h13_19810608.pdf

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0 A UBR/fy^p

Selected Interest & Exchange Rates Weekly Series of Charts

NEW SERIES: STOCK INDICES

June 8 ,1981

Prepared by the FINANCIAL MARKETS SECTION

DIVISION OF INTERNATIONAL FINANCE

BOARD OF GOVERNORS FEDERAL RESERVE SYSTEM Washington, D C. 20551

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

TABLES 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.

5. 3-MONTH INTEREST RATES

& EURO-DOLLAR DEPOSIT RATES 7. SELECTED EURO DOLLAR AND

U.S. MONEY MARKET RATES & INTEREST ARBITRAGE: 3-MONTH FUNDS

9. LONG-TERM GOVERNMENT BOND YIELDS 10. INDUSTRIAL STOCK INDICES

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


RATIO S C A L E MARCH 1 9 7 3 = 1 0 0

120

100 -

120

100

100

80

60

40

C H A R T 1

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

AVERAGES FOR WEEK ENDING WEDNESDAY

JAPANESE YEN

V V ^ X . A / /

v \ n A V -

V I I I i i i 11111111111

CANADIAN DOLLAR

DUTCH GUILDER

RATIO S C A L E MARCH 1 9 7 3 = 1 0 0

120

- 100 U.K. POUND

FOREIGN CURRENCY PRICE OF U.S. DOLLAR

FRENCH FRANC

GERMAN MARK

80

60

X -

SWISS FRANC

| | I l i ~

i BELGIAN FRANC

-\ ^ X _

1 I I

- 120

- 100

80

240

200

160

140

120

160

140

120

100

1979 1981

100

- ITALIAN LIRA - 80

^ 1 \ - 60

-

| | | | | | | | l l l l l l l l l l j 40 1979 1981

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

6

+ 0

6

6

+ 0

6

12

12

6

+ 0

12

6

+ 0

6

2 4

+ 0

2 4

12

6

+ 0

6

18

12

6

0

12

6

+ 0

6

CHART 2

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


ENT PER ANNUM PERCENT PER AN

CANADIAN DOLLAR

U. K. POUND

GERMAN MARK

FRENCH FRANC

V

-ITALIAN LIRA

-

-

I I I | | u |

-

DUTCH GUILDER

- A />

SWISS FRANC |

A -

-

JAPANESE YEN

1 9 7 9 1 9 8 1 1 9 7 9 1 9 8 1 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

U.S. D

800

7 5 0

7 0 0

6 5 0

600

5 5 0

5 0 0

4 5 0

4 0 0

3 5 0

3 0 0

2 5 0

200

150

100

800

7 5 0

7 0 0

6 5 0

600

5 5 0

5 0 0

4 5 0

4 0 0

3 5 0

3 0 0

2 5 0

200

150

100

C H A R T 3

PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY

.LARS PER FINE OUNCE U.S. DOLLARS PER F:NE C

12.5 Kg BARS AFTERNOON FIXING PRICE

I I I I I I I I I I I I I I I I I I 1978 1979 1980 1981


28

24

20

16

12

8

4

24

20

16

12

8

4

+ 0

24

20

16

12

8

4

0

28

24

20

16

12

8

4

24

20

16

12

8

4

+ 0

24

20

16

12

8

4

0

C H A R T 4

CALL MONEY RATES WEEKLY SERIES

NT PER ANNUM PERCENT PER Ah

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

CANADA

EURO-SWISS FRANC

NETHERLANDS

FRANCE

GERMANY

JAPAN

EURO-DM

1979 1981 1979 1981


20

16

12

8

4

22

18

1 4

10

6

16

12

8

4

20

16

12

8

4

16

12

8

4

0

12

8

4

0

C H A R T 5

3-MONTH INTEREST RATES WEEKLY SERIES

IT PER ANNUM PERCENT PER ANH

U. S. CD S

U.K. INTERBANK STERLING

WEIGHTED AVERAGE FOREIGN RATE

CANADIAN FINANCE CO. PAPER GERMAN INTERBANK RATE

I

JAPANESE BANK LOANS AND DISCOUNTS

SWISS INTERBANK RATE

1 9 7 9 1 9 8 1 1 9 7 9 1 9 8 1


PERC

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

NT PER ANNUM PERCENT PER ANI

OVERNIGHT 3-MONTH

6-MONTH 7-DAY

1-YEAR 1-MONTH

1979 1981 1979 1981


m

C H A R T 7

SELECTED EURO-DOLLAR AND U. S. MONEY MARKET RATES DIFFERENTIAL: PLUS(+), FAVORS BORROWING IN U. S.


PERCENT PER ANNUM PERCENT PER ANNUM

26

22

FEDERAL FUNDS

OVERNIGHT 1 E U R O - D O L L A R D E P O S I T S

3

DIFFERENTIAL 2

1

+ 0

1

2

3

4

1979 1981

26

22

3-MONTH E U R O - D O L L A R D E P O S I T S

90-DAY CD* S

3

DIFFERENTIAL

1979 1981

1 P E R C E N T ON D I F F E R E N T I A L S C A L E = 2 P E R C E N T O N R A T E S C A L E


CHART 8

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


PERCENT PER ANNUM

28

20

12

EURO-DOLLAR DEPOSITS

INTERBANK STERLING COVERED LONDON

PERCENT PER ANNUM

28

CANADIAN FINANCE CO. PAPER, COVERED

U. S. COMMERCIAL PAPER

J HI \

DIFFERENTIAL

-

- 1 i , I I I I I I I I I I I I I I

DIFFERENTIAL -

- / ~ U A \ a~aA~v

I I I

flA I

INTERBANK DM COVERED FRANKFURT

SWISS INTERBANK (SF) COVERED

EURO-DOLLAR DEPOSITS EURO-DOLLAR DEPOSITS

DIFFERENTIAL DIFFERENTIAL

1979 1981 1979 1981

1 P E R C E N T ON D I F F E R E N T I A L S C A L E = 2 P E R C E N T ON RATE S C A L E


1 7

1 5

1 3

11

9

7

12

10

8

6

4

16

1 4

12

10

8

6

16

1 4

12

10

8

6

1 7

1 5

1 3

11

9

7

9

7

5

3

1

1 7

1 5

1 3

11

9

7

1 5

1 3

11

9

7

5

C H A R T 9

LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES

NT PER ANNUM PERCENT PER AN

CANADA

UNITED STATES

SWITZERLAND

GERMANY

FRANCE

UNITED KINGDOM

NETHERLANDS

U. S. CORPORATE MONTHLY MONTHLY

JAPAN A a a B O N D S

E U R O - D O L L A R B O N D S

1 9 7 9 1 9 8 1 1 9 7 9 1 9 8 1


CHART 10

STOCK INDICES WEEKLY SERIES

RATIO SCALE 1 9 7 7 = 1 0 0

160

140 UNITED STATES V V V J\y -

120 ~

100 -

80

140

120

~ A

a UNITED KINGDOM / ' 100 W V r -

80 - -

60 I L L M I M I H I M

140

120 i FRANCE

1 / v ,

100 R V V Y V 1 ) V ~ l -

80 - -

V

60 1 1 1 I l l l l l l l l l l M l l l l l l l l l

RATIO SCALE 1 9 7 7 = 1 0 0

JAPAN

140

-SWITZERLAND - 120

/ ^ R V / V Y V ~ V

-100

- 80

m I m I o I o 60

140

GERMANY 120

V AZ^ 100 - - 8 0

i i i 60

140

120 - -

100 - TV V \ -

80 - J\f -

60 -

NETHEF (LANDS

-

4 5 i | | I I I I I 1 1 I 1 1 1 ! ! I m I K I I I I M

CANADA

1979 1981 1979 1981


STANDARD & P O O R ' S INDUSTRIALS NSA REBASED TO 1 9 7 7 = 1 0 0

USER NOTES2SOURCE REUTERS

1 9 7 8 - 1 9 5 . 0 8 9 1 . 24 9 2 . 1 5 9 0 . 9 1 9 1 . 5 8 1 9 7 8 - 1 3 9 0 . 5 7 9 1 . 0 7 9 1 . 5 5 9 5 . 52 9 8 . 6 8 1 9 7 8 - 2 5 9 8 . 0 3 9 7 . 39 9 6 . 11 9 8 . 2 2 1 0 0 . 1 9 1 9 7 8 - 3 7 1 0 8 . 8 8 1 0 4 . 0 7 1 0 4 . 0 6 1 0 5 . 6 4 1 0 7 . 0 9 1 9 7 8 - 4 9 1 0 0 . 10 9 8 . 5 4 9 7 . 4 3 9 9 . 6 5 * * * * * * * * *

