-
( 5 1 / S 1 7 U - ^
Selected Interest & Exchange Rates Weekly Series of
Charts
January 26, 1981 INTERNATIONAL FINANCE
Prepared by the BOARD OF GOVERNORS FINANCIAL MARKETS FEDERAL
RESERVE SYSTEM SECTION Washington, D.C. 20551
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Reserve Bank of St. Louis
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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
8. 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.
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Reserve Bank of St. Louis
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RATIO SCALE MARCH 1973=100
120
100
80
140
120
100
80
160
140
120
100
CHART 1
SPOT EXCHANGE INDICES DOLLAR PRICES OF FOREIGN CURRENCIES AND
WEIGHTED AVERAGE VALUES (THIN LINE)
AVERAGES FOR WEEK ENDING WEDNESDAY
- -
- r \ / \
FOREIGN CURRENCY
' -
PRICE OF US. DOLLAR
I I I 1 1 1 I I I I I I I I I I I
DUTCH GUILDER
' A. y V JAPANESE YEN ,
I I I i i i
RATIO SCALE MARCH 1973=100
CANADIAN DOLLAR
FRENCH FRANC
SWISS FRANC
160 BELGIAN FRANC 160
- A a / S x y 140
120
I I I 1 1 1 ,, -100
ITALIAN LIRA
UK. POUND
100
- 80
60
1979 1981 1979 1981
Digitized for FRASER http://fraser.stlouisfed.org/ Federal
Reserve Bank of St. Louis
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6
0
6
6
8
6
2
2
6
8 12
6
8
6
24
8
24
12
6
8
a
16
12
6
0
12
6
8
6
CHART 2
3-MONTH FORWARD EXCHANGE RATES PREMIUM (+) OR (-)
AVERAGES FOR WEEK ENDING WEDNESDAY :ENT PER ANNUM PERCENT PER
AL
CANADIAN DOLLAR
U. K. POUND
FRENCH FRANC
- ITALIAN LIRA -
N / W
I I I I I I : , y
11111111111
DUTCH GUILDER
A/ SWISS FRANC i
f -
I I I I I I
JAPANESE YEN
1979 1961 1979 1961
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Reserve Bank of St. Louis
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U.S. [
800
750
700
650
600
550
500
450
400
350
300
250
200
150
100
OUNCE
800
750
700
650
600
SSC
SOC
450
400
350
300
250
200
150
100
CHART 3
PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY
LLARS PER FINE OUNCE U.S. DOLLARS PER FINE
I I L
12.5 Kg BARS AFTERNOON FIXING PRICE
1978 1979 I I I I I I I I I I I
1980 i i I i i I i i I i i
1981
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Reserve Bank of St. Louis
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PERI
28
24
20
16
12
6
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 AL
U. S. FEDERAL FUNDS U. K. 2-DAY LOCAL AUTHORITY
EURO-SWISS FRANC CANADA
NETHERLANDS
U FRANCE
- GERMANY -
jp EURO-DM
I I I'i I I I -
1979 1981 1979 1981
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Reserve Bank of St. Louis
-
20
16
12
8
4 22
18
14
10
6 16
12
8
4
20
16
12
8
4 16
12
8
4
0
12
8
4
0
CHART 5
3-MONTH INTEREST RATES WEEKLY SERIES
:NT PER ANNUM PERCENT PER AH
U.S. CD'S
U.K. INTERBANK STERLING
WEIGHTED AVERAGE FOREIGN RATE
CANADIAN FINANCE CO. PAPER GERMAN INTERBANK RATE
LOANS AND DISCOUNTS JAPANESE BANK
SWISS INTERBANK RATE -
-
1979 1981 1979 1981
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Reserve Bank of St. Louis
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24
20
16
12
8
4 24
20
16
12
8
4 24
20
16
12
8
4
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 AL
OVERNIGHT 3-MONTH
6-MONTH 7-DAY
1-MONTH
-
1-YEAR
-
J I ,l I I I
1979 1981 1979 1981
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Reserve Bank of St. Louis
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PERCENT PER ANNUM
26
CHART 7
SELECTED EURO-DOLLAR AND U. S. MONEY MARKET RATES DIFFERENTIAL:
FLUSH, FAVORS BORROWING IN U. S.
AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER ANNUM
26
FEDERAL FUNDS 3-MONTH
EURO-DOLLAR DEPOSITS
OVERNIGHT EURO-DOLLAR DEPOSITS
I I I I I I I I I I
DIFFERENTIAL DEFERENTIAL
vvvUVil
1 1 1 1 1 1 1 111
1979 1 PERCENT ON DIFFERENTIAL SCALE = 2 PERCENT ON RATE
SCALE
1981 1979 1981
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Reserve Bank of St. Louis
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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
2 28
20
12
INTERBANK STERLING COVERED LONDON
INTERBANK DM COVERED FRANKFURT
EURO-DOLLAR DEPOSITS
I I I
PERCENT ME* ANNUM
28
CANADIAN FINANCE CO. PAPER, COVERED
U. S. COMMERCIAL PAPER
i 1 1 1 ,
l \ f \ r \ f \ A
DIFFERENTIAL -
~~ I I I
DIFFERENTIAL DIFFERENTIAL
! I I l l I I I ! I l
20
12
DIFFERENTIAL
yv^
" i l l
f :
4 2
EURO-DOLLAR DEPOSITS
1979 1981 1 PERCENT ON DIFFERENTIAL SCALE = 2 PERCENT ON RATE
SCALE
1979 1981
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Reserve Bank of St. Louis
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PER
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 At
UNITED STATES
GERMANY
FRANCE
NETHERLANDS
CANADA
" i l l I I I
U. S. CORPORATE MONTHLY
-
Aaa BONDS H -EURO-DOLLAR BONDS
I I I I I I I , | | | I | , I , 7
- SWITZERLAND J i -
I I I -
UNITED KINGDOM
MONTHLY
JAPAN
1979 1981 1979 1981
Digitized for FRASER http://fraser.stlouisfed.org/ Federal
Reserve Bank of St. Louis
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RATIO SCALE 1969=100
CHART 10
INDUSTRIAL STOCK INDICES WEEKLY SERIES
UNITED STATES
JAPAN
FRANCE GENERAL INDEX
-
A
GERMANY -
Vv I I I
Az^v SWITZERLAND
UNITED KINGDOM
RATIO SCALE 1969=100
180
160
1 4 0 1
120 I
100
60
100
9 0
80
70
60
50 200 180
160
# 140
#
120
100
80
1979 1981 1979 1981
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Reserve Bank of St. Louis
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SERIES NAME LAST VALUE PLOTTED
DATE VALUE
C H A R T 1. SEOT EXCHANGE RATES ABC INDICES
WEEKLY AVERAGES, NCON BUYING BATES (U.S. CENTS)
GERMAN MARK JAN. 21 49. ,95 JAPANESE YEN JAN. 21 0.49664 DUTCH
GUILDER JAN. 21 45. ,96 U.K. PCUND JAN. 21 240.89 CANADIAN DCLLAR
JAN. 21 84, ,01 FRENCH FR'ANC JAK- 21 21.59 SWISS FRANC JAN. 21 54.
96 BELGIAN FRANC JAN. 21 3. .10523 ITALIAN LIRA JAN. 21 0.10504
IICES, MARCH 197 3 BASE RATES = 100
GERMAN MARK JAN. 21 140. ,51 JAPANESE YEN JAN. 21 130.04 DUTCH
GUILDER JAN. 21 131. ,95 U.K. PCUND JAN. 21 97. ,43 CANADIAN DCLLAR
JAN. 21 83. .73 FRENCH FRANC JAN. 21 97. ,30 SWISS FRANC JAN. 21
176. ,82 BELGIAN FRANC JAN. 21 122. ,36 ITALIAN LIRA JAN. 21 59.
