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(516/ 517) Selected Interest Exchange Rates W eekly Series o f Charts March 3,198 0 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 G O 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 FIG UR ES PLO TTED 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-M O N TH FORW ARD EXCHANGE RATES a GOLD PR ICE -LONDON * 4. C A LL M O NEY RATES 5. 3-M O N TH INTEREST 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. IN TER EST A R B ITR A G E : 3-M ONTH FUNDS 9. LONG-TERM G O V ER N M EN T BOND Y IE L D 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 R A T IO SCALE MARCH MARCH 1973=100 SCALE 1973=100 120 120 100 100 80 - FOREIGN CURRENCY PRICE OF U.S. DOLLAR 80 100 200 - 160 120 160 160 BELGIAN FRANC 140 ^ A ,y~v 120 . a r ,— - x _ — 140 / ^ DUTCH GUILDER 100 - l I I I n .................... 11111 I I I l l I 11111111111 iiliiliiln 100 80 ITALIAN LIRA ' ■ ' I 1 i I I I ...I.. I 1978 I iiliiliiln iiliiliiln 1980 CHART 2 3-M ONTH FORWARD EXCHANGE RATES PREMIUM (+) OR ( - ) AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER PERCENT ANNUM PER ANNUM + 0 24 12 6 + 0 6 1978 1980 1978 1980 CHART 3 PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY as. c U.S. DOLLARS PER FINE < LLARS PER FINE OUNCE 800 800 750 750 700 700 650 650 600 600 550 550 12.5 Kg BARS AFTERNOON FIXING PRICE 500 500 450 450 400 400 350 350 300 300 250 250 200 200 150 150 ..L.l 100 1977 1978 1979 100 1980 CHART 4 CALL MONEY RATES WEEKLY SERIES PERCENT PER ANNUM PERCENT PER ANNUM 1978 1980 1978 1980 CHART 5 3-MONTH INTEREST RATES WEEKLY SERIES :n t p e r P ERCEN T PER Ah annum 18 20 14 16 10 12 6 8 2 4 14 10 10 6 6 2 10 8 LOANS AND DISCOUNTS JAPANESE BANK 6 2 4 l l l l l 1978 l iiliilu lii 0 i i l n l n l i 1980 1978 1980 CHART 6 EURO-DOLLAR DEPOSIT RATES Lo ndo n AVERAGES FOR WEEK ENDING WEDNESDAY 18 18 14 14 10 10 6 6 18 18 14 14 10 10 6 6 18 18 14 14 10 10 6 6 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 PERCENT PER ANNUM 2 IO + 1 1 2 1978 1 PE R C E N T 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 O NTH FUNDS DIFFERENTIAL: PLUS(+), INDICATES FAVOR DOLLAR ASSETS AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER PERCENT ANNUM PER ANNUM 20 16 12 8 4 0 2 + 0 2 4 1 PE RC ENT ON D IF F E R E N T IA L S C A LE = 2 PERCENT ON RATE S C A LE CHART 9 LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES 14 13 — - 12 11 UNITED STATES - CANADA - /V 10 9 ...i....i . ,ni,i i Lulu, ■i.i.l jllI-llLll 7 10 8 6 8 4 § 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 RATIO SCALE 1969= TOO 400 860 JAPAR 320 280 240 200 ... L L l I I I -til u In Li j. , n l u l a, Li,i 140 CANADA 120 DISCONTINUED SER €S 100 80 160 160 140 140 120 120 100 100 80 80 SERIES NAME LAST VALUE PLOTTED DATE VALUE CHART 1 . SPOT EXCHANGE RATES AND INDICES WEEKLY AVERAGES* NOON BUYING RATES I U . S . CENTS) GERMAN MARK JAPANESE YEN DUTCH GUILDER U . K . POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC BELGIAN FRANC I T A L I A N LIRA FE8. FEB. FEB. FEB. FEB. FEB. FEB. FEB. FEB. 27 27 27 27 27 27 27 27 27 56.89 0.40375 51.61 22 8.0 1 86 .93 24 .2 6 60.19 3.50240 0.12291 