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(516/517)
Selected Interest &
Exchange Rates
Weekly Series of Charts
March 3 0 , 1 9 8 1
DIVISION OF
INTERNATIONAL FINANCE
P r e p a r e d by t h e
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
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
120
120
U.K. POUND
100
-
-
J
k
80
-
—
-
100
80
-
FOREIGN CURRENCY
PRICE OF US. DOLLAR
*
-
60
I
I
I IIIIIIIIII
I
180
160
140
GERMAIM MARK
120
100
"
i
l
l
I
I
60
-
I
FRENCH FRANC
\
I
I
I
-
120
-
100
^ ,-
80
l l h l l M l M
160
140
V
JAPANE SE YEN
120
100
SWISS FRANC
I
80
I
I
I
I
I
I l I I I I I I I I I I I I I I I II I I I
160
BELGIAN FRANC
140
L :
120
.
v/
DUTCH(WILDER
100
^
^
:
V
100
-
~ l
I
I
I
I
" m i
I
I
I I
100
100
ITALIAN LIRA
80
60
40
-
60
CANADIAN DOLLAR
I
I
I
I
I
•1979
80
I
40
1981
1979
1981
CHART 2
3-MONTH FORWARD EXCHANGE RATES
PREMIUM (+) OR ( - )
AVERAGES FOR WEEK ENDING WEDNESDAY
PERCENT PER ANNUM
PERCENT PER ANNUM
ITALIAN LIRA
CANADIAN DOLLAR
24
6
DUTCH GUILDER
U. K. POUND
+
0
6
12
18
12
GERMAN MARK
SWISS FRANC
6
+
0
iiliilnlii
12
FRENCH FRANC
JAPANESE YEN
6
+
0
6
iiliilnlii
1979
1981
1979
1981
CHART 3
PRICE OF GOLD IN LONDON
AVERAGES FOR WEEK ENDING WEDNESDAY
U.S. c
LLARS PER FINE OUNCE
U.S. DOLLARS PER FINE OUNCE
800
800
750
750
700
700
650
650
600
600
550
550
500
500
1&5 Kg BARS
AFTERNOON FIXING PRIQE
450
450
400
400
350
350
300
300
250
250
200
200
150
150
i i .1 i i I i i I i i
100
191%
1979
11980
JLL
1981
100
CHART 4
CALL MONEY RATES
WEEKLY SERIES
PERCENT PER At
•NT PER ANNUM
28
28
24
24
U. K. 2-DAY LOCAL AUTHORITY
U. S. FEDERAL FUNDS
20
20
16
16
12
12
8
8
I I I I I III I I I I I i l l !
4
4
24
24
20
20
16
EURO-SWISS FRANC
16
CANADA
12
12
8
8
NETHERLANDS
4
4
+
+
0
0
16
16
FRANCE
12
-
GERMANY
1
-
8
8
JAPAN
4
-
p*
1979
1981
4
EURO-DM
I
0
12
i
r l
I
I
1979
I
11 It Mi i l l i i l l ii h i l i i
1981
0
CHART 5
3-MONTH INTEREST RATES
WEEKLY SERIES
PER
PER ANNUM
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
CANADIAN FINANCE CO. PAPER
12
GERMAN INTERBANK RATE
14
8
10
4
6
0
16
12
JAPANESE BANK
LOANS AND DISCOUNTS
SWISS INTERBANK RATE
12
8
8
4
4
0
1979
1981
1979
1981
CHART 6
EURO-DOLLAR DEPOSIT RATES
LONDON
AVERAGES FOR WEEK ENDING WEDNESDAY
PERCENT PER At
ENT PER ANNUM
24
24
3-MONTH
OVERNIGHT
20
20
16
16
12
12
8
8
4
4
24
24
6-MONTH
7-DAY
20
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
PERCENT PER ANNUM
PERCENT PER ANNUM
26
26
22
-
18
—
FEDERAL FUNDS
-
14
A
in
—
—
10
i
k
If]
I
—
pj
L
n
/ r W ,
—
14
—
i
J
u
T
i I i I I 1 1 1 11 11
I
/r v \ y
—
10
90-DAY CD* S
