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Selected Interest & Exchange Rates Weekly Series of Charts DECEMBER 19,1977 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 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 AND WEIGHTED AVERAGE VALUES (THIN LINE) AVERAGES FOR WEEK ENDING WEDNESDAY RATIO SCALE MAY 1 9 7 0 PARITY=100 MAY RATIO SCALE 1 9 7 0 PARITY=100 120 CANADIAN DOLLAR 100 FOREIGN CURRENCY PRICE OF U.S. DOLLAR 90 x -"\ I 100 V~ 80 I I h M l n h i h i I " | | | lllll! i i l n 140 I l l l l l l l l l l 80 FRENCH FRANC JAPANESE YEN - 120 120 100 I I I I I I I h i h 100 ; iiliilnhi SWISS FRANC GERMAN MARK 160 160 140 140 120 - 160 160 DUTCH GUILDER A - 120 BELGIAN FRANC 140 140 _J^K/\ I J 120 I I S Z V ^ - X / Z L 120 - 100 I I I I I I - I I I 100 100 100 ITALIAN LIRA U.K. POUND 80 80 60 60 1975 1977 1975 1977 CHART 2 3-MONTH FORWARD EXCHANGE RATES PREMIUM (+) OR ( - ) AVERAGES FOR WEEK ENDING WEDNESDAY PEI CENT PER ANNUM 6 + /V\ CANADIAN DOLLAR 0 - 6 PER CENT PER ANNUM + 0 DUTCH GUILDER U. K. POUND 6 12 18 6 SWISS FRANC GERMAN MARK + 0 6 6 JAPANESE YEN 2 PER CENT ON SCALE EQUALS 1 PER CENT ON ALL OTHER + 0 FRENCH FRANC 6 12 1975 1977 1975 1977 CHART 3 PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY U.S. DOLLARS PER FINE OUNCE U.S. DOLLARS PER FINE OUNCE 200 200 180 180 - 12.5 Kg BARS 160 140 160 AFTERNOON FIXING PRICE - 120 100 140 - 120 100 - - 80 1975 1977 CHART 4 CALL MONEY RATES WEEKLY SERIES PER CENT PER PER CENT PER ANNUM ANNUM 16 16 U.S. FEDERAL FUNDS \nrv JAPAN 12 - — 4 OVERNIGHT EURO-DOLLARS I 16 I I i i i - HJ U.K. 2-DAY LOCAL AUTHORITY V - FRANCE I I I I I I I I 12 8 | || || ||| ||| NETHERLANDS CANADA - - - I I I I I I 20 16 12 - AJ 12 0 16 — I 4 - J 12 - 8 7" EURO-DM EURO-SWISS FRANC GERMANY 1975 8 1977 1975 1977 4 CHART 5 3-MONTH INTEREST RATES WEEKLY SERIES PER CENT PER ANN F PER ANNUM EURO-DOLLAR 12 CANADIAN FINANCE CO. PAPER 8 U.S. CD S 4 18 UX. INTERBANK STERLING 14 GERMAN INTERBANK RATE 10 6 4 JAPANESE BANK LOANS AND DISCOUNTS SWISS INTERBANK RATE 4 + 0 1975 1977 1975 1977 CHART 6 EURO-DOLLAR DEPOSIT RATES LONDON AVERAGES FOR WEEK ENDING WEDNESDAY PER CENT PER ANNUM PER CENT PER ANNUM — - OVERNIGHT J I 12 3-MONTH - - " i l l I I I 6-MONTH 1-MONTH 12 — 1-YEAR — " I I I I I 1975 I I IIIIIIIIII 1977 1975 1977 4 A # # # # # # CHART # # # # 7 SELECTED EURO-DOLLAR AND U. S. MONEY MARKET RATES AVERAGES FOR WEEK ENDING WEDNESDAY PER CENT PER PER CENT PER ANNUM 12 OVERNIGHT EURO-DOLLAR DEPOSITS 3-MONTH EURO-DOLLAR DEPOSITS 8 FEDERAL FUNDS DASHED LINE 90-DAY CD' S DASHED rJ LINE 4 DIFFERENTIAL ADJUSTED DIFFERENTIAL ADJUSTED FOR 1975 FAVORS BORROWING IN U . S . IF POSITIVE RESERVE FOR RESERVE REQUIREMENTS REQUIREMENTS 1977 1975 1977 ANNUM CHART 8 INTEREST ARBITRAGE: 