h13_19810119.pdf

Selected Interest & Exchange Rates Weekly Series of Charts

January 19, 1981

Prepared by the FINANCIAL MARKETS SECTION

DIVISION OF INTERNATIONAL FINANCE

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

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

4. CALL MONEY RATES

5. 3-MONTH INTEREST RATES

6. EURO-DOLLAR DEPOSIT RATES 7. SELECTED EURO-DOLLAR AND

U.S. MONEY MARKET RATES a INTEREST ARBITRAGE: 3-MONTH FUNDS

9. LONG-TERM GOVERNMENT BOND YIELDS 10. INDUSTRIAL STOCK INDICES

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, Divi-sion 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.


RATIO SCALE MARCH 1973=100

160

140

120

100

100

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

CANADIAN DOLLAR

FOREIGN CURRENCY PRICE OF U.S. DOLLAR

I I I II I II I I I

FRENCH FRANC

- 100

GERMAN MARK

160

140 - AA V JAPANESE YEN

-

120 fyf

100 - -

80 I I I I I I ,7 SWISS FRANC

DUTCH GUILDER

BELGIAN FRANC

11

U.K. POUND

- ITALIAN LIRA -

I

i i i

I

I I I

a . ^ -

- 200

160

120

160

140

120

100

100

80

60

1979 1981 1979 1981


6

+ 0

6

6

0

6

12

12

6

0

12

6

0

6

24

0

24

12

6

0

6 18

12

6

0

12

6

0

6

CHART 2

3-MONTH FORWARD EXCHANGE RATES PREMIUM (+) OR (-)

AVERAGES FOR WEEK ENDING WEDNESDAY :ENT PER ANNUM PERCENT PER A t

CANADIAN DOLLAR

U. K. POUND

GERMAN MARK

FRENCH FRANC

I I I I I I I I I I

- ITALIAN LIRA -

I I I I I I :,y

DUTCH GUILDER

- Kj SWISS FRANC 1

f -

I I I I I I

-

JAPANESE YEN

1979 1981 1979 1981


U.S. D

BOO

750

700

650

600

550

500

450

400

350

300

250

200

150

100

UNCE

800

750

700

650

600

550

500

450

400

350

300

250

200

150

100

CHART 3

PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY

PER FINE OUNCE U.S. DOLLARS PER FINE

12.5 Kg BARS AFTERNOON FIXING PRICE

1978 1979 1980 1981


28

24

20

16

12

8

4

24

20

16

12

8

4

+ 0

16

12

8

4

0

28

24

20

16

12

8

4

24

20

16

12

8

4

+ 0

16

12

8

4

0

CHART 4

CALL MONEY RATES WEEKLY SERIES

:NT PER ANNUM PERCENT PER A!

U. S. FEDERAL FUNDS U. K. 2-DAY LOCAL AUTHORITY

LLLLLLLLLLL

EURO-SWISS FRANC CANADA

NETHERLANDS

FRANCE

GERMANY

JAPAN EURO-DM

1979 1981 1979 1981


20

16

12

8

4 22

18

14

10

6 16

12

8

4

JUM

20

16

12

a

4 t 6

12

8

4

0

12

8

4

0

CHART 5

3-MONfH INTEREST RATES WEEKLY SERES

NT PER ANNUM PERCENT PER A^

U.S. CD'S

UK. INTERBANK STERLING

WEIGHTED AVERAGE FOREIGN RATE

CANADIAN FINANCE CO. PAPER GERMAN INTERBANK RATE

LOANS AND DISCOUNTS JAPANESE BANK

SWISS INTERBANK RATE

viVi 1979 1981 1979 1981


24

20

16

12

8

4 24

20

16

12

8

4 24

20

16

12

8

4

CHART 6

EURO-DOLLAR DEPOSIT RATES LONDON AVERAGES FOR WEEK ENDING WEDNESDAY

ENT PER ANNUM PERCENT PER AH

OVERNIGHT 3-MONTH

i U r n 11 i

6-MONTH 7-DAY

1-MONTH

-

1-YEAR

-

I I I I I I

-

1979 1981 1979 1981


PERCENT PER ANNUM

26

CHART 7

SELECTED EURO-DOLLAR AND U. S. MONEY MARKET RATES DIFFERENTIAL: PLUS(+), FAVORS BORROWING IN U. S.

