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Selected Interest & Exchange Rates Weekly Series of Charts AUGUST 15, 1977 DIVISION OF I N T E R N A T I O N A L FINANCE Prepared by the FINANCIAL MARKETS SECTION BOARD OF GOVERNORS F E D E R A L 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 8. INTEREST ARBITRAGE: 3-MONTH FUNDS 9. LONG-TERM GOVERNMENT BOND YIELDS 10. INDUSTRIAL STOCK INDEXES ##'' • CHART 1 SPOT EXCHANGE RATES DOLLAR PRICES OF FOREIGN CURRENCIES AND WEIGHTED AVERAGE VALUES (DASHED LINE) AVERAGES FOR WEEK ENDING WEDNESDAY KBY SCALE 1970 PARITY=100 RATIO SCALE MAY 1970 PARITY=100 CANADIAN DOLLAR 120 FOREIGN CURRENCY PRICE OF U.S. DOLLAR # 100 V *0 1 1 l u l u 111 80 140 /A JAPANESE YEN m A — V I / ' V ^ v " I I . 120 \ T 100 140 FRENCH FRANC — — ' I 100 111 u l l 1111 SWISS FRANC GERMAN MARK DUTCH GUILDER BELGIAN FRANC 120 100 100 - — X U.K. POUND ITALIAN LIRA A i \ \V^ — N — -—• illlllllllllll 1977 80 A—- 60 - 1975 100 I I I I I 1975 I Illilllllll 1977 Chart 2 3-MONTH FORWARD EXCHANGE RATES PREMIUM (+) OR ! - ) AVERAGES FOR WEEK ENDING WEDNESDAY :ENT PER ANNUM 6 4- CANADIAN DOLLAR 0 6 I i 11 > I : i j i i ! PER CENT P£R 1 4- 0 ~1 DUTCH GUILDER U. K. POUND r 6 / i ! I I' i I'1 ' IIi ' 18 - • i i i ' i j I ' I I •m : : i | ! ! : ! i ! ! j : : i | 1 I i I 12 SWISS FRANC — GERMAN MARK ' I A 12 6 ANNUM j\ 'Aft /*\ j I + 0 I 1 6 'Lillllj \ 1 1 1 i i .1 . i i 1 ! 1 ! 1 ! i i |; i j1 ! ! i 1 ! ! 1 j | 6 6 12 JAPANESE YEN + 0 2 PER CENT ON SCAL.E E Q U A L S • PER CENT ON ?• LL. OTHER FRENCH FRANC /Nwv v n 6 12 12 24 J 1975 1977 1 i 1975 ' i i i ' i : ! ! 19" CHART 3 PRICE OF GOLD IN LONDON A V E R A G E S FOR WEEK ENDING W E D N E S D A Y U.S. DOLLARS PER FINE OUNCE U.S. DOLLARS PER FINE OUNCE 200 180 200 — 12.5 Kg BARS AFTERNOON FIXING PRICE 160 ... 140 180 - 160 - 120 100 140 120 - 80 - 100 80 CHART 4 CALL MONEY RATES WEEKLY SERIES PER CENT PER ANNUM PER CENT PER ANNUM 16 U.S. FEDERAL FUNDS VvL JAPAN - OVERNIGHT EURO-DOLLARS — I te - I I I I I - flf U.K. 2 - D A Y LOCAL AUTHORITY 12 vA|/l d J V Li FRANCE 8 4 12 V - I I I I I I it I n h i l i i - I I ! I I I I I I !I CANADA 8 - 4 - 0 i i l i i l n l n — NETHERLANDS — - I I I I I I 11111 I I I 111 11111111111 EURO-DM GERMANY 1975 EURO-SWISS FRANC 1977 1975 1977 12 CHART 5 3-MONTH INTEREST RATES WEEKLY SERIES PER CENT PER ANNUM PER CENT PER ANNUM 12 " 1 / u f\f\ ! 