-
E U R O - D O L L A R DEPOSITS
I
E U R O - D O L L A R DEPOSITS
i
OVERNIGHT
-
18
3-MONTH
I
-
6
22
-
1 1 1 1 1 1 I I 111
T
i i
6
JJ_L
_LL
3
2
-
1
-
4
DIFFERENTIAL
DIFFERENTIAL
2
0
1
-
-
1
2
-
-
2
3
-
-
3
I II l l I l l I l l II l I l l I I I I l
1979
1 PERCENT ON DIFFERENTIAL S C A L E = 2 PERCENT ON RATE S C A L E
1961
1111111111
1979
111111
1961
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
INTERBANK STERLING
20
U. S. COMMERCIAL PAPER
COVERED LONDON
2
4
DIFFERENTIAL
DIFFERENTIAL
2
+
0
2
28
28
INTERBANK DM
COVERED FRANKFURT
SWISS INTERBANK (SF) COVERED
20
20
12
EURO-DOLLAR DEPOSITS
EURO-DOLLAR DEPOSITS
4
2
DIFFERENTIAL
2
DIFFERENTIAL
+
0
2
1979
1981
1 PERCENT ON DIFFERENTIAL S C A L E = 2 PERCENT ON RATE SCALE
1979
1981
CHART 9
LONG-TERM GOVERNMENT BOND YIELDS
WEEKLY SERIES
ENT PER ANNUM
PERCENT PER Al
15
15
CANADA
UNITED STATES
13
13
11
11
9
9
7
7
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
6
14
7
U. S.
12
CORPORATE
13
MONTHLY
MONTHLY
JAPAN
11
Aaa BONDS
10
8
9
7
E U R O - D O L L A R BONDS
6
5
1979
1981
1979
1981
3/19/81
CHART 10
INDUSTRIAL STOCK INDICES
WEEKLY SERIES
RATIO SCALE
1 9 69=100
RATIO SCALE
1969=100
UNITED STATES
FRANCE
GENERAL INDEX
SWITZERLAND
JAPAN
160
140
-
UNITED KINGDOM
-
—
140
-
120
GERMANY
120
r\
100
A
100
-
i
1979
1981
i
i
I I I
1979
MlMlnli,
i l l I ill ill I
1981
80
*
4ERIES
C )ART
L A S T VALUE PLOTTED
DATE
VALUE
NAME
1. S P O T E X C H A N G E B A T E S A N D I N D I C E S
WEEKLY A V E R A G E S ,
NOON BUYING BATES
(U.S.
CENTS)
GERMl N MARK ,
J A p A I E S E YEN;
D U l C i GUILDER
U . K . POUND
CAiNAD^AN DOLLAR
F V E N C j FRANC
S W I S S FRANC
\ E L G I A l FRANC
J T A L I A y LIRA,
INiICES,
MARCH 1 9 7 3
GERMAN MARK
J A P A N E S E YEN
DUTCH G U I L D E R
U . K . POUND
\ CANADIAN DOLXAR
FBENCH FBANC
4 S W I S S FRANC
B E L G I A N FRANC
ITALIAN LIRA
BASE BATES =
47939
4 3 . 51
226. 42
84. 58
20. 4 5
5 2 . 88
2. 9 4 0 4 6
0, 0 9 7 4 8
MARCH
MARCH
MARCH
MARCH
MARCH
MARCH
MARCH
MARCH
MARCH
25
25
25
25
25
25
25
25
25
135.60
125.52
124.92
91.58
84.30
92.14
170.13
115.87
55.38
25
25
25
25
25
25
25
25
25
25
25
95. 16
137. 38
123.,46
121..68
86..92
79.,76
87.39
165..95
112.07
50. 75
93.25
25
25
25
25
25
25
25
25
- 2 ..04
1.84
2..44
2..05
6.,79
4..07
6..37
- 5 ..20
'
1973 =
ii.S.
DOLLAR
/EBMAN MAliK
J A P A N E S E MEN
DUTCH GUILDER
U.K. P O U N |
C A N A D I A N |OLLAR
FRENCH FRANC
SWISS FRAMC
BELGIAN FRANC
ITALIAN XIRA
SWEDISH #RONA
:. 3 - M O N T S F O R W A R D E X C H A N G E R A T E S , P R E M I U M O R
20
25
25
25
25
25
25
25
25
25
0.
