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I ' ti-v> Selected Interest & Exchange Rates Weekly Series of Charts DECEMBER 27, 1977 DIVISION OF INTERNATIONAL FINANCE Prepared by the FINANCIAL MARKETS SECTION BOARD OF GOVERNORS FEDERAL RESERVE SYSTEM Washington, D C. 20551 e 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 AND WEIGHTED AVERAGE VALUES (THIN LINE) AVERAGES FOR WEEK ENDING WEDNESDAY RATIO SCALE MAY 1 9 7 0 PARITY=100 RATIO SCALE MAY 1970 PARITY=100 CANADIAN DOLLAR FOREIGN CURRENCY PRICE OF U.S. DOLLAR FRENCH FRANC JAPANESE YEN SWISS FRANC GERMAN MARK DUTCH GUILDER BELGIAN FRANC - 120 100 — 100 100 ITALIAN LIRA U.K. POUND I 80 n 1 1 y I 1975 1977 I I I i 1975 I ^ 60 11111111111 1977 CHART 2 3-MONTH FORWARD EXCHANGE RATES PREMIUM (+) OR ( - ) AVERAGES FOR WEEK ENDING WEDNESDAY CENT PER ANNUM 6 CANADIAN DOLLAR + 0 - — 6 - - PER CENT PER ANNUM 4- 0 U. K. POUND DUTCH GUILDER GERMAN MARK SWISS FRANC 6 12 18 6 0 6 I i I 6 JAPANESE YEN 0 2 PER CENT ON SCALE EQUALS 1 PER CENT ON ALL OTHER 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 12.5 Kg BARS 160 AFTERNOON FIXING PRICE - 140 120 - 100 80 1975 1977 PER :NT PER ANNUM 16 U.S. FEDERAL FUNDS 12 8 4 OVERNIGHT EURO-DOLLARS 16 U.K. 2 - D A Y LOCAL AUTHORITY 12 8 4 12 CANADA 8 - 4 0 I I I I I I 20 16 12 8 EURO-DM GERMANY 4 + 0 4 1975 1977 CHART 5 3-MONTH INTEREST RATES WEEKLY SERIES PER CENT PER PER CENT PER ANNUM EURO-DOLLAR 12 CANADIAN FINANCE CO. PAPER 8 4 14 U.K. INTERBANK STERLING GERMAN INTERBANK RATE JAPANESE BANK LOANS AND DISCOUNTS 1975 1977 SWISS INTERBANK RATE 1975 1977 CHART 6 EURO-DOLLAR DEPOSIT RATES LONDON AVERAGES FOR WEEK ENDING WEDNESDAY PER CENT PER ANNUM PER CENT PER ANNUM 3-MONTH OVERNIGHT — - J - I ! I I I I I I I I ! 7-DAY 6-MONTH 1-MONTH 1-YEAR 1975 1977 1975 1977 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 12 OVERNIGHT EURO-DOLLAR DEPOSITS 3-MONTH EURO-DOLLAR DEPOSITS 8 FEDERAL FUNDS DASHED LINE v 90-DAY CD'S rJ DASHED LINE 4 DIFFERENTIAL ADJUSTED DIFFERENTIAL ADJUSTED FOR RESERVE REQUIREMENTS FOR RESERVE REQUIREMENTS + 0 1975 FAVORS BORROWING IN U. S. IF POSITIVE 1977 1975 1977 CHART 8 INTEREST ARBITRAGE: 3-MONTH FUNDS DIFFERENTIAL: PLUS(+). INDICATES FAVOR DOLLAR ASSETS AVERAGES FOR WEEK ENDING WEDNESDAY PER CENT PER ANNUM PER CENT PER ANNUM fy' EURO-DOLLAR DEPOSITS IIM 12 - V/V, / I f ' L P \ r INTERBANK STERLING COVERED LONDON I v L v l i I INTERBANK DM COVERED FRANKFURT — W l r\ 6 fv7l / w I -; j\J — EURO'-DOLLAR DEPOSITS DASHED LINE - — DIFFERENTIAL DIFFERENTIAL I I I I I I I I I I I I I l l I I I I I I I