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5 - V V m Selected Interest & Exchange Rates Weekly Series of Charts . February 13,1978 DIVISION OF INTERNATIONAL FINANCE Prepared by the FINANCIAL MARKETS SECTION BOARD OF GOVERNORS FEDERAL RESERVE SYSTEM Washington, D C. 20551 O r 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 CALE 70 PARITY=100 MAY RATIO S 1 9 7 0 PAR1TIM O O 120 100 FOREIGN CURRENCY PRICE OF U.S. DOLLAR CANADIAN DOLLAR 80 L_U IL 14a ZA — FRENCH FRANC GERMAN MARK - - s 120 100 I I I I I I ^ i M l l . l M 240 200 SWISS FRANC 180 JAPANESE YEN 160 140 120 160 DUTCH GUILDER BELGIAN FRANC - 140 120 I I I I I 100 I 110 — 90 U.K. POUND 1976 I \ ITALIAN LIRA — 70 I - I 1978 I I 50 1976 1978 CHART 2 3-MONTH FORWARD EXCHANGE RATES PREMIUM (+) OR ( - ) AVERAGES FOR WEEK ENDING WEDNESDAY rfc CENT PER ANNUM 6 CANADIAN DOLLAR ' + 0 6 PER C E N T PER 6 DUTCH GUILDER + 0 U. K. POUND 6 12 18 SWISS FRAIMC 6 r GERMAN MARK 7 + 0 ^ i / ^ i v - i I I " I 11111111111 + i 0 FRENCH FRANC - JAPANESE YEN - ] 6 12 - I 1976 1978 I I I I 1976 I 1978 ANNUM CHART 3 PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY U.S. D O L L A R S PER FINE OUNCE U.S. D O L L A R S PER FINE OUNCE — 190 190 170 170 150 150 12.5 Kg BARS A F T E R N O O N FIXING PRICE 130 130 110 90 90 1976 # •• 1978 CHART 4 CALL MONEY RATES WEEKLY SERIES PER CENT PER PER ANNUM CENT # PER AL 12 U.S. FEDERAL FUNDS - \J-\ JAPAN — OVERNIGHT EURO-DOLLARS I I Illllllllll I 16 FRANCE - 12 1 — V\ - 8 — 4 U.K. 2 - D A Y LOCAL AUTHORITY - 1 I I I f 1 1 1 1 Illllllllll Illllllllll I EURO-SWISS FRANC — GERMANY 8 + 0 EURO-DM 1976 0 NETHERLANDS CANADA I 1 1978 1976 1978 CHART 5 3-MONTH INTEREST RATES WEEKLY SERIES PER ANNUM PER CENT PER 12 CANADIAN FINANCE CO. PAPER EURO-DOLLAR 8 4 16 12 JAPANESE BANK LOANS AND DISCOUNTS 8 U.K. INTERBANK STERLING 4 SWISS INTERBANK RATE 4 GERMAN INTERBANK RATE + 0 1976 1978 1976 1978 CHART 6 EURO-DOLLAR DEPOSIT RATES LONDON AVERAGES FOR WEEK ENDING WEDNESDAY PER CENT PER ANNUM PER CENT 10 OVERNIGHT 3-MONTH ! t i l 11111111 I I I I I I 10 6-MONTH 7-DAY 10 1-YEAR 1-MONTH 1976 1978 1976 1978 PER ANNUM # CHART 7 SELECTED EURO-DOLLAR AND U.S.MONEY MARKET RATES AVERAGES FOR PER CENT PFR l WEEK ENDING WEDNESDAY PER ANNUM CENT PER ANNUM 10 10 FEDERAL 3-MONTH EURO-DOLLAR DEPOSITS FUNDS DASHED LINE 90-DAY DASHED CD'S LINE DIFFERENTIAL DIFFERENTIAL ADJUSTED FOR RESERVE REQUIREMENTS ADJUSTED FOR RESERVE REQUIREMENTS i i I i 111 i I i i 1976 FAVORS BORROWING IN U. S. IF POSITIVE ,\ J OVERNIGHT EURO-DOLLAR DEPOSITS / 111 i 11 1 1 1 1 ' I M 1 1 1 1 1 1 I i 11 I i 11 i 111 i 1978 1976 1978 CHART 8 INTEREST ARBITRAGE: 3-MONTH FUNDS DIFFERENTIAL: PLUS(+), INDICATES FAVOR DOLLAR ASSETS AVERAGES FOR WEEK ENDING WEDNESDAY PER ' PER PER ANNUM CENT PER ANI 10 EURO-DOLLAR DEPOSITS 8 INTERBANK DM INTERBANK STERLING COVERED COVERED FRANKFURT LONDON 6 jl 4 EURO-DOLLAR DEPOSITS DASHED