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(5 1 6 / 5 1 7 ) Selected Interest 8^ Exchange Rates W e e kly Series o f Charts September 8,1980 DIVISION OF IN TERNATIO NAL FINANCE Prepared by the FIN A N C IA L 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 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-DO LLAR DEPOSIT RATES 7. SELECTED EURO-DOLLAR AND U.S. M O N EY M A RK ET RATES 8. INTEREST ARB ITRA G E: 3-M ONTH FUNDS 9. LONG-TERM G O VER NM EN T BOND Y IE L D 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 R A T IO M ARCH R A T IO SCALE MARCH 1973=100 1978 1980 1978 1980 SCALE 1973=100 CHART 2 3-MONTH FORWARD EXCHANGE RATES PREMIUM (+) OR ( - ) AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER ANNUM PERCENT PER ANNUM + 0 24 1978 1980 1978 1980 CHART 3 PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY U .S . c U .S . D O L L A R S P E R F I N E L L A R S P E R F IN E O U N C E 800 800 750 750 700 700 650 650 600 600 550 550 500 500 450 450 400 400 350 350 300 300 250 250 200 200 150 150 100 100 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 0 12 8 4 8 + 0 4 4 0 1978 1980 1978 1980 CHART 5 3-MONTH INTEREST RATES WEEKLY SERIES P E R C E N T PER NT PER ANNUM 20 20 M 16 16 U. S. CD* S 12 12 8 8 WEIGHTED AVERAGE FOREIGN RATE 4 4 18 14 14 10 10 6 6 16 2 12 12 8 LOANS AND DISCOUNTS JAPANESE BANK 8 4 0 4 1978 1980 1978 1980 CHART 6 EURO-DOLLAR DEPOSIT RATES Lo n d o n AVERAGES FOR WEEK ENDING WEDNESDAY 20 20 16 16 12 12 8 8 4 4 20 20 16 16 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 E R C E N T PER ANN UM PER C E N T PER ANNUM 2 1 +O I 1 2 3 4 1 P E R C E N T ON D IF F E R E N T IA L S C A L E = 2 PERC ENT ON RATE SC A LE CHART 8 INTEREST ARBITRAGE: 3-M O NTH FUNDS DIFFERENTIAL: PLUS(+), INDICATES FAVOR DOLLAR ASSETS AVERAGES FOR WEEK ENDING WEDNESDAY P ER C E N T PER A NN UM P ER C E N T PER ANNUM 2 DIFFERENTIAL + 0 2 1978 1 P ER C E N T ON D IF F E R E N T IA L SCALE = 2 P E R C E N T ON RATE SCALE 1980 CHART 9 LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES P ER C E N T PER ENT P E R A N N U M 14 15 12 13 10 11 8 9 6 10 7 7 GERMANY 8 r - 6 4 5 3 I I I I I I i i l n l i i l n i i l n l i i l n 1 16 17 14 15 12 13 10 11 8 9 6 7 14 U. S. CORPORATE 13 m o n th ly 12 11 10 Aaa BONDS All rV A \ I \\ \ 9 8 7 6 5 1978 1980 CHART 10 INDUSTRIAL STOCK INDICES WEEKLY SERIES R A T IO SCALE 1969=100 R A T IO SCALE 1969=100 100 90 80 70 60 50 140 120 100 80 160 140 120 100 80 LAST VALUE PLOTTED DATE VALUE SERIES NAME CHART 1. SPOT EXCHANGE RATES AND INDICES WEEKLY AVERAGES, NOON BUYING RATES (U.S. CENTS) GERMAN MARK JAPANESE YEN DUTCH GUILDER U.K. POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC BELGIAN FRANC ITALIAN LIRA SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. 3 3 3 3 3 3 3 3 3 56.08 0.45993 51.48 240.46 86.45 24.12 60.99 3.48954 0.11769 SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. 