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5"4-1+0 (516/517) »•* Selected Interest & Exchange Rates Weekly Series of Charts I May 29, 1984 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 1 9 7 3 = 1 0 0 RATIO SCALE MARCH 1 9 7 3 = 1 0 0 160 160 FOREIGN CURRENCY PRICE OF U.S. DOLLAR 140 120 JAPANESE YEN — ~ - ^ 140 120 — 100 - - 80 I I | I I " I "i 120 i | I I I I I I I I I I I80 SWISS FRANC CANADIAN DOLLAR - 80 — I 60 I — wf 200 ^ — - -x, __ /V ^ W I I I I I I I II II II II I I I I I iI I i I 240 — — 100 _ 100 160 I I I I I I I 120 I I I I i 180 160 GERMAN MARK - DUTCH GUILDER i r 140 120 100 i 120 — 100 - i , iI, 7 I I I I I I Ix fIuI, iI, I i : 120 — 100 - i FRENCH FRANC — U.K. POUND 80 80 60 A - - i - 50 50 I " i l l I ill ii hill i I "l I I I I I 80 — 160 140 "" BELGIAN FRANC I 100 - 80 - 70 ITALIAN LIRA 120 60 60 — 60 — 50 - i I I I I I 1982 I MIMIMIM 40 30 1984 1982 1984 CHART 2 3 - M O N T H FORWARD EXCHANGE RATES PREMIUM (+) OR (-) AVERAGES FOR WEEK ENDING WEDNESDAY PER PERCENT PER AN •NT PER ANNUM 6 - CANADIAN DOLLAR + ITALIAN LIRA - 0 Th.lMlM I III 6 6 DUTCH GUILDERI U. K. POUND /V 0 v : 6 I 9 12 6 + 0 nA v \ I I I I I MlululM SWISS FRANC GERMAN MARK I I I : / iiininiii 8 FRENCH FRANC 0 JAPANESE YEN 8 16 24 32 1982 1984 1982 1984 CHART 3 PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY U.S. DOLLARS PER FINE OUNCE U.S. DOLLARS PER FINE OUNCE 600 600 550 - 550 12.5 Kg BARS AFTERNOON FIXING PRICE 500 - 500 450 - 450 400 400 — 350 - - 350 300 - - 300 250 250 1981 1982 1983 1984 CHART 4 CALL MONEY RATES WEEKLY SERIES PER PERCENT PER Al [NT PER ANNUM 28 24 \ 20 n FRANCE U. S. FEDERAL FUNDS zr 16 - 12 JAPAN 8 i 4 I I I I I 24 CANADA 20 EURO-SWISS FRANC 16 12 8 NETHERLANDS 4 + 0 I I II II 24 20 16 U. K. 2-DAY LOCAL AUTHORITY GERMANY - 12 iEURO-DM * 8 4 i 1982 1984 i i 1 1 1 1982 1984 CHART 5 3-MONTH INTEREST RATES WEEKLY SERIES PERCENT PER ANI •JT PER ANNUM 22 18 U.S. CD S CANADIAN FINANCE CO. PAPER 14 10 WEIGHTED AVERAGE FOREIGN RATE 6 20 U K INTERBANK STERLING 16 GERMAN INTERBANK RATE 12 8 11 SWISS INTERBANK RATE 9 - \ -jy ' - JAPANESE BANK LOANS AND DISCOUNTS \ 7 5 I I I I I 1982 I I I I I I I I I I I I 1984 i i i I I 1982 I I ! I I I I I I I I I 1984 CHART 6 EURO-DOLLAR DEPOSIT RATES LONDON AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER ANNUM PERCENT PER ANNUM 24 24 OVERNIGHT 3-MONTH 7-DAY 6-MONTH 1-MONTH 1-YEAR 1982 1984 1982 1984 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 22 26 22 - FEDERAL FUNDS 18 18 3-MONTH E U R O - D O L L A R DEPOSITS 14 - OVERNIGHT 10 - 90-DAY CD S E U R O - D O L L A R DE P O S I T S 10 I I I I I I I I I II I I I I I I I I I I I II II I I I II II II I I 11111111111 11111111111 IDIFFERENTIAL DIFFERENTIAL J I I 111111111111111111111111 1982 1 P E R C E N T 