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A / LIBRARY '^ASSBB Selected Interest & Exchange Rates Weekly Series of Charts . December 18,1978 Prepared by the FINANCIAL MARKETS SECTION DIVISION OF INTERNATIONAL FINANCE BOARD OF GOVERNORS FEDERAL RESERVE SYSTEM Washington, D C. 20551 Index SUBSCRIPTION RATES: 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. TABLES 1-6 7, 8 SECURITY VOLUME AND YIELDS STOCK MARKET AND SECURITY CREDIT 9 - 1 6 MORTGAGE MARKET SYMBOLS e p r ESTIMATE PRELIMINARY REVISED n.a. NOT AVAILABLE DATA DO NOT EXIST 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=100 120 120 100 FOREIGN CURRENCY PRICE OF U.S. DOLLAR - 100 - 80 CANADIAN DOLLAR 80 11 120 160 140 FRENCH FRANC - GERMAN MARK - 120 i 100 i T 11111111111 ^ Ill, I h i l l I — 150 130 Jrv^vx-- JAPANESE YEN SWISS FRANC J V 110 100 - - — W ^ 90 80 220 180 — 160 - 140 - 120 " i M I l M I,, |,7 I I| II| I| | | | l I I 150 BELGIAN FRANC 130 - — V 0 A — i i i 90 110 I I I I I II II II I I I I I I I 11111111111 90 I ill I 110 — 90 U.K. ROUND 90 .A, 70 110 ^ 110 # I I . DUTCH GUILDER - 0 I — 150 130 ~ l I I I I I I II I I I I I I I I I I I I I I ITALIAN LIRA - - + . I I 1976 I I I 11111111111 I I II 50 II 1978 70 1976 1978 CHART 2 3-MONTH FORWARD EXCHANGE RATES PREMIUM (+) OR ( - ) AVERAGES FOR WEEK ENDING WEDNESDAY PER PER CENT PER ANI ENT PER ANNUM — 6 ITALIAN LIRA CANADIAN DOLLAR + * 0 - ill 6 6 DUTCH GUILDER U. K. POUND + 0 6 12 18 12 6 SWISS FRANC GERMAN MARK + 0 6 FRENCH FRANC + 0 JAPANESE YEN 6 12 1976 1978 1976 1978 CHART 3 PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY DOLLARS PER FINE OUNCE U.S. DOLLARS PER FINE I 12.5 Kg BARS AFTERNOON FIXING PRICE I I I II 1975 1976 I I i I I 1977 1978 CHART 4 CALL MONEY RATES WEEKLY SERIES PER PER CENT PER Ah ENT PER ANNUM , 12 U.S. FEDERAL FUNDS - 8 4 \f] JAPAN - OVERNIGHT EURO-DOLLARS I 0 I I II I I ! I I I I I I 16 FRANCE 12 - 8 VI \*/L ~ U.K. 2-DAY LOCAL AUTHORITY - 4 0 I I I i i i 12 CANADA NETHERLANDS 8 4 0 12 8 EURO-SWISS FRANC GERMANY 4 + 0 EURO-DM 4 1976 1978 1976 1978 CHART 5 3-MONTH INTEREST RATES WEEKLY SERIES PER CENT PER ANNUM PER CENT PER ANNUM 12 «— CANADIAN FINANCE CO. PAPER WEIGHTED AVERAGE FOREIGN RATE 8 4 16 16 12 JAPANESE BANK LOANS AND DISCOUNTS 8 U.K. INTERBANK STERLING 4 10 SWISS INTERBANK RATE 6 GERMAN INTERBANK RATE 1976 1978 CHART 6 EURO-DOLLAR DEPOSIT RATES LONDON AVERAGES FOR WEEK ENDING WEDNESDAY PER PER CENT PER AL :ENT PER ANNUM 10 3-MONTH OVERNIGHT 6 f 2 10 6-MONTH J 7-DAY ~ 6 - 2 1-YEAR 10 1-MONTH 6 I IIlllll III 2 1976 1978 1976 1978 e * # CHART 7 SELECTED EURO-DOLLAR AND U. S. MONEY MARKET RATES AVERAGES FOR WEEK ENDING WEDNESDAY PER CENT PER ANNUM PER CENT PER ANNUM FEDERAL FUNDS 3-MONTH DASHED LINE EURO-DOLLAR DEPOSITS OVERNIGHT EURO-DOLLAR DEPOSITS 9 0 - D A Y CD S Z X Z DASHED LINE I IIIIIIIIIIIIIIIIIIIIII DIFFERENTIAL ADJUSTED FOR RESERVE DIFFERENTIAL REQUIREMENTS ADJUSTED FOR RESERVE REQUIRMENTS