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(516/517) Selected Interest Exchange Rates W e e kly Series o f Charts May 27, 1980 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 MARKETS SECTION BOARD OF GOVERNORS FEDERAL RESERVE SYSTEM Washington, D.C. 20551 Table o f Contents TABLES SUBSCRIPTION RATES: 1. LATEST FIG URES 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 States, its possessions, Canada, and Mexico; 10 or EXCHANGE RATES-- more of the same issue to one address, $13.50 per H.10 RELEASE year or $.35 each. Elsewhere, $20.00 per year or $.50 each. Address requests to Publications Services, Divi 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 IN TER E ST RATES 6. EURO-DO LLAR DEPOSIT RATES 7. SELECTED EURO-DO LLAR A ND 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 LD S 10. IN D U S T R IA L STOCK INDICES 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 M ARCH R A T IO SCALE M ARCH 1973=100 SCALE 1973=100 120 100 80 60 - 120 100 80 240 200 H 160 120 160 140 120 100 H 100 100 80 60 1978 1980 1978 1980 CHART 2 3-M ONTH FORWARD EXCHANGE RATES PREMIUM (+) OR ( - ) AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER ANNUM PERCENT PER ANNUM + 0 24 1978 1980 1978 1980 CHART 3 PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY U .S . D O L L A R S P E R F IN E U.S. 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 IIIII 100 1977 1978 1979 IllI 100 1980 CHART 4 CALL MONEY RATES WEEKLY SERIES 20 20 16 16 12 12 8 8 4 4 16 20 12 16 12 8 8 4 JAPAN 0 12 4 8 0 12 4 8 + 0 4 4 0 1978 1980 1978 1980 CHART 5 3-MONTH INTEREST RATES WEEKLY SERIES 20 20 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 CH ART 6 EURO-DOLLAR DEPOSIT RATES Lo n d o n AVERAGES FOR WEEK ENDING WEDNESDAY P ERCEN T PER Al ENT PER ANNUM 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 1980 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 PERC EN T PER ANNUM PERCENT PER ANNUM ♦O I 1 PERCENT ON D IF F E R E N T IA L SCALE = 2 P ER C E N T ON RATE S C A LE CHART 8 INTEREST ARBITRAGE: 3-M O NTH FUNDS DIFFERENTIAL: PLUSC+), INDICATES FAVOR DOLLAR ASSETS AVERAGES FOR WEEK ENDING WEDNESDAY 20 20 16 16 12 12 8 8 4 4 0 0 4 2 2 + 0 + 0 2 2 4 20 20 16 16 12 12 8 8 4 4 2 2 DIFFERENTIAL + 0 + 0 2 2 1978 1980 PERCENT ON DIFFERENTIAL SCALE = 2 PERCENT ON RATE SCALE 1978 1980 CHART 9 LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES PERCENT PER ENT PER ANNUM 14 15 12 13 10 11 8 9 8 7 10 7 8 5 6 3 4 1 14 15 12 13 10 11 8 9 6 7 14 U. S. CORPORATE 13 m o n th ly 12 11 10 9 8 7 6 5 1978 1980 CHART 10 INDUSTRIAL STOCK INDICES WEEKLY SERIES R A T IO SCALE 1969= 00 140 ~~ UNITED STATES 120 ; \ 100 j A , 80 - J — l— L I I l iiliiln lii R A T IO 11111111111 SCALE 1969=100 100 400 - 360 90 JAPAN 320 80 280 70 240 60 200 .... J . __ i___ I___ l ! I 11111111111 11111111111 50 140 140 CANADA D IS C O N T IN U E D S E R IE S 120 120 100 - - 80 100 #0 160 160 140 140 120 120 100 H 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 RATI5S (U.S. CENTS) GERMAN MARK JAPANESE YEN DUTCH GUILDER