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I (516/517) Z 3 W - I Selected & November 16,1981 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 S C A L E MARCH 1 9 7 3 = 1 0 0 RATIO S C A L E MARCH 1 9 7 3 = 1 0 0 120 120 / A - - UK. POUND 100 J - 80 V - FOREIGN CURRENCY PRICE OF U.S. DOLLAR I I I I I ~ I 100 I I I I I 80 I GERMAN MARK X 90 FRENCH FRANC JAPANESE YEN 120 ZZJ 100 SWISS FRANC I I I BELGIAN FRANC "-X-/ DUTCH GUILDER 100 ' I I I i l l ii h i l l i 100 100 ITALIAN LIRA 80 kZ 60 II HIM 1979 1981 80 60 CANADIAN DOLLAR 40 ^ - I I I I I I II I II 1979 40 1981 CHART 2 3-MONTH FORWARD EXCHANGE RATES PREMIUM (+) OR ( - ) AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER ANNUM P E R C E N T PER A N N U M 6 24 CANADIAN DOLLAR ITALIAN LIRA - - + 0 ,y i i i I I I lllllllllll 24 V I XJJ \AAV I I - 6 - Vru I 12 DUTCH GUILDER U. K. POUND 12 - 1 1 1 6 18 GERMAN MARK SWISS FRANC - - 12 I I I I I I k \ FRENCH FRANC JAPANESE YEN A - 12 1 • - + 0 I 1979 1981 I I 1 1 1979 1 lllllllllll 1981 CHART 3 PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY U.S. c L L A R S PER FINE OUNCE U.S. D O L L A R S 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 100 1978 1979 1980 I I I I I I I I I I 1981 100 CHART 4 CALL MONEY RATES WEEKLY SERES PERCENT PER ANNUM NT PER ANNUM 28 28 24 U. K. 2-DAY LOCAL AUTHORITY U. S. FEDERAL FUNDS 20 16 12 8 4 24 20 16 CANADA 12 EURO-SWISS FRANC 8 4 NETHERLANDS + 0 24 20 FRANCE 16 GERMANY 12 8 JAPAN 4 EURO-DM 0 1979 1981 1979 1981 + CHART 5 3-MONTH INTEREST RATES WEEKLY SERIES PER ANNUM PERCENT PER 20 20 16 16 12 12 U.K. INTERBANK STERLING 8 8 WEIGHTED AVERAGE FOREIGN RATE 4 4 26 20 22 16 CANADIAN FINANCE CO. PAPER GERMAN INTERBANK RATE 18 12 14 8 10 4 6 0 16 12 JAPANESE BANK LOANS AND DISCOUNTS SWISS INTERBANK RATE 12 8 8 4 W i U - I . 4 1979 + 1981 0 1979 1981 5 CHART 6 EURO-DOLLAR DEPOSIT RATES lonooh AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER ANNUM 24 24 3-MONTH OVERNIGHT 20 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-YEAR 1-MONTH 20 20 16 16 12 12 8 8 4 4 1979 1981 1979 1981 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 26 22 22 FEDERAL FUNDS 18 - 18 3-MONTH E U R O - D O L L A R DEPOSITS 14 14 10 10 - DAY CD OVERNIGHT E U R O - D O L L A R DEPOSITS I 3 2 I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I 3 — DIFFERENTIAL - DIFFERENTIAL - 2 / A 1 — + ^ A z ^ v x 0 , / l V V V M 1 1 - 2 - 3 - 4 , I I V ft N. A / A M I V 1 1 1 11 11 1 1 II I 1979 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 P E R C E N T ON RATE S C A L E 1 A A M T V 4o iWIJ/t vv - - 1 - - - 2 - - - 3 i 11 i i 1 i i 1 i i 1981 I I I I I 1979 I I I I I I I I I I I I I I I I I I I I I I I 1981 4 CHART 8 INTEREST ARBITRAGE: 3-MONTH FUNDS DIFFERENTIAL: PLUS(+), 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 INTERBANK STERLING U. S. COMMERCIAL PAPER COVERED LONDON — A DIFFERENTIAL — ^ \ - DIFFERENTIAL — yr- A - v V m V — f l / 4 w v Z - " m i I I I INTERBANK DM COVERED FRANKFURT SWISS INTERBANK (SF) COVERED - EURO-DOLLAR DEPOSITS