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Selected Interest & Exchange Rates XAfeekly Series of Charts AUGUST 16,1976 DIVISION OF INTERNATIONAL FINANCE Prepared by the FINANCIAL MARKETS SECTION BOARD OF GOVERNORS FEDERAL RESERVE SYSTEM Washington, D C. 20551 1/ 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 135 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 PR ICE-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 10. INDUSTRIAL STOCK INDEXES h Chart 1 SPOT EXCHANGE RATES DOLLAR PRICES OF FOREIGN CURRENCIES A N D WEIGHTED AVERAGE V A L U E S (DASHED LINE) AVERAGES FOR WEEK ENDING WEDNESDAY CANADIAN DOLLAR 100 FOREIGN CURRENCY PRICE OF U.S. DOLLAR 90 V A 80 - /X Vx./ I I I I I fV I I I I H i Ml II l l l l l l l l l l l I JAPANESE YEN FRENCH FRANC 200 ^ : yv vw SWISS FRANC / GERMAN MARK ~ ~tU -i J U Vs/xy V \l / / - r - A ; / ' T/ DUTCH GUILDER A v _ I I - 120 - M A V J r\> V / ' ™Ay , 100 ' I I I I 1 i i I : - I I I lllllllllll " I MIMIMIM 120 I l i l I I — - U.K. POUND ITALIAN LIRA \ V y x _ 'v l \ V 1 1 1 I I I 120 100 BELGIAN FRANC 140 I 160 140 i l _ 180 v> I I ^ - ll \\ - \ V w /'~ w I I I I I I II I II I I I I II - Chart 2 3-MONTH FORWARD EXCHANGE RATES PREMIUMS (+), OR DISCOUNT ( - ) AVERAGES FOR WEEK ENDING WEDNESDAY ENT PER ANNUM 6 CANADIAN DOLLAR 0 . 6 PER CENT PER ANNUM 12 6 SWISS FRANC U.K. POUND 0 6 12 — r 12) DUTCH GUILDER 6 0 I I 6 6 FRENCH FRANC — I I I 12 I lllllllllll I JAPANESE YEN 2 per cent on scale equals 1 per cent on all others f A, 0 6 —j V GERMAN MARK : I I I I I I 1974 I r^Y i i 1 11111! 11 •976 L Chart 3 j PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY US. DOLLARS PER FNE OUNCE 210 12.5 Kg BARS - Afternoon fixing price 180 150 120 90 60 1974 1976 Chart 4 CALL MONEY RATES WEEKLY SERIES 15 OVERNIGHT EURO-DOLLARS 10 5 JAPAN U. S. FEDERAL FUNDS 0 20 20 U.K. 2 - D A Y LOCAL AUTHORITY FRANCE 15 10 5 0 15 10 15 NETHERLANDS CANADA 5 0 20 20 EURO-SWISS FRANC 15 GERMANY 10 5 0 EURO-DM 5 1974 1976 1974 1976 Chart 5 3-MONTH INTEREST RATES 1 WEEKLY SERIES PER CENT PER ANNUM PER CENT PEN ANNUM UNITED STATES CD's CANADIAN FINANCE CO. PAPER U.K. INTERBANK STERLING EURO-DOLLAR SWISS DEPOSIT RATE JAPAN Monthly Chart 6 EURO-DOLLAR DEPOSIT RATES London AVERAGES FOR WEEK ENDING WEDNESDAY PER 16 OVERNIGHT 3-MONTH 12 8 4 16 16 6-MONTH 7-DAY 12 8 4 16 16 1-MONTH 1-YEAR 12 8 4 lulu 1974 1976 1974 1976 Chart 7 SELECTED EURO-DOLLAR AND U.S. MONEY MARKET RATES AVERAGES FOR WEEK ENDING WEDNESDAY PER CENT PER ANNUM 15 (— 3-MONTH Euro-dollar deposits FEDERAL FUNDS 10 OVERNIGHT Euro-dollar deposits 5 90 DAY CD's 0 DIFFERENTIAL Adjusted for reserve requirements DIFFERENTIAL Adjusted for reserve requirements l u 1974 Favors Borrowing in U.S. if Positive 1976 1974 1976 Chart 8 INTEREST ARBITRAGE: 3-MONTH FUNDS AVERAGES FOR WEEK ENDING WEDNESDAY • DIFFERENTIAL: PLUS(+), INDICATES