Selected Interest & Exchange Rates Weekly Series of Charts

jr~yy o (516/517) fixt U at : 1 Selected Interest & Exchange Rates Weekly Series of Charts January 3, 1984 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. 3MONTH 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. 3MONTH INTEREST RATES 6. EURODOLLAR DEPOSIT RATES 7. SELECTED EURODOLLAR AND U.S. MONEY MARKET RATES 8. INTEREST ARBITRAGE: 3MONTH FUNDS 9. LONGTERM 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=100 160 FOREIGN CURRENCY PRICE OF U.S. DOLLAR JAPANESE YEN 140 120 100 80 240 CANADIAN DOLLAR SWISS FRANC / XV X/~ Z Vy 200 v / ' " ^ 160 120 180 160 GERMAN MARK DUTCH GUILDER 140 120 100 120 100 U.K. POUND FRENCH FRANC 80 60 50 45 80 BELGIAN FRANC 70 V\ ITALIAN LIRA : 60 50 40 " l 1 1 1 30 1981 1983 1981 1983

CHART 2 3MONTH FORWARD EXCHANGE RATES PREMIUM (+) OR () AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER ANNUM 6 PERCENT PER ANNUM 24 A A CANADIAN DOLLAR ITALIAN LIRA DUTCH GUILDER U. K. POUND GERMAN MARK SWISS FRANC FRENCH FRANC JAPANESE YEN 1981 1983 1981 1983

CHART 3 PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY PER FINE OUNCE U.S. DOLLARS PER FINE OUNCE 800 750 700 650 600 12.5 Kg BARS AFTERNOON FIXING PRICE 550 500 450 400 350 300 250 1980 1981 1982 1983

CHART 4 CALL MONEY RATES WEEKLY SERIES 28 JT PER ANNUM PERCENT PER ANI 24 FRANCE 20 U. S. FEDERAL FUNDS 16 12 8 JAPAN 4 24 CANADA 20 16 EUROSWISS FRANC 12 8 NETHERLANDS 4 + 0 24 20 16 12 8 U. K. 2DAY LOCAL AUTHORITY GERMANY I Jr "X EURODM 4 i i i I I I I I I I I I I I I I I 1981 1983 1981 1983

CHART 5 3MONTH INTEREST RATES WEEKLY SERIES PERCENT PER ANNUM 22 PERCENT PER ANNUM 24 U.S. CD'S WEIGHTED AVERAGE FOREIGN RATE CANADIAN FINANCE CO. PAPER U.K. INTERBANK STERLING GERMAN INTERBANK RATE JAPANESE BANK LOANS AND DISCOUNTS SWISS INTERBANK RATE 1981 1983 1981 1983

CHART 6 EURODOLLAR DEPOSIT RATES AVERAGES FOR WEEK ENDING WEDNESDAY LONDON PERC 24 R PER ANNUM PERCENT PER ANNL 20 16 12 OVERNIGHT 3MONTH 8 4 24 20 16 12 8 4 2A 1MONTH 1981 1983 1981 1983

CHART 7 SELECTED EURODOLLAR AND U. S. MONEY MARKET RATES DIFFERENTIAL: PLUSM, FAVORS BORROWING IN U. S. AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER ANNUM 26 PERCENT PER ANNUM 26 FEDERAL FUNDS 3MONTH EURODOLLAR DEPOSITS OVERNIGHT EURODOLLAR DEPOSITS DAY CD I I I I I I I I I 3 3 2 1 + 0 1 2 3 4 i H i l/r IwV I I I 1 V v / V V W ^ r v J DIFFERENTIAL 1 1 M 111111111 1 1 1 1 1 1 II 1 1 1 1981 1983 b/x^\/\vk DIFFERENTIAL 1 1 1 1 1 1 I I I I I I I I I I I i i I i i I i i I i i 1981 1983 2 1 + 0 1 2 3 4 1 PERCENT ON DIFFERENTIAL SCALE = 2 PERCENT ON RATE SCALE

