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w »MSf Selected Interest & Exchange Rates Weekly Series of Charts A p r # a t , 1978 Prepared by the FINANCIAL MARKETS SECTION DIVISION OF INTERNATIONAL FINANCE BOARD OF GOVERNORS FEDERAL RESERVE SYSTEM Washington, D.C. 20551 « Table of Contents TABLES SUBSCRIPTION RATES: 1. LATEST FIGURES PLOTTED 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, 2. DAILY CERTIFIED SPOT EXCHANGE RATES-H.10 RELEASE CHARTS 1. SPOT EXCHANGE RATE INDEXES 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 tO. INDUSTRIAL STOCK INDEXES CHART 1 SPOT EXCHANGE RATES DOLLAR PRICES OF FOREIGN CURRENCIES AND WEIGHTED AVERAGE VALUES (THIN LINE) AVERAGES FOR WEEK ENDING WEDNESDAY RATIO SCALE MAY 1970 PARITY=100 SCALE 1970 PARITY= 100 120 100 100 * FOREIGN CURRENCY PRICE OF U.S. DOLLAR 80 I * 180 I I I I I CANADIAN DOLLAR Mill A/N - 80 U _ l 140 — FRENCH FRANC 160 _ GERMAN MARK A / V — 120 140 100 I I I I I I I I I | I I | I I | I I j i i i i i i SWISS FRANC JAPANESE YEN DUTCH GUILDER BELGIAN FRANC U.K. POUND CHART 2 3-MONTH FORWARD EXCHANGE RATES PREMIUM (+) OR ( - ) AVERAGES FOR WEEK ENDING WEDNESDAY CENT PER ANNUM 6 CANADIAN DOLLAR + 0 - 6 I I I I I I 11111111111 PER CENT PER ANNUM 6 DUTCH GUILDER + 0 U. K. POUND 6 12 18 SWISS FRANC 6 GERMAN MARK - + 0 i i i I I I IMIMI. I Ml..hill. — — + 0 FRENCH FRANC - JAPANESE YEN - J 6 12 - I 1976 1978 I I t i l l 1976 II I ! I I I I I I I 1978 CHART 3 PRICE OF GOLD IN LONDON # AVERAGES FOR WEEK ENDING WEDNESDAY . DOLLARS PER FINE OUNCE U.S. DOLLARS PER FINE OUNCE (00 — ] 200 180 160 180 160 12.5 Kg BARS AFTERNOON FIXING PRICE 140 140 120 120 100 100 1976 # *• 1978. CHART 4 CALL MONEY RATES WEEKLY SERIES PER CENT PER ANNUM 12 - 8 - PER CENT PER ANNUM U.S. FEDERAL FUNDS JAPAN - - \jh ^ OVERNIGHT EURO-DOLLARS I I I III I I I I I I I - I FRANCE V "S. U.K. 2-DAY LOCAL AUTHORITY > " " V , j aA J - I I I 12 CANADA NETHERLANDS 8 - — 4 - — 0 I I I illllllllll EURO-SWISS FRANC GERMANY EURO-DM Illllllllll 1976 1978 1976 1978 CHART 5 3-MONTH INTEREST RATES WEEKLY SERIES PER CENT PER AH ENT PER ANNUM 12 CANADIAN FINANCE CO. PAPER EURO-DOLLAR U.S. 8 CD S 4 16 12 JAPANESE BANK LOANS AND DISCOUNTS 8 UX. INTERBANK STERLING 4 SWISS INTERBANK RATE 4 GERMAN INTERBANK RATE + 0 1976 1978 1976 197B CHART 6 EURO-DOLLAR DEPOSIT RATES LONDON AVERAGES FOR WEEK ENDING WEDNESDAY PER CENT PER ANNUM PER CENT PER # — ' 10 - OVERNIGHT 3-MONTH - 6 - I I I I 1\/\ 7-DAY I I 