100
WEIGHTED A V E R A G E E X C H A N G E VALUE INDICES, MAR
(G-10 C O U N T R I E S P L U S S W I T Z E R L A N D )
CANADIAN DOLLAB
U.K. POUND
GEBMAN MABK
FBENC\ FRANC
SWISS FRANC
DUTCN GUILDER
J A P A N E S E YEN
ITALIAN LIRA
48.
MARCH
MARCH
MARCH
MARCH
MARCH
MARCH
MARCH
MABCH
MARCH
100
MARCH
MARCH
MARCH
MARCH
MARCH
MARCH
MARCH
MARCH
MARCH
MARCH
MARCH
DISCOUNT
MARCH
MARCH
MARCH
MARCH
MARCH
MARCH
MARCH
MARCH
SERIES
L A S I VALUE PLOTTED
DATE
VALUE
NAME
qHARI 3. GOLD PRICE IN LONDON, AFTERNOON FIXING
U.S.
CHART 4 .
DOLLARS PER FINE OUNCE
MARCH 2 5
523.40
CALL MONEY R A T E S
U . S . FEDERAL FUNDS
O V E R N I G H T EURO-DOLLAR D E P O S I T S
U . K . 2 - D A Y LOCAL AUTHORITY D E P O S I T S
CANADA
GERMANY
/URO-DM
JAPAN
F/ANCE
NETHERLANDS
E U I O - S H I S S FRANC
MARCH
MARCH
MARCH
MARCH
MARCH
MARCH
MARCH
MARCH
MARCH
MARCH
25
25
20
20
20
13
20
20
6
13
9.75
7.69
11.63
11.15
4.10
MARCH
MARCH
MARCH
MARCH
MARCH
MARCH
MARCH
25
25
25
25
25
25
25
13.47
12.96
7.50
16.45
12.55
7.57
12.24
MARCH
MARCH
MARCH
MARCH
MARCH
MARCH
25
25
25
25
25
25
13.37
13.45
13.84
14.31
14.38
14.34
OVjERNIGHT EURO-DOLLAR 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 A D J . FOR RESERVE R E Q U I R E M E N T S
MARCH 2 5
MARCH 2 5
MARCH 2 5
1 3 . 37
1 3 . 48
- 0 . 11
3-MONTH EURO-DOLLAR D E P O S I T RATE
U . S . 9 0 - D A Y C D ' S , SECONDARY MARKET
DIFFERENTIAL
MARCH 2 5
MARCH 2 5
MARCH 2 5
14. 31
1 3 . 47
0. 8 4
CHART 5 .
/-MONTH I N T E R E S T
4URO-DOLLAR D E P O S I T R A T E S :
LONDON
OVIRNIGHT
7-AAY
1-jiCNTH
3-jMONTH
6-jBONTH
1-iZEAR
CHART 7 . {SELECTED EURO-DOLLAR AND U . S .
10.00
RATES
U . S . 9 0 - D A Y C D ' S , SECONDARY MARKET
GBR U N INTERBANK LOAN
J A P A N E S E BANK LOANS & D I S C O U N T S
CANADIAN F I N A N C E PAPER
INTERBANK S T E R L I N G
S W I # S INTERBANK LOAN
WEIGHTED AVERAGE F O R E I G N I N T E R E S T RATE
( G - 1 0 COUNTRIES PLUS SWITZERLAND)
CHART 6 .
13.48
13.37
12.13
16.80
MONEY MARKET R A T E S
SERIES
CHART 8 .
L A S T VALUE PLOTTED
DATE
VALUE
NAME
INTEREST ARBITRAGE,
3-MONTH FDNDS
EURO-DOLLAR D E P O S I T
INTERBANK S T E R L I N G ( L O N D O N ) ,
DIFFERENTIAL
U . S . COMMERCIAL P A P E R
CANADIAN. F I N A N C E P A P E R ,
DIFFERENTIAL
COVERED
COVERED
EURO-DOLLAR D E P O S I T
INTERBANK DM ( F R A N K F U R T ) ,
DIFFERENCIAL
COVERED
EURO-DOLiAR DEPOSIT
S W I S S I N T E R B A N K , COVERED
DIFFERENCIAL
CHART 9 .
