(516/517)

__2liZL.

MAY 21

198)

FEDERAL REUE,WE BANK OF BOSTON

Selected Inte Exchange Rates

Weekly Series of Charts

May 11,1981

DIVISION OF INTERNATIONAL FINANCE

Prepared by the FINANCIAL MARKETS SECTION

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

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

Table of Contents

TABLES

SUBSCRIPTION RATES:

1. LATEST FIGURES PLOTTED

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, Division 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.

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

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

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

RATIO SCALE MARCH 1973=100

120

120 —

100

A

Y1"-

80

U.K. POUND



yvV

,-J





100

T s

FOREIGN CURRENCY PRICE OF U.S. DOLLAR

80

• " d ' X r

I

I

I

I

I

I

„l n lull"

FRENCH FRANC

120

K

GERMAN MARK " I I I

I

I

60

100

, 11111,, I ,T

I

80

JAPANESE YEN

SWISS FRANC





160



140

-

120

BELGIAN FRANC —

A

\ DUTCH GUILDER " i l l

I

I

-

I

100

60

100



80

ITALIAN LIRA

-

.

II

100



'

80

60

CANADIAN DOLLAR

11

40

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

1979

I 1981

I

I

I

I 1979

I

I ill I lull Iill 11 hili i 1981

40

CHART 2

3-MONTH FORWARD EXCHANGE RATES PREMIUM (+) OR (-) AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER Ah

:ent p e r annum

6

24

CANADIAN DOLLAR

ITALIAN LIRA

-

+

0

V I

I I II I

6

-



V

0

24

6

12 DUTCH GUILDER

U. K. POUND

+

0

6

6

0

>

12

6 18

12

GERMAN MARK

SWISS FRANC -

4/

I A

-

y

6

12

6

+

0

-

I

I

I

I

I

0

I

12 12 FRENCH FRANC

JAPANESE YEN

6 6 +

0 +

0 6

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

6 1979

1981

1979

1981

CHART 3

PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY U.S. D< -LARS PER FINE OUNCE

U.S. DOLLARS PER FINE (

800

800

750

750

700

700

650

650

600

600

550

550

500

500

12.5 Kg BARS AFTERNOON FIXING PRICE

450

450

400

400

350

350

300

300

250

250

200

200

150

150

I I I I I I I I I

100 1978

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

1979

1980

I I I I I I I I 1981

100

CHART 4

CALL MONEY RATES WEEKLY SERIES PERCENT PER

28

28

24

24 U. K. 2-DAY LOCAL AUTHORITY

U. S. FEDERAL FUNDS

20

20

16

16

12

12

8

8

4

4

24

24

20

20

16

16

CANADA

EURO-SWISS FRANC

12

12

8

8

NETHERLANDS

4

4 +

+

0

0

16

16 FRANCE 12

12

GERMANY

8

8 JAPAN

4

4 EURO-DM

0

0

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

1979

1981

1979

1981

CHART 5

3-MONTH INTEREST RATES WEEKLY SERIES PER ANNUM

PERCENT PER

20

20 U. S. CD' S

16

16

12

12

U.K. INTERBANK STERLING

8

8 WEIGHTED AVERAGE FOREIGN RATE

4

4

22

16

18

CANADIAN FINANCE CO. PAPER

12

GERMAN INTERBANK RATE

14

8

10

4

0

6 16

12

JAPANESE BANK LOANS AND DISCOUNTS SWISS INTERBANK RATE

8

12

8

4

0

4

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

1979

1981

1979

1981

CHART 6

EURO-DOLLAR DEPOSIT RATES

LONDON

AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER M

ENT PER ANNUM

24

24

20

3-MONTH

OVERNIGHT

20

16

16

12

12

8

8

4

4

24

24

6-MONTH

7-DAY

20

20

16

16

12

12

8

8

4

4

24

24

1-MONTH

20

1-YEAR

20

16

16

12

12

8

8

4

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

4 1979

1981

1979

1981

«

'

,

/

CHART 7

EURO-DOLLAR AND U. S. MONEY MARKET RATES l/:V - v i '/,> > < '