6-MONTH VxAx y VA 10 k/W* w - I I I 10 I I I 11111111111 1-YEAR — - 1-MONTH - - I I I I I 1976 I - I 1978 I I I I 1976 I 1978 10 # w # CHART 7 SELECTED EURO-DOLLAR AND U. S. MONEY MARKET RATES AVERAGES FOR WEEK ENDING WEDNESDAY PER CENT PER ANNUM PER CENT PER ANNUM 10 8 - FEDERAL FUNDS DASHED LINE 3-MONTH EURO-DOLLAR DEPOSITS OVERNIGHT EURO-DOLLAR DEPOSITS 90-DAY CD'S DASHED LINE DIFFERENTIAL ADJUSTED FOR RESERVE REQUIREMENTS 11 1976 FAVORS BORROWING IN U. S. IF POSITIVE DIFFERENTIAL ADJUSTED FOR RESERVE REQUIREMENTS 111111111 1978 1 1 1976 I 11 11 11 1111' 1111 n 111 11' 1978 CHART 8 INTEREST ARBITRAGE: 3-MONTH FUNDS DIFFERENTIAL: P L U S M , INDICATES FAVOR DOLLAR ASSETS AVERAGES FOR WEEK ENDING WEDNESDAY R PER ANNUM PER CENT PER 10 I 1 EURO-DOLLAR DEPOSITS 8 INTERBANK , INTERBANK STERLING COVERED FRANKFURT COVERED LONDON 6 4 EURO-DOLLAR DEPOSITS DASHED LINE 2 2 DIFFERENTIAL + 0 + 0 DIFFERENTIAL I N N 111 111 2 iiliiIiiIi 2 10 10 CANADIAN FINANCE CO. PAPER, COVERED EURO-DOLLAR DEPOSITS 8 8 6 4 6 U.S. COMMERCIAL PAPER SWISS INTERBANK (SF) COVERED DASHED LINE 4 DASHED LINE 2 2 DIFFERENTIAL DIFFERENTIAL + 0 + 0 iiIiilii 2 1976 ii J 1978 1 I 1976 I I ill I I I I I'll I I 1978 CHART 9 LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES PER CENT PER CANADA UNITED STATES JAPAN INDUSTRIAL SWITZERLAND GERMANY UNITED KINGDOM FRANCE NETHERLANDS U. S . CORPORATE MONTHLY U. S . CORPORATE MONTHLY EURO-DOLLAR BONDS Aaa BONDS EURO-DM BONDS 1976 1978 CHART 10 INDUSTRIAL STOCK INDEXES WEEKLY SERIES RATIO 1969: 140 120 UNITED STATES 100 UNITED KINGDOM 80 60 320 280 JAPAN 240 200 160 140 120 CANADA 100 SWITZERLAND - An ~ 80 60 I I I 140 120 FRANCE GENERAL INDEX GERMANY 100 80 60 1976 1978 1976 1978 LAST VALUE PLOTTED DATE VALUE S E R I E S NAME ^^HART 1. SPOT EXCHANGE RATES WEEKLY AVERAGES, NOON BUYING RATES ( U . S . CENTS) GERMAN MARK JAPANESE YEN DUTCH GUILDER U . K . POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC BELGIAN FRANC I T A L I A N LIRA # 19 19 19 19 19 19 19 19 19 49.00 0.45342 45.95 185.00 87.12 21.83 52.60 3.14970 0.11658 APRIL APRIL APRIL APRIL APRIL APRIL APRIL APRIL APRIL 19 19 19 19 19 19 19 19 19 1 7 9 ., 3 3 1 6 3 ,. 2 3 1 6 6 ,. 3 3 7 7 .. 0 8 9 4 ,.18 1 2 1 .. 2 3 2 3 0 .. 0 2 1 5 7 .. 4 8 7 2 .. 8 6 19 19 19 19 19 19 19 19 19 19 8 3 ,. 0 3 1 6 6 .. 0 4 145.75 146.96 6 3 ,. 0 0 7 9 .. 9 0 1 0 5 .. 4 4 2 0 2 .. 0 7 1 3 8 .. 6 1 6 0 ,. 