(516/517) h. Selected Interest & Exchange Rates Weekly Series of Charts November 22, 1982 DIVISION OF INTERNATIONAL FINANCE Prepared by the BOARD OF GOVERNORS FINANCIAL MARKETS FEDERAL RESERVE SYSTEM SECTION Washington, D C. 20551
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 SUBSCRIPTION RATES: Weekly $15.00 per year or $.40 each in the Ur States, its possessions, Canada, and Mexico; 1 more of the same issue to one address, $13.5C year or $.35 each. Elsewhere, $20.00 per year or each. Address requests to Publications Services, sion of Administrative Services, and make payr remittance payable to the order of the Boarc Governors of the Federal Reserve System in a collectible at par in U.S. Currency. 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
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=100 160 RAilO SCALE MARCH 1973=100 140 - FOREIGN CURRENCY PRICE OF U.S. DOLLAR - JAPANESE YEN 0-100 - - 80,1,, 1,, 1,, M i M i M117 0 100 U.K. POUND 80 60 I I I,,,,,,i,Zu7 SWISS FRANC - DUTCH GUILDER 180-160 - 140-0 GERMAN MARK "l I I 1111ihi I 100 0 100 - CANADIAN DOLLAR 80 ^ 60 I I I I I I 111111111 ii 160 ~ FRENCH FRANC 140-0 - 100 \ \ - BELGIAN FRANC \A ~~ ITALIAN LIRA 80 "i i i iiliiiiilii 11111111111 1980 1982 1980 1982
6 ENT PER ANNUM CHART 2 3-MONTH FORWARD EXCHANGE RATES PREMIUM (+) OR (-) AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER AN + 0 6 CANADIAN DOLLAR ITALIAN LIRA - -,V > / V ^ - V I I I 6 + 0 6 U. K. POUND DUTCH GUILDER GERMAN MARK SWISS FRANC 6 + 0 6 + 0 6 FRENCH FRANC JAPANESE YEN 1980 1982 1980 1982
CHART 3 PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY U.S. DC 800 ARS PER FINE OUNCE U.S. DOLLARS PER HNF 0 750 700 650 600 550 500 450.5Kg BARS AFTERNOON FIXING PRICE 400 350 300 250 200 150 100 I I I I I I I I I I I I I I I I I I I I 1979 1980 1981 1982
CHART 4 CALL MONEY RATES WEEKLY SERIES 28 PER ANNUM PERCENT PER ANf 24 20 U. S. FEDERAL FUNDS U. K. 2-DAY LOCAL AUTHORITY 16 8 4 24-20 16 EURO-SWISS FRANC ; CANADA.rIvyA A /AJN > NETHEf (LANDS i i i I I I 11!11111111 FRANCE GERMANY JAPAN EURO-DM 1980 1982 1980 1982
CHART 5 3-MONTH INTEREST WEEKLY SERIES RATES PER ANNUM PERCENT PER ANNl U.S. CD'S WEIGHTED AVERAGE FOREIGN RATE U.K. INTERBANK STERLING 8 4 20 CANADIAN FINANCE CO.PAPER GERMAN INTERBANK RATE 16 8 4 JAPANESE BANK LOANS AND DISCOUNTS 0 8 SWISS INTERBANK RATE 4 0 1980 1982 1980 1982
CHART EURO-DOLLAR DEPOSIT RATES LONDON AVERAGES FOR WEEK ENDING WEDNESDAY PERC 24 T PER ANNUM PERCENT PER AW 20 16 8 OVERNIGHT 3-MONTH 4 24 Illllllll 20 16 8 7-DAY 6-MONTH 4 24 20 16 8 1-MONTH 1-YEAR 4 1980 1982 1980 1982
