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5 - W O (516/517) f t D f « £ """ Selected Interest & Exchange Rates Weekly Series of Charts September 3, 1985 Prepared by the FINANCIAL MARKETS SECTION DIVISION OF INTERNATIONAL FINANCE 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 SCALE MARCH 1973=100 RATIO SCALE MARCH 1973=100 180 — FOREIGN CURRENCY PRICE OF U.S. DOLLAR JAPANESE YEN — — 160 140 120 100 ^ \ J - 80 240 CANADIAN DOLLAR SWISS FRANC — 200 160 140 120 100 160 — — GERMAN MARK 160 140 - 120 - 100 - 80 — / 140 DUTCH GUILDER - 100 - X I i y'V 60 - 50 - w r I 40 I 100 FRENCH FRANC - 70 - 60 ~ 50 I I I I I I — BELGIAN FRANC - - ^ \ s - — I I l ITALIAN LIRA — / | || 1983 A / — - I I I I I I I 11111111111 I I I I 1985 80 — I 100 50 70 - 70 70 I — U.K. POUND 80 I — 80 120 80 I I | I I | I II 11 | I1111111 I I " l 100 # - — I 70 120 1983 1985 CHART 2 3-MONTH FORWARD EXCHANGE RATES PREMIUM (+) OR (-) AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER ANNUM PERCENT PER ANNUM 6 24 CANADIAN DOLLAR — - ITALIAN LIRA - - - I I - I 24 12 — A U. K. POUND . - - - DUTCH GUILDER - \ — L , - 0 I I I I , 6 12 - / GERMAN MARK I I I - SWISS FRANC I 0 • 16 FRENCH FRANC 12 JAPANESE YEN 1983 1985 1983 1985 CHART 3 PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY U.S. DOLLARS PER FINE OUNCE U.S. DOLLARS PER FINE OUNCE 600 600 560 - 560 520 520 480 - - 480 - 440 12.5 Kg BARS AFTERNOON FIXING PRICE 440 - 400 400 360 - 360 - 320 - 320 280 - 280 240 240 1982 1983 1984 1985 CHART 4 CALL MONEY RATES WEEKLY SERIES PERCENT PER ANNUM PERCENT PER ANNUM 24 24 FRANCE - 20 — 16 - 12 - 8 U. S. FEDERAL FUNDS JAPAN 20 CANADA SWITZERLAND — - IV 16 12 - - I I , I I I I 20 - -< 16 - - 12 — 8 GERMANY — k W \ g • .A • . . - ww NETHERLANDS 4 " I 1983 1985 I I ill ii hill i II111111111 1983 1985 0 CHART 5 3-MONTH INTEREST RATES WEEKLY SERIES ANNUM PERCENT PER 16 18 14 16 12 CANADIAN FINANCE CO. PAPER U.S. CD'S 14 12 10 8 10 WEIGHTED AVERAGE FOREIGN RATE 6 8 16 12 14 GERMAN INTERBANK RATE U.K. INTERBANK STERLING 10 12 8 10 6 8 4 17 11 15 NETHERLANDS INTERBANK RATE FRENCH INTERBANK RATE 9 13 7 11 5 9 3 8 10 JAPANESE GENSAKIRATE 8 SWISS INTERBANK RATE 7 6 6 4 2 5 1983 1985 1983 1985 CHART 6 EURO-DOLLAR DEPOSIT RATES LONDON AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER ANNUM PERCENT PER ANNUM 24 24 - - 20 — 3-MONTH 16 OVERNIGHT — 12 — — I I I 7-DAY 6-MONTH 1-MONTH 1-YEAR 1983 1985 1983 1985 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 20 20 18 18 16 16 14 14 3-MONTH FEDERAL FUNDS E U R O - D O L L A R DEPOSITS D A S H E D LINE 12 12 10 10 v v v 90-DAY CD* S OVERNIGHT E U R O - D O L L A R DEPOSITS I I I I I I I I I I I I I l I I I I I I I I 11111111111111111111111 4 3 DIFFERENTIAL DIFFERENTIAL - w v y l — A A V W V z ^ - I I 11111111111 I 11111111111 1983 1 PERCENT ON D I F F E R E N T I