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Selected Interest & Exchange Rates Wsekly Series of Charts DECEMBER 20.1976 DIVISION OF INTERNATIONAL FINANCE Prepared by the FINANCIAL MARKETS SECTION BOARD OF GOVERNORS FEDERAL RESERVE SYSTEM Washington, D C. 206S1 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 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 a EURO-DOLLAR DEPOSIT RATES 7. SELECTED EURO DOLLAR AND U.S. MONEY MARKET RATES a INTEREST ARBITRAGE: 3-MONTH FUNDS 9. LONG-TERM GOVERNMENT BOND YIELDS 10. INDUSTRIAL STOCK INDEXES Chart 1 SPOT EXCHANGE RATES D O L L A R PRICES O F F O R E I G N CURRENCIES A N D W E I G H T E D A V E R A G E V A L U E S (DASHED LINE) A V E R A G E S FOR W E E K E N D I N G W E D N E S D A Y 120 CANADIAN DOLLAR FOREIGN CURRENCY PRICE OF U.S. D O L L A R 100 80 JAPANESE YEN 140 FRENCH FRANC 120 100 200 180 SWISS FRANC GERMAN MARK 160 140 120 100 160 DUTCH GUILDER BELGIAN FRANC 140 120 100 — U.K. POUND 120 I T A L I A N LIRA too X - N.\ ll - 80 \ \ y T \ r - - _ I I I I I I M I M I M 11 I 60 Chart 2 3-MONTH FORWARD EXCHANGE RATES PREMIUMS (+), OR DISCOUNT ( - ) AVERAGES FOR WEEK ENDING WEDNESDAY PER CENT PER ANNUM 6 CANADIAN DOLLAR - V. . - 1 1 1 I I 1 PER CENT PER ANNUM — SWISS FRANC U.K. POUND - - /v/V\ -J M i l M i l l \ i i i A 1 i A i a. i . . . GERMAN MARK JAPANESE YEN 2 per cent on scale equals 1 per cent on all others /"VW.vs: - i M I i i i 1 § of J a/ X DUTCH GUILDER FRENCH FRANC 6 Chart 3 PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY 210 12.5 Kg BARS Afternoon fixing price 150 90 60 30 1974 1976 Chart 4 CALL MONEY RATES WEEKLY SERIES PER CENT PER T IT PER ANNUM OVERNIGHT EURO-DOLLARS / J - JAPAN 5 0 U.S. FEDERAL FUNDS i M I i I I I I I I I I 20 U.K. 2 - D A Y LOCAL AUTHORITY FRANCE 15 10 " / 5 0 i i i I I I 15 10 NETHERLANDS CANADA 5 0 20 EURO-SWISS FRANC 15 GERMANY 10 5 0 EURO-DM 5 1 Chart 5 3-MONTH INTEREST RATES WEEKLY SERIES 12 UNITED STATES CD's CANADIAN FINANCE CO. PAPER 8 16 16 U.K. INTERBANK STERLING GERMAN INTERBANK RATE 12 8 4 I EURO-DOLLAR SWISS DEPOSIT RATE 10 6 JAPAN Monthly 1 1974 1976 1974 1976 Chart 6 EURO-DOLLAR DEPOSIT RATES London AVERAGES FOR WEEK ENDING WEDNESDAY PE PER CENT PER ANNUM NT PER ANNUM 16 16 OVERNIGHT 3-MONTH 12 8 4 16 6-MONTH 7-DAY 12 8 4 16 1-YEAR 12 - 8 4 "l 1 1 1 1 197% 1 Chart 7 SELECTED EURO-DOLLAR AND U.S. MONEY MARKET RATES AVERAGES FOR WEEK ENDING WEDNESDAY PER CENT PER ANNUM PER CENT PER ANNUM 15 15 3-MONTH Euro dollar deposits FEDERAL FUNDS OVERNIGHT Euro-dollar