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Selected Interest &
Exchange Rates
Weekly Series of Charts
March 9 , 1 9 8 1
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 F I G U R E S 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. D A I L Y C E R T I F I E D SPOT
E X C H A N G E RATES-H.10 RELEASE
CHARTS
1. SPOT E X C H A N G E R A T E INDICES
2. 3-MONTH F O R W A R D E X C H A N G E R A T E S
3. G O L D P R I C E - L O N D O N
4. C A L L MONEY R A T E S
5. 3-MONTH I N T E R E S T R A T E S
6. E U R O - D O L L A R DEPOSIT R A T E S
7. S E L E C T E D E U R O - D O L L A R A N D
U.S. M O N E Y M A R K E T R A T E S
8. I N T E R E S T A R B I T R A G E : 3-MONTH F U N D S
I
9. LONG-TERM G O V E R N M E N T B O N D Y I E L D S
10. I N D U S T R I A L STOCK INDICES
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
MARCH 1 9 7 3 = 1 0 0
RATIO S C A L E
MARCH 1 9 7 3 = 1 0 0
120
100
80
120
-
CANADIAN DOLLAR
N
—
100
80
—
FOREIGN CURRENCY
PRICE OF U.S. DOLLAR
i
-
~
, ,
60
FRENCH FRANC
-
120
-
100
GERMAN MARK
160
140
a A
-
-
V
120
—
100
-
80
JAPANESE YEN
/
—
A
>A
SWISS FRANC
-
I
I
I
I
160
—
140
-
I
x :
~
I
—
BELGIAN FRANC
A
120
160
140
/ V .
1 :
120
120
DUTCH GUILDER
100
160
100
i
i
i
100
U.K. POUND
1
I
i
1979
1981
80
ITALIAN LIRA
-
i
60
i
1979
1981
CHART 2
3-MONTH FORWARD EXCHANGE RATES
PREMIUM (+) OR ( - )
AVERAGES FOR WEEK ENDING WEDNESDAY
PERCENT PER ANNUM
PERCENT PER ANNUM
6
24
CANADIAN DOLLAR
A
AJ
.
Zl
A
w
' ITALIAN LIRA
-
v
-
'
MI
I
I
I
I
l
l
I
I
'
11111111111
I
24
12
U. K. POUND
DUTCH GUILDER
1
vV^V
I .
12
-
i
i
i
1 1 1
11111111
-
6
6
lllllllllll
18
GERMAN MARK
SWISS FRANC
-
1
A
A /
-
12
-
1
1
1
1
1
1
12
FRENCH FRANC
\
JAPANE SE YEN
1
J \
-
— / v\
—
1
1979
1981
1
1
1
1
1979
1
1981
CHART 3
PRICE OF GOLD IN LONDON
AVERAGES FOR WEEK ENDING WEDNESDAY
U.S. c
U.S. D O L L A R S PER F I N E ' UNCE
L L A R S PER F I N E O U N C E
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 F I X I N G PRICE
450
450
400
400
350
350
300
300
250
250
200
200
150
150
100
1978
1979
I I I I I I I I I I I
I I I
1980
1981
100
CHART 4
CALL MONEY RATES
WEEKLY SERIES
PERCENT PER AT
: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
0
1979
1981
1979
1981
CHART 5
3-MONTH INTEREST RATES
WEEKLY SERIES
:NT PER ANNUM
PERCENT PER M
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
LOANS AND DISCOUNTS
JAPANESE BANK
SWISS INTERBANK RATE
12
8
8
4
Na/iV.
4
1979
1981
0
1979
1981
CHART 6
EURO-DOLLAR DEPOSIT RATES
LONDON
AVERAGES FOR WEEK ENDING WEDNESDAY
PERCENT PER AN
ENT PER ANNUM
24
24
20
3-MONTH
OVERNIGHT
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-YEAR
1-MONTH
20
20
-
16
16
-
12
12
8
8
I
4
1979
1981
I
I
4
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 P E R
:NT PER A N N U M
Ah
26
26
22
22
FEDERAL FUNDS
18
18
3-MONTH
EURO-DOLLAR DEPOSITS
14
14
10
10
OVERNIGHT
EURO-DOLLAR DEPOSITS
6
6
3
3
2
DIFFERENTIAL
2
DIFFERENTIAL
1
1
+
0
0
1
1
2
2
3
3
111 M 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1
4
1979
1 PERCENT ON DIFFERENTIAL SCALE = 2 PERCENT ON RATE SCALE
1981
11111111111 i 11111111111
1979
1981
4
CHART 8
INTEREST ARBITRAGE: 3-MONTH FUNDS
DIFFERENTIAL: PLUS(+), INDICATES FAVOR DOLLAR ASSETS
AVERAGES FOR WEEK ENDING WEDNESDAY
PERCENT PER A N N U M
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 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
J
UNITED STATES
13
-
13
—
11
11
9
-
I
7
I
I
I
I
I
9
7
10
7
8
SWITZERLAND
-
Jl
r
-
5
GERMANY
6
3
I
4
I
I
I
I
I
1
16
17
FRANCE
14
15
UNITED KINGDOM
12
13
10
11
8
9
NETHERLANDS
6
14
7
U. S. CORPORATE
12
13
MONTHLY
MONTHLY
JAPAN
11
Aaa BONDS
10
8
9
7
EURO-DOLLAR BONDS
6
5
1979
1981
1979
1981
CHART 1 0
INDUSTRIAL STOCK INDICES
WEEKLY SERIES
RATIO
1969=
CALE
RATIO :
DO
196
180
160
140
-
-
UNITED STATES
120
-
GERMANY
AVv
Az^v.