DIFFERENTIAL: PLUS(+), FAVORS BORROWING IN U. S. AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER ANNUM

PERCENT PER ANNUM

26

26

22

-

18

-

FEDERAL FUNDS



A

-

-

-

V J



-

tyll

EURO-DOLLAR DEPOSITS

-

\

|

J

ju OVERNIGHT

|

-

T

I I I

11

DAY CD

-

10

-

2

-

2

-

3

-

E U R O - D O L L A R DEPOSITS 11

11

I l

I I I I I l

DIFFERENTIAL

1979 1 PERCENT ON D I F F E R E N T I A L S C A L E = 2 PERCENT ON RATE S C A L E

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

18

3-MONTH

14

I

-

6

\

\

If (ft

II\ A

14

10

22

-

I I I

DIFFERENTIAL

1981

1979

1981

CHART 8

INTEREST ARBITRAGE: 3-MONTH FUNDS DIFFERENTIAL: PLUSW, INDICATES FAVOR DOLLAR ASSETS AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER ANNUM

PERCENT PER ANNUM

28

28

CANADIAN FINANCE CO. PAPER, COVERED

EURO-DOLLAR DEPOSITS 20

12

INTERBANK STERLING

U. S. COMMERCIAL PAPER

COVERED LONDON

DIFFERENTIAL

DIFFERENTIAL



Y~



W

V

^

I

I

I

-

y x iV :

INTERBANK DM COVERED FRANKFURT

SWISS INTERBANK (SF) COVERED

EURO-DOLLAR DEPOSITS

DIFFERENTIAL ^A/VVI—^

I I I ! 1979

1

| IIIIIIIIIII

EURO-DOLLAR DEPOSITS

DIFFERENTIAL

A

YV.

I -

1981

1 PERCENT ON DIFFERENTIAL SCALE = 2 PERCENT ON RATE SCALE

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

1979

1981

CHART 9

LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES ENT PER ANNUM

PERCENT PER Ah 15

15

CAN ADA 13

UNITED STATES

-

r

-

13

11

11

9

9

l l l l 111

7

~l

I

i

!I I III I I I I I

7

12

9

10

7

SWITZERLAND

8

5

I

GERMANY

i

-

!

3

6

I

4

i

i

I

i

I

I I I I i i i i i I !

16

1 17

FRANCE

14

15

UNITED KINGDOM 12

13

10

11

8

9

NETHERLANDS

6 14

7

U. S. CORPORATE

12

MONTHLY

Aaa B O N D S

1

13

MONTHLY

JAPAN

11

^

10

8

9

7

E U R O - D O L L A R BONDS

6

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

5 1979

1981

1979

1981

CHART 10

INDUSTRIAL STOCK INDICES WEEKLY SERIES RATIO SQALE 1969=100

RATIO SCALE 1969=100

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

180 160

-

UNITED STATES

140

120 FRANCE GENERAL

INDEX

-

100

80



—I100





90

SWITZERLAND

JAPAN

A

f f

V

\

A

V A

80 v

V

70

-

-

II I

1 1 , 1 1 1 1 1 , 1 1 1 50 160



UNITED KINGDOM

-

60



140

GERMANY

-

pIV

/ w

~120 -

-

100

, 1 1 1 1 1 1 1 1 I I II L I i iIi l li n i l i 80 1 1979

1981

1979

1981

L A S T V A L U E PLOTTED DATE VALUE

SERIES NAME CHART 1. SPOT E X C H A N G E R A T E S AND I N D I C E S

W E E K L Y A V E R A G E S , N O O N BUYING R A T E S

(U.S. CENTS)

G E R M A N MARK J A P A N E S E YEN DUTCH G U I L D E R U.K. POUND C A N A D I A N DOLLAR FRENCH FRANC SWISS F R A N C BELGIAN FRANC I T A L I A N LIRA INDICES, MARCH

MAY MAY MAY MAY MAY MAY MAY MAY MAY

6 6 6 6 6 6 6 6 6

44.,72 0.,46155 40.,25 212.,62 83.,40 18.,81 48.,94 2.,74511 0.,08992

MAY MAY MAY MAY MAY MAY MAY MAY MAY

6 6 6 6 6 6 6 6 6

125.80 120.85 115.55 86.00 83.13 84.75 157.44 108.17 51.08

6 6 6 6 6 6 6 6 6 6 6

101. 41 133. 34 125. 15 118. 09 85. 69 82. 92 84. 18 161. 33 109. 88 49. 10 92. 94