deposits 90 DAY CD's v \ 1 K W A DIFFERENTIAL Adjusted for reserve requirements DIFFERENTIAL Adjusted for reserve requirements I I I I I I 1974 Favors Borrowing in U.S. if Positive i i I i i i n 11111111111111 111 Chart 8 INTEREST ARBITRAGE: 3-MONTH FUNDS AVERAGES FOR WEEK ENDING WEDNESDAY DIFFERENTIAL: PLUS(+), INDICATES FAVOR DOLLAR ASSETS PE PER ANNUM PER CENT PER 20 2( 15 INTERBANK DM Covered Frankfurt INTERBANK STERLING Covered London 15 EURO-DOLLAR DEPOSITS 10 10 EURO-DOLLAR DEPOSITS 5 £ 0 0 DIFFERENTIAL U DIFFERENTIAL 5 5 10 10 15 CANADIAN FINANCE CO. PAPER, COVERED EURO-DOLLAR DEPOSITS 15 * SWISS DEPOSITS (SF) COVERED 10 5 10 5 U.S. COMMERCIAL PAPER 0 0 DIFFERENTIAL DIFFERENTIAL 5 5 1974 1976 1974 1976 \\ Chart 9 LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES ENT PER ANNUM CANADA 10 UNITED STATES 8 6 9 12 JAPAN \ Industrial 10 8 SWITZERLAND 7 5 GERMANY 6 3 14 18 UNITED KINGDOM 12 16 FRANCE 14 10 12 8 NETHERLANDS 6 10 4 8 12 12 U.S. CORPORATE Monthly 10 U S. CORPORATE Monthly /\ Euro-dollar bonds Aaa bonds 8 6 Euro-Dm bonds 10 8 , 6 Chart 10 INDUSTRIAL STOCK INDEXES WEEKLY SERIES 1969=100 180 UNITED STATES 60 300 100 UNITED KINGDOM JAPAN 200 35 j f 140 240 180 SWITZERLAND CANADA 60 180 FRANCE General Index 100 100 * GERMANY 60 45 45 1974 1976 1974 1976 SERIES NAME LAST VALUE PLOTTED DATE VALUE 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 . DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. 15 15 15 15 15 15 15 15 15 15 90.77 122.00 152.80 144.96 69.70 105.89 111.31 178.28 136.69 72.19 DEC. DEC. DEC. DEC. DEC. DEC. DEC. 15 15 15 15 15 15 15 -3.80 -10.47 0.04 -6.98 2.88 -1.96 -1.58 DEC. 15 135.79 3-MONTH FORWARD EXCHANGE RATES CANADIAN DOLLAR U . K . POUND GERMAN MARK FRENCH FRANC SWISS FRANC DUTCH GUILDER JAPANESE YEN CHART 3 . GOLD PRICE I N LONDON U.S. CHART 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 . DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. 15 15 10 10 10 3 10 10 3 3 4.68 4.69 14.88 8.78 4.60 4.97 7.00 10.31 6.64 0.26 DEC. DEC. OCT. DEC. DEC. DEC. DEC. 15 15 4.60 4.84 8.20 4.95 8.55 14.24 4.00 3-MONTH INTEREST RATES U . S . CD'S ( 6 0 - 8 9 DAYS) GERMAN INTERBANK LOAN JAPANESE COMPOSITE LOAN EURO-DOLLAR DEPOSIT CANADIAN FINANCE COMPANY PAPER INTERBANK STERLING SWISS DEPOSIT 15 15 15 15 LAST VALUE PLOTTER 1 DATE VALUE SERIES NAME CHART 6 . EURO-DOLLAR DEPOSIT RATES: LONDON 15 15 15 15 15 15 4.69 4.58 4.76 4.95 5.18 5.48 15 15 15 15 15 15 4.69 4.68 0.21 4.95 4.60 0.27 EURO-DOLLAR DEPOSIT INTERBANK STERLING (LONDON), COVERED