A
100
x
80
I
I
~
I
400
360
SWITZERLAND
JAPAN
320
280
240
200
200
180
160
UNITED KINGDOM
140
120
FRANCE
GENERAL INDEX
100
80
1979
1981
1979
1981
SERIES
CHART
1.
SPOT
L A S T VALUE PLOTTED
DATE
VALUE
NAME
EXCHANGE RATES AND I N D I C E S
WEEKLY A V E R A G E S ,
NOON BUYING RATES
(U.S.
CENTS)
GERMAN MARK
J A P A N E S E YEN
DUTCH G U I L D E R
U . K . POUND
CANADIAN DOLLAR
FRENCH FRANC
S W I S S FRANC
B E L G I A N FRANC
ITALIAN LIRA
INDICES,
MARCH 1 9 7 3
BASE RATES =
WEIGHTED AVERAGE EXCHANGE VALUE I N D I C E S ,
( G - 1 0 C O U N T R I E S P L U S SWITZERLAND)
MAR
1973
U . S . DOLLAR
GERMAN MARK
J A P A N E S E YEN
DUTCH G U I L D E R
U . K . POUND
CANADIAN DOLLAR
FRENCH FRANC
S W I S S FRANC
B E L G I A N FRANC
ITALIAN LIRA
S W E D I S H KRONA
3 - M O N T H FORWARD EXCHANGE R A T E S ,
CANADIAN DOLLAR
U . K . POUND
GERMAN MARK
FRENCH FRANC
S W I S S FRANC
DUTCH G U I L D E R
J A P A N E S E YEN
ITALIAN LIRA
4
4
4
4
4
4
4
4
4
46.78
0.47807
42.33
220.28
83.18
19.88
50.97
2.85519
0.09693
MARCH
MARCH
MARCH
MARCH
MARCH
MARCH
MARCH
MARCH
MARCH
4
4
4
4
4
4
4
4
4
131.59
125.17
121.53
89.10
32.91
89.59
163.96
112.51
55.06
4
4
4
4
4
4
4
4
4
4
4
97.26
135.29
125.49
120.35
85.94
79.81
86.35
162.63
110.64
51.39
92.94
4
4
4
4
4
4
4
4
-0.29
4.23
2.68
2.86
7.69
5.45
8.37
-1.49
100
GERMAN MARK
J A P A N E S E YEN
DUTCH G U I L D E R
U . K . POUND
CANADIAN DOLLAR
FRENCH FRANC
S W I S S FRANC
B E L G I A N FRANC
ITALIAN LIRA
CHART
MARCH
MARCH
MARCH
MARCH
MARCH
MARCH
MARCH
MARCH
MARCH
=
100
MARCH
MARCH
MARCH
MARCH
MARCH
MARCH
MARCH
MARCH
MARCH
MARCH
MARCH
PREMIUM OR
DISCOUNT
MARCH
MARCH
MARCH
MARCH
MARCH
MARCH
MARCH
MARCH
SERIES
CHART 3 .
GOLD P R I C E
U.S.
CHART 4 .
IN
DOLLARS PER
L A S T VALUE PLOTTED
DATE
VALUE
NAME
LONDON,
AF'iERNOON F I X I N G
F I N E OUNCE
EURO-DOLLAR
DEPOSIT
RATES:
MARCH
MARCH
FEB.
FEB.
FEB.
FEB.
FEB.
FEB.
FEB.
FEB.
4
4
27
13
27
13
27
27
20
13
15. 73
1 5 ., 2 6
1 6 ., 5 0
16.70
1 5 ,,00
8. 74
8 .,63
12.00
9.00
3 .,95
MARCH
MARCH
MARCH
MARCH
MARCH
MARCH
MARCH
4
4
4
4
4
4
4
15.59
13.91
8.38
17.09
12.60
9.10
12.91
MARCH
MARCH
MARCH
MARCH
MARCH
MARCH
4
4
4
4
4
4
15.26
15.60
16.19
16.74
16.79
1 6 . 10
LONDON
OVERNIGHT
7-DAY
1-MONTH
3-MONTH
6-MONTH
1-YEAR
.
