h13_19890724.pdf

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Selected Interest & Exchange Rates Weekly Series of Charts

July 24,1989 DIVISION OF INTERNATIONAL FINANCE

Prepared by the BOARD OF GOVERNORS FINANCIAL MARKETS FEDERAL RESERVE SYSTEM SECTION Washington, DC. 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 R A T E S -H.10 RELEASE

CHARTS

1. SPOT EXCHANGE RATE INDICES

2. 3-MONTH FORWARD EXCHANGE RATES

3. GOLD PRICELONDON

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 $24.00 per year or $.60 each in the United States, its possessions, Canada, and Mexico; 10 or more of the same issue to one address , $22.50 per year or $.55 each. Elsewhere, $30.00 per year or $.70 each. Address requests to Publications Services, Division of Administrative Services, and make pay-ment 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.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

140

120

100

90

80

70

280

240

200

180

160

140

120

100 90

80

70

60

50

200 180

160

140

120

100

120

100

90

80

70

60

50

1=100 140

120

100

90

80

70

280

240

200

180

160

140

120

100 90

80

70

60

50

200 180

160

140

120

100

60

50

45

40

35

30

25

CHART 1

SPOT EXCHANGE INDICES DOLLAR PRICES OF FOREIGN CURRENCIES AND WEIGHTED AVERAGE VALUES (THIN LINE)

AVERAGES FOR WEEK ENDING WEDNESDAY

SCALE 4 1 9 7 3 = 1 0 0

RATIOS MARCH 1971

FOREIGN CURRENCY PRICE OF U.S. DOLLAR

__ SWISS FRANC

BELGIAN FRANC

JAPANESE YEN

I I I I I I

-

U.K. POUND

CANADIAN DOLLAR

DUTCH GUILDER - GERMAN MARK

FRENCH FRANC

i i I i i l i i l i i I I I I I I I

1987 1989

- ITALIAN LIRA -

I I I I I I

X. -

1987 1989

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

CHART2

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

AVERAGES FOR WEEK ENDING WEDNESDAY

PERCENT PER ANNUM

4

CANADIAN DOLLAR

1 1 1

/ V i i i

^ -x _ l l l l Ml i l l 1

GERMAN MARK

1 1 1 l l h l l l . i l >

SWISS FRANC

1 1 1 1 1 1 i i h i l u l n 11111,11111

PERCENT PER ANNUM

4

U. K. POUND

/V i i i

X 1 1 1

-

JAPANESE YEN

1 1 1 1 i 1 i i l i i l . i l i .

DUTCH GUILDER

1 1 1 1 1 1 I I I O I I I I M

FRENCH FRANC ITALIAN LIRA

12

1987 1989 1987 1989

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

U.S.

520

500

480

460

440

420

400

380

360

340

320

300

520

500

480

460

440

420

400

380

360

340

320

300

CHART 3

PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY

ILLARS PER FINE OUNCE U.S. DOLLARS PER FINE 01

12.5 Kg BARS AFTERNOON FIXING PRICE

I I I I I I I I I I I I I I I I I I I

1986 1987 1988 1989

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

16

12

8

4

0

16

12

8

4

0

16

12

8

4

0

16

12

8

4

0

16

12

8

4

0

20

16

12

8

4

0

CHART4

CALL MONEY RATES WEEKLY SERIES

ENTPER ANNUM

U.S. FEDERAL FUNDS

I I I I I

FRANCE

I I I I I I

PERCENT PER ANF

JAPAN

GERMANY

UNITED KINGDOM

CANADA

NETHERLANDS

I L i

SWITZERLAND

r 1987 1989 1987 1989

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

12

10

8

6

4

2

16

14

12

10

8

6

8

6

4

2

0

10

8

6

4

2

12

10

8

6

4

2

16

14

12

10

8

6

8

6

4

2

0

10

8

6

4

2

CHARTS

3-MONTH INTEREST RATES WEEKLY SERIES

ENTPER ANNUM

U.S. CD'S

WEIGHTED AVERAGE FOREIGN RATE

PERCENT PER ANH

FRENCH INTERBANK RATE

I I III I I

U.K. INTERBANK STERLING

GERMAN INTERBANK RATE

JAPANESE GENSAKI RATE

CANADIAN FINANCE CO.