EURO-DOLLAR DEPOSITS DIFFERENTIAL 1979 1 P E R C E N T ON D I F F E R E N T I A L DIFFERENTIAL 1981 S C A L E = 2 PERCENT SCALE 1979 1981 20 T CHART 9 LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES ENT PER A N N U M PERCENT PER Ah 19 U. S. CORPORATE 19 MONTHLY 17 17 15 15 UNITED STATES Aaa BONDS 13 13 11 11 9 9 EURO-DOLLAR BONDS 7 7 12 9 10 - SWITZERLAND 7 - 8 5 GERMANY 6 3 — — 1 4 15 13 MONTHLY UNITED KINGDOM JAPAN 11 13 9 11 7 9 5 7 19 18 16 17 FRANCE 14 15 CANADA 13 12 11 10 9 8 NETHERLANDS 6 7 1979 + 1981 1979 1981 C + CHART 10 INDUSTRIAL STOCK INDICES WEEKLY SERIES RATIO S C A L E 1969=100 RATIO SCALE 1969=100 180 180 160 140 120 100 v y — - A - V / i J — \ K / I 80 160 JAPAN UNITED STATES - - — 140 /V - I I I IIIIIIIIII I | I | | - 120 - 100 M | M I IE I I I 140 120 100 SWITZERLAND UNITED KINGDOM 80 Mill 60 I III III I 140 120 100 FRANCE 80 GERMANY 60 140 120 100 - - v A IVx 11 80 w ^ y y lYvw - - - I\ - - \ — F AJV V r NETHERLANDS - CANADA 60 — 1 45 1 1979 + 1 i 1981 i i 1 1 1979 1 mIMIHIM 1981 80 SERIES CHART 1 . LAST VALUE PLOTTED VALUE DATE NAME SPOT EXCHANGE RATES AND I N D I C E S WEEKLY AVERAGES, NOON BUYING RATES (U.S. CENTS) GERMAN MARK JAPANESE YEN DUTCH GUILDER U . K . FOUND CANADIAN DOLLAR FRENCH FRANC S W I S S FRANC BELGIAN FRANC ITALIAN LIRA INDICES, MARCH 1 9 7 3 NOV. NOV. NOV. NOV. NOV. NOV. NOV. NOV. NOV. BASE RATES = NOV. NOV. NOV. NOV. NOV. NOV. NOV. NOV. NOV. WEIGHTED AVERAGE EXCHANGE VALUE I N D I C E S , ( G - 1 0 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 3-MONTH FORWARD EXCHANGE R A T E S , CANADIAN DOLLAR U . K . POUND GERMAN MARK FRENCH FRANC SWISS FRANC DUTCH GUILDER JAPANESE YEN ITALIAN LIRA 45.04 0.43756 40.93 187.66 83.75 17.82 55.98 2.67544 0.08412 100 GERMAN MARK JAPANESE YEN DUTCH GUILDER U . K . POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC BELGIAN FRANC ITALIAN LIRA CHART 2 . 1 1 1 1 1 1 1 1 1 MAR 1 9 7 3 = 126.70 114.57 117.49 75.90 83.48 80.29 180.09 105.43 47.73 100 NCV. NOV. NOV. NOV. NOV. NOV. NOV. NOV. NOV. NOV. NOV. 1 1 1 1 1 1 1 1 1 1 1 1 0 4 . 97 138. 92 1 2 1 ., 5 3 123.76 7 6 .,94 8 5 .,77 8 1 .,70 1 9 0 .,50 1 1 0 ., 0 5 4 7 ., 06 8 3 ., 13 PREMIUM OR DISCOUNT NOV. NOV. NOV. NOV. NOV. NOV. NOV. NOV. 11 11 11 11 11 11 11 11 — 3 ,. 0 0 - 0 . , 70 3 .,53 - 2 .,43 4 ., 3 1 1 ., 9 5 7 ., 5 6 -7.17 LAST VALUE PLOTTED DATE VALUE S E R I E S NAME CHART 3 . GOLD P R I C E I N LONDON, U.S. CHART 4 . DOLLARS PER AFTERNOON F I X I N G NOV. F I N E OUNCE EURO-DOLLAR D E P O S I T R A T E S : 14. 13. 15. 19. 11. 10. 6. 15. 13. 01 98 25 61 00 86 81 63 70 1 0 . 60 NOV. NOV. NOV. NOV. NOV. NOV. NOV. 1 1 1 1 1 1 1 13.43 11.33 7.32 17.50 15.33 1 0 . 13 12.90 LONDON SELECTED EURO-DOLLAR AND U . S . 13.98 1 3 . 90 14.05 14.25 14.40 14.55 NOV. NOV. NOV. NOV. NOV. NOV. OVERNIGHT 7-DAY 1-MONTH 3-MONTH 6-MONTH 1-YEAR CHART 7 . NOV. 1 1 NOV. 11 NOV. 6 OCT. 2 3 6 NOV. OCT. 3 0 6 NOV. 6 NOV. 4 SEPT. OCT. 3 0 3-MONTH I N T E R E S T RATES U . S . . 