h13_19810504.pdf

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^SEARCf i^

Selected Exchange Rates XAfeekly Series of Charts

/

May 4,1981

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.


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

RATIO SCALE MARCH 1973=100

- -

V - A w " A :

— FOREIGN CURRENCY -

PRICE OF U.S. DOLLAR

I I

120 — U.K. POUND —

— — 100

-

- 80

—

I I I I I I I I I I I 111 I l l l l l l l l l l 60

GERMAN MARK

-FRENCH FRANC

- 120

— / . — 100

x V \ -

" I I I I I I I l l l l l l l l l l 80

CANADIAN DOLLAR

160

140 a / I —

X JAPANESE YEN ,

120 — J

100 -

s a " i l l I I I I l l l l l l l l l l i l l l l l l l l l l

160

140 AJ zyv _ A y v /

120 X \ — DUTCH GUILDER

100 I l l l l l l l l l l 7

SWISS FRANC

240

- 200

1979 1981

BELGIAN FRANC

-WX. -

~ m i I l l l l l l l l l l

- ITALIAN LIRA -

r ~ - — I

I ' l l I I I I l l l l l l l l l l

1979 1981

100

100

80

60

40


6

+ 0

6

6

+ 0

6

12

12

6

+ 0

12

6

+ 0

6

4UW 24

+ 0

24

12

6

+ 0

6

18

12

6

0

12

6

+ 0

5

CHART 2

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


:ENT PER ANNUM PERCENT PER At

CANADIAN DOLLAR

U. K. POUND

GERMAN MARK

FRENCH FRANC

— ITALIAN LIRA

-

i i i I I I v X

DUTCH GUILDER

I I Li ; L !

SWISS FRANC

JAPANESE YEN

1979 1981 1979 1981


U.S. D

800

750

700

650

600

550

500

450

400

350

300

250

200

150

100

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

LLARS PER FINE OUNCE U.S. DOLLARS PER FINE I

12.5 Kg BARS-AFTERNOON FIXING PRICE

i I I I I I I I I l I I I I I I I I I I I M

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 " / V

CALL MONEY RATES t i " WEEKLY SERIES

:NT PER ANNUM PERCENT PER AH

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

EURO-SWISS FRANC CANADA

NETHERLANDS

FRANCE

GERMANY

JAPAN

EURO-DM

I I I I I I I I I I I

1979 1981 1979 1981


20

16

12

8

4

22

18

1 4

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 SERES

[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

JAPANESE BANK LOANS AND DISCOUNTS

1 9 7 9 1 9 8 1

-

SWISS INTERBANK RATE

IV -

V / l H - , J I I I I I I I I I I I I I. 11111111111 1979 1981


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

EURODOLLAR DEPOSIT RATES LONDON AVERAGES FOR WEEK ENDING WEDNESDAY

PER ANNUM PERCENT PER

3-MONTH OVERNIGHT

MONTH 7-DAY

1-MONTH

1979 1981

1-YEAR

1979 1 9 8 1


^ *

PERCENT PER ANNUM

1 -

3 -

CHART 7

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


26

22 - -

18 -FEDERAL FUNDS l\ /

' n / I h

(M V 14 — ih M i — j

I r i J

—

10 - nJ r i J —

-OVERNIGHT T

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

6 I I M l I I I I I I I I I I I I I I I I I

PERCENT PER ANNUM

26

22

90-DAY CD S

3-MONTH /; ,i E U R O - D O L L A R DEPOSITS II »!

DIFFERENTIAL

1 1 1 1 1 1 1 1 1 1 1 1 1 1 1

DIFFERENTIAL


- 1 8

14

- 1 0

6

3

i i I i i I n ! i i

1979

1 PERCENT ON DIFFERENTIAL SCALE = 2 PERCENT ON RATE SCALE

1981 1979 1981


CHART i

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


PERCENT PER ANNUM

28

20

12

EURO-DOLLAR DEPOSITS

INTERBANK STERLING COVERED LONDON

I I I I I I I I

PERCENT PER ANNUM

28

CANADIAN FINANCE CO. PAPER, COVERED

U. S. COMMERCIAL PAPER

- 20

- N N J L

DIFFERENTIAL

—

" I I I

12

— DIFFERENTIAL

A ^ V A / V A V \ !Y- "