PAPER

f -

I I I I I I

SWISS INTERBANK RATE jJ -

I I I I I I

-

NETHERLANDS INTERBANK RATE -

I I I

1987 1989 1987 1989

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

14

12

10

8

6

4

14

12

10

8

6

4

14

12

10

8

6

4

14

12

10

8

6

4

14

12

10

8

6

4

14

12

10

8

6

4

CHART 6

EURO-DOLLAR DEPOSIT RATES LONDON AVERAGES FOR WEEK ENDING WEDNESDAY

:ENT PER ANNUM PERCENT PER AN*

OVERNIGHT 3-MONTH

7-DAY

1-MONTH

: 6-MONTH

i i i I I I '

-

1-YEAR

I I I I I I

1987 1989 1987 1989

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

14

12

10

8

6

4

2

2

1

+ 0

1

14

12

10

8

6

4

2

2

1

+ 0

1

CHART7

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

AVERAGES FOR WEEK ENDING WEDNESDAY

PERCENT RERAN

FEDERAL FUNDS DASHED LINE

OVERNIGHT EURO-DOLLAR DEPOSITS

I I I I I I I I I I I I I I I I I

DIFFERENTIAL

J 1 1 1 1 n 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1

3-MONTH EURO-DOLLAR DEPOSITS

-

-

y ^ v

i i i

90-DAY CD'S DASHED UNE

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

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 1987 1989

ENTIAL SCALE = 2 PERCENT ON RATE SCALE

1987 1989

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

16

12

8

4

0

2

+ 0

2

16

12

8

4

0

2

+ 0

2

16

12

8

4

0

2

+ 0

2

16

12

8

4

0

2

+ 0

2

CHART 8

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

AVERAGES FOR WEEK ENDING WEDNESDAY

;ENT PER ANNUM PERCENT PER AW

INTERBANK STERLING COVERED LONDON

EURO-DOLLAR DEPOSITS DASHED LINE

CANADIAN FINANCE CO. PAPER, COVERED

U.S. COMMERCIAL PAPER DASHED LINE

I I I I ' l l ' ' l u l l H i l l I M i l l I I I I I I I I I I I I I 11 I I I 11 I 11111111111111

DIFFERENTIAL

I I I I I I

rzWyvW

l l l l l l l l l l l l l l l l l l l l l l

DIFFERENTIAL

INTERBANK DM COVERED FRANKFURT

EURO-DOLLAR DEPOSITS DASHED LINE

I I I I I I I I I l M I I I I I I I M 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 I I I I I I I I

SWISS INTERBANK (SF) COVERED

EURO-DOLLAR DEPOSITS DASHED LINE

DIFFERENTIAL

_L_L n l i i l i i l i i i l i i l i i l n

DIFFERENTIAL

/ V V V ^ V

I I I I I I l l l l l l l l l l l i i l i i l i i l n

1987 1989

I PERCENT ON DIFFERENTIAL SCALE = 2 PERCENT ON RATE SCALE

1987 1989

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

CHART9

LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES

PERCENT PER ANNUM

UNITED STATES

14

UNITED KINGDOM 12

10

8

6

10

SWITZERLAND 8

6

4

2

10

NETHERLANDS MONTHLY 8

6

4

2

1987 1989

PERCENT PER ANNUM

CANADA

FRANCE

10

J A P A N

10

- GERMANY - 8

- 6

I I I ii I n h i l l i

4

2

1987 1989

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

CHART 10

INDUSTRIAL STOCK INDICES WEEKLY SERIES

RATIO SCALE 1969=100

RATIO SCALE 1969=100

600

500 -

400 - UNITED STATES -

300 - / W -

200 - -

150 I I I I I I | , | | | | | , | | | 11111111111

300 -

200

150

100

600

500

400

300

200

JAPAN

SWITZERLAND f

I I I

CANADA

I I I I l I

600

- - 500

- NETHERLANDS - 400

w \ - 300

- - 200

1 1 1 11111111111 150

GERMANY

FRANCE

UNITED KINGDOM

1987 1989 1987 1989

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

S E R I E S NAME LAST VALUE PLOTTED

DATE VALUE

CHART 1 . SPOT EXCHANGE BATES AND I N D I C E S

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

GERMAN MARK JULY 1 9 5 2 . 7 1 JAPANESE YEN JULY 19 0 . 7 0 9 5 0 DUTCH GUILDER JULY 19 4 6 . 7 3 U . K . POUND JULY 19 1 6 1 . 8 8 CANADIAN DOLLAR JULY 19 8 3 . 9 5 FRENCH FRANC JULY 19 1 5 . 5 3 SWISS FRANC JULY 19 6 0 . 9 7 BELGIAN FRANC JULY 19 2 . 5 1 8 4 5 ITALIAN LIRA JULY 1 9 0 . 0 7 2 7 2 SWEDISH KRONA JULY 19 1 5 . 42