9 0 - D A Y C D ' S , SECONDARY MARKET GERMAN INTERBANK LOAN JAPANESE BANK LOANS & DISCOUNTS CANADIAN FINANCE PAPER INTERBANK S T E R L I N G S W I S S INTERBANK LOAN WEIGHTED AVERAGE FOREIGN I N T E R E S T RATE ( G - 1 0 COUNTRIES PLUS SWITZERLAND) CHART 6 . 4 2 3 . 40 CALL MONEY RATES U . S . FEDERAL FUNDS OVERNIGHT EURO-DOLLAR D E P O S I T S U . K . 2 - D A Y LOCAL AUTHORITY D E P O S I T S CANADA GERMANY EURO-DM JAPAN FRANCE NETHERLANDS EURO—ShlSS FRANC CHART 5 . 11 MONEY MARKET RATES OVERNIGHT EURO-DOLLAR D E P O S I T S U . S . FEDERAL FUNDS D I F F E R E N T I A L A D J . FOR RESERVE REQUIREMENTS NOV. NOV. NOV. 11 11 11 13. 98 14. 01 - 0 . 03 3-MONTH EURO-DOLLAR D E P O S I T RATE U . S . 9 0 - D A Y C D ' S , SECONDARY MARKET DIFFERENTIAL NOV. NOV. NOV. 11 11 11 14. 25 13. 43 0 . 82 LAST VALUE PLOTTED DATE VALUE SERIES NAME CHART 8 . I N T E R E S T ARBITRAGE, 3-MONTH FUNDS EURO-DOLLAR D E P O S I T INTERBANK S T E R L I N G (LONDON), COVERED DIFFERENTIAL NOV. NOV. NOV. 1 1 1 14.25 14.60 -0.35 U . S . COMMERCIAL PAPER CANADIAN FINANCE P A P E R , DIFFERENTIAL NOV. NOV. NOV. 1 1 1 13.05 14.37 -1.32 NOV. NOV. NOV. 1 1 1 14. 25 14. 97 -0.71 1 14.25 14.54 -0.29 COVERED EURO-DOLLAR D E P O S I T INTERBANK DM ( F R A N K F U R T ) , DIFFERENTIAL COVERED EURO-DOLLAR D E P O S I T SWISS INTERBANK, COVERED DIFFERENTIAL CHART 9 . LONG TERM GOVERMENT BOND Y I E L D S UNITED STATES GERMANY JAPAN (MONTHLY) SWITZERLAND CANADA FRANCE NETHERLANDS UNITED KINGDOM U.S. NOV. OCT. SEPT. OCT. OCT. OCT. SEPT. NOV. 6 30 16 23 16 4 6 14. 10. 9. 6. 16. 17. 11. 13. 22 40 03 00 87 07 98 61 CORPORATE AAA BONDS EURO-DOLLAR BONDS CHART 1 0 . NOV. NOV. NOV. SEPT. SEPT. 16.92 13.36 STOCK I N D I C E S UNITED STATES UNITED KINGDOM CANADA GERMANY SWITZERLAND NETHERLANDS FRANCE JAPAN OCT. OCT. OCT. OCT. OCT. OCT. OCT. OCT. 28 28 21 28 28 28 28 28 123. 102. 185. 95. 83. 76. 89. 143. 23 61 69 41 21 03 25 60 FEDERAL RESERVE statistical release H 10(512) * FOREIGN EXCHANGE RATES FOR THE WEEK ENDING NOVEMBER 13, NOVEMBER 18, 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 SRI LANKA SWEDEN SWITZERLAND UNITED KINGDOM MONETARY UNIT NOV. NOV. DOLLAR SCHILLING FRANC DOLLAR KRONE MARKKA FRANC D. MARK RUPEE POUND LIRA YEN RINGGII PESO GUILDER DOLLAR KRONE ESCUDO RAND PESETA RUPEE KRONA FRANC POUND 114.3900 6.48088 ' 2.69107 83.9068 14.0934 23.1428 17.9211 45.3412 10.9890 160.1000 0.08460 0.44096 44.0723 3.8986 41.1862 83.0000 17.1615 1.5662 104.2700 1.0578 4.7721 18.2899 56.4972 189.2000 114.0800 6.42673 2.66525 83.7592 13.8985 23.0123 17.7399 44.8632 10.9409 158.1500 0.08389 0.43507 44.0917 3.8926 40.8664 82.5500 17.0503 1.5516 103.9000 1.0512 4.7721 18.1077 55.7880 186.7000 10 (RATE O . S . NOV. H CENTS! 11 NOV. 12 114.3500 6.43501 2.69251 84.0266 13.9997 23.0521 17.9115 45.2182 10.9890 160.7500 0.08439 0.44004 44.3853 3.8926 41.2371 82.9500 17.0911 1.5588 104.3000 1.0491 4.7721 18.2983 56.8505 189.4500 NOV. 13 114.4000 6.43915 2.68025 84.1114 13.9665 23.0707 17.8571 45.0045 10.9890 158.9000 0.08429 0.43985 44.5038 3.8880 4 1 . 1862 82.9000 17.0867 1.5540 104. 1500 1.0482 4.7721 18.2315 56.9152 190.7000
@FedFRASER