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(516/517) __2liZL. MAY 21 198) FEDERAL REUE,WE BANK OF BOSTON Selected Inte Exchange Rates Weekly Series of Charts May 11,1981 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 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 — 100 A Y1"- 80 U.K. POUND — yvV ,-J — — 100 T s FOREIGN CURRENCY PRICE OF U.S. DOLLAR 80 • " d ' X r I I I I I I „l n lull" FRENCH FRANC 120 K GERMAN MARK " I I I I I 60 100 , 11111,, I ,T I 80 JAPANESE YEN SWISS FRANC — — 160 — 140 - 120 BELGIAN FRANC — A \ DUTCH GUILDER " i l l I I - I 100 60 100 — 80 ITALIAN LIRA - . II 100 — ' 80 60 CANADIAN DOLLAR 11 40 1979 I 1981 I I I I 1979 I I ill I lull Iill 11 hili i 1981 40 CHART 2 3-MONTH FORWARD EXCHANGE RATES PREMIUM (+) OR (-) AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER Ah :ent p e r annum 6 24 CANADIAN DOLLAR ITALIAN LIRA - + 0 V I I I II I 6 - • V 0 24 6 12 DUTCH GUILDER U. K. POUND + 0 6 6 0 > 12 6 18 12 GERMAN MARK SWISS FRANC - 4/ I A - y 6 12 6 + 0 - I I I I I 0 I 12 12 FRENCH FRANC JAPANESE YEN 6 6 + 0 + 0 6 6 1979 1981 1979 1981 CHART 3 PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY U.S. D< -LARS PER FINE OUNCE U.S. DOLLARS PER FINE ( 800 800 750 750 700 700 650 650 600 600 550 550 500 500 12.5 Kg BARS AFTERNOON FIXING PRICE 450 450 400 400 350 350 300 300 250 250 200 200 150 150 I I I I I I I I I 100 1978 1979 1980 I I I I I I I I 1981 100 CHART 4 CALL MONEY RATES WEEKLY SERIES PERCENT PER 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 PER ANNUM PERCENT PER 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 0 6 16 12 JAPANESE BANK LOANS AND DISCOUNTS SWISS INTERBANK RATE 8 12 8 4 0 4 1979 1981 1979 1981 CHART 6 EURO-DOLLAR DEPOSIT RATES LONDON AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER M 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-MONTH 20 1-YEAR 20 16 16 12 12 8 8 4 4 1979 1981 1979 1981 « ' , / CHART 7 EURO-DOLLAR AND U. S. MONEY MARKET RATES l/:V - v i '/,> > < ' DIFFERENTIAL: PLUS(+), FAVORS BORROWING IN U. S. AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER ANNUM PERCENT PER ANNUM 26 26 22 - 18 - FEDERAL FUNDS — A - - - V J — - tyll EURO-DOLLAR DEPOSITS - \ | J ju OVERNIGHT | - T I I I 11 DAY CD - 10 - 2 - 2 - 3 - E U R O - D O L L A R DEPOSITS 11 11 I l I I I I I l DIFFERENTIAL 1979 1 PERCENT ON D I F F E R E N T I A L S C A L E = 2 PERCENT ON RATE S C A L E 18 3-MONTH 14 I - 6 \ \ If (ft II\ A 14 10 22 - I I I DIFFERENTIAL 1981 1979 1981 CHART 8 INTEREST ARBITRAGE: 3-MONTH FUNDS DIFFERENTIAL: PLUSW, 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 12 INTERBANK STERLING U. S. COMMERCIAL PAPER COVERED LONDON DIFFERENTIAL DIFFERENTIAL — Y~ • W V ^ I I I - y x iV : INTERBANK DM COVERED FRANKFURT SWISS INTERBANK (SF) COVERED EURO-DOLLAR DEPOSITS DIFFERENTIAL ^A/VVI—^ I I I ! 1979 1 | IIIIIIIIIII EURO-DOLLAR DEPOSITS DIFFERENTIAL A YV. I - 1981 1 PERCENT ON DIFFERENTIAL SCALE = 2 PERCENT ON RATE SCALE 1979 1981 CHART 9 LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES ENT PER ANNUM PERCENT PER Ah 15 15 CAN ADA 13 UNITED STATES - r - 13 11 11 9 9 l l l l 111 7 ~l I i !I I III I I I I I 7 12 9 10 7 SWITZERLAND 8 5 I GERMANY i - ! 3 6 I 4 i i I i I I I I I i i i i i I ! 16 1 17 FRANCE 14 15 UNITED KINGDOM 12 13 10 11 8 9 NETHERLANDS 6 14 7 U. S. CORPORATE 12 MONTHLY Aaa B O N D S 1 13 MONTHLY JAPAN 11 ^ 10 8 9 7 E U R O - D O L L A R BONDS 6 5 1979 1981 1979 1981 CHART 10 INDUSTRIAL STOCK INDICES WEEKLY SERIES RATIO SQALE 1969=100 RATIO SCALE 1969=100 180 160 - UNITED STATES 140 120 FRANCE GENERAL INDEX - 100 80 — —I100 — — 90 SWITZERLAND JAPAN A f f V \ A V A 80 v V 70 - - II I 1 1 , 1 1 1 1 1 , 1 1 1 50 160 — UNITED KINGDOM - 60 — 140 GERMANY - pIV / w ~120 - - 100 , 1 1 1 1 1 1 1 1 I I II L I i iIi l li n i l i 80 1 1979 1981 1979 1981 L A S T V A L U E PLOTTED DATE VALUE SERIES NAME CHART 1. SPOT E X C H A N G E R A T E S AND I N D I C E S W E E K L Y A V E R A G E S , N O O N BUYING R A T E S (U.S. CENTS) G E R M A N MARK J A P A N E S E YEN DUTCH G U I L D E R U.K. POUND C A N A D I A N DOLLAR FRENCH FRANC SWISS F R A N C BELGIAN FRANC I T A L I A N LIRA INDICES, MARCH MAY MAY MAY MAY MAY MAY MAY MAY MAY 6 6 6 6 6 6 6 6 6 44.,72 0.,46155 40.,25 212.,62 83.,40 18.,81 48.,94 2.,74511 0.,08992 MAY MAY MAY MAY MAY MAY MAY MAY MAY 6 6 6 6 6 6 6 6 6 125.80 120.85 115.55 86.00 83.13 84.75 157.44 108.17 51.08 6 6 6 6 6 6 6 6 6 6 6 101. 41 133. 34 125. 15 118. 09 85. 69 82. 92 84. 18 161. 33 109. 88 49. 10 92. 94 6 6 6 6 6 6 6 6 -0.37 6.02 5.52 1.77 9.09 3.82 10.93 -1.24 1973 B A S E RATES = 100 G E R M A N 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 SWISS F R A N C BELGIAN FRANC I T A L I A N LIRA W E I G H T E D A V E R A G E E X C H A N G E V A L U E I N D I C E S , MAR (G-10 C O U N T R I E S PLUS S W I T Z E R L A N D ) U . S . DOLLAR G E R M A N MARK J A P A N E S E YEN DUTCH GUILDER U.K. POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC BELGIAN F R A N C I T A L I A N LIRA S W E D I S H KRONA 1973 = 100 MAY MAY MAY MAY MAY MAY MAY MAY MAY MAY MAY C H A R T 2. 3 - M O N T H F O R W A R D E X C H A N G E R A T E S , PREMIUM OR D I S C O U N T CANADIAN DOLLAR U.K. P O U N D G E R M A N MARK FRENCH F R A N C SWISS F R A N C DUTCH GUILDER J A P A N E S E YEN I T A L I A N LIRA MAY MAY MAY MAY MAY MAY MAY MAY LAST VALUE PLOTTED DATE VALUE SERIES NAME CHART 3. G O L D P R I C E IN LONDON, A F T E R N O O N FIXING U . S . D O L L A R S PER FINE O U N C E SAY 6 482.12 6 MAY 6 MAY 1 MAY 1 MAY 1 MAY A P R I L 10 MAY 1 1 MAY 3 APRIL A P R I L 10 18.,91 19..25 12.,00 17.,00 11.,00 11.,45 7.,06 12.,25 9..05 6. 73 MAY MAY MAY MAY MAY MAY MAY 6 6 6 6 6 6 6 17. 44 12. 96 7. 25 18. 15 12. 50 9. 56 12. 71 MAY MAY MAY MAY MAY MAY 6 6 6 6 6 6 19. 25 18. 42 18. 48 18. 39 18. 24 17. 46 OVERNIGHT EURO-DOLLAR DEPOSITS U.S. F E D E R A L FUNDS D I F F E R E N T I A L ADJ. FOR R E S E R V E R E Q U I R E M E N T S MAY MAY MAY 6 6 6 19. 25 18. 91 34 3-MONTH EURO-DOLLAR DEPOSIT RATE U . S . 90-DAY C D ' S , SECONDARY M A R K E T DIFFERENTIAL MAY MAY MAY 6 6 6 18. 39 17. 44 95 CHART 4. CALL MONEY R A T E S U.S. F E D E R A L F U N D S OVERNIGHT EURO-DOLLAR DEPOSITS U . K . 2 - D A Y L O C A L AUTHORITY D E P O S I T S CANADA GERMANY EURO-DM JAPAN FRANCE NETHERLANDS EURO-SWISS FRANC CHART 5. 3 - M O N T H I N T E R E S T R A T E S U.S. 9 0 - D A Y C D ' S , SECONDARY M A R K E T G E R M A N I N T E R B A N K LOAN J A P A N E S E BANK L O A N S S D I S C O U N T S C A N A D I A N F I N A N C E PAPER I N T E R B A N K STERLING SWISS I N T E R B A N K L O A N W E I G H T E D A V E R A G E FOREIGN INTEREST R A T E (G-10 C O U N T R I E S PLUS S W I T Z E R L A N D ) CHART 6. E U R O - D O L L A B D E P O S I T R A T E S : L O N D O N OVERNIGHT 7-DAY 1-MONTH 3-MONTH 6-MONTH 1-YEAR CHART 7. SELECTED E U R O - D O L L A R AND U.S. MONEY M A R K E T R A T E S 0. 0. SERIES N A M E L A S T V A L U E PLOTTED DATE VALUE CHART 8. INTEREST A R B I T R A G E , 3-MONTH F U N D S EURO-DOLLAR DEPOSIT INTERBANK STERLING (LONDON), C O V E R E D DIFFERENTIAL MAY MAY MAY 6 6 6 18.39 18.70 -0.32 U.S. C O M M E R C I A L PAPER CANADIAN FINANCE PAPER, COVERED DIFFERENTIAL MAY MAY MAY 6 6 6 16.84 17.77 -0.67 EURO-DOLLAR DEPOSIT I N T E R B A N K DM (FRANKFURT), C O V E R E D DIFFERENTIAL MAY MAY MAY 6 6 6 18.39 18.66 -0.27 EURO-DOLLAR DEPOSIT SWISS I N T E R B A N K , C O V E R E D DIFFERENTIAL MAY MAY MAY 6 6 6 18.39 18.87 -0.48 CHART 9. LONG TERM G O V E R M E N T BOND YIELDS UNITED STATES GERMANY J A P A N (MONTHLY) SWITZERLAND CANADA FRANCE NETHERLANDS UNITED KINGDOM 1 MAY A P R I L 24 ' APRIL APRIL 17 1 MAY M A R C H 13 3 APRIL A P R I L 17 14.01 10.23 7.90 5. 44 15.07 15. 09 10.66 11.44 MARCH DEC. FEB. 13.33 6.63 12.17 U.S. C O R P O R A T E AAA B O N D S EURO-DM BONDS EURO-DOLLAR BONDS CHART 10. I N D U S T R I A L STOCK INDICES U N I T E D STATES JAPAN FRANCE UNITED KINGDOM SWITZERLAND GERMANY APRIL 17 APRIL 10 3 APRIL A P R I L 10 APRIL 10 APRIL 24 142.37 360.36 148.80 128.49 75.59 99.51 FEDERAL RESERVE statistical release H. 10 (512) :$( MAY FOREIGN EXCHANGE RATES MAY FOE THE WEEK ENDING 8, 12, 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 AUSTRALIA AUSTRIA BELGIUM CANADA DENMARK FINLAND FRANCE GERMANY INDIA IRELAND ITALY JAPAN MALAYSIA MEXICO NETHERLANDS NEW Z E A L A N D NORWAY PORTUGAL SOUTH AFRICA SPAIN SBI LANKA SWEDEN SWITZERLAND UNITED KINGDOM MONETARY UNIT 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 MAY 4 114.5100 6.31313 2.73523 83.2778 14.1343 23.5849 18.6672 44.5514 11.9400 163.0000 0.08969 0.46062 42.9000 4.1580 40.0480 89.0000 17.8380 1.6835 121.2200 1.1101 5.4437 20.6911 48.7567 211.8000 MAY 5 [RATE U.S. CENTS! MAY 6 114.2000 6.23247 2.70563 83.1532 14.0056 23.4028 18.5322 44.1306 11.9400 161.2000 0.08857 0.45914 42.7168 4.1597 39.6825 88.7800 17.7778 1.6584 120.5300 1.0971 5.4437 20.5761 48.3676 211.3500 114.2800 • 6.29525 2.71444 83.4029 1^.0805 23.4962 18.7073 44.2870 12.0048 162.0000 0,08885 0.46104 42.9461 4.1658 40.0160 88.8500 17.9436 1.6667 120.8800 1.1101 5.4437 20.6718 48.5319 211.6800 MAY 7 114.1000 6.21504 2.69760 83.3820 \ 13.9626 * 23.3973 18.6081 43.9657 11.9904 160.7500 0.08838 0.45893 42.7991 4.1615 39.6040 88.6500 17.8094 1.6584 120.4200 1.1046 5.4437 20.5550 48.1812 210.3500 MAY 8 1 14.3500 6.28931 2.72480 83.3577 14.0696 23.3618 18.7266 44.3459 12.0048 162.4000 0.08889 0.45956 43.0849 4.1580 39.9122 88.8800 17.7999 1.6667 120.3000 1.1111 5.4437 20.6271 48.6855 211.5500
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