1 9 7 9 - 1 1 0 0 . 7 9 1 0 2 . 9 4 1 0 2 . 4 4 9 9 . 6 5 1 0 2 . 8 5 1 9 7 9 - 1 3 1 0 5 . 3 6 1 0 5 . 9 1 1 0 5 . 4 2 1 0 4 . 8 3 1 0 5 . 8 6 1 9 7 9 - 2 5 1 0 4 . 16 1 0 4 . 7 8 1 0 4 . 4 8 1 0 5 . 9 4 1 0 4 . 0 1 1 9 7 9 - 3 7 1 1 0 . 9 4 1 1 1 . 5 8 1 1 0 . 7 2 1 1 0 . 9 4 1 0 9 . 0 5 1 9 7 9 - 4 9 1 1 0 . 8 8 1 1 1 . 3 2 1 1 2 . 1 4 1 1 1 . 6 4 * * * * * * * * *

1 9 8 0 - 1 1 0 9 . 4 1 1 1 3 . 0 0 1 1 5 . 3 7 1 1 8 . 1 5 1 2 0 . 3 3 1 9 8 0 - 1 3 1 0 2 . 9 8 1 0 7 . 46 1 0 5 . 8 2 1 0 5 . 04 1 0 7 . 4 3 1 9 8 0 - 2 5 1 2 0 . 7 9 1 2 1 . 3 6 1 2 0 . 2 3 1 2 2 . 7 6 1 2 4 . 5 7 1 9 8 0 - 3 7 1 3 0 . 8 7 1 3 5 . 2 8 1 3 7 . 11 1 3 3 . 9 5 1 3 8 . 5 9 1 9 8 0 - 4 9 1 4 4 . 6 3 1 3 5 . 11 1 4 0 . 1 3 1 4 2 . 7 3 1 4 2 . 7 1

1 9 8 1 - 1 1 4 1 . 7 8 1 4 0 . 19 1 3 7 . 7 6 1 3 6 . 7 6 1 3 6 . 6 4 1 9 8 1 - 1 3 1 4 3 . 0 8 1 4 0 . 6 1 1 4 0 . 3 4 1 3 9 . 8 1 1 3 9 . 2 8

9 2 . 4 1 9 8 . 1 9

101.22 1 0 2 . 9 0

9 0 . 3 5 9 7 . 9 0

1 0 7 . 1 6 9 9 . 7 1

8 9 . 1 0 1 0 1 . 9 2 1 0 6 . 7 4

9 9 . 5 7

8 8 . 5 9 9 9 . 2 1

1 0 7 . 9 4 9 7 . 0 6

8 9 . 2 4 9 9 . 3 3

1 0 7 . 3 5 9 5 . 1 1

9 0 . 5 3 1 0 2 . 3 3 1 0 5 . 9 1

9 7 * 9 8

9 0 . 8 6 1 0 1 . 5 9 1 0 7 . 9 6

9 6 . 10

100.00 1 0 5 . 1 6 1 0 5 . 4 2 1 0 7 . 2 7

1 0 1 . 8 4 1 0 2 . 6 4 1 0 6 . 4 1 1 0 4 . 0 1

102-11 1 0 1 . 4 0 108.80 1 0 5 . 4 2

9 9 . 1 0 1 0 2 . 7 5 110.88 1 0 3 . 3 4

1 0 1 . 3 3 1 0 1 . 8 7 112.22 1 0 7 . 0 8

1 0 2 . 7 3 1 0 4 . 1 5 1 1 1 . 8 5 1 0 7 . 5 8

1 0 4 . 4 3 1 0 4 . 9 7 1 0 9 . 2 4 1 1 0 . 1 9

1 2 0 . 9 2 1 1 0 . 4 4 1 2 7 . 4 4 1 4 1 . 0 3

1 2 4 . 1 6 1 1 0 . 8 1 1 2 7 . 8 8 1 3 8 . 8 6

1 2 2 . 2 5 110.81 1 2 7 . 3 4 1 3 4 . 5 7

1 1 8 . 2 2 1 1 1 . 7 9 1 2 9 . 2 4 1 3 8 . 5 5

1 1 6 . 9 8 1 1 6 . 4 5 1 2 9 . 9 0 1 4 1 . 9 4

112.18 1 1 7 . 1 4 1 2 9 . 6 3 1 4 7 . 0 5

1 0 9 . 2 8 1 2 0 . 7 4 1 3 2 . 2 9 1 4 8 . 3 1

1 3 4 . 3 8 1 3 7 . 1 5

1 3 4 . 8 8 1 3 6 . 4 3

1 3 4 . 9 3 1 3 7 . 8 4

1 3 7 . 2 4 1 3 9 . 6 7

1 3 6 . 1 5 1 4 0 . 3 6 1 4 3 . 7 7


FINANCIAL TIMES INDUSTRIAL ORDINARY INDEX NSA RBBASBD TO 1 9 7 7 = 1 0 0

3 5 =

USER NOTES:SOURCE: LONDON FINANCIAL TIMES

1 9 7 8 - 1 1 0 7 . 2 4 1 0 7 . 11 1 0 4 . 7 2 1 0 6 . 2 3 1 0 3 . 2 9 1 9 7 8 - 1 3 1 0 2 . 9 6 1 0 3 . 3 7 1 0 1 . 1 8 9 9 . 9 9 1 0 0 . 6 5 1 9 7 8 - 2 5 1 0 0 . 16 1 0 0 . 10 9 9 . 3 7 1 0 4 . 0 6 1 0 2 . 8 3 1 9 7 8 - 3 7 1 1 7 . 4 7 1 1 6 . 3 2 1 1 1 . 2 5 1 1 2 . 3 7 1 1 0 . 8 5 1 9 7 8 - 4 9 1 0 8 . 1 2 1 0 5 . 6 8 1 0 5 . 1 3 1 0 5 . 1 3 * * * * * * * * *

1 9 7 9 - 1 1 0 5 . 5 1 1 0 5 . 2 2 1 0 4 . 2 1 1 0 1 . 3 5 1 0 2 . 8 2 1 9 7 9 - 1 3 1 1 8 . 3 5 1 1 5 . 16 1 1 8 . 4 3 1 1 7 . 4 9 1 2 1 . 5 1 1 9 7 9 - 2 5 1 0 6 . 6 5 1 0 2 . 6 5 1 0 1 . 46 1 0 3 . 0 2 1 0 3 . 7 7 1 9 7 9 - 3 7 1 0 3 . 7 9 1 0 1 . 2 0 1 0 3 . 9 7 1 0 3 . 7 9 1 0 3 . 7 7 1 9 7 9 - 4 9 9 2 . 0 3 9 3 . 1 3 9 2 . 8 0 9 1 . 1 7 * * * * * * * * *

1 9 8 0 - 1 8 9 . 4 8 9 3 . 11 1 0 0 . 14 9 8 . 5 8 1 0 0 . 6 0 1 9 8 0 - 1 3 9 5 . 6 6 9 5 . 0 0 9 4 . 8 2 9 7 . 4 2 9 5 . 6 8 1 9 8 0 - 2 5 1 0 4 . 0 1 1 0 2 . 4 3 1 0 1 . 9 2 1 0 8 . 3 9 1 1 0 . 6 1 1 9 8 0 - 3 7 1 1 0 . 3 2 1 1 0 . 10 1 0 6 , 2 5 1 0 6 . 2 3 1 0 5 . 4 2 1 9 8 0 - 4 9 1 0 5 . 3 8 1 0 3 . 0 2 1 0 2 . 5 6 1 0 2 . 6 5 1 0 4 . 3 2