A L S C A L E = 2 PERCENT ON RATE S C A L E 1985 I I 1983 I I I I I I I I I II I I I I I I I I I I I I 1985 CHART 8 INTEREST ARBITRAGE: 3-MONTH FUNDS DIFFERENTIAL: PLUS(+), INDICATES FAVOR DOLLAR ASSETS AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER AH NT PER ANNUM 22 18 CANADIAN FINANCE CO. PAPER, COVERED EURO-DOLLAR DEPOSITS 14 DASHED LINE 10 INTERBANK STERLING 6 COVERED LONDON U. S. COMMERCIAL PAPER i l l ii h i l i i 2 4 2 DIFFERENTIAL DIFFERENTIAL + 0 I I I II 2 1 1 1 22 18 14 SWISS INTERBANK (SF) COVERED INTERBANK DM COVERED FRANKFURT 10 EURO-DOLLAR DEPOSITS 6 EURO-DOLLAR DEPOSITS DASHED LINE DASHED LINE II I I 2 2 DIFFERENTIAL DIFFERENTIAL + 0 , A ~ v^v/wv\yvv^ 2 I 1983 1985 1 PERCENT ON D I F F E R E N T I A L S C A L E = 2 PERCENT ON RATE S C A L E I I I I 1983 I 11111111111 I I I I I I I I I I I 1985 CHART 9 LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES PERCENT PER ANNUM PERCENT PER ANNUM 19 19 UNITED STATES # I — f 11 • 11 ~~ \ r - - - i 7 i 15 - J Ya vukA - CANADA \ -wYv/ 15 I i I I 11111111111 i l l i i h i l i i I I I I I I 15 11 - - V I 7 I SWITZERLAND - UNITED KINGDOM I I I i i l l i h i l l i i l l ii h i l l i I 13 — 13 MONTHLY — 9 - - - — I 5 GERMANY - JAPAN I I I I 111 I I I h i 1111111111111 I I I l l l I I I 5 22 U. S. CORPORATE • MONTHLY - 18 - - Aaa BONDS — FRANCE - # 14 NETHERLANDS MONTHLY *• 10 g I I I I I 1983 • I l l h l h l h l iihihihi 1985 1983 9 1985 CHART 10 INDUSTRIAL STOCK INDICES W E E K L Y SERIES RATIO SCALE 1969=100 RATIO SCALE 1969=100 260 260 220 - 180 - 140 - - UNITED STATES — 220 - 180 - 140 UNITED KINGDOM /AWV __ J* - — - A N* 1 i 100 260 — 220 - r i i i / / NETHERLANDS 100 A I i ill i h i l l I i 100 260 - - - - (J FRANCE - / V V Kf - — 220 — 180 — 140 - 100 V - Y - I I j V AA/ - I — — 180 140 I I I I I I I I I I I I i 80 80 I I I I I I - I I i I i i ill i h i l t i i 220 220 180 - GERMANY „ 140 100 SWITZERLAND - I I V I N . X I I I 11111111111 I - 180 - 140 — 100 M I M I M I M 80 320 — CANADA - - /vV v V - 280 - 240 - 200 JAPAN - Jv 160 I 1983 1985 I I I I 1983 I 111 < 11 > 1111 120 1985 SERIES LAST VALUE PLOTTED DATE VALUE NAME CHART 1. SPOT EXCHANGE BATES AND INDICES WEEKLY AVERAGES, NOON BUYING RATES (U.S. CENTS) GERMAN MASK J A P A N E S E YEN DUTCH GUILDER U.K. POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC BELGIAN FRANC ITALIAN LIRA SWEDISH KRONA INDICES, HARCH AUG. AUG. AUG. AUG. AUG. AUG. AUG. AUG. AUG. AUG. 28 28 28 28 28 28 28 28 28 28 36. 15 0.42243 32. 12 140. 21 73. 65 11.84 44. 17 1.78475 0. 05378 12.11 AUG. AUG. AUG. AUG. AUG. AUG. AUG. AUG. AUG. 28 28 28 28 28 28 28 28 28 101.69 110.61 92.21 56.71 73.41 53.34 142. 09 70. 33 30.55 28 28 28 28 28 28 28 28 28 28 28 136. 45 136.70 147.22 119.11 70. 04 93. 28 65. 18 184.60 89.31 36.30 67.59 28 28 28 28 28 28 28 28 -1.04 -3.40 3.53 -3. 24 3. 