1 8 A P R I L 19 A P R I L 19 A P R I L 19 A P R I L 19 A P R I L 19 A P R I L 19 A P R I L 19 - 1 .20 - 1 .10 3 .95 - 1 .45 6 .90 2 .72 5 .62 I N D I C E S , MAY 1 9 7 0 P A R I T I E S = 1 0 0 GERMAN MARK JAPANESE YEN DUTCH GUILDER U . K . POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC BELGIAN FRANC I T A L I A N LIRA WEIGHTED AVERAGE EXCHANGE VALUE I N D I C E S , U . S . DOLLAR GERMAN MARK JAPANESE YEN DUTCH GUILDER U . K . POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC BELGIAN FRANC I T A L I A N FRANC CHART 2 . • APRIL APRIL APRIL APRIL APRIL APRIL APRIL APRIL APRIL MAY 1 9 7 0 = 100 APRIL APRIL APRIL APRIL APRIL APRIL APRIL APRIL APRIL APRIL 3-MONTH FORWARD EXCHANGE RATES, PREMIUM OR DISCOUNT CANADIAN DOLLAR U . K . POUND GERMAN MARK FRENCH FRANC SWISS FRANC DUTCH GUILDER JAPANESE YEN LAST VALUE PLOTTED DATE VALUE SERIES NAME CHART 3 . GOLD PRICE U.S. CHART 4 . I N LONDON DOLLARS PER F I N E OUNCE APRIL APRIL APRIL APRIL APRIL APRIL APRIL APRIL MARCH APRIL 19 19 14 14 14 14 14 14 31 14 6 ,. 7 8 6 ,. 9 3 6 , . 13 7 ,. 4 0 3 .. 5 0 3 .. 2 0 4 .. 1 3 8 ,. 3 8 4 .. 6 9 0 .. 3 0 A P R I L 19 A P R I L 19 A P R I L 19 A P R I L 19 A P R I L 19 A P R I L 19 A P R I L 19 6.82 3.53 4.50 7.26 8.22 7.59 0.30 19 19 19 19 19 19 6.93 6.86 6.98 7.26 7.64 7.89 A P R I L 19 A P R I L 19 A P R I L 19 A P R I L 19 A P R I L 19 A P R I L 19 6.93 6.78 0.44 7.26 6.82 0.30 EURO-DOLLAR DEPOSIT RATES: LONDON APRIL APRIL APRIL APRIL APRIL APRIL OVERNIGHT 7-DAY 1-MONTH 3-MONTH 6-MONTH 1-YEAR CHART 7 . 175.91 3-MONTH INTEREST RATES U . S . 90-DAY CD'S GERMAN INTERBANK LOAN JAPANESE BANK LOANS & DISCOUNTS EURO-DOLLAR DEPOSIT CANADIAN FINANCE PAPER INTERBANK STERLING SWISS INTERBANK LOAN 6. 19 CALL MONEY RATES U . S . FEDERAL FUNDS OVERNIGHT EURO-DOLLAR DEPOSITS U . K . 2 - D A Y LOCAL AUTHORITY DEPOSITS CANADA GERMANY EURO-DM JAPAN FRANCE NETHERLANDS EURO-SWISS FRANC CHART 5 . APRIL SELECTED EURO-DOLLAR AND U . S . MONEY MARKET RATES OVERNIGHT EURO-DOLLAR DEPOSITS U . S . FEDERAL FUNDS D I F F E R E N T I A L A D J . FOR RESERVE REQUIREMENTS 3-MONTH EURO-DOLLAR DEPOSIT RATE U . S . 90-DAY CD'S D I F F E R E N T I A L A D J . FOR RESERVE REQUIREMENTS # SERIES NAME CHART 8 . LAST VALUE PLOTTED DATE VALUE INTEREST A R B I T R A G E , 3-MONTH FUNDS EURO-DOLLAR DEPOSIT INTERBANK STERLING ( L O N D O N ) , COVERED DIFFERENTIAL APRIL APRIL APRIL 19 19 19 7.26 6.49 0.77 U . S . COMMERCIAL PAPER CANADIAN FINANCE PAPER, COVERED DIFFERENTIAL A P R I L 19 A P R I L 19 A P R