I N D I C E S , MARCH 1 9 7 3 BASE BATES = 1 0 0

GERMAN MABK JULY 19 14 8 . 2 7 JAPANESE YEN JULY 19 1 8 5 . 7 7 DUTCH GUILDER . JULY 19 1 3 # . 1 5 U. K. POUND JULY 19 6 5 . 4 7 CANADIAN DOLLAR JULY 1 9 8 3 . 67 FRENCH FRANC JULY 19 6 9 . 9 9 SWISS FRANC JULY 19 1 9 6 . 14 BELGIAN FRANC JULY 19 9 9 . 24 ITALIAN LIRA JULY 19 4 1 . 31

WEIGHTED AVERAGE EXCHANGE VALUE I N D I C E S , NAB 1 9 7 3 = 100 ( 3 - 1 0 COUNTRIES PLUS SWITZERLAND)

U. S . . DOLLAR JULY 1 9 9 9 . 53 GERMAN MARK JULY 19 1 5 9 . 4 8 JAPANESE YEN JULY 19 1 9 9 . 26 DUTCH GUILDER JULY 19 1 3 6 . 3 8 U. K. POUND JULY 19 6 2 . 4 0 CANADIAN DOLLAR JULY 19 8 2 . 19 FRENCH FRANC JULY 19 6 6 . 9 0 SWISS FRANC JULY 19 1 9 9 . 2 3 BELGIAN FRANC JULY 1 9 9 8 . 82 ITALIAN L I P A JULY 19 3 8 . 4 6 SWEDISH KRONA JULY 19 6 7 . 16

CHART 2 . 3-MONTH P0B8ABD EXCHANGE RATES, PREMIUM OB DISCOUNT

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

JULY JULY JULY JULY JULY JULY JULY JULY

19 19 19 19 19 19 19 19

- 3 . 2 2 - 4 . 7 3

1 . 9 5 - 0 . 1 7

1 . 9 0 1. 74 3 . 5 4

- 3 . 2 7

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

S E R I E S NAME LAST VALUE PLOTTED

DATE VALUE

CHART 3 . GOLD P R I C E I S LONDON, AFTERNOON F I X I N G

U . S . DOLLARS PER F I N E OUNCE JULY 19 3 7 1 . 9 1

CHART 4 . CALL MONEY RATES

U. S . FEDERAL FUNDS JULY 19 9 . 24 OVERNIGHT EURO-DOLLAR DEPOSITS JULY 19 9 . 15 U. K. JULY 19 1 3 . 94 CANADA JULY 19 1 2 . 52 GERMANY JULY 19 6 . 88 JAPAN JULY 19 5 . 0 6 FRANCE JULY 19 9 . 09 NETHERLANDS JULY 1 9 6 . 83 SWITZERLAND JULY 19 6 . 3 8

CHART 5 . 3-MONTH INTEREST RATES

U . S . 9 0 - D A Y C D ' S , SECONDARY MARKET JULY 19 8 . 7 3 GERMAN INTERBANK LOAN JULY 19 6 . 9 9 JAPANESE GENSAKI RATE JULY 19 4 . 7 0 CANADIAN FINANCE PAPER JULY 19 1 2 . 21 INTERBANK STERLING JULY 1 9 1 3 . 84 SWISS INTERBANK LOAN JULY 19 6 . 7 7 FRENCH INTERBANK RATE JULY 19 9 . 01 NETHERLANDS INTERBANK RATE JULY 19 7 . 04 WEIGHTED AVERAGE FOREIGN INTEREST RATE JULY 12 8 . 51

( G - 1 0 COUNTRIES PLUS SWITZERLAND)

CHART 6 . EURO-DOLLAR DEPOSIT RATES: LONDON

OVERNIGHT JULY 19 9 . 1 5 7-DAY JULY 19 9 . 0 5 1-MONTH JULY 19 9 . 0 1 3-MONTH JULY 19 8 . 8 1 6-MONTH JULY 19 8 . 7 0 1-YEAR JULY 19 8 . 4 9

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

OVERNIGHT EURO-DOLLAR DEPOSITS JULY 1 9 9 . 15 U . S . FEDERAL FUNDS JULY 19 9 . 2 4 DIFFERENTIAL JULY 19 - 0 . 0 9

3-MONTH EURO-DOLLAfi DEPOSIT RATE JULY 19 8 . 81 U . S . 90-DAY C D ' S , SECONDARY MARKET JULY 19 8 . 73 DIFFERENTIAL JULY 19 0 . 0 8

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S E R I E S HARE LAST VALUE PLOTTED

