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5 Selected Interest & Exchange Rates Weekly Series of Charts February 27,1978 ?. r f. p a r e d b y t h e FINANCIAL MARKETS SECTION e DIVISION OF INTERNATIONAL FINANCE BOARD OF GOVERNORS FEDERAL RESERVE SYSTEM Washington, D C. 20551 - W O * # • 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. LONti-TERM GOVERNMENT BOND YIELDS 10. INDUSTRIAL STOCK INDEXES CHART 1 SPOT EXCHANGE RATES WEIGHTED AVERAGE VALUES (THIN LINE) DOLLAR PRICES OF FOREIGN CURRENCIES AND AVERAGES FOR WEEK ENDING WEDNESDAY # RATIO SCALE MAY 1970 PARITY=100 ) SCALE 1970 PARITY=100 1 120 100 100 80 X / ' FOREIGN CURRENCY PRICE OF U.S. DOLLAR CANADIAN DOLLAR 80 140 # 180 160 FRENCH FRANC 120 GERMAN MARK 140 # 100 120 240 180 160 200 SWISS FRANC ^ 140 180 JAPANESE YEN 160 120 140 » 100 120 160 160 DUTCH GUILDER BELGIAN FRANC 140 140 120 120 100 100 110 110 90 90 U.K. POUND ITALIAN LIRA 70 70 1976 50 1978 1976 1978 CHART 2 3-MONTH FORWARD EXCHANGE RATES PREMIUM (+) OR ( - ) AVERAGES FOR WEEK ENDING WEDNESDAY PER CENT PER ANNUM 6 — CANADIAN DOLLAR I I I PER CENT PER ANNUM DUTCH GUILDER U. K. POUND - 6 12 12 18 SWISS FRAii C — GERMAN MARK -A a/ ^ o I I I lllllllllil FRENCH FRANC JAPANESE YEN I I III I I I I 1976 1978 1976 1978 • CHART 3 * e PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY U.S. DOLLARS PER FINE OUNCE U.S. DOLLARS PER FINE OUNCE 190 — ™" 190 e * 170 170 150 150 12.5 Kg BARS AFTERNOON FIXING PRICE # 130 130 # 110 110 # 90 90 1976 •• 1978 CHART 4 CALL MONEY RATES WEEKLY SERIES # PER CENT PER ANI PER CENT PER ANNUM 12 12 - U.S. FEDERAL FUNDS JAPAN - - OVERNIGHT EURO-DOLLARS I I I I I I FRANCE U.K. 2 - D A Y LOCAL AUTHORITY CANADA NETHERLANDS EURO-SWISS FRANC GERMANY EURO-DM Illlllllll 8 CHART 5 3-MONTH INTEREST RATES WEEKLY SERIES PER CENT PER ANNUM CENT PER ANNUM 12 CANADIAN FINANCE CO. PAPER EURO-DOLLAR U.S. CD S JAPANESE BANK LOANS AND DISCOUNTS U.K. INTERBANK STERLING SWISS INTERBANK RATE GERMAN INTERBANK RATE 1976 1978 1976 1978 CHART 6 EURO-DOLLAR DEPOSIT RATES LONDON AVERAGES FOR WEEK ENDING WEDNESDAY PER CENT PER ANNUM OVERNIGHT 3-MONTH 6-MONTH 7-DAY 1-YEAR 1-MONTH 1976 1978 1976 1978 ft CHART 7 SELECTED EURO-DOLLAR AND U. S. MONEY MARKET RATES AVERAGES FOR WEEK ENDING WEDNESDAY PER CENT PER ANNUM PER CENT PER ANNUM 10 10 8 - 3-MONTH E U R O - D O L L A R DEPOSITS FEDERAL FUNDS DASHED LINE DEPOSITS P V J 9 0 - D A Y CD' S DASHED LINE DIFFERENTIAL DIFFERENTIAL ADJUSTED FOR RESERVE REQUIREMENTS 1111 i 11 i I i i 111 I 11 I i i 111 1976 FAVORS BORROWING IN U. S. IF POSITIVE V J OVERNIGHT /\ r ~ J EURO-DOLLAR ADJUSTED / 1978 FOR RESERVE REQUIREMENTS I I I I I I I I I I I I I I I I I I I I I I I 1976 1978 CHART 8 INTEREST ARBITRAGE: 3-MONTH FUNDS DIFFERENTIAL: PLUS(+), INDICATES FAVOR DOLLAR ASSETS AVERAGES FOR WEEK ENDING WEDNESDAY T PER ANNUM PER PKR U N I PKR AN 10 EURO-DOLLAR DEPOSITS 8 INTERBANK DM INTERBANK STERLING '\ / COVERED FRANKFURT COVERED LONDON A Jl A>7 U 6 / tv/v — k J - - — 4 EURO•-DOLLAR DEPOSITS DASHED LINE - - : 2 ; DIFFERENTIAL + 0 ^ . t\k DIFFERENTIAL llllllnlll 2 I I I I I I 11111111111 111111111111 10 - CANADIAN FINANCE CO. PAPER, COVERED EURO-DOLLAR DEPOSITS 8 \ \ | / — A 6 - 4 U.S. COMMERCIAL PAPER „ SWISS INTERBANK (SF) COVERED DASHED LINE DASHED LINE - - : 2 DIFFERENTIAL DIFFERENTIAL + 0 2 ~ I 1976 I iuiil11liilulululu 1978 vvi w -v * 111111111II I l l l l l l l l l l LJ 1976 1978 CHART 9 LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES PER CENT PER ANN UM NT PER ANNUM 10 CANADA UNITED STATES 8 6 8 JAPAN INDUSTRIAL 6 SWITZERLAND 4 2 GERMANY 18 16 UNITED KINGDOM FRANCE 14 12 NETHERLANDS U. S. CORPORATE 10 8 MONTHLY U. S. CORPORATE MONTHLY 9 ,\ / \ EURO-DOLLAR BONDS Aaa BONDS 7 E U R O - D M BONDS 5 1976 1978 1976 1978 CHART 10 INDUSTRIAL STOCK INDEXES WEEKLY SERIES RATIO >CALE 1969= DO RATIO ! 196 140 120 UNITED STATES — — 100 UNITED KINGDOM 80 60 - I I I 320 280 JAPAN 240 200 160 140 120 CANADA 100 SWITZERLAND 80 60 140 120 FRANCE GENERAL INDEX GERMANY 100 80 60 1976 1978 1976 1978 SERIES NAME LAST VALUE PLOTTED DATE VALUE CHART 1 . SPOT EXCHANGE RATES WEEKLY AVTRAGFCS, NOON BUYING RATES ( U . S . CENTS) 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. 22 22 22 22 22 22 22 22 22 48.75 0.41789 45.26 194.46 89.54 20.75 53.72 3.11B25 0.11694 FEB. FEB. FEB. FEB. FEB. FEB. FEB. FEB. FEB. 22 22 22 22 22 22 22 22 22 150.44 176.42 163.85 81.03 96.80 115.23 234.92 155.91 73.09 22 22 22 22 22 22 22 22 22 22 63.29 165.55 133.62 145.03 66.9? 62.58 99.93 206.96 137.51 60.55 22 22 22 22 22 22 22 -0.10 -0.23 4.27 -6.52 6.90 1.95 4.06 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 INDICES» MAY 1 9 7 0 = 100 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 . 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. SERIES NAME CHART 3 . GOLD PRICE I N LONDON U.S. CHART 4 . DOLLARS PER FINE OUNCE FEB. FEB. FED. FEB. FEB. FEB. FEB. FEB. FEB. FEB. 22 22 17 3 17 17 17 17 3 17 6 . ,78 6 . .94 5 . .88 7 . >22 3 . .00 3 . .25 4.. 7 5 10.. 5 0 4..69 0..29 FEB. FEB. FEB. FEB. FEB. FEB. FEB. 22 22 22 22 22 22 22 6.75 3.39 5.25 7.33 7.14 7.01 0.40 FEB. FEB. FEB. FEB. FEB. FEB. 22 22 22 22 22 22 6.94 6.86 6.94 7.33 7.70 7.96 22 22 22 22 22 22 6.94 6.78 0.45 7.33 6.75 0.46 EURO-DOLLAR DEPOSIT RATES: LONDON OVERNIGHT 7-DAY 1-MONTH 3-MONTH 6-MONTH 1-YEAR CHART 7 . 160.73 3-MONTH INTEREST RATES U . S . 90-DAY CD'S GERMAN INTERBANK LOAN JAPANESE BANK LOANS L DISCOUNTS EURO-DOLLAR DEPOSIT CANADIAN FINANCE PAPER INTERBANK STERLING SWISS INTERBANK LOAN CHART 6 . FEB. 22 CALL MONEY RATES U . S . FEDERAL FUNDS OVERNIGHT EURO-DULLAR DEPOSITS U . K . 