476.50
3 - M O N T H I N T E R E S T RATES
U . S . 9 0 - D A Y C D ' S , SECONDARY MARKET
GERMAN INTERBANK LOAN
J A P A N E S E BANK LOANS 6 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 S INTERBANK LOAN
WEIGHTED AVERAGE FOREIGN I N T E R E S T RATE
t G - 1 0 COUNTRIES PLUS SWITZERLAND)
CHART 6 .
4
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
EURO-DM
JAPAN
FRANCE
NETHERLANDS
E U R O - S W I S S FRANC
CHART 5 .
MARCH
SELECTED
EURO-DOLLAR
AND U . S .
MONEY MARKET RATES
O V E R N I G H T EURO-DOLLAR D E P O S I T S
U . S . FEDERAL FUNDS
D I F F E R E N T I A L A D J . FOR RESERVE REQUIREMENTS
MARCH
MARCH
MARCH
4
4
4
15.26
15. 73
-0.47
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
MARCH
MARCH
4
4
4
16.74
15.59
1.15
SERIES
CHART 8 .
INTEREST
L A S T VALUE P L O T T E D
DATE
VALUE
NAME
ARBITRAGE,
3-MONTH FUNDS
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 ) ,
DIFFERENTIAL
COVERED
EURO-DOLLAR D E P O S I T
S i l S S I N T E R B A N K , COVERED
DIFFERENTIAL
CHART 9 .
10.
16.74
16.96
-0.23
MARCH
MARCH
MARCH
4
4
4
15.09
16.79
-1.70
MARCH
MARCH
MARCH
4
4
4
16.74
16.69
0.05
MARCH
MARCH
MARCH
4
4
4
16.74
16.96
-0.23
FEB.
FEB.
JAN.
FEB.
FEB.
NOV.
FEB.
FEB.
27
20
13.32
10.20
8.81
4.99
13.38
14.24
10.68
11.62
20
13
28
20
27
CORPORATE
AAA BONDS
EURO-DM BONDS
EURO-DOLLAR BONDS
CHART
4
4
4
LONG TERM GO VARMENT BOND Y I E L D S
UNITED STATES
GERMANY
J A P A N (MONTHLY)
SWITZERLAND
CANADA
FRANCE
NETHERLANDS
U N I T E D KINGDOM
I.
MARCH
MARCH
MARCH
INDUSTRIAL
UNITED STATES
JAPAN
FRANCE
U N I T E D KINGDOM
SWITZERLAND
GERMANY
JAN.
DEC.
DEC.
12.81
6.63
11.76
STOCK I N D I C E S
FEB.
FEB,
FEB.
FEB.
FEB.
FEB.
27
27
6
27
27
20
139.34
334.29
1 4 6 .. 2 0
1 1 9 .. 5 8
7 3 . 19
9 4 .,61
FEDERAL RESERVE statistical release
H. 1 0 ( 5 1 2 )
MARCH
FOREIGN EXCHANGE RATES
FOR THE WEEK ENDING
MARCH
6,
10,
1991
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
NOBWAY
PORTUGAL
SOUTH AFRICA
SPAIN
S R I LANKA
SWEDEN
SWITZERLAND
U N I T E D KINGDOM
MONETARY
UNIT
MAR.
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
115.1500
6.56168
2.83849
83.0841
14.8500
24.2542
19.7219
46.4684
12.0000
169.9000
0.09643
0.47371
43.1779
4.2427
42.0610
91.4500
18.2732
1.7391
126.5500
1.1414
5.5710
21.3995
50.4414
218.0500
2
MAR.
3
{RATE U . S .
MAR.
115.1200
6.51466
2.82486
83.0979
14.7406
24.1692
19.7922
46.4576
12.1200
169.8000
0.09589
0.47939
43.2339
4.2373
42.0610
91.4500
18.2582
1.7271
127.3000
1.1319
5.5710
21.3675
50.7357
220.5000
CENTS]
4
115.6200
6.66222
2.85714
83.1256
14.9701
24.5549
19.8807
46.7727
12.2100
171.2000
0.09709
0.47939
43.4310
4.2373
42.3370
91.8200
18.4587
1.7590
127.3500
1. 1581
5.5991
21.5750
51.3479
219.8000
MAR.
5
115.5200
6.58328
2.85714
83.2640
14.8810
24.4678
19.8728
46.7618
12.1500
171.1000
0.09699
0.47870
43.3840
4.2409
42.2833
91.4500
18.3570
1.7528
127.1500
1.1468
5.5991
21.5100
51.4139
220.4000
MAR.
6
115.5000
6.58328
2.85714
83.3612
14.9254
24.2895
19.9044
46.8165
12.1500
171.0000
0.09681
0.47847
43.4877
4.2265
42.3370
91.3500
18.3284
1.7473
126.3500
1.1442
5.5991
21.4592
51.0856
219.2500
@FedFRASER