FAVOR DOLLAR ASSETS PER CENT PER ANNUM PER CENT PER ANNUM 20 20 INTERBANK DM Covered Frankfurt INTERBANK STERLING Covered London EURO-DOLLAR DEPOSITS EURO-DOLLAR DEPOSITS XvV^ v DIFFERENTIAL DIFFERENTIAL 15 CANADIAN FINANCE CO. PAPER, COVERED EURO-DOLLAR DEPOSITS SWISS DEPOSITS (SF) COVERED 10 5 U.S. COMMERCIAL PAPER DIFFERENTIAL DIFFERENTIAL r 5 1974 1976 1974 1976 Chart 9 LONG-TERM GOVERNMENT BOND; YIELDS WEEKLY SERIES PER PER CENT PER I -NT PER ANNUM CANADA 9 10 UNITED STATES 8 7 LLLLUI S 1 I I I I 6 11 9 12 SWITZERLAND JAPAN \ Industrial .10 8 7 5 GERMANY 6 3 14 18 UNITED KINGDOM 1* 12 - FRANCE /v: 10 - 8 16 14 12 NETHERLANDS 10 6 - 4 1 12 1 1 1 Illllllllll 1 8 12 — U.S. CORPORATE Monthly 10 1 _ U S. CORPORATE Monthly Aaa bonds A / 8 6 7- i Z ZV i i - r / \ Euro-dollar bonds / / V \ A | „ x , Euro-Dm bonds ih; 10 8 6 Chart 10 INDUSTRIAL STOCK INDEXES WEEKLY SERIES RATIO SCALE 1969=100 180 UNITED STATES 100 45 140 400 300 100 UNITED KINGDOM JAPAN 200 60 100 35 240 140 180 100 SWITZERLAND CANADA 60 100 60 35 180 180 FRANCE General Index 100 100 GERMANY 60 60 Digitized for 45 FRASER http://fraser.stlouisfed.org/ 1974 Federal Reserve Bank of St. Louis 45 1976 1974 1976 S E R I E S NAME CHART 1 , SPOT EXCHANGE RATES U . S . D O L L A R , WEIGHTED AVERAGE JAPANESE YEN GERMAN MARK DUTCH G U I L D E R U . K . POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC B E L G I A N FRANC ITALIAN LIRA CHARI 2 . GOLD P R I C E U.S. 4. 11 11 11 11 11 11 11 11 11 11 90.65 122.95 144.00 134.50 74.58 109.47 111.62 175.60 157.33 7^.76 DOLLAR PER F I N E OUNCE CALL AUG. 1 1 AUG. 1 1 AUG. 1 1 AUG. 1 1 AUG. 1 1 AUG. 1 1 AUG. 1 1 -4.03 -7.45 1.41 -5.06 4.62 -5.08 -0.39 I N LONDON AUG. 11 113.01 AUG. AUG. AUG. JULY AUG. JULY AUG. AUG. JULY JULY 11 11 6 30 6 30 6 6 30 30 5.25 5.39 10.50 9.03 4.30 4.45 7.25 9.25 5.25 2.13 AUG. AUG. JUNE AUG. AUG. AUG. AUG. 11 11 5.33 4.54 8.24 5.79 9.60 11.01 4,50 MONEY RATES U . S . FEDERAL FUNDS OVERNIGHT EURO-DOLLAR D E P O S I T S U . K . 2 - D A Y LOCAL AUTHORITY D E P O S I T S CANADA GERMANY EURO-DM JAPAN FRANCE NETHERLANDS EURO-SWISS FRANC CHART 5 . AUG. AUG. AUG. AUG. AUG. AUG. AUG. AUG. AUG. AUG. 3-MONTH FORWARD EXCHANGE RATES CANADIAN DOLLAR U . K . POUND GERMAN MARK FRENCH FRANC SWISS FRANC DUTCH G U I L D E R JAPANESE YEN CHART 3 . LAST VALUE PLOTTED DATE VALUE 3-MONTH I N T E R E S T RATES U . S . C D ' S ( 6 0 - 8 9 DAYS) GERMAN I N T E R B A N K LOAN JAPANESE COMPOSITE LOAN EURO-DOLLAR D E P O S I T CANADIAN FINANCE COMPANY PAPER INTERBANK S T E R L I N G SWISS D E P O S I T 11 11 11 11 LAST VALUE PLOTTED DATE VALUE S E R I E S NAME CHART 6 . EURODOLLAR DEPOSIT R A T E S : LONDON 11 11 11 11 11 11 5.39 5.31 5.40 5.79 6.25 6.83 AUG. AUG. AUG. AUG. AUG. AUG. 11 11 11 11 11 11 5.39 5.25 0.36 5.79 5.33 0.36 AUG. AUG. AUG. 11 11 11 5.79 3.56 2.23 U . S . COMMERCIAL