(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