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(5 1 6 / 5 1 7 )
Selected Interest
Exchange Rates
W eekly Series o f Charts
May 31, 1983
DIVISION OF
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 M A R K E T S
S E C T IO N
BOARD O F GOVERN ORS
F E D E R A L R E S E R V E SYSTEM
Washington, D .C . 20551
Table of Contents
TABLES
SUBSCRIPTION RATES:
1. LATEST FIGURES PLOTTED
2. DAILY CERTIFIED SPOT
EXCHANGE RATES-H.10 RELEASE
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, Divi
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.
CHARTS
1. SPOT EXCHANGE RATE INDICES
2. 3-MONTH FORWARD EXCHANGE RATES
3. GOLD PR ICE-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
a 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
RATIO SCALE
MARCH 1 9 7 3 = 1 0 0
MARCH 1 9 7 3 = 1 0 0
160
FOREIGN CURRENCY
PRICE OF U.S. DOLLAR
140
-
120
—
100
-
80
n
i
u
1981
...
11 i u .i i.i i I.I.. n i n i i i i i i
1983
1981
1983
—
180
-
160
CHART 2
3-MONTH FORWARD EXCHANGE RATES
PREMIUM (+) OR ( - )
AVERAGES FOR WEEK ENDING WEDNESDAY
1981
1983
1981
1983
CHART 3
PRICE OF GOLD IN LONDON
AVERAGES FOR WEEK ENDING WEDNESDAY
u.s. c
U.S. DOLLARS PER FINE
HRS PER FINE OUNCE
800
800
750
750
700
700
650
650
600
600
550
550
500
500
450
450
400
400
350
350
300
300
iiIIi1ii1ji
250
1980
1981
1982
1983
250
CHART 4
CALL MONEY RATES
WEEKLY SERIES
PERCENT PER
28
24
24
20
20
16
16
12
12
8
8
4
4
0
24
24
20
20
16
16
12
12
8
8
4
4
♦
0
+
0
24
20
20
16
16
12
12
8
8
4
4
0
1981
1983
1981
1983
CHART 5
3-MONTH INTEREST RATES
WEEKLY SERIES
rr.r
NT PER ANNUM
PERCENT PER
22
24
U. S. CD* S
18
20
14
16
10
12
6
20
@
16
16
12
12
8
8
4
16
12
12
8
8
4
4
0
1981
1983
1981
1983
CHART 6
EURO-DOLLAR DEPOSIT RATES
Londo n
AVERAGES FOR WEEK ENDING WEDNESDAY
PERCENT PER
PER ANNUM
24
24
20
20
16
16
12
12
3
8
4
4
24
24
20
20
16
16
12
12
8
8
4
4
24
24
20
20
16
16
12
12
8
8
4
4
1981
1983
1981
1983
CHART 7
SELECTED EURO-DOLLAR AND U. S. MONEY MARKET RATES
DIFFERENTIAL: PLUS(+), FAVORS BORROWING IN U. S.
AVERAGES FOR WEEK ENDING WEDNESDAY
P E R C E N T PER ANNUM
P ER C E N T PER ANNUM
3
2
o+
1
1
2
3
4
1 PERCENT ON DIFFERENTIAL SCALE = 2 PERCENT ON RATE SCALE
CHART 8
INTEREST ARBITRAGE: 3-M ONTH FUNDS
DIFFERENTIAL: PLUS(+), INDICATES FAVOR DOLLAR ASSETS
AVERAGES FOR WEEK ENDING WEDNESDAY
P E R C E N T PER ANN UM
P E R C E N T P ER A N N U M
DIFFERENTIAL
111111H 111111111
2
28
INTERBANK DM
CO VERED FRA NKFURT
2
+
0
2
1 PERCENT ON D IF F E R E N T IA L S C A LE = 2 PERCENT ON RATE SC A LE
CHART 9
LONG-TERM GOVERNMENT BOND YIELDS
WEEKLY SERIES
PERCENT PER
ENT PER ANNUM
19
19
UNITED STATES
15
15
11
11
INI 111
7
7
15
9
11
5
1
7
13
13
MONTHLY
JAPAN
9
9
5
5
22
U. S. CORPORATE
22
m o n thly
18
18
Aaa BONDS
14
14
10
10
6
6
1981
1983
CHART 10
INDUSTRIAL STOCK INDICES
WEEKLY SERIES
1981
1983
1981
1983
LAST VALUE PLOTTED
DATE
VALUE
SEBIES SAME
CHABT
I. SPOT EXCHANGE BATES AHD INDICES
MEEKLY AYEBAGES, BOOM BUYING BATES
{U.S. CERTS)
6SBHAH HABK
J APAH ESE YEN
DUTCH GUILDER
U.K. POUND
CANAD IAN DOLLAB
FRENCH FRANC
SilSS FBAHC
BELGIAN FRANC
ITALIAN LIRA
HAY
HAY
HAY
HAY
HAY
HAY
HAY
HAY
HAY
25
25
25
25
25
25
25
25
25
40.24
0.42489
35.81
356.37
81.06
33.41
48.16
2.01687
0.06774
HAY
HAY
HAY
HAY
HAY
HAY
HAY
HAY
HAY
25
25
25
25
25
25
25
25
25
113.21
111.25
102.80
63.24
80-79
60.43
154.94
79.47
38.48
25
25
25
25
25
25
25
25
25
25
25
122.74
140.67
134.98
122.39
72.06
94-54
68.26
185.22
93.04
42.55
68.38
25
25
25
25
25
25
25
25
-0.28
-1.00
4.24
-4.33
4.51
3.41
2.88
-6.61
INDICES, HARCH 1973 BASE RATES - 100
GSfiHAN HARK
J A P A N E S E YEN
DUTCH GUILDER
U.K. POUND
CANADIAN DOLLAR
FRENCH FRANC
SNISS FRANC
BELGIAN FRANC
ITALIAN LIRA
HEIGHTED AVERAGE EXCHANGE VALUE INDICES, HAR 1973 * 100
<G-10 COUNTRIES PLUS SWITZERLAND)
U.S. DOLLAB
GERMAN HARK
J A P A N E S E YEN
DUTCH GUILDER
U.K. POUND
CANADIAN DOLLAR
FRENCH FRANC
SNISS FRANC
BELGIAN FRANC
ITALIAN LIRA
SHE9ISH KRONA
HAY
HAY
HAY
HAY
HAY
HAY
HAY
HAY
HAY
HAY
MAY
CHART 2. 3-HONTH FORWARD EXCHANGE RATES, PREMIUM OR DISCOUNT
CANA D I A N DOLLAR
U.K. POUND
GERMAN HARK
FRENCH FRANC
SNISS FRANC
DUTCH GUILDER
JAPANESE YEN
ITALIAN LIRA
HAY
MAY
MAY
HAY
HAY
HAY
HAY
HAY
SERIES NAME
LAST VALUE PLOTTED
DATE
VALUE
CHART 3. GOLD PRICE IN LONDON, AFTERNOON FIXING
U.S. DOLLARS PER FINE OUNCE
HAT 25
438.53
CHART 4. CALL HONEY RATES
U.S. FBDERAL FUNDS
OVERNIGHT EURO-DOLLAR DEPCSITS
U.K.