DATE TALUS

CHART 8 . INTEREST ARBITRAGE, 3-HONTH FOHDS

EURO-DOLLAR D E P O S I T JULY 1 9 8 . 81 INTERBANK STERLING (LONDON), COVERED JULY 19 8 . 9 5 DIFFERENTIAL JULY 19 - 0 . 14

U . S . COMMERCIAL PAPER JULY 1 9 8 . 4 3 CANADIAN FINANCE PAPER, COVERED JULY 19 8 . 8 9 DIFFERENTIAL JULY 19 - 0 . 2 6

EURO-DOLLAR D E P O S I T JULY 1 9 8 . 8 1 INTERBANK DM (FRANKFURT) , COVERED JULY 1 9 8 . 9 8 DIFFERENTIAL JULY 19 - 0 . 16

EURO-DOLLAR DEPOSIT JULY 19 8 . 8 1 SWISS INTERBANK, COVERED JULY 1 9 8 . 7 1 DIFFERENTIAL JULY 19 0 . 11

CHART 9 . LON3 TERM GOVERMENT BOND YIELDS

UNITED STATES JULY 1 4 8 . 0 1 GERMANY JULY 1 4 6 . 7 6 JAPAN JULY 14 5 . 0 4 SWITZERLAND JULY 14 5 . 14 CANADA JULY 1 4 9 . 6 0 FRANCE JULY 7 9 . 0 9 NETHERLANDS (MONTHLY) A P R I L 7 . 0 8 UNITED KINGDOM JULY 14 9 . 1 1

U . S . CORPORATE

AAA BONDS MAT 9 . 3 3

CHART 1 0 . STOCK I N D I C E S

UNITED STATES UNITED KIHGDOE CANADA GERMANY SWITZERLAND NETHERLANDS FRANCE JAPAN

JULY 1 2 3 4 7 . 6 3 JULY 1 2 4 0 8 . 5 5 JULY 12 3 8 0 . 0 7 JULY 1 2 2 6 8 . 7 7 JULY 1 2 2 5 1 . 7 3 JULY 12 4 3 9 . 9 7 JULY 12 4 9 0 . 9 4 JULY 12 6 6 7 . 1 7

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

FEDERAL RESERVE statistical release

H . 1 0 ( 5 1 2 )

FOREIGN EXCHANGE RATES FOR THE WEEK ENDING JULY 2 1 , 1 9 8 9

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 rates in New York City for cable transfers payable in foreign currencies:

COUNTRY MONETARY

U N I T (CURRENCY U N I T S PER DOLLAR)

COUNTRY MONETARY

U N I T JULY 1 7 JULY 1 8 JULY 1 9 JULY 2 0 JULY 2 1

^AUSTRALIA DOLLAR 7 5 . 7 0 7 5 . 6 0 7 4 . 7 0 7 5 . 0 3 7 4 . 9 3 AUSTRIA SCHILLING 1 3 . 4 2 0 1 3 . 3 1 0 1 3 . 3 8 0 1 3 . 3 9 0 1 3 . 4 2 0 BELGIUM FRANC 3 9 . 9 4 0 3 9 . 5 6 0 3 9 . 8 0 0 3 9 . 7 5 0 3 9 . 8 9 0 CANADA DOLLAR 1 . 1 9 1 0 1 . 1 9 1 1 1 . 1 8 9 2 1 . 1 8 7 6 1 . 1 8 8 0 C H I N A , P . R . YUAN 3 . 7 3 1 4 3 . 7 3 1 4 3 . 7 3 1 4 3 . 7 3 1 4 3 . 7 3 1 4 DENMARK KRONE 7 . 4 1 2 5 7 . 3 4 7 0 7 . 3 9 0 0 7 . 3 9 0 0 7 . 4 1 1 0 FINLAND MARKKA 4 . 3 0 0 5 4 . 2 6 4 0 4 . 2 8 3 5 4 . 2 7 9 5 4 . 2 9 1 0 FRANCE FRANC 6 . 4 7 0 0 6 . 4 2 3 0 6 . 4 5 4 5 6 . 4 4 9 0 6 . 4 6 5 0 GERMANY D . MARK 1 . 9 0 7 0 1 . 8 9 2 0 1 . 9 0 2 0 1 . 9 0 1 0 1 . 9 0 6 0 GREECE DRACHMA 1 6 5 . 5 7 0 1 6 5 . 8 4 0 1 6 4 . 5 0 0 1 6 5 . 5 8 0 1 6 5 . 5 8 0 HONG KONG DOLLAR 7 . 8 0 6 0 7 . 8 0 4 5 7 . 8 0 4 0 7 . 8 0 8 0 7 . 8 0 7 5 I N D I A RUPEE 1 6 . 5 0 0 0 1 6 . 4 4 0 0 1 6 . 4 9 0 0 1 6 . 4 9 0 0 1 6 . 5 2 0 0