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 1984 I 14 I 1982 I 1984 CHART 8 INTEREST ARBITRAGE: 3-MONTH FUNDS DIFFERENTIAL: P L U S M , INDICATES FAVOR DOLLAR ASSETS AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER ANNUM PERCENT PER ANNUM 28 28 EURO-DOLLAR DEPOSITS 20 20 DASHED LINE - CANADIAN FINANCE CO. PAPER, COVERED 12 12 INTERBANK STERLING COVERED LONDON - U. S. COMMERCIAL PAPER I I I I I I X'X x/ J_L 1_1 4 2 DIFFERENTIAL DIFFERENTIAL — ^ fVs/VxyVuV^/x/A/ - A " i l l 2 I I I 4 28 28 20 SWISS INTERBANK (SF) COVERED INTERBANK DM COVERED FRANKFURT 12 I I 11 I I I I I DIFFERENTIAL DIFFERENTIAL A ^ A IA . 1 A AA 'Ay/fxyX_/vAv,A 1982 I ~ 1984 1 P E R C E N T O N DIFFERENTIAL S C A L E = 2 P E R C E N T O N R A T E S C A L E 12 . i l i i l n h i — I - DASHED LINE U - I 20 EURO-DOLLAR DEPOSITS^, EURO-DOLLAR DEPOSITS —DASHED LINE J_1 » v\ - i i 1 1 1 1982 ^ JL " 1 1984 CHART 9 LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES PER ENT PER ANNUM PERCENT PER Af 19 19 » jh CANADA I — UNITED STATES 15 - 15 11 - 11 I 7 I I 7 — 15 UNITED KINGDOM —I SWITZERLAND — — 11 5 I 7 13 I l I I I ill,iI,,I,i i i l i i l n " 1 13 MONTHLY GERMANY JAPAN - 9 9 l 5 22 9 l I l I I 11111111111 5 22 MONTHLY U. S. CORPORATE FRANCE 18 18 Aaa BONDS 14 14 EURO-DOLLAR BONDS 10 V 10 NETHERLANDS MONTHLY lllillllllllllll i l l 6 1982 1984 1982 1984 6 CHART 10 INDUSTRIAL STOCK INDICES WEEKLY SERIES 1969= 240 200 JAPAN UNITED STATES 160 120 210 170 FRANCE UNITED KINGDOM 130 90 70 190 150 SWITZERLAND GERMANY w A - 110 I 70 I I I I I I II III III I! 180 CANADA NETHERLANDS 140 - 100 80 l 60 1982 1984 I I I I 1982 I 1984 SERIES CHART 1. S P O T WEEKLY LAST VALUE PLOTTED DATE VALUE NAME E X C H A N G E R A T E S AND I N D I C E S A V E R A G E S , NOON BUYING RATES (U.S. C E N T S ) 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 SWISS FRANC BELGIAN FRANC ITALIAN LISA SWEDISH KRONA INDICES, MARCH 1973 B A S E R A T E S = WEIGHTED AVERAGE EXCHANGE VALUE INDICES, (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 ) MAR 1973 = 36.25 0.42944 32.22 138.73 77.23 11.79 43.98 1.78491 0.05885 12.35 MAY MAY MAY MAY MAY MAY MAY MAY MAY 23 23 23 23 23 23 23 23 23 101. 98 112.,44 92. 51 56, 11 7 6 . 97 53., 14 141. 49 70.33 33.,43 23 23 23 23 23 23 23 23 23 23 23 134. 48 135.,30 148.,06 118.,07 68. 36 96..97 64.,09 181.66 88.,25 39.52 6 8 . 19 23 23 23 23 23 23 23 23 0. 19 2. 45 5. 72 - 1 . 18 7. 86 5. 52 5. 31 - 4 . 