I IIIIIIIIIIII 1976 FAVORS BORROWING IN U . S . IF POSITIVE 1978 1976 1978 CHART 8 INTEREST ARBITRAGE: 3-MONTH FUNDS DIFFERENTIAL: PLUS(+), INDICATES FAVOR DOLLAR ASSETS AVERAGES FOR WEEK ENDING WEDNESDAY PER ENT PER ANNUM PER CENT PER M 12 INTERBANK DM 8 COVERED FRANKFURT EURO-DOLLAR DEPOSITS 4 DASHED LINE + 0 INTERBANK STERLING COVERED LONDON 8 — DIFFERENTIAL 4 DIFFERENTIAL - - + 0 I I I I — 14 AIV i 12 SWISS INTERBANK (SF) COVERED DASHED LINE 10 CANADIAN FINANCE CO. PAPER, COVERED JM 'i I~ I ! - I II __ COMMERCIAL PAPER 8 \ DASHED EURO- DOLLAR DEPOSITS r AJ 6 __ I / ** 4 + 0 2 DIFFERENTIAL 1976 V DIFFERENTIAL 1978 1976 1978 CHART 9 LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES . PER CENT PER ANNUM - PER CENT PER ANNUM \r\ 10 CANADA UNITED STATES - h j - - I I I iiliiliiln i i i JAPAN INDUSTRIAL \ - SWITZERLAND — I GERMANY I I UNITED KINGDOM FRANCE NETHERLANDS 11 U. S. CORPORATE MONTHLY U. S. A / V EURO-DOLLAR CORPORATE MONTHLY BONDS Aaa EURO-DM 1976 BONDS BONDS 1978 1976 1978 CHART 10 INDUSTRIAL STOCK INDEXES WEEKLY SERIES RATIO 1969= CALE )0 RATIO 196 140 120 UNITED STATES — 100 UNITED KINGDOM 80 - 60 320 280 - JAPAN 240 — 200 160 140 120 CANADA 100 SWITZERLAND 80 60 140 120 FRANCE GENERAL INDEX GERMANY 100 — 80 - I 60 1976 1978 I 1976 I 1978 LAST VALUE PLOTTED DATE VALUE SERIES NAME CHART L . 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 ITALIAN LIRA I N D I C E S , MARCH 1 9 7 3 GERMAN MARK JAPANESE YEN DUTCH GUILDER U . K . POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC BELGIAN FRANC ITALIAN LIRA DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. 13 DEC. 13 DEC. 13 DEC. 13 DEC. 13 DEC. 13 DEC. 13 DEC. 13 DEC. 13 U . S . DOLLAR GERMAN MARK JAPANESE YEN DUTCH GUILDER U . K . POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC BELGIAN FRANC ITALIAN LIRA 3—MONTH FORWARD EXCHANGE CANADIAN DOLLAR U . K . POUND GERMAN MARK FRENCH FRANC SWISS FRANC DUTCH GUILDER JAPANESE YEN ITALIAN LIRA 52,, 4 0 0 ,. 5 0 7 4 5 4 8 ,. 3 3 1 9 6 ,. 7 7 8 5 ,. 0 0 2 2 ,. 8 1 5 8 ,, 8 0 3,, 3 1 3 0 3 0 ,. 1 1 7 9 5 BASE RATES = 100 1GHTED AVERAGE EXCHANGE VALUE I N D I C E S , CHART 2 . 13 13 13 13 13 13 13 13 13 MAR 1 9 7 3 = 100 DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. , 1 4 7 ,, 4 1 1 3 2 ,. 8 7 1 3 8 , ,7 5 7 9 ,, 5 8 8 4 ,. 7 2 1 0 2 , .79 1 8 9 ,. 1 6 1 3 0 . .55 6 7 ,. 0 1 13 13 13 13 13 13 13 13 13 13 89,, 4 8 1 4 3 ,, 2 7 1 2 4 ,, 6 4 1 2 9 ,, 2 7 70,. 5 7 7 6 ,, 1 1 9 3 , ,53 1 7 6 ,, 0 8 1 2 0 , .75 5 9 ,. 1 4 13 13 13 13 13 13 13 13 0.78 -2.14 7.93 1.69 12.32 1.59 10.33 -3.90 PREMIUM OR DISCOUNT DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. LAST VALUE PLOTTED DATE VALUE SERIES NAME CHART 3 . GOLD PRICE U.S. 4. I N LONDON DOLLARS PER F I N E OUNCE DEC. EURO-DOLLAR DEPOSIT RATES: 9.79 9.92 11.88 8.40 3.50 3.46 4.63 6.63 7.50 0.13 DEC. DEC. DEC. DEC. DEC. DEC. DEC. 10.36 4.07 4.88 10.38 12.25 0.34 6.40 SELECTED EURO-DOLLAR AND U . S . * 13 13 13 13 13 13 9.92 10.13 10.68 11.33 1 1 . 