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Selected Interest
Exchange Rates
Weekly Series of Charts
(
DECEMBER 15,1975
DIVISION OF
INTERNATIONAL FINANCE
Prepared by the
FINANCIAL MARKETS
SECTION
BOARD OF GOVERNORS
FEDERAL RESERVE SYSTEM
Washington, D C. 20551
-n
i/
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 RATESH.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 A N D WEIGHTED A V E R A G E VALUES (DASHED LINE)
AVERAGES FOR WEEK ENDING WEDNESDAY
100
FOREIGN CURRENCY
PRICE OF U.S. DOLLAR
90
80
140
FRENCH FRANC
120
100
I
I
I
I
I
I
I
200
-
-
180
160
SWISS FRANC
GERMAN MARK
1
140
Ji
V
E
r A r /
120
100
160
~ h T T 7
1 1 1
DUTCH GUILDER
1
1
1
mIMIMIM
lulnliilii
-
-
BELGIAN FRANC
140
a
/
V
J ~ ^
/
\
v
120
-\^~
c
100
1
1
1
1
1
120
1
1
111111111! 11 11111111111
ITALIAN LIRA
U.K. POUND
- . ,
v
100
\
X
-
/
1
80
1
1
1
1
1
1973
1
I I 1111 I I I 11
I
11 I I I 111 I I I
1975
Chart 2
3-MONTH FORWARD EXCHANGE RATES
PREMIUM (+), OR DISCOUNT ( - )
AVERAGES FOR WEEK ENDING WEDNESDAY
PER CENT
B I-*
CANADIAN DOLLAR
0
6
B
SWISS FRANC
U.K. POUND
0
B
12
12
GERMAN MARK
DUTCH GUILDER
6
0
6
6
FRENCH FRANC
JAPANESE YEN
2 per cent on scale equals
1 per cent on all others
0
6
12
24
1973
1975
1973
1975
Chart 3
PRICE OF GOLD IN LONDON
AVERAGES FOR WEEK ENDING WEDNESDAY
U8. DOLLARS PER FINE OUNCE
210
12.5 Kg BARS
_ Afternoon fixing price
180
150
120
90
60
30
1973
1975
Chart 4
CALL MONEY RATES
W E E K L Y SERIES
PER CENT PER ANNUM
15 |—
PER CENT PER ANNUM
OVERNIGHT
EURO-DOLLARS
15
JAPAN
10
J
-
U.S. F E D E R / L FUNDS
I
I
I
I
I
Ilhlhllll
I
5
0
20
—
U.K. 2 - D A Y LOCAL A U T H O R I T Y
-
FRANCE
k
-
A.
r
I
I
I
I
I
10
I
NETHERLANDS
CANADA
EURO-SWISS FRANC
GERMANY
EURO - D M
15
-
5
Illllllllll
0
Chart 5
3-MONTH INTEREST RATES
WEEKLY SERIES
12
CANADIAN FINANCE CO. PAPER
UNITED STATES CD's
8
4
lilL
16
{GERMAN INTERBANK RATE ~
U.K. INTERBANK
STERLING
12
8
4
14
EURO-DOLLAR
SWISS DEPOSIT RATE
10
JAPAN
Monthly
6
1973
1975
Chart 6
EURO-DOLLAR DEPOSIT RATES London
AVERAGES FOR VVEEK ENDING WEDNESDAY
PER
16
OVERNIGHT
3-MONTH
12
8
4
16
16
7-DAY
6-MONTH
12
8
16
16
1-MONTH
1-YEAR
12
8
1973
1975
1973
1975
Chart 7
SELECTED EURO-DOLLAR AND U.S. MONEY MARKET RATES
AVERAGES FOR WEEK ENDING WEDNESDAY
15 I
-
FEDERAL FUNDS
3-MONTH
Euro-dollar deposits
10
OVERNIGHT
Euro-dollar deposits
60-89 DAY CD'S
5
0
DIFFERENTIAL
Adjusted for reserve requirements
DIFFERENTIAL
Adjusted for reserve requirements
Favors Borrowing in U.S. if
1973
Positive
1975
1973
1975
Chart 8
INTEREST ARBITRAGE: 3-MONTH FUNDS
AVERAGES FOR WEEK ENDING WEDNESDAY
D I F F E R E N T I A L : PLUS (+), INDICATES F A V O R D O L L A R ASSETS
PEP
PER ANNUM
PER CENT PER
20
15
I N T E R B A N K DM,
Covered Frankfurt
E U R O - D O L L A R DEPOSITS
I N T E R B A N K STERLING
