Selected Interest & Exchange Rates

5 V V O (51/517) Selected Interest & Exchange Rates Weekly Series of Charts 9 a * July 19, 1982 Prepared by the FINANCIAL MARKETS SECTION DIVISION OF INTERNATIONAL FINANCE BOARD OF GOVERNORS FEDERAL RESERVE SYSTEM Washington, D C. 551

Table of Contents TABLES 1. LATEST FIGURES PLOTTED 2. DAILY CERTIFIED SPOT EXCHANGE RATES H.10 RELEASE CHARTS 1. SPOT EXCHANGE RATE INDICES 2. 3MONTH FORWARD EXCHANGE RATES 3. GOLD PRICE LONDON. CALL MONEY RATES 5. 3MONTH INTEREST RATES. EURODOLLAR DEPOSIT RATES 7. SELECTED EURODOLLAR AND U.S. MONEY MARKET RATES a INTEREST ARBITRAGE: 3MONTH FUNDS 9. LONGTERM GOVERNMENT BOND YIELDS 10. INDUSTRIAL STOCK INDICES SUBSCRIPTION RATES: Weekly $15.00 per year or $.0 each m 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, $.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.

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= RAliu vcale MARCH 1973= 10 10 FOREIGN CURRENCY PRICE OF U.S. DOLLAR JAPANESE YEN 0 Tr YV^Wi 11111111111 Mill UK. POUND SWISS FRANC 180 DUTCH GUILDER 10 v 10 0 GERMAN MARK 0 hili i ~ i i i ill ii hill I ill ii hill i 0 CANADIAN DOLLAR 80 / A FRENCH FRANC 80 i i i i i i 0 80 70 0 50 BELGIAN FRANC ITALIAN LIRA 0 1980 1982 1980 1982

CHART 2 3MONTH FORWARD EXCHANGE RATES PREMIUM (+) OR () AVERAGES FOR WEEK ENDING WEDNESDAY :ENT PER ANNUM PERCENT PER AL + 0 ITALIAN LIRA CANADIAN DOLLAR I I lllllllll + 0 U. K. POUND DUTCH GUILDER GERMAN MARK SWISS FRANC + 0 + 0 FRENCH FRANC JAPANESE YEN 1980 1982 1980 1982

CHART 3 PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY U.S. DOLLARS PER FINE OUNCE 800 U.S. DOLLARS PER FINE OUNCE 800 750 750 700 700 50 50 00 00 550 550 500 500.5 Kg BARS 50 AFTERNOON FIXING PRICE 50 00 00 350 350 300 300 250 250 0 0 150 150 1979 1980 1981 1982

CHART CALL MONEY RATES WEEKLY SERIES tcent PER ANNUM PERCENT PER ANNUM 28 2 U. S. FEDERAL FUNDS u. K. 2DAY LOCAL AUTHORITY fjf KT " ^ V " 1 CANADA EUROSWISS FRANC NETHERLANDS I I IlllllI I I FRANCE GERMANY JAPAN EURODM 1980 1982 1980 1982

. HART 5 3MONTH INTEREST RATES WEEKLY SERIES :NT PER ANNUM PERCENT PER AN U.S. CD'S 1 1 WEIGHTED AVERAGE FOREIGN RATE U.K. INTERBANK STERLING 8 8 2 22 CANADIAN FINANCE CO. PAPER GERMAN INTERBANK RATE 1 18 1 8 10 1 JAPANESE BANK LOANS AND DISCOUNTS 0 8 8 SWISS INTERBANK RATE 1980 1982 1980 1982 0

CHART EURODOLLAR DEPOSIT RATES AVERAGES FOR WEEK ENDING WEDNESDAY LONDON 2 NT PER ANNUM PERCENT PER Ar. 1 8 OVERNIGHT 3MONTH 2 1 8 7DAY MONTH 2 1 8 1MONTH 1YEAR 1980 1982 1980 1982

