h13_19810202.pdf
TRANSCRIPT
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(516/517)
Selected Interest & Exchange Rates Weekly Series of Charts
P a h r n n u 0 1QR1 DIVISION OF February 2 , 1 9 8 1 INTERNATIONAL FINANCE
Prepared by the BOARD OF .GOVERNORS FINANCIAL MARKETS FEDERAL RESERVE SYSTEM SECTION 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 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.
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RATIO SCALE MARCH 1973=100
120
100
80
140
120
100
CHART 1
SPOT EXCHANGE INDICES DOLLAR PRICES OF FOREIGN CURRENCIES AND WEIGHTED AVERAGE VALUES (THIN LINE)
AVERAGES FOR WEEK ENDING WEDNESDAY
- -
-
FOREIGN CURRENCY
/ -
PRICE OF U.S. DOLLAR
I I I ~
-
V JAPANESE YEN / -
I I I I I I
RATIO SCALE MARCH 1973=100
CANADIAN DOLLAR
FRENCH FRANC
GERMAN MARK
- 120
- 100
: A
SWISS FRANC
\
i i i
200
160
BELGIAN FRANC
DUTCH GUILDER
ITALIAN LIRA
U.K. POUND
1979 1981 1979 1981
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CHART 2
3-MONTH FORWARD EXCHANGE RATES PREMIUM (+) OR ( - )
AVERAGES FOR WEEK ENDING WEDNESDAY
PERCENT PER ANNUM
12
__ CANADIAN DOLLAR -
I I I
U. K. POUND I / : I I I
vVv
1 1 1
V
- ITALIAN LIRA -
1 1 1 I I I
y 11111111111 i i i i i i i i i i i
PERCENT PER ANNUM
24
GERMAN MARK
DUTCH GUILDER
- Aj SWISS FRANC 1
t -
I I I I I 1
24
12
- 6
6
18
12
?
12
:
FRENCH FRANC A
I -
1 1 1 1 1 1
-
1979 1981
JAPANESE YEN 12
- 6
1979 1981
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U.S. D
800
750
700
650
600
5 5 0
5 0 0
450
400
350
300
250
200
150
HJNCE
800
750
700
650
600
550
500
Aid
400
350
300
250
200
150
100
CHART 3
PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY
i PER FINE OUNCE ' U.S. DOLLARS PER FINE
12.5 Kg BARS AFTERNOON FIXING PRICE
1980 1979
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P(ERCt
#
24
vcT"
20
16
w
0%
4
Occ. 24
W
12
8
4
0
16 Ocx
12
8
r
28
24
20
16
12
8
4
24
20
16
12
8
4
. +
0
m .
12
#
4
0
CHART 4
CALL MONEY RATES WEEKLY SERES
NT. PER ANNUM PERCENT PER Al
U. S. FEDERAL FUNDS
I I I I I I 11* r l i 1111 l i i l 11 h 11 i l l 11
U. K. 2-DAY LOCAL AUTHORITY
I I I I I I I I l l l l I I I I I 111 I 11 I I I I I
EURO-SWISS FRANC CANADA
NETHERLANDS
1 I I I I I I I I I I I I I I I I I I I I I I M 11 1 I I I I 11 I
FRANCE
JAPAN
I i l l 11 I l l l l I I I I I I I I 11
GERMANY -
: I I r
yfEURO-DM
I I 111 I I i l l I i i l u l l i l n 197 1979 W
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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
J
CHART 5
3-MONTH INTEREST RATES WEEKLY SERIES
:NT PER ANNUM PERCENT PER AN
U.S. CD'S
WEIGHTED AVERAGE FOREIGN RATE
U.K. INTERBANK STERLING
CANADIAN FINANCE CO. PAPER
LOANS AND DISCOUNTS JAPANESE BANK
GERMAN INTERBANK RATE
I I I I I I I I I I l l I I I
SWISS INTERBANK RATE
