(516/517)
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
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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
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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
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