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(516/517? , » « ' S .. Selected Interest & Exchange Rates Weekly Series of Charts # August 27,1979 DIVISION OF INTERNATIONAL FINANCE Prepared by the FINANCIAL MARKETS SECTION BOARD OF GOVERNORS FEDERAL RESERVE SYSTEM Washington, D C. 20551 Table of Contents TABLES SUBSCRIPTION RATES: 1. LATEST FIGURES PLOTTED 2. DAILY CERTIFIED SPOT EXCHANGE RATES H.10 RELEASE 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. CHARTS 1. SPOT EXCHANGE RATE INDICES 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 INDICES 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=100 RATIO SCALE MARCH 1973=100 120 100 FOREIGN CURRENCY PRICE OF U.S. DOLLAR 80 CANADIAN DOLLAR 60 180 160 GERMAN MARK — . 140 - 120 - 100 I I I I I I FRENCH FRANC - 11111111111 1,7 160 • 140 240 AJI — JAPANESE YEN 120 — » — J[^\ SWISS FRANC - J 1 1 1 1 1 1 11111111111 1 11111111111 - - 200 - 160 - 140 DUTCH GUILDER - k j Hill hill I - 120 120 160 BELGIAN FRANC — 140 - - 80 160 . / 100 • AZu/v - 140 120 - - 100 | | 100 I I I I I I I I I 100 100 ITALIAN LIRA U.K. POUND 1977 1979 1977 1979 - 80 — 60 CHART 2 3-MONTH FORWARD EXCHANGE RATES PREMIUM (+) OR ( - ) AVERAGES FOR WEEK ENDING WEDNESDAY PER CENT PER ANNUM PER CENT PER ANNUM 6 — —— CANADIAN DOLLAR ITALIAN LIRA - - A — X / 24 ~ U. K. POUND DUTCH GUILDER — 6 - 6 - 12 10 12 GERMAN MARK - - - A SWISS FRANC 12 ht - - M |I.|II|M FRENCH FRANC JAPANESE YEN 12 I \A - II I I I I I I I II 1977 1979 1977 1979 ~ CHART 3 PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY )LLARS PER FINE OUNCE U.S. DOLLARS PER FINE OUNCE 320 300 280 260 12.5 Kg BARS 240 AFTERNOON FIXING PRICE 220 200 180 160 140 120 J 1976 L 1977 i i I i i I 1978 i i I i i i i I i i I 1979 i i 100 CHART 4 CALL MONEY RATES WEEKLY SERIES PER CENT PER ANNUM PER CENT PER ANNUM 14 12 JAPAN 10 OVERNIGHT EURO-DOLLARS U.S. FEDERAL FUNDS i lii h i l i 2 u J i i h i l i i 16 1 1 12 U.K. 2 - D A Y LOCAL AUTHORITY NETHERLANDS - I I I 1 1 1 — - FRANCE | 12 CANADA K V 1 GERMANY y v V I I EURO-DM 1977 - 8 - 4 EURO-SWISS FRANC 1979 1977 1979 CHART 5 3-MONTH INTEREST RATES WEEKLY SERIES PER CENT PER ANNUM PER CENT PER ANNUM 16 16 U.K. INTERBANK STERLING J* 12 U.S. CD S WEIGHTED AVERAGE FOREIGN RATE 10 S JAPANESE BANK LOANS AND DISCOUNTS — - - - GERMAN INTERBANK RATE / - r - 2 I I - I 13 SWISS INTERBANK RATE - . CANADIAN