6 6 6 6 6 6 6 6

-0.37 6.02 5.52 1.77 9.09 3.82 10.93 -1.24

1973 B A S E RATES = 100

G E R M A N MARK J A P A N E S E YEN DUTCH G U I L D E R U.K. POUND CANADIAN DOLLAR FRENCH FRANC SWISS F R A N C BELGIAN FRANC I T A L I A N LIRA W E I G H T E D A V E R A G E E X C H A N G E V A L U E I N D I C E S , MAR (G-10 C O U N T R I E S PLUS S W I T Z E R L A N D ) U . S . DOLLAR G E R M A N MARK J A P A N E S E YEN DUTCH GUILDER U.K. POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC BELGIAN F R A N C I T A L I A N LIRA S W E D I S H KRONA

1973 = 100

MAY MAY MAY MAY MAY MAY MAY MAY MAY MAY MAY

C H A R T 2. 3 - M O N T H F O R W A R D E X C H A N G E R A T E S , PREMIUM OR D I S C O U N T CANADIAN DOLLAR U.K. P O U N D G E R M A N MARK FRENCH F R A N C SWISS F R A N C DUTCH GUILDER J A P A N E S E YEN I T A L I A N LIRA Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

MAY MAY MAY MAY MAY MAY MAY MAY

LAST VALUE PLOTTED DATE VALUE

SERIES NAME

CHART 3. G O L D P R I C E IN LONDON, A F T E R N O O N FIXING U . S . D O L L A R S PER

FINE O U N C E

SAY

6

482.12

6 MAY 6 MAY 1 MAY 1 MAY 1 MAY A P R I L 10 MAY 1 1 MAY 3 APRIL A P R I L 10

18.,91 19..25 12.,00 17.,00 11.,00 11.,45 7.,06 12.,25 9..05 6. 73

MAY MAY MAY MAY MAY MAY MAY

6 6 6 6 6 6 6

17. 44 12. 96 7. 25 18. 15 12. 50 9. 56 12. 71

MAY MAY MAY MAY MAY MAY

6 6 6 6 6 6

19. 25 18. 42 18. 48 18. 39 18. 24 17. 46

OVERNIGHT EURO-DOLLAR DEPOSITS U.S. F E D E R A L FUNDS D I F F E R E N T I A L ADJ. FOR R E S E R V E R E Q U I R E M E N T S

MAY MAY MAY

6 6 6

19. 25 18. 91 34

3-MONTH EURO-DOLLAR DEPOSIT RATE U . S . 90-DAY C D ' S , SECONDARY M A R K E T DIFFERENTIAL

MAY MAY MAY

6 6 6

18. 39 17. 44 95

CHART 4. CALL MONEY R A T E S U.S. F E D E R A L F U N D S OVERNIGHT EURO-DOLLAR DEPOSITS U . K . 2 - D A Y L O C A L AUTHORITY D E P O S I T S CANADA GERMANY EURO-DM JAPAN FRANCE NETHERLANDS EURO-SWISS FRANC CHART 5. 3 - M O N T H I N T E R E S T R A T E S U.S. 9 0 - D A Y C D ' S , SECONDARY M A R K E T G E R M A N I N T E R B A N K LOAN J A P A N E S E BANK L O A N S S D I S C O U N T S C A N A D I A N F I N A N C E PAPER I N T E R B A N K STERLING SWISS I N T E R B A N K L O A N W E I G H T E D A V E R A G E FOREIGN INTEREST R A T E (G-10 C O U N T R I E S PLUS S W I T Z E R L A N D ) CHART 6. E U R O - D O L L A B D E P O S I T R A T E S : L O N D O N OVERNIGHT 7-DAY 1-MONTH 3-MONTH 6-MONTH 1-YEAR CHART 7. SELECTED E U R O - D O L L A R

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

AND U.S. MONEY M A R K E T R A T E S

0.

0.