AVERAGES FOR WEEK ENDING WEDNESDAY

FEDERAL FUNDS

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

I I I I I I I

DIFFERENTIAL

3-MONTH E U R O - D O L L A R DEPOSITS

90-DAY CO'S

J _ J ,1 I i l l 1 1 1 1 1

PERCENT PER ANNUM

26

m

1979 1 PERCENT ON D IFFERENTIAL S C A L E = 2 PERCENT ON RATE S C A L E

1961

-DIFFERENTIAL >

-

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 1979 1981

18

%S

10

6 2

o

1

2

3

4


CHART 8

INTEREST ARBITRAGE: 3-MONTH FUNDS DIFFERENTIAL: PLUS(+), INDICATES FAVOR DOLLAR ASSETS

AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER ANNUM

28

20

12

EURO-DOLLAR DEPOSITS

INTERBANK STERLING COVERED LONDON

20

12

INTERBANK DM COVERED FRANKFURT


I I l i

PERCENT PER ANNUM

DIFFERENTIAL

CANADIAN FINANCE CO. PAPER, COVERED k

n fl if {

fr' //

I I I

j w l /

. r ~ y U. S. COMMERCIAL PAPER

i i i 111111111111

- 12

' I DIFFER ENTIAL

1 1 1 1 1 1 h I n f i l l n

4 2

l l l l l l l l

DIFFERENTIAL


DIFFERENTIAL

1979 1981 1979 1981 1 PERCENT ON D IFFERENTIAL S C A L E = 2 PERCENT ON RATE S C A L E


PEP 15

13

11

9

7 10

8

6

4 16

14

12

10

8

6 14

12

10

8

6

15

13

11

9

7 7

5

3

1

17

15

13

11

9

7 13

11

9

7

5

CHART 9

LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES

ENT PER ANNUM PERCENT PER AL

UNITED STATES

GERMANY

FRANCE

NETHERLANDS

U. S. CORPORATE MONTHLY

Aaa BONDS

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

CANADA

I I I

-

SWITZERLAND -

I I i 11111111111 M l M l M l M

UNITED KINGDOM

MONTHLY

JAPAN

1979 1981 1979 1981


RATIO 1969=

180

160

140

120

100

80 400

360

320

280

240

200 200 180

160

140

120

100

80

CHART 10

INDUSTRIAL STOCK INDICES WEEKLY SERES

CALE )0

RATIO 196

UNITED STATES

FRANCE G E N E R A L INDEX

GERMANY

SWITZERLAND

UNITED KINGDOM

1979 1981 1979 1981


SERIES NAME LAST VALUE PLOTTED

DATE VALUE

CHART 1. SPOT EXCHANGE RATES AND INDICES

WEEKLY AVERAGES, NOON BUYING RATES (U.S. CENTS)

GERMAN MARK JAN. 14 50. .41 JAPANESE YEN JAN. 14 0. ,49254 DUTCH GUILDER JAN. 14 46. ,36 U.K. POUND JAN. 14 239. .72 CANADIAN DOLLAR JAN. 14 84. .08 FRENCH FRANC JAN. 14 21. ,79 SWISS FRANC JAN. 14 55. .59 BELGIAN FRANC JAN. 14 3. .13299 ITALIAN LIRA JAN. 14 0. .10611

INDICES, MARCH 1973 BASE RATES = 100

GERMAN MARK JAN. 14 141. .80 JAPANESE YEN JAN. 14 128. .96 DUTCH GUILDER JAN. 14 133. .09 U.K. POUND JAN. 14 96. .96 CANADIAN DOLLAR JAN. 14 83. .80 FRENCH FRANC JAN. 14 98. .20 SWISS FRANC JAN. 14 178. .83 BELGIAN FRANC JAN. 14 123. .46 ITALIAN LIRA JAN. 14 60. .28