3-MONTH FUNDS DIFFERENTIAL: P L U S M , INDICATES FAVOR DOLLAR ASSETS AVERAGES FOR WEEK ENDING WEDNESDAY PER CENT PER ANNUM |L' PER CENT PER ANNUM EURO-DOLLAR DEPOSITS 12 \/v, / INTERBANK STERLING INTERBANK DM COVERED LONDON COVERED FRANKFURT 6 EURO-DOLLAR DEPOSITS DASHED LINE DIFFERENTIAL DIFFERENTIAL I IIlllll III CANADIAN FINANCE CO. PAPER, I I I I I I 11111111111 u l u h i l i i COVERED EURO-DOLLAR DEPOSITS 12 - U.S. COMMERCIAL PAPER DASHED SWISS INTERBANK (SF) COVERED LINE DASHED LINE DIFFERENTIAL DIFFERENTIAL iiliiIi 1975 n 1977 J—I—I—I I 1975 I 1111111111 i l 111 i i 111 1977. 12 CHART 9 LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES PER PER CENT PER Af INT PER ANNUM CANADA 9 10 UNITED STATES 7 8 5 6 8 11 JAPAN INDUSTRIAL SWITZERLAND 6 9 GERMANY 7 4 2 18 13 16 11 UNITED KINGDOM FRANCE 9 14 7 12 NETHERLANDS 5 10 12 11 U.S. CORPORATE MONTHLY U. S . CORPORATE MONTHLY EURO-DOLLAR BONDS 10 9 Aaa BONDS 8 7 E U R O - D M BONDS 6 5 1975 1977 1975 1977 GHAST 10 INDUSTRIAL STOCK INDEXES WEEKLY SERIES RATIO S C A L E 1969-100 180 140 UNITED STATES 100 80 140 60 UNITED KINGDOM 360 100 280 JAPAN 60 200 160 40 120 35 180 120 100 140 SWITZERLAND CANADA 80 100 60 80 60 40 180 180 140 140 FRANCE GENERAL INDEX GERMANY 100 100 80 80 60 60 1975 1977 1975 1977 SERIES NAME CHART 1 . SPOT EXCHANGE RATES U . S . DOLLAR, WEIGHTED AVERAGE JAPANESE YEN GERMAN MARK DUTCH GUILDER U . K . POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC BELGIAN FRANC I T A L I A N LIRA CHART 2 . LAST VALUE PLOTTED DATE VALUE DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. 14 14 14 14 14 14 14 14 14 14 8 5 ,. 9 5 149.48 169,. 0 9 154. . 3 3 76.46 9 8 .. 7 4 115, .18 2 0 6 . .80 146 <. 5 0 71.28 DEC. DEC. DEC. DEC. DEC. DEC. DEC. 14 14 14 14 14 14 14 -0.12 0.29 3.31 —6.20 4.79 0.38 2.80 DEC. 14 159.19 DEC. 14 DEC. 14 DEC. 9 9 DEC. DEC. 9 9 DEC. DEC. 9 DEC. 9 DEC. 2 9 DEC. 6.49 6.76 6.25 7.20 3.90 3.68 5.00 9.38 4.69 1.54 DEC. DEC. DEC. DEC. DEC. DEC. DEC. 6.70 4.15 5.75 7.11 7.31 6.71 2.35 3-MONTH FORWARD EXCHANGE RATES CANADIAN DOLLAR U . K . POUND GERMAN MARK FRENCH FRANC SWISS FRANC DUTCH GUILDER JAPANESE YEN 3 . GOLD PRICE I N LONDON U.S. 4. DOLLAR PER FINE OUNCE 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 . C D ' S ( 6 0 - 8 9 DAYS) GERMAN INTERBANK LOAN JAPANESE BANK LOANS £ DISCOUNTS EURO-DOLLAR DEPOSIT CANADIAN FINANCE COMPANY PAPER INTERBANK STERLING SWISS INTERBANK LOAN 14 14 14 14 14 14 14 LAST VALUE PLOTTED DATE VALUE SERIES NAME CHART 6 . EURO-DOLLAR DEPOSIT RATES: LONDON OVERNIGHT 7-DAY 1-MONTH 3-MONTH 6-MONTH 1-YEAR CHART 7 . DEC. 14 DEC. 14 DEC. 14 DEC. 14 DEC. 14 DEC. 14 6.76 6.83 6.9( 7.11 7.46 7.51 SELECTED EURO-DOLLAR AND U . S . 