Selected Interest & Exchange Rates

5 H H o (516/517) ^ W : MAY 2 1932 oi ^ ^ Selected Interest & Exchange Rates Weekly Series of Charts % May 17, 1982 Prepared by the FINANCIAL MARKETS SECTION DIVISION OF INTERNATIONAL FINANCE BOARD OF GOVERNORS FEDERAL RESERVE SYSTEM Washington, D C. 551

Table of Contents TABLES 1. LATEST FIGURES PLOTTED 2. DAILY CERTIFIED SPOT EXCHANGE RATES H.1 RELEASE CHARTS 1. SPOT EXCHANGE RATE INDICES 2. 3MONTH FORWARD EXCHANGE RATES 3. GOLD PRICELONDON. 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 1. INDUSTRIAL STOCK INDICES SUBSCRIPTION RATES: Weekly $15. per year or $. each in the United States, its possessions, Canada, and Mexico; 1 or more of the same issue to one address, $13.5 per year or $.35 each. Elsewhere, $. per year or $.5 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.

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=1 RATIO SCALE MARCH 1973=1 1 U.K. POUND 8 FOREIGN CURRENCY PRICE OF U.S. DOLLAR JAPANESE YEN GERMAN MARK FRENCH FRANC SWISS FRANC BELGIAN FRANC DUTCH GUILDER ITALIAN LIRA % CANADIAN DOLLAR 198 1982 198 1982

CHART 2 3MONTH FORWARD EXCHANGE RATES PREMIUM (+) OR () AVERAGES FOR WEEK ENDING WEDNESDAY 6 :ENT PER ANNUM PERCENT PER AL + 6 CANADIAN DOLLAR ITALIAN LIRA Y "V /V, iilii hili i 6 + 6 U. K. POUND DUTCH GUILDER GERMAN MARK SWISS FRANC 6 + 6 / L + "VaaaJ V 6 FRENCH FRANC r I JAPANESE YEN 1 1 1 11 i i i! 111M 198 1982 198 1982

CHART 3 PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY.LARS PER FINE OUNCE U.S. DOLLARS PER FINE OUNCE 8 75 7 65 6 55 5.5 Kg BARS AFTERNOON FIXING PRICE 5 35 3 25 15 1979 198 I I I I I I I I I I 1981 I I I I I I I 1982 1

CHART CALL MONEY RATES WEEKLY SERIES CENT PER ANNUM PERCENT PER ANNUM 28 2 U. S. FEDERAL FUNDS u. K. 2DAY LOCAL AUTHORITY ah " A J ^ 16 INN CANADA EUROSWISS FRANC NETHERLANDS FRANCE GERMANY JAPAN EURODM 198 1982 198 1982

CHART 5 3MONTH INTEREST RATES WEEKLY SERIES :NT PER ANNUM PERCENT PER Ah U.S. CD'S 16 WEIGHTED AVERAGE FOREIGN RATE U.K. INTERBANK STERLING 8 CANADIAN FINANCE CO. PAPER GERMAN INTERBANK RATE 16 8 JAPANESE BANK LOANS AND DISCOUNTS 8 SWISS INTERBANK RATE 198 1982 198 1982

CHART 6 EURODOLLAR DEPOSIT RATES LONOON AVERAGES FOR WEEK ENDING WEDNESDAY 2 ENT PER ANNUM PERCENT PER AL 16 8 OVERNIGHT 3MONTH 2 16 8 7DAY 6MONTH 2 16 8 1MONTH 1YEAR 198 1982 198 1982

CHART 7 SELECTED EURODOLLAR AND U. S. MONEY MARKET RATES DIFFERENTIAL: PLUS(+), FAVORS BORROWING IN U. S. AVERAGES FOR WEEK ENDING WEDNESDAY PER 26 ^T PER ANNUM PERCENT PER ANNUM 26 22 3MONTH EURODOLLAR DEPOSITS FEDERAL FUNDS 18 1 1 OVERNIGHT EURODOLLAR DEPOSITS 9DAY CD S 6 3 I I I I I I! I I I 2 1 + 1 2 DEFERENTIAL DFFEPENTIAL 3 198 PERCENT ON DIFFERENTIAL SCALE = 2 PERCENT ON RATE SCALE I I I I I I I I 1982 196 1962 I

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 S. COMMERCIAL PAPER 2 2 DIFFERENTIAL DIFFERENTIAL + 2 28 28 INTERBANK DM COVERED FRANKFURT SWISS INTERBANK (SF) COVERED EURODOLLAR DEPOSITS DASHED LINE EURODOLLAR DEPOSITS DASHED LINE 2 DIFFERENTIAL DIFFERENTIAL 2 + 2 198 1982

CHART 9 LONGTERM GOVERNMENT BOND YIELDS WEEKLY SERIES PERCENT PER ANNUM 19 U. S. CORPORATE MONTHLY PERCENT PER ANNUM 19 15 UNITED STATES Ma A## BONDS 15 11 11 EURODOLLAR BONDS I I I 15 9 11 XAA A HK \J UNITED KINGDOM V SWITZERLAND 5 7 ~ MlMh.lM 1 13 MONTHLY JAPAN GERMANY 18 CANADA. i FRANCE 18 1 1 1 1 '# I I I NETHERLANDS 198 1982 198 1982

