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(5 1 6 / 5 1 7 )
Selected Interest
Exchange Rates
W eekly Series o f Charts
October 17, 1983
DIVISION OF
INTERNATIO NAL FINANCE
Prepared by the
FIN A N C IA L MARKETS
SECTION
BOARD OF GOVERNORS
FEDERAL RESERVE SYSTEM
Washington, D.C. 20551
Table o f Contents
TABLES
SUBSCRIPTION RATES:
1. LATEST FIGURES PLOTTED
Weekly $16.00 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
2. D A IL Y C E R T IF IE D SPOT
EXCHANGE RATES-H.10 RELEASE
CHARTS
1. SPOT EXCHANGE RATE INDICES
2. 3-M ONTH FORW ARD EXCHANGE RATES
3. GOLD PR ICE -LONDON
4. C ALL MO NEY RATES
5. 3-M ONTH INTEREST RATES
6. EURO D O LLAR DEPOSIT RATES
7. SELECTED EURO DOLLAR A ND
U.S. M O NEY M A RK ET RATES
8. INTEREST A RB ITRA G E: 3-M ONTH FUNDS
9. LONG-TERM G O V ER N M EN T BOND Y IE LD S
10. IN D U S T R IA L STOCK INDICES
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
RATIO SCALE
MARCH 1973=100
RATIO SCALE
MARCH 1973=100
160
140
-
120
—
FOREIGN CURRENCY
PRICE OF U.S. DOLLAR
-
-
100
I
80
I
I
111 n 111111
11111111111
120
100
-
80
-
60
”
CANADIAN DOLLAR
-
-------- ---------- _
,
|
|
l
l
l
11111111111
iiliiln lii
180
160
GERMAN MARK
—
140
120
100
—
i
i
i
I
I
I
11111111111
11111111111
120
100
80
60
50
45
80
70
60
50
40
30
1981
1983
1981
1983
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
4RS PER FINE OUNCE
U.S. DOLLARS 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
I i .1 I I I i I 1 i i
250
1980
1981
1982
iiIiiIiiIii
1983
250
CHART 4
CALL MONEY RATES
WEEKLY SERIES
28
24
24
20
20
16
16
12
8
12
8
4
4
0
24
24
20
20
16
16
12
12
8
8
4
4
+
+
0
24
20
20
16
16
12
0
12
8
8
4
0
4
1981
1983
1981
1983
CHART 5
3-MONTH INTEREST RATES
WEEKLY SERIES
NT PER AN N U M
P E R C E N T P E R Al'
22
24
18
20
14
16
10
12
6
20
8
16
16
12
12
8
8
4
12
16
8
12
8
4
4
0
1981
1983
1981
1983
CHART 6
EURO-DOLLAR DEPOSIT RATES Lo n d o n
AVERAGES FOR WEEK ENDING WEDNESDAY
PERCENT PER
24
24
20
20
16
16
12
12
8
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
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
18
14
10
6
3
2
Io +
1
1
2
3
4
1981
1 PERCENT ON DIFFERENTIAL SCALE = 2 PERCENT ON RATE SCALE
1983
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
20
12
4
2
+
0
2
4
28
20
12
4
2
+
0
2
1981
1 PERCENT
ON
D IF F E R E N T IA L
1983
SCALE
=
2
PERCENT
ON
RATE
SCALE
CHART 9
LONG-TERM GOVERNMENT BOND YIELDS
WEEKLY SERIES
19
19
15
15
11
11
7
7
15
9
11
5
7
1
13
13
9
9
5
5
22
22
U. S. CORPORATE
m o n thly
18
18
14
14
10
10
6
6
1981
1983
CHART 10
INDUSTRIAL STOCK INDICES
WEEKLY SERIES
RATIO SCALE
1969=100
RATIO SCALE
1969=100
1981
1983
1981
1983
S B aiES
LAST VALUE PLOTTED
DATE
VALUE
NAME
CHART 1. SPOT EXCHANGE BATES AHD I N D I C E S
WEEKLY AVERAGES,
NOOH BUYING BATES
(O.S. CENTS)
GERMAN MASK
JAPANESE YEN
DUTCH GUILDER
O.K. POUND
CANADIAN DOLLAS
FRENCH FRANC
SNISS FRANC
BELGIAN FRANC
ITALIAN LISA
INDICES,
OCT. 12
OCT. 12
CCf. 12
OCT. 12
OCT. 12
OCT. 12
OCT. 12
OCT. 12
OCT. 12
36.65
0.113031
34. #5
150.28
81.21
12.62
1*7.58
1-89670
0.06352
OCT.
OCX.
CCT.
OCT.
OCTOCT.
OCT.
CCT.
OCT.
12
32
12
12
12
12
12
12
12
108.71*
112.67
98.90
60.78
80.91*
56.86
153.06
74.71*
36.09
12
12
12
12
12
12
12
12
12
32
12
126.97
138.40
141.06
120.82
71-03
97.50
65.71
187.99
89.70
40.86
68.03
OCT. 12
OCT- 12
CCT. 12
OCT- 12
CCT- 12
OCT. 12
CCT. 12
OCT- 12
0.28
0.32
3.82
-5.63
5.67
3.51
3.02
-8.63
MARCH 3973 BASE RATES = 100
GERMAN MASK
J APANESE YEN
DUTCH GUILDER
O.K. POUND
C ANADIAN DOLLAR
FRENCH FBANC
SNISS FRANC
BELGIAN FRANC
ITALIAN LIBA
WEIGHTED AVERAGE EXCHANGE VALUE INDICES,
<G-10 C OUNTRIES PLUS SS1TZERLAND)
U.S. DOLLAR
GERMAN HARK
JAPA N E S E YEN
DUTCH GUILDER
O.K. POUND
CANADIAN DOLLAR
FRENCH FRANC
SWISS FRANC
BELGIAN FRANC
ITALIAN LIRA
SWEDISH KRONA
MAR 1973 = 100
OCT.
