(51/517) OMA f* Lt UCSMit» s s s " Selected Interest & Exchange Rates Weekly Series of Charts January 25, 1982 Prepared by the FINANCIAL MARKETS SECTION DIVISION OF INTERNATIONAL FINANCE BOARD OF GOVERNORS FEDERAL RESERVE SYSTEM 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 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. 4. CALL MONEY RATES 5. 3-MONTH INTEREST RATES. 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 CALE 1973=100 RATIO SCALE MARCH 19773=10.0 0 FOREIGN CURRENCY PRICE OF U.S. DOLLAR - /v X - - ' U.K. POUND 100 80 l L 0 JAPANESE YEN 180 10 140 Y>AV 0 GERMAN MARK 100 80 240 200 FRENCH FRANC i I I, SWISS FRANC,: V nlnliilii 10 0 DUTCH GUILDER BELGIAN FRANC 10 140 0 100 100 ITALIAN LIRA 80 CANADIAN DOLLAR 0 4 Digitized for FRASER 1980 1982 1980 1982
CHART 2 3-MONTH FORWARD EXCHANGE RATES PREMIUM (+) OR H AVERAGES FOR WEEK ENDING WEDNESDAY PEL :ENT PER ANNUM PERCENT PER AL ITALIAN LIRA + 0 CANADIAN DOLLAR I I I V A/-z + 0 U. K. POUND DUTCH GUILDER GERMAN MARK SWISS FRANC + 0 + 0 FRENCH FRANC JAPANESE YEN Digitized for FRASER 1980 1982 1980 1982
CHART 3 PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY U.S. DO 800 RS PER FINE OUNCE U.S. DOLLARS PER FINE OUI E 750 700 50 00 550 500 450.5 Kg BARS AFTERNOON FIXING PRICE 400 350 300 250 20C 150 10C 1979 1980 I I I I I I I I I I I I I I I I I I I I I M 1981 1982
CHART 4 CALL MONEY RATES WEEKLY SERIES 28 T PER ANNUM PERCENT PER ANN 24 20 U. S. FEDERAL FUNDS U. K. 2-DAY LOCAL AUTHORITY 1 8 4 24 20 CANADA 1 EURO-SWISS FRANC 8 4 NETHERLANDS + 0 24 20 1 FRANCE GERMANY 8 4 JAPAN EURO-DM 0 1980 1982 1980 1982
CHART 5 3-MONTH INTEREST RATES WEEKLY SERIES ' PER ANNUM PERCENT PER ANI 20 U.S. CD'S 1 WEIGHTED AVERAGE FOREIGN RATE UK. INTERBANK STERLING 8 4 2 CANADIAN FINANCE CO. PAPER GERMAN INTERBANK RATE 22 18 14 10 1 JAPANESE BANK LOANS AND DISCOUNTS 8 SWISS INTERBANK RATE 4 1980 1982 1980 1982
CHART EURO-DOLLAR DEPOSIT RATES AVERAGES FOR WEEK ENDING WEDNESDAY LONDON PERCE N-T PER ANNUM 24 pa#& p# AwW! " 24 OVERNIGHT 3-MONTH 7-DAY -MONTH! 111 i 11 i I i ijillliiili I / 1-MONTH seer 1980 081 1982 seer 1980 1982
CHART 7 SELECTED EURO-DOLLAR AND U. S. MONEY MARKET RATES DIFFERENTIAL: PLUS(+), FAVORS BORROWING IN U. S. AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER ANNUM 2 PERCENT PER ANNUM 2 22-3-MONTH EURO-DOLLAR DEPOSITS - 22 FEDERAL FUNDS i 18 14 11 i\ 1 vr w i[\ I \ M 1. 'if \f vx A fii 7 - - 18 14 10 m J %ktj if OVERNIGHT EURO-DOLLAR DEPOSITS - IVH 90-DAY CD S - 10 i i i 1 1 1 1 1 1 II 1 11 1 1 1 I I 1 I I 1 I I 1 I I DIFFERENTIAL DIFFERENTIAL 1980 1 1 11 11 11 11111111111 M I I I I I I I I I 1982 1980 1982 Digitized for FRASER 1 PERCENT ON DIFFERENTIAL SCALE = 2 PERCENT ON RATE SCALE