INTERBANK DM COVERED FRANKFURT

SWISS INTERBANK (SF) COVERED

EURO-DOLLAR DEPOSITS EURO-DOLLAR DEPOSITS

DIFFERENTIAL DIFFERENTIAL

1 9 7 9 1 9 8 1 1 9 7 9 1 9 8 1

1 PERCENT ON DIFFERENTIAL SCALE = 2 PERCENT ON RATE SCALE


15

13

11

9

7

12

10

8

6

4

16

14

12

10

8

6

14

12

10

8

6

NUM

15

13

11

9

7

9

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

CANADA

SWITZERLAND

GERMANY

FRANCE

UNITED KINGDOM

NETHERLANDS

U. S. CORPORATE MONTHLY MONTHLY

JAPAN Aaa BONDS

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

1979 1981 1979 1981


CHART 10

INDUSTRIAL STOCK INDICES WEEKLY SERIES

RATIO SCALE 1969=100

RATIO SCALE 1969=<00

UNITED STATES

FRANCE G E N E R A L I N D E X

SWITZERLAND JAPAN

UNITED KINGDOM GERMANY

1 9 7 9 1 9 8 1 1 9 7 9 1 9 8 1


SERIES NAME LAST VALUE PLOTTED

DATE VALUE

CHART 1. SPOT EXCHANGE RATES AND INDICES

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

GERMAN MARK APRIL 29 JAPANESE YEN APRIL 29 DUTCH GUILDER APRIL 29 U.K. POUND APRIL 29 CANADIAN DOLLAR APRIL 29 FRENCH FRANC APRIL 29 SWISS FRANC APRIL 29 BELGIAN FRANC APRIL 29 ITALIAN LIRA APRIL 29

INDICES, MARCH 1973 BASE RATES = 100

GERMAN MARK APRIL 29 JAPANESE YEN APRIL 29 DUTCH GUILDER APRIL 29 U.K. POUND APRIL 29 CANADIAN DOLLAR APRIL 29 FRENCH FRANC APRIL 29 SWISS FRANC APRIL 29 BELGIAN FRANC APRIL 29 ITALIAN LIRA APRIL 29

45 0

41 216 83 19 50

2 0

73 ,46792 ,13 07 ,71 ,30 ,18 ,80813 ,09176

128.65 122.52 118.08 87.39 83.43 86.95 161.43 110.65 52.13

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

APRIL 29 APRIL 29 APRIL 29 APRIL 29 APRIL 29 APRIL 29 APRIL 29 APRIL 29 APRIL 29 APRIL 29 APRIL 29

99.54 134.58 124.89 118.98 85.83 81.95 85.21 163.05 110.83 49. 40 93.00

CHART 2. 3-MONTH FORWARD EXCHANGE RATES, PREMIUM OR DISCOUNT

CANADIAN DOLLAR APRIL 29 -1.06 U.K. POUND APRIL 29 4.11 GERMAN MARK APRIL 29 4.13 FRENCH FRANC APRIL 29 2.79 SWISS FRANC APRIL 29 6.80 DUTCH GUILDER APRIL 29 5.60 JAPANESE YEN APRIL 29 9.09 ITALIAN LIRA APRIL 29 -2.86



DATE VALUE

CHART 3. GOLD PBICE IN LONDON, AFTERNOON FIXING

U.S. DOLLARS PER FINE OUNCE APRIL 29 485.20

CHART 4. CALL MONEY RATES

U.S. FEDERAL FUNDS OVESNIGHT EURO-DOLLAR DEPOSITS U.K. 2-DAY LOCAL AUTHORITY DEPOSITS CANADA GERMANY EURO-DM JAPAN FRANCE NETHERLANDS EURO-SWISS FRANC

APRIL 29 APRIL 29 APRIL 24 APRIL 3 APRIL 24 APRIL 10 APBIL 24 APRIL 24 APRIL 3 APRIL 10

16.28 15.97 12.00 16.53 9.50

11.45 7.13

12.25 9.05 6.73

CHART 5. 3-MONTH INTEREST RATES

U.S. 90-DAY CD'S, SECONDARY MARKET GERMAN INTERBANK LOAN JAPANESE BANK LOANS 8 DISCOUNTS CANADIAN FINANCE PAPER INTERBANK STERLING SWISS INTERBANK LOAN WEIGHTED AVERAGE FOREIGN INTEREST RATE

(G-10 COUNTRIES PLUS SWITZERLAND)

APRIL APRIL APRIL APRIL APRIL APRIL APRIL

29 2 9 29 29 29 29 29

15 .48 12.91

7. 19 17 .65 12.35

9 .30 12.55

CHART 6. EURO-DOLLAR DEPOSIT RATES: LONDON

OVERNIGHT 7-DAY 1-MONTH 3-MONTH 6-MONTH 1-YEAR

APRIL 29 APRIL 29 APRIL 29 APRIL 29 APRIL 29 APRIL 29

1 5. 97 15.77 16.19 16.38 16.38 15. 68

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

OVERNIGHT EURO-DOLLAR DEPOSITS APRIL 29 15.97 U.S. FEDERAL FUNDS APRIL 29 16.28 DIFFERENTIAL ADJ. FOR RESERVE REQUIREMENTS APRIL 29 -0.31

