h13_19810126.pdf

( 5 1 / S 1 7 U - ^

Selected Interest & Exchange Rates Weekly Series of Charts

January 26, 1981 INTERNATIONAL FINANCE

Prepared by the BOARD OF GOVERNORS FINANCIAL MARKETS FEDERAL RESERVE SYSTEM SECTION Washington, D.C. 20551

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

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

8. 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.


RATIO SCALE MARCH 1973=100

120

100

80

140

120

100

80

160

140

120

100

CHART 1

SPOT EXCHANGE INDICES DOLLAR PRICES OF FOREIGN CURRENCIES AND WEIGHTED AVERAGE VALUES (THIN LINE)

AVERAGES FOR WEEK ENDING WEDNESDAY

- -

- r \ / \

FOREIGN CURRENCY

' -

PRICE OF US. DOLLAR

I I I 1 1 1 I I I I I I I I I I I

DUTCH GUILDER

' A. y V JAPANESE YEN ,

I I I i i i

RATIO SCALE MARCH 1973=100

CANADIAN DOLLAR

FRENCH FRANC

SWISS FRANC

160 BELGIAN FRANC 160

- A a / S x y 140

120

I I I 1 1 1 ,, -100

ITALIAN LIRA

UK. POUND

100

- 80

60

1979 1981 1979 1981


6

0

6

6

8

6

2

2

6

8 12

6

8

6

24

8

24

12

6

8

a

16

12

6

0

12

6

8

6

CHART 2

3-MONTH FORWARD EXCHANGE RATES PREMIUM (+) OR (-)

AVERAGES FOR WEEK ENDING WEDNESDAY :ENT PER ANNUM PERCENT PER AL

CANADIAN DOLLAR

U. K. POUND

FRENCH FRANC

- ITALIAN LIRA -

N / W

I I I I I I : , y

11111111111

DUTCH GUILDER

A/ SWISS FRANC i

f -

I I I I I I

JAPANESE YEN

1979 1961 1979 1961


U.S. [

800

750

700

650

600

550

500

450

400

350

300

250

200

150

100

OUNCE

800

750

700

650

600

SSC

SOC

450

400

350

300

250

200

150

100

CHART 3

PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY

LLARS PER FINE OUNCE U.S. DOLLARS PER FINE

I I L

12.5 Kg BARS AFTERNOON FIXING PRICE

1978 1979 I I I I I I I I I I I

1980 i i I i i I i i I i i

1981


PERI

28

24

20

16

12

6

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 AL

U. S. FEDERAL FUNDS U. K. 2-DAY LOCAL AUTHORITY

EURO-SWISS FRANC CANADA

NETHERLANDS

U FRANCE

- GERMANY -

jp EURO-DM

I I I'i I I I -

1979 1981 1979 1981


20

16

12

8

4 22

18

14

10

6 16

12

8

4

20

16

12

8

4 16

12

8

4

0

12

8

4

0

CHART 5

3-MONTH INTEREST RATES WEEKLY SERIES

:NT PER ANNUM PERCENT PER AH

U.S. CD'S

U.K. INTERBANK STERLING

WEIGHTED AVERAGE FOREIGN RATE

CANADIAN FINANCE CO. PAPER GERMAN INTERBANK RATE

LOANS AND DISCOUNTS JAPANESE BANK

SWISS INTERBANK RATE -

-

1979 1981 1979 1981


24

20

16

12

8

4 24

20

16

12

8

4 24

20

16

12

8

4

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 AL

OVERNIGHT 3-MONTH

6-MONTH 7-DAY

1-MONTH

-

1-YEAR

-

J I ,l I I I

1979 1981 1979 1981


PERCENT PER ANNUM

26

CHART 7

SELECTED EURO-DOLLAR AND U. S. MONEY MARKET RATES DIFFERENTIAL: FLUSH, FAVORS BORROWING IN U. S.

AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER ANNUM

26

FEDERAL FUNDS 3-MONTH

EURO-DOLLAR DEPOSITS

OVERNIGHT EURO-DOLLAR DEPOSITS

I I I I I I I I I I

DIFFERENTIAL DEFERENTIAL

vvvUVil

1 1 1 1 1 1 1 111

1979 1 PERCENT ON DIFFERENTIAL SCALE = 2 PERCENT ON RATE SCALE

1981 1979 1981


CHART 8

INTEREST ARBITRAGE: 3-MONTH FUNDS DIFFERENTIAL: PLUS(+), INDICATES FAVOR DOLLAR ASSETS

AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER ANNUM

28

20

12


2 28

20

12

INTERBANK STERLING COVERED LONDON

INTERBANK DM COVERED FRANKFURT


I I I

PERCENT ME* ANNUM

28

CANADIAN FINANCE CO. PAPER, COVERED

U. S. COMMERCIAL PAPER

i 1 1 1 ,

l \ f \ r \ f \ A

DIFFERENTIAL -

~~ I I I

DIFFERENTIAL DIFFERENTIAL

! I I l l I I I ! I l

20

12

DIFFERENTIAL

yv^

" i l l

f :

4 2


1979 1981 1 PERCENT ON DIFFERENTIAL SCALE = 2 PERCENT ON RATE SCALE

1979 1981


PER

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 At

UNITED STATES

GERMANY

FRANCE

NETHERLANDS

CANADA

" i l l I I I

U. S. CORPORATE MONTHLY

-

Aaa BONDS H -EURO-DOLLAR BONDS

I I I I I I I , | | | I | , I , 7

- SWITZERLAND J i -

I I I -

UNITED KINGDOM

MONTHLY

JAPAN

1979 1981 1979 1981


RATIO SCALE 1969=100

CHART 10

INDUSTRIAL STOCK INDICES WEEKLY SERIES

UNITED STATES

JAPAN

FRANCE GENERAL INDEX

-

A

GERMANY -

Vv I I I

Az^v SWITZERLAND

UNITED KINGDOM

RATIO SCALE 1969=100

180

160

1 4 0 1

120 I

100

60

100

9 0

80

70

60

50 200 180

160

# 140

#

120

100

80

1979 1981 1979 1981


SERIES NAME LAST VALUE PLOTTED

DATE VALUE

C H A R T 1. SEOT EXCHANGE RATES ABC INDICES

WEEKLY AVERAGES, NCON BUYING BATES (U.S. CENTS)

GERMAN MARK JAN. 21 49. ,95 JAPANESE YEN JAN. 21 0.49664 DUTCH GUILDER JAN. 21 45. ,96 U.K. PCUND JAN. 21 240.89 CANADIAN DCLLAR JAN. 21 84, ,01 FRENCH FR'ANC JAK- 21 21.59 SWISS FRANC JAN. 21 54. 96 BELGIAN FRANC JAN. 21 3. .10523 ITALIAN LIRA JAN. 21 0.10504 IICES, MARCH 197 3 BASE RATES = 100

GERMAN MARK JAN. 21 140. ,51 JAPANESE YEN JAN. 21 130.04 DUTCH GUILDER JAN. 21 131. ,95 U.K. PCUND JAN. 21 97. ,43 CANADIAN DCLLAR JAN. 21 83. .73 FRENCH FRANC JAN. 21 97. ,30 SWISS FRANC JAN. 21 176. ,82 BELGIAN FRANC JAN. 21 122. ,36 ITALIAN LIRA JAN. 21 59. ,67 iGHTEE AVERAGE EXCHANGE VALUE INDICES, MAR 1973 = 100