2-DAY LOCAL AUTHORITY DEPOSITS CANADA GERMANY EURO-DM JAPAN FRANCE NETHERLANDS EURO-SWISS FRANC CHART 5 . LAST VALUE PLOTTED DATE VALUE 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. SERIES NAME ^^LART 8. LAST VALUE PLOTTED DATE VALUE INTEREST ARBITRAGE, 3-MONTH FUNDS EURO-DOLLAR DEPOSIT INTERBANK STERLING (LONDON), COVERED DIFFERENTIAL F E B . 22 F E B . 22 F E B . 22 7.33 6 . .78 0 . .55 U . S . COMMERCIAL PAPER CANADIAN FINANCE PAPER, COVERED DIFFERENTIAL F E B . 22 F E B . 22 F E B . 22 6 ,. 7 8 7 ,. 0 4 —0<. 2 6 EURO-DOLLAR DEPOSIT INTERBANK DM (FRANKFURT), COVERED DIFFERENTIAL F E B . 22 F E B . 22 F E B . 22 7.33 7.. 6 6 - 0 ..33 EURO-DOLLAR DEPOSIT SWISS INTERBANK, COVERED DIFFERENTIAL FEB. 22 FEB. 22 FEB. 22 7 .. 3 3 7 .. 3 0 0 . .03 CHART 9 . LONG TERM GOVERMENT BOND YIELDS UNITED STATES GERMANY JAPAN (MONTHLY) SWITZERLAND CANADA FRANCE NETHERLANDS UNITED KINGDOM U.S. 17 10 17 3 27 3 17 S.06 5.45 6.14 3.50 9.08 10.90 7.05 9.90 CORPORATE AAA BONDS EURO-DM BONDS EURO—DOLLAR BONDS CHART 1 0 . FEB. FEB. JAN. FEB. FEB. JAN. FEB. FEB. 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 F E B . 17 J A N . 20 JAN. 27 3 FEB. F E B . 17 F E B . 10 FEB. 3 91.19 249.28 84.40 76.23 109.41 80.32 100.46 # # # # # # # # # e s>22J&** F E D E R A H . 10 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 FEBRUARY 2b, 1976 FOREIGN EXCHANGE RATES FOR THE WEEK ENDING FEBRUARY 2 4 , 1978 The Board of Governors of the Federal Reserve System is advised that the Federal Reserve Bank of New York has c e r t i f i e d for customs purposes the f o l l o w i n g noon buying rate in New York C i t y for cable transfers payable in foreign currencies: COUNTRY MONETARY UNIT 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 KRClNA FRANC POUND FEB. 20 H 0 L I D A Y FEB. 21 (RATE U.S. CENTS) FEB. 22 113.6300 6.80250 3.12700 69.4450 17.7900 23.6450 20.7600 48.9500 12.3000 194.4800 0.11712 0.41945 42.5000 4.3975 45.4100 102.4500 16.7600 2.4875 115.0500 1.2429 6.5000 21.6200 54.4000 194.4800 113.7000 6.78750 3.14300 89.5900 17.7700 23.9000 20.8050 49.0600 12.3000 194.7500 0.11715 0.41870 42.4800 4.4000 45.5400 102.5000 16.7500 2.4925 115.0500 1.2433 6.5000 21.6300 54.7 500 194.7500 FEB. 23 FEB. 24 113.9000 6.83500 3.17400 89.6400 17.8900 23.9900 20.9300 49.5000 12.3000 195.3000 0.11732 0.41990 42.4500 4.3950 46.1700 102.6000 18.6900 2.4950 115.0500 1.2446 6.5000 21.7900 55.6800 195.3000 113.0000 6.76750 3.12000 89.6100 17.6900 23.5700 20.5000 48.6000 12.3000 192.5000 0.11600 0.41630 42.5200 4.3975 45.3000 102.1000 lb.7500 2.5050 115.0500 1.2473 6.5000 21.7200 54.0000 192.5000
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