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Selected Interest & Exchange Rates Weekly Series of Charts
January 19, 1981
Prepared by the FINANCIAL MARKETS SECTION
DIVISION OF INTERNATIONAL FINANCE
BOARD OF GOVERNORS FEDERAL RESERVE SYSTEM Washington, D C. 20551
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Table of Contents
TABLES
1. LATEST FIGURES PLOTTED 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 a INTEREST ARBITRAGE: 3-MONTH FUNDS
9. LONG-TERM GOVERNMENT BOND YIELDS 10. INDUSTRIAL STOCK INDICES
SUBSCRIPTION RATES:
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, 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.
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RATIO SCALE MARCH 1973=100
160
140
120
100
100
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
CANADIAN DOLLAR
FOREIGN CURRENCY PRICE OF U.S. DOLLAR
I I I II I II I I I
FRENCH FRANC
- 100
GERMAN MARK
160
140 - AA V JAPANESE YEN
-
120 fyf
100 - -
80 I I I I I I ,7 SWISS FRANC
DUTCH GUILDER
BELGIAN FRANC
11
U.K. POUND
- ITALIAN LIRA -
I
i i i
I
I I I
a . ^ -
- 200
160
120
160
140
120
100
100
80
60
1979 1981 1979 1981
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
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6
+ 0
6
6
0
6
12
12
6
0
12
6
0
6
24
0
24
12
6
0
6 18
12
6
0
12
6
0
6
CHART 2
3-MONTH FORWARD EXCHANGE RATES PREMIUM (+) OR (-)
AVERAGES FOR WEEK ENDING WEDNESDAY :ENT PER ANNUM PERCENT PER A t
CANADIAN DOLLAR
U. K. POUND
GERMAN MARK
FRENCH FRANC
I I I I I I I I I I
- ITALIAN LIRA -
I I I I I I :,y
DUTCH GUILDER
- Kj SWISS FRANC 1
f -
I I I I I I
-
JAPANESE YEN
1979 1981 1979 1981
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
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U.S. D
BOO
750
700
650
600
550
500
450
400
350
300
250
200
150
100
UNCE
800
750
700
650
600
550
500
450
400
350
300
250
200
150
100
CHART 3
PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY
PER FINE OUNCE U.S. DOLLARS PER FINE
12.5 Kg BARS AFTERNOON FIXING PRICE
1978 1979 1980 1981
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28
24
20
16
12
8
4
24
20
16
12
8
4
+ 0
16
12
8
4
0
28
24
20
16
12
8
4
24
20
16
12
8
4
+ 0
16
12
8
4
0
CHART 4
CALL MONEY RATES WEEKLY SERIES
:NT PER ANNUM PERCENT PER A!
U. S. FEDERAL FUNDS U. K. 2-DAY LOCAL AUTHORITY
LLLLLLLLLLL
EURO-SWISS FRANC CANADA
NETHERLANDS
FRANCE
GERMANY
JAPAN EURO-DM
1979 1981 1979 1981
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
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20
16
12
8
4 22
18
14
10
6 16
12
8
4
JUM
20
16
12
a
4 t 6
12
8
4
0
12
8
4
0
CHART 5
3-MONfH INTEREST RATES WEEKLY SERES
NT PER ANNUM PERCENT PER A^
U.S. CD'S
UK. INTERBANK STERLING
WEIGHTED AVERAGE FOREIGN RATE
CANADIAN FINANCE CO. PAPER GERMAN INTERBANK RATE
LOANS AND DISCOUNTS JAPANESE BANK
SWISS INTERBANK RATE
viVi 1979 1981 1979 1981
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24
20
16
12
8
4 24
20
16
12
8
4 24
20
16
12
8
4
CHART 6
EURO-DOLLAR DEPOSIT RATES LONDON AVERAGES FOR WEEK ENDING WEDNESDAY
ENT PER ANNUM PERCENT PER AH
OVERNIGHT 3-MONTH
i U r n 11 i
6-MONTH 7-DAY
1-MONTH
-
1-YEAR
-
I I I I I I
-
1979 1981 1979 1981
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
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PERCENT PER ANNUM
26
CHART 7
SELECTED EURO-DOLLAR AND U. S. MONEY MARKET RATES DIFFERENTIAL: PLUS(+), FAVORS BORROWING IN U. S.