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V"IVJ../VI 1 1 1 1 1 1 1 1 1 1 1 I ! 1 1 1 1 1 1 1 1 1 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 AL
OVERNIGHT 3-MONTH
7-DAY
1-MONTH
I I I I I I I I I
6-MONTH
-
I I I I I I
-
-
1-YEAR
/ -
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 1979 1981
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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
PERCENT PER ANNUM
26
- 2 2
FEDERAL FUNDS
3-MONTH EURO-DOLLAR DEPOSITS
OVERNIGHT EURO-DOLLAR DEPOSITS
DIFFERENTIAL DIFFERENTIAL
I I I 111 I I I I I I I I I I 1 I I I I I 11111
18
- 14
10
6
3
- 2
- 1
+ 0
- 1
- 2
- 3
1979
1 PERCENT ON DIFFERENTIAL SCALE = 2 PERCENT ON MATE SCALE
1981 1979 1981
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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
EURO-DOLLAR DEPOSITS
INTERBANK STERLING COVERED LONDON
PERCENT PE* ANNUM
29
CANADIAN FINANCE CO. PAPER, COVERED
U. S. COMMERCIAL PAPER
M i l
- J V \
DIFFERENTIAL
-
~ l I I ' -
DIFFERENTIAL
1
I I M i l l
V
l l l l l l l l l l l l l 1979 1981
1 PERCENT ON DIFFERENTIAL SCALE = 2 PERCENT ON RATE SCALE
DIFFERENTIAL
J I I 11111; 111111111111
- DIFFER ENTIAL ~
~ 1 I I
V :
INTERBANK DM COVERED FRANKFURT
EURO-DOLLAR DEPOSITS EURO-DOLLAR DEPOSITS
1979 1981
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15
13
11
9
7
10
8
a
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 M
CANADA
UNITED STATES
GERMANY
FRANCE
NETHERLANDS
111 n i l I 11
U . S . CORPORATE MONTHLY
Aaa BONDS
EURO-DOLLAR BONDS
- SWITZERLAND
I I I H I M I I I I M
UNITED KINGDOM
MONTHLY
JAPAN
I I I I I I I 1979 1981 1979 1981
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CHART 10
RATIO SCALE 1969=100
INDUSTRIAL STOCK INDICES WEEKLY SERIES
-UNITED STATES j N *
1 -
f y wV -
RATIO SCALE 1969=100
-
A
GERMANY -
1 1 1 Vv Az^v ,
JAPAN
FRANCE GENERAL INDEX
SWITZERLAND
- -
A
UNITED KINGDOM -
vA fvT If
1 ! 1 1 1 1 1979 1981 1979 1981
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S E R I E S NAME LAST VALUE PLOTTED
DATE VALUE
CHART 1 . SPOT EXCHANGE RATES AND I N D I C E S
WEEKLY AVERAGES, NCON BUYING RATES ( U . S . CENTS)
GERMAN MARK J A N . 2 8 4 8 . . 7 0 J A P A N E S E YEN J A N . 2 8 0 . . 4 9 3 0 4 DUTCH GUILDER J A N . 2 8 4 4 . . 8 6 U . K . POUND J A N . 2 8 2 4 0 . . 7 3 CANADIAN DOLLAR J A N . 2 8 8 3 . . 9 3 FRENCH FRANC J A N . 2 8 2 1 . . 1 2 S W I S S FRANC J A N . 2 8 5 3 . . 9 0 BELGIAN FRANC J A N . 2 8 3 . . 0 3 2 9 9 I T A L I A N L I R A J A N . 2 8 0. . 1 0 2 5 8
I N D I C E S , MARCH 1 9 7 3 BASE RATES = 1 0 0
GERMAN MARK J A N . 2 8 1 3 7 . 0 1 J A P A N E S E YEN J A N . 2 8 1 2 9 . 0 9 DUTCH GUILDER J A N . 2 8 1 2 8 . 7 9 U . K . POUND J A N . 2 8 9 7 . 3 7 CANADIAN DOLLAR J A N . 2 8 8 3 . 6 5 FRENCH FRANC J A N . 2 8 9 5 . 1 6 S W I S S FRANC J A N . 2 8 1 7 3 . 4 1 BELGIAN FRANC J A N . 2 8 1 1 9 . 5 1 I T A L I A N L I R A J A N . 2 8 5 8 . 2 7