U.K. POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC BELGIAN FRANC ITALIAN LIRA MAY MAY MAY MAY MAY MAY MAY MAY MAY 21 21 21 21 21 21 21 21 21 55.69 0.43957 50.65 229.79 85.31 23.87 59.85 3.46768 0.11830 MAY MAY MAY MAY MAY MAY MAY MAY MAY 21 21 21 21 21 21 21 21 21 156.65 115.09 145.42 92.94 85.03 107.55 192.55 136.64 67.20 21 21 21 21 21 21 21 21 21 21 21 87.04 150.12 103.57 132.80 81.76 74.64 96.02 175.37 123.82 57.96 93.76 21 21 21 21 21 21 21 21 -1.59 -6.01 1.36 -1.81 4.99 -0.11 -1.74 -5.98 INDICES, MARCH 1973 BASE RATES = 100 GERMAN MARK JAPANESE YEN DUTCH GUILDER U.K. POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC BELGIAN FRANC ITALIAN LIRA WEIGHTED 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 HAY MAY MAY MAY MAY MAY MAY 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 ITALIAN LIRA MAY MAY MAY MAY MAY MAY MAY MAY LAST VALUE PLOTTED DATE VALUE SERIES NAME CHA RT 3. GOLD PRICE IN LONDON, A F T E R N O O N FIXING U.S. DOLLARS PER FINE OUNCE MAY 21 513.70 C H A R T 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 MAY MAY MAY MAY MAY MAY MAY MAY MAY MAY 21 21 16 9 16 16 16 16 2 16 10.71 9.34 16.75 15.38 9.70 9.88 12.56 12.69 10.65 3.00 MAY MAY MAY MAY MAY MAY MAY 21 21 21 21 21 21 21 9.72 10.07 13.64 13.11 16.94 6.09 12.70 MAY MAY MAY MAY MAY MAY 21 21 21 21 21 21 9.34 9.40 10.26 11.09 11.14 11.01 OVERNIGHT EURO-DOLLAR DEPOSITS U.S. FEDERAL FUNDS DIFFERENTIAL ADJ. FOR R E SERVE REQUIREMENTS MAY 21 MAY 21 MAY 21 9.34 10.71 -1.37 3-MCNTH EURO-DOLLAR DEPOSIT RATE U.S. 90-DAY CD'S, SECONDARY MARKET DIFFERENTIAL MAY 21 MAY 21 MAY 21 11.09 9.72 1.37 CHART 5. 3-M O N T H INTEREST RATES U.S. 90-DAY CD'S, SECONDARY MARKET GERMAN INTERBANK LOAN JAPANESE BANK LOANS & DISCOUNTS C ANADIAN FINANCE PAPER I N TERBANK STERLING SWISS INTERBANK LOAN WEIGHTED AVERAGE FOREIGN INTEREST RATE (G-10 COUNTRIES PLUS SWITZERLAND) C H A R T 6. E U R O - D O L L A R D E P O S I T RATES: LONDON OVERNIGHT 7-DAY 1-MCNTH 3-MCNTH 6-MCNTH 1-YEAR CHART 7. SELECTED EURO-DOLLAR AND U.S. MONEY MARKET RATES LAST VALUE PLOTTED DATE VALUE SERIES NAME CHART 8. INTEREST ARBITRAGE, 3-MONTH FUNDS EURO-DOLLAR DEPOSIT INTERBANK STERLING (LONDON), COVERED DIFFERENTIAL MAY 21 MAY 21 MAY 21 11..09 10..68 0..41 U.S. COMMERCIAL PAPER CANADIAN FINANCE PAPER, DIFFERENTIAL MAY 21 MAY 21 MAY 21 9..43 11..47 -2..05 EURO-DOLLAR DEPOSIT INTERBANK DM (FRANKFURT) , COVERED DIFFERENTIAL MAY 21 MAY 21 MAY 21 11..09 11..47 -0..39 EURO-DOLLAR DEPOSIT SWISS INTERBANK, COVERED DIFFERENTIAL MAY 21 MAY 21 MAY 21 11..09 11..16 -0..07 MAY 16 MAY 16 APRIL MAY 9 MAY 9 MARCH 7 MAY 2 MAY 16 10.25 8.61 10.30 4.86 11.41 14.30 9.83 10.57 APRIL DEC. MARCH 12.04 6.63 11.61 COVERED CHART 9. LONG TERM GOVERMENT BOND YIELDS UNITED STATES GERMANY JAPAN (MONTHLY) SWITZERLAND CANADA FRANCE NETHERLANDS UNITED KINGDOM . CORPORATE AAA BONDS EURC-DM BONDS EURC-DOLLAR BONDS CHART 10. INDUSTRIAL STOCK INDICES UNITED STATES JAPAN CANADA FRANCE UNITED KINGDOM SWITZERLAND GERMANY MAY MAY DEC. MAY MAY MAY MAY 16 16 29 2 16 16 9 111.,27 309..17 113..81 143..38 104..31 73..34 91..41
@FedFRASER