AVERAGES FOR WEEK ENDING WEDNESDAY
FEDERAL FUNDS
OVERNIGHT E U R O - D O L L A R DEPOSITS
I I I I I I I
DIFFERENTIAL
3-MONTH E U R O - D O L L A R DEPOSITS
90-DAY CO'S
J _ J ,1 I i l l 1 1 1 1 1
PERCENT PER ANNUM
26
m
1979 1 PERCENT ON D IFFERENTIAL S C A L E = 2 PERCENT ON RATE S C A L E
1961
-DIFFERENTIAL >
-
I I I I I I I I I I I I I I I I I I I I I I I I I I I I 1979 1981
18
%S
10
6 2
o
1
2
3
4
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CHART 8
INTEREST ARBITRAGE: 3-MONTH FUNDS DIFFERENTIAL: PLUS(+), INDICATES FAVOR DOLLAR ASSETS
AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER ANNUM
28
20
12
EURO-DOLLAR DEPOSITS
INTERBANK STERLING COVERED LONDON
20
12
INTERBANK DM COVERED FRANKFURT
EURO-DOLLAR DEPOSITS
I I l i
PERCENT PER ANNUM
DIFFERENTIAL
CANADIAN FINANCE CO. PAPER, COVERED k
n fl if {
fr' //
I I I
j w l /
. r ~ y U. S. COMMERCIAL PAPER
i i i 111111111111
- 12
' I DIFFER ENTIAL
1 1 1 1 1 1 h I n f i l l n
4 2
l l l l l l l l
DIFFERENTIAL
EURO-DOLLAR DEPOSITS
DIFFERENTIAL
1979 1981 1979 1981 1 PERCENT ON D IFFERENTIAL S C A L E = 2 PERCENT ON RATE S C A L E
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PEP 15
13
11
9
7 10
8
6
4 16
14
12
10
8
6 14
12
10
8
6
15
13
11
9
7 7
5
3
1
17
15
13
11
9
7 13
11
9
7
5
CHART 9
LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES
ENT PER ANNUM PERCENT PER AL
UNITED STATES
GERMANY
FRANCE
NETHERLANDS
U. S. CORPORATE MONTHLY
Aaa BONDS
E U R O - D O L L A R BONDS
CANADA
I I I
-
SWITZERLAND -
I I i 11111111111 M l M l M l M
UNITED KINGDOM
MONTHLY
JAPAN
1979 1981 1979 1981
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
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RATIO 1969=
180
160
140
120
100
80 400
360
320
280
240
200 200 180
160
140
120
100
80
CHART 10
INDUSTRIAL STOCK INDICES WEEKLY SERES
CALE )0
RATIO 196
UNITED STATES
FRANCE G E N E R A L INDEX
GERMANY
SWITZERLAND
UNITED KINGDOM
1979 1981 1979 1981
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SERIES NAME LAST VALUE PLOTTED
DATE VALUE
CHART 1. SPOT EXCHANGE RATES AND INDICES
WEEKLY AVERAGES, NOON BUYING RATES (U.S. CENTS)
GERMAN MARK JAN. 14 50. .41 JAPANESE YEN JAN. 14 0. ,49254 DUTCH GUILDER JAN. 14 46. ,36 U.K. POUND JAN. 14 239. .72 CANADIAN DOLLAR JAN. 14 84. .08 FRENCH FRANC JAN. 14 21. ,79 SWISS FRANC JAN. 14 55. .59 BELGIAN FRANC JAN. 14 3. .13299 ITALIAN LIRA JAN. 14 0. .10611
INDICES, MARCH 1973 BASE RATES = 100