1 9 8 1 - 1 1 0 1 . 18 9 8 . 0 5 1 0 1 . 5 1 1 0 1 . 0 0 1 0 5 . 2 9 1 9 8 1 - 1 3 1 1 6 . 4 8 1 1 8 . 59 1 2 0 . 7 2 1 2 8 . 4 6 1 2 7 . 4 9

s

1 0 2 . 9 8 1 0 3 . 7 5 1 0 5 . 9 7 1 0 8 . 7 4

9 9 . 6 4 1 0 4 . 4 3 1 0 8 . 8 9 1 0 7 . 6 6

9 8 . 9 1 1 0 5 . 6 0 1 1 3 . 4 9 1 0 5 . 3 5

9 7 . 5 7 1 0 4 . 2 1 1 1 2 . 1 2 1 0 4 . 3 0

9 8 . 2 1 1 0 5 . 2 7 1 1 4 . 1 5 1 0 4 . 5 6

9 9 . 7 9 1 0 4 . 4 1 1 1 0 . 5 9 1 0 5 . 2 2

1 0 1 . 7 0 1 0 3 . 7 5 1 1 0 . 7 0 1 0 7 . 5 1

1 0 0 . 0 8 1 1 9 . 7 8 1 0 2 . 1 0 1 0 3 . 8 4

1 0 0 . 5 6 1 1 8 . 4 8 1 0 0 . 4 3

9 8 . 8 2

1 0 0 . 4 5 1 1 7 . 8 8 1 0 4 . 0 6

9 6 . 1 9

1 0 5 . 9 2 1 1 4 . 8 5 1 0 4 . 2 5

9 1 . 92

1 0 9 . 2 4 1 1 2 . 5 2 1 0 2 . 3 9

9 0 . 1 4

1 1 2 . 1 0 1 1 3 . 6 4 1 0 2 . 5 2

9 0 . 8 0

1 1 3 . 4 0 1 0 7 . 4 9 1 0 3 . 9 7

9 1 . 6 6

1 0 0 . 2 3 9 6 . 8 2

1 0 6 . 8 5 1 0 6 . 7 4

1 0 5 . 2 7 9 6 . 6 0

1 0 7 . 4 4 1 0 7 . 4 4

1 0 0 . 7 6 9 6 . 6 0

1 0 4 . 0 1 1 0 8 . 4 3

1 0 1 . 2 2 9 4 . 8 9

1 0 4 . 3 4 1 0 7 . 0 7

1 0 1 . 2 2 9 1 . 5 9

1 0 8 . 1 0 1 0 7 . 1 6

9 7 . 8 1 9 3 . 0 0

108.06 1 1 2 . 2 3

9 4 . 9 8 9 8 . 2 5

1 0 7 . 6 8 1 0 8 . 7 4

1 0 6 . 9 1 1 2 5 . 4 5

1 0 7 . 5 7 121.20

1 1 0 . 3 7 1 0 9 . 9 3 1 0 3 . 3 3 1 0 7 . 9 7 1 1 1 . 5 5 1 1 9 . 7 8 1 1 9 . 9 1


TORONTO COMPOSITE INDEX NSA REBASED TO 1 9 7 7 = 1 0 0

7 5 = 1


1 9 7 8 - 1 1 0 3 . 3 7 9 9 . 6 7 9 9 . 91 1 0 0 . 0 3 9 9 . 6 4 1 9 7 8 - 1 3 1 0 4 . 6 3 1 0 5 . 46 1 0 6 . 91 1 0 7 . 6 5 1 0 7 . 8 1 1 9 7 8 - 2 5 1 1 2 . 0 9 1 1 1 . 20 1 1 0 . 7 6 1 1 2 . 7 0 1 1 6 . 8 2 1 9 7 8 - 3 7 1 2 7 . 6 6 1 2 3 . 8 7 1 2 5 . 9 8 1 2 8 . 2 7 1 3 1 . 2 2 1 9 7 8 - 4 9 1 2 7 . 2 9 1 2 7 . 4 7 1 2 6 . 8 2 1 2 8 . 3 2 * * * * * * * * *

1 9 7 9 - 1 1 3 1 . 8 5 1 3 4 . 7 1 1 3 3 . 8 2 1 3 5 . 6 2 1 3 4 . 2 4 1 9 7 9 - 1 3 1 4 5 . 1 6 1 4 5 . 1 6 1 4 5 . 0 3 1 4 4 . 4 9 1 4 6 . 6 4 1 9 7 9 - 2 5 1 5 6 . 7 0 1 5 9 . 6 2 1 5 7 . 62 1 5 4 . 8 2 1 5 3 . 5 9 1 9 7 9 - 3 7 1 7 1 . 0 6 1 7 0 . 54 1 6 4 . 5 9 1 7 1 . 0 6 1 6 7 . 3 3 1 9 7 9 - 4 9 1 7 1 . 16 1 7 3 . 67 1 7 6 . 3 6 1 7 8 . 1 4 * * * * * * * * *

1 9 8 0 - 1 1 7 9 . 7 6 1 8 4 . 3 5 1 9 4 . 3 4 1 9 1 . 6 2 2 0 0 . 6 2 1 9 8 0 - 1 3 1 7 8 . 9 5 1 7 9 . 0 0 1 8 2 . 8 3 1 8 0 . 12 1 8 1 . 3 6 1 9 8 0 - 2 5 2 0 2 . 19 2 0 3 . 2 8 2 0 6 . 5 6 2 1 2 . 1 5 2 0 9 . 7 6 1 9 8 0 - 3 7 2 2 9 . 9 1 2 3 2 . 0 8 2 3 2 . 5 3 2 2 6 . 1 8 2 2 6 . 6 2 1 9 8 0 - 4 9 2 3 4 . 2 5 2 2 1 . 4 1 2 2 0 . 9 9 2 2 5 . 4 7 2 2 4 . 7 0

1 9 8 1 - 1 2 2 4 . 3 6 2 2 2 . 8 2 2 2 2 . 2 2 2 1 9 . 4 3 2 1 9 . 3 6 1 9 8 1 - 1 3 2 3 4 . 3 2 2 3 3 . 57 2 3 1 . 6 7 2 3 2 . 7 8 2 2 8 . 9 7