37 2.23 1.66 -4.98 1973 BASE RATES = 100 G E R M A N MARK JAPANESE YEN DUTCH GUILDER U.K. POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC BELGIAN FRANC ITALIAN LIRA HEIGHTED AVERAGE EXCHANGE VALUE INDICES, HAH 1973 = (G-10 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 100 AUG. AUG. AUG. AUG. AUG. AUG. AUG. AUG. AUG. AUG. AUG. CHART 2. 3-MONTH FORWARD EXCHANGE RATES, PREMIUM OR DISCOUNT CANADIAN DOLLAR U.K. POUND GEBMAN MARK FRENCH FRANC SWISS FRANC DUTCH GUILDEB JAPANESE YEN ITALIAN L-IfiA AUG. AUG. AUG. AUG. AUG. AUG. AUG. AUG. SERIES NAME LAST VALUE PLOTTED DATE VALUE CHART 3. GOLD PRICE IN LONDON, AFTERNOON FIXING U.S. DOLLARS PER FINE OUNCE AUG. 28 336.81 CHART 4. CALL HONEY RATES 7.78 7. 82 AUG. AUG. AUG. AUG. AUG. AUG. AUG. AUG. AUG. 28 28 28 28 28 28 28 28 28 AUG. AUG. AUG. AUG. AUG. AUG. AUG. AUG. AUG. 28 28 28 28 28 28 28 28 28 7. 77 4.62 6.30 9. 13 11.50 4.67 9.71 5. 73 7. 80 AUG. AUG. AUG. AUG. AUG. AUG. 28 28 28 28 28 28 7.82 7. 84 7.86 7. 98 8. 14 8. 50 OVERNIGHT BUBO-DOLLAR DEPOSITS U.S. FEDEBAL FUNDS DIFFERENTIAL AUG. 28 AUG. 28 AUG. 28 7. 82 7. 78 05 0. 3-MONTH EURO-DOLLAR DEPOSIT BATE U.S. 90-DAY CD'S, SECONDARY MARKET DIFFERENTIAL AUG. 28 AUG. 28 AUG. 28 7. 98 7. 77 21 U.S. FEDERAL FUNDS OVERNIGHT EURO-DOLLAR DEPOSITS U.K. CANADA GERMANY JAPAN FRANCE NETHERLANDS SWITZERLAND 12. 16 8.97 4.8* 6. 16 9.60 5. 77 3.30 CHART 5. 3-MONTH INTEREST BATES U.S. 90-DAY CD'S, SECONDARY MARKET GERMAN INTERBANK LOAN JAPANESE GENSAKI RATE CANADIAN FINANCE PAPER INTERBANK STERLING SWISS INTERBANK LOAN FRENCH INTERBANK RATI NETHERLANDS INTERBANK RATE WEIGHTED AVERAGE FOREIGN INTEREST BATE |G-10 COUNTRIES PLUS SWITZERLAND) CHART 6. EURO-DOLLAR DEPOSIT RATES: LONDON OVERNIGHT 7-DAY 1—MONTH 3-BONTH 6-MONTH 1-YEAB CHART 7. SELECTED EURO-DOLLAR AND U.S. HONEY MARKET BATES 0. # SERIES NAME LAST VALUE PLOTTED DATE VALUE CHART 8, INTEREST ARBITRAGE, 3-MONTH FUNDS ' EURO-DOLLAR DEPOSIT INTERBANK STERLING (LONDON) , COVERED DIFFERENTIAL AUG. 2 8 AUG. 28 AUG. 28 U.S. COMMERCIAL PAPER CANADIAN FINANCE PAPER, COVERED DIFFERENTIAL AUG. 2 8 AUG. 28 AUG. 2 8 *>8 8.07 -0.38 EURO-DOLLAR DEPOSIT INTERBANK DM (FRANKFURT), COVERED DIFFERENTIAL AUG. 28 AUG. 28 AUG. 28 7.98 8.20 -0.22 EURO-DOLLAR DEPOSIT SWISS INTERBANK, COVERED DIFFERENTIAL AUG. 28 AUG. 28 AUG. 28 7.98 8.08 -0.10 AUG. 23 AUG. 23 JAN. 9 AUG. 9 AUG. 9 AUG. JUNE AUG. 23 10. 16 6. 28 6.29 4.84 10.92 11.61 7. 39 9. 88 JULY 10. 97 1'tt 8.00 -0.02 lm CHART 9. LONG TEHM GOVERMENT BOND YIELDS UNITED STATES GERMANY JAPAN (MONTHLY) SWITZERLAND CANADA FRANCE NETHERLANDS (MONTHLY) UNITED KINGDOM U.S. CORPORATE AAA BONDS CHART 10. STOCK INDICES UNITED STATES UNITED KINGDOM CANADA GERMANY SWITZERLAND NETHERLANDS FRANCE JAPAN AUG. AUG. AUG. AUG. AUG. AUG. AUG. AUG. 21 21 21 21 21 21 21 21 194. 23 217.26 275.68 206. 