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(516/517) Selected Interest Excharge Rates W eekly Series o f Charts October 14,1980 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 M A R K E T S S E C T IO N BOARD O F GOVERNORS 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 Weekly $15.00 per year or $.40 each in the United States, its possessions, Canada, and Mexico; 10 or 2. D A IL Y C ER TIFIE D SPOT EXCHANGE RATES-H.10 RELEASE CHARTS 1. SPOT EXCHANGE RATE INDICES 2. 3-M ONTH FORWARD EXCHANGE RATES 3. GO LD PR IC E-LO N DO N 4. C A LL M O NEY RATES 5. 3-M ONTH INTEREST RATES 6. EURO DOLLAR DEPOSIT RATES 7. SELECTED EURO DOLLAR AND U.S. MONEY MARKET RATES 8. INTEREST ARBITRAGE: 3-M ONTH FUNDS 9. LONG-TERM G O VER NM EN T BOND Y IE LD S 10. IN D U S T R IA L STOCK INDICES 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. 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 MARCH R A T IO SCALE M ARCH 1973=100 1978 1980 1978 1980 SCALE 1973=100 CHART 2 3-MONTH FORWARD EXCHANGE RATES PREMIUM (+) OR ( - ) AVERAGES FOR WEEK ENDING WEDNESDAY 6 + 0 + 0 24 6 6 6 ' + 0 + 0 6 6 12 1 2 18 12 12 6 6 + 0 0 6 1 2 + 0 6 6 + 0 12 6 1978 1980 1978 1980 CHART 3 PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY U .S . c 1 L A R S P E R F IN E O U N C E U .S . D O L L A R S P E R F IN E O U N C E SOO 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 500 500 450 450 400 400 350 350 300 300 250 250 200 200 150 150 100 100 1977 1978 1979 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 0 12 4 8 0 12 4 8 + 0 4 4 0 1978 1980 1978 1980 CHART 5 3-MONTH INTEREST RATES WEEKLY SERIES :n t per P E R C E N T P E R Ah annum 20 20 16 16 U. S. CD’ S 12 12 8 8 4 4 18 t4 10 14 CANADIAN FINANCE CO. PAPER 10 6 6 2 12 16 8 12 8 4 0 4 1978 1980 CHART 6 EURO-DOLLAR DEPOSIT RATES London AVERAGES FOR WEEK ENDING WEDNESDAY P E R C E N T P E R AN E NT P E R A N N U M 20 20 T6 16 t2 12 8 8 4 4 20 20 16 16 7-D AY 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 P ER C EN T PER ANNUM P ER C E N T PER ANNUM 2 Io+ 1 1 2 3 4 1 P ER C EN T ON D IF F E R E N TIA L S C A L E = 2 PER CEN T ON RATE S C A LE 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 P E R AN N T PER A NN UM 20 20 16 16 12 12 8 8 4 4 0 4 0 2 2 + 0 + 0 2 2 20 20 16 16 1 2 1 2 8 8 4 4 2 2 4 DIFFERENTIAL DIFFERENTIAL + 0 2 11111 lLI In J .J --L L 1978 1980 1 PERC ENT ON D IF F E R E N T IA L S C A LE = 2 PERCENT ON RATE SC ALE + 0 1978 2 1980 CHART 9 LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES 14 15 12 1$ 10 1 1 8 9 6 10 7 8 5 6 3 4 1 7 16 17 1 4 15 12 13 10 1 1 8 9 6 7 14 O. S. CORPORATE 13 m o n th ly 12 1 1 10 9 8 7 6 5 1978 1980 1978 1980 CHART 10 INDUSTRIAL STOCK INDICES WEEKLY SERIES R A T IO 1969= 140 120 100 80 R A T IO SCALE 1969=100 100 400 - 360 JAPAN 320 90 80 280 70 240 60 200 l I l I I I iiliiliiln i i l 11111111. 