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 . CD'S ( 6 0 - 8 9 DAYS) DIFFERENTIAL A D J . FOR RESERVE REQUIREMENTS DEC. 14 DEC. 14 DEC. 14 DEC. 14 DEC. 14 DEC. 14 6.76 6.49 0.55 7.11 6.70 0.25 DEC. 14 DEC. 14 DEC. 14 7 .. 1 1 7,. 0 1 0,. 1 1 U . S . COMMERCIAL PAPER CANADIAN FINANCE CO. PAPER, COVERED DIFFERENTIAL DEC. 14 DEC. L4 DEC. 14 6 . ,60 7<.19 - 0 , ,59 EURO-DOLLAR DEPOSIT INTERBANK DM (FRANKFURT), COVERED DIFFERENTIAL DEC. DEC. DEC. 14 14 14 7 ,, 1 1 7 . .46 - 0 , ,34 EURO-DOLLAR DEPOSIT SWISS INTERBANK, COVERED DIFFERENTIAL DEC. 14 DEC. 14 DEC. 14 7 ., 1 1 7 ., 1 4 - 0 . ,03 CHART 8 . INTEREST ARBITRAGE, 3-MONTH FUNDS EURO-DOLLAR DEPOSIT INTERBANK STERLING (LONDON) , DIFFERENTIAL COVERED SERIES NAME CHART 9 . LONG TERM GOVERNMENT BOND YIELDS UNITED STATES GERMANY JAPAN (MONTHLY) SWITZERLAND CANADA FRANCE NETHERLANDS UNITED KINGDOM U.S. LAST VALUE PLOTTED DATE VALUE 9 DEC. NOV. 25 NOV. NOV. 2 5 9 DEC. NOV. 2 5 2 DEC. DEC. 2 7.62 5.73 6.58 3.84 8.73 10.86 7.55 10.27 CORPORATE AAA BONDS EURO-OM BONDS EURO-DOLLAR BONDS HART 1 0 . 8.08 6.52 7.81 INDUSTRIAL STOCK INDEXES UNITED STATES JAPAN CANADA FRANCE UNITED KINGDOM SWITZERLAND GERMANY NOV. OCT. OCT. 9 DEC. DEC. 2 NOV. 25 NOV. 18 9 DEC. 9 DEC. 2 DEC. 95.60 242.29 84.87 87.93 115.75 77.72 98.78 .'OOF GOvA*. F E D E R A L R E S E R V E s t a t i s t i c a l r e l e a s e •"fw H . 10 FOREIGN EXCHANGE RATES FOR THE WEEK ENDING DECEMBER 1 6 , DECEMBER 1 9 , 1977 15 16 1977 The Board of Governors of the Federal Reserve System is advised that the Federal Reserve Bank of New York has cer t i f i ed for customs purposes the f o l l o w i n g noon buying rate in New York City for cable transfers payable in foreign currencies: (RATE U . S . CENTS) DEC. 14 COUNTRY^ MONETARY UNIT DEC. 12 DEC. 13 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 113.1000 6.38500 2.91950 91.2850 16.6200 24.0875 20.7050 46.0000 11.6000 183.0900 0.11382 0.41360 42.2400 4.4100 42.4700 100.1000 18.8400 2.4650 115.0000 1.2165 6.2000 20.8850 47.0900 183.0900 113.2500 6.47250 2.94750 90.9300 16.7500 24.1925 20.7850 46.4800 11.6000 184.0300 0.11410 0.41575 42.3500 4.4100 42.9250 100.1500 19.0550 2.4750 115.0500 1.2207 6.2000 20.9900 47.4800 184.0300 113.6500 6.53000 2.97440 91.1300 16.9000 24.2000 20.8500 46.8600 11.6000 184.7000 0.11455 0.42050 42.3000 4.4100 43.1000 100.7000 19.2000 2.5000 115.0500 1.2262 6.2000 21.0000 48.1200 184.7000 DEC. 113.3500 6.48500 2.95400 91.1500 16.7500 24.2600 20.8100 46.7000 11.6000 184.6500 0.11410 0.41820 42.3600 4.4100 43.0800 100.6000 19.0400 2.4775 115.0500 1.2262 6.2000 20.9700 48.3200 184.6500 DEC. 113.2500 6.50000 2.96600 91.1150 16.8600 24.2300 20.8700 46.7800 11.8000 185.4000 0.11415 0.41565 42.1900 4.4100 43.0500 100.4500 19.1500 2.4700 115.0000 1.2256 6.2000 20.9700 48.5500 185.4000
@FedFRASER