CHART 7 SELECTED EURODOLLAR AND U. S. MONEY MARKET RATES DIFFERENTIAL: PLUSM, FAVORS BORROWING IN U. S. AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER ANNUM 2 PERCENT PER ANNUM 2 3MONTH EURODOLLAR DEPOSITS 22 FEDERAL FUNDS 18 1 OVERNIGHT EURODOLLAR DEPOSITS 90DAY CD S 10 Mill I I I I I I I I I I I I I I I I 1 U A v V V 1 DIFFERENTIAL DIFFERENTIAL 2 3 1980 1982 1980 1982 1 PERCENT ON DIFFERENTIAL SCALE = 2 PERCENT ON RATE SCALE

CHART 8 INTEREST ARBITRAGE: 3MONTH FUNDS DIFFERENTIAL: PLUSM, INDICATES FAVOR DOLLAR ASSETS AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER ANNUM 28 PERCENT PER ANNUM 28 EURODOLLAR DEPOSITS DASHED LINE CANADIAN FINANCE CO. PAPER, COVERED 1\ INTERBANK STERLING COVERED LONDON U. S. COMMERCIAL PAPER 2 DIFFERENTIAL DIFFERENTIAL 2 0 2 28 28 SWISS INTERBANK (SF) COVERED INTERBANK DM COVERED FRANKFURT EURODOLLAR DEPOSITS DASHED LINE EURODOLLAR DEPOSITS DASHED LINE 2 DIFFERENTIAL DIFFERENTIAL 2 + 0 2 1980 1982 1980 1982 1 PERCENT ON DIFFERENTIAL SCALE = 2 PERCENT ON RATE SCALE

CHART 9 LONGTERM GOVERNMENT BOND YIELDS WEEKLY SERIES ENT PER ANNUM PERCENT PER AL 19 U. S. CORPORATE MONTHLY 19 15 UNITED STATES Aaa BONDS 15 11 11 EURODOLLAR BONDS 7 7 15 9 UNITED KINGDOM SWITZERLAND 11 5 7 13 MONTHLY I I I I I I I I I I I I I I 1 13 JAPAN 9 9 GERMANY 5 5 22 22 18 CANADA FRANCE 18 1 1 10 10 NETHERLANDS 1980 1982 1980 1982

CHART 10 INDUSTRIAL STOCK INDICES WEEKLY SERIES RATIO 199= 180 :ALE RATIO S 19$ 10 10 0 UNITED STATES JAPAN 80 10 0 GERMANY \r V z^v UNITED KINGDOM 80 11111111111 10 0 FRANCE SWITZERLAND 80 I I I I I I I I I i I 10 0 NETHERLANDS CANADA 80 0 1980 1982 1980 1982

LAST VALUE PLOTTED SERIES NAML DA IE VALUE CHART I. SPOT EXCHANGE RAits AND INDICES WEEKLY AVERAGES, NOUN BUYING RATES (U.S. CENTS) GERMAN MARK JULY 1 0.07 JAPANESE YEN JULY 1 0.39010 DUTCH GUILDtR JULY 1 3b.3 U.K. POUND JULY 1 172.2 CANADIAN DOLLAR JULY 1 78.30 FKEINLH FRANC JULY 1 1.2 SWISS hranc JULY 1 7.00 titlul AiM FRANC JULY 1 2.10571 ITALIAN LIRA JULY 1 0.071 INDICES, MARCH 1S7 3 BAST KATES = 10U GERMAN MARK JULY 1 1.73 JAPANESE YEN JULY 1 102.1 OUTCN GUILDER JULY 1 10.33 U.K. POUND JULY 1 9.7 CANADIAN DOLLAR JULY 1 78.0 FRENCH FRANC JULY 1 5.00 SWISS FRANC JULY 1 151. BELGIAN FRANC JULY 1 82.98 ITALIAN tir A JOLY 1 0.70 WEIGnTED AVERAUt tachange VALUE INDICES, MAR 1973 = (GiU COuNIKlES PLUS SWITZERLAND) U.S. DOLLAR JULY 1 0.09 GtR MAN MARK JULY 1 137.11 JAPANESE YLN JULY It 0.33 DUTCH GUlLDtR JULY 1 2.07 O.K. POUwD JULY 1 78.8 CANADIAN DOLLAR JULY 1 89.1 FRENCH HKANC JULY I* 72.OH SwlbS FRANC JULY 1 177. OBCGLAIM hranc JULY 1 95.2 ITALIAN LIRA JULY 1 *.37 SWcDIiH KRUNA JULY 1 82.35 CHART 2. jmo%'ih FORWARD EXCHANbt KATEO, PREMI IM OR DISCOUNT CANADIAN DOLLAR JULY 1 1.70 U.K. POUND JULY 1 2.73 GLRrlAN MARK JULY 1.03 FRENCH FRANC JULY 1 0.53 SWISA FRANC JULY 1 10.1 DUTCH GUILDER JULY 1.08 JAPANESE YEN JULY 1 7.7 11 ALIAN LIRA JULY 1 5.58