Covered London
-v ^
10
5
0
E U R O - D O L L A R DEPOSITS
DIFFERENTIAL
DIFFERENTIAL
5
10
15
" C A N A D I A N FINANCE CO. PAPER, COVERED
E U R O - D O L L A R DEPOSITS
10
5
U.S. COMMERCIAL PAPER
SWISS DEPOSITS (SF)
COVERED 1
0
DIFFERENTIAL
DIFFERENTIAL
11 I 11
5 I
1973
1975
1973
Chart 9
LONG-TERM GOVERNMENT BOND YIELDS
WEEKLY SERIES
9
UNITED STATES
CANADA
7
5
12
SWITZERLAND
GERMANY
10
/JAPAN
Industrial
8
6
14
18
UNITED KINGDOM
12
FRANCE
10
8
NETHERLANDS
6
4
12
U.S. CORPORATE
Monthly
U.S. CORPORATE
Monthly
Euro Dm bonds
10
a
Aaa bonds
Euro-dollar bonds
8
6
1973
1975
1973
1975
r
, z
Chart 10
INDUSTRIAL STOCK INDEXES
WEEKLY SERIES
1969=100
UNITED STATES
100
60
45
320
140
UNITED KINGDOM
JAPAN
240
100
80
35
180
180
CANADA
SWITZERLAND
100
60
60
45
45
180
180
FRANCE
General index
GERMANY
100
100
60
60
I I I I I I
45
1973
1975
1973
45
1975
D
SERIES
CHAR T
1,
SPUT
EXCHANGE
NAME
RATES
U . S . DOLLAR, WEIGHTLD
J A P A N E S E YEN
GERMAN MARK
DUTCH G U I L D E R
U . K . POUND
C A N A D I A N DOLLAR
FRENCH FRANC
S W I S S FRANC
B E L G I A N FRANC
ITALIAN LIRA
CHART
L A S T VALUE PLOTTED
DATE
VALUE
2 o 3 - M O N T H FORWARD
AVERAGE
3.
GOLD
U.S.
CHART 4 .
PRICE
DOLLAR
CALL
IN
PER
5.
86.59
117.56
139.57
135.04
84.34
106.84
124.68
166.00
126.52
91.54
DEC.
DEC.
DEC#
DEC.
DEC.
DEC.
DEC.
10
10
10
10
10
10
10
-2.91
-4*61
2.52
-0.57
3.06
1.26
-1.46
DEC.
10
138.15
D E C . 10
D E C . 10
5
DEC.
OCT. 17
5
DEC,
5
DEC.
5
DEC.
5
DEC.
NOV. 28
5
DEC.
5.26
5 .26
10 . 8 8
7 .88
3.90
3.30
8 .00
6.50
4 .63
2 .86
DEC. 10
DEC. 10
OCT.
DEC. 10
D E C . 10
DEC. 10
DEC > 1 0
5.81
4.14
8.83
6.60
9.55
11.06
5.50
LONDON
FINE
OUNCE
MONEY R A T E S
U . S . FEDERAL FUNDS
OVERNIGHT EURO-DOLLAR DEPOSITS
U . K . 2 - D A Y LOCAL AUTHORITY DEPOSITS
CANADA
GERMANY
EURQ-DM
JAPAN
FRANCE
NETHERLANDS
E U R O - S W I S S FRANC
CHART
10
10
10
10
10
10
10
10
10
10
EXCHANGE R A T E S
C A N A D I A N DOLLAR
U . K . POUND
GERMAN MARK
FRENCH FRANC
S W I S S FRANC
DUTCH G U I L D E R
J A P A N E S E YEN
CHART
DEC.
DEC.
DEC.
DEC.
DEC.
DEC.
DEC.
DEC.
DEC.
DEC.
3-MONTH
INTEREST
RATES
U . S . C D ' S ( 6 0 - 8 9 DAYS)
GERMAN I N T E R B A N K LOAN
J A P A N E S E C O M P O S I T E LOAN
EURO-DOLLAR DEPOSIT
C A N A D I A N F I N A N C E COMPANY
INTERBANK STERLING
SWISS D E P O S I T
PAPER
SERIES
CHART
6.
EURODOLLAR
LAST VALUE PLOTTED
DATE
VALUE
NAME
DEPOSIT
RATES:
LONDON
OVERNIGHT
7-DAY
1-MUNTH
3-MONTH
6-MONTH
1-YEAR
7.
DEC.
DEC.
DEC.
DEC.
DEC.
DEC.
SELECTED EURO-DOLLAR
AND U . S .
MONEY MARKET
OVERNIGHT EURO-DOLLAR D E P O S I T S
U . S . F E D E R A L FUNDS
D I F F E R E N T I A L A D J . FOR R E S E R V E R E Q U I R E M E N T S
3 - M O N T H E U R O - D O L L A R 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 R E S E R V E R E Q U I R E M E N T S
8.