i I I II CANADIAN FINANCE CO. PAPER, 11 i 11111111 n i l H i l l ii COVERED EURO-DOLLAR DEPOSITS 12 12 U.S. COMMERCIAL PAPER SWISS INTERBANK (SF) COVERED DASHED LINE DASHED LINE DIFFERENTIAL DIFFERENTIAL 11 1975 I i l l 111 i l l 11 1977 I I I I I I I I I II I I L 1975 l i l l 1977 CHART 9 LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES PER CENT PER ANNUM PER CENT PER ANNUM — CANADA 10 /A UNITED STATES V jI I I — l l l l l l l l l l l I A JAPAN \ INDUSTRIAL VX SWITZERLAND GERMANY UNITED KINGDOM FRANCE NETHERLANDS l l l l l l l l l l l u . S. CORPORATE U. S . MONTHLY CORPORATE / \ MONTHLY EURO-DOLLAR BONDS t Aaa BONDS E U R O - D M BONDS 1975 1977 1975 1977 CHART 10 INDUSTRIAL STOCK INDEXES WEEKLY SERIES RATIO 1969- CALE IO 180 - 140 - UNITED STATES 100 80 RATIO SCALE 1969=100 - 140 60 UNITED KINGDOM 360 - 100 280 JAPAN 60 200 160 120 180 100 140 SWITZERLAND 80 CANADA 100 60 80 - I I III 60 III I I I i l l it h i l l i 180 180 140 140 FRANCE GENERAL INDEX GERMANY sr 100 - 80 80 60 60 100 1975 1977 1975 1977 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 ITALIAN LIRA CHART 2 . CHART 3 . GOLD PRICE 85 . 0 0 149 . 8 0 172 . 2 1 157 . 2 2 77 . 6 1 98 . 8 0 116 . 3 5 214 . 4 1 149 . 4 5 71 .38 DEC. DEC. DEC. DEC. DEC. DEC. DEC. 21 21 21 21 21 21 21 -0.08 0.19 3.96 -6.24 5.13 0.43 3.79 DEC. 2 1 159.75 I N LONDON U . S . DOLLAR PER FINE OUNCE CALL MONEY RATES U . S . FEDERAL FUNDS OVERNIGHT EURO-DOLLAR DEPOSITS U . K . 2 - D A Y LOCAL AUTHORITY DEPOSITS CANADA GERMANY EURO-OM JAPAN FRANCE NETHERLANDS EURO-SWISS FRANC CHART 5 . 21 21 21 21 21 21 21 21 21 21 3-MONTH FORWARD EXCHANGE RATES CANADIAN DOLLAR U . K . POUND GERMAN MARK FRENCH FRANC SWISS FRANC DUTCH GUILDER JAPANESE YEN . DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. 21 21 16 16 16 16 16 16 2 16 6.54 6.59 6.50 7.05 3.30 3.49 5.00 9.38 4.69 1.33 DEC. DEC. DEC. DEC. DEC. DEC. DEC. 21 21 21 21 21 21 21 6.70 3.60 5.75 7.00 7.08 6.74 2.27 3-MONTH INTEREST RATES U . S . C D ' S ( 6 0 - 8 9 DAYS) GERMAN INTERBANK LOAN JAPANESE BANK LOANS 6 DISCOUNTS EURO-DOLLAR DEPOSIT CANADIAN FINANCE COMPANY PAPER INTERBANK STERLING SWISS INTERBANK LOAN 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 21 21 21 21 21 21 6.59 6.71 7.10 21 21 21 21 21 21 6.59 6.54 0.32 7.00 6.70 0.16 EURO-DOLLAR DEPOSIT INTERBANK STERLING ( L O N D O N ) , COVERED DIFFERENTIAL DEC. 2 1 DEC. 2 1 DEC. 2 1 7.0 6.9_ 0.07 U . S . COMMERCIAL PAPER CANADIAN FINANCE CO. PAPER, COVERED DIFFERENTIAL DEC. 2 1 DEC. 2 1 DEC. 2 1 6.64 7.01 -0.37 EURO-DOLLAR DEPOSIT INTERBANK DM ( F R A N K