WEIGHTED AVERAGE EXCHANGE VALUE I N D I C E S , MAR 1 9 7 3 = 1 0 0 ( G - 1 0 C O U N T R I E S PLUS SWITZERLAND)
U . S . DOLLAR J A N . 2 8 9 2 . 6 3 GERMAN MARK J A N . 2 8 1 3 5 . 6 0 J A P A N E S E YEN J A N . 2 8 1 2 4 . 4 2 DUTCH GUILDER J A N . 2 8 1 2 2 . 8 9 U . K . POUND J A N . 2 8 9 0 . 8 4 CANADIAN DOLLAR J A N . 2 8 7 7 . 3 1 FRENCH FRANC J A N . 2 8 8 8 . 4 7 S W I S S FRANC J A N . 2 8 1 6 5 . 5 8 BELGIAN FRANC J A N . 2 8 1 1 3 . 2 2 I T A L I A N L I R A J A N . 2 8 5 2 . 4 0 SWEDISH KRONA J A N . 2 8 9 2 . 1 3
CHART 2 . 3-MONTH FORWARD EXCHANGE R A T E S , PREMIUM OR DISCOUNT
CANADIAN DOLLAR J A N . 2 8 1 . 2 4 U . K . POUND J A N . 2 8 4 . 4 4 GERMAN MARK J A N . 2 8 9 . 2 0 FRENCH FRANC J A N . 2 8 7 . 4 5 S W I S S FRANC J A N . 2 8 1 2 . 4 3 DUTCH GUILDER J A N . 2 8 8 . 9 4 J A P A N E S E YEN J A N . 2 8 9 . 7 9 I T A L I A N L I R A J A N . 2 8 0 . 4 8
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S E R I E S NAME LAST VALUE PLOTTED
DATE VALUE
CHART 3 . GCLD P R I C E I N LONDON, AFTERNCON q F1CJNG
U . S . DOLLARS PER F I N E OUNCE J A N . 2 8 5 3 8 . 6 0
CHART 4 . CALL MONEY RATES
U . S . F E D E R A L FUNDS O V E R N I G H T EURO-DOLLAR D E P O S I T S U . K . 2 - D A Y LOCAL AUTHORITY D E P O S I T S CANADA GERMANY EURC-DM J A P A N FRANCE NETHERLANDS E U R C - S W I S S FRANC
J A N . 2 8 J A N . 2 8 J A N . 2 3 J A N . 16 J A N . 2 3 J A N . 1 6 J A N . 2 3 J A N . 2 3 J A N . 9 J A N . 1 6
18.12 1 9 . 0 1 1 4 . 1 3 1 7 . 0 0
9 . 0 0 8 . 6 9 9 . 0 6
1 0 . 7 5 9 . 7 0 2 . 1 3
CHART 5 . 3 -MONTH I N T E R E S T RATES
U . S . 9 0 - D A Y C D ' S , SECONDARY MARKET GERMAN I N T E R B A N K LOAN J A P A N E S E BANK LOANS & D I S C O U N T S CANADIAN F I N A N C E PAPER I N T E R B A N K S T E R L I N G S W I S S I N T E R B A N K LCAN WEIGHTED AVERAGE FOREIGN I N T E R E S T RATE
( G - 1 0 C O U N T R I E S P L U S SWITZERLAND)
J A N . 2 8 J A N . 2 8 J A N . 2 8 J A N . 2 8 J A N . 2 8 J A N . 2 8 J A N . 2 8
1 7 . 4 7 9 . 4 0 8.88
1 7 . 0 8 1 4 . 1 1
5 . 9 0 1 1 . 3 4
CHART 6 . E U R O - D O L L A R D E P O S I T R A T E S : LONDON
O V E R N I G H T 7 - D A Y 1 - M C N T H 3 - M C N T H 6 - M C N T H 1 - Y E A R
J A N . 2 8 J A N . 2 8 J A N . 2 8 J A N . 2 8 J A N . 2 8 J A N . 2 8
1 9 . 0 1 1 8 . 8 4 1 9 . 6 4 1 8 . 5 6 1 7 . 3 1 1 6 . 0 4
CHART 7 . S E L E C T E D EURO-DOLLAR AND U . S . MONEY MARKET R A T E S
OVERNIGHT EURO-DOLLAR D E P O S I T S U . S . FEDERAL FUNDS D I F F E R E N T I A L A D J . FOR RESERVE REQUIREMENTS
3 - M C N T H E U R O - C O L L A R D E P O S I T RATE U . S . 9 0 - D A Y C D ' S , SECONDARY MARKET D I F F E R E N T I A L
J A N . J A N . J A N .