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

JAN. 14 90. 73 JAN. 14 138. 56 JAN. 14 122. 03 JAN. 14 125. 08 JAN. 14 88. 82 JAN. 14 76. 11 JAN. 14 89. 97 JAN. 14 168. 07 JAN. 14 115. 17 JAN. 14 53. 40 JAN. 14 92. 79

CHART 2. 3-MONTH FORWARD EXCHANGE

CANADIAN DOLLAR U.K. POUND GERMAN MARK FRENCH FRANC SWISS FRANC DUTCH GUILDER JAPANESE YEN ITALIAN LIRA

, PREMIUM OR DISCOUNT JAN. 14 1.16 JAN. 14 3.87 JAN. 14 8.94 JAN. 14 6.70 JAN. 14 12.62 JAN. 14 8.63 JAN. 14 9.45 JAN. 14 0.90


SERIES NAME LAST Vft-LOE PLOTTED

DATE VALUE

CHART 3. GOLD PRICE IN LONDON, AFTERNOON FIXING

U.S. DOLLARS PER FINE OUNCE JAN. 14 566.75

. CALL MONEY PATES

U.S. FEDERAL FUNDS JAN. 14 19.64 OVERNIGHT EURO-DOLLAR DEPOSITS JAN. 14 20.34 U.K. 2-DAY LOCAL AUTHORITY DEPOSITS JAN. 9 13.75 CANADA JAN. 2 17.17 GERMANY JAN. 9 9.05 EURO-DM JAN. 2 8.92 JAPAN JAN. 9 8.75 FRANCE JAN. 9 10.75 NETHERLANDS DEC. 12 7.85 EURO-SWISS FRANC JAN. 2 3.88

CHART 5. 3-MONTH INTEREST RATES

U.S. 90-DAY CD'S, SECONDARY MARKET JAN. 14 17. 13 GERMAN INTERBANK LOAN JAN. 14 9. 39 JAPANESE BANK LOANS S DISCOUNTS JAN. 14 9. 04 CANADIAN FINANCE PAPER JAN. 14 16. 80 INTERBANK STERLING JAN. 14 14. 21 SWISS INTERBANK LOAN JAN. 14 5. 50 WEIGHTED AVERAGE FOREIGN INTEREST RATE JAN. 14 11. 36

(G-10 COUNTRIES PLUS SWITZERLAND)

CHAFT 6. EURO-DOLLAR DEPOSIT RATES: LONDON

OVERNIGHT JAN. 14 20.34 7-DAY JAN. 14 20.09 1-MONTH . JAN. 14 19.80 3-MONTH JAN. 14 18,06 6-MONTH JAN. 14 16.69 1-YEAR JAN. 14 15.29

CHART 7. SELECTED EURO-DOLLAR AND U.S. MONEY MARKET RATES

OVERNIGHT EURO-DOLLAR DEPOSITS JAN. 14 20. 34 U.S. FEDERAL FUNDS JAN. 14 19. 64 DIFFERENTIAL ADJ. FOR RESERVE REQUIREMENTS JAN. 14 0. 70 3-MONTH EURO-DOLLAR DEPOSIT RATE JAN. 14 18. 06 U.S. 90-DAY CD'S, SECONDARY MARKET JAN. 14 17. 19 DIFFERENTIAL JAN. 14 0. 87


SERIES NAME LAST VALUE PLOTTED

DATE VALUE

CHJPT 9. INTEREST ARBITRAGE, 3-MONTH FUNDS EURO-DOLLAR DEPOSIT JAN. 14 18. .06 INTERBANK STERLING (LONDON) , COVERED JAN. 14 18. ,22 DIFFERENTIAL JAN. 14 -0. .16

