUM 20 20 16 16 OVERNIGHT 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 CH ART 7 SELECTED EURO-DOLLAR AND U. S. MONEY MARKET RATES DIFFERENTIAL: PLUS(+), FAVORS BORROWING IN U. S. AVERAGES FOR WEEK ENDING WEDNESDAY PER C EN T PER ANNUM P ER C E N T PER ANNUM 2 o+ 1 1 2 1978 1 PERC ENT ON D IF F E R E N T IA L S C A L E = 2 PERCENT ON RATE SC A LE 1980 CHART 8 INTEREST ARBITRAGE: 3-M ONTH FUNDS DIFFERENTIAL: PLUS(+), INDICATES FAVOR DOLLAR ASSETS AVERAGES FOR WEEK ENDING WEDNESDAY NT PER PERCENT ANNUM PER AN 20 20 16 16 EURO-DOLLAR DEPOSITS 12 12 8 8 4 4 0 4 0 2 2 + 0 + 0 2 2 4 16 16 INTERBANK DM CO VERED f FRA NKFURT 12 12 8 8 4 4 2 2 + 0 + 0 2 2 1 PERC ENT ON D F F E R E N T IA L SC A LE = 2 PERCENT ON RATE SC ALE CHART 9 LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES PERCENT PER Al ENT PER ANNUM 14 15 12 13 10 11 8 9 6 10 7 6 8 4 6 2 0 4 14 15 12 13 10 11 8 9 6 7 13 U. S. CORPORATE 10 m o n th ly 11 8 9 6 7 4 1978 1980 CHART 10 INDUSTRIAL STOCK INDICES WEEKLY SERIES R A T IO 1969= 140 UNITED STATES 120 A /V 100 w 80 I I I I I I n l i i h i l i i 11111111111 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 80 160 160 FRANCE GENERAL INDEX 140 140 120 120 100 100 80 80 1978 1980 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 19 19 19 19 19 19 19 19 19 53.90 0.40199 49.11 220.00 84.89 23.09 56.56 3.32202 0.11570 MARCH MARCH MARCH MARCH MARCH MARCH MARCH MARCH MARCH 19 19 19 19 19 19 19 19 19 151.62 105.26 140.98 88.98 84.61 104.05 181.97 130.90 65.73 19 19 19 19 19 19 19 19 19 19 19 90.56 149.83 97.04 132.81 80.66 76.78 95.80 170.84 122.29 58.51 93.78 19 19 19 19 19 19 19 19 4.07 0.81 10.02 4.83 12.41 8.01 4.27 -1.42 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, MAE 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 :ART 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 19 514.40 CHART 4. CALL MONEY RATES U.S. FEDERAL FUNDS OVERNIGHT ETJRO-DOLLAR DEPOSITS U.K. 2-DAY LOCAL AUTHORITY DEPOSITS CANADA GERMANY EURO-DM JAPAN FRANCE NETHERLANDS EURO-SWISS FRANC MARCH MARCH MARCH MARCH MARCH MARCH MARCH MARCH FEB. MARCH 19 19 14 7 14 14 14 14 29 14 16.24 16.21 16.75 12.68 8.50 7.79 9.81 13.00 10.65 4.63 MARCH MARCH MARCH MARCH MARCH MARCH MARCH 19 19 19 19 19 19 19 18.04 9.49 13.17 14.75 17.80 6.88 12.97 MARCH MARCH MARCH MARCH MARCH MARCH 19 19 19 19 19 19 16.21 16.92 18.60 18.98 19.00 17.56 OVERNIGHT EURO-DOLLAR DEPOSITS U.S. FEDERAL FUNDS DIFFERENTIAL ADJ. FOR RESERVE REQUIREMENTS MARCH 19 MARCH 19 MARCH 19 16.21 16.24 -0.03 3-MONTH EURO-DOLLAR DEPOSIT RATE U.S. 90-DAY CD'S, SECONDARY MARKET DIFFERENTIAL MARCH 19 MARCH 19 MARCH 19 18.98 18.04 0.94 CHART 5. 3-MONTH INTEREST RATES U.S. 90-DAY C D ’S, SECONDARY MARKET GERMAN INTERBANK LOAN JAPANESE BANK LOANS & 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-MONTH 6-MONTH 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 I N TERBANK STERLING (LONDON), COVERED DIFFERENTIAL MARCH 19 MARCH 19 MARCH 19 18.98 18.64 0.33 U.S. COMMERCIAL PAPER CANADIAN FINANCE PAPER, COVERED DIFFERENTIAL MARCH 19 MARCH 19 MARCH 19 17.10 18.97 -1.87 EURO-DOLLAR DEPOSIT INTERBANK DM (FRANKFURT) , COVERED DIFFERENTIAL MARCH 19 MARCH 19 MARCH 19 18.98 19.75 -0.77 EURO-DOLLAR DEPOSIT SWISS INTERBANK, COVERED DIFFERENTIAL MARCH 19 MARCH 19 MARCH 19 18.98 19.50 -0.53 14 7 12.54 9.26 9.33 4.80 13.04 12.57 11.18 12.35 CHART 9. LONG TERM GOVERMENT BOND YIELDS UNITED STATES GERMANY JAPAN (MONTHLY) SWITZERLAND CANADA FRANCE NETHERLANDS UNITED KINGDOM MARCH MARCH FEB. MARCH MARCH JAN. FEB. MARCH 7 7 11 29 14 U.S. CORPORATE AAA BONDS EURO-DM BONDS EURO-DOLLAR BONDS 12.38 6.63 10.35 FE3. DEC. JAN. CHART 10. INDUSTRIAL STOCK INDICES UNITED STATES JAPAN CANADA FRANCE UNITED KINGDOM SWITZERLAND GERMANY MARCH MARCH DEC. FEB. MARCH MARCH MARCH 14 14 29 22 14 14 7 112.83 301.01 113.81 155.30 105.98 73.44 95.17
@FedFRASER