GERMAN MARK JAN. 14 141. .80 JAPANESE YEN JAN. 14 128. .96 DUTCH GUILDER JAN. 14 133. .09 U.K. POUND JAN. 14 96. .96 CANADIAN DOLLAR JAN. 14 83. .80 FRENCH FRANC JAN. 14 98. .20 SWISS FRANC JAN. 14 178. .83 BELGIAN FRANC JAN. 14 123. .46 ITALIAN LIRA JAN. 14 60. .28
WEIGHTED AVERAGE EXCHANGE VALUE INDICES, MAR 1973 = 100 (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
JAN. 14 90. 73 JAN. 14 138. 56 JAN. 14 122. 03 JAN. 14 125. 08 JAN. 14 88. 82 JAN. 14 76. 11 JAN. 14 89. 97 JAN. 14 168. 07 JAN. 14 115. 17 JAN. 14 53. 40 JAN. 14 92. 79
CHART 2. 3-MONTH FORWARD EXCHANGE
CANADIAN DOLLAR U.K. POUND GERMAN MARK FRENCH FRANC SWISS FRANC DUTCH GUILDER JAPANESE YEN ITALIAN LIRA
, PREMIUM OR DISCOUNT JAN. 14 1.16 JAN. 14 3.87 JAN. 14 8.94 JAN. 14 6.70 JAN. 14 12.62 JAN. 14 8.63 JAN. 14 9.45 JAN. 14 0.90
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SERIES NAME LAST Vft-LOE PLOTTED
DATE VALUE
CHART 3. GOLD PRICE IN LONDON, AFTERNOON FIXING
U.S. DOLLARS PER FINE OUNCE JAN. 14 566.75
. CALL MONEY PATES
U.S. FEDERAL FUNDS JAN. 14 19.64 OVERNIGHT EURO-DOLLAR DEPOSITS JAN. 14 20.34 U.K. 2-DAY LOCAL AUTHORITY DEPOSITS JAN. 9 13.75 CANADA JAN. 2 17.17 GERMANY JAN. 9 9.05 EURO-DM JAN. 2 8.92 JAPAN JAN. 9 8.75 FRANCE JAN. 9 10.75 NETHERLANDS DEC. 12 7.85 EURO-SWISS FRANC JAN. 2 3.88
CHART 5. 3-MONTH INTEREST RATES
U.S. 90-DAY CD'S, SECONDARY MARKET JAN. 14 17. 13 GERMAN INTERBANK LOAN JAN. 14 9. 39 JAPANESE BANK LOANS S DISCOUNTS JAN. 14 9. 04 CANADIAN FINANCE PAPER JAN. 14 16. 80 INTERBANK STERLING JAN. 14 14. 21 SWISS INTERBANK LOAN JAN. 14 5. 50 WEIGHTED AVERAGE FOREIGN INTEREST RATE JAN. 14 11. 36
(G-10 COUNTRIES PLUS SWITZERLAND)
CHAFT 6. EURO-DOLLAR DEPOSIT RATES: LONDON
OVERNIGHT JAN. 14 20.34 7-DAY JAN. 14 20.09 1-MONTH . JAN. 14 19.80 3-MONTH JAN. 14 18,06 6-MONTH JAN. 14 16.69 1-YEAR JAN. 14 15.29
CHART 7. SELECTED EURO-DOLLAR AND U.S. MONEY MARKET RATES
OVERNIGHT EURO-DOLLAR DEPOSITS JAN. 14 20. 34 U.S. FEDERAL FUNDS JAN. 14 19. 64 DIFFERENTIAL ADJ. FOR RESERVE REQUIREMENTS JAN. 14 0. 70 3-MONTH EURO-DOLLAR DEPOSIT RATE JAN. 14 18. 06 U.S. 90-DAY CD'S, SECONDARY MARKET JAN. 14 17. 19 DIFFERENTIAL JAN. 14 0. 87
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SERIES NAME LAST VALUE PLOTTED
DATE VALUE
CHJPT 9. INTEREST ARBITRAGE, 3-MONTH FUNDS EURO-DOLLAR DEPOSIT JAN. 14 18. .06 INTERBANK STERLING (LONDON) , COVERED JAN. 14 18. ,22 DIFFERENTIAL JAN. 14 -0. .16
U.S. COMMERCIAL PAPER JAN. 14 16. .69 CANADIAN FINANCE PAPER, COVERED JAN. 14 18.00 DIFFERENTIAL JAN. 14 -1. .32