SERIES N A M E

L A S T V A L U E PLOTTED DATE VALUE

CHART 8. INTEREST A R B I T R A G E , 3-MONTH F U N D S EURO-DOLLAR DEPOSIT INTERBANK STERLING (LONDON), C O V E R E D DIFFERENTIAL

MAY MAY MAY

6 6 6

18.39 18.70 -0.32

U.S. C O M M E R C I A L PAPER CANADIAN FINANCE PAPER, COVERED DIFFERENTIAL

MAY MAY MAY

6 6 6

16.84 17.77 -0.67

EURO-DOLLAR DEPOSIT I N T E R B A N K DM (FRANKFURT), C O V E R E D DIFFERENTIAL

MAY MAY MAY

6 6 6

18.39 18.66 -0.27

EURO-DOLLAR DEPOSIT SWISS I N T E R B A N K , C O V E R E D DIFFERENTIAL

MAY MAY MAY

6 6 6

18.39 18.87 -0.48

CHART 9. LONG TERM G O V E R M E N T BOND YIELDS UNITED STATES GERMANY J A P A N (MONTHLY) SWITZERLAND CANADA FRANCE NETHERLANDS UNITED KINGDOM

1 MAY A P R I L 24 ' APRIL APRIL 17 1 MAY M A R C H 13 3 APRIL A P R I L 17

14.01 10.23 7.90 5. 44 15.07 15. 09 10.66 11.44

MARCH DEC. FEB.

13.33 6.63 12.17

U.S. C O R P O R A T E AAA B O N D S EURO-DM BONDS EURO-DOLLAR BONDS CHART

10. I N D U S T R I A L STOCK INDICES U N I T E D STATES JAPAN FRANCE UNITED KINGDOM SWITZERLAND GERMANY

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

APRIL 17 APRIL 10 3 APRIL A P R I L 10 APRIL 10 APRIL 24

142.37 360.36 148.80 128.49 75.59 99.51

FEDERAL RESERVE statistical release H. 10 (512)

:$(

MAY

FOREIGN EXCHANGE RATES MAY

FOE THE WEEK ENDING

8,

12, 1981

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 AUSTRALIA AUSTRIA BELGIUM CANADA DENMARK FINLAND FRANCE GERMANY INDIA IRELAND ITALY JAPAN MALAYSIA MEXICO NETHERLANDS NEW Z E A L A N D NORWAY PORTUGAL SOUTH AFRICA SPAIN SBI LANKA SWEDEN SWITZERLAND UNITED KINGDOM

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

MONETARY UNIT DOLLAR SCHILLING FRANC DOLLAR KRONE MARKKA FRANC D. MARK RUPEE POUND LIRA YEN DOLLAR PESO GUILDER DOLLAR KRONE ESCUDO RAND PESETA RUPEE KRONA FRANC POUND

MAY

4

114.5100 6.31313 2.73523 83.2778 14.1343 23.5849 18.6672 44.5514 11.9400 163.0000 0.08969 0.46062 42.9000 4.1580 40.0480 89.0000 17.8380 1.6835 121.2200 1.1101 5.4437 20.6911 48.7567 211.8000

MAY

5

[RATE U.S. CENTS! MAY 6

114.2000 6.23247 2.70563 83.1532 14.0056 23.4028 18.5322 44.1306 11.9400 161.2000 0.08857 0.45914 42.7168 4.1597 39.6825 88.7800 17.7778 1.6584 120.5300 1.0971 5.4437 20.5761 48.3676 211.3500

114.2800 • 6.29525 2.71444 83.4029 1^.0805 23.4962 18.7073 44.2870 12.0048 162.0000 0,08885 0.46104 42.9461 4.1658 40.0160 88.8500 17.9436 1.6667 120.8800 1.1101 5.4437 20.6718 48.5319 211.6800

MAY

7

114.1000 6.21504 2.69760 83.3820 \ 13.9626 * 23.3973 18.6081 43.9657 11.9904 160.7500 0.08838 0.45893 42.7991 4.1615 39.6040 88.6500 17.8094 1.6584 120.4200 1.1046 5.4437 20.5550 48.1812 210.3500

MAY

8

1 14.3500 6.28931 2.72480 83.3577 14.0696 23.3618 18.7266 44.3459 12.0048 162.4000 0.08889 0.45956 43.0849 4.1580 39.9122 88.8800 17.7999 1.6667 120.3000 1.1111 5.4437 20.6271 48.6855 211.5500