83 157.74 231.68 218.56 270.36 ^ D E R A L RESERVE statistical release AUGUST 30, H.10 (512) 1985 FOREIGN EXCHANGE RATES FOB T H E WEEK E N D I N G A U G U S T 30, 1985 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 rates in New York City for cable transfers payable in foreign currencies: -r COUNTRY •AUSTRALIA AUSTRIA BELGIUM BRAZIL CANADA CHINA,P.R. DENMARK FINLAND FRANCE GERMANY GREECE HONG KONG INDIA •IRELAND ISRAEL ITALY JAPAN MALAYSIA MEXICO NETHERLANDS •MEN Z E A L A N D NORWAY PHILIPPINES PORTUGAL SINGAPORE •SOOTH AFRICA SOOTH KOREA SPAIN SRI L A N K A SWEDEN SWITZERLAND TAIWAN THAILAND • U N I T E D KINGDOM VENEZUELA MEMO: iONITED STATES MONETARY UNIT AUG. DOLLAR SCHILLING FRANC CRUZEIRO DOLLAR YUAN KRONE MARKKA FRANC D. MARK DRACHMA DOLLAR RUPEE POUND SHEKEL LIRA YEN RINGGIT PESO GOILDBB DOLLAR KRONE PESO ESCUDO DOLLAR RAND WON PESETA RUPEE KRONA FRANC DOLLAR BAHT POUND BOLIVAR 70.25 19.480 56.200 NA 1.3578 2.9168 10.7025 5.9150 8.4660 2.7725 131.250 7.8005 11.9200 112.15 NA 1861.00 236.89 2.4615 339.0000 3.1200 53.300 8.2125 NA 166.200 2.2320 39.35 885.90 163.400 27.363 8.2775 2.2700 40.460 NA 140.73 NA DOLLAR 26 136.59 (CURRENCY U N I T S PER DOLLAR) AUG. 28 A U G . 27 A U G . 29 AUG. 30 69.90 19.610 56.500 6890.00 1.3613 2.9168 10.1700 5.9440 8.5200 2.7920 132.800 7.8045 11.8700 111.60 NA 1873.00 237.38 2.4680 339.5000 3.1390 53.250 8.2450 NA 167.500 2.2505 35.50 886.90 164.250 27.363 8.3100 2.2880 NA 26.840 139.30 NA 70.30 19.470 56.100 6920.00 1.3601 2.9168 10.0960 5.9050 8.4650 2.7720 131.550 7.8025 11.8800 112.33 NA 1872.00 237.00 2.4705 339.0000 3.1220 53.350 8.1980 NA 166.900 2.2500 NA 887.10 162.600 27.363 8.2660 2.2665 40.460 26.870 140. 15 NA 70.30 19.557 56.280 6940.00 1.3621 2.9168 10.1200 5.9250 8.4900 2.7785 132.200 7.8025 11.9000 111.80 NA 1867.00 237.12 2.4760 339.0000 3. 1300 53.900 8.2225 NA 167. 5 0 0 2.2580 NA 886.90 163.250 27.363 8.2890 2.2805 40.490 27.870 139.95 NA 70.15 19.753 56.880 6970.00 1.3659 2.9168 10.2000 5.9775 8.5875 2.8110 134.000 7.8045 11.9600 110.60 NA 1885.00 239.00 2.4760 338.0000 3. 1610 54.250 8.2550 NA 168.500 2.2600 NA 887.30 165.200 27.363 8.3250 2.3100 NA 26.880 139. 10 NA 137.39 136.73 136.97 138.20 •INDEX O F W E I G H T E D A V E R A G E E X C H A N G E V A L U E OF U.S. D O L L A R A G A I N S T C U R R E N C I E S OF O T H E R G - 1 1 C O U N T R I E S . M A R C H 1973 - 100. W E I G H T S A R B 1972-76 G L O B A L T R A D E OF EACH O F T H E 10 C O U N T R I E S . S E R I E S R E V I S E D AS OF A O G U S T 1978. F O B D E S C R I P T I O N AND RACK DATA, S E E " I N D E X O F T H E W E I G H T E D - A V E R A G E E X C H A N G E V A L U E OF T H E U . S . D O L L A R : R E V I S I O N " ON P A G E 7 0 0 O F T H E A U G U S T 1978 F E D E R A L R E S E R V E B U L L E T I N . • V A L U E IS U.S. C E N T S
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