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(5 1 6 / 5 1 7 )
Selected Interest
Exchange Rates
W eekly Series o f Charts
September 26,1983
DIVISION OF
INTERNATIO NAL FINANCE
Prepared by the
F IN 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 $15.00 per year or $.40 each in the United
2. D A IL Y C E R T IF IE D SPOT
EXCHANGE RATES--
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
H.10 RELEASE
CHARTS
1. SPOT EXCHANGE RATE INDICES
2. 3-M ONTH FORW ARD EXCHANGE RATES
3. GOLD PRICE -LONDON
4. C ALL M O NEY RATES
5. 3-M ONTH INTEREST RATES
6. EURO-DOLLAR DEPOSIT RATES
7. SELECTED EURO-DOLLAR AND
U.S. M O NEY M A RK ET RATES
8. INTEREST A R B 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
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 S CALE
MARCH 1973=100
RATIO SC A LE
MARCH 1973=100
160
140
120
100
80
240
200
160
120
180
180
160
160
140
140
120
120
100
100
120
100
80
60
50
45
80
70
60
50
40
1981
1983
1981
1983
CHART 2
3-M ONTH FORWARD EXCHANGE RATES
PREMIUM (♦) OR < -)
AVERAGES FOR WEEK ENDING WEDNESDAY
1981
1983
1981
1983
C h APT 3
PRICE OF GOLD IN LONDON
AVERAGES FOR WEEK ENDING WEDNESDAY
u .s . c
PER FINE OUNCE
U.S. DOLLARS PER FINE
>JNCE
800
800
750
750
700
700
650
650
600
600
550
550
500
500
450
450
400
400
350
350
300
300
250
250
1980
1981
1982
1983
CHART 4
CALL MONEY RATES
WEEKLY SERIES
PERCENT PER ANNUM
PERCENT PER ANNUM
1981
1983
1981
1983
CHART 5
3-MONTH INTEREST RATES
WEEKLY SERIES
'IT PER ANNUM
PERCENT PER
22
24
18
20
14
16
10
12
6
20
8
16
16
12
8
12
8
4
16
12
12
8
8
4
4
0
1981
1983
CHART 6
EURO-DOLLAR DEPOSIT RATES
Lo n d o n
AVERAGES FOR WEEK ENDING WEDNESDAY
PERCENT PER
ENT PER ANNUM
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
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 ER C EN T PER ANNUM
PER CENT PER ANNUM
26
22
18
14
10
6
3
2
1
+oi
1
2
3
4
1983
1981
1 PERCENT
ON
D IF F E R E N T IA L
SCALE
=
2
PERCENT
ON
RATE
SCALE
1981
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
2
1981
1983
1 PERC ENT ON D IF F E R E N T IA L SC A LE = 2 PERCENT ON RATE SC ALE
CHART 9
LONG-TERM GOVERNMENT BOND YIELDS
WEEKLY SERIES
PER ANNUM
PERCENT PER
19
19
UNITED STATES
15
15
11
11
7
7
15
9
11
5
7
1
13
13
MONTHLY
9
9
5
5
22
U. S. CORPORATE
22
m o n th ly
18
18
Aaa BONDS
14
14
10
10
6
6
1981
1983
CHART 10
INDUSTRIAL STOCK INDICES
WEEKLY SERIES
RATIO S CALE
1969=100
RATIO SCALE
1969=100
1981
1983
1981
1983
LAST VALOE PLOTTED
DATE
VALUE
SEBIES NAME
CHART 1* SPOT EXCHANGE RATES AND INDICES
WEEKLY AVERAGES, MOON BUYING BATES
{U. S. CENTS)
GERMAN HARK
JAPANESE YEN
DUTCH GUILDER
U. K. POUND
CAN A D I A N DOLLAR
TRENCH FRANC
SWISS FRANC
BELGIAN FRANC
ITALIAN LIRA
INDICES,
MARCH
SEPT.
SEPT.
SEPT.
SEPT.
SEPT.
SEPT.
SEPT.
SEPT.
SEPT.
21
21
21
21
21
21
21
21
21
37.48
0.41 165
33.50
150.44
81. 10
12.41
46.23
1.85702
0. 06247
SEPT.
SEPT.
SEPT.
SEPT.
SEPT.
SEPT.
SEPT.
SEPT.
SEPT.
21
21
21
21
21
21
21
21
21
105.44
107.78
96. 18
60.85
80.83
55.91
148.72
73. 18
35.49
21
21
21
21
21
21
21
21
21
21
21
129.72
136. 12
136.79
119.40
72.44
99. 13
65.70
185.71
89.30
40. 87
68. 18
21
21
21
21
21
21
21
21
0.61
0.35
4. 15
-4.62
5.42
3.61
3.01
-7.62
1973 BASE RATES = 100
GERBAN MARK
JAPANESE YEN
DUTCH GUILDER
U.K. POUND
CANADIAN DOLLAR
FRENCH FRANC
SWISS FRANC
BELGIAN FRANC
ITALIAN LIRA
WEIGHTED AVERAGE EXCHANGE VALUE INDICES,
4G-10 COUNTRIES PLUS SWITZERLAND)
U.S. DOLLAR
GERMAN MARK
JAPANESE YEN
DUTCH GUILDER
U.K. POUND
CANADIAN DOLLAR
FRENCH FRANC
SWISS FRANC
BELGIAN FBANC
ITALIAN LIRA
SWEDISH KRONA
MAR 1973 = 100
SEPT.