3-MONTH EURO-DOLLAR DEPOSIT RATE APRIL 29 16.38 U.S. 90-DAY CD'S, SECONDARY MARKET APRIL 29 15.48 DIFFERENTIAL APRIL 29 0.90



DATE VALUE

CHART 8. INTEREST ARBITRAGE, 3-MONTH FUNDS

EURO-DOLLAR DEPOSIT APRIL 29 16. 38 INTERBANK STERLING (LONDON), COVERED APRIL 29 16. 59 DIFFERENTIAL APRIL 29 -0. 21

U.S. COMMERCIAL PAPER APRIL 29 14,. 92 CANADIAN FINANCE PAPER, COVERED APRIL 29 16. 54 DIFFERENTIAL APRIL 29 -1. 62

EURO-DOLLAR DEPOSIT APRIL 29 16. 38 INTERBANK DM (FRANKFURT), COVERED APRIL 29 17. 17 DIFFERENTIAL APRIL 29 -0. 80

EURO-DOLLAR DEPOSIT APRIL 29 16. 38 SWISS INTERBANK, COVERED APRIL 29 16. 26 DIFFERENTIAL APRIL 29 0. 11

CHART 9. LONG TERM GOVERMENT BOND YIELDS

UNITED STATES APRIL 24 13.78 GERMANY APRIL 24 10.23 JAPAN (MONTHLY) MARCH 8.29 SWITZERLAND APRIL 17 5.44 CANADA APRIL 3 13.42 FRANCE MARCH 13 15.09 NETHERLANDS APRIL 3 10.66 UNITED KINGDOM APRIL 17 11.44

I. CORPORATE

AAA BONDS MARCH 13.33 EURO-DM BONDS DEC. 6.63 EURO-DOLLAR BONDS FEB. 12.17

CHART 10. INDUSTRIAL STOCK INDICES

UNITED STATES APRIL 17 142.37 JAPAN APRIL 10 360.36

t FRANCE APRIL 3 148.80 UNITED KINGDOM APRIL 10 128.49 SWITZERLAND APRIL 10 75.59

t GERMANY APRIL 10 97.69


FEDERAL RESERVE statistical release

H. 10(512) FOREIGN EXCHANGE RATES

FOB THE WEEK ENDING MAY 1, 1981

MAY 4, 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. CENJFS

COUNTRY MONETARY

UNIT APR. 27 APR. 28 APR. 29 APR. 30 MAY 1

AUSTRALIA DOLLAR 115.4000 115.3700 115.1200 114.9200 114.8700 AUSTRIA SCHILLING 6.50195 6.45578 6.39795 6.39795 6.37755 BELGIUM FRANC 2.81770 2.80662 2.77778 2.78164 2.78862 CANADA DOLLAR 83.8013 83.6820 83.5213 83.5981 83.5911 DENMARK KRONE 14.5730 14.5033 . 14.3616 14.3565 14.3885 FINLAND MARKKA 23.9521 23.9292 23.8095 23.7925 23.7530 FRANCE FRANC 19.3461 19.3162 19.0712 19.0295 19.1022 GERMANY D. MARK 45.8400 45.7352 45.1875 45.2386 45.3927 INDIA RUPEE 12.1212 12.1065 12.0337 12.0048 11.9760 IRELAND POUND 167.4500 167.6500 165.4000 165.5000 166.2000 ITALY LIRA 0.09200 0.09183 0.09091 0.09124 0.09124 JAPAN YEN 0.47148 0.47103 0.46577 0.46343 0.46350 MALAYSIA DOLLAR 43.3745 43.2807 43.1686 43.1220 43.0293 MEXICO PESO 4.1719 4.1728 4.1719 4. 1649 4.1615 NETHERLANDS GUILDER 41.2456 41.1015 40.6669 40.7166 40.7830 NEW ZEALAND DOLLAR 90.2500 90.1000 89.8500 89.7000 89.6500 NORWAY KRONE 18.1455 18.1488 18.0424 18.0473 18.0571 PORTUGAL ESCUDO 1.7079 1.7021 1.6892 1.6821 1.6779 SOUTH AFRICA RAND 122.9700 122.9000 122.4000 122.0000 121.9100 SPAIN PESETA 1.1346 1.1291 1.1223 1.1217 1.1223 SRI LANKA RUPEE 5.4437 5.4437 5.4437 5.4437 5.4437 SWEDEN KRONA 21.1282 21.0526 21.0305 21.0526 21.0526 SWITZERLAND FRANC 50.2260 50.3271 49.4805 49.4805 49.5540 UNITED KINGDOM POUND 216.3000 215.6000 214.3000 213.9500 214.3000


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