FINANCE CO. PAPER — X IA A - 1 1 1 1 1 1977 1 1 1979 1 1977 1 11111111111 1979 - CHART 6 EURO-DOLLAR DEPOSIT RATES LONDON AVERAGES FOR WEEK ENDING WEDNESDAY PER:CENT PER ANNUM PER CENT PER ANNUM „ OVERNIGHT 3-MONTH I I I I I I I 7-DAY 6-MONTH 1-MONTH 1-YEAR 1977 1979 1977 / i i i i i i i i i n 1979 CHART 7 SELECTED EURO-DOLLAR AND U. S. MONEY MARKET RATE AVERAGES FOR WEEK ENDING WEDNESDAY PER CENT PER ANNUM PER CENT PER ANNUM 12 - 10 OVERNIGHT EURO-DOLLAR DEPOSITS 3-MONTH EURO-DOLLAR DEPOSITS FEDERAL FUNDS DASHED LINE / — 90-DAY CD S 6 DASHED LINE M i l l 4 2 DIFFERENTIAL ADJUSTED 1 FOR DIFFERENTIAL RESERVE REQUIREMENTS - - 11111111111 M I 1977 FAVORS BORROWING IN U. S . IF POSITIVE 1979 i \ I I I I I 1977 I 11111111111 - 11111111111 1979 CHART 8 INTEREST ARBITRAGE: 3-MONTH FUNDS DIFFERENTIAL: PLUS(+), INDICATES FAVOR DOLLAR ASSETS AVERAGES FOR WEEK ENDING WEDNESDAY PER PER CENT PER AN ENT PER ANNUM 16 12 EURO-DOLLAR DEPOSITS CANADIAN FINANCE CO. PAPER, COVERED 8 4 INTERBANK STERLING + COVERED LONDON 0 f U.S. COMMERCIAL PAPER 4 DIFFERENTIAL 4 DIFFERENTIAL + 0 16 14 SWISS INTERBANK (SF) COVERED 12 INTERBANK DM COVERED FRANKFURT 10 '' 8 EURO-DOLLAR DEPOSITS EURO-DOLLAR DEPOSITS DASHED LINE 6 4 2 DIFFERENTIAL + DIFFERENTIAL 0 2 I I I I 1977 IIIIIILLLLL I 1979 1977 1979 CHART 9 LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES PER CENT PER ANNUM PER CENT PER ANNUM 10 11 UNITED S T A T E S W v ~~' - — 8 e CANADA i 6 1 1 — |,, 1 ~ 9 7 1 e SWITZERLAND 8 - - e 6 - 4 ~ l ' GERMANY J - - - y - I — ~ I 1 16 13 UNITED KINGDOM FRANCE 11 9 - 14 12 - 10 NETHERLANDS 11 U. S. CORPORATE MONTHLY 11 MONTHLY — Aaa BONDS \ - JAPAN / EURO-DOLLAR BONDS - I 1977 1979 I I 1977 1979 CHART 10 INDUSTRIAL STOCK INDICES WEEKLY SERIES RATIO 5 RATIO SCALE 1969=' 140 120 UNITED STATES UNITED KINGDOM 100 80 360 320 280 240 200 140 SWITZERLAND 120 CANADA 100 80 150 130 FRANCE GENERAL INDEX 110 GERMANY - — 90 — I 70 1977 1979 I I I I 1977 I 1979 LAST VALUE PLOTTED DATE VALUE SERIES NAME CHART I . S»OT EXCHANGE RATES AND INDICES WEEKLY AVERAGES, NOON BUYING R A T S ( U . S . CENTS) GERMAN MARK JAPANESE YEN DUTCH GUILDER U . K . POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC BELGIAN PRANC I T A L I A N LIRA I N D I C E S , MARCH 1973 GERMAN "ARK JAPANESE YEN DUTCH GUILDER U . K . POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC BELGIAN FRANC I T A L I A N LIRA AUG. AUG. AUG. AUG. AUG. AUG. AUG. AUG . AUG. 22 22 22 22 22 22 22 22 22 54.64 0.45914 49.70 221.78 95.58 23.47 60.29 3.40843 0.12219 AUG. AUG. AUG. AUG. AUG. AUG. AUG. AUG. AUG. 22 22 22 22 2? 