. i LAS! VALUE PLOTTED SERIES NAME DATE VALUE 3. GOLD PRICE IN LONDON, AFTERNOON FIXING U.S. DOLLARS PER FANE OONCFC JULY 1 338.0b W. CALL MONEY RATES O.S. FTDERAL PONDS JULY 1 13.18 OVERNIGHT EURODOLLAR DEPOSITS JULY 1 13.oO O.K. 2DAY LOCAL AUTHORITY UTPDSITS JULY 9.3 CANADA JUNE 18 15.80 GERMANY JULY 9 9.00 EURODM JUNE 25 9.8 JAPAN JOLY 9 7.13 FRANCE JULY 9 15.J0 NETHERLANDS JAN. 1 10.30 EOROSWISS FRANC JUNE 25 8.5C i CHART 5. 3MONTH INTEREST RATES # O.S. 90DAY CD'S, SECONDARY MARKET JOLY 1 1.13 GERMAN INTERBANK LOAN UOLY 1 9.5 JAPANESE BANK LOANS FC DISCOUNTS JULY 1 7.31 CANADIAN FINANCE PAPER JULY 1 1.58 INTERBANK STERLING JULY 1.3 # SWISS INTERBANK LOAN JULY 1. 5 WEIGHTED AVERAGE FOREIGN INTEREST RATE JULY 1 11.2 ((,10 COUNTRIES PLUS SWITZERLAND) CHART. EURO DOLLAR DEPOSIT RATES: LONDON # OVERNIGHT JOLY 1 13.0 7DAY JULY 1 1.03 1MONTH JOLY 1 1.50 3 MONTH JULY 1 15.00 MONTH JULY 1 15.25 1 Y EAR JOLY 1 15.09 CHART 7. SELECTED EORODOLLAR AND U.S. MONEY MARKET RATES OVERNIGHT EORODOLuAR DEPOSITS JULY 1 13.U O.S. FEDERAL FONDS JOLY 1 13.1b DIFFERENTIAL *DJ. FOR RESERVt KEWOIKEMENTS JuLY 1 0.2 3MONTH E0R0D0LLAR DEPOSIT RATE JOLY 1 15.00 O.S. 90DAY CD'S, SECONDARY MAKKET JOLY It 1.13 DIFFERENTIAL JOLY 1 0.87

SERIES NAME LAST VALUE PLOTTED DATE VALUE CHART b. INTEREST AROITRAUE, 3MONTH FUNDS EURODOLLAR BTPUSIR JULY 1 15.00 INTERBANK STERLING (LONDON!, COVERFCD JULY 1 15, 2 DIFFERENTIAL JULY 1 0.2 U.S. COMMERCIAL PAPER JULY 1 13.9 CANADIAN FINANCE PAPER, COVERED JULY 1 1,.81 DIFFERENTIAL JULY 1 1. EUROUULLAR DEPOSIT JULY 1 15.00 INTERBANK DM (FRANKFURT), COVERED JULY 1 15,.3 DIFFERENTIAL JULY 1 V,.3 EURODOLLAR DEPOSIT JULY 1 15.00 SWISS INTERBANK, COVERED JULY 1 15.39 DIFFERENTIAL JULY 1 0.39 CHART 9. LONG TERM GUVERMtNT BONU YlfcLDS UNITED STATES JULY 9 1.30 GERMANY JULY 9 9.9 JAPAN (MONTHLY) JUNE 8.53 SWITZERLAND JUNE 11 5.00 CANADA JUNE lb 15.0 FRANCE MAY 7 1.2 NETHERLANDS JAN. 1 11. UNITED KINGDOM JULY 2.53. CORPORATE AAA BONDS JUNE 1.1 EURODOLLAR BONDS MAY 13.02 CHART 10. STOCK INDICES UNITED STATES JUNE 30 113.11 UNITED KINGDOM JUNE 3U 1.8b CANADA JUNE 30 135,.37 GERMANY JUNE 30 9.39 SWITZERLAND JUNE 30 b2,.07 NETHERLANDS JUNE 30 81.31 FRANCE JUNE 30 98.81 JAPAN JUNE 30 12 99