,67 iGHTEE AVERAGE EXCHANGE VALUE INDICES, MAR 1973 = 100
(G-10 COUNTRIES PLUS SWITZERLAND) U.S. DCLLAR JAN. 21 91, .12
GERMAN MARK JAN. 21 137. ,63 JAPANESE YEN JAN. 21 123. .64 DUTCH
GUILDER JAN. 21 124. .40 U.K. PCUND JAN. 21 89. .63 CANADIAN DOLLAR
JAN. 21 76. .33 FRENCH FRANC JAN. 21 89.40 SWISS FRANC JAN. 21 166.
.71 BELGIAN FRANC JAN. 21 114. .50 ITALIAN LIRA JAN. 21 53. .02
SWEDISH KRCNA JAN. 21 92. .42
CHART 2. 3-MONTH FORWARD EXCHANGE RATES, PREMIUM OR DISCCUNT
CANADIAN DOLLAR JAN. 21 1.53 U.K. PCUND JAN. 21 4.44 GERMAN MARK
JAN. 21 9.56 FRENCH FRANC JAN. 21 7.42 SWISS FRANC JAN. 21 12.93
DUTCH GUILDER JAN. 21 9.10 JAPANESE YEN JAN. 21 10.45 ITALIAN LIRA
JAN. 21 1.05
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SERIES NAME LAST VALUE PLOTTED
DATE VALUE
CHART 3. GCLD PRICE IN LONDON, AFTERNOON FIXING U.S. DOLLARS PER
FINE OUNCE JAN. 21 567.80
CHART 4. CALL MONEY RATES
U.S. FEDERAL FUNDS JAN. 21 19. .35 OVERNIGHT EURO-CCLLAR
DEPOSITS JAN. 21 19. .76 U.K. 2-DAY LOCAL AUTHORITY DEPOSITS JAN.
16 13. ,88 CANADA JAN. 2 17. .17 GERMANY JAN. 16 9. .10 EURC-DM
JAN. 9 8. .53 JAPAN JAN. 16 8. .81 FRANCE JAN. 16 11. .44
NETHERLANDS DEC. 12 7, .85 EURO-SWISS FRANC JAN. 9 2. .70
CHART 5. 3-MONTH INTEREST RATES U.S. 90-DAY CD'S, SECONDARY
MARKET JAN. 21 17.74 GERMAN INTERBANK LOAN JAN. 21 9.37 JAPANESE
BANK LOANS & DISCOUNTS JAN. 21 8.95 CANADIAN FINANCE PAPER JAN.
21 16.87 INTERBANK STERLING JAN. 21 14.18 SWISS INTERBANK LOAN JAN.
21 5.63 WEIGHTED AVERAGE FOREIGN INTEREST RATE JAN. 21 11.34
(G-10 COUNTRIES PLUS SWITZERLAND)
CHART 6. EURO-DOLLAR DEPOSIT RATES: LONDON OVERNIGHT JAN. 21
19.76 7-DAY JAN. 21 19.65 1-tiCNTH JAN. 21 19.69 3-MCN'IH JAN. 21
18.60 6-MCNTH JAN. 21 17.23 1-YEAR JAN. 21 15.76
CHART 7. SELECTED EURO-DOLLAR AND U.S. MONEY MARKET RATES
JAN. 21 19.76 JAN. 21 19.35 JAN. 21 0.41 JAN. 21 18.60 JAN. 21
17.74 JAN. 21 0.86
OVERNIGHT EURO-DOLLAR DEPOSITS U.S. FEDERAL FUNDS DIFFERENTIAL
AEJ. FOR RESERVE REQUIREMENTS 3-MCNTH EURO-DOLLAR DEPOSIT RATE U.S.
9 0-DAY CD'S, SECONDARY MARKET DIFFERENTIAL
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SERIES NAME LAST VALUE PLOTTED
DATE VALUE
CHART 8. INTEREST ARBITRAGE, 3-MONTH FUNDS EURC-DCLLAR DEPOSIT
INTERBANK STERLING (LONDON), COVERED DIFFERENTIAL U.S. COMMERCIAL
PAPER CANADIAN FINANCE PAPEE, COVERED DIFFERENTIAL EUBC-DCLLAB
DEPOSIT INTERBANK EM (FRANKFURT), COVERED DIFFERENTIAL EURO-DOLLAR
DEPOSIT SWISS INTERBANK, COVERED DIFFERENTIAL
JAN. 21 18. 60 JAN. 21 18. 77 JAN. 21 -0. 17
JAN. 21 17. 17 JAN. 21 13. 46 JAN. 21 -1. 29 JAN. 21 18. 60 JAN.