50 140 140 CANADA 120 D IS C O N T IN U E D S E R IE S 120 100 100 80 80 iiliiliiln IL 160 160 FRANCE GENERAL INDEX 140 140 120 120 100 100 80 80 1978 1980 LAST VALUE PLOTTED DATE VALUE SERIES NAME CHART 1. SECT EXCHANGE RATES AND INDICES WEEKLY AVERAGES, NCON BUYING RATES (U.S. CENTS) GERMAN MARK JAPANESE YEN EUTCH GUILDER C.K. POUND CANADIAN DOLLAR ERBHCH FRANC SWISS FRANC BELGIAN FRANC ITALIAN LIRA OCT. OCT. OCT. OCT. OCT. OCT. OCT. OCT. OCT. 8 8 8 8 8 8 8 8 8 55.37 0.48038 50.93 239.15 85.58 23.86 60.97 3.44924 0.11630 OCT. OCT. OCT. OCT. OCT. OCT. OCT. OCT. OCT. 8 8 8 8 8 8 8 8 8 155.75 125.78 146.22 96.73 85.30 107.53 196.15 135.92 66.07 8 8 8 8 8 8 8 8 8 8 8 85.68 146.88 112.82 131.82 84.28 73.90 94.69 176.46 121.52 56.15 94.09 8 8 8 8 8 8 8 8 1.69 -2.01 4.48 1.00 7.77 2.92 2.28 -10.57 INDICES, MARCH 1973 BASE RATES * 100 GERMAN MARK JAPANESE YEN EUTCH GUILDER U.K. POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC BELGIAN FRANC ITALIAN LIRA WEIGHTED AVERAGE EXCHANGE VALUE INDICES, MAR 1973 = 100 (G-10 COUNTRIES PLUS SWITZERLAND) U.S. DOLLAR GERMAN MARK JAPANESE YEN EUTCH GUILDER U.K. POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC BELGIAN FRANC ITALIAN LIRA SWEDISH KRONA OCT. OCT. OCT. OCT. OCT. OCT. OCT. OCT. OCT. OCT. OCT. 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 OCT. OCT. OCT. OCT. OCT. OCT. OCT. OCT. SERIES NAME LAST VALUE PLOTTED DATE VALUE CHART 3. GCID PRICE IN LONDON, AFTERNOON FIXING D.S. DOLLARS PER FINE OUNCE OCT. 8 671.58 OCT. OCT. OCT. OCT. OCT. SEPT. OCT. OCT. SEPT. SEPT. 8 8 3 3 3 19 3 3 12 19 12..59 12..92 16..00 10..48 8..95 8..43 11..38 11..25 10..30 2..95 OCT. OCT. OCT. OCT. OCT. OCT. OCT. 8 8 8 8 8 8 8 12.52 8.98 11.42 11.57 15.55 5.38 11.53 OCT. OCT. OCT. OCT. OCT. OCT. 8 8 8 8 8 8 12.92 12.38 12.94 13.03 13.05 12.90 C HART 4. CALL HONEY RATES U.S. FEDERAL FUNDS OVERNIGHT EURO-DOLLAR DEPOSITS U.K. 2-DAY LOCAL AUTHORITY DEPOSITS CANADA GERMANY EURC-DM JAPAN FRANCE NETHERLANDS EURO-SWISS FRANC CHART 5. 3-HONTH INTEREST RATES U.S. 90-DAY CD'S, SECONDARY HARKET GERHAN INTERBANK LOAN JAPANESE BANK LOANS & DISCOUNTS CANADIAN FINANCE PAPER I N TERBANK STERLING SWISS INTERBANK LOAN WEIGHTED AVERAGE IOREIGN INTEREST RATE (G-10 COUNTRIES PLUS SWITZERLAND) CHART 6. EURO-DOLLAR DEPOSIT RATES: LONDON OVERNIGHT 7-DAY 1-MCNTH 3-MCNTH 6-MCNTH 1-YEAR CHART 7. SELECTED EURO-DOLLAR AND U.S. MONEY MARKET RATES OVERNIGHT EURO-DOLLAR DEPOSITS U.S. FEDERAL FUNDS DIFFERENTIAL ADJ. FOR RESERVE REQUIREMENTS OCT. OCT. OCT. 8 8 8 12.92 12.59 0.33 3-MCNTH EURO-DOLLAR DEPOSIT RATE U.S. 90-DAY CD'S, SECONDARY MARKET DIFFERENTIAL OCT. OCT. OCT. 8 8 8 13.03 12.52 0.51 SERIES NAME LAST VALUE PLOTTED DATE VALUE CHARI 8. INTEREST ARBITRAGE, 3-MCNTH FUNDS EURC-DCLLAR DEPOSIT INTERBANK STERLING (LONDON), COVERED DIFFERENTIAL OCT. OCT. OCT. 8 8 8 13..03 13..46 -0..44 D.S. COMMERCIAL PAPER CANADIAN FINANCE PAPER, COVERED DIFFERENTIAL OCT. OCT. OCT. 8 8 8 12..18 13..31 -1..13 EURC-DCLLAR DEPOSIT INTERBANK DM (FRANKFURT) , COVERED DIFFERENTIAL OCT. OCT. OCT. 8 8 8 13..03 13..56 -0..54 EURC-DOLLAB DEPOSIT SWISS INTERBANK, COVERED DIFFERENTIAL OCT. OCT. OCT. 8 8 8 13.,03 13..25 -0.,23 OCT. SEPT. SEPT. SEPT. OCT. JULY SEPT. OCT. 3 26 11.79 8.15 9.22 4.90 12.93 13.35 9.99 10.93 CHART 9. LCNG TERM G O VERMENT BOND YIELDS UNITED STATES GERMANY JAPAN (MONTHLY) SWITZERLAND CANADA FRANCE NETHERLANDS UNITED KINGDOM 19 3 11 12 3 0. S. CORPORATE AAA BONDS EURC-DM BONDS EURG-DOLLAR BONDS SEPT. DEC. AUG. 12.02 6.63 10.60 C H A RT 10. INDUSTRIAL STOCK INDICES UNITED STATES JAPAN CANADA FRANCE UNITED KINGDOM SWITZERLAND GERMANY OCT. 3 OCT. 3 DEC. 29 SEPT. 19 3 OCT. OCT. 3 SEPT. 26 135.32 324.44 113.81 153.60 115.10 76.64 95.31
@FedFRASER