1 0 0 , 4 7 1 0 7 . 5 8 1 1 7 . 0 3 1 2 5 . 5 3

9 9 . 9 2 1 0 8 . 1 4 1 1 9 . 3 8 122.00

9 9 . 7 9 1 1 0 . 9 2 1 2 0 . 9 7 122.66

9 9 . 6 7 111.62 122.28 120.11

1 0 1 . 3 8 111.80 1 2 2 , 0 6 1 2 0 . 9 8

1 0 2 . 9 4 1 1 3 . 2 4 1 2 0 . 4 1 1 2 3 . 9 1

1 0 3 . 4 3 1 1 3 . 5 4 1 2 4 . 4 3 1 2 5 . 1 1

1 3 3 . 7 0 1 4 7 . 6 8 1 5 4 . 1 9 1 6 0 . 4 9

1 3 6 . 6 8 1 4 4 . 1 5 1 5 4 . 3 2 1 5 2 . 5 4

1 3 8 . 5 7 1 4 3 . 9 1 1 5 5 . 0 2 1 5 6 . 2 1

1 3 7 . 2 1 1 4 6 . 7 2 1 5 8 . 5 4 1 5 6 . 5 1

1 3 8 . 1 9 1 5 0 . 1 1 1 6 4 . 9 3 1 6 0 . 9 0

1 4 0 . 5 4 1 5 3 . 8 8 1 6 6 . 2 4 1 6 0 . 8 8

1 4 3 . 0 4 1 5 5 . 7 5 1 6 4 . 5 9 1 6 8 . 0 5

2 0 0 . 3 5 1 8 5 . 0 2 2 1 7 . 4 8 2 3 1 . 0 5

2 0 9 . 8 2 1 8 2 . 3 8 2 1 7 . 7 5 2 3 3 . 5 1

2 0 9 . 5 7 1 8 2 . 8 7 2 1 5 . 7 7 2 2 7 . 9 3

2 1 4 . 7 1 1 8 8 . 7 3 222 .01 2 2 6 - 5 9

2 1 4 . 9 6 1 9 7 . 7 2 2 2 2 . 4 9 2 2 1 . 8 0

1 9 7 . 0 5 1 9 9 . 7 0 222 .08 2 2 9 . 1 6

1 9 1 . 4 1 202.06 2 2 4 . 3 8 2 3 4 . 2 8

2 2 1 . 6 3 2 2 3 . 6 0

2 1 7 . 2 7 228 .10

2 1 4 . 3 2 2 3 0 . 5 9

2 1 5 . 4 2 2 3 5 . 4 2

2 1 7 . 0 5 2 2 4 . 9 7 2 3 1 , 4 0


CAC GENERAL INDEX NSA RBBASED TO 1 9 7 7 = 1 0 0

1261=100

DSER NOTES:SOURCE: LONDON FINANCIAL TIMES

1 9 7 8 - 1 9 5 . 6 0 9 9 . 8 2 1 0 0 . 3 3 1 0 0 . 0 2 1 0 0 . 0 2 1 0 3 . 4 5 1 0 2 . 9 4 1 0 2 . 7 4 1 0 0 . 2 3 1 0 2 . 6 4 1 0 0 . 7 3 9 9 . 2 2 1 9 7 8 - 1 3 9 9 . 0 2 9 7 . 6 1 9 7 . 9 1 9 8 . 6 2 1 0 0 . 8 3 1 0 1 . 2 3 1 0 0 . 6 3 1 0 1 . 6 3 1 0 2 . 0 4 1 0 1 . 5 3 1 0 3 . 6 5 1 0 2 . 7 4 1 9 7 8 - 2 5 1 0 1 . 1 3 9 8 . 9 2 9 6 . 6 0 9 9 . 8 2 * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * 1 9 7 8 - 3 7 * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * 1 9 7 8 - 4 9 1 0 1 . 1 3 1 0 0 . 1 2 9 7 . 0 1 9 9 . 2 2 * * * * * * * * *

1 0 0 . 4 3 9 0 . 4 6 9 9 . 7 2 1 0 0 . 5 3

1 9 7 9 - 1 1 0 2 . 3 4 1 0 4 . 8 5 1 9 7 9 - 1 3 * * * * * * * * * 1 0 1 . 0 3 1 9 7 9 - 2 5 1 0 8 . 7 8 1 1 0 . 9 9 1 9 7 9 - 3 7 1 2 1 . 2 6 1 2 7 . 5 0 1 9 7 9 - 4 9 1 1 1 . 4 0 1 1 0 . 1 9

1 0 4 . 4 5 * * * * * * * * * 1 0 3 . 2 4 9 9 . 7 2 9 9 . 1 2 9 6 . 2 0 1 0 4 . 5 5 1 0 4 . 7 5 1 0 5 . 6 6 1 0 6 . 8 7 1 0 5 . 6 6 1 0 4 . 3 5 1 0 8 . 2 8 1 0 8 . 2 8 1 0 6 , 8 7 1 0 8 . 0 7 1 0 9 . 4 8 1 1 1 . 6 0 1 1 7 . 4 3 1 2 1 . 2 6 1 2 3 . 5 7 1 1 8 . 7 4 1 1 7 . 3 3 1 1 7 . 4 3 1 0 9 . 5 8 1 1 0 . 9 9 * * * * * * * * *

9 6 . 8 0 * * * * * * * * * * * * * * * * * * * * * * * * * * * 1 0 4 . 9 5 1 0 4 . 4 5 1 0 3 . 3 4 1 0 6 . 4 6 1 1 3 . 4 1 1 1 3 . 1 1 1 1 7 . 6 3 1 1 7 . 4 3 1 1 2 . 3 0 1 1 3 . 7 1 1 1 7 . 1 3 1 1 0 . 8 9

1 9 8 0 - 1 1 9 8 0 - 13 1 9 8 0 - 2 5 1 9 8 0 - 3 7 1 9 8 0 - 4 9

9 7 . 0 1 1 0 4 . 5 5 1 0 8 . 1 8 112.20 1 1 5 . 3 2

1 0 2 . 1 4 1 0 3 . 0 4 1 0 9 . 5 8 1 1 3 . 2 1 1 1 2 . 8 0

1 0 2 . 1 4 1 0 3 . 7 5 1 0 8 . 1 8 1 1 1 . 5 0 1 1 4 . 2 1

1 0 7 . 4 7 1 0 4 . 9 5 1 0 8 . 9 8 1 1 1 . 7 0 1 1 3 . 3 1

1 1 0 . 1 9 1 0 4 . 7 5 1 0 8 . 2 8 1 1 3 . 4 1 1 1 2 . 7 0

1 1 1 . 0 9 1 0 4 . 9 5 1 0 8 . 3 8 1 1 5 . 7 2

1 1 5 . 6 2 1 0 5 . 7 6 1 0 8 . 3 8 116.12

1 1 5 . 2 2 1 0 7 . 5 7 1 0 8 . 3 8 1 1 8 . 0 4

1 1 2 . 4 0 1 0 8 . 4 8 1 0 9 . 7 9 1 2 1 . 0 6

1 1 2 . 9 0 1 1 0 . 5 9 1 1 0 . 0 9 1 2 0 . 7 5

1 0 8 . 8 8 1 0 9 . 4 8 1 1 1 . 2 9 1 1 9 . 7 5

1 0 6 . 2 6 1 1 0 . 2 9 112.00 1 1 8 . 8 4

1 9 8 1 - 1 1 9 8 1 - 1 3

1 0 7 . 0 7 1 1 1 . 7 9

1 0 5 . 2 6 1 0 9 . 2 8

1 0 6 . 2 6 1 0 9 . 5 8

1 0 4 . 5 5 1 1 1 . 7 9

1 0 6 . 9 7 1 0 8 . 7 7

1 0 7 . 5 7 1 0 9 . 8 8

1 0 8 . 7 8 9 6 . 2 0

1 0 8 . 9 8 8 7 . 7 4

1 1 0 . 6 9 8 8 . 5 5

1 1 2 . 4 0 1 1 2 . 4 0 1 1 2 . 3 0


PAZ AKTIEN NSA REBASED TO 1 9 7 7 = 1 0 0

5 8 = 1 0 0

OSEB NOTES:SOURCE: LONDON FINANCIAL TIMES

1 9 7 8 - 1 1 0 3 . 3 4 1 0 4 . 39 1 0 6 . 3 9 1 0 6 . 7 4 1 0 4 . 8 3 1 0 6 . 5 3 1 0 6 . 6 4 1 0 6 . 9 4 1 0 5 . 1 5 1 0 5 . 6 3 1 0 4 . 0 5 1 0 4 . 8 5 1 9 7 8 - 13 1 0 4 . 5 2 1 0 6 . 2 1 1 0 5 . 7 7 1 0 3 . 1 2 1 0 1 . 5 0 9 8 . 4 3 1 0 1 . 8 6 1 0 0 . 6 4 1 0 2 . 0 7 1 0 2 . 6 4 1 0 0 . 7 4 1 0 5 . 0 3 1 9 7 8 - 2 5 1 0 5 . 7 9 1 0 4 . 9 3 1 0 4 . 9 0 1 0 5 . 1 0 1 0 7 . 4 7 1 0 8 . 7 3 1 0 8 . 3 0 1 0 8 . 6 9 1 0 8 . 9 1 1 1 0 . 8 9 1 0 9 . 7 4 1 1 1 . 8 7 1 9 7 8 - 3 7 1 1 3 . 2 2 1 1 2 . 3 1 * * * * * * * * * 1 1 5 . 2 4 1 1 5 . 5 0 1 1 5 . 6 6 1 1 3 . 2 7 1 1 1 . 2 3 1 1 1 . 6 6 1 1 1 . 7 7 1 1 1 . 8 2 1 1 0 . 8 9 1 9 7 8 - 4 9 1 1 2 . 7 1 1 1 2 . 0 4 1 1 0 . 4 4 1 1 0 . 6 7 * * * * * * * * *