00 100 MAY MAY MAY MAY MAY MAY MAY MAY MAY MAY MAY 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 DCLLAR FRENCH FRANC SWISS FRANC BELGIAN FRANC I T A L I A N LIRA SWEDISH KRONA CANADIAN DCLLAR U.K. POUND GERflAN M A R K FRENCH FRANC SWISS FRANC DUTCH GUILDER J A P A N E S E YEN ITALIAN LIRA 23 23 23 23 23 23 23 23 23 23 100 GERMAN MARK J A P A N E S E YEN DUTCH GUILDER U.K. POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC BELGIAN FRANC ITALIAN LIRA 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 MAY MAY MAY MAY MAY HAY MAY MAT MAY MAY , P R E M I U M OR DISCOUNT MAY MAY MAY MAY MAY MAY MAY MAY # L A S T V A L U E PLOTTED DATE VALUE S E R I E S NAME CHART 3. G O L D P R I C E IN L O N D O N , A F T E R N O O N F I X I N G U . S . D O L L A R S PER FINE O U N C E C H A R T 4. C A L L MAY 23 378.18 MONEY R A T E S MAY HAY MAY APRIL MAY MAY MAY MAY JAN. MAY 23 23 18 27 18 25 18 18 1 25 S.,75 9.,77 8.,75 10.,43 5.,50 5.,23 5.75 11.50 10.3ft 0.88 MAY MAY MAY MAY MAY MAY MAY 23 23 23 23 23 23 23 11. 14 6. 10 6. 25 11. 66 9. 26 3. 82 8. 59 MAY MAY MAY MAY MAY MAY 23 23 23 23 23 23 9.77 10.31 10.73 11.57 12.16 12.80 OVERNIGHT EURO-COLLAR DEPOSITS U.S. FEDERAL FUNDS D I F F E R E N T I A L ADJ. F O B R E S E R V E R E Q U I R E M E N T S M A Y 23 MAY 23 MAY 23 9. 77 9. 75 03 3-MONTH EURO-DOLLAR DEPOSIT BATE U . S . 90-DAY C D ' S , S E C O N D A R Y M A R K E T DIFFERENTIAL MAY 23 MAY 23 MAY 23 11. 57 11. 14 72 U.S. FEDERAL FUNDS OVERNIGHT EURO-DOLLAR DEPOSITS U.K. CANADA GERMANY EURO-DM JAPAN FRANCE NETHERLANDS EURO-SWISS FRANC C H A R T 5. 3 - M O N T H I N T E R E S T R A T E S U.S. 90-DAY CD'S, SECONDARY MARKET GERMAN INTERBANK LOAN J A P A N E S E EANK L O A N S 6 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 INTERBANK STERLING S U S S INTERBANK LOAN W E I G H T E D A V E R A G E FOREIGN I N T E R E S T R A T E (G-10 C O U N T R I E S P I U S S W I T Z E R L A N D ) C H A R T 6 . E U R O - D O L L A R D E P O S I T R A T E S ; LONDON OVERNIGHT 7-DAY 1-MONTH 3-MONTH 6-MONTH 1-YEAR CHART 7. SELECTED EURO-DOLLAR AND U . S . MONEY M A R K E T R A T E S 0. 0. SERIES CHART 8. INTEREST LAST VALUE PLOTTED DATE VALOE NAME ARBITRAGE, 3-MONTH FUNDS EURO-DOLLAR DEPOSIT INTERBANK STERLING (LONDON), COVERED DIFFERENTIAL HAY 23 MAX 23 MAY 23 11.57 11-77 -0.19 U.S. C O M M E R C I A L PAPER CANADIAN FINANCE PAPER, COVERED DIFFERENTIAL MAY 23 MAY 23 HAY 23 10.59 11.86 -1.27 EURO-DOLLAR DEPOSIT I N T E R B A N K DM ( F R A N K F U R T ) , C O V E R E D DIFFERENTIAL H A Y 23 HAY 23 23 11.57 11.90 -0.33 EURO-DOLLAR DEPOSIT SWISS INTERBANK, COVERED DIFFERENTIAL HAY 23 MAY 23 H A Y 23 11.57 11.76 -0.18 M A Y 18 M A Y 18 MARCH MAY 11 A P R I L 27 9 MARCH FEB. M A Y 18 13.49 C H A R T 9. L O N G TERM G O V E R M E N T BOND UNITED STATES GERMANY J A P A N (MONTHLY) SWITZERLAND CANADA FRANCE N E T H E R L A N D S (MONTHLY) UNITED KINGDOM YIELDS 8.10 6.64 4.66 13.31 13.91 8.56 10.26 U.S. C O R P O R A T E AAA B O N D S EURO-DOLLAR CHART 10. STOCK BONDS 12.81 10.29 INDICES UNITED STATES UNITED KINGDOM CANADA GERMANY SWITZERLAND NETHERLANDS FRANCE JAPAN APRIL NOV. M A Y 16 M A Y 16 M A Y 16 M A Y 