DIFFERENTIAL DEC. 15 DEC. 15 DEC. 15 4.95 3.77 1.18 U . S . COMMERCIAL PAPER CANADIAN FINANCE CO. PAPER, COVERED DIFFERENTIAL DEC. 15 DEC. 15 DEC. 15 4.65 4.75 -0.10 EURO-DOLLAR DEPOSIT INTERBANK DM (FRANKFURT), COVERED DIFFERENTIAL DEC. 15 DEC. 15 DEC. 15 4.95 4.88 0.07 EURO-DOLLAR DEPOSIT SWISS DEPOSIT ( S F ) , COVERED DIFFERENTIAL DEC. 15 DEC. 15 DEC. 15 4.95 6.88 -1.93 DEC. DEC. DEC. DEC. DEC. DEC. OVERNIGHT 7-DAY 1-MONTH 3-MONTH 6-MONTH 1-YEAR 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 . CD'S ( 6 0 - 8 9 DAYS) DIFFERENTIAL A D J . FOR RESERVE REQUIREMENTS 8. DEC. DEC. DEC. DEC. DEC. DEC. INTEREST ARBITRAGE, 3-MONTH FUNDS SERIES NAME CHART 9 . LAST VALUE PLOTTED DATE VALUE LONG TERM GOVERNMENT BOND YIELDS UNITED STATES GERMANY JAPAN (MONTHLY) SWITZERLAND CANADA FRANCE NETHERLANDS UNITED KINGDOM DEC. DEC. NOV. DEC. DEC. NOV. DEC. DEC. 10 10 3 10 26 3 3 6«, 8 8 7.22 8 ., 8 0 4 ,, 4 1 8«, 8 0 1 0 ,, 7 0 7.71 14.69 U . S . CORPORATE AAA BONDS EURO-DM BONDS EURO-DOLLAR BONDS OCT. OCT. OCT. 8.32 . 7.15 * 7,82 CHART 1 0 . INDUSTRIAL STOCK INDEXES UNITED STATES JAPAN CANADA FRANCE UNITED KINGDOM SWITZERLAND GERMANY DEC. NOV. NOV. NOV. DEC. DEC. DEC. 10 26 26 19 10 3 10 107,. 9 4 2 3 0 .. 2 3 87.01 89., 5 2 7 8 ., 6 3 67.28 90.76 FEDERAL H.10 RESERVE s t a t i s t i c a l DECEMBER 2 1 , FOREIGN EXCHANGE RATES FOR THE WEEK ENDING DECEMBER 1 7 , r e l e a s e 1976 197b 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 PESATA RUPEE KRONA FRANC POUND 104.9700 5.87000 2.73230 97.8700 17.0600 26.2800 20.0400 41.7300 11.4000 168.3500 0.11550 0.33930 39.4900 4.8800 40.0200 90.9000 19.1200 3.1600 115.0000 1.4641 11.2000 23.9600 40.7700 168.3500 13 DEC. 1 4 (RATE U . S . CENTS) D E C . 15 105.2000 5.88000 2.73580 98.2800 17.0800 26.3000 20.0400 41.7800 11.4000 167.5000 0.11550 0.33860 39.5300 4.9000 40.0700 91.4500 19.1100 3.1600 115.0000 1.4631 11.2000 23.9600 40.7500 167.5000 104.9500 5.88000 2.73500 98.4100 17.0500 26.3000 20.0400 41.7700 11.4000 166.7500 0.11550 0.33930 39.5900 4.5500 40.1000 91.2200 19.1200 3.1600 115.0000 1.4628 11.2000 23.9700 40.7500 166.7500 DEC. 16 104.9500 5.90000 2.74730 98.4600 17.1300 26.3000 20.0400 41.9200 11.4000 166.3000 0.11550 0.33840 39.6800 4.9200 40.2000 91.0000 19.1600 3.1600 115.0000 1.4622 11.2000 24.0200 40.8200 166.3000 bEC. 17 105.7000 5.90000 2.74250 98.4600 17.1200 26,3300 20.0300 41*9300 11.3500 167.1000 0.11550 0.33940 39.6800 4.9500 40.2200 91.6000 19.1600 3.1600 115.0000 1.4609 11.2000 24.0200 40.8000 167.1000
@FedFRASER