F U R T ) , COVERED DIFFERENTIAL DEC. 2 1 DEC. 2 1 DEC. 2 1 7.00 7.76 -0.76 EURO-DOLLAR DEPOSIT SWISS INTERBANK, COVERED DIFFERENTIAL DEC. 2 1 DEC. 2 1 DEC. 2 1 7.00 7.40 -0.40 CHART 7 . DEC. DEC. DEC. DEC. DEC. DEC. SELECTED EURO-DOLLAR AND U . S . INTEREST ARBITRAGE, 7.3v 7.54 MONEY MARKET RATES OVERNIGHT EURO-DOLLAR DEPOSITS U . S . FEDERAL FUNDS D I F F E R E N T I A L A D J . FOR RESERVE REQUIREMENTS 3-MONTH EURO-DOLLAR DEPOSIT 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 RESERVE REQUIREMENTS CHART 8 . 7.or DEC. DEC. DEC. DEC. DEC. DEC. 3-MONTH FUNDS SERIES NAME CHART 9 . LONG TERM GOVERNMENT BOND YIELDS UNITED STATES GERMANY JAPAN (MONTHLY) SWITZERLAND CANADA FRANCE NETHERLANDS UNITED KINGDOM U.S. DEC. 16 2 DEC. NOV. 9 DEC. DEC. 16 2 DEC. 2 DEC. DEC. 16 7.66 5. .73 6 .. 5 8 3 ,. 8 7 8,. 7 6 10,. 8 5 7.55 9 ,. 7 7 CORPORATE AAA BONDS EURC-OM BONDS EURO-DOLLAR BONDS CHART 1 0 . LAST VALUE PLOTTED DATE VALUE NOV. OCT. OCT. 8.08 6.52 7.81 INDUSTRIAL STOCK INDEXES UNITED STATES JAPAN CANADA FRANCE UNITED KINGDOM SWITZERLAND GERMANY DEC. DEC. DEC. DEC. DEC. DEC. DEC. 16 2 2 2 16 16 9 9 6 . • 08 2 4 2 ,. 2 9 8 5 .. 8 0 8 6 ,. 4 6 112, . 4 1 7 7 ,. 4 0 97.76 yjSSiSB&-. H,1 F E D E R A L ° R E S E R V E statistical FOREIGN EXCHANGE RATES FOR THE WEEK ENDING DECEMBER 2 3 , release DECEMBER 2 7 , 1977 22 23 1977 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: (RATE U . S . DEC. COUNTRY MONETARY UNIT DEC. 19 DEC. 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 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 113.5000 6 . 53 0 0 0 3.00250 91.6100 17.1600 24.3450 20.9450 47.3500 11.8000 187.3000 0.11420 0.41490 42.1100 4.4100 43 . 7000 101.0000 19.4300 2.4800 115.0500 1.2284 6.2000 21.1500 49.3800 187.3000 113.8000 6.58500 3.00600 91.6300 17.1400 24.5850 21.0300 47.1400 11.8000 187.8500 0.11430 0.41580 42.3000 4.4050 43.6300 101.7500 19.3900 2.5000 115.2000 1.2325 6.2000 21.2700 49.2800 187.8500 20 CENTS) 21 113.7700 6.55750 3.01650 91.4300 17.1000 24.4950 21.0850 47.2850 11.8000 188.4800 0.11430 0.41600 42.3000 4.4100 43.6900 101.5500 19.3600 2.4950 115.0500 1.2308 6 .2000 21.2100 49.6300 188.4800 DEC. 113.3000 6.48500 2.97200 91.3100 16.9400 24.5125 20.9000 46.5100 11.8000 185.4000 0.11397 0.41400 42.1000 4.4100 43.0500 100.9000 18.9700 2.4800 115.0500 1.2285 6.2000 21.0100 48.9000 185.4000 DEC. 113.3000 6.46000 2.98400 91.3200 16.9300 24.4500 20.8800 46.5000 11.8000 186.5500 0.11395 0.41360 42.2000 4.4100 43.0700 100.4000 19.0100 2.4700 115.0000 1.2270 6.2000 21.0300 48.7500 186.5500
@FedFRASER