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Selected Interest & Exchange Rates Weekly Series of Charts November 30,1981 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 Reservfe System in a form collectible at par in U.S. Currency. 2. DAILY CERTIFIED SPOT EXCHANGE RATESH.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 ft 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 zA, - J - - U.K. POUND - FOREIGN CURRENCY PRICE OF U.S. DOLLAR I I I I I " I FRENCHI FRANC GERMAN MARK - i i i I ! I JAPANESE YEN SWISS FRANC 11 I n h i l l i 160 w/11111111111 - - BELGIAh1 FRANC 140 \~jp- 120 V: DUTCH GUILDER 100 ~ l I I I I — ' I I I I ITALIAN LIRA CANADIAN DOLLAR ill 1979 111 n i l 11 1981 1979 1981 CHART 2 3-MONTH FORWARD EXCHANGE RATES PREMIUM (+) OR ( - ) AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER ANNUM PERCENT PER ANNUM 24 6 CANADIAN DOLLAR ITALIAN LIRA - I U. K. POUND V \nyvV 12 I I I 1 1 1 V\ ~ I „ I , DUTCH GUILDER l l l l 11111111 GERMAN MARK SWISS FRANC FRENCH FRANC JAPANESE YEN I I I I i l l I 111 1979 1981 1979 - x . 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 OUNCE 800 800 750 750 700 700 650 650 600 600 550 550 500 5G0 12,5 Kg BARS A F T E R N O O N FIXING P R I C E 450 4 5 0 400 4 0 0 350 350 300 300 250 250 200 200 150 150 100 •JUL I I I I I I I I I I I I 1978 1979 1980 1981 100 CHART 4 CALL MONEY RATES WEEKLY SERIES [NT PER ANNUM PERCENT PER A! 28 28 24 24 U. S. FEDERAL FUNDS 20 U. K. 2-DAY LOCAL AUTHORITY 20 16 16 12 12 8 8 4 4 24 24 20 20 16 16 CANADA 12 12 EURO-SWISS FRANC 8 8 4 4 NETHERLANDS + + 0 0 24 24 20 20 FRANCE 16 16 GERMANY 12 llfyf&x* ~ 12 8 8 JAPAN 4 — 0 i 1979 1981 i i " i i i 1979 i 4 0 11111111111 1981 CHART 5 3-MONTH INTEREST RATES WEEKLY SERIES :NT PER ANNUM PERCENT PER Ah 20 20 U . S . CD S 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 jv 12 - 8 4 11111111111 4 8 1979 1981 1979 1981 0 CHART 6 EURO-DOLLAR DEPOSIT RATES LONDON AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER AF ENT PER ANNUM 24 24 3-MONTH OVERNIGHT 20 20 16 16 12 12 8 8 11 lii lit 111 11 l u l l I I I 4 4 24 24 6-MONTH 7-DAY 20 20 16 16 12 12 8 8 4 4 24 24 1-MONTH 20 1-YEAR 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 r ~ 26 22 22 FEDERAL FUNDS 3-MONTH EURO-DOLLAR DEPOSITS 90-DAY CD* S OVERNIGHT I E U R O - D O L L A R DEPOSITS 3 3 DIFFERENTIAL DIFFERENTIAL 2 1 + 0 1 2 3 4 1981 1979 1 P E R C E N T ON D I F F E R E N T I A L SCALE = 2 PERCENT ON R A T E SCALE 1979 1981 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 20 12 z / W A / INTERBANK STERLING ^ \ / V I U. S. COMMERCIAL PAPER COVERED LONDON I I I I I i i l i i h i l n I DIFFERENTIAL — J HI ~ I I i 20 12 — rj __ ~ ~ - DIFFERENTIAL - \ - " yvA A I I ~ A - v — yu 4 I 28 INTERBANK DM COVERED FRANKFURT SWISS INTERBANK (SF) COVERED 20 12 EURO-DOLLAR DEPOSITS EURO-DOLLAR DEPOSITS I I l I l I DIFFERENTIAL 1981 1979 SCALE -LLLLLL DIFFERENTIAL I 1 PERCENT ON D I F F E R E N T I A L 111 = 2 P E R C E N T ON RATE S C A L E I 1979 I 1981 CHART 9 LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES PERCENT PER A|W UM ENT PER ANNUM 19 U. S. CORPORATE 19 MONTHLY 17 17 15 15 UNITED STATES Aaa BONDS 13 13 11 11 V 9 9 E U R O - D O L L A R BONDS I 7 I I I I I I III 'I 7 12 9 SWITZERLAND 10 7 8 5 GERMANY 6 3 4 1 13 15 MONTHLY UNITED KINGDOM 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 CHART 10 INDUSTRIAL STOCK INDICES WEEKLY SERIES RATIO SCAJE TIO SCALE •69=100 1969=100 80 180 __ 160 140 - 120 - 100 - 80 JAPAN UNITED STATES y V r V / S m A JAj I I A - - / VJS/ f A - I I — 160 I I IIIMIIIIM I l l l l l l l l l l I I I I ! — 140 - 120 - 100 80 I 140 140 120 120 100 100 UNITED KINGDOM 80 SWITZERLAND 80 I I I I I I I I I I I 60 60 140 140 120 120 100 100 GERMANY FRANCE 80 80 60 llll 280 140 120 100 - v A (V . I 80 jVvWA i - NETHERLANDS I I I I I 1979 - 240 - 200 - 160 - 120 CANADA 60 45 60 I 90 1981 1979 1981 SERIES CHART 1, L A S T VALUE PLOTTED DATE VALUE NAME S P O T EXCHANGE R A T E S AND I N D I C E S WEEKLY A V E R A G E S , NOON BUYING RATES (U.S. CENTS) GERMAN MARK J A P A N E S E YEN DUTCH G U I L D E R O . K . POUND CANADIAN DOLLAR FBENCH FRANC S W I S S FRANC B E L G I A N FRANC ITALIAN LIRA INDICES, MARCH 1973 BASE R A T E S = WEIGHTED AVERAGE EXCHANGE VALUE I N D I C E S , ( G - 1 0 C O U N T R I E S P L U S SWITZERLAND) U . S . DOLLAR 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 S W I S S FRANC B E L G I A N FRANC ITALIAN LIRA SWEDISH KRONA 3 - M O N T H FORWARD EXCHANGE R A T E S , CANADIAN DOLLAR U . K . POUND GERMAN MARK FRENCH FRANC S W I S S FRANC DUTCH G U I L D E R J A P A N E S E YEN ITALIAN LIRA 25 25 25 25 25 25 25 25 25 44.57 0.45914 4 0 .,73 191.16 8 4 .. 5 8 1 7 ., 6 7 5 5 ..64 2 .. 6 5 9 2 2 0 .. 0 8 3 5 9 NOV. NOV. NOV. NOV. NOV. NOV. NOV. NOV. NOV. 25 25 25 25 25 25 25 25 25 125.39 120.22 116.92 77.32 84.30 79.61 179.01 104.79 47.48 25 25 25 25 25 25 25 25 25 25 25 104.46 136.58 127.72 122.62 78.19 86.33 8 0 . 58 188.59 108.91 46.55 82.88 100 GERMAN MARK J A P A N E S E YEN DUTCH G U I L D E R O . K . POUND CANADIAN DOLLAR FRENCH FRANC S W I S S FRANC B E L G I A N FRANC ITALIAN LIRA .CHART 2 . NOV. NOV. NOV. NOV. NOV. NOV. NOV. NOV. NOV. BAR 1 9 7 3 = 100 NOV. NOV. NOV. NOV. NOV. NOV. NOV. NOV. NOV. NOV. NOV. PREMIUM OR D I S C O U N T NOV. NOV. NOV. NOV. NOV. NOV. NOV. NOV. 25 25 25 25 25 25 25 25 -3. -2. 1. -4. 2. 1. 5. - 8, 29 19 85 19 57 12 23 49 SERIES CHART 3 . GOLD P R I C E U.S. . I N LONDON, DOLLARS PER L A S T VALUE PLOTTED DATE VALUE NAME AFTERNOON F I X I N G F I N E OUNCE EURO-DOLLAR D E P O S I T R A T E S : NOV. NOV. NOV. NOV. NOV. NOV. NOV. NOV. SEPT. NOV. 25 25 20 13 20 13 20 20 4 13 12.42 12.00 15.75 19.36 10.50 10.63 6.63 15.63 13.70 4.69 NOV. NOV. NOV. NOV. NOV. NOV. NOV. 25 25 25 25 25 25 25 11. 10. 7. 15. 14. 9. 12. NOV. NOV. NOV. NOV. NOV. NOV. <5 25 25 25 25 25 12.00 11.96 12.05 12.35 12.78 13.05 64 76 38 55 70 70 44 LONDON OVERNIGHT 7-DAY 1-MONTH 3-MONTH 6-MONTH 1-YEAR . 