1 V I UNITED STATES C D ' s V HMMUIMM l-INANU CANADIAN FINANCE / CC, PAPER ..A/' •jy i il \ f \ - rJ | " i l l , - i i i 1 : ! i • 111111 i i II j 1 I ' ' 1 H I' I i • nil iliiii i 18 10 U.K. INTERBANK STERLING 14 1 GERMAN INTERBANK RATE - -1 1 I I n 14 M I EURO-DOLLAR SWISS INTERBANK RATE 10 I JAPAN I ^ MONTHLY 4 / I / I / \ / 1 1 1 L. I I 1 975 \L I A i I I ! I I ! i 1: 1! 1; I I i I ! I I ! : 1 ! I . ' ' • 1 i 1 1 L • 1 11 1977 ! i I -U-i i i i! 11 i j I I ; 1975 1977 10 CHART 6 EURO-DOLLAR DEPOSIT RATES LONDON AVERAGES FOR WEEK ENDING WEDNESDAY PER CENT PER ANNUM PER OVERNIGHT CENT PER ANNUM 3-MONTH 12 — AVv - J 12 7-DAY 6-MONTH - v / " 1-MONTH 1975 ~ 1-YEAR 1977 1975 1977 4 CHART 7 J SELECTED EURO-DOLLAR AND U. S. MONEY MARKET RATES AVERAGES FOR WEEK ENDING WEDNESDAY PER CENT PER ANNUM 12 PER CENT PER ANNUM - 12 OVERNIGHT EURO-DOLLAR DEPOSITS 3-MONTH E U R O - D O L L A R DEPOSITS FEDERAL FUNDS DASHED LINE 90-DAY CD'S DASHED LINE DIFFERENTIAL A D J U S T E D FOR DIFFERENTIAL A D J U S T E D FOR RESERVE REQUIREMENTS I 1975 FAVORS BORROWING IN U. S. IF POSITIVE i I I M l ] I I I I I I I I i I I II' I M h i i u I i i I i i 11 i I i i I i i I i i 1977 RESERVE REQUIREMENTS 1975 1977 CHART 8 INTEREST ARBITRAGE: 3-MONTH FUNDS DIFFERENTIAL: PLUS(+), INDICATES FAVOR DOLLAR ASSETS AVERAGES FOR WEEK ENDING WEDNESDAY PER CENT PER ANNUM M H' 12 PES CEN! n EURO-DOLLAR DEPOSITS - I [ \l\ / INTERBANK STERLING COVERED 6 ANNUM INTERBANK DM LONDON ,'ERED FRANKFUR! 1 - -A EURO-DOLLAR DEPOSITS DASHED DIFFERENTIAL ti it! CANADIAN FINANCE CO. PAPER, i 1 " 1 ' I DIFFERENTIAL I I Ml I ! I LINE i ! I i M 11 i COVERED EURO-DOLLAR DEPOSITS 12 12 /V -i ,X U.S. COMMERCIAL PAPER DASHED LINE H *Xvh/V SWISS INTERBANK (SF) COVERED | I DASHED LINE DIFFERENTIAL ,'7V/VX/ ^JV/X DIFFERENTIAL 1975 1977 197' 1977 CHART 9 LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES PER :ENT PER ANNUM PER CENT PER AN 9 CANADA UNITED STATES 10 8 7 5 6 i i l u l u I i i 11 8 \ JAPAN INDUSTRIAL \ V \ V y ^ \ SWITZERLAND 9 6 GERMANY 7 4 - 5 I I I I I I Mil ll 2 I, 13 18 11 16 UNITED IKINGDOM FRANCE - , Wv - 9 14 7 12 NETHERLANDS I 5 I I iilliIiilli 12 U. S. CORPORATE MONTHLY U. S. CORPORATE 10 11 MONTHLY / \ EURO-DOLLAR BONDS A 10 9 Aaa BONDS 8 7 EURO-DM BONDS 6 5 1975 1977 1975 1977 CHART 10 INDUSTRIAL STOCK INDEXES WEEKLY SERIES RATIO 1969: SCALE CO 1 180 140 — UNITED STATES - 100 80 6G-1 60 I I I I I I I III I ! N i l , : UNITED KINGDOM 360 - 280 JAPAN 200 160 120 i I I I I I I ' l l i l l i l l I 11111111! 