U.S. COMMERCIAL PAPER JAN. 14 16. .69 CANADIAN FINANCE PAPER, COVERED JAN. 14 18.00 DIFFERENTIAL JAN. 14 -1. .32

EURO-DOLLAR DEPOSIT JAN. 14 18. .06 INTERBANK DM (FRANKFURT), COVERED JAN. 14 18. .54 DIFF3RENTIAL JAN. 14 -0. .47 EURO-DOLLAR DEPOSIT JAN. 14 18. .06 SWISS INTERBANK, COVERED JAN. 14 18. .29 DIFFERENTIAL JAN. 14 -0. .23

CHART 9. LONG TERM COVER MBNT BOND YIELDS

UNITED STATES JAN. 9 12. .31 GERMANY JAN. 2 9. .03 JAPAN (MONTHLY) NOV. 9. .52 SWITZERLAND DEC. 19 4. .73 CANADA JAN. 2 12. .67 FRANCE NOV. 14 14. .23 NETHERLANDS DEC. 12 10. .36 UNITED KINGDOM JAN. 9 11. .58

U.S. CORPORATE

AAA BONDS EURO-DM BONDS EURO-DOLLAR BONDS

NOV. 12.97 DEC. 6.63 OCT. 11.27

CHART 10. INDUSTRIAL STOCK INDICES

UNITED STATES JAN. 9 141. .62 JAPAN JAN. 9 331. .68 FRANCE DEC. 26 154. .30 UNITED KINGDOM JAN. 9 109. .62 SWITZERLAND JAN. 9 75. .99 GERMANY JAN. 9 95. .17


FEDERAL RESERVE statistical release QL5*>" m

H. 10 (512) FOREIGN EXCHANGE RATES JANUARY 16, 1981

FOR THE WEEK ENDING JANUARY 16, 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 MONETARY

UNIT (RATE U.S. CENTS

COUNTRY MONETARY

UNIT JAN. 12 JAN. 13 JAN. 14 JAN. 15 JAN. 16

AUSTRALIA DOLLAR 118.0000 117.9300 118.0800 118.1500 117.8800 AUSTRIA SCHILLING 7.11744 7.06 714 7.08717 7.06714 6.99301 BELGIUM FRANC 3.12793 3. 10463 3.11624 3. 10752 3.09789 CANADA DOLLAR 84.0760 34.0124 83.9701 84.0478 83.8997 DENMARK KRONE 16.3733 16.2602 16.3332 16.2549 16.1996 FINLAND MARKKA 26.0146 25.8732 25.9370 25.8098 25.7135 FRANCE FRANC 21.7960 21.6029 21.6732 21.5889 21.5517 GERMANY D. MARK 50,3728 49.9875 50.1882 49.9875 49.8256 INDIA RUPEE 12.6100 12.5200 12.5500 12. 5600 12.5500 IRELAND POUND 188.5000 186.8000 187.3500 187.3000 195.3000 ITALY LIRA 0.10616 0. 10504 0.10543 0.10518 0.10455 JAPAN YEN 0.48996 0.49189 0.49249 0.49566 0.49285 MALAYSIA DOLLAR 44.9035 44.6927 44.9135 44.8833 44.9640 MEXICO PESO 4.2772 4.2781 4.2735 4.2753 4.2753 NETHERLANDS GUILDER 46.3070 45.9559 46.1467 45.9559 45.8821 NEW ZEALAND DOLLAR 96.2500 96.0000 96.0000 96.1000 95.9700 NORWAY KRONE 19.3517 19.2641 19.3013 19.2234 19.1022 PORTUGAL SSCUDO 1.8815 1.8622 1.9664 1.8622 1.8553 SOUTH AFRICA RAND 133.8500 133.3000 133.7500 133.6000 133.3000 SPAIN PESETA 1.2508 1.2385 1.2418 1.2385 1.2338 SRI LANKA RUPEE 5.9701 5.9701 5.9701 5.97 01 5.9701 SWEDEN KB ON A 22.6706 22.5124 22.5912 22.5327 22.4719 SWITZERLAND FRANC 55.4017 55. 1877 55.3404 55.0813 54.884 8 UNITED KINGDOM POUND 239.7000 238.8000 240.2500 240.0500 239.3500


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h13_19810119.pdf