1 9 7 9 - 1 1 1 2 . 3 8 1 1 3 . 17 1 1 4 . 1 9 1 1 2 . 8 5 1 1 1 . 8 8 1 0 9 . 0 8 1 0 8 . 7 1 1 0 8 . 5 7 1 0 5 . 2 3 1 0 6 . 5 5 1 0 8 . 6 5 1 0 8 . 3 2 1 9 7 9 - 1 3 1 0 7 . 5 1 1 0 5 . 10 1 0 5 . 5 8 1 0 5 . 2 4 1 0 7 . 1 5 1 0 6 . 1 0 1 0 3 . 7 6 1 0 2 . 7 9 1 0 1 . 0 0 1 0 1 . 2 2 9 8 . 14 9 7 . 2 5 1 9 7 9 - 2 5 1 0 0 . 0 0 9 9 . 3 2 9 9 . 0 7 9 8 . 0 2 1 0 0 . 9 8 1 0 0 . 5 8 1 0 2 . 7 8 1 0 3 . 1 8 1 0 1 . 9 3 1 0 1 . 6 6 1 0 2 . 4 2 1 0 3 . 6 5 1 9 7 9 - 3 7 1 0 4 . 5 8 1 0 4 . 39 1 0 3 . 6 5 1 0 4 . 4 2 1 0 4 . 2 6 1 0 2 . 3 3 9 9 . 9 5 9 8 . 6 3 9 6 . 19 9 6 . 4 4 9 6 . 7 7 9 9 . 54 1 9 7 9 - 4 9 9 9 . 1 7 9 8 . 2 2 9 7 . 2 0 9 7 . 0 3 * * * * * * * * *

1 9 8 0 - 1 9 6 . 3 0 9 6 . 7 3 9 5 . 3 3 9 5 . 8 3 9 6 . 5 6 9 9 . 5 3 1 0 0 . 4 3 1 0 1 . 5 0 1 0 1 . 4 3 9 9 . 4 0 9 6 . 8 2 9 4 . 3 1 1 9 8 0 - 1 3 9 2 . 5 4 9 2 . 6 1 9 2 . 3 7 9 2 . 9 5 9 5 . 5 0 9 4 . 7 5 9 4 . 2 7 9 4 . 2 8 9 6 . 0 7 9 6 . 9 3 9 6 . 1 3 9 6 . 3 8 1 9 8 0 - 2 5 9 8 . 8 5 9 9 . 7 5 1 0 0 . 4 3 9 9 . 6 1 1 0 0 . 4 9 1 0 1 . 2 5 1 0 0 . 8 8 1 0 0 . 8 9 1 0 1 . 6 9 1 0 0 . 1 0 9 9 . 9 0 9 9 . 2 0 1 9 8 0 - 3 7 9 8 . 9 3 9 8 . 9 8 9 9 . 4 0 9 9 . 3 1 1 0 1 . 0 2 1 0 1 . 2 4 9 9 . 7 7 9 7 . 5 7 9 7 . 3 6 9 6 . 4 4 9 6 . 5 3 9 7 . 4 6 1 9 8 0 - 4 9 9 8 . 5 4 9 6 . 10 9 4 . 5 2 9 4 . 8 5 9 5 . 6 8

1 9 8 1 - 1 9 6 . 8 5 9 6 . 6 6 9 5 . 3 3 9 3 . 1 3 9 3 . 4 5 9 3 . 7 0 9 4 . 0 3 9 3 . 9 0 9 3 . 91 9 4 . 7 2 9 6 . 4 3 9 5 . 7 8 1 9 8 1 - 1 3 9 7 . 0 8 9 9 . 0 4 9 9 . 5 3 1 0 0 . 1 8 1 0 1 . 1 6 9 8 . 6 7 1 0 0 . 17 9 8 . 9 3 9 7 . 5 8


ANP-CBS INDUSTRIAL INDEX NSA REBASBD TO 1 9 7 7 = 1 0 0

7 0 = 1


1 9 7 8 - 1 9 6 . 5 6 9 6 . 8 1 9 6 . 8 1 9 6 . 8 1 9 6 . 2 0 1 9 7 8 - 13 9 2 . 9 6 9 2 . 0 0 9 5 . 4 8 9 5 . 2 4 9 5 . 1 2 1 9 7 8 - 2 5 1 0 2 . 9 3 1 0 0 . 4 1 9 8 . 9 7 9 9 . 6 9 1 0 1 . 1 3 1 9 7 8 - 3 7 1 1 1 . 2 2 1 0 7 . 9 8 1 0 5 . 8 1 1 0 7 . 0 1 1 0 5 . 0 9 1 9 7 8 - 4 9 9 5 . 3 6 9 4 . 4 0 9 4 . 6 4 9 7 . 5 3 * * * * * * * * *

1 9 7 9 - 1 8 5 . 6 4 9 9 . 9 3 1 0 1 . 0 1 1 0 3 . 1 7 1 0 1 . 6 1 1 9 7 9 - 1 3 9 4 . 2 8 9 2 . 9 6 9 4 . 1 6 9 3 . 6 8 9 3 . 2 0 1 9 7 9 - 2 5 8 6 . 6 0 8 8 . 7 6 8 9 . 2 4 8 8 . 2 8 8 6 . 8 4 1 9 7 9 - 3 7 8 9 . 9 6 8 9 . 0 0 9 0 . 0 8 8 9 . 9 6 8 9 . 2 4 1 9 7 9 - 4 9 8 0 . 5 9 7 9 . 6 3 7 9 . 3 9 8 1 . 4 3 * * * * * * * * *

1 9 8 0 - 1 8 1 . 7 9 8 1 . 9 1 8 0 . 5 9 7 9 . 7 5 8 0 . 4 7 1 9 8 0 - 13 7 0 . 5 0 7 3 . 7 4 7 5 . 5 5 7 7 . 9 5 7 8 . 7 9 1 9 8 0 - 2 5 7 8 . 3 1 7 6 . 6 3 7 3 . 9 9 7 5 . 9 1 7 6 . 8 7 1 9 8 0 - 3 7 7 6 . 6 3 7 7 . 2 3 7 4 . 4 7 7 2 . 7 8 7 4 . 2 3 1 9 8 0 - 4 9 7 3 . 6 2 7 2 . 7 8 7 3 . 9 9 7 3 . 7 4 7 3 . 9 9

1 9 8 1 - 1 7 8 . 9 1 7 7 . 11 7 7 . 1 1 7 7 . 9 5 7 9 . 8 7 1 9 8 1 - 1 3 8 2 . 0 3 8 2 . 1 5 8 3 . 3 5 8 4 . 3 1 8 7 . 2 0

9 7 . 6 5 9 5 . 0 0

1 0 1 . 1 3 1 0 5 . 2 1

9 8 . 1 3 9 2 . 2 4 8 7 . 3 2 8 7 . 3 2

8 0 . 5 9 8 6 . 2 4

9 8 . 0 1 9 6 . 3 2

1 0 1 . 1 3 1 0 0 . 8 9

9 9 . 0 9 9 1 . 7 6 8 9 . 4 8 8 4 . 1 9

8 0 . 7 1 8 4 . 3 1

9 5 . 6 0 9 7 . 2 9

1 0 2 . 0 9 9 7 . 5 3

9 8 . 2 5 8 9 . 3 6 9 1 . 7 6 8 4 . 4 3

7 9 . 0 3 7 6 - 9 9 7 9 . 3 9 7 6 . 7 5

8 0 . 4 7 8 4 . 7 9

9 5 . 7 2 9 9 . 9 3

1 0 3 . 4 1 9 9 . 0 9

9 5 . 0 0 8 7 . 3 2 9 2 . 0 0 8 0 . 3 5

7 6 . 1 5 7 7 . 3 5 8 0 . 4 7 7 8 . 0 7

7 7 . 8 3 8 5 . 4 0

9 4 . 8 8 1 0 2 . 3 3 1 0 8 . 5 8

9 9 . 8 1

9 5 . 3 6 8 7 . 8 0 9 1 . 4 0 8 1 . 6 7

7 7 . 1 1 7 8 . 5 5 7 8 . 1 9 7 7 . 1 1

7 6 . 8 7

9 3 . 8 0 1 0 3 . 6 5 1 1 0 . 1 4

9 8 . 6 1

9 2 . 6 0 8 5 . 7 6 9 0 . 0 8 8 1 . 4 3

7 4 . 9 5 7 8 . 6 7 7 8 . 6 7 7 6 . 7 5

8 0 . 2 3

9 3 . 3 2 1 0 3 . 6 5 1 1 0 . 3 8

9 6 . 2 0

9 1 . 0 4 8 6 . 4 8 9 0 . 9 2 8 0 . 3 5

7 2 . 5 4 7 9 . 5 1 7 7 . 71 7 6 . 5 1

8 0 . 7 1

8 0 . 9 5 7 9 . 3 9 7 7 . 2 3 * * * * * * * * * 7 9 . 6 3 7 9 . 6 3 7 7 . 5 9 7 7 . 5 9