(G-10 COUNTRIES PLUS SWITZERLAND) U.S. DCLLAR JAN. 21 91, .12 GERMAN MARK JAN. 21 137. ,63 JAPANESE YEN JAN. 21 123. .64 DUTCH GUILDER JAN. 21 124. .40 U.K. PCUND JAN. 21 89. .63 CANADIAN DOLLAR JAN. 21 76. .33 FRENCH FRANC JAN. 21 89.40 SWISS FRANC JAN. 21 166. .71 BELGIAN FRANC JAN. 21 114. .50 ITALIAN LIRA JAN. 21 53. .02 SWEDISH KRCNA JAN. 21 92. .42

CHART 2. 3-MONTH FORWARD EXCHANGE RATES, PREMIUM OR DISCCUNT CANADIAN DOLLAR JAN. 21 1.53 U.K. PCUND JAN. 21 4.44 GERMAN MARK JAN. 21 9.56 FRENCH FRANC JAN. 21 7.42 SWISS FRANC JAN. 21 12.93 DUTCH GUILDER JAN. 21 9.10 JAPANESE YEN JAN. 21 10.45 ITALIAN LIRA JAN. 21 1.05



DATE VALUE

CHART 3. GCLD PRICE IN LONDON, AFTERNOON FIXING U.S. DOLLARS PER FINE OUNCE JAN. 21 567.80

CHART 4. CALL MONEY RATES

U.S. FEDERAL FUNDS JAN. 21 19. .35 OVERNIGHT EURO-CCLLAR DEPOSITS JAN. 21 19. .76 U.K. 2-DAY LOCAL AUTHORITY DEPOSITS JAN. 16 13. ,88 CANADA JAN. 2 17. .17 GERMANY JAN. 16 9. .10 EURC-DM JAN. 9 8. .53 JAPAN JAN. 16 8. .81 FRANCE JAN. 16 11. .44 NETHERLANDS DEC. 12 7, .85 EURO-SWISS FRANC JAN. 9 2. .70

CHART 5. 3-MONTH INTEREST RATES U.S. 90-DAY CD'S, SECONDARY MARKET JAN. 21 17.74 GERMAN INTERBANK LOAN JAN. 21 9.37 JAPANESE BANK LOANS & DISCOUNTS JAN. 21 8.95 CANADIAN FINANCE PAPER JAN. 21 16.87 INTERBANK STERLING JAN. 21 14.18 SWISS INTERBANK LOAN JAN. 21 5.63 WEIGHTED AVERAGE FOREIGN INTEREST RATE JAN. 21 11.34

(G-10 COUNTRIES PLUS SWITZERLAND)

CHART 6. EURO-DOLLAR DEPOSIT RATES: LONDON OVERNIGHT JAN. 21 19.76 7-DAY JAN. 21 19.65 1-tiCNTH JAN. 21 19.69 3-MCN'IH JAN. 21 18.60 6-MCNTH JAN. 21 17.23 1-YEAR JAN. 21 15.76

CHART 7. SELECTED EURO-DOLLAR AND U.S. MONEY MARKET RATES

JAN. 21 19.76 JAN. 21 19.35 JAN. 21 0.41 JAN. 21 18.60 JAN. 21 17.74 JAN. 21 0.86

OVERNIGHT EURO-DOLLAR DEPOSITS U.S. FEDERAL FUNDS DIFFERENTIAL AEJ. FOR RESERVE REQUIREMENTS 3-MCNTH EURO-DOLLAR DEPOSIT RATE U.S. 9 0-DAY CD'S, SECONDARY MARKET DIFFERENTIAL



DATE VALUE

CHART 8. INTEREST ARBITRAGE, 3-MONTH FUNDS EURC-DCLLAR DEPOSIT INTERBANK STERLING (LONDON), COVERED DIFFERENTIAL U.S. COMMERCIAL PAPER CANADIAN FINANCE PAPEE, COVERED DIFFERENTIAL EUBC-DCLLAB DEPOSIT INTERBANK EM (FRANKFURT), COVERED DIFFERENTIAL EURO-DOLLAR DEPOSIT SWISS INTERBANK, COVERED DIFFERENTIAL