SEPT.
SEPT.
SEPT.
SEPT.
SEPT.
SEPT.
SEPT.
SEPT.
SEPT.
SEPT.
CHART 2. 3-MONTH FORWARD EXCHANGE RATES, PREMIUM OR DISCOUNT
CANADIAN DOLLAR
U.K. POUND
GERMAN HARK
FRENCH FRANC
SWISS FRANC
DUTCH GUILDER
JAPANESE YEN
ITALIAN LIRA
SEPT.
SEPT.
SEPT.
SEPT.
SEPT.
SEPT.
SEPT.
SEPT.
SERIES BABE
LAST VALUE PLOTTED
DATE
VALUE
CHART 3. GOLD PRICE IN LONDON, AFTERNOON FIXING
U.S* DOLLARS PER FINE OUNCE
SEPT. 21
409.32
CHABT 4. CALL BONE* RATES
SEPT.
SEPT.
SEPT.
SEPT.
SEPT.
SEPT.
SEPT.
SEPT.
JAN.
SEPT.
21
21
16
9
16
23
16
16
1
23
9.48
9.44
9.75
9.46
5.50
5.35
6.38
12-81
10.30
2.02
SEPT.
SEPT.
SEPT.
SEPT.
SEPT.
SEPT.
SEPT.
21
21
14
21
21
21
21
9.42
5.81
6.78
9.37
9.65
4.40
8.45
SEPT.
SEPT.
SEPT.
SEPT.
SEPT.
SEPT.
21
21
21
21
21
21
9.44
9.54
9.74
9.85
10.05
10.39
OVERSIGHT EURO-BCLLAR DEPOSITS
U.S. FECERAL FUNDS
DIFFERENTIAL ADJ. FOR RESERVE REQUIREMENTS
SEPT. 21
SEPT. 21
SEPT. 21
9.44
9.48
-0.04
3-MONTH EURO-DOLLAR DEPOSIT RATE
U.S. 90-DAY C D ’S, SECONDARY MARKET
DIFFERENTIAL
SEPT.
SEPT.
SEPT.
U.S. FEDERAL FUNDS
OVERNIGHT EURO-DOLLAR DEPOSITS
U.K.
CANADA
GERMANY
EURC-DM
JAPAN
FRANCE
NETHERLANDS
EURO-SWISS FRANC
CHART 5. 3— MONTH INTEREST RATES
U-S, 90-DAY C D ’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 SWITZERLAND)
CHART
i. EURO-DOLLAR DEPOSIT RATES: LONDON
OVERNIGHT
7-DAY
1-MONTH
3 - MGNTH
6-MONTH
1-YEAR
CHART 7. SELECTED EURO-DOLLAR AND U.S. HONEY MARKET R ATES
21
21
21
9.85
9.42
0.43
SERIES NAME
INTEREST ARBITRAGE, 3-MGNTH FUNDS
CHABT
CHABT
LAST VALUE PLOTTED
DATE
VALUE
EURO-DOLLAR DEPOSIT
INTEBBANK STERLING (LONDON) , COVERED
DIFFERENTIAL
SEPT. 21
SEPT. 21
SEPT. 21
9.85
10.00
-0. 15
U.S. COMMERCIAL PAPER
CANADIAN FINANCE PAPER, COVERED
DIFFERENTIAL
SEPT. 21
SEPT. 2 t
SEPT. 21
9.28
10.00
-0.72
EURO-DOLLAR DEPOSIT
INTERBANK DM (FRANKFURT), COVERED
DIFFERENTIAL
SEPT. 21
SEPT. 21
SEPT. 21
9.85
10. 02
-0.17
EURO-DOLLAR DEPOSIT
SHISS INTERBANK, COVERED
DIFFERENTIAL
SEPT. 21
SEPT. 21
SEPT. 21
9.85
9.88
-0.03
SEPT. 16
SEPT.
9
AUG.
SEPT.
2
9
SEPT.
JULY 8
FEB.
SEPT. 16
11.69
8.38
7. 55
<1.73
12.09
14*32
8.20
10.02
AUG.
APRIL
12.51
9.90
>. LONG TERN GOVERMENT BOND YIELDS
UNITED STATES
GERMANY
JAPAN (MONTHLY)
SWITZERLAND
CANADA
FRANCE
NETHERLANDS (MONTHLY)
UNITED KINGDOM
U. i. COBPOBATE
AAA BONDS
EUBO-DOLLAB BONDS
CHABT
0.
STOCK INDICES
UNITED STATES
UNITED KINGDOM
CANADA
GERMANY
SWITZERLAND
NETHERLANDS
FRANCE
JAPtN
SEPT.
SEPT.
SEPT.
SEPT.
SEPT.
SEPT.
SEPT.
SEPT.
14
14
14
14
14
14
14
14
172.27
153.85
254.43
132.36
112.80
133.80
133.83
180.86
@FedFRASER