NEW TOKYO STOCK EXCHANGE INDEX 1 / 7 3 = 1 0 0 NSA REBASED TO 1 9 7 7 = 1 0 0

USEfi NOTES:SOURCE: LONDON FINANCIAL TIMES

1 9 7 6 - 1 9 6 . 5 3 9 9 . 10 1 0 0 . 0 5 9 9 . 2 8 1 0 1 . 6 4 1 0 2 . 2 5 1 0 1 . 7 3 1 0 1 . 5 0 1 0 3 . 61 1 0 3 . 7 6 1 0 5 . 6 1 1 0 5 . 6 5 1 9 7 8 - 1 3 1 0 7 . 4 1 1 0 8 . 8 8 1 0 8 . 4 2 1 1 0 . 0 7 1 0 9 . 1 0 1 0 9 . 4 6 1 0 8 . 8 7 1 0 8 . 2 7 1 0 8 . 6 0 1 0 8 . 7 0 1 0 8 . 7 7 1 0 9 . 2 7 1 9 7 8 - 2 5 1 0 9 . 0 6 1 1 0 . 0 2 1 1 1 . 2 8 1 1 2 . 5 2 1 1 2 . 9 1 1 1 1 . 5 5 1 1 1 . 3 7 1 1 0 . 4 8 1 1 0 . 7 0 1 1 1 . 5 2 1 1 2 . 12 1 1 3 . 2 2 1 9 7 8 - 3 7 1 1 3 . 2 6 1 1 2 . 7 5 1 1 4 . 4 8 1 1 5 . 3 6 1 1 5 . 1 3 1 1 6 . 2 4 1 1 5 . 5 1 1 1 5 . 7 2 1 1 7 . 0 5 1 1 6 . 0 6 1 1 6 . 9 3 1 1 6 . 84 1 9 7 8 - 4 9 1 1 8 . 6 3 1 2 0 . 0 1 1 1 8 . 4 1 1 1 8 . 6 2 * * * * * * * * *

1 9 7 9 - 1 1 2 0 . 0 8 1 2 1 . 5 5 1 2 1 . 6 2 1 2 2 . 4 2 1 2 2 . 7 6 1 2 0 . 5 1 1 1 9 . 1 2 1 1 9 . 6 3 1 1 8 . 9 9 1 1 8 . 1 5 1 1 8 . 7 3 1 1 9 . 2 5 1 9 7 9 - 1 3 1 1 9 . 2 5 1 1 7 . 0 5 1 1 7 . 2 0 1 1 7 . 2 4 1 1 9 . 0 8 1 2 0 . 5 5 1 1 9 . 8 2 1 2 1 . 2 6 1 2 0 . 0 5 1 2 0 . 1 0 1 1 7 . 5 3 1 1 6 . 6 4 1 9 7 9 - 2 5 1 1 8 . 1 3 1 1 8 . 62 1 1 9 . 1 7 1 1 7 . 0 0 1 1 6 . 3 3 1 1 7 . 5 2 1 1 8 . 0 9 1 1 8 . 6 8 1 2 0 . 18 1 1 9 . 8 3 1 2 0 . 2 4 1 1 9 . 8 5 1 9 7 9 - 3 7 1 2 0 . 6 5 1 2 0 . 9 9 1 1 9 . 9 9 1 2 0 . 6 5 1 1 9 . 4 5 1 2 0 . 2 8 1 1 5 . 7 7 1 1 9 . 0 6 1 1 7 . 6 8 1 1 8 . 1 2 1 1 6 . 7 4 1 1 8 . 6 6 1 9 7 9 - 4 9 1 1 9 . 8 1 1 2 0 . 2 7 1 2 0 . 14 1 2 1 . 0 5 * * * * * * * * *

1 9 8 0 - 1 1 2 1 . 8 7 1 2 1 . 9 5 1 2 2 . 8 2 1 2 3 , 3 6 1 2 4 . 1 2 1 2 4 . 4 2 1 2 5 . 1 5 1 2 4 . 9 0 1 2 4 . 3 7 1 2 3 . 5 7 1 2 0 . 5 6 1 1 9 . 8 3 1 9 8 0 - 1 3 1 2 0 . 4 3 1 1 9 . 9 9 1 2 1 . 0 3 1 2 2 . 3 2 1 2 3 . 3 6 1 2 4 . 0 4 1 2 4 . 4 8 1 2 4 . 4 8 1 2 3 . 8 3 1 2 3 . 9 2 1 2 3 . 0 7 1 2 3 . 6 8 1 9 8 0 - 2 5 1 2 4 . 2 7 1 2 4 . 46 1 2 4 . 4 8 1 2 4 . 3 3 1 2 4 . 4 0 1 2 4 . 5 6 1 2 4 . 3 1 1 2 3 . 4 8 1 2 5 . 8 2 1 2 6 . 8 5 1 2 6 . 8 6 1 2 7 . 2 1 1 9 8 0 - 3 7 1 2 7 . 5 6 1 2 8 . 9 0 1 2 7 . 7 8 1 2 9 . 9 5 1 3 0 . 2 4 1 3 1 . 7 6 1 3 1 . 2 9 1 3 0 . 8 7 1 3 1 . 5 9 1 3 1 . 0 5 1 3 1 . 0 1 1 3 1 . 2 0 1 9 8 0 - 4 9 1 3 0 . 3 7 1 2 9 . 7 4 1 2 9 . 3 5 1 2 9 . 8 9 1 3 0 . 2 2

1 9 8 1 - 1 1 3 2 . 8 5 1 3 3 . 7 0 1 3 4 . 8 9 1 3 4 . 9 6 1 3 5 . 3 4 1 3 4 . 5 3 1 3 3 . 3 3 1 3 3 . 8 9 1 3 5 . 2 8 1 3 4 . 4 2 1 3 7 . 1 6 1 4 0 . 3 2 1 9 8 1 - 1 3 1 4 1 . 5 5 1 4 4 . 3 3 1 4 4 . 4 7 1 4 6 . 8 3 1 4 7 . 5 2 1 4 6 . 4 1 1 4 6 . 1 9 1 4 4 . 9 9 1 4 7 . 8 2


SWISS BANK CORPORATION INDEX 1 2 6 8 = 1 0 0 NSA RBBASBD TO 1 9 7 7 = 1 0 0


1 9 7 8 - 1 9 7 . 5 2 9 8 . 8 6 1 0 0 . 9 7 1 0 3 . 1 5 1 0 4 . 7 2 1 0 6 . 5 6 1 0 8 . 4 7 1 0 5 . 2 9 1 0 1 . 5 4 9 7 . 0 1 9 8 . 5 6 9 8 . 2 2 1 9 7 8 - 1 3 9 9 . 0 6 9 8 . 9 2 9 7 . 6 5 9 6 . 7 8 9 3 . 7 0 9 4 . 2 3 9 7 . 5 2 9 8 . 1 2 9 7 . 5 8 9 6 . 5 4 9 7 . 8 9 9 7 . 89 1 9 7 8 - 2 5 9 8 . 3 9 9 8 . 4 5 9 7 . 3 2 9 8 . 0 5 9 7 . 6 8 9 7 . 7 2 9 6 . 9 8 9 8 . 3 2 9 7 . 2 8 9 6 . 5 1 9 6 . 3 8 9 7 . 3 2 1 9 7 8 - 3 7 9 5 . 9 8 9 3 . 2 9 8 9 . 8 1 9 0 . 3 8 8 9 . 0 7 8 9 . 3 4 9 0 . 3 8 8 7 . 9 7 9 2 . 3 2 9 4 . 2 3 9 5 . 6 7 9 4 . 5 0 1 9 7 8 - 4 9 9 6 . 0 4 * * * * * * * * * 9 5 . 0 0 9 7 . 2 2 * * * * * * * * *