LINE 2 DIFFERENTIAL + 0 v AA DIFFERENTIAL I I I III I I I 2 II M i l l 1J iiiiiIiiiiiiii 10 CANADIAN FINANCE CO. PAPER, EURO-DOLLAR DEPOSITS COVERED 8 6 4 SWISS INTERBANK (SF) COVERED U.S. COMMERCIAL PAPER DASHED DASHED LINE LINE 2 DIFFERENTIAL DIFFERENTIAL + 0 I IIIIIIIIIIIIIIIIIIIIII 2 1976 1978 1976 1978 CHART 9 LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES :ENT PER PER ANNUM CENT PER AN 10 CANADA UNITED STATES ( h j - - 8 - I I I I I I 6 8 JAPAN INDUSTRIAL \ 6 SWITZERLAND — 4 - I GERMANS iiliilii I I I I I 2 \8 II I I I I I I I I I UNITED KINGDOM 16 FRANCE 14 12 NETHERLANDS 10 U. S. CORPORATE 8 MONTHLY U. S. ,\ / X CORPORATE MONTHLY 9 EURO-DOLLAR BONDS Aaa BONDS 7 EURO-DM BONDS 5 1976 1978 1976 1978 CHART 10 INDUSTRIAL STOCK INDEXES WEEKLY SERIES RATIO SCALE 1969=100 UNITED STATES UNITED KINGDOM 320 — 280 - 240 - — - JAPAN ' - 200 160 - ~l I I I I I iiliiln In 11111111111 j 11 M n i 140 120 - - CANADA 100 80 — -r - I I I 60 SWITZERLAND III MIMIMIM ,,l, 140 120 100 80 A -V ^ FRANCE \ . GENERAL GERMANY — ^ - 60 INDEX I I I 1976 - nlMluh, 1978 SERIES NAME ART 1 . LAST VALUE PLOTTED DATE VALUE SPUT EXCHANGE RATES WEEKLY AVERAGES, NOUN BUYING RATfcS ( U . S . CtNTS) GERMAN MARK JAPANESE YEN DUTCH GUILDER U . K . POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC BELGIAN FRANC I T A L I A N LIRA FEB. FEB. FEB. FEB. FEB. FEB. FEB. FEB. FEB. 8 a 8 6 8 8 8 8 6 4 7 . 42 0 . 41401 4 4 . 28 1 9 3 . 89 9 0 . 08 20. 41 5 0 . ,64 3.05910 0.11533 FEB. FEB. FEB. FEB. FEB. FEB. FEB. FEB. FEB. 8 6 8 8 8 8 8 8 8 149..04 173. .56 160..30 80.. 7 9 97.39 113.37 222.31 152 . 9 5 72 . 0 6 8 8 8 8 8 8 8 8 8 8 84 . 3 3 162 . 2 2 133 . 6 4 143 . 1 5 67 . 4 9 84 . 0 0 99 . 1 8 197 . 5 7 136 . 1 2 60 . 2 6 6 8 0.02 0.03 4.16 -7.56 6.52 2.28 3.53 I N D I C E S , MAY 1970 PARITIES = 100 GERMAN MARK JAPANESE YEN DUTCH GUILDER U . K . POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC BELGIAN FRANC I T A L I A N LIRA WEIGHTED AVERAGE EXCHANGE VALUE I N D I C E S , MAY 1 9 7 0 U . S . DOLLAR GERMAN MARK JAPANESE YEN DUTCH GUILDER U . K . POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC BELGIAN FRANC I T A L I A N FRANC CHART 2 . 100 FEB. FEB. FEB. FEB. FEB. FEB. FEB. FEB. FEB. FEB. 3-MONTH FORWARD EXCHANGE RATES, PREMIUM OR DISCOUNT CANADIAN DOLLAR U . K . POUND GERMAN MARK FRENCH FRANC SWISS FRANC DUTCH GUILDER JAPANESE YEN FEB. FEB. FEB. FEB. FEB. FEB. FEB. & 8 8 8 8 SERIES NAME LAST VALUE PLOTTED DATE VALUE CHART 3 . GOLD PRICE I N LONDON U . S . DOLLARS PER FINE OUNCE 8 175.12 FEB. 8 FEB. 8 FEB. 3 J A N . 27 FEB. 3 FEB. 3 3 FEB. 3 FEB. J A N . 27 3 FEB. 6.75 6.74 6.00 6.90 3.20 3.18 4.88 9.13 4.69 0.3b FEB. FEB. FEB . FEB. FEB. FEB. FEB. 8 ti 8 8 6 8 8 6.75 3.46 5.25 7.20 7.11 6*61 0.75 FEB. FEB. FEB. FEB. FEB. FEB. 8 0 8 8 8 6.74 6.96 6.91 7.20 7.59 7.80 8 8 8 8 8 8 6.74 6.75 0.27 7.20 6.75 0.32 FEB. 4 . 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 5. 