21 13. 15 JAN. 21 -0. 55
JAN. 21 18. 60 JAN. 21 18. 74 JAN. 21 -0. 14
CHART 9. LCNG TERM GOVEEMENT BOND YIELDS UNITED STATES GERMANY
JAPAN (MONTHLY) SWITZERLAND CANAEA FRANCE NETHERLANDS UNITED
KINGDOM
JAN. 16 12. 53 JAN. 9 8. 92 NOV. 9. 52 JAN. 9 4. 58 JAN. 2 12.
67 NOV. 14 14. 23 DEC. 12 10. 36 JAN. 9 11. 5 8
U.S. CORPORATE AAA 3CNDS EUR CDM BONDS EURO-DOLLAR BONDS
DEC. 13.21 EEC. 6.63 OCT. 11.27
CHART 10. INDUSTRIAL STOCK INDICES UNITED STATES JAN. 16 143.00
JAPAN JAN. 16 333.82 FRANCE EEC. 26 154.30 UNITED KINGDOM JAN. 16
106.24 SWITZERLAND JAN. 16 75.37 GERMANY JAN. 9 95.17
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FEDERAL RESERVE statistical release
FOREIGN EXCHANGE RATES ^ m 6 B Y 2 3 ' 1 9 8 1
FOP. THE WEEK ENDING JANUARY 23, 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. 19 JAN. 20 JAN. 21 JAN. 22 JAN. 23 AUSTRALIA DOLLAR
118.1000 118.1700 118.6500 118.2600 1 18.0200 AUSTRIA SCHILLING
7.04722 7.03730 7.09723 6.99423 6.96379 BELGIUM FRANC 3.09693 3.
10270 3.12110 3.07125 3.05624 CANADA DOLLAR 84.0266 84.0054 84.0760
83.9561 83.9913 DENMARK . KRONE 16.1943 16.2180 .16.306 5 16. 0992
16.0064 FINLAND MARKKA 25.7666 25.7202 25.8164 25.6706 25. 5558
FRANCE FRANC 21.5517 21. 5494 21 .7155 21.3675 21.2856 GERMANY D.
MARK 49.7760 50.0000 50.1630 49.3949 49.1400 INDIA RUPEE 12.5500
12.6600 12.6100 12.6100 12.5300 IRELAND POUND 136.1000 185.6000
186.7500 184. 3000 183.8000 ITALY LIRA 0.10493 0. 10499 0.10557 0.
10406 0.10347 JAPAN YEN 0.49432 0. 49838 0.50201 0.49788 0.49322
MALAYSIA DOLLAR 45.0248 44.9944 45.1060 44.9035 44.8732 MEXICO PESO
4.2827 4.2863 4.2845 4.2817 4.2735 NETHERLANDS GUILDER 45.8295
46.0088 46. 1467 45.4855 45.2899 NEW ZEALAND DOLLAR 96.1000 96.1500
96.4 70 0 96.4000 9 6.0600 NORWAY KRONE 19.1205 19.0894 19.1497
19.0404 18.9717 PORTUGAL ESCUDO 1.8664 1.8612 1.8685 1.8587 1.8433
SOUTH AFRICA RAND 133.5200 133.6200 133.8400 133.4000 133.3000
SPAIN PESETA 1.2398 1.2392 1.2472 1.2369 1.2338 SRI LANKA RUPEE
5.9701 5. 9701 5.9701 5. 9701 5.9701 SWEDEN KRONA 22.4593 22.5174
22.5836 22.4115 22.2816 SWITZERLAND FRANC 54.6747 54.9753 55.1877
54.5405 54.3331 UNITED KINGDOM POUND 240.5000 241.8500 242.7000
240.3000 240.7000
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