*1RELAND POUND 1 4 0 . 2 0 1 4 1 . 2 0 1 4 0 . 5 0 1 4 0 . 3 0 1 4 1 . 0 0 ITALY LIRA 1 3 8 3 . 5 0 1 3 7 0 . 0 0 1 3 7 5 . 0 0 1 3 7 4 . 5 0 1 3 7 7 . 0 0 JAPAN YEN 1 4 1 . 5 5 1 4 1 . 3 0 1 4 1 . 9 5 1 4 1 . 4 5 1 4 1 . 9 2 MALAYSIA RINGGIT 2 . 6 8 7 0 2 . 6 8 5 0 2 . 6 8 2 0 2 . 6 8 1 0 2 . 6 8 1 0 NETHERLANDS GUILDER 2 . 1 5 1 0 2 . 1 3 4 3 2 . 1 4 6 0 2 . 1 4 4 8 2 . 1 5 0 4

*NEW ZEALAND DOLLAR 5 6 . 9 5 0 5 7 . 0 2 0 5 6 . 5 3 0 5 7 . 4 3 0 5 7 . 4 0 0 NORWAY KRONE 6 . 9 9 7 5 6 . 9 6 2 0 6 . 9 7 7 0 6 . 9 6 9 0 6 . 9 8 3 0 PORTUGAL ESCUDO 1 5 9 . 6 0 0 1 5 8 . 3 5 0 1 5 9 . 1 0 0 1 5 9 . 1 0 0 1 5 9 . 4 5 0 SINGAPORE DOLLAR 1 . 9 6 3 0 1 . 9 5 9 0 1 . 9 6 1 0 1 . 9 6 0 0 1 . 9 5 7 5 SOUTH AFRICA RAND 2 . 7 2 4 0 2 . 6 9 2 5 2 . 7 0 2 5 2 . 7 1 7 0 2 . 7 0 8 0 SOUTH KOREA WON 6 7 0 . 0 0 6 7 0 . 3 0 6 7 0 . 4 0 6 7 0 . 3 0 6 7 0 . 2 0 S P A I N PESETA 1 1 9 . 7 5 0 1 1 8 . 9 0 0 1 1 9 . 1 0 0 1 1 9 . 3 2 0 1 1 9 . 6 3 0 S R I LANKA RUPEE 3 4 . 7 0 8 3 4 . 7 0 8 3 4 . 7 5 8 3 4 . 7 9 8 3 4 . 8 3 7 SWEDEN KRONA 6 . 5 0 6 5 6 . 4 7 1 0 6 . 4 9 2 5 6 . 4 8 6 5 6 . 5 0 0 0 SWITZERLAND FRANC 1 . 6 4 7 5 1 . 6 4 1 0 1 . 6 4 6 8 1 . 6 4 1 5 1 . 6 4 5 7 TAIWAN DOLLAR NA 2 5 . 8 4 0 2 5 . 8 0 7 2 5 . 8 1 0 NA THAILAND BAHT 2 5 . 8 6 0 2 5 . 8 6 0 2 5 . 8 0 0 2 5 . 8 9 0 2 5 . 8 6 0

*UNITED KINGDOM POUND 1 6 1 . 3 8 1 6 2 . 5 0 1 6 1 . 9 0 1 6 2 . 6 5 1 6 2 . 0 0

MEMO: U N I T E D STATES DOLLAR 9 9 . 9 6 9 9 . 3 5 9 9 . 7 5 9 9 . 5 8 9 9 . 8 4

SINDEX OF WEIGHTED AVERAGE EXCHANGE VALUE OF U . S . DOLLAR AGAINST CURRENCIES OF OTHER G - 1 0 COUNTRIES. MARCH 1 9 7 3 = 1 0 0 . HEIGHTS ARE 1 9 7 2 - 7 6 GLOBAL TRADE OF EACH OF THE 1 0 COUNTRIES. S E R I E S REVISED AS OF AUGUST 1 9 7 8 . FOR DESCRIPTION AND BACK DATA, SEE "INDEX OF THE WEIGHTED-AVERAGE EXCHANGE VALUE OF THE U . S . DOLLAR: R E V I S I O N " ON PAGE 7 0 0 OF THE AUGUST 1 9 7 8 FEDERAL RESERVE BULLETIN.

JULY 2 1 , 1 9 8 9

*VALUE I S U . S . CENTS

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis