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(516/517) Selected Interest JL Exchange Rates W e e kly Series o f Charts May 19,1980 Prepared by the F IN A N C IA L M A R K E T S S E C T IO N DIVISION O F IN T E R N A T IO N A L F IN A N C E 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 SY S TEM Washington, D .C . 20551 Table o f Contents TABLES SUBSCRIPTION RATES: 1. LATEST FIGURES PLOTTED Weekly $15.00 per year or $.40 each in the United 2. D A IL Y C E R T IF IE D SPOT EXCHANGE RATES-H.10 RELEASE 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 CHARTS 1. SPOT EXCHANGE RATE INDICES 2. 3-M ONTH FORW ARD EXCHANGE RATES 3. GOLD PRICE--LONDON 4. C A LL M O NEY RATES 5. 3-M ONTH INTER EST RATES 6. EURO-DO LLAR DEPOSIT RATES 7. SELECTED EURO-DO LLAR AND U.S. M O NEY M A R K E T RATES 8. INTEREST A R B ITR A G E : 3-M ONTH FUNDS 9. LONG-TERM G O V E R N M E N T BOND Y IE L D S 10. IN D U S T R IA L STOCK INDICES 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. CH A RT 1 SPOT EXCHANGE INDICES DOLLAR PRICES OF FOREIGN CURRENCIES AND WEIGHTED AVERAGE VALUES (THIN LINE) AVERAGES FOR WEEK ENDING WEDNESDAY R A T IO MARCH R A T IO SCALE MARCH 1973=100 SCALE 1973=100 120 100 80 60 160 200 - 160 120 BELGIAN FRANC Ar-x/-^ A , ------ ^ 100 ^ ' 100 - 120 i i i ■ 111 nlnliilii nlnliilii 100 80 - 1978 1980 1978 1980 60 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 as. d U .S . D O L L A R S P E R F IN E C 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 500 500 450 450 400 400 350 350 300 300 250 250 200 200 150 150 100 100 1977 1978 1979 1980 CHART 4 CALL MONEY RATES WEEKLY SERIES 20 20 16 16 12 12 8 8 4 4 16 20 12 16 8 12 S 4 JAPAN 0 12 4 0 12 8 4 6 + 0 4 4 0 1978 1980 CHART 5 3-MONTH INTEREST RATES WEEKLY SERIES 20 20 M 16 16 12 12 8 8 4 4 18 14 14 10 10 6 6 16 2 12 12 8 8 4 4 0 1978 1980 1978 1980 CHART 6 EURO-DOLLAR DEPOSIT RATES Lo n d o n AVERAGES FOR WEEK ENDING WEDNESDAY 20 20 16 16 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 1960 1978 1980 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 1 +O I 1 2 3 4 19 7 8 1 PERCENT ON D IF F E R E N T IA L SCALE = 1980 2 PERCENT ON RATE SCALE CH A RT 8 INTEREST ARBITRAGE: 3-M O N TH FUNDS DIFFERENTIAL: PLUS(+), INDICATES FAVOR DOLLAR ASSETS AVERAGES FOR WEEK ENDING WEDNESDAY :n t per P E R C E N T P E R Ah a n nu m 20 20 16 16 12 EURO-DOLLAR DEPOSITS 12 8 8 INTERBANK STERLING C O V ER ED LO NDO N 4 4 0 4 0 2 2 + 0 + 0 2 2 20 20 16 16 12 12 8 8 4 4 2 2 4 DIFFERENTIAL + 0 + 0 2 2 1978 1980 PE RC ENT ON D IF F E R E N T IA L S C A L E = 2 PERC ENT ON RATE S C A L E 1978 1980 CHART 9 LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES 14 15 12 13 10 11 8 9 8 10 7 8 5 6 3 4 1 7 14 15 12 13 10 11 8 9 6 7 14 13 12 11 10 9 8 7 6 5 1978 1980 1978 1980 CHART 10 INDUSTRIAL STOCK INDICES WEEKLY SERIES R A T IO 1969= 140 120 100 80 R A T IO SCALE 1969=100 400 100 360 90 JAPAN 320 80 280 70 240 60 200 50 140 140 CANADA D IS C O N T IN U E D S E R IE S 120 120 100 100 80 80 lllllllllll 160 160 FRANCE G ENERAL 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 INDICES, MAY MAY MAY MAY MAY MAY MAY MAY NAY 14 14 14 14 14 14 14 14 14 55.68 0.43573 50.50 228.19 84.89 23.78 60.01 