22 22 22 22 1 5 3 ,. 7 0 1 2 0 . .22 142.. 6 9 89.. 7 0 85,.30 105. .75 193, .95 1 3 4 . ,31 6 9 . .41 22 22 22 22 22 22 22 22 22 22 22 87..38 147,. 1 5 109..12 1 3 0 . .56 7 8 . .89 75,. 1 4 94..56 1 7 7 . .23 1 2 1 ,. 9 9 60. . 2 1 9 3 . ,94 22 22 22 22 22 22 22 22 - 0 ,.31 - 2 . .37 5..01 - 0 ..47 10.. 1 6 2..40 5,. 3 6 —3 < .13 BASE RATES = 100 WEIGHTED AVERAGE EXCHANGE VALUE INDICES, MAR 1973 = 100 ( G - 1 0 COUNTRIES PLUS SWITZERLAND) 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 LIRA SWEDISH KRONA • AUG. AUG. AUG. AUG. AUG. AUG. AUG. AUG. AUG. AUG. AUG. CHART 2 . 3-MONTH FORWARD EXCHANGE RATES, PREMIUM OP DISCOUNT CANADIAN DOLLAR U . K . POUND GERMAN MARK FRENCH FRANC SWISS FRANC DUTCH GUILDER JAPANESE YEN I T A L I A N LIRA # AUG. AUG. AUG. AUG. AUG. AUG. AUG. AUG. LAST VALUE PLOTTED ' DATE VALUE SPATES NAME ' CHART 3 . GOLD PRICE I N LONDON, AFTERNOON F I X I N G U . S . DOLLARS PER FINE OUNCE 4. \ AUG. 22 301.73 CALL MONEY RATES U . S . FEDERAL FUNDS OVERNIGHT E'JRO-DOLLAR DEPOSITS U . K . 2-DAY LOCAL AUTHORITY DEPOSITS CANADA GERMANY EURO-DM JAPAN FRANCE NETHERLANDS EURO-SWT<S FRANC AUG. AUG. AUG. AUG. AUG. AUG. AUG. AUG. JUNE AUG. 22 22 17 13 17 10 17 17 15 10 11.04 11.21 14.13 11 . 5 0 6.40 6.21 6.69 10.50 7.10 0.91 AUG. AUG. AUG. AUG. AUG. AUG. AUG. 22 22 22 22 22 22 22 10.81 7.06 7.00 11.88 14.03 1.65 8.81 AUG. AUG. AUG . AUG. AUG. AUG. 22 22 22 22 22 22 11.21 11.43 11.35 11.63 11.54 11.16 OVERNIGHT EURO-DOLLAR DEPOSITS U . S . FEDERAL FUNDS DIFFERENTIAL ADJ. FOR RESERVE REQUIREMENTS AUG. 22 AUG. 22 AUG. 22 11 . 2 1 11 . 0 4 0 .17 3-MONTH EURO-DOLLAR DEPOSIT RATE U . S . 90-DAY C D ' S , SECONDARY MARKET DIFFERENTIAL AUG. 22 AUG. 22 AUG. 22 11 . 6 3 10 . 8 1 0 .82 CHART 5 . 3-MONTH INTEREST PATES U . S . 90-DAY C D ' S , SECONDARY MARKET GERMAN INTERBANK LOAN JAPANESE BANK LOANS C DISCOUNTS CANADIAN FINANCE PAPER INTERBANK STERLING SWISS INTERBANK LOAN WEIGHTED AVERAGE FOREIGN INTEREST RATE CG-10 COUNTRIES PLUS SWITZERLAND) 6. EURO-DOLLAR DEPOSIT RATES: LONDON OVERNIGHT 7-DAY 1-MONTH 3-MONTH 6-MONTH 1-YEAR CHART 7 . SELECTED EURO-DOLLAR AND U . S . MONEY MARKET RATES LAST VALUE PLOTTED DATE VALUE SERIES NAME CHART « . INTEREST ARBITRAGE, 3-MONTH FUNDS EURO-DOLLAR DEPOSIT INTERBANK STERLING ( L O N D O N ) , DIFFERENTIAL AUG. 2 2 AUG. 22 AUG. 22 1 1 ,. 6 3 1 1 .. 5 7 0,. 0 5 U . S . COMMERCIAL PAPER CANADIAN FINANCE PAPER, COVERED DIFFERENTIAL AUG. AUG. AUG. 22 22 22 1 0 ,. 5 3 11.. 5 6 - 1 ,,03 EURODOLLAR DEPOSIT INTERBANK DM ( F R A N K F U R T ) , COVERED DIFFERENTIAL AUG. 22 AUG. 22 AUG. 2? 1 1 .. 6 3 12.. 1 6 - 0 . .54 EURO-DOLLAR DEPOSIT SWISS INTERBANK, COVERED DIFFERENTIAL AUG. 22 AUG. 22 AUG. 22 11. . 6 3 1 1 .. 8 5 - 0 ..22 AUG. AUG. JUNE AUG. AUG. JULY JUNE JULY 9.00 7.51 8.07 3.53 9.94 10.83 8.81 10.39 CHART 9 . LONG TERM GOVERMENT BOND Y I E L D S UNITED STATES GERMANY JAPAN (MONTHLY) SWITZERLAND CANADA FRANCE NETHERLANDS UNITETF KINGDOM U.S. 17 17 10 10 6 15 27 CORPORATE AAA BONDS EURO-DM BONDS EURO-DOLLAR BONDS CHART 1 0 . COVERED INDUSTRIAL UNITED STATES JAPAN CANADA FRANCE UNITED KINGDOM SWITZERLAND GERMANY JULY DEC. JUNE 9.20 6.63 8.79 STOCK INDICES A'JG. JULY DEC. JULY AUG. JULY AUG. 17 20 29 13 3 13 17 111.55 290.39 113.81 133.90 108.98 77.22 98.97 FEDERAL RESERVE statistical reled@ H.10(512) AUGUST ? 8 » FOREIGN EXCHANGE RATES FOR THE WEEK ENDING AUGUST 2 4 , 1979 1979 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 AUG. 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 112.7400 7.46826 3.40600 85.5140 18.9484 26.0654 23.4604 54.5941 12.5000 205.1000 0.12217 0.46002 46.3499 4.3821 49.6894 101.0800 19.8590 2.0296 119.4500 1.5135 6.4900 23.6239 60.21*2 222.1500 20 AUG. 21 (RATE U . S . AUG. 112.7400 7.46826 3.40600 85.8148 18.9501 26.1369 23.4521 54.5554 12.5000 205.0000 0.12214 0.45903 46.3499 4.3821 49.6771 101.1000 19.8570 2.0305 119.4500 1.5135 6.4800 23.6434 6 0 . 25<H 221.0500 CENTS) 22 112.5600 7.47105 3.41006 85.6458 18.9501 26.1712 23.4676 54.5911 12.5000 205.5000 0.12229 0.45558 46.2856 4.3821 4*3. "*142 101.0500 19.8610 2.0313 119.4000 1.5138 6.4800 23.6407 60. 2664 221.7900 AUG. 23 112.8200 7.47384 3.41297 85.8738 18.9609 26.0484 23.4797 54.6747 12.5000 206.0500 0.12225 0.45637 46.3392 4.3821 49.8132 101.2000 19.8590 2.0313 11°.4000 1.5138 6.4800 ?3.6630 60.3573 222.2000 AUG. 24 112.7400 7.48223 3.412°7 85.6898 18.9861 26.0451 23.4797 54.7046 12.3800 206.4000 0.12241 0.45610 46.3714 4.3821 49.8380 101.0000 19.8827 2.0292 119.4000 1.5133 6.4800 23.6770 60.4157 223.2000
@FedFRASER