FEDERAL RESERVE statistical release IIFFL H.10(5) FOREIGN EXCHANGE RATES JULY 19, 1982 FOR THE WEEK ENDING JULY 1, 1982 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 followinfgnoon buying rate in New York City for cable transfers payable in foreign currencies: COUNTRY MONETARY UNIT JULY CURRENCY UNITS PER DOLLAR) JULY 13 JULY 1 JULY 15 JULY 1 ARGENTINA AUSTRALIA AUSTRIA BELGIUM BR A ZIX CANADA CHILE CHINA, P.R. COLOMBIA DENMARK FINLAND FRANCE GERMANY GREECE HONG KONG INDIA INDONESIA IRAN IRELAND ISRAEL ITALY JAPAN MALAYSIA MEXICO NETHERLANDS NEW ZEALAND NORWAY PERU PHILIPPINES PORTUGAL SINGAPORE SOUTH AFRICA SOUTH KOREA SPAIN SRI LANKA SWEDEN SWITZERLAND THAILAND UNITED KINGDOM ivenezuela PESO DOLLAR SCHILLING FRANC CRUZEIRO DOLLAR PESO YUAN PESO KRONE MARKKA FRANC D. MARK DRACHMA DOLLAR RUPEE RUPIAH RIAL POUND SHEKEL LIRA YEN DOLLAR PESO GUILDER DOLLAR KRONE SOL PESO ESCUDO DOLLAR RAND WON PESETA RUPEE KRONA FRANC BAHT POUND BOLIVAR.00 101.57 17.3 7.050 17.28 1.2717 7.300 1.9395 3.900 8.5375.725.8830 2.775 9.350 5.875 9.5500 58.00 NA 139.25 25.0 138.50 25.25 2.3570 8.300 2.7300 7.180.3500 90.50 8.750 8.500 2.180 87.15 7.00 110.930.900.75 2.1080 23.000 173.25.2950.00 101.13 17.50 7.500 17.28 1.273 7.300 1.9395 3.900 8.00.750.930 2.970 70.000 5.8880 9.5700 58.00 NA 137.90 25.510 1397.00 257.50 2.335 8.500 2.7525 73.750. 90.50 8.750 8.700 2.1530 8.90 7.00 111.700.900.1800 2.1300 23.000 172.25.2950.00 101.18 17.50 7.80 17.28 1.27 7.300 1.9395 3.900 8.25.725.9325 2.958 70.00 5.8985 9.5900 58.00 NA 137.80 25.510 139.00 25.35 2.30 8.5000 2.75 7.000.3880 90.50 8.750 85.0 2.150 7.00 7.00 1.370.900.175 2.1310 23.000 172.30.2950.00 101.21 17.570 7.530 17.28 1.25 7.300 1.9395 3.900 8.250.70.900 2.925 70.00 5.895 9.5800 58.00 NA 138.10 25.90 139.00 255.95 2.330 8.5300 2.75 73.880.3750 90.50.750 85.0 2.1535 8.52 7.00 1.0.900.100 2.30 23.000 172.15.2950.00 101.2 17.550 7.180 17.28 1.237 7.300 1.9395.150 8.550.730.8875 2.75 70.300 5.890 9. 0.50 NA 138.90 255 1389.00 25.05 2.310 8.5900 2.7310 73.900.3550 9.00 8.800 85.250 2.1510 8.95 71.5 1.70.900.1350 2.100 23.000 172.0.2955 VALUE IN U.S. CENTS