MARCH 2 5
MARCH 2 5
MARCH 2 5
12, 87
14. 33
- 1 . 46
MARCH 2 5
MARCH 2 5
MARCH 2 5
14. 31
15. 48
- 1 . 17
MARCH 2 5
MARCH 2 5
MARCH 2 5
14. 31
1 4 . 50
- 0 . 18
MARCH
MARCH
FEB.
MARCH
MARCH
FEB.
MARCH
MARCH
20
13
13
20
6
6
20
12.
10.
8.
5.
13.
14.
11.
11.
71
21
79
43
05
71
29
23
CORPORATE
AAA BONDS
EURO-DM BONDS
EURO-DOLLAR BONDS
CHART 1 0 .
1 4 . 31
1 4 . 44
- 0 . 13
LONG TE&M GOVERMENT BOND Y I E L D S
UNITED STATES
GERMANY
JAPAN (MO <THLY)
SWITZERLAND
CANADA
FRANCE
NETHERLANDS
U N I T E D KIN5DOM
U.S.
MARCH 2 5
MARCH 2 5
MARCH 2 5
INDUSTRIAL
UNITED STATES
JAPAN
FRANCE
U N I T E D KINGDOM
SWITZERLAND
GERMANY
13. 35
6 . 63
1 1 . 94
FEB.
DEC.
JAN.
STOCK I N D I C E S
MARCH
MARCH
MARCH
MARCH
MARCH
MARCH
20
20
6
20
20
13
141.
342.
150.
116.
74.
95.
68
45
80
98
09
24
FEDERAL RESERVE statistical release
f**L
H.10(512)
MARCH 3 0 ,
FOREIGN EXCHANGE RATES
FOB THE WEEK ENDING
MARCH 2 7 ,
1981
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
AUSTBALIA
AUSTRIA
BELGIUM
CANADA
DENMARK
FINLAND
FBANCE
GERMANY
INDIA
IRELAND
ITALY
JAPAN
MALAYSIA
MEXICO
NETHERLANDS
NEW ZEALAND
NORWAY
PORTUGAL
SOUTH AFRICA
SPAIN
S B I LANKA
SWEDEN
SWITZERLAND
UNITED KINGDOM
MONETARY
UNIT
MAR. 2 3
MAR. 2 4
DOLLAR
SCHILLING
FBANC
DOLLAB
KRONE
MABKKA
FRANC
D . MABK
RUPEE
POUND
LIRA
YEN
DOLLAR
PESO
GUILDER
DOLLAB
KBONE
ESCUDO
BAND
PESETA
BUPEE
KRONA
FRANC
POUND
117.0200
6.75219
2.91886
84.5523
15.2184
24.7739
20.3293
47.9088
12.0800
174.4000
0.09597
0.47939
43.8404
4.2230
43.2339
92.3500
18.6133
1.7683
126.0500
1.1758
5.5249
21.8603
52.6815
224.9500
117.1000
6.76018
2.92997
84.5309
15.2497
24.8047
20.3707
48.0238
12.1100
175.0000
0.09611
0.47950
43.8596
4.2248
43.3840
92.5300
18.6220
1.7683
126.2500
1.1779
5.5249
21.8770
52.7287
226.5500
(RATE U . S . CENTS
MAR. 2 5
116.9200
6.74764
2.92740
84.5095
.15-2114
24.8016
20.3087
47.9501
12.0900
174.6000
0.09634
0.47881
43.8500
4.2150
43.2807
92.4800
18.6046
1.7724
125.9500
1.1804
5.5249
21.8579
52.5210
226.2500
MAR. 2 6
MAR. 2 7
116.5000
6.69344
2.90023
84.4809
15.0602
24.6305
20.0602
47.3261
12.1100
173.5000
0.09563
0.47293
43.6491
4.2096
42.6894
92.0000
18.4928
1.7683
125.6000
1.1767
5.5249
21.7391
51.8672
224.5000
116.0500
6.63570
2.87687
84.1609
14.9701
24.5339
19.9800
47.0588
12.0340
171.9000
0.09407
0.47214
43.7063
4.2088
42.5441
91.5700
18.3993
1.7422
124.8000
1.1581
5.5249
21.6099
51.6796
222.6000
@FedFRASER