CANADA
GERMANY
EURO-DM
JAPAN
FRANCE
NETHERLANDS
EURO-SWISS FRANC
HAY
MAY
HAY
HAY
HAY
HAY
HAY
HAY
JAN.
HAY
25
25
20
13
20
13
20
20
1
13
8.72
8.68
10.25
10.09
5.00
4.68
5.94
12.50
10.30
3.05
HAY
HAY
HAY
HAY
HAY
HAY
HAY
25
25
25
25
25
25
25
8.66
5.27
6. 56
9.32
10.28
4.69
8. 28
HAY
MAY
HAY
MAY
HAY
MAY
25
25
25
25
25
25
8.68
8.84
8.96
9. 14
9.26
9.41
OVERNIGHT EURO-DOLLAR DEPOSITS
U.S. FEDERAL FUNDS
DIFFERENTIAL ADJ. FOR RESERVE REQUIREMENTS
HAY 25
HAY 25
HAY 25
8.68
8.72
-0.05
3-MONTH EURO-DOLLAR DEPOSIT HATE
U.S. 90-DAY CD'S, SECONDARY HARKBT
DIFFERENTIAL
MAY 25
MAY 25
HAY 25
9. 14
8.66
0.48
CHART 5. 3— MONTH INTEREST RATES
U.S. 90-DAY CD'S, SECONDARY MARKET
GERMAN INTERBANK LOAN
JAPANESE BANK LOANS 6 DISCOUNTS
CANADIAN FINANCE PAPER
INTERBANK STERLING
SWISS INTERBANK LOAN
WEIGHTED AVERAGE FOREIGN INTEREST RATE
{G-10 COUNTRIES PLUS SNITZBRLAND)
CHART 6. EURO-DOLLAR DEPOSIT RATES: LONDON
OVERNIGHT
7-DAY
1-MONTH
3-MONTH
6-MONTH
1-YEAR
CHART 7. SELECTED EURO-DOLLAR AND U.S. HONEY MARKET RATES
SERIES SAME
CHABT 8. INTEREST ABBITBAGB,
LAST VALUE PLOTTED
DATE
VALUE
3— MONTH FUNDS
EUBG-DOLLAB DEPOSIT
INTEHBANK STEELING (LONDON), COVEBED
DIFFEBESTIAL
HAY 25
MAY 25
HAY 25
9.14
9.25
-0.11
U „ 5. COEHEBCIAL PAPEB
CANADIAN FINANCE PAPEB, COVEBED
DIFFEBENTIAL
HAY 25
HAY 25
HAY 25
3.46
9.04
-0.58
EUBO-DOLLAB DEPOSIT
INTEBBAMK DM (FBANKFUBT), C O V E B E D
DIFFEBENTIAL
HAY 25
HAY 25
HAY 25
9.14
9.57
-0.43
EUBO-P3LLAB DEPOSIT
SWISS INTEBBAMK, COVEBED
DIFFEBENTIAL
HAY 25
HAY 25
HAY 25
9. 14
9.25
-0.12
20
6
10.45
7-45
7.46
4.40
10.99
14.79
8.89
9.97
CHABT 9. LONG TEBH GOVEBHENT BOND YIELDS
UNITED STATES
GEBHANY
JAPAN (HONTHLY)
SHITZEBLAMD
CANADA
FBANCE
NETHEBLANDS (HONTHLY)
UNITED KINGDOM
HAY
HAY
HABCH
HAY
HAY
HABCH
MOV.
HAY
13
13
11
6
I. COBPOBATE
AAA BONDS
EOBO-DOLLAB BONDS
CHABT
10.
APBIL
HABCH
11.51
10.09
STOCK INDICES
UNITED STATES
UNITED KINGDOM
CANADA
GEBHANY
SHITZEBLAMD
NETHEBLANDS
FBANCE
JAPAN
HAY
HAY
HAY
HAY
HAY
HAY
HAY
HAY
4
4
4
4
4
4
4
4
169.35
151.65
232.46
136.35
109.85
122.27
123.36
167.72
@FedFRASER