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S - n o $s Selected Interest & Exchange Rates Weekly Series of Charts # December 11,1978 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 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 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 AATK) SCALE MARCH 1973x100 120 100 - FOREIGN CURRENCY PRICE OF U.S. DOLLAR CANADIAN DOLLAR J_1 160 — FRENCH FRANC 140 - GERMAN MARK - - 120 — 100 I I l M I I 11111111111 11111111117 " i i i I I Mini,,1,7 I 150 130 110 JAPANESE YEN - KJ] - SWISS FRANC / 7 " V Jfc/Wy - __ — 90 # I 150 — 130 - I I I . I I M I I I I I I I 17 I DUTCH GUILDER — I M ii I ii M i l l i i BELGIAN FRANC — 110 — i 90 110 i i I I I nli,I,ill. n l i l l 11 I n — 1 1 1 1 1 i i iiiiiiiiin —— - U.K. POUND 90 kA- S M - • * i 70 ITALIAN LIRA - i i i I I 1976 11 ll!II11 I I 1976 1976 1978 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 24 6 6 + 0 DUTCH GUILDER U. K. POUND 6 12 16 16 12 6 SWISS FRANC GERMAN MARK 0 6 FRENCH FRANC 0 JAPANESE YEN 6 12 1976 1976 1976 1976 CHART 3 PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY U.S. DOLLARS PER FINE OUNCE U.S. DOLLARS PER FINE OUNCE 240 220 240 - 200 180 - - 220 - 200 - 180 - 160 12.5 Kg BARS AFTERNOON FIXING PRICE 160 - 140 140 120 120 100 100 1975 1976 1977 1976 CHART 4 CALL MOtiEY RATES WEEKLY SERES PER CENT PER ANNUM PER CENT PER ANNUM U.S. FEDERAL FUNDS — ul JAPAN - OVERNIGHT EURO-DOLLARS 1 1 1 1 1 1 ii III h i l l i 16 FRANCE 12 " n 8 U.K. 2-DAY LOCAL AUTHORITY - - 1 1 1 i i i MIMIMI, mImImIm 12 CANADA NETHERLANDS L Ah 8 4 0 - - I I I I I I lllllll.ll, , 11,1 12 EURO-SWISS FRANC GERMANY EURO-DM I iuliiliilu 1976 1978 1976 1976 4 0 CHART 5 3-MONTH INTEREST RATES WEEKLY SERES ENT PER ANNUM PER CENT PER Ah 12 CANADIAN FINANCE CO. PAPER WEIGHTED AVERAGE FOREIGN BATE 8 U.S. CD S 4 16 12 JAPANESE BANK LOANS AND DISCOUNTS 8 U.K. INTERBANK STERLING 4 SWISS INTERBANK RATE : n „ //Va \A GERMAN INTERBANK RATE J I 1976 1978 l I l I 1976 I Illllllllll 4 \ illllllllll 1978 + 0 CHART 6 EURO-DOLLAR DEPOSIT RATES LONDON AVERAGES FOR WEEK ENDING WEDNESDAY PER PER CENT PER ANN NT PER ANNUM 10 ) 3-MONTH OVERNIGHT - 6 I 2 I I I I 11111111111 n l i i l t i l i i I 10 6-MONTH 7-DAY J — 6 - I 2 I li I 10 - I I I I I 1-YEAR 1-MONTH A J — 6 - 2 I I I I 1976 I 1978 I 1976 I 1978 CHART 7 SELECTED EURODOLLAR AND U. S. MONEY MARKET RATES AVERAGES FOR WEEK ENDING WEDNESDAY PER CENT PER ANNUM PER CENT PER ANNUM FEDERAL FUNDS 12 - 10 - 8 3-MONTH DASHED LINE FAVORS BORROWING — EURO-DOLLAR OVERNIGHT EURO-DOLLAR DEPOSITS I /X./ 111 I I I I I I I I I 90-DAY CO'S DASHED LINE I 4 2 DFFEREIWIAL DIFFERENTIAL ADJUSTED FOR RESERVE REQUIREMENTS ADJUSTED FOR RESERVE REQUIRMENTS - 1 0 I IIIIIIIIIIIIIII 1 IN U. S. IF POSITIVE 1978 i 1976 n l n l 1978 CHART 0 INTEREST ARBITRAGE: 3-MONTH FUNDS DIFFERENTIAL: PLUS(+), INDICATES FAVOR DOLLAR ASSETS AVERAGES FOR WEEK ENDING WEDNESDAY PER ENT PER ANNUM PER CENT PER AN 14 12 