CHART 1 INDUSTRIAL STOCK INDICES WEEKLY SERES RATIO 1969= 18 16 1 1 UNITED STATES JAPAN 8 1 SWITZERLAND 1 8 UNITED KINGDOM lull! 1 FRANCE GERMANY 1 Xx v vx A yva. AAX r 8 I I I 1 1 NETHERLANDS CANADA 8 6 198 1982 198 1982

SERIES NAME LAST VALOE PLOTTED DATE VALUE ART 1. SPOT EXCHANGE RATES AND INDICES WEEKLY AVERAGES, NOON BUYING RATES (U.S. CENTS) GERMAN MARK MAY 3.67 JAPANESE YEN MAY.2866 DUTCH GUILDER MAY 39.26 U.K. POUND MAY 183.6 CANADIAN DOLLAR MAY 81.1 FRENCH FRANC MAY 16.7 SWISS FRANC MAY 52.f9 BELGIAN FRANC MAY 2.3126 ITALIAN LIRA MAY.7856 INDICES, MARCH 1973 BASE RATES = 1 GERMAN MARK MAY 2.6 JAPANESE YEN MAY 1.2 DUTCH GUILDER MAY 1.71 U.K. POUND MAY 7. CANADIAN DOLLAR MAY 81.1 FRENCH FRANC MAY 75.2 SWISS FRANC MAY 168.55 BELGIAN FRANC MAY 91. ITALIAN LIRA MAY.63 WEIGHTED AVERAGE EXCHANGE VALUE INDICES, MAR 1973 = 1 (G1 COUNTRIES PLUS SWITZERLAND) U.S. DOLLAR MAY 19.92 GERMAN MARK MAY 139.81 JAPANESE YEN MAY 3.69 DUTCH GUILDER MAY 3.6 U.K. POUND MAY 77.91 CANADIAN DOLLAR MAY 86.5 FRENCH FRANC MAY 79.33 SWISS FRANC MAY 18.72 BELGIAN FRANC MAY 97.97 ITALIAN LIRA MAY 5.5 SWEDISH KRONA MAY 82.6 ^:Hi&T 2. 3MONTH FORWARD EXCHANGE RATES, PREMIUM OR DISCOUNT CANADIAN DOLLAR MAY.88 U.K. POUND MAY 1.,6 GERMAN MARK MAY 5. 91 FRENCH FRANC MAY 7.36 SWISS FRANC MAY 1.9 DUTCH GUILDER MAY 5..95 JAPANESE YEN MAY 7.,56 ITALIAN LIRA MAY 9. 3

LAST VALUE PLOTTED SERIES NAME DATE VALUE 3. GOLD PRICE IN LONDON, AFTERNOON FIXING e U.S. DOLLARS PER FINE OUNCE MAY 332.. CALL MONEY RATES U.S. FEDERAL FUNDS MAY 1' 1.97 OVERNIGHT EURODOLLAR DEPOSITS MAY 15. U.K. 2DAY LOCAL AUTHORITY DEPOSITS MAY 7.5 CANADA MAY 7 13.55 GERMANY MAY 7 9. EURODM APRIL 3 8.98 e JAPAN MAY 7 7.6 FRANCE MAY 7 16.5 NETHERLANDS JAN. 1 1.3 EUROSWISS FRANC APRIL 3 3.8 # 5. 3MONTH INTEREST RATES e U.S. 9DAY CD'S, SECONDARY MARKET MAY 13.82 GERMAN INTERBANK LOAN MAY 9.13 JAPANESE BANK LOANS & DISCOUNTS MAY 7.16 CANADIAN FINANCE PAPER MAY 15.31 e INTERBANK STERLING MAY 13.1 SWISS INTERBANK LOAN MAY 3.7 WEIGHTED AVERAGE FOREIGN INTEREST RATE MAY 11.7 (G1 COUNTRIES PLOS SWITZERLAND) CHART 6. EURODOLLAR DEPOSIT RATES: LONDON OVERNIGHT MAY 15. 7DAY MAY 1.97 1MONTH MAY 1.73 3MONTH MAY 1.3 6MONTH MAY 1.33 1YEAR MAY 1.13 CHART 7. SELECTED EURODOLLAR AND U.S. MONEY MARKET BATES OVERNIGHT EURODOLLAR DEPOSITS MAY 15. U.S. FEDERAL FUNDS MAY 1.97 DIFFERENTIAL ADJ. FOR RESERVE REQUIREMENTS MAY.23 3MONTH EURODOLLAR DEPOSIT RATE MAY 1.3 U.S. 9DAY CD'S, SECONDARY MARKET MAY 13.82 DIFFERENTIAL MAY.61