FE3. FEB. FEB. FEB. FEB. FEB. FEB. FEB. FEB. 27 27 27 27 27 27 27 27 27 16 0.0 3 105.71 148.17 92.22 86.64 109.30 193.64 138.01 69 .8 2 27 27 27 27 27 27 27 27 27 27 27 86.8 7 153.72 94.01 135.27 80.93 7 6.0 4 97.60 176 .10 124.92 60.29 94.39 27 27 27 27 27 27 27 27 2.5 5 -1 .7 7 7.23 2.54 11 .0 0 3.90 6.30 -2.85 I N DI CE S , MARCH 1973 BASE RATES = 100 GERMAN MARK JAPANESE YEN DUTCH GUILDER U . K . POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC BELGIAN FRANC I TA L IA N LIRA WEIGHTED AVERAGE EXCHANGE VALUE INDICES, MAR 1973 = 100 ( G -1 0 COUNTRIES PLUS SWITZERLAND) U . S . DOLLAR GERMAN MARK JAPANESE YEN DUTCH GUILDER U . K . POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC BELGIAN FRANC I T A L I A N LIRA SWEDISH KRONA FEB. FEB. FEB. FEB. FEB. FEB. FEB. FEB. FEB. FEB. FEB. 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 I TA L IA N LIRA FEB. FEB. FEB. FEB. FEB. FEB. FEB. FEB. LAST VALUE PLOTTED DATE VALUE SERIES NAME CHART 3 . GOLD PRICE IN LONDON, AFTERNOON F I X I N G U . S . DOLLARS PER FINE OUNCE FEB. 27 637.95 FEB. FEB. FEB . F EB . FEB . FEB. FEB. FEB. FEB. FEB. 27 27 29 22 29 8 29 29 15 8 14.62 14.35 17.63 12.65 8 .0 0 8.14 9.44 13.00 11.10 1.7 2 FEB. FEB. FEB . FEB. FEB. FEB. FEB. 27 27 27 27 27 27 27 15.30 9.04 9.80 13 .9 7 17.76 5.50 12.05 FEB . FEB. FEB. FEB. FEB. FEB. 27 27 27 27 27 27 14.35 15 .0 9 15.81 16.46 16 .4 8 16.03 OVERNIGHT EURO-DOLLAR DEPOSITS U . S . FEDERAL FUNDS DIFF ERENTIAL ADJ. FOR RESERVE REQUIREMENTS FEB. 27 FEB. 27 FEB. 27 14.35 14.62 -0 .2 7 3-MONTH EURO-DOLLAR DEPOSIT RATE U . S . 90-DAY C D ' S , SECONDARY MARKET DIF FERENTIAL FEB. 27 FEB. 27 FEB. 27 16.46 15.30 1 .1 6 CHART 4 . CALL MONEY RATES U . S . FEDERAL FUNDS OVERNIGHT EURO-DOLLAR DEPOSITS U . K . 2-DAY LOCAL AUTHORITY DEPOSITS CANADA GERMANY EURO-DM JAPAN FRANCE NETHERLANDS EURO-SWISS FRANC 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 - I O COUNTRIES PLUS SWITZERLAND) CHART 6 . EURO-DOLLAR DEPOSIT RATES: LONDON OVERNIGHT 7-DAY 1-MONTH 3-MONTH 6-MONTH 1-YEAR CHART . SELECTED EURO-DOLLAR AND U . S . MONEY MARKET RATES SERIES NAME CHART 8 . LAST VALUE PLOTTED DATE VALUE INTEREST ARBITRAGE, 3-MONTH FUNDS EURO-OOLLAR DEPOSIT INTERBANK STERLING (LONDON), COVERED DIFFERENTIAL FEB. 27 FEB . 27 FEB. 27 16,.46 15,.91 0,.55 U . S . COMMERCIAL PAPER CANADIAN FINANCE PAPER, COVERED DIFFERENTIAL FEB. 27 FEB. 27 PEB. 27 14,.60 16,.61 - 2 , .01 EURO-DOLLAR DEPOSIT INTERBANK DM (F RANKFURT), COVERED DIFF ERENTIAL F E B . 27 FEB. 27 FEB. 27 16,.46 16..44 0,.03 EURO-DOLLAR DEPOSIT SWISS INTERBANK, COVERED DIFF ERENTIAL FEfr. 27 FEB. 27 FEB. 27 16,.46 16..65 - 0 . ,18 FEB. 22 FEB. 15 JAN. FEB. 15 FEB. 22 JAN. 11 FEB. 15 FEB. 22 12.9 9 8.42 8.50 4.48 12.88 12.57 10 .10 11 .18 FEB. DEC. JAN. 12 .3 8 6 .6 3 10.35 CHART 9 . LONG TERM GOVERMENT BOND YIELDS UNITED STATES GERMANY JAPAN (MONTHLY) SWITZERLAND CANADAFRANCE NETHERLANDS UNITED KINGDOM U . S . CORPORATE AAA BONOS EURO-DM BONDS EURO-DOLLAR BONDS CHART 1 0 . INDUSTRIAL STOCK INDICES UNITED STATES JAPAN CANADA FRANCE UNITED KINGDOM SWITZERLAND GERMANY FEB. FEB. DEC. FEB. FEB. FEB. FEB. 22 22 29 8 22 22 15 122.41 311.84 113.81 154.70 109.17 79.12 99.44
@FedFRASER