16 M A Y 16 M A Y 16 M A Y 16 M A Y 16 165.62 193.34 224.86 149.74 126.67 158-54 178.31 220.39 FEDERAL RESERVE statistical release H.K> 012) BAT 25, 1984 FOREIGN EXCHANGE RATES FOB TBI UEEK ENDING HAT 25, 1984 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 rates In New York City for cable transfers payable In foreign currencies: COUNTRY MONETARY UNIT •AUSTRALIA AUSTRIA BELGIUfl BRAZIL CANADA CHINA,PR. DENflARK FINLAND FRANCE GERMANY GREECE HONG KONG INDIA •IRELAND ISRAEL ITALY JAPAN MALAYSIA MEXICO NETHERLANDS •HEM ZEALAND NORWAY PHILIPPINES PORTUGAL SINGAPORE •SOUTH AFRICA SOUTH KOREA SPAIN SRI LANKA SWEDEN SWITZERLAND TAIWAN THAILAND •UNITED KINGDOM VENEZUELA DOLLAR SCHILLING FRANC CRUZEIRO DOLLAR YUAN KRONE MARKKA FRANC D . MARK DRACHMA DOLLAR RUPEE POUND SHEKEL LIRA YEN RINGGIT PESO GUILDER DOLLAR KRONE PESO ESCUDO DOLLAR RAND WON PESETA RUPEE KRONA FRANC DOLLAR BAHT POUND BOLIVAR MEMO: •UNITED STATES DOLLAR MAY 21 IPTIRRRNCV I!MT«rs PEP DOLLAB) MAY 23 MAY 22 MAY 24 MAI 25 89.58 19.370 56.000 1534.00 1.2943 2.2042 10.0890 5.8310 8.4720 2.7555 108.750 7.8175 11.0400 111.42 195.150 1698.00 233.00 2.3175 205.0000 3.0995 64.640 7.8380 14.2500 140.800 2.1135 78. 10 803.20 154.130 25.140 8.0900 2.2695 39.750 23.010 139.05 15.6500 89.81 19.283 55.830 1534.00 1.2950 2.2042 10.0465 5.8055 8.4360 2.7420 108.400 7.8175 11.0400 111.95 196.100 1692.00 233.25 2.3115 204.0000 3.0870 64.650 7.8020 14.2500 140.000 2.1075 78.30 803.20 153.450 25.140 8.0675 2.2670 39.760 23.010 138.90 15.8000 90.35 19.337 55.850 1534.00 1.2952 2.2042 10.1050 5.8070 8.4870 2.7585 108.200 7.8170 11.0400 111.70 197.310 1696.00 232.37 2.2940 205.0000 3.1030 64.800 7.8400 14.2500 139.750 2.0940 78.10 802.20 153.440 25.160 8.1150 2.2775 39.770 23.010 137.65 16.1000 90.15 19.258 55.690 1534.00 1.2972 2.2218 10.0450 5.8415 8.4440 2.7430 108.880 7.8170 11.0600 112.00 197.510 1692.00 231.83 2.3140 207.0000 3.0900 64.650 7.7850 14.2500 140.800 2.1120 77.90 801.20 154.810 25.160 8.0450 2.2680 39.790 23.010 138.20 16.2000 89.80 19.135 55.640 1558.00 1.2948 2.2063 10.0075 5.7880 8.3975 2.7280 107.950 7.8160 11.0500 112.50 197.510 1687.00 231.70 2.3095 208.0000 3.0725 64.680 7.7800 14.2500 139.400 2.1045 78.20 801.20 153.400 25. 160 8.0450 2.2490 39.820 23.010 138.30 16.3000 134.37 134.06 134.56 134.05 133.62 IINDBI OF H E I G H T E D A V B B A G B E X C H A N G E VALUE OF 0.S. DOLLAS AGAISST C U B B B N C I B S OF OTHER G-11 CCOMTBIBS. HABCH 1973 « 100. HEIGHTS ARB 1972-76 GLOBAL TBADB OF EACH OF THE 10 COUNTRIES. SBBIBS H B t l S B D AS OF AUGUST 1978. FOB DBSCBIPTION AND BACK DATA, SEE "INDEX OF THE BBIGHTBD-AVBBAGB E X C H A N G E VALOE OF THE U.S. DOLLAB: B B V I S I O N " ON PAGE 700 OF THE AUGUST 1978 F E D Z B A 1 B B S B B T B BULLETIN. •VALUE IS O.S. C E N T S
@FedFRASER