INTEREST
ARBITRAGE,
3-MONTH
EURO-DOLLAR DEPOSIT
INTERBANK STERLING ( L O N D O N ) ,
DIFFERENTIAL
U . S . C O M M E R C I A L PAPER
CANADIAN FINANCE C O . PAPER,
DIFFERENTIAL
EURO-DOLLAR DEPOSIT
I N T E R B A N K DM ( F R A N K F U R T ) ,
DIFFERENTIAL
EURO-DOLLAR DEPOSIT
SWISS D E P O S I T ( S F ) ,
DIFFERENTIAL
5.26
5.31
6.11
6.60
7.39
7.86
DcC.
DEC.
DEC.
DEC.
DEC.
DEC.
10
10
10
10
10
10
5.26
5.26
0.22
6 .60
5.61
0.70
DEC.
DEC.
DEC.
10
10
10
6.60
6.46
0.15
DEC.
DEC.
DEC.
10
10
10
5.93
6 .64
-0.71
DEC.
DEC.
DEC.
10
10
10
6.60
6 .66
—0 . 0 6
DEC.
DEC.
DEC.
10
10
10
6.60
6,56
-1.96
RATES
FUNDS
COVERED
COVERED
COVERED
COVERED
10
10
10
10
10
10
SERIES
CHART
9.
L A S T VALUE PLOTTED
DATE
VALUE
NAME
LONG TERM GOVERNMENT
BOND Y I E L D S
U N I T E D STATES
GERMANY
JAPAN (MONTHLY)
SWITZERLAND
CANADA
FRANCE
NETHERLANDS
U N I T E D KINGDOM
U.S.
DECe
NOV.
OCT.
NOV.
OCT.
NOV.
NOV.
NOV.
21
17
28
26
28
8.12
8.38
9.50
o.GO
9.52
9.97
7.66
14.70
CORPORATE
AAA BONDS
E U k Q - D M BONDS
E U R O - D O L L A R BONDS
10.
5
28
INDUSTRIAL
U N I T E D STATES
JAPAN
CANADA
FRANCE
U N I T E D KINGDOM
SWITZERLAND
GERMANY
STOCK
OCT.
OCT.
OCT.
8.86
8.10
8.80
INDEXES
DEC.
NOV.
NOV.
NOV.
NOV.
DEC.
NOV.
5
28
21
14
21
5
26
92.42
209 . 5 1
96 . 1 8
1 0 3 ,. 9 5
8 9 ,• 7 1
6 7 .• 8 1
9 5 ,* 3 3
FEDERAL
RESERVE
statistical
release
He10
DECEMBER
12,
19 7 5
FOREIGN EXCHANGE RATES
FOR THE WEEK E N D I N G
DECEMBER
12 t
1975
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 A F R I C A
SPAIN
S R I LANKA
SWEDEN
SWITZERLAND
U N I T E D KINGDOM
MONETARY
UNIT
DEC.
DOLLAR
SCHILLING
FRANC
DOLLAR
KRONE
MARKKA
FRANC
De MARK
RUPEE
POUND
LIRA
YEN
DOLLAR
PESO
GUILDER
DOLLAR
KRONE
ESCUDO
RAND
PtSATA
RUPEE
KRONA
FRANC
POUND
12 5 . 3 1 0 0
5.42000
2.53200
9 8 . 8 500
16.3100
25.8000
22.4700
38.1500
11.2000
202.3000
0.14670
0.32590
3 b.6600
8.0000
37.2300
103.7300
18.0100
3.7000
114.7500
1.6790
13.0500
22.6700
38.1500
202.3000
8
DEC.
9
(RAT E U . S .
DEC.
12 5 . 3 0 0 0
5.40000
2.52600
98.8000
16.3100
25.8200
22.4200
3 8 . 0 500
11.2000
202.2500
0.14630
0.32660
38.6600
8.0000
37.1300
103.7300
17.9800
3.7000
114.7500
1.6775
13.0500
22.6400
37.9600
202.2500
CENTS)
10
125.3000
5.40000
2.52550
9 8 . 7 500
16.2900
25.8200
22.4400
38.0600
11.2000
202.3000
0.14630
0.32670
38.6300
8.0000
37.1500
103.7100
17.9700
3.7000
114.7500
1.6771
13.0500
22.6600
37.9700
202.3000
DEC.
11
125.3000
5.40000
2.52090
96.64C0
16.2700
25.8600
22.4300
38.0400
11.2000
202.2000
0.14630
0.32690
38.6600
8.0000
37.1400
103.7300
17.9600
3.6800
114.7500
1.6770
13.0500
22.6400
37.9100
202.2000
DEC.
12
125.2500
5.38000
2.52500
98o3000
16 . 2 2 0 0
25.8400
22 . 4 1 0 0
37.9900
11.1500
201.8500
0.16620
0.32690
38.6600
8.0000
37.1200
103.7000
17.9300
3.6900
114.8000
1.6750
13.0500
22.6400
37.8900
201.6500
@FedFRASER