1 9 7 9 - 1 9 8 . 5 2 1 0 0 . 6 3 1 0 0 . 7 3 1 0 0 . 7 0 1 0 7 . 1 0 1 0 4 . 7 2 1 0 7 . 0 3 1 0 7 . 7 7 1 0 4 . 7 5 1 0 5 . 5 6 1 0 5 . 0 9 1 0 6 . 7 3 1 9 7 9 - 13 1 0 7 . 1 3 1 0 6 . 7 7 1 0 7 . 2 7 1 0 7 . 6 4 1 0 7 . 9 7 1 1 0 . 2 8 1 0 9 . 0 1 1 0 8 . 8 1 1 0 6 . 9 7 1 0 4 . 3 9 1 0 2 . 9 5 1 0 3 . 7 5 1 9 7 9 - 2 5 1 0 2 . 3 8 1 0 3 . 5 2 1 0 3 . 9 5 1 0 3 . 6 5 1 0 3 . 3 5 1 0 4 . 19 1 0 5 . 9 6 1 0 6 . 5 3 1 0 7 . 13 1 0 8 . 7 4 1 0 7 . 7 7 1 0 7 . 9 1 1 9 7 9 - 3 7 1 0 6 . 8 7 1 0 6 . 8 7 1 0 7 . 8 0 1 0 6 . 9 3 1 0 8 . 8 1 1 0 7 . 7 0 1 0 7 . 6 0 1 0 5 . 2 9 1 0 2 . 6 4 1 0 1 . 2 4 1 0 1 . 8 4 1 0 1 . 60 1 9 7 9 - 4 9 1 0 3 . 0 8 1 0 2 . 0 4 1 0 1 . 7 1 1 0 1 . 0 7 * * * * * * * * *

1 9 8 0 - 1 1 0 1 . 8 4 1 0 2 . 8 4 1 0 3 . 3 1 1 0 2 . 7 1 1 0 3 . 8 2 104 , . 6 5 1 0 6 . 3 6 1 0 5 . 9 3 1 0 4 . 3 5 1 0 2 . 0 1 9 8 . 3 2 9 5 . 34 1 9 8 0 - 1 3 9 4 . 3 0 9 4 . 17 9 3 . 9 6 9 4 . 8 0 9 5 . 8 7 9 7 . 4 8 9 6 . 8 5 9 6 . 8 5 9 8 . 3 5 9 8 . 9 9 9 8 . 4 5 9 8 . 7 6 1 9 8 0 - 2 5 1 0 0 . 0 3 1 0 1 . 0 0 1 0 1 . 8 1 1 0 0 . 9 3 1 0 2 . 1 4 1 0 3 . 8 0 1 0 3 . 9 5 1 0 3 . 7 2 1 0 4 . 12 1 0 4 . 4 9 1 0 3 . 7 8 1 0 5 . 8 3 1 9 8 0 - 3 7 1 0 4 . 2 9 1 0 3 . 8 8 1 0 3 * 1 8 1 0 2 . 6 1 1 0 2 . 4 1 1 0 2 . 11 1 0 1 . 84 1 0 1 . 8 7 1 0 4 . 0 2 1 0 2 . 5 4 1 0 1 . 7 7 9 9 . 9 6 1 9 8 0 - 4 9 1 0 0 . 0 0 9 9 . 0 6 1 0 0 . 1 3 9 9 . 5 9 1 0 0 . 3 3

1 9 8 1 - 1 1 0 1 . 7 4 1 0 0 . 9 0 9 9 . 5 3 9 8 . 0 2 9 6 . 9 1 9 7 . 4 8 9 9 . 1 3 9 7 . 9 9 9 8 . 9 9 9 8 . 0 9 9 9 . 19 1 0 0 . 16 1 9 8 1 - 1 3 1 0 1 . 3 0 1 0 1 . 2 0 1 0 0 . 1 6 9 9 . 9 3 9 9 . 7 6 9 9 . 1 3 9 8 . 4 6 9 5 . 9 4 9 3 . 7 6


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

MEEKLY AVERAGES, NOON BUYING RATES ( U . S . CENTS)

GERMAN MARK JUNE 3 4 2 . 6 6 JAPANESE YEN JUNE 3 0 . 4 4 7 3 7 DUTCH GUILDER JUNE 3 3 8 . 3 7 U . K . POUND JUNE 3 2 0 4 . 9 5 CANADIAN DOLLAR JUNE 3 8 2 . 9 7 FRENCH FRANC JUNE 3 1 7 . 9 7 SWISS FRANC JUNE 3 4 8 . 0 0 BELGIAN FRANC JUNE 3 2 . 6 1 6 7 4 ITALIAN LIRA JUNE 3 0 . 0 8 5 8 3

I N D I C E S , MARCH 1 9 7 3 BASE RATES = 1 0 0

GERMAN MARK JUNE 3 1 2 0 . 0 1 JAPANESE YEN JUNE 3 1 1 7 . 1 4 DUTCH GUILDER JUNE 3 1 1 0 . 1 7 U . K . POUND JUNE 3 8 2 . 8 9 CANADIAN DOLLAR JUNE 3 8 2 . 6 9 FRENCH FRANC JUNE 3 8 0 . 9 8 SWISS FRANC JUNE 3 1 5 4 . 4 3 BELGIAN FRANC JUNE 3 1 0 3 . 1 1 ITALIAN LIRA JUNE 3 4 8 . 7 6

WEIGHTED AVERAGE EXCHANGE VALUE I N D I C E S , MAR 1 9 7 3 = 1 0 0 ( G - 1 0 COUNTRIES PLUS SWITZERLAND)

U . S . DOLLAR JUNE 3 1 0 5 . 3 5 GERMAN MARK JUNE 3 1 3 0 . 6 3 JAPANESE YEN JUNE 3 1 2 4 . 9 8 DUTCH GUILDER JUNE 3 1 1 5 . 8 8 U . K . POUND JUNE 3 8 5 . 0 6 CANADIAN DOLLAR JUNE 3 8 5 . 1 6 FRENCH FRANC JUNE 3 8 2 . 7 4 SWISS FRANC JUNE 3 1 6 3 . 1 1 BELGIAN FRANC JUNE 3 1 0 7 . 8 3 ITALIAN LIRA JUNE 3 4 8 . 2 3 SWEDISH KRONA JUNE 3 9 2 . 7 2

CHART 2 . 3-MONTH FORWARD EXCHANGE RATES, PREMIUM OR DISCOUNT

CANADIAN DOLLAR JUNE 3 - 0 . 8 9 U . K . POUND JUNE 3 5 . 6 0 GERMAN MARK JUNE 3 5 . 2 7 FRENCH FRANC JUNE 3 - 4 . 3 6 SWISS FRANC JUNE 3 8 . 0 0 DUTCH GUILDER JUNE 3 5 . 9 2 JAPANESE YEN JUNE 3 1 0 . 3 7 ITALIAN LIRA JUNE 3 - 4 . 2 8


S E R I E S NAME LAST VALUE PLOTTED

DATE VALUE

CHAfiT 3 . GOLD PRICE IN LONDON, AFTERNOON FIXING

U . S . DOLLARS PER F I N E OUNCE JUNE 3 4 7 8 . 2 0

CHART 4 . CALL MONEY RATES

U . S . FEDERAL FUNDS OVERNIGHT EURO-DOLLAR DEPOSITS U . K . 2-DAY LOCAL AUTHORITY DEPOSITS CANADA GERMANY EURO-DH JAPAN FRANCE NETHERLANDS EURO-SWISS FRANC

JUNE 3 JUNE 3

MAY 29 MAY 2 9 MAY 29 MAY 2 2 MAY 2 9 MAY 2 9

APRIL 2 4 MAY 2 2

1 8 . 4 0 1 7 . 8 3 1 1 . 7 5 1 7 . 1 0 1 1 . 5 0 1 0 . 2 5

6 . 9 4 20.00

9 . 9 0 1 0 . 8 3

CHART 5 . 3-MONTH INTEREST RATES

U . S . 90-DAY C D ' S , SECONDARY MARKET JUNE 3 1 7 . 2 5 GERMAN INTERBANK LOAN JUNE 3 1 3 . 2 7 JAPANESE BANK LOANS & DISCOUNTS JUNE 3 7 . 4 4 CANADIAN FINANCE PAPER JUNE 3 1 9 . 0 6 INTERBANK STERLING JUNE 3 1 2 . 4 4 SWISS INTERBANK LOAN JUNE 3 9 . 9 5 WEIGHTED AVERAGE FOREIGN INTEREST RATE JUNE 3 1 3 . 6 5

( G - 1 0 COUNTRIES PLUS SWITZERLAND)

CHART 6 . EURO-DOLLAR DEPOSIT RATES: LONDON

OVERNIGHT JUNE 3 1 7 . 8 3 7-DAY JUNE 3 1 8 . 0 0 1-MONTH JUNE 3 1 8 . 0 6 3-MONTH JUNE 3 1 7 . 9 7 6-MONTH JUNE 3 1 6 . 9 1 1-YEAR JUNE 3 1 6 . 2 7