LAST VALUE PLOTTED SERIES NAME DATE VALUE CHART 8. INTEREST ARBITRAGE, 3MCNTH FUNDS EURODOLLAR DEPOSIT MAY 1. 3 INTERBANK STERLING (LONDON), COVERED MAY 1.,75 DIFFERENTIAL MAY.,32 U.S. COMMERCIAL PAPER MAY 13. 51 CANADIAN FINANCE PAPER, COVERED MAY 1.,39 DIFFERENTIAL MAY.,88 EURODOLLAR DEPOSIT MAY 1.3 INTERBANK DM (FRANKFURT), COVERED MAY 15.,17 DIFFERENTIAL MAY., 75 EURODOLLAR DEPOSIT MAY 1..3 SWISS INTERBANK, COVERED MAY 1..7 DIFFERENTIAL MAY..27 CHART 9. LONG TERM GOVERMENT BOND YIELDS UNITED STATES MAY 7 13. 73 GERMANY APRIL 23 8.,82 JAPAN (MONTHLY) MARCH 7.,56 SWITZERLAND APRIL 23 5.,5 CANADA MAY 7 1.,75 FRANCE MARCH 19 16..33 NETHERLANDS JAN. 1 11., UNITED KINGDOM MAY 7.,1 U.S. CORPORATE AAA BONDS APRIL 1.6 EURODOLLAR BONDS MARCH.96 CHART 1. STOCK INDICES UNITED STATES MAY 5.96 UNITED KINGDOM MAY 5 6.5 CANADA MAY 5 151.19 GERMANY MAY 5 1.3 SWITZERLAND MAY 5 85.32 NETHERLANDS MAY 5 87. FRANCE MAY 5 11.89 JAPAN MAY 5 16.27

FEDERAL RESERVE statistical release H.1(5) FOREIGN EXCHANGE RATES FOR THE WEEK ENDING tlai 1, 1982 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 followinfgnoon buying rate in New York City for cable transfers payable in foreign currencies: MAY 1, 1982 COUNTRY ARGENTINA AUSTRALIA AUSTRIA BELGIUM BRAZIL CANADA CHILE CHINA, P.R. COLOMBIA DENMARK FINLAND FRANCE GERMANY GREECE HONG KONG INDIA INDONESIA IRAN IRELAND ISRAEL ITALY JAPAN MALAYSIA MEXICO NETHERLANDS NEW ZEALAND NORWAY PERU PHILIPPINES PORTUGAL SINGAPORE SOUTH AFRICA SOUTH KOREA SPAIN SRI LANKA SWEDEN SWITZERLAND THAILAND UNITED KINGDOM VENEZUELA MONETARY UNIT MAY 1 PESO DOLLAR SCHILLING FRANC CRUZEIRO DOLLAR PESO YUAN PESO KRONE MARKKA FRANC D. MARK DRACHMA DOLLAR RUPEE RUPIAH RIAL POUND SHEKEL LIRA YEN DOLLAR PESO GUILDER DOLLAR KRONE SOL PESO ESCUDO DOLLAR RAND WON PESETA RUPEE KRONA FRANC BAHT POUND BOLIVAR 15. 16.6 16.11 3.2 155.61 1.225 39.85 1.7986 62. 7.75.61 5.959 2.286 62.15 5.771 9.2 653.5 NA 151.3.81 72. 233.3 2.28 6.65 2.555 77.7 5.9 618.8 8.5 69.9 2.81 95.1 721.95 12.5.5 5.735 1.8985 23. 183.6.2995 CURRENCY UNITS PER DOLLAR) MAY 11 MAY MAY 13 MAY 1ft 15. 16.63 16.5 3.1 155.61 1.2323 39.85 1.7986 62. 7.75.65 5.959 2.28 62.5 5.765 9.2 653.5 NA 151.5.88 68. 232.85 2.286 6.68 2.5 77.55 5.95 618.8 8.5 7.5 2.83 95.5 721.95 11.73.5 5.735 1.911 23. 183.3.2995 15. 16.5 16.6 3.9 155.61 1.2396 39.85 1.7986 62. 7.728.5 5.955 2.283 61.85 5.757 9.21 653.5 NA 151.75.86 66. 233.8 2.28 6.7 2.5385 77.65 5.91 618.8 8.5 69.6 2.81 9.98 721.95 11.58.5 5.73 1.928 23. 183.7.2995 15. 16.18 16.16 3.36 158.36 1.2388 39.85 1.7986 62. 7.78.75 5.99 2.293 62.35 5.767 9.26 653.5 NA 15.7.95 76. 235. 2.296 6.77 2.5515 77.35 5.9 618.8 8.5 7.3 2.93 9.25 721.95 12.19.5 5.755 1.938 23. 182..2995 115. 16.16 16.3 3.56 158.36 1.2275 39.1 1.813 625 7.8.53 6.3 2.365 62.87 5.767 9.3 65. NA 15. 21. 8. 235.25 2.31 7.5 2.5665 77.5 5.9 625.5 8.5 7.65 2.9 9.8 723.95 12.98.15 5.775 1.96 23. 182.35.2985 VALUE IN U.S. CENTS