CHART 8 INTEREST ARBITRAGE: 3MONTH FUNDS DIFFERENTIAL: PLUS(+), INDICATES FAVOR DOLLAR ASSETS AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER ANNUM 28 PERCENT PER ANNUM 28 EURODOLLAR DEPOSITS DASHED LINE CANADIAN FINANCE CO. PAPER, COVERED INTERBANK STERLING COVERED LONDON COMMERCIAL PAPER r DIFFERENTIAL m i I M I /v^ DIFFERENTIAL fy x Ww v^ H " i l l i i i I I I I ill I I I I niiiiiiiii INTERBANK DM COVERED FRANKFURT SWISS INTERBANK (SF) COVERED EURODOLLAR DEPOSITS ] VVW DASHED LINE VUX/,TX// V/V wv V7 EURODOLLAR DEPOSITS DASHED LINE DIFFERENTIAL DIFFERENTIAL ". A L w b w f i i i u i i 1981 11lllllll11 1983 " l l l l l l l.. 1981 iihihiln 1983 1 PERCENT ON DIFFERENTIAL SCALE = 2 PERCENT ON RATE SCALE

CHART 9 LONGTERM GOVERNMENT BOND YIELDS WEEKLY SERIES PE 19 ENT PER ANNUM PERCENT PER Al 19 UNITED STATES CANADA.J 15 w y 15 11 11 7 15 I I I 7 9 SWITZERLAND 11 UNITED KINGDOM 5 7 13 MONTHLY I I I 1 13 JAPAN 9 / \ X" GERMANY v/x 9 5 22 U. S. CORPORATE MONTHLY I I I " 5 22 18 Aaa BONDS FRANCE 18 14 14 / f ' EURODOLLAR BONDS 10 NETHERLANDS 10 MONTHLY 6 1981 1983 1981 1983 6

CHART 10 INDUSTRIAL STOCK INDICES WEEKLY SERES RATIO SCALE 1969=100 RATIO SCALE 1969=100 200 UNITED STATES jj JAPAN /A/L 180 d 160 140, 120 Y i i I I I I I I 100 180 180 160 160 140 UNITED KINGDOM If 120 GERMANY I 140 120 100 100 80 I I I I I I I I I I I I I I I I I I,, I I I I I I ill 11 h ill i 80 170 170 150 150 130 FRANCE // SWITZERLAND 130 110 y 110 90 90 70 160 I I I I I I,, I I I I I! iiiiiiiiiii I I I I I I 320 70 140 280 120 NETHERLANDS / CANADA Fv* V 240 100 ' /v 200 80 160 60 I I I II I I I I! I iihiiniii 1981 1983 i i i!! 1 11111111111 Nil! Illll 1 120 1981 1983

SERIES NAME LAST VALUE PLOTTED DATE VALUE CHART 1. SPOT EXCHANGE BATES AND INDICES WEEKLY AVERAGES, NOON BUYING BATES (U.S. CENTS) GERMAN BARK JAN. 4 36.36 JAPANESE YEN JAN. 4 0.43022 DUTCH GUILDER JAN. 4 32.38 U.K. POUND JAN. 4 143.62 CANADIAN DOLLAR JAN. 4 80.25 FRENCH FRANC JAN. 4 11.90 SWISS FRANC JAN. 4 45.39 BELGIAN FRANC JAN. 4 1.78059 ITALIAN LIRA JAN. 4 0.05987 ICES, MARCH 1973 BASE RATES = 100 GERMAN MARK JAN. 4 102.28 JAPANESE YEN JAN. 4 112.64 DUTCH GUILDER JAN. 4 92.94 U.K. POUND JAN. 4 58.09 CANADIAN DOLLAR JAN. 4 79.98 FRENCH FRANC JAN. 4 53.60 SWISS FRANC JAN. 4 146.04 BELGIAN FRANC JAN. 4 7016 ITALIAN LIRA JAN. 4 34.01 ighted AVERAGE EXCHANGE VALUE INDICES, MAR 1973 = 100 (G10 COUNTRIES PLUS SWITZERLAND) U.S. DOLLAR JAN. 4 132.78 GERMAN MARK JAN. 4 134.17 JAPANESE YEN JAN. 4 146.70 DUTCH GUILDER JAN. 4 117.40 U.K. POUND JAN. 4 70.24 CANADIAN DOLLAR JAN. 4 99.98 FRENCH FRANC JAN. 4 63.99 SWISS FRANC JAN. 4 185.74 BELGIAN FRANC JAN.. 4 87.10 ITALIAN LIRA JAN. 4 39.82 SWEDISH KROUA JAN. 4 67.75 # ART 2!, 3MONTH FORWARD EXCHANGE RATES, PREMIUM OR DISCOUNT CANADIAN DOLLAR JAN. 4 0.29 U.K. POUND JAN. 4 0.71 GERMAN MARK JAN. 4 4.01 FRENCH FRANC JAN. 4 3.44 SWISS FRANC JAN. 4 6.06 DUTCH GUILDER JAN. 4 3.91 JAPANESE YEN JAN. 4 3.55 ITALIAN LIRA JAN. 4 6.72