3-MONTH INTEREST RATES U . S . 90—DAY CD'S GERMAN INTERBANK LOAN JAPANESE BANK LOANS & DISCOUNTS EURO-DOLLAR DEPOSIT CANADIAN FINANCE PAPER INTERBANK STERLING SWISS INTERBANK LOAN CHART 6 . EURO-DOLLAR DEPOSIT RATES: LONDON OVERNIGHT 7-DAY 1-MONTH 3-MONTH 6—MONTH 1-YEAR a CHART 7 . 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 . 90-DAY CD'S DIFFERENTIAL A D J . FOR RESERVE REQUIREMENTS FEB. FEB. FEB. FEB. FEB. FEB. S E R I E S NAME CHART 6 . LAST VALUE PLOTTED &ATE VALUE INTEREST ARBITRAGE, 3-MONTH FUNDS EURO-DOLLAR DEPOSIT INTERBANK STERLING (LONDON), COVERED DIFFERENTIAL FEB. FEB. FEB. 8 8 b 7.20 6.64 0.56 U . S . COMMERCIAL PAPER CANADIAN FINANCE PAPER, COVERED DIFFERENTIAL FEB. FEB. FEB. 8 6 b 6.76 7.13 -0.37 EURO-DOLLAR DEPOSIT INTERBANK DM (FRANKFURT), COVERED DIFFERENTIAL FEB. FEB. FEB. fa 6 8 7.20 7.62 -0.42 EURO-DOLLAR DEPOSIT SWISS INTERBANK, COVERED DIFFERENTIAL FEB. FEB. FEB. 8 8 8 7.20 7.27 -0.07 FEB. FEB. DEC. JAN. JAN. JAN. JAN. FEB. 3 3 7 . .96 5 . .45 6,.27 3 ,.65 9 ,. 0 6 10.84 6.98 9.93 CHART 9 . LONG TERM GOVERMENT BOND YIELDS UNITED STATES GERMANY JAPAN (MONTHLY) SWITZERLAND CANADA FRANCE NETHERLANDS UNITED KINGDOM 27 27 13 27 3 U . S . CORPORATE AAA BONDS EURO-DM BONDS EURO-DOLLAR BONDS 4 CHART 1 0 . JAN. DEC. DEC. 8.41 6.40 7.95 INDUSTRIAL STOCK I N D I C E S UNITED STATES JAPAN CANADA FRANCE UNITED KINGDOM SWITZERLAND GERMANY FEB. JAN. JAN. JAN. JAN. FEB. JAN. 3 13 20 20 27 3 27 9 2 .. 2 0 2 4 7 . .08 8 5 . .15 8 0 , .89 113..75 7 9 .. 4 5 9 9 . .25 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 FEBRUARY FOREIGN EXCHANGE RATES FOR THE MEEK ENDING FEBRUARY 10, r e l e a s e 10, I97E 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 A F R I C A SPAIN S R I LANKA SWEDEN SWITZERLAND U N I T E D KINGDOM MONETARY UNIT FEB: 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 113.5400 6.62500 3.06500 90.0600 17.5100 25.1450 20.2700 47.4600 12.4000 193.8200 0.11530 0.41470 42.3200 4.3950 44.3500 101.6000 19.5*00 2.4725 115.0500 1.2328 6.2500 21.5200 50.9200 193.6200 6 FEB. 7 IRA1RT U . S . FEB. 113.3700 6.61000 3.06300 09.9600 17.5150 25.1475 20.3000 47.4450 12.3500 193.2500 0.11540 0.41420 42.3200 4.3950 44.3000 101.5300 19.5300 2.4*00 115.0500 1.2352 6.2500 21.5100 51.0200 193.2500 CENTS 6 113.5000 6.61000 3.05200 90.0700 17.5000 25.1475 20.4700 47.3600 12.3500 193.3500 0.11562 0.41410 42.3200 4.3950 44.2700 101.5000 19.5000 2.4750 115.0500 1.2361 6.2500 21.5000 50.8900 193.3500 FEB. 9 113.52O0 6.60000 3.05200 90.2200 17.4600 25.1650 20.4000 47.4100 12.3500 193.5100 0.11560 0.41400 42.3100 4.3950 44.2800 102.0000 19.4500 2.4700 115.0500 1.2350 6.2500 21.4700 51.0650 193.5100 FEB. 10 113.5500 6.O1000 3.05200 90.04B0 17.4550 25.1125 20.4500 47.4700 12.3000 193.5500 0.11570 0.413S5 42.3300 4.3950 44.3000 101.9500 19.4300 2.4675 115.0500 1.4:355 6.5000 21.4700 51.3300 193.5500
@FedFRASER