CHART 7 SELECTED EURO-DOLLAR AND U. S. MONEY MARKET RATES DEFERENTIAL:PLUS(+), FAVORS BORROWING INU. S. AVERAGES FOR WEEK ENOWG WEDNESDAY PERCENT PER ANNUM 26 PERCENT PER ANNUM 26 22-3-MONTH EURO-DOLLAR DEPOSITS - 22 FEDERAL FUNDS 18-18 14 14 10 OVERNIGHT EURO-DOLLAR DEPOSITS \V^r 90-DAY CD S - 10 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 I 6 3 2-1 - y v A v V V DIFFERENTIAL DIFFERENTIAL 1980 1 PERCENT ON DIFFERENTIAL SCALE = 2 PERCENT ON RATE SCALE 1962 I I I I I I I I I I I II III I I I I I I 1980 1962
PERCENT PER ANNUM 28 CHART 8 INTEREST ARBITRAGE: 3-MONTH FUNDS DIFFERENTIAL:PLUS(+), INDICATESFAVOR DOLLAR ASSETS AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER ANNUM 28 EURO-DOLLAR DEPOSITS DASHED LINE INTERBANK STERLING COVERED LONDON w / / ^ s.v ^ J( \t* fj CANADIAN FINANCE CO.PAPER, COVERED i / J V w\ 1 Jj v \i U. S. COMMERCIAL PAPER I I I 1 1 1 i I 1!! 1 1 1 ill i i i 20 - DIFFERENTIAL DIFFERENTIAL - w v V 2 28 ~ 1 1 1 1 1 I I llllllllllll " i n 1 1 1 11111111111 lllllllllll 4 28 INTERBANK DM COVERED FRANKFURT SWISS INTERBANK (SF) COVERED 20-20 - EURO-DOLLAR DEPOSITS DASHED LINE EURO-DOLLAR DEPOSITS DASHED LINE LL DIFFERENTIAL 1 A, / v/^vuwyv / " 1 1 1 1 1 i i IiiIiiIiiIm 1980 1982 1 PERCENT ON DIFFERENTIAL SCALE = 2 PERCENT ON RATE SCALE DIFFERENTIAL \J a aa a AAA*MI ya AW lam A, v'v A 1 1 1 I i i Iiiiiihiin lllllllllll 1980 1982 0
CHART 9 LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERES PERCENT PER ANNUM 19 U. S. CORPORATE MONTHLY PERCENT PER ANNUM 19 UNITED STATES AaaBONDS \ I "A - 15 -, 11 EURO-DOLLAR BONDS " I I I I I I I 11111111111 I I I I I I I I I I l UNITED KINGDOM SWITZERLAND I I I I I III I I I I I I I I Ill II I I I I I I MONTHLY JAPAN - 9 GERMANY I I I I I I 11111111111 i ill ihilti 5 22 CANADA FRANCE 18 14 10 NETHERLANDS i Inhilii JJLLIJ 1980 1982 1980 1982
RATIO S 1969=1 180 CHART 10 INDUSTRIAL STOCK INDICES WEEKLY SERIES RATIO SC/ 1969= 160 140 0 100 UNITED STATES JAPAN - 1< 80 140 0 GERMANY 100 \- z Vf \ v -.. A'A. f*~- 80 140 0 UNITED KINGDOM FRANCE I I I I I I,,111111111111111111 llll SWITZERLAND 100 8( NETHERLANDS CANADA 1980 1982 1980 1982
SERIES NAME LAST VALUE PLOTTED DATE VALUE CHART 1. SPOT EXCHANGE RATES AND INDICES WEEKLY AVERAGES, NOON BUYING RATES (U.S. CENTS) GERMAN MARK NOV. 17 38.75 JAPANESE YEN NOV. 17 0.37637 DUTCH GUILDER NOV. 17 35. 67 U.K. POUND NOV. 17 162.,63 CANADIAN DOLLAR NOV. 17 81. 63 FRENCH FRANC NOV. 17 13. 72 SWISS FRANC NOV. 17 45. 25 BELGIAN FRANC NOV. 17 2.00031 ITALIAN LIRA NOV. 17 0. 