401.60 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 J A P A N E S E BANK LOANS & D I S C O U N T S CANADIAN F I N A N C E PAPER INTERBANK S T E R L I N G S W I S S INTERBANK LOAN WEIGHTED AVERAGE F O R E I G N I N T E R E S T RATE ( G - 1 0 C O U N T R I E S P L U S SWITZERLAND) CHART 6 . 25 CALL MONEY R A T E S 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 EUBO-DM JAPAN FRANCE NETHERLANDS E U R O - S W I S S FRANC CHART 5 . NOV. S E L E C T E D EURO-DOLLAR AND U . S . MONEY MARKET R A T E S 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. 25 25 25 12.00 12.42 -0.42 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. 25 25 25 12.35 11.64 0.71 SERIES CHART 8 . INTEREST L A S T VALUE PLOTTED DATE VALUE NAME ARBITRAGE, 3-MONTH FUNDS EURO-DOLLAR D E P O S I T INTERBANK S T E R L I N G ( L O N D O N ) , DIFFERENTIAL U . S . COMMERCIAL PAPER CANADIAN F I N A N C E P A P E R , DIFFERENTIAL COVERED 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 S W I S S I N T E R B A N K , COVERED DIFFERENTIAL CHART 9 . 12. 35 1 2 .. 4 3 - 0 .,08 NOV. NOV. NOV. 25 25 25 1 1 ., 2 6 1 2 ., 14 - 0 .,88 NOV. NOV. NOV. 25 25 25 12.35 1 2 ., 6 6 - 0 .,31 NOV. NOV. NOV. 25 25 25 1 2 ., 3 5 1 2 ., 3 3 0.02 NOV. NOV. SEPT. NOV. NOV. OCX. SEPT. NOV. 20 13 13.09 9.79 9.03 5.73 15.06 17.07 11.98 12.84 13 13 16 4 20 CORPORATE AAA BONDS EURO-DOLLAR BONDS CHART 1 0 . 25 25 25 LONG TERM GOVERMENT BOND Y I E L D S UNITED STATES GERMANY J A P A N (MONTHLY) SWITZERLAND CANADA FRANCE NETHERLANDS UNITED KINGDOM . NOV. NOV. NOV. SEPT. SEPT. 16.92 13.36 STOCK I N D I C E S UNITED STATES U N I T E D KINGDOM CANADA GERMANY SWITZERLAND NETHERLANDS FRANCE JAPAN NOV. NOV. NOV. NOV. NOV. NOV. NOV. NOV. 18 18 18 18 18 18 18 18 1 2 3 .,23 110.70 186.,01 9 5 .,25 8 2 .,20 7 4 .,23 87.24 150. 06 FEDERAL RESERVE statistical release H. 1 0 ( 5 1 2 ) NOVEMBER 3 0 , FOREIGN EXCHANGE RATES FOB THE WEEK ENDING NOVEMBER 2 7 , 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 ZEALAND NORWAY PORTUGAL SOUTH AFRICA SPAIN S R I LANKA SWEDEN SWITZERLAND UNITED KINGDOM MONETARY UNIT NOV. <RA3 DOLLAR SCHILLING FRANC DOLLAR KRONE MARKKA FRANC D . MARK RUPEE POUND LIRA YEN RINGGIT PESO GUILDER DOLLAR KRONE ESCUDO RAND PESETA RUPEE KRONA FRANC POUND 114.6800 6.28931 *2.64201 84.5380 13.8456 22.8545 17.5963 44.3853 10.9051 157.5000 0.08326 0.45956 44.4840 3.8790 40.5268 83.3000 17.2563 1.5420 103.1500 1.0330 4.8298 18.1818 55.3710 190.3700 23 NOV. 24 114.8200 6.37349 2.67237 84.7242 13.9762 23.0150 17.7525 44.8430 10.9529 159.3500 0.08373 0.46318 44.5434 3.8805 40.8998 83.5000 17.4140 1.5528 103.4200 1.0457 4.8298 18.2648 56.0067 191.8500 U . S . CENTS) NOV. 2 5 114.9700 6.40615 2.67523 84.7530 13-9762 2 3 . 1214 17.7494 44.8129 10.9170 159.0500 0.08432 0.46168 44.4939 3.8700 40.9663 83.5000 17.4064 1.5540 103.6500 1.0522 4.8298 18.2849 56.1798 192.8000 NOV. H 0 L I D A Y 26 NOV. 27 115.0700 6.39795 2.68240 84.9762 13.9860 23.1374 17.8859 45.1264 10.9769 160.2000 0.08389 0.46371 44.5038 3.8625 41.2371 83.6500 17.4520 1.5432 103.5000 1.0508 4.8532 18.3486 56.2588 195.6000
@FedFRASER