EURO-DOLLAR DEPOSIT JAN. 14 18. .06 INTERBANK DM (FRANKFURT), COVERED JAN. 14 18. .54 DIFF3RENTIAL JAN. 14 -0. .47 EURO-DOLLAR DEPOSIT JAN. 14 18. .06 SWISS INTERBANK, COVERED JAN. 14 18. .29 DIFFERENTIAL JAN. 14 -0. .23
CHART 9. LONG TERM COVER MBNT BOND YIELDS
UNITED STATES JAN. 9 12. .31 GERMANY JAN. 2 9. .03 JAPAN (MONTHLY) NOV. 9. .52 SWITZERLAND DEC. 19 4. .73 CANADA JAN. 2 12. .67 FRANCE NOV. 14 14. .23 NETHERLANDS DEC. 12 10. .36 UNITED KINGDOM JAN. 9 11. .58
U.S. CORPORATE
AAA BONDS EURO-DM BONDS EURO-DOLLAR BONDS
NOV. 12.97 DEC. 6.63 OCT. 11.27
CHART 10. INDUSTRIAL STOCK INDICES
UNITED STATES JAN. 9 141. .62 JAPAN JAN. 9 331. .68 FRANCE DEC. 26 154. .30 UNITED KINGDOM JAN. 9 109. .62 SWITZERLAND JAN. 9 75. .99 GERMANY JAN. 9 95. .17
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FEDERAL RESERVE statistical release QL5*>" m
H. 10 (512) FOREIGN EXCHANGE RATES JANUARY 16, 1981
FOR THE WEEK ENDING JANUARY 16, 1981
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 rate in New York City for cable transfers payable in foreign currencies:
COUNTRY MONETARY
UNIT (RATE U.S. CENTS
COUNTRY MONETARY
UNIT JAN. 12 JAN. 13 JAN. 14 JAN. 15 JAN. 16
AUSTRALIA DOLLAR 118.0000 117.9300 118.0800 118.1500 117.8800 AUSTRIA SCHILLING 7.11744 7.06 714 7.08717 7.06714 6.99301 BELGIUM FRANC 3.12793 3. 10463 3.11624 3. 10752 3.09789 CANADA DOLLAR 84.0760 34.0124 83.9701 84.0478 83.8997 DENMARK KRONE 16.3733 16.2602 16.3332 16.2549 16.1996 FINLAND MARKKA 26.0146 25.8732 25.9370 25.8098 25.7135 FRANCE FRANC 21.7960 21.6029 21.6732 21.5889 21.5517 GERMANY D. MARK 50,3728 49.9875 50.1882 49.9875 49.8256 INDIA RUPEE 12.6100 12.5200 12.5500 12. 5600 12.5500 IRELAND POUND 188.5000 186.8000 187.3500 187.3000 195.3000 ITALY LIRA 0.10616 0. 10504 0.10543 0.10518 0.10455 JAPAN YEN 0.48996 0.49189 0.49249 0.49566 0.49285 MALAYSIA DOLLAR 44.9035 44.6927 44.9135 44.8833 44.9640 MEXICO PESO 4.2772 4.2781 4.2735 4.2753 4.2753 NETHERLANDS GUILDER 46.3070 45.9559 46.1467 45.9559 45.8821 NEW ZEALAND DOLLAR 96.2500 96.0000 96.0000 96.1000 95.9700 NORWAY KRONE 19.3517 19.2641 19.3013 19.2234 19.1022 PORTUGAL SSCUDO 1.8815 1.8622 1.9664 1.8622 1.8553 SOUTH AFRICA RAND 133.8500 133.3000 133.7500 133.6000 133.3000 SPAIN PESETA 1.2508 1.2385 1.2418 1.2385 1.2338 SRI LANKA RUPEE 5.9701 5.9701 5.9701 5.97 01 5.9701 SWEDEN KB ON A 22.6706 22.5124 22.5912 22.5327 22.4719 SWITZERLAND FRANC 55.4017 55. 1877 55.3404 55.0813 54.884 8 UNITED KINGDOM POUND 239.7000 238.8000 240.2500 240.0500 239.3500
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