11 180 —1 120 100 140 f V CANADA SWITZERLAND 80 t-S- 100 \jJ \ - 80 60 V\j j ' I i 11 j 111 11! 11 11 ' I I j I 60 I I I I I I I ! 11111111 I I I I I ! ! M ! u h I 180 40 180 140 140 FRANCE GENERAL INDEX — GERMANY 100 /V r\t^J rA 80 . 10 0 / I 80 I ^ 60 I 1975 1977 v I i i I I 1975 I I ! I I ! ! I i ! i ! ! i I I I I-LLLLL !I 197 GO LAST SERIES CHART I . SPOT EXCHANGE NAME GOLD PRICE U.S. CHART 4 . 10 10 10 10 10 10 10 10 10 10 Cd.S-O 13 5 . 3 7 158.66 14c.23 7 . 44 100.60 113.SO lSx.f3 14 i . 0 fc 70.86 AUG. AUG. AUG. 10 10 10 10 10 10 10 -1.26 -1.93 2.4Z -5.38 3.70 2.77 0 . 14 AUG. 10 146.07 AUG. 10 AUG » 10 A UG . 5 AUG. 5 AUG. 5 c AUG . 5 AUG. 5 AUG. JULY 15 c AUG. 5.70 5.55 7.00 7.30 3.75 3.89 5.75 t-62 0.60 1.00 AUG. AUG . AUG. AUG. I N LONDON DOLLAR PER FINE OUNCE CALL MONEY RATES U . S . FEDERAL FUNDS OVERNIGHT EURO-DOLLAR DEPOSITS U . K . 2-DAY LOCAL AUTHORITY DEPOSITS CANADA GERMANY EURO-DM JAPAN FRANCE NETHERLANDS EURO-SWISS FRANC CHART 5 . AUG. AUG. AUG. ALG . AUG. AU U • AUG . AUG. AUG. AUG . 3-MONTH FORWARD EXCHANGE RATES CANADIAN. DOLLAR U . K . POUND GERMAN MARK FRENCH FRANC SWISS FRANC DUTCH GUILDER JAPANESE YEN CHART 3 . PLOTTEI VALUE RATES U . S . DOLLAK, WEIGHTED AVERAGE JAPANESE YEN GERMAN MARK DUTCH GUILDER U . K . POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC BELC-UN FRANC I T A L I A N LIRA CHART 2 . VALUE UATc 3-MONTH INTEREST RATES U . S . CD'S ( 6 0 - 8 9 DAYS 5 GERMAN INTERBANK LOAN JAPANESE COMPOSITE LOAN EURO-DOLLAR DEPOSIT CANADIAN FINANCE COMPANY PAPER INTERBANK STERLING SWISS INTERBANK LOAN AUG. AUG. J UN h AUG. * UG. AUG. AUG . :c 1C 4.03 10 10 10 7.60 6 . 16 7.33 7.2 0 10 5.65 2 . dC LAST SERIES NAME CHART 6 . VALUE DATE PLOTTED VALUE EURO-DOLLAR DEPOSIT RATES: LONDON 10 10 5.85 5 . 64 5.89 6 . 18 6.36 6.54 1C 10 10 10 10 10 5.55 5.70 0.3V 6 . 16 5.65 0.43 EURO-DOLLAR DEPOSIT INTERBANK STERLING (LONDON), COVERED DIFFERENTIAL AUG. 10 AUG. 10 AUG. 10 6 . 16 5 .27 0.90 U . S . COMMERCIAL PAPER CANADIAN FINANCE CO. PAPER, COVERED DIFFERENTIAL AUG. 10 AUG. 10 AUG. 10 5.60 C/. 1 v -0.50 EURO-DOLLAR DEPOSIT INTERBANK DM (FRANKFURT), COVERED DIFFERENTIAL AUG. 10 AUG. 10 AUG. 10 6.16 6.45 -0.27 EURO-DOLLAR DEPOSIT SWISS INTERBANK, COVERED DIFFERENTIAL AUG. 10 AUG. 10 A U L . 10 c . 