3.45621 0.11808 MAY MAY MAY MAY MAY MAY MAY MAY MAY 14 14 14 14 14 14 14 14 14 156.64 114.09 144.96 92.29 84.61 107.17 193.06 136.19 67.08 14 14 14 14 14 14 14 14 14 14 14 87.35 150.60 102.91 132.74 81.38 74.47 95.93 176.34 123.74 58.02 93.96 14 14 14 14 14 14 14 14 -2..21 -5..79 1..40 -1..68 5..12 -0..01 -1..17 -5.,43 MARCH 1973 BASE RATES = 100 GERMAN MARK JAPANESE YEN DUTCH GUILDER U.K. POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC BELG I A N FRANC ITALIAN LIRA WEIG H T E D AVERAGE EXCHANGE VALUE INDICES, (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 MAR 1973 = 100 MAY MAY MAY MAY MAY MAY MAY MAY MAY MAY MAY CHART 2. 3-MONTH FORWARD EXCH A N G E RATES, PREMIUM OR DISCOUNT CANADIAN DOLLAR U.K. POUND GERMAN MARK FRENCH FRANC SWISS FRANC DUTCH GUILDER JAPANESE YEN ITALIAN LIRA MAY MAY MAY MAY MAY MAY MAY MAY SERIES NAME LAST VALUE PLOTTED DATE VALUE CHART 3. GOLD PRICE IN LONDON, AFTERNOON FIXING U.S. DOLLARS PER FIN E OUNCE MAY 14 514.85 CHA RT 4. CALL MONEY RATES U.S. FEDE R A L FUNDS O V ERNIGHT EURO-DOLLAR DEPOSITS U.K. 2-DAY LOCAL AUTHORITY DEPOSITS CANADA GERMANY EURO-DM JAPAN FRANCE NETHERLANDS EURO-SWISS FRANC MAY 14 MAY 14 MAY 9 MAY 9 MAY 9 MAY 9 MAY 9 MAY 9 APRIL 18 MAY 9 10.85 9.31 17.25 15.38 9.80 9.79 12.38 12.75 10.50 5.42 CHART 5. 3-MONTH INTE R E S T RATES U.S. 90-DAY CD'S, SECONDARY MARKET GERMAN INT E R B A N K LOAN JAPA N E S E BANK LOANS 6 DISCOUNTS CANA D I A N FINANCE PAPER INT E R B A N K STERLING SWISS INTERBANK LOAN WEIGHTED AVERAGE FOREIGN I N T E R E S T R ATE (G-10 COUNTRIES PLUS SWITZERLAND) MAY MAY MAY MAY MAY MAY MAY 14 14 14 14 14 14 14 9.81 10.24 13.56 13.60 16.94 5.92 12.75 MAY MAY MAY MAY MAY MAY 14 14 14 14 14 14 9.31 9.85 10.49 11.16 11.26 11.19 OVERNIGHT EURO-DOLLAR DEPOS I T S U.S. FEDERAL FUNDS D I F F ERENTIAL ADJ. FOR RESERVE REQUIREMENTS MAY 14 MAY 14 MAY 14 9.31 10.85 -1.54 3-MO N T H EURO-DOLLAR DEPOSIT RATE U.S. 90-DAY CD'S, SECONDARY MARKET DIFFERENTIAL MAY 14 MAY 14 MAY 14 11.16 9.81 1.35 CHA RT 6. E U R O - D O L L A R DEPOSIT RATES: LONDON OVERNIGHT 7-DAY 1-MONTH 3-MONTH 6-MONTH 1-YEAR CHART 7. S ELECTED EURO-DOLLAR AND U.S. MONEY MARKET RATES LAST VALUE PLOTTED D ATE V ALUE SERIES NAME CHART . INTEREST ARBITRAGE, 3-MONTH FUNDS EURO-DOLLAR DEPOSIT INT E R B A N K STERLING (LONDON) , COVERED DIFFERENTIAL MAY 14 MAY 14 MAY 14 11.16 10.90 0.26 U.S. COMMERCIAL PAPER C ANADIAN FINANCE PAPER, DIFFERENTIAL MAY 14 MAY 14 MAY 14 9.41 11.31 -1.90 EURO-DOLLAR DEPOSIT INTERBANK DM (FRANKFURT) , COVERED DIFFERENTIAL MAY 14 MAY 14 MAY 14 11.16 11.67 -0.51 EURO-DOLLAR DEPOSIT SWISS INTERBANK, COVERED DIFFERENTIAL MAY 14 MAY 14 MAY 14 11.16 11.12 0.05 COVERED CHART 9. LONG TERM GOVERMENT BOND YIELDS UNITED STATES GERMANY JAPAN (MONTHLY) SWITZERLAND CANADA FRANCE NETHERLANDS UNITED KINGDOM MAY APRIL APRIL APRIL HAY MARCH APRIL APRIL 9 25 18 9 7 18 25 10.08 9.06 10.30 5.07 11.41 14.30 10.06 11.68 U S. C O R P ORATE AAA BONDS EURO-DM BONDS EURO-DOLLAR BONDS C H A RT 10. 12.04 6.63 11.61 APRIL DEC. MARCH INDUSTRIAL STOCK INDICES UNITED STATES JAPAN CANADA FRANCE UNITED KINGDOM SWITZERLAND GERMANY MAY 9 MAY 9 DEC. 29 APRIL 25 MAY 9 9 MAY T MAY 4 -t 110.80 310.80 113.81 141.30 104.67 72.34 92.06
@FedFRASER