3 3 3 3 3 3 3 3 3 157.75 120.42 147.79 97.26 86.16 108.71 196.20 137.51 66.86 3 3 3 3 3 3 3 3 3 3 3 85.47 148.80 107.22 133.06 84.61 74.56 95.63 176.16 122.77 56.75 93.91 3 3 3 3 3 3 3 3 1.05 -4.49 3.29 -0.12 6. 08 1.14 0.14 -15.77 INDICES, MARCH 1973 BASE RATES = 100 GERMAN MARK JAPANESE YEN DUTCH GUILDER U.K. POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC BELGIAN FRANC ITALIAN LIRA WEIGHTED AVERAGE EXCHANGE VALUE INDICES, (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 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 MARK FRENCH FRANC SWISS FRANC DUTCH GUILDER JAPANESE YEN ITALIAN LIRA SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. LAST VALUE PLOTTED DATE VALUE SERIES NAME C H A R T 3. GOLD PRICE IN LONDON, AFTERNOON FIXING U.S. DOLLARS PEP. FINE OUNCE SEPT. 3 634.41 SEPT. SEPT. AUG. AUG. AUG. AUG. AUG. AUG. JULY AUG. 3 3 29 22 29 29 29 29 25 29 10..47 10..11 17..25 9..30 8..90 8..59 11..56 11..25 10..05 4..27 SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. 3 3 3 3 3 3 3 10.93 8.88 11.44 10.57 16.61 5.90 11.47 SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. 3 3 3 3 3 3 10.11 10.41 10.98 11.90 12.24 12.26 CHART 4. CALL MONEY RATES U.S. FEDERAL FUNDS OVERNIGHT EURO-DOLLAR DEPOSITS U.K. 2-DAY LOCAL AUTHORITY DEPOSITS CANADA GERMANY EURO-DM JAPAN FRANCE NETHERLANDS EURO-SWISS FRANC CHART 5. 3-MONTH INTEREST RATES U.S. 90-DAY CD'S, SECONDARY MARKET GERMAN INTERBANK LOAN JAPANESE BANK LOANS & DISCOUNTS CANA D I A N FINANCE PAPER I N T E R B A N K STERLING SWISS INTERBANK LOAN WEIGHTED AVERAGE FOREIGN INTEREST RATE (G-10 COUNTRIES PLUS SWITZERLAND) CHART 6. EUR O-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 SEPT. SEPT. SEPT. 3 3 3 10.11 10.47 -0.36 3-MCNTH EURO-DOLLAR DEPOSIT RATE U.S. 90-DAY CD'S, SECONDARY MARKET DIFFERENTIAL SEPT. SEPT. SEPT. 3 3 3 11.90 10.93 0.97 SERIES NAME CHART 8. INTEREST ARBITRAGE, LAST VALUE PLOTTED DATE VALUE 3-MONTH FUNDS EURO-DOLLAR DEPOSIT INTERBANK STERLING (LONDON) , COVERED DIFFERENTIAL SEPT. SEPT. SEPT. 3 3 3 11.90 11.94 -C.04 U.S. COMMERCIAL PAPER CANADIAN FINANCE PAPER, COVERED DIFFERENTIAL SEPT. SEPT. SEPT. 3 3 3 10.61 11.66 -1.05 EURO-DOLLAR DEPOSIT INTERBANK DM (FRANKFURT), COVERED DIFFERENTIAL SEPT. SEPT. SEPT. 11.90 3 3 12.25 3 . -0.35 EURO-DOLLAR DEPOSIT SWISS INTERBANK, COVERED DIFFERENTIAL SEPT. SEPT. SEPT. 3 3 3 11.90 12.07 -0.17 AUG. AUG. JULY AUG. AUG. JUNE JULY AUG. 29 22 11.59 7.84 8.88 4.59 12.42 13.34 9.09 11.32 CHART 9. LONG TERM GOVERMENT BOND YIELDS UNITED STATES GERMANY JAPAN (MONTHLY) SWITZERLAND CANADA FRANCE NETHERLANDS UNITED KINGDOM 8 22 13 25 22 U.S. CORPORATE AAA BONDS EURO-DM BONDS EURC-DOLLAP. BONDS 10.58 6.63 10.39 JUNE DEC. MAY CHART 10. INDUSTRIAL STOCK INDICES UNITED STATES JAPAN CANADA FRANCE UNITED KINGDOM SWITZERLAND GERMANY AUG. AUG. DEC. AUG. AUG. AUG. AUG. 29 29 29 1 29 29 22 1 30..96 316..73 113..81 1 46..90 1 17..08 77..52 96..82
@FedFRASER