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

OVERNIGHT EURO-DOLLAR DEPOSITS JUNE 3 1 7 . 8 3 U . S . FEDERAL FUNDS JUNE 3 1 8 . 4 0 DIFFERENTIAL ADJ. FOR RESERVE REQUIREMENTS JUNE 3 - 0 . 5 7

3-MONTH EURO-DOLLAR DEPOSIT RATE JUNE 3 1 7 . 9 7 U . S . 90-DAY C D ' S , SECONDARY MARKET JUNE 3 1 7 . 2 5 DIFFERENTIAL JUNE 3 0 . 7 3


SERIES NAME LAST 7ALOE PLOTTED

DATE VALUE

CHART 8 . INTEREST ARBITRAGE, 3-MONTH FUNDS

EURO-DOLLAR DEPOSIT JUNE 3 1 7 . 9 7 INTERBANK STERLING (LONDON), COVERED JUNE 3 1 8 . 21 DIFFERENTIAL JUNE 3 - 0 . 23

U . S . COMMERCIAL PAPER JUNE 3 1 6 . 6 3 CANADIAN FINANCE PAPER, COVERED JUNE 3 1 8 . 13 DIFFERENTIAL JUNE 3 - 1 . 50

EURO-DOLLAR DEPOSIT JUNE 3 1 7 . 97 INTERBANK DM (FRANKFURT), COVERED JUNE 3 1 8 . 72 DIFFERENTIAL JUNE 3 - 0 . 75

EURO-DOLLAR DEPOSIT JUNE 3 1 7 . 97 SWISS INTERBANK, COVERED JUNE 3 1 8 . 15 DIFFERENTIAL JUNE 3 - 0 . 18

i . LONG TERM GOVERMENT BOND YIELDS

UNITED STATES MAY 29 1 3 . 61 GERMANY MAY 2 2 1 1 . 05 JAPAN (MONTHLY) APRIL 7 . 90 SWITZERLAND MAY 15 5 . 82 CANADA MAY 29 1 4 . 96 FRANCE MARCH 13 1 5 . 09 NETHERLANDS APRIL 24 1 0 . 91 UNITED KINGDOM MAY 29 1 1 . 81

U . S . CORPORATE

APRIL 1 3 . 8 8 APRIL 1 2 . 5 1

CHART 1 0 . STOCK INDICES

UNITED STATES MAY 2 7 1 3 9 . , 6 7 UNITED KINGDOM MAY 27 1 1 9 . . 91 CANADA MAY 2 7 2 3 5 . , 42 GERMANY MAY 27 9 7 . , 5 8 SWITZERLAND MAY 2 7 9 3 . , 7 6 NETHERLANDS MAY 27 8 5 . 4 0 FRANCE MAY 27 8 8 . , 5 5 JAPAN MAY 2 7 1 4 7 . 82

AAA BONDS EURO-DOLLAR BONDS


FEDERAL RESERVE statistical release

" " 1 0 ( 5 1 2 1 . FOREIGN EXCHANGE RATES

FOB THE WEEK ENDING JUNE 5 , 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 tRAl CE U . S . CENTS]

COUNTRY MONETARY

UNIT JUNE 1 JUNE 2 JUNE 3 JUNE 4 JUNE 5

AUSTRALIA DOLLAR 1 1 4 . 1 1 0 0 1 1 3 . 7 5 0 0 1 1 3 . 7 3 0 0 1 1 2 . 8 0 0 0 1 1 2 . 6 0 0 0 AUSTRIA SCHILLING 6 . 0 9 0 1 3 5 . 9 7 0 1 5 5 . 9 9 1 6 2 5 . 9 1 0 1 7 5 . 8 4 1 1 2 BELGIUM FRANC * 2 . 6 2 9 5 0 2 . 5 9 0 0 0 2 . 5 9 4 0 3 2 . 5 4 2 5 9 2 . 5 3 8 7 2 CANADA DOLLAR 8 2 . 9 1 8 8 8 2 , 7 8 8 4 8 2 . 8 5 0 1 8 2 . 6 1 0 5 8 2 . 8 5 6 9 DENMARK KRONE 1 3 . 6 2 9 5 1 3 . 4 7 7 1 1 3 - 4 1 2 0 1 3 . 1 5 7 9 1 3 . 1 3 2 0 FINLAND MARKKA 2 2 . 9 2 2 6 2 2 . 6 6 0 3 2 2 . 6 6 5 5 2 2 . 3 9 6 4 2 2 . 2 3 2 1 FRANCE FRANC 1 8 . 0 0 3 4 1 7 . 8 1 7 4 1 7 . 9 2 1 1 1 7 . 6 1 4 9 1 7 . 5 1 3 1 GERMANY D. MARK 4 2 . 8 2 6 6 4 2 . 1 7 6 3 4 2 . 3 6 3 9 4 1 . 4 2 5 0 4 1 . 4 7 6 6 I N D I A RUPEE 1 1 . 7 6 4 7 1 1 . 7 6 4 7 1 1 . 7 2 3 3 1 1 . 6 6 8 6 1 1 . 6 2 7 9 IRELAND POUND 1 5 7 . 0 0 0 0 1 5 5 . 1 0 0 0 1 5 5 . 2 5 0 0 1 5 2 . 4 5 0 0 1 5 1 . 0 0 0 0 ITALY LIRA 0 . 0 8 6 2 4 0 . 0 8 5 3 2 0 . 0 8 5 1 6 0 . 0 8 2 9 9 0 . 0 8 2 5 1 JAPAN YEN 0 . 4 4 9 4 4 0 . 4 4 6 7 3 0 . 4 4 7 6 3 0 . 4 4 1 7 0 0 . 4 3 8 9 8 MALAYSIA DOLLAR 4 2 . 5 8 0 4 4 2 . 4 9 8 9 4 2 . 4 6 2 8 4 2 . 2 4 7 6 4 2 . 2 1 1 9 MEXICO PESO 4 . 1 2 7 1 4 . 1 2 3 7 4 . 1 2 2 0 4 . 1 2 2 0 4 . 1 1 6 1 NETHERLANDS GUILDER 3 8 . 5 3 5 6 3 7 . 9 8 6 7 3 8 . 1 0 2 5 3 7 . 1 1 9 5 3 7 . 2 4 3 9 NEW ZEALAND DOLLAR 8 7 . 2 5 0 0 8 7 . 1 2 0 0 8 6 . 5 5 0 0 8 5 . 3 2 0 0 8 4 . 9 5 0 0 NORWAY KRONE 1 7 . 4 1 5 5 1 7 . 2 3 3 9 1 7 . 1 6 7 4 1 6 . 9 0 6 2 1 6 . 7 0 8 4 PORTUGAL ESCUDO 1 . 6 2 6 0 1 . 6 0 0 0 1 . 6 0 5 1 1 . 5 5 8 8 1 . 5 6 7 4 SOUTH AFRICA RAND 1 1 7 . 9 5 0 0 1 1 7 . 2 5 0 0 1 1 6 . 5 5 0 0 1 1 5 . 6 7 0 0 1 1 4 . 4 0 0 0 SPAIN PESETA 1 . 0 8 5 8 1 . 0 6 7 2 1 . 0 6 9 3 1 . 0 5 3 2 1 . 0 4 1 7 S R I LANKA RUPEE 5 . 4 1 4 2 5 . 4 1 4 2 5 . 4 1 4 2 5 . 4 1 4 2 5 . 4 1 4 2 SWEDEN KSONA 2 0 . 1 8 9 8 2 0 . 0 3 0 0 1 9 . 9 3 6 2 1 9 . 6 5 0 2 1 9 . 5 5 8 0 SWITZERLAND FRANC 4 8 . 1 6 9 6 4 7 . 5 7 3 7 4 7 . 8 4 6 9 4 6 . 6 4 1 8 4 6 . 8 3 8 4 UNITED KINGDOM POUND 2 0 5 . 7 5 0 0 2 0 3 . 6 0 0 0 2 0 1 . 6 0 0 0 1 9 4 . 0 0 0 0 1 9 3 . 0 0 0 0

f t * . * #

JUNE 8 , 1 9 8 1


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