CHART 8 INTEREST ARBITRAGE: 3-MONTH FUNDS DIFFERENTIAL: PLUS(+), INDICATES FAVOR DOLLAR ASSETS AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER ANNUM 28 PERCENT PER ANNUM 28 EURO-DOLLAR DEPOSITS DASHED LINE CANADIAN FINANCE CO. PAPER, COVERED 20 20 INTERBANK STERLING COVERED LONDON U. S. COMMERCIAL PAPER 4 4 2 2 DIFFERENTIAL DIFFERENTIAL 2 28 28 INTERBANK DM COVERED FRANKFURT SWISS INTERBANK (SF) COVERED 20 20 EURO-DOLLAR DEPOSITS DASHED LINE EURO-DOLLAR DEPOSITS DASHED LINE 4 2 DIFFERENTIAL DIFFERENTIAL 2 + 0 2 1980 1982 1980 1982 1 PERCENT ON DIFFERENTIAL SCALE = 2 PERCENT ON RATE SCALE
CHART 9 LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES :NT PER ANNUM PERCENT PER AN 19 U. S. CORPORATE MONTHLY 19 15 UNITED STATES Aaa BONDS / \ 15 - s-s'* - 11-11 7 I l l l l l l l l l l I I I EURO-DOLLAR BONDS " 7 15 9 UNITED KINGDOM SWITZERLAND 11 5 7 Illllllllll 1 13 MONTHLY 13 JAPAN 9 9 GERMANY 5 5 22 22 18 CANADA FRANCE 18 14 14 10 10 NETHERLANDS 1980 1982 1980 1982
CHART 10 INDUSTRIAL STOCK INDICES WEEKLY SERIES RATIO 199= 180 :ALE RATIO < 10 140 0 100 UNITED STATES JAPAN 80 140 0 - SWITZERLAND - 100 UNITED KINGDOM 80 11111111m 140 0 FRANCE GERMANY - 100 Hn, A A A. v\ 80 - ill 140 0 100 NETHERLANDS CANADA 80 0 1980 1982 1980 1982
SERIES NAME LAST VALUE PLOTTED DATE VALUE CHART 1. SPOT EXCHANGE BATES AND INDICES WEEKLY AVERAGES, NOON BUYING BATES (U.S. CENTS) GERMAN MARK 43.41 JAPANESE YEN 0.44470 DUTCH GUILDER 39.3 U.K. POUND 187.88 CANADIAN DOLLAR 83.71 FRENCH FRANC 17.09 SWISS FRANC 53.9 BELGIAN FRANC 2.5528 ITALIAN LIRA 0.08108 INDICES, MARCH 1973 BASE RATES = 100 GERMAN MARK JAPANESE YEN DUTCH GUILDER U.K. POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC BELGIAN FRANC ITALIAN LIRA 2.11 11.44 113.78 75.99 83.44 7.99 173.58 100.0 4.0 WEIGHTED AVERAGE EXCHANGE VALUE INDICES, MAR 1973 = 100 (G-10 COUNTRIES PLUS SWITZERLAND) U.S. DOLLAR GERMAN MARK JAPANESE YEN DUTCH GUILDER U.K. POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC BELGIAN FRANC ITALIAN LIRA SWEDISH KRONA 107.32 135.72.20 1.84 78.53 87.35 79.49 18.74 10.9 4.09 82.54 CHART 2. 3-MONTH FORWARD EXCHANGE RATES, PREMIUM OR DISCOUNT CANADIAN DOLLAR U.K. POUND GERMAN MARK FRENCH FRANC SWISS FRANC DUTCH GUILDER JAPANESE YEN ITALIAN LIRA -0.88-0.1 4.03-1.83 5.8 3.58 7.71-7.2
SERIES NAME LAST VALUE PLOTTED DATE VALUE CHART 3. GOLD PRICE IN LONDON, AFTERNOON FIXING U.S. DOLLARS PEE FINE OUNCE 374.80 CHART 4. CALL MONEY RATES U.S. FEDERAL FUNDS.,9 OVERNIGHT EURO-DOLLAR DEPOSITS.88 U.K. 2-DAY LOCAL AUTHORITY DEPOSITS JAN. 15 14.3 CANADA JAN. 8 11..02 GERMANY JAN. 15 10.05 EURO DM JAN. 1 10.,22 JAPAN JAN. 15..3 FRANCE JAN. 15 15..38 NETHERLANDS DEC. 25 10.,5 EURO SWISS FRANC JAN. 1 5., 3 CHART 5. 3-MONTH INTEREST RATES U.S. 90-DAY CD'S, SECONDARY MARKET 13.50 GERMAN INTERBANK LOAN 10.49 JAPANESE BANK LOANS DISCOUNTS.59 CANADIAN FINANCE PAPER 14.92 INTERBANK STERLING 15.33 SWISS INTERBANK LOAN 8.70 WEIGHTED AVERAGE FOREIGN INTEREST RATE.08 (G-10 COUNTRIES PLUS SWITZERLAND) CHART. EURO-DOLLAR DEPOSIT BATES: LONDON OVERNIGHT.88 7-DAY 13.02 1-MONTH 13.48 3-MONTH 14.23 -MONTH 15.01 1-YEAR 15. 19 CHART 7. SELECTED EURO-DOLLAR AND U.S. MONEY MARKET BATES OVERNIGHT EURO-DOLLAR DEPOSITS. 88 U.S. FEDERAL FUNDS. 9 DIFFERENTIAL ADJ. FOR RESERVE REQUIREMENTS -0. 08 3-MONTH EURO-DOLLAR DEPOSIT RATE 14. 23 U.S. 90-DAY CD'S, SECONDARY MARKET 13. 50 DIFFERENTIAL 0. 72