JAN. 21 18. 60 JAN. 21 18. 77 JAN. 21 -0. 17

JAN. 21 17. 17 JAN. 21 13. 46 JAN. 21 -1. 29 JAN. 21 18. 60 JAN. 21 13. 15 JAN. 21 -0. 55

JAN. 21 18. 60 JAN. 21 18. 74 JAN. 21 -0. 14

CHART 9. LCNG TERM GOVEEMENT BOND YIELDS UNITED STATES GERMANY JAPAN (MONTHLY) SWITZERLAND CANAEA FRANCE NETHERLANDS UNITED KINGDOM

JAN. 16 12. 53 JAN. 9 8. 92 NOV. 9. 52 JAN. 9 4. 58 JAN. 2 12. 67 NOV. 14 14. 23 DEC. 12 10. 36 JAN. 9 11. 5 8

U.S. CORPORATE AAA 3CNDS EUR CDM BONDS EURO-DOLLAR BONDS

DEC. 13.21 EEC. 6.63 OCT. 11.27

CHART 10. INDUSTRIAL STOCK INDICES UNITED STATES JAN. 16 143.00 JAPAN JAN. 16 333.82 FRANCE EEC. 26 154.30 UNITED KINGDOM JAN. 16 106.24 SWITZERLAND JAN. 16 75.37 GERMANY JAN. 9 95.17


FEDERAL RESERVE statistical release

FOREIGN EXCHANGE RATES ^ m 6 B Y 2 3 ' 1 9 8 1

FOP. THE WEEK ENDING JANUARY 23, 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. 19 JAN. 20 JAN. 21 JAN. 22 JAN. 23 AUSTRALIA DOLLAR 118.1000 118.1700 118.6500 118.2600 1 18.0200 AUSTRIA SCHILLING 7.04722 7.03730 7.09723 6.99423 6.96379 BELGIUM FRANC 3.09693 3. 10270 3.12110 3.07125 3.05624 CANADA DOLLAR 84.0266 84.0054 84.0760 83.9561 83.9913 DENMARK . KRONE 16.1943 16.2180 .16.306 5 16. 0992 16.0064 FINLAND MARKKA 25.7666 25.7202 25.8164 25.6706 25. 5558 FRANCE FRANC 21.5517 21. 5494 21 .7155 21.3675 21.2856 GERMANY D. MARK 49.7760 50.0000 50.1630 49.3949 49.1400 INDIA RUPEE 12.5500 12.6600 12.6100 12.6100 12.5300 IRELAND POUND 136.1000 185.6000 186.7500 184. 3000 183.8000 ITALY LIRA 0.10493 0. 10499 0.10557 0. 10406 0.10347 JAPAN YEN 0.49432 0. 49838 0.50201 0.49788 0.49322 MALAYSIA DOLLAR 45.0248 44.9944 45.1060 44.9035 44.8732 MEXICO PESO 4.2827 4.2863 4.2845 4.2817 4.2735 NETHERLANDS GUILDER 45.8295 46.0088 46. 1467 45.4855 45.2899 NEW ZEALAND DOLLAR 96.1000 96.1500 96.4 70 0 96.4000 9 6.0600 NORWAY KRONE 19.1205 19.0894 19.1497 19.0404 18.9717 PORTUGAL ESCUDO 1.8664 1.8612 1.8685 1.8587 1.8433 SOUTH AFRICA RAND 133.5200 133.6200 133.8400 133.4000 133.3000 SPAIN PESETA 1.2398 1.2392 1.2472 1.2369 1.2338 SRI LANKA RUPEE 5.9701 5. 9701 5.9701 5. 9701 5.9701 SWEDEN KRONA 22.4593 22.5174 22.5836 22.4115 22.2816 SWITZERLAND FRANC 54.6747 54.9753 55.1877 54.5405 54.3331 UNITED KINGDOM POUND 240.5000 241.8500 242.7000 240.3000 240.7000


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