28 28 28
J A N . 2 8 J A N . 2 8 J A N . 2 8
1 9 . 0 1 18.12
0 . 8 9
1 8 . 5 6 1 7 . 4 7
1 . 0 9
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S E R I E S NAME LAST VALUE PLOTTED
DATE VALUE
CHART 8 . I N T E R E S T A R B I T R A G E , 3 - M O N I H FUNDS
EURC-DCLLAR D E P O S I T J A N . 2 8 1 8 . 5 6 INTERBANK S T E R L I N G ( L O N D O N ) , COVERED J A N . 2 8 1 8 . 7 1 D I F F E R E N T I A L J A N . 2 8 - 0 . 1 5
U . S . COMMERCIAL PAPER JAN. 2 8 1 6 . 8 4 CANADIAN F I N A N C E P A P E R , COVEEED J A N . 2 8 1 8 . 3 7 D I F F E R E N T I A L J A N . 2 8 - 1 . 5 3
EURC-DOLLAR D E P O S I T J A N . 2 8 1 8 , , 5 6 INTERBANK CM ( F R A N K F U R T ) , COVERED J A N . 2 8 1 8 . . 8 1 D I F F E R E N T I A L J A N . 2 8 - 0 , . 2 5
EURO-DOLLAR D E P O S I T J A N . 2 8 1 8 . . 5 6 S W I S S I N T E R B A N K , COVERED J A N . 2 8 1 8 , . 5 2 D I F F E R E N T I A L J A N . 2 8 0 . . 0 5
CHART 9 . LCNG TERM GOVERMENT BOND Y I E L D S
UNITED S T A T E S J A N . 2 3 1 2 . . 7 2 GERMANY J A N . 1 6 8 , , 9 9 J A P A N (MONTHLY) NOV. 9 . . 5 2 SWITZERLAND J A N . 9 4 . . 5 8 CANADA J A N . 1 6 1 2 . . 7 3 FRANCE NOV. 2 8 1 4 . . 2 4 NETHERLANDS J A N . 9 9 . . 9 8 UNITED KINGDOM J A N . 1 6 1 1 . . 5 5
U . S . CORPORATE
AAA BONDS EURO-DM BONDS E U R O D O L L A R BONDS
DEC. 1 3 . 2 1 DEC. 6 . 6 3 OCT. 1 1 . 2 7
CHART 1 0 . I N D U S T R I A L STOCK I N D I C E S
U N H I D STATES JAPAN FRANCE UNITED KINGDOM SWITZERLAND GERMANY
J A N . 2 3 1 3 8 . 10 J A N . 2 3 3 3 6 . 7 7 J A N . 9 1 4 3 . 5 0 J A N . 2 3 1 0 9 . 9 8 J A N . 2 3 7 4 . 3 4 J A N . 1 6 9 4 . 6 8
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FEDERAL RESERVE statistical release
H. 10 ( 5 1 2 ) FOREIGN EXCHANGE RATES
JANUARY 3 0 1 9 8 1
FOR THE WEEK ENDING JANUARY 3 0 , 1 9 8 1
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 J A N . 2 6 J A N . 2 7 J A N . 2 8 J A N . 2 9 J A N . 30