EURO-DOLLAR DEPOSITS ' 12 INTERBANK DM COVERED FRANKFURT 8 10 EURO-DOLLAR DEPOSITS DASHED LINE 4 8 hVx/V + 0 INTERBANK STERLING COVERED LONDON 6 I I I I I I I 8 4 2 DIFFERENTIAL DIFFERENTIAL 4 + 0 0 !i 2 14 14 12 12 SWISS INTERBANK (SF) COVERED DASHED LINE 10 CANADIAN FINANCE CO. PAPER, COVERED 10 I /_ U.S. COMMERCIAL PAPER EURO-DOLLAR DEPOSITS DASHED 8 8 8 6 4 4 0 2 w DIFFERENTIAL 0 DIFFERENTIAL I 1978 + Z y v zA A A A^V\/AA^* yuVv v f i Wv^AA* v/*M/ K 1978 I I 1 1 M 1976 2 i M i M111111 1978 CHART 9 LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES PER CENT PER ANNU PER ANNU* — — 1( CANADA UNITED STATES K — J - 8 I I I I I Mlnh.l,, I i ill i h i l l i 6 8 JAPAN INDUSTRIAL & SWITZERLAND 4 2 GERMANY i i i 18 in 16 UNITED KINGDOM FRANCE 14 12 NETHERLANDS 10 8 U.S. CORPORATE MONTHLY U.S. CORPORATE MONTHLY 9 EURO-DOLLAR BONDS \^Z Asa BONDS 7 EURO-DM BONDS 5 LLLU 1976 1978 1976 1970 CHART 10 INDUSTRIAL STOCK INDEXES WEEKLY SERIES RATIO SCALl 1969=10 RATIO SCALE 1969=100 200 140 120 - UNITED STATES - - 100 - A/ f ^ 160 V^- 120 UNITED KINGDOM 80 — - I 60 320 — 280 - 240 - I I I I I 100 , , , , 80 isS - JAPAN 60 - yvw^v/ - 200 - 40 - 100 - 80 — 60 160 I I I I I I — 140 — — 120 — - - CANADA / 100 — SWITZERLAND - 80 - - I 60 A I I I I I l l I 1 1 1 1,1,, n i l , i , , | | | | | , l l | 140 120 J - a ^ 100 - FRANCE GENERAL INDEX —p f - 80 60 I I 1 1 1 1 1976 nliiliilii 1978 1976 1978 50 SERIES NAME LAST VALUE PLOTTED DATE VALUE APT 1 . SPOT EXCHANGE RATES AND INDICES 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 INDICES, DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. 6 6 6 6 6 6 6 6 6 52.02 0.50330 47.88 194.62 85.35 22.62 58.15 3.28435 0.11735 DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. 6 6 6 b 6 6 6 6 6 120.12 131.78 137.45 78.72 85.06 101.93 187.09 129.42 66 . 6 6 6 6 6 6 6 6 6 6 6 6 90.11 142.94 124.26 128.73 70.14 76.90 93.23 175.08 120.34 59.17 6 6 6 6 6 6 6 6 1.01 -2.34 8.14 1 .87 12.25 1.73 10.32 -4.18 MARCH 1973 BASE RATES = 100 GERMAN MARK JAPANESE YEN DUTCH GUILDER U . K . POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC BELGIAN FRANC ITALIAN LIRA WEIGHTED AVERAGE EXCHANGE VALUE INDICES, MAR 1973 = 100 U . S . 9CLLAR 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 DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. CHART 2 . 3-MONTH FORWARD EXCHANGE RATES, PREMIUM OR DISCOUNT CANADIAN DOLLAR U . K . POUND GERMAN MARK FRENCH FRANC SWISS FRANC DUTCH GUILDER JAPANESE YEN ITALIAN LIRA DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. LAST VALUE PLOTggC# DATE VALUE^ SERIES NAME CHART 3 . GOLD PRICE IN LONDON U.S. CHART 4 . DOLLARS PER FINE OUNCE DEC. 6 195.99 DEC. DEC. DEC. NOV. DEC. NOV. DEC. DEC. NOV. NOV. 6 6 1 24 1 24 1 1 17 24 9«.87 9 .,97 11..63 9<,25 3..45 2,,50 4.,25 6,.63 7..50 0,.03 DEC. DEC. DEC. DEC. DEC. DEC. DEC. 6 6 6 6 6 6 6 10.37 3.87 4.88 10.36 12.13 0.25 6.24 DEC. DEC. DEC. DEC. DEC. DEC. 6 6 6 6 6 6 9.97 9.84 10.94 11.56 11.88 11.64 6 6 6 6 6 6 9.97 9.87 0.10 11.56 10.37 0.29 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 . 