SERIES NAME LAST VALUE PLOTTED DATE VALUE CHART 8. INTEtiEST ARBITRAGE, 3-MONTH FUNDS EURO-DOLLAR DEPOSIT 14. 23 INTERBANK STERLING (LONDON), COVERED 14,,70 DIFFERENTIAL -0. 47 U.S. COMMERCIAL PAPER 13.,03 CANADIAN FINANCE PAPER, COVERED 14.,01 DIFFERENTIAL -0.,98 EURO-DOLLAR DEPOSIT 14.,23 INTERBANK DM (FRANKFURT), COVERED 14.,2 DIFFERENTIAL -0.,40 EURO-DOLLAR DEPOSIT 14.23 SWISS INTERBANK, COVERED 14.51 DIFFERENTIAL -0.,28 CHART 9. LONG TERM GOVERMENT BOND YIELDS UNITED STATES JAN. 15 14.7 GERMANY JAN. 8 9.82 JAPAN (MONTHLY) DEC. 7.94 SWITZERLAND NOV. 13 5.73 CANADA JAN. 8 15.4 FRANCE NOV. 13 1.92 NETHERLANDS DEC. 25 11. UNITED KINGDOM JAN. 1 13.25!. CORPORATE AAA BONDS DEC. 14.23 EURO-DOLLAR BONDS NOV..9 0. STOCK INDICES UNITED STATES DEC. 30.44 UNITED KINGDOM DEC. 30 11.2 CANADA DEC. 30 192.78 GERMANY DEC. 30 95.04 SWITZERLAND DEC. 30 87.09 NETHERLANDS DEC. 30 75.79 FRANCE DEC. 30 93.58 JAPAN DEC. 30 151.22
FEDERAL RESERVE statistical release *jlgsa& H.10(5) FOREIGN EXCHANGE RATES JANUARY 25, 1982 FOB THE WEEK ENDING JANUARY 22, 1982 SONETABY frtlrrency UNITS PER DOLLAR) COUNTRY UNIT JAN. 18 JAN. 19 JAN. 21 JAN. 22 ARGENTINA AUSTRALIA AUSTRIA BELGIUM BRAZIL CANADA CHILE CHINA, P.fi. COLOMBIA DENBABK 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 SHI LANKA SWEDEN SWITZERLAND THAILAND UNITED KINGDOM VENEZUELA PESO DOLLAR SCHILLING FRANC CROZEIRO DOLLAR PESO YUAN PESO KRONE MARKKA FRANC D. MARK DRACHMA DOLLAR RUPEE ROPIAH RIAL POUND SHEKEL LIRA YEN DOLLAR PESO GUILDER DOLLAR KRONE SOL PESO ESCUDO DOLLAR BAND WON PESETA RUPEE KRONA FRANC BAHT POUND BOLIVAR 900.00 111.40 1.180 39.0 132.22 1.195 39.100 1.788 59.400 7.5200 4.4375 5.8320 2.2975 59.450 5.887 9.140-52.00 NA 154.25 1.00 33.00 225.35 2.270 2.45 2.517b 81.100 5.880 51.25 8.2140.900 2.080 103.25 705.55 99.230 20.205 5.220 1.8490 23.050 188.35 4.290 900.00 111.42 1.050 39.030 132.22 1.1938 39.100 1.779 59.400 7.4890 4.4075 5.8405 2.2948 58.50 5.8180 9.1400 52.00 NA 154.50 1.220 28.50' 224.50 2.250 2.480 2.5145 81.350 5.825 51.25 8.2140.00 2.0590 103.45 70.85 98.200 20.205 5.250 1.8470-23.050 189.40 4.290 900.00 111.28 1.10 39.250 132.22 1.194 39.100, 1.779 59.400 7.5225 4.4135 5.8730 2.3085 59.100 5.8250 9.1700 52.00 NA 153.00 1.370 33.50 225.50 2.245 2.500 2.5290 81.050 5.8700 51.25 8.2140.800 2.095 103.45 70.85 98.870 20.205 5.425 1.805 23.050 188.32 4.290 900.00 111.25 1.140 39.090 132.22 1.1910 39.100 1.779 59.400 7.55 4.4150 5.8500 2.2972 59.200 5.8200 9.1500 52.00 NA 153.00 1.370 34.00 225.5 2.280 2b.520 2.5200 81.070 5.8375 51.25 8.2140.850 2.0700 103.32 707.15 98.80 20.205 5.30 1.8435 23. 050 188.00 4.290 9950.00 110.90 1.140 39.250 132.22 1.1945 39.100 1.779 59.700 7.500 4.415 5.8775 2.3085 59.700 5.8150 9.1800 41.00 NA 153.00 1.370 38.00 227.40 2.250 2.05 2.5290 80.950 5.8750 523.75 8.2140.800 2.080 102.90 707.15 98.750 20.280 5.500 1.8530 23. 050 187.05 4.290 VALUE IN U.S. CENTS