AUSTRALIA DOLLAR 1 1 8 . 8 0 0 0 1 1 7 . 7 0 0 0 1 1 7 . 5 5 0 0 1 1 7 , 4 0 0 0 1 1 7 . 8 4 0 0 AUSTRIA S C H I L L I N G 6 . 8 6 5 7 7 6 . 8 2 5 9 4 6 . 7 8 1 9 6 6 . 7 5 4 4 7 6 . 6 6 2 2 2 BELGIUM FRANC 3 . 0 3 6 7 5 3 . 0 1 3 8 6 2 , 9 8 6 8 6 2 . 9 8 0 6 3 2 . 9 2 9 1 2 CANADA DOLLAR 8 4 . 0 3 3 6 8 3 . 9 2 0 8 8 3 . 7 3 1 1 8 3 . 4 7 2 4 8 3 . 7 3 1 1 DENMARK KRONE 1 5 . 8 3 2 8 1 5 . 6 6 1 7 . 1 5 , 6 0 0 6 1 5 . 4 9 1 9 1 5 . 2 5 5 5 FINLAND MARKKA 2 5 . 4 7 7 7 2 5 . 3 4 2 1 2 5 . 3 5 5 0 2 5 . 1 4 4 6 2 5 . 0 0 0 0 FRANCE FRANC 2 1 . 1 2 8 2 2 0 . 9 6 8 8 2 0 . 8 3 7 7 2 0 . 7 1 8 9 2 0 . 3 7 7 0 GERMANY D . MARK 4 8 . 7 3 7 7 4 8 . 2 8 5 9 4 7 . 9 6 1 6 4 7 . 7 5 5 5 4 6 . 9 0 4 3 I N D I A RUPEE 1 2 . 5 3 0 0 1 2 . 4 5 0 0 1 2 . 4 2 0 0 1 2 . 3 9 0 0 1 2 . 3 5 0 0 IRELAND POUND 1 8 1 . 9 0 0 0 1 8 0 . 7 0 0 0 1 7 9 . 5 0 0 0 1 7 8 . 4 0 0 0 1 7 5 . 2 0 0 0 ITALY L I R A 0 . 1 0 2 5 6 0 . 1 0 1 7 3 0 . 1 0 1 0 6 0 . 1 0 0 7 0 0 . 0 9 9 2 1 JAPAN YEN 0 . 4 9 1 2 8 0 . 4 9 3 8 3 0 . 4 8 9 0 0 0 . 4 9 8 7 6 0 . 4 8 3 7 S MALAYSIA DOLLAR 4 4 . 8 8 3 3 4 5 . 0 2 4 8 4 5 . 1 3 6 5 4 4 . 9 8 4 3 4 4 . 6 6 2 8 MEXICO PESO 4 . 2 7 3 0 4 . 2 6 9 9 4 . 2 7 1 7 4 . 2 7 2 1 4 . 2 6 9 9 NETHERLANDS GUILDER 4 4 . 8 8 3 3 4 4 . 4 8 4 0 4 4 . 1 6 9 6 4 3 . 9 8 5 0 4 3 . 2 9 0 0 NEW ZEALAND DOLLAR 9 5 . 8 5 0 0 9 5 . 9 0 0 0 9 5 , 7 0 0 0 9 5 . 3 0 0 0 9 4 . 8 8 0 0 NORWAY KRONE 1 8 . 7 7 7 6 1 8 . 5 5 2 9 1 8 . 5 4 0 8 1 8 . 4 6 7 2 1 8 . 2 3 9 9 PORTUGAL ESCUDO 1 . 8 3 9 9 1 . 8 2 9 8 1 . 8 1 8 2 1 . 8 0 8 3 1 . 7 9 3 7 SOUTH AFRICA RAND 1 3 3 . 1 7 0 0 1 3 2 . 8 5 0 0 1 3 2 . 4 0 0 0 1 3 2 . 1 8 0 0 1 3 1 . 5 5 0 0 S P A I N PESETA 1 . 2 3 0 0 1 . 2 2 2 5 1 . 2 2 0 0 1 . 2 1 6 2 1 . 2 0 8 5 S R I LANKA RUPEE 5 . 9 7 0 1 5 . 9 7 0 1 5 . 9 7 0 1 5 . 9 7 0 1 5 . 5 9 9 1 SWEDEN KRONA 2 2 . 1 9 0 2 2 1 . 9 2 9 8 2 1 . 9 7 8 0 2 1 . 8 9 6 2 2 1 . 7 3 9 1 SWITZERLAND FRANC 5 4 . 0 2 4 8 5 3 . 4 9 0 2 5 3 . 1 2 0 8 5 2 . 5 4 8 6 5 1 . 7 5 9 8 UNITED KINGDOM POUND 2 4 1 . 6 0 0 0 2 4 0 . 2 0 0 0 2 4 0 - 8 3 0 0 2 3 9 . 6 8 0 0 2 3 6 . 5 5 0 0
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