71 11.48 DEC. 13 DEC. 13 DEC. 13 DEC. 13 DEC. 1 3 DEC. 13 9.92 9.79 0.13 11.33 10.36 0.05 DEC. DEC. DEC. DEC. DEC. DEC. MONEY MARKET RATES OVERNIGHT EURO-DOLLAR DEPOSITS U . S . FEDERAL FUNDS DIFFERENTIAL A D J . FOR RESERVE REQUIREMENTS 3-MONTH EURO-DOLLAR DEPOSIT RATE U . S . 90-DAY CD'S DIFFERENTIAL A D J . FOR RESERVE REQUIREMENTS 13 13 13 13 13 13 13 LONDON OVERNIGHT 7-DAY 1-MONTH 3-MONTH 6-MONTH 1-YEAR CHART 7 . DEC. 13 DEC. 13 8 DEC. DEC. 8 8 DEC. DEC. 8 DEC. 8 8 DEC. NOV. 17 8 DEC. 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 . 202.41 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 . 13 e SERIES NAME CHART 8 . LAST VALUE PLOTTED DATE VALUE INTEREST ARBITRAGE, 3-MONTH FUNDS EURO-DOLLAR DEPOSIT INTERBANK STERLING (LONDON), COVERED DIFFERENTIAL DEC. 13 DEC. 13 DEC. 13 11.33 10.11 1.21 U . S . COMMERCIAL PAPER CANADIAN FINANCE PAPER, COVERED DIFFERENTIAL DEC. 13 DEC. 13 DEC. 13 10.27 11.16 -0.89 EURO-DOLLAR DEPOSIT INTERBANK DM (FRANKFURT), COVERED DIFFERENTIAL DEC. 13 DEC. 13 DEC. 13 11.33 12.00 -0.68 EURO-DOLLAR DEPOSIT SWISS INTERBANK, COVERED DIFFERENTIAL DEC. 13 DEC. 13 DEC. 13 11.33 12.67 -1.34 DEC. 8 DEC. & NOV. NOV. 2 4 DEC. 8 NOV. 2 4 NOV. 17 DEC. 1 8.86 6.32 6.10 3.03 9.59 9+89 7.76 11.88 CHART 9 . LONG TERM GOVERMENT BONO YIELDS UNITED STATES GERMANY JAPAN (MONTHLY) SWITZERLAND CANADA FRANCE NETHERLANDS UNITED KINGDOM U . S . CORPORATE AAA BONDS EURO-OM 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. 10 NOV. 3 DEC. 1 NOV. 24 DEC. 1 98.34 292.07 105.32 124.28 115.84 71.31 104.29 FEDERAL H.10 RESERVE statistical DECEMBER 1 8 , FOREIGN EXCHANGE RATES FOR THE WEEK ENDING DECEMBER 1 5 , 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 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 MONETARY UNIT DEC. 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 113.8500 7.16461 3.32557 84.8900 18.5185 24.7586 22.8571 52.5679 12.0700 197.7000 0.11834 0.51020 45.6800 4.3860 48.5201 105.1000 18.5185 2.1345 115.0000 1.4027 6.4200 22.4215 59.0667 197.7000 11 DEC. 12 (RATE U . S . CENTS) D E C . 13 113.8500 7.17618 3.31895 85.0100 18.8947 24.7893 22.8545 52.4797 12.0700 197.2800 0.11831 0.50929 45.7900 4.3898 48.4496 105.0500 19.5236 2.1368 115.0000 1.4019 6.4200 22.5963 58.9275 197.2800 113.9500 7.15563 3 . 3 1 2 36 84.9200 .18.8679 24.7402 22.8650 52.4990 12.0700 197.6500 0.11772 0.50955 45.6500 4.3917 48.3910 105.3000 19.4552 2.1390 115.0000 1.3994 6.4200 22.5861 58.6338 19 7 . 6 5 0 0 DEC. . 14 114.0000 7.19942 3.32779 84.6100 18.9609 24.7525 22.9358 52.7510 12.0700 197.5500 0.11782 0.51138 45.7000 4.3917 48.6736 105.2500 19.5160 2.1390 115.0000 1.4023 6.4200 22.6680 59.2066 197.5500 DEC. 15 114.0300 7.21501 3.34113 84.6100 19.0060 24.8571 22.9806 52.8346 12.0700 197.9000 0.11810 0.51073 45.8700 4.3937 48.8400 105.2500 19.5561 2.1368 115.0000 1.4029 6.4200 22.7118 59.3472 197.9000
@FedFRASER