SERIES NAME LAST VALUE PLOTTED DATE VALUE CHART 3. GOLD PRICE IN LONDON, AFTERNOON FIXING U.S. DOLLARS PER FINE OUNCE JAN. 4 380.22 CHART 4. CALL MONET RATES U.S. FEDERAL FUNDS JAN. 4 10.,06 OVERNIGHT EURODOLLAR DEPOSITS JAN. 4 9. 98 U. K. DEC. 30 9,, 13 CANADA DEC. 9 9. 55 GERMANY DEC. 30 7 m 00 EURODM JAN. 6 6.,34 JAPAN DEC. 30 6.,44 FRANCE DEC. 30 12. 88 NETHERLANDS JAN. 1 10.,30 EUROSWISS FRANC JAN. 6 4.,56 CHART 5. 3MONTH INTEREST BATES U.S. 90DAY CD'S, SECONDARY MARKET JAN. 4 9.64 GERMAN INTERBANK LOAN JAN. 4 6. 14 JAPANESE EANK LOANS 6 DISCOUNTS JAN. 4 6.25 CANADIAN FINANCE PAPER JAN. 4 9.82 INTERBANK STERLING JAN. 4 9.33 SWISS INTERBANK LOAN JAM. 4 3.81 WEIGHTED AVERAGE FOREIGN INTEREST RATE JAN. 4 8.50 (G10 COUNTRIES PLUS SWITZERLAND) CHART 6. EURODOLLAR DEPOSIT RATES: LONDON OVERNIGHT JAN. 4 9.98 7DAY JAN. 4 9.66 1MONTH JAN. 4 9.69 3MONTH JAN. 4 9.88 6MONTH JAN. 4 10.13 1YEAR JAN. 4 10.42 CHART 7. SELECTED EURODOLLAR AND U.S. MONEY MARKET RATES OVERNIGHT EURODOLLAR DEPOSITS JAN. 4 9.98 U.S. FEDERAL FUNDS JAN. 4 10.06 DIFFERENTIAL ADJ. FOR RESERVE REQUIREMENTS JAN. 4 0.08 3MONTH EURODOLLAR DEPOSIT RATE JAN. 4 9.88 U.S. 90DAY CD'S, SECONDARY MARKET JAN. 4 9.64 DIFFERENTIAL JAN. 4 0.24

SERIES NAME LAST VALUE PLOTTED DATE VA1UB CHART 8. INTEREST ARBITRAGE, JMONTH FUNDS EURODOLLAR DEPOSIT JAN. 4 9.,88 INTERBANK STERLING (LONDON), COVERED JAN. 4 10.,06 DIFFERENTIAL JAN. 4 0,,18 U.S. COMMERCIAL PAPER JAN. 4 9.,47 CANADIAN FINANCE PAPER, COVERED JAN. 4 10. 12 DIFFERENTIAL JAN. 4 0 U 65 EURODOLLAR DEPOSIT JAN. 4 9. 88 INTERBANK DM (FRANKFURT), COVERED JAN. 4 10. 21 DIFFERENTIAL JAN. 4 0. 33 EURODOLLAR DEPOSIT JAN. 4 9..88 SWISS INTERBANK, COVERED JAN. 4 9. 93 DIFFERENTIAL JAN. 4 0. 06 CHART 9. LONG TERM GOVERMENT BOND YIELDS UNITED STATES DEC. 30 11.79 GERMANY DEC. 16 8.36 JAPAN (MONTHLY) OCT. 7.22 SWITZERLAND DEC. 9 4.56 CANADA DEC. 9 12.00 FRANCE SEPT. 30 14.05 NETHERLANDS (MONTHLY) AUG. 9.03 UNITED KINGDOM DEC. 30 9.77 U.S. CORPORATE AAA BONDS NOV, 12.41 EURODOLLAR BONDS SEPT. 10.23 CHART 10. STOCK INDICES UNITED STATES DEC. 28 172. 64 UNITED KINGDOM DEC. 28 170.,52 CANADA DEC. 28 251. 82 GERMANY DEC. 28 151.,21 SWITZERLAND DEC. 28 128.,85 NETHERLANDS DEC. 28 153.,37 FRANCE DEC. 28 156. 47 JAPAN DEC. 28 194.,04