06741 INDICES, MARCH 1973 BASE RATES = 100 GERMAN MARK NOV. 17 109,.01 JAPANESE YEN NOV. 17 98.,55 DUTCH GUILDER NOV. 17 102.,39 U.K. POUND NOV. 17 65. 78 CANADIAN DOLLAR NOV. 17 8 1.36 FRENCH FRANC NOV. 17 61. 80 SWISS FRANC NOV. 17 145.,58 BELGIAN FRANC NOV. 17 78. 82 ITALIAN LIRA NOV. 17 38. 29 WEIGHTED AVERAGE EXCHANGE VALUE INDICES, MAR 1973 = 100 (G-10 COUNTRIES PLUS- SWITZERLAND) U.S. DOLLAR NOV. 17 5..20 GERMAN MARK NOV. 17 136. 98 JAPANESE YEN NOV. 17 119.92 DUTCH GUILDER NOV. 17 3. 91 U.K. POUND NOV. 17 76.,56 CANADIAN DOLLAR NOV..17 96. 88 FRENCH FRANC NOV. 17 71.,23 SWISS FRANC NOV. 17 176. 52 BELGIAN FRANC NOV. 17 93.,77 ITALIAN LIRA NOV. 17 43. 04 SWEDISH KRONA NOV. 17 69., 1C!. 3-MONTH FORWARD EXCHANGE RATES, PREMIUM OB DISCOUNT CANADIAN DOLLAR NOV.. 17 U.K. POUND NOV. 17-0. 98 0. 95 GERMAN MARK NOV. 17 2. 86 FRENCH FRANC NOV. 17-7. 95 SWISS FRANC NOV. 17 6. 08 DUTCH GUILDER NOV. 17 3. 54 JAPANESE YEN NOV..17 2. 96 ITALIAN LIRA NOV. 17-13. 14
SERIES NAME LAST VALUE PLOTTED DATE VALUE CHART 3. GOLD PRICE IN LONDON, AFTERNOON FIXING U.S. DOLLARS PER FINE OUNCE NOV. 17 404.45 4. CALL MONEY RATES U.S. FEDERAL FUNDS NOV. 17 9.61 OVERNIGHT EURO-DOLLAR DEPOSITS NOV. 17 9.78 U.K. 2-DAY LOCAL AUTHORITY DEPOSITS NOV.. 9.25 CANADA OCT. 15 13.73 GERMANY NOV.. 7.00 EURO-DM NOV. 5 6.94 JAPAN NOV. 6. 75 FRANCE NOV. 13.25 NETHERLANDS JAN. 1 10.30 EUiRO-SWISS FRANC NOV. 5 1.85 5..3-MONTH INTEREST RATES U.S. 90-DAY CD'S, SECONDARY MARKET NOV. 17 9.22 GERMAN INTERBANK LOAN NOV. 17 7.21 JAPANESE BANK LOANS S DISCOUNTS NOV. 17 7.19 CANADIAN FINANCE PAPER NOV. 17 10.93 INTERBANK STERLING NOV..17 9-11 SWISS INTERBANK LOAN NOV. 17 3.88 WEIGHTED AVERAGE FOREIGN INTEREST RATE NOV.. 17 9.31 (G-10 COUNTRIES PLUS SWITZERLAND) CHART 6. EURO-DOLLAR DEPOSIT RATES: LONDON OVERNIGHT 7-DAY 1-MONTH 3-MONTH 6-MONTH 1-YEAR NOV. 17 NOV. 17 NOV. 17 NOV. 17 NOV.,17 NOV. 17 9.78 9.71 9.73 9.93 10.10 10.34 CHART 7. SELECTED EURO-DOLLAR AND U.S. MONEY MARKET RATES OVERNIGHT EURO-DOLLAR DEPOSITS U.S. FEDERAL FUNDS DIFFERENTIAL ADJ..FOR RESERVE REQUIREMENTS 3-MONTH EURO-DOLLAR DEPOSIT RATE U.S. 90-DAY CD'S, SECONDARY MARKET DIFFERENTIAL NOV. 17 9. 78 NOV. 17 9. 61 NOV. 17 0. 17 NOV.,17 9. 93 NOV. 17 9. 22 NOV. 17 0. 71