PAPER CANADIAN FINANCE C O . P A P E R , COVERED DIFFERENTIAL AUG. AUG. AUG. 11 11 11 5.38 5.57 -0.19 EURO-DOLLAR DEPOSIT INTERBANK DM ( F R A N K F U R T ) , DIFFERENTIAL AUG. AUG. AUG. 11 11 11 5.79 5.95 —0.16 AUG. AUG. AUG. 11 11 11 5.79 9.12 —3.33 AUG. AUG. AUG. AUG. AUG. AUG. OVERNIGHT 7-DAY 1-MONTH 3-MONTH 6-MONTH 1-YEAR CHART 7 . SELECTED EURO-DOLLAR AND U . S . MONEY MARKET RATES OVERNIGHT EURO-DOLLAR D E P O S I T S 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 D E P O S I T RATE U . S . C D ' S ( 6 0 - 8 9 DAYS) D I F F E R E N T I A L A D J . FOR RESERVE REQUIREMENTS CHART 8 . INTEREST ARBITRAGE, 3 - M O N T H FUNDS EURO-DOLLAR DEPOSIT INTERBANK S T E R L I N G ( L O N D O N ) , DIFFERENTIAL COVERED EURO-DOLLAR DEPOSIT SWISS D E P O S I T ( S F ) , COVERED DIFFERENTIAL COVERED S E R I E S NAME CHART 9 . LONG TERM GOVERNMENT BOND Y I E L D S AUG. JULY JUNE JULY JULY JULY JULY JULY U N I T E D STATES GERMANY JAPAN (MONTHLY) SWITZERLAND CANADA FRANCE NETHERLANDS U N I T E D KINGDOM U.S. 6 30 30 30 30 30 30 7.83 8.17 8.77 5.09 9.37 10.18 8.94 13.84 CORPORATE JUNE JUNE JUNE AAA BONDS EURO-DM BONDS EURO-DOLLAR BONDS CHART 1 0 . LAST VALUE PLOTTED VALUE DATE INDUSTRIAL STOCK U N I T E D STATES JAPAN CANADA FRANCE U N I T E D KINGDOM SWITZERLAND GERMANY 8.62 7.48 8.11 INDEXES AUG. JULY JULY JULY JULY AUG. JULY 6 16 23 30 30 6 30 108.62 231.55 104.10 99.64 88.52 70.09 95.05 m & FEDERAL W H . 10 RESERVE statistical release AUGUST 1 6 , FOREIGN EXCHANGE RATES FOR THE WEEK ENDING AUGUST 1 3 , 1976 1976 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 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 MONETARY UNIT AUG. DOLLAR SCHILLING FRANC DOLLAR KRONE MARKKA FRANC D . MARK RUPEE POUND LIRA YEN DOLLAR PESO GUILDER DOLLAR KRONE ESCUDO RAND PESATA RUPEE KRONA FRANC POUND 123*8800 5.54000 2.54630 101.1100 16.4000 25.7600 20.1100 39.2600 11.1500 179.2500 0.11960 0.34170 40.2100 8.0000 37.2100 99.5300 18.0900 3.1900 114.8500 1.4630 11.5000 22.5800 40.0900 179.2500 9 AUG. 1 0 IRATE U . S . CENTS) AUG. 1 1 123.9700 5.54000 2.54500 101.3600 16.3900 25.7400 20.0600 39.3000 11.1500 178.9500 0.11950 0.34150 40.2300 8.0000 37.1900 99.7400 18.1000 3.2000 114.8500 1.4605 11.5000 22.5600 39.9200 178.9500 123.9100 5.54000 2.54750 101.2600 16.3900 25.7200 20.0700 39.4100 11.1500 178.9800 0.11960 0.34180 40.3000 8.0000 37.2300 99.5600 18.1000 3.190# 114.8500 1.4630 11.5000 22.5800 40.1400 178 . 9 8 0 0 AUG. 12 AUG. 123.9600 5.55000 2.54500 101.3700 16.3700 25.7200 19.9500 39.3100 11.1500 178.5200 0.11950 0.34170 4 0 . 2400 8.0000 37.1400 99.6100 18.1000 3.1900 114.8500 1.4641 11.5000 22.5700 40.0500 178.5200 123.9000 5.55000 2.55440 101.2900 16.3900 25.7100 19.9800 39.4900 11.1500 176.1500 0.11950 0.34350 40.2500 8.0000 37.0400 99.4300 18.1000 3.2000 114.8500 1.4556 11.5000 22.6000 40.1800 178.1500 13