FEDERAL RESERVE statistical release ' o? CQ% # fl. 10(512) FOREIGN EXCHANGE RATES JABUABY 5, 1984 FOB THE 1EEK BBDIBG DECEASES 30, 1983 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: MOBETABI CURRENCY OBITS PEB DOLLAB) COUBTRY UNIT DEC. 26 DEC. 27 DEC. 28 DEC. 29 DEC. 30 ARGENTINA PESO 19.85 19.85 19.85 19.85 AUSTRALIA DOLLAB 90.00 89.88 89.65 89.65 A0STBIA SCHILLING 19.465 19.402 19.247 19.190 BELGIUM FRANC 56.230 56.170 55.750 55.710 BBAZIL CRUZEIRO 955.00 971.00 984.00 984.00 CANADA DOLLAR 1.2451 1.2461 1.2450 1.2445 CBILE PESO 87.700 87.700 87.700 87.700 CHINA, P, B. Y9AB 1.9939 1.9939 1.9859 1.9859 COLOMBIA PESO 88.460 88.480 88.480 88.870 DEBBABK KRONE 9.9875 9.9750 9.8850 9.8800 FINLAND MABKKA 5.8660 5.8610 5.8280 5.8180 FBAHCE FRANC 8.4350 8.4165 8.3400 8.3350 GERMANY D, MASK H 2.7558 2.7515 2.7285 2.7250 GBEECE DSACHMA 99.450 99.300 99.000 98.950 HONG KONG DOLLAB 7.7950 7.7810 7.7830 7.7805 INDIA BUPEE O 10.5700 10.5200 10.5100 10.4900 INDONESIA BUPIAH *96.00 996.00 996.00 996.00 IRELAND POUND 112.30 112.80 113.40 113.65 ISBAEL SHEKEL L 103.260 103.260 105.120 108.310 ITALY LIRA 1673.50 1673.00 1662.50 1656.00 JAPAN YES 233.80 233.40 232.20 231.70 MALAYSIA DOLLAR I 2.3400 2.3395 2.3385 2.3350 MEXICO PESO 166.0000 168.0000 170.5000 169.0000 NETBEELANDS GUILDER 3.0960 3.0950 3.0665 3.0620 NEB ZEALAND DOLLAB D 65.000 65.100. 65.270 65.450 NOBBAY KBONB 7.7725 7.7550 7.7150 7.7100 PEBU SOL 2239.14 2239.14 2239.14 2276.83 PHILIPPINES PESO A 14.0500 14.0500 14.0500 14.0500 POBTOGAL ESCUDO 132.700 133.450 133.450 i 133.100 ' SIBGAPOBE DOLLAB 21350 2.1280 2.1265 2.1220 SOUTH AFBICA BAND Y 81.85 82.00 82.00 81.80 SOUTH KOREA BOB 800.15 800.15 800.15 800.15 SPAIN PESETA 158.150 157.850 ' 157.730 156.800 ' SRI LANKA BUPEE 25.020 25.020 25.020 25.020 SWEDEN KBOBA 8.0700 8.0520 8.0130 8.0100 S8XTZERLAND FBABC 2.1900 2.1890 2.1840 2.1790 TAIWAN DOLLAB 40.200 40.200 40.200 40.200 THAILAND BAHT 22.990 22.990 22.990 23.040 UNITED KINGDOM POUND 143.20 143.60 144.75 145.15 ^ VENEZUELA BOLIYAB 12.5000 12.7000 12.7000 12.7500 BEMO: iubited STATES DOLLAR 133.07 132,90 132,00 131,79 4INDEX or WEIGHTED AVERAGE EXCHANGE VALUE Of U.S. DOLLAR AGAINST CORBE8CIES OP OTHER G10 CC0HTBIES PLCS SWITZERLAND. HABCH 1973 = 100. WEIGHTS IRE 197276 GLOBAL MADE OP EACH OP THE 10 COUNTRIES. SERIES REVISED AS OF AUGflST 1978. FOR DESCRIPTION AND BACK DATA, SEE "INDEI OP THE WEIGHTEDAVERAGE EXCHANGE VALUE OP THE U.S. DOLLAR:.REVISION" ON PAGE 700 OF THE AOGUST 1978 FEDERAL RESERVE BULLETIN. VALUE IS U.S. CENTS