3-MONTH INTEREST RATES U . S . 90-DAY CD'S GERMAN INTERBANK LOAN JAPANESE BANK LOANS & DISCOUNTS CANADIAN FINANCE PAPER INTERBANK STERLING SWISS INTERBANK LOAN WEIGHTED AVERAGE FOREIGN INTEREST RATE CHART 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 OVERNIGHT EURO-DOLLAR DEPOSITS U . S . FEDERAL FUNDS DIFFERENTIAL ADJ. FOR RESERVE REQUIREMENTS 3-MONTH EURO-DOLLAR DEPOSIT RATE U . S . 90-DAY CD'S DIFFERENTIAL ADJ. FOR RESERVE REQUIREMENTS DEC. DEC. DEC. DEC. DEC. DEC. # SERIES NAME CHART 8 . LAST VALUE PLOTTED DATE VALUE INTEREST ARBITRAGE, 3-MONTH FUNDS EURO-DOLLAR DEPOSIT INTERBANK STERLING (LONDON), COVERED DIFFERENTIAL DEC. DEC. DEC. 6 6 6 11.56 9.78 1.78 U . S . COMMERCIAL PAPER CANADIAN FINANCE PAPER, COVERED DIFFERENTIAL DEC. DEC. DEC. 6 6 6 10.25 11.37 -1.12 EURO-DOLLAR DEPOSIT INTERBANK DM (FRANKFURT), COVERED DIFFERENTIAL DEC. DEC. DEC. 6 6 6 11.56 12.01 -0.44 EURO-DOLLAR DEPOSIT SWISS INTERBANK, COVERED DIFFERENTIAL DEC. DEC. DEC. 6 6 6 11.56 12.50 -0.94 DEC. NOV,. OCT. NOV. NOV. NOV. NOV. DEC. 1 24 8,.85 6,.23 6,.06 3,.04 9,.53 9,.89 7,.76 11,.88 CHART 9 . LONG TERM GOVERMENT BOND YIELDS UNITED STATES GERMANY JAPAN (MONTHLY) SWITZERLAND CANADA FRANCE NETHERLANDS UNITED KINGDOM 17 24 24 17 1 U . S . CORPORATE AAA BONDS EURO-DM BONDS EURO-DOLLAR BONDS CHART 1 0 . OCT. OCT. OCT. 8.89 6.61 8.50 INDUSTRIAL STOCK INDICES UNITED STATES JAPAN CANADA FRANCE UNITED KINGDOM SWITZERLAND GERMANY DEC. 1 NOV. 10 NOV. 3 NOV. 3 DEC. 1 NOV. 24 NOV. 24 98 . 3 4 292 . 0 7 106 . 8 1 124 . 2 8 115 . 8 4 71 . 3 1 105 . 6 0 » # # F E D E R A L H.10 * # R E S E R V E * # statistical DECEMBER l i t FOREIGN EXCHANGE RATES FOR THE WEEK ENDING DECEMBER 8, release 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: COUNTRY ^ MONETARY UNIT DEC. 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 113.4500 7.12504 3.27547 85.2400 18.5048 24.6184 22.5734 52.1921 12.2300 194.7000 0.11723 0.50594 45.0800 4.3879 47.7281 104.4500 19.3069 2.1299 115.0000 1.3968 6.4000 22.4366 58.4283 194.7000 4 DEC. 5 (RATE U . S . CENTS) DEC. 6 113.3500 7.09471 3.29924 85.3500 18.6637 24.5821 22.6886 52.1376 12.2300 195.1200 0.11723 0.50633 45.3300 4.3879 48.1696 104.6500 19.4344 2.1195 115.0000 1.3947 6.4000 22.5174 58.5309 195.1200 113.6800 7.12124 3.30033 85.2500 18.7547 24.6460 22.7298 52.1785 12.2300 195.1000 0.11754 0.50620 45.4100 4.3898 48.0538 104.6500 19.5065 2.1268 115.0000 1.3978 6.4000 22.5810 58.5480 195.1000 DEC. 7 113.4500 7.11744 3.30251 85.0900 18.7441 24.6518 22.7144 52.1812 12.2300 195.1500 0.11754 0.50340 45.4200 4.3898 48.1001 104.7000 19.4344 2.1322 115.0000 1.3978 6.4000 22.5581 58.5995 195.1500 DEC. 8 113.4200 7.11238 3.30578 85.1000 18.7688 24.6700 22.7609 5 2 . 2 849 12.2300 196.0500 0.11786 0.50480 45.4000 4.3898 48.1928 104.6000 19.4894 2.1331 115.0000 1.3996 6.4000 22.5708 58.7544 196.0500
@FedFRASER