OCT.
OCT.
OCT.
CCTOCT.
OCT.
OCT.
CCT.
CCTOCT.
CHABT 2. 3-MONTH FORWARD EXCHANGE BATES, PREMIUM OB DISCOUNT
CANADIAN DOLLAR
O.K. POUND
GERMAN MARK
FRE N C H FRANC
SWISS FBANC
DUTCH GUILDER
JAPANESE YEN
ITALIAN LIRA
LAST VALUE PLOTXI
DATE
VALUE
SERIES NAME
CHART 3. GOLD PRICE IN LONDON, AFTERNOON FIXING
U.S. DOLLARS PER FINE OUNCE
OCT.
12
397.23
OCT.
OCT.
OCT.
SEPTOCT.
OCT.
OCT.
OCT.
JAN.
OCT.
12
12
7
9
7
14
7
7
1
14
9.46
9. 48
9-00
9.46
5.50
5.44
6.69
12.75
10.30
2.05
OCT. 12
OCX. 12
OCT. 12
QCf- 12
OCT. 12
OCT. 12
OCT. 12
9. 18
6.11
6.81
9.32
9.34
3.92
8.46
OCT. 12
OCX. 12
OCT- 12
OCT. 12
OCT. 12
OCT- 12
9.48
9.45
9.40
9.50
9.61
9.89
CHART 4. CALL HONEY BATES
U.S. FEDERAL FUNDS
OVERNIGHT EURO-DOLLAR DEPOSITS
U.K.
CANADA
GERMANY
EDRC-DM
JAPAN
FRANCE
NETHERLANDS
EURC-SHISS FRANC
CHART 5. 3-HON1H INTEREST RATES
U.S. 90-DAY CD'S, SECONDARY HARKET
GERMAN INTERBANK LOAN
JAPANESE FANK LCANS 6 DISCOUNTS
CANADIAN FINANCE PAPER
INTERBANK STERLING
SWISS I N T E R B A N K LOAN
WEIGHTED AVERAGE FOREIGN INTEREST RATE
{G-10 COUNTRIES PLUS SilTZERLAND)
C H A R T 6. E U R O - D O L L A R D E P O S I T RA TE S:
LONDON
OVERNIGHT
7-DAY
1-MONTH
3-MCNTH
6 - MONTH
1— YEAR
CHART 7. SELECTED EURO-DOLLAB AND U.S. HONEY HARKET RATES
OVERNIGHT EURO-COLLAR DEPOSITS
U.S. FEDERAL FUNDS
DIFFERENTIAL ADO. FOR RESERVE REQUIREHENTS
OCT.
GCT.
OCT.
12
12
12
9.48
9.46
0.02
3-HCNTH EURO-DOLLAR DEPOSIT R A T E
U.S. 90-DAY C D *S, SECONDARY HARKET
DIFFERENTIAL
OCT.
OCT.
OCT-
12
12
12
9.50
9.18
0-32
SERIES NAME
CHART
LAST VALUE SLOTTED
DATE
VALUE
- INTEREST ARBITRAGE, 3-MONTH FUNDS
EURO-DOLLAR DEPOSIT
INTERBANK STERLING (LONDON), COVERED
DIFFERENTIAL
OCT.
OCT.
OCT.
12
12
12
9.50
9.67
-0.17
U.S. COMMERCIAL PAPER
CANADIAN FINANCE PAPER, COVERED
DIFFERENTIAL
OCT.
OCT.
OCT.
12
12
12
8. 97
9.61
-0.64
EURC-DOILAfi DEPOSIT
INTERBANK DM (FRANKFURT), COVERED
DIFFERENTIAL
OCT. 12
OCT. 12
OCT. 12
9.50
9.99
-0.49
EURO-DOLLAR DEPOSIT
SWISS INTERBANK, COVERED
DIFFERENTIAL
OCT.
OCT.
OCT.
12
12
12
9.50
9.65
-0.15
OCT7
SEPT- 23
SEPT.
SEPT- 30
SEPT.
9
JULY
8
HAY
SEPT. 30
11.38
8.32
7.29
4.70
12.09
14.32
8-85
9.84
SEP1.
JULY
12-37
10.06
CHART 9. LONG TERM GOVERMENT BOND YIELDS
UNITED STATES
GERMANY
JAPAN (MONTHLY)
SWITZERLAND
CANADA
FRANCE
NETHERLANDS (MONTHLY)
UNITED KINGDOM
0, S. CORPORATE
AAA BONDS
EURO-DOLLAR BONDS
CHART 10.
STOCK INDICES
UNITED STATES
UNITED KINGDOM
CANADA
GERMANY
SWITZERLAND
NETHERLANDS
FRANCE
JAPAN
OCT.
OCT.
OCT.
OCT.
OCT.
OCT.
OCT.
OCT.
5
5
5
5
5
5
5
5
174.54
155.61
245-50
137.76
112.80
139-56
139.87
184.48
@FedFRASER