I L 19 6.79 7.02 -0.23 EURO-DOLLAR DEPOSIT INTERBANK DM ( F R A N K F U R T ) , COVERED DIFFERENTIAL A P R I L 19 A P R I L 19 A P R I L 19 7.26 7.48 EURO-DOLLAR DEPOSIT SWISS I N T E R B A N K , COVERED DIFFERENTIAL A P R I L 19 A P R I L 19 APRIL 19 7.26 7.20 14 7 8.15 5.20 6.04 2.49 9.26 10.84 7.07 10.59 CHART 9 . APRIL APRIL MARCH MARCH APRIL MARCH MARCH APRIL 31 14 31 31 14 CORPORATE AAA BONDS EURO-DM BONDS EURO-DOLLAR BONDS CHART 1 0 . 0.06 LONG TERM GOVERMENT BOND Y I E L D S UNITED STATES GERMANY JAPAN (MONTHLY) SWITZERLAND CANADA FRANCE NETHERLANDS UNITED KINGDOM U.S. -0.22 8.47 6.41 7.99 MARCH JAN. JAN. I N D U S T R I A L STOCK I N D I C E S UNITED STATES JAPAN CANADA FRANCE UNITED KINGDOM SWITZERLAND GERMANY APRIL MARCH MARCH MARCH APRIL APRIL APRIL 14 31 31 31 14 14 7 93.39 268.27 88.70 96.34 106.58 73.04 100.56 m j t F E D E R A L H 10 * R E S E R V E statistical release FOREIGN EXCHANGE RATES FOR THE WEEK ENDING APRIL 2 1 , APRIL 21, 1978 1978 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: (RATE U . S . CENTS ) APR. 19 COUNTRY MONETARY UNIT APR. 17 APR. 18 AUSTRALIA AUSTRIA BELGIUM CANADA DENMARK FINLAND FRANCE GERMANY INDIA IRELAND ITALY JAPAN MALAYSIA MEXICO NETHERLANDS NEW ZEALAND NORWAY PORTUGAL SOUTH AFRICA SPAIN SRI LANKA SWEDEN SWITZERLAND UNITED KINGDOM DOLLAR SCHILLING FRANC DOLLAR KRONE MARKKA FRANC D . MARK RUPEE POUND LIRA YEN DOLLAR PESO GUILDER DOLLAR KRONE ESCUDO RAND PESETA RUPEE KRONA FRANC POUND 114.1800 6.80250 3.14600 87.6000 17.8400 23.9200 21.8250 46.9100 11.9000 184.6000 0.11660 0.45330 42.2600 4.3950 45.8500 102.0000 16.6650 2.4100 115.0500 1.2500 6.5000 21.7750 52.6000 184.6000 114.0000 6.77250 3.14000 87.3600 17.7600 23.8700 21.7450 48.8000 11.9000 184.4000 0.11615 0.45140 41.9600 4.3950 45.8100 101.9500 18.5800 2.4100 115.0500 1.2483 6.5000 21.7600 52.3300 184.4000 114.0500 6.80000 3.13250 87.1300 17.7500 23.8900 21.8000 48.7300 11.9000 184.0800 0.11615 0.45070 41.9800 4.3950 45.7000 101.8500 18.5200 2.4075 115.0500 1.2484 6.5000 21.7200 51.8200 184.0800 APR. 20 APR. 2 1 113.2800 6.71250 3.08150 87.2600 17.5600 23.6800 21.4000 48.0200 11.9000 182.4000 0.11515 0.44100 41.7100 4.3950 45.0350 101.2000 18.3600 2.3850 115.0500 1.2421 6.5000 21.4900 50.5200 182.4000 113.2000 6.69500 3.08200 87.3500 17.5600 23.6800 21.6000 48.2200 11.5000 182.7500 0.11530 0.44270 41.7000 4.3950 45.2100 101.0000 18.3800 2.3750 115.0500 1.2369 6.5000 21.5350 51.2700 182.7500
@FedFRASER