18 c .20 -0.02 AUG. AUG. AUG. AUG. AUG. AUG. OVERNIGHT 7-DAY 1-MONTH 3-MONTH 6-MONTH 1-YEAR SELECTED EURO-DOLLAR AND U . S . MONEY MARKEl CHART OVERNIGHT EURO-DOLLAR DEPOSITS U . S . FEDERAL FUNDS DIFFERENTIAL A D J . FOR RESERVE REQUIREMENTS 3-MONTH EURO-DOLLAR DEPOSIT RATE U . S . CD'S ( 6 0 - 8 9 DAYS) DIFFERENTIAL A D J . FOR RESERVE REQUIREMENTS ). INTEREST ARBITRAGEt 10 10 10 10 KATES AUG. AUG. AUG. AUG. AUG. AUG. 3-MONTH FUNDS LAST SERIES CHART 9. LONG TERM NAME GOVERNMENT BOND UNITED STATES GERMANY JAPAN SWITZERLAND CANADA FRANCE NETHERLANDS U.S. KINGDOM YIELDS 7.43 b ,6b 7.43 4 « c. C 8.71 10.55 7.09 12.26 CORPORATE AAA BONDS EURO-DM BONDS INDUSTRIAL UNITED JAPAN STATES CANADA FRANCE UNITED KINGDOM SWITZERLANDGERMANY JULY JUNE JUNfc BONDS EURO-DOLLAR CHART 1 0 . PLGT7 VALUE AUG. 5 JULY 2 9 MAY AUG. 5 AUG. 5 JULY 2 9 JULY 1 5 JULY 2 9 (MONTHLY) UNITED VAUUFR OATC STOCK 7. 94 6.75 7.6^ INDEXES AUG. JULY JULY JLLY AUG . JULY JULY C 22 22 22 5 29 29 I E I . 2 2 247.57 94.77 60. iC 112.01 74.22 9= . 0 5 : m & FEDERAL RESEKVE statistical Release *UGUST FOREIGN EXCHANGE RATES FOR THE WEEK ENDING AUGUST 1 2 , 1977 1977 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 AUSTRALIA AUSTRIA BELGIUM CANADA DENMARK FINLAND FRANCE GERMANY INDIA IRELAND ITALY JAPAN MALAYSIA MEXICO NETHERLANDS NEW ZEALAND NORWAY PORTUGAL SOUTH AFRICA SPAIN S R I LANKA SWEDEN SWITZERLAND U N I T E D KINGDOM DOLLAR SCHILLING FRANC DOLLAR KRONE MARKKA FRANC D . MARK RUPEE POUND LIRA YEN DOLLAR PESO GUILDER DOLLAR KRONE ESCUDO RAND PfcSATA RUPEE KRONA FRANC POUND AUG. 8 AUG. (RA E U . S . CENTS) AUG. 1 0 110. 3 9 0 0 110.4000 9 3 . 1500 16. 6 6 0 0 2 4 . 7900 20. 4 4 0 0 4 3 . 2250 11. 4 7 0 0 173. 7300 0 . 11340 0 . 37560 4 0 . 7300 4 . 3663 4 0 . 8700 9 7 . 0000 9300 2. 5 8 5 0 114. 9500 1 . 1802 13. 7300 22. 9 0 0 0 4 1 . 4600 1 7 3 . 7300 2.82050 92.9350 16.6400 24.8000 20.4650 43.3100 11.4700 173.8100 0.11340 0.37600 40.7000 4.3575 40.9750 96.9000 18.9800 2.5700 114.9500 1.1804 13.7300 22.8300 41.5350 173.8100 6. 1 0 5 0 0 2. 8 1 6 5 0 18. 6.08000 AUG. 11 24.7800 20.4150 43.1000 11.4700 173.9000 0.11339 0.37585 40.7300 4.3663 40.8100 96.8500 18.9350 2.5775 114.9500 110.3200 6.07500 2.81350 93.0250 16.6550 24.8200 20.4000 43.1200 11.4700 173.8000 0.11335 0.37600 40.7200 4.3650 40.9000 96.9000 19.0200 2.5700 115.0500 13.7300 22.7200 41.3650 173.9000 13.7300 22.7600 41.4200 173.8000 110.2700 6.07000 2.81400 92.7300 16.6200 1.1802 1.1802 AUG. 12 110.2500 6.04000 2.80150 92.7300 16.6100 24.7200 20.3400 42 . 8 6 0 0 11.4700 173.7800 0.11320 0.37540 40.7500 4.3700 40.7300 96.8000 18.9600 2.5700 115.0500 1.180*0 13.7300 22.6400 41.2800 173.7800
@FedFRASER