SERIES NAME LAST VALUE PLOTTED DATE VALUE CHART 8. INTEREST ARBITRAGE, 3-MONTH FUNDS EURO-DOLLAR DEPOSIT NOV..17 9. 93 INTERBANK STERLING (LONDON), COVERED NOV. 17 10. 09 DIFFERENTIAL NOV. 17 0.16 U.S. COMMERCIAL PAPER NOV. 17 8. 91 CANADIAN FINANCE PAPER, COVERED NOV..17 9. 93 DIFFERENTIAL NOV. 17-1.,02 EURO-DOLLAR DEPOSIT NOV. 17 9.93 INTERBANK DM (FRANKFURT), COVERED NOV. 17 10., DIFFERENTIAL NOV..17 Oe19 EURO-DOLLAR DEPOSIT NOV. 17 9. 93 SWISS INTERBANK, COVERED NOV. 17 10.,02 DIFFERENTIAL NOV..17-0. 09 CHART 9. LONG TERM GOVERMENT BOND YIELDS UNITED STATES NOV. 10.53 GERMANY NOV., 5 8.10 JAPAN (MONTHLY) OCT. 8.45 SWITZERLAND OCT. 29 4.30 CANADA OCT. 15.40 FRANCE SEPT.. 10 15. 77 NETHERLANDS JAN. 1 11. UNITED KINGDOM NOV.. 9.42 1. CORPORATE AAA BONDS OCT.. EURO-DOLLAR BONDS SEPT.,.92 CHART 10. STOCK INDICES UNITED STATES UNITED KINGDOM CANADA GERMANY SWITZERLAND NETHERLANDS FRANCE JAPAN NOV. 10 145.38 NOV. 10 139.50 NOV. 10 185.34 NOV. 10 100.44 NOV. 10 90.41 NOV. 10 90.80 NOV. 10 102.64 NOV. 10 149.57
FEDERAL RESERVE statistical release f*al -fi. 10(5) FOREIGN EXCHANGE RATES FOR THE WEEK ENDING NOVEMBER 19, 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: NOVEMBER 22, 1982 COUNTRY MONETARY UNIT NOV. 15 CURRENCY UNITS PER DOLLAR) NOV. 16 NOV. 17 NOV. 18 NOV. 19 ARGENTINA AUSTRALIA AUSTRIA BELGIUM BRAZIL CANADA CHILE CHINA, P.p., 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 VENEZUELA 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 BSCUDO DOLLAR RAND WON PESETA RUPEE KRONA FRANC BAHT POUND BOLIVAR 39200.00 93.92 18.150 50.080 225.61 1.2249 69.000 2.90*6 68.160 9.9650 5.5610 7.3080 2.5865 73.750 6.7000 9.8200 683.50 VI 131.50 31.#60 1*85.00 267.35 2.3675 8.9000 2.8100 70.900 7.3000 878.08 8.97*0 92.*00 2.2175 87.25 7*5.65 0.550 21.930 7.5550 2.2200 23.000 163.15 *.3000-39200.00 9*.18 18.060 *9.9T0 225.61 1.2258 69.000 2.00*6 68.160 9.9050 5.5*50 7.2720 2.5718 73.300 6.7000 9.9*00 683.50 NA 132.30 31.$60 1*79.00 263.70 2.3680 135.9000 2.7960 71.150 7.2650 878.06 8.97*0 92.100 2.2160 87.60 7*5.65 0.200 21.930 7.5*50 2.1925 23.000 162.05 *.3000 39200.00 9*.1* 17.990 *9.910 225.61 1.2259 69.000 2.90*6 68.160 9.0025 5.5*30 7.2735 2.5735 73.900 6.6500 9.9500 683.50 NA 132.15 31.**0 1*80.00 263.30 2.3620 135.9000 2.7915 70.900 7.3075 878.08 8*97*0 91.750 2.20 87.50 7*5.65 0.100 21.930 7.5750 2.2035 23.000 160.)5 *.3000 39200.00 9*.13 18.010 *9.900 225.61 1.2251 69.000 2.90*6 68.160 8.9950 5.5515 7.2575 2.5685 73.900 6.6700 9.9500 683.50 NA 132.10 31.9*0 1*79.00 262.70 2.36*0 1*0.9000 2.7950 70.950 7.2950 878.08 8.97*0 92.800 2.20 87.95 7*5.65 119.980 21.930 7.5750 2.1985 23.000 160.30 *.3000 39200.00 9*.5* 17.890 *9.*60 233.57 1.2211 69.750 2.00*6 68.510 8.9020 5.52*5 7.1975 2.5*30 72.550 6.6*00 9.8100 683.50 NA 133.*0 31.**0 1*66.00 257.85 2.3630 135.Q000 2.7770 71.300 7.2280 891. *2 8.9960 92.550 2.2195 88.65 7*5.65 119.200 21.030 7.50 2.1815 23.000 161.95 *.3000 VALUE IN U.S..CENTS