Full text of H.13 Selected Interest and Exchange Rates, Weekly Series of Charts : January 16, 1978

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S - V V C

*J0sr
;
Selected Interest &
Exchange Rates
Weekly Series of Charts

January 16, 1978

S:I%RKETS
SECTION

e




DIVISION OF
INTERNATIONAL FINANCE
F^^A0UFRGE°SVEERRVNE°SRVSSTEM
Washington, D.C. 20551

m

• 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

w

RATIO SCALE
MAY 1970 PARITY= 100

TIO SCALE
IAY 1970 PARITY=100

120
100
-

FOREIGN CURRENCY
PRICE OF U.S. DOLLAR

80

100

CANADIAN DOLLAR
—

AX\

80

140
FRENCH FRANC

GERMAN MARK

120

—

I
180
160

I

I

I

I

I

240

_
—

-

—

—

140

I

100

-

•

JAPANESE YEN

y^-V/x

120

-

-A

-

—

SWISS FRANC

/

200

f
180

/

-

160

-

140

100
I

I

I




I

I

I

I I

I

I I

I

I I

I

-

II

"

i

l

I

l

I

120

I

DUTCH GUILDER
BELGIAN FRANC

—

90

U.K. POUND

I
\

ITALIAN LIRA

"

-

-

*

— "

-

N

-

-

I

I

I

|

70

|
1976

|

I IIIIIIII!I

50
1978

CHART 2

3-MONTH FORWARD EXCHANGE RATES
PREMIUM (+) OR ( - )
AVERAGES FOR WEEK ENDING WEDNESDAY
PER CENT PER ANNUM
6
-

CANADIAN DOLLAR

-

V)

I IIIIIIIIII

-

PER CENT PER ANNUM

DUTCH GUILDER

-

U. K. POUND

Aiw

k

f

-

12

l

18

l

l

I

I

I

SWISS FRANC

_
GERMAN MARK

i

i

i

V

/

iiIiiImIii

I

I

M I . . l u l l ,

I

—

-ryi

12

—

FRENCH FRANC
-

-




12

-

JAPANESE YEN

-

J

-

I IIIIIIIIII
1976

1978

i i 111111111
1976

1978

|

CHART 3

PRICE OF GOLD IN LONDON
AVERAGES FOR WEEK ENDING WEDNESDAY
U.S. DOLLARS PER FINE OUNCE

U.S. DOLLARS PER FINE OUNCE

190

190

170

170

150

-

12.5 Kg BARS

-

150

-

130

AFTERNOON FIXING PRICE

130

-

110

-




110

90
1976

1978

CHART 4

CALL MONEY RATES
WEEKLY SERIES
PER

[T PER ANNUM

PER CENT PER A)

12

U.S. FEDERAL FUNDS

JAPAN

8

4

OVERNIGHT EURO-DOLLARS

0
16
FRANCE
12

8
U.K. 2-DAY LOCAL AUTHORITY
4

0
12
CANADA

NETHERLANDS

8

4

0
12

8

EURO-SWISS FRANC

GERMANY

4

+

0

EURO-DM

4


1976


1978

1976

1978

CHART 5

3-MONTH INTEREST RATES
WEEKLY SERIES
ENT PER ANNUM

PER CENT PER M

12
CANADIAN FINANCE CO. PAPER

EURO-DOLLAR

U.S.

8

CD S

4

16

12

JAPANESE BANK
LOANS AND DISCOUNTS

8

U.K. INTERBANK STERLING

4

SWISS INTERBANK RATE
4

\

-

GERMAN INTERBANK RATE

+

0

—

I

I
1976




I
1978

1976

1978

CHART 6

EURO-DOLLAR DEPOSIT RATES

LONDON

AVERAGES FOR WEEK ENDING WEDNESDAY
PER CENT PER ANNUM

PER CENT PER ANNUM

OVERNIGHT

3-MONTH

10
6-MONTH

W\ k

7-DAY

I

10

I I

I

r

I I

1-YEAR

-

1-MONTH

6

\

-




1

i
1976

1978

i
1976

i
1978

4

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

FEDERAL FUNDS
DASHED LINE

MONTH
EURO-DOLLAR DEPOSITS

OVERNIGHT
EURO-DOLLAR DEPOSITS

90-DAY CD'S
DASHED LINE

DIFFERENTIAL
ADJUSTED FOR RESERVE REQUIREMENTS

DIFFERENTIAL
ADJUSTED FOR RESERVE REQUIREMENTS

11111 11 1111
1976
FAVORS BORROWING IN U. S. IF POSITIVE




1978

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

1

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 I

10

-

-

EURO-DOLLAR DEPOSITS
INTERBANK DM

INTERBANK STERLING

COVERED FRANKFURT

COVERED LONDON

-

/

A/J
J\J

1

-

A

m

EUROi-DOLLAR DEPOSITS
DASHED LINE

-

-

DIFFERENTIAL

—

-

f

DIFFERENTIAL
i

i

i

I

I

I

i i i n i i i i i i l nliiliilii

10

10
-

CANADIAN FINANCE CO. PAPER, COVERED

-

EURO-DOLLAR DEPOSITS

#

.

\
\

1

*\

A

—

/

-

U.S. COMMERCIAL PAPER

-

DASHED LINE

SWISS INTERBANK (SF) COVERED
DASHED LINE

-

-

—

DIFFERENTIAL




DIFFERENTIAL
" yy

\/>NyvjXvv^

VV

11 l u l l 1111
1976

; »

1 11111 I I 1 1 1
Illllllllll
1978

1976

1978

CHART 9

LONG-TERM GOVERNMENT BOND YIELDS
WEEKLY SERIES
CENT PER ANNUM

PER CENT PER AL

10

CANADA

UNITED STATES

h j

-

-

8
-

I

I

I

I

I

I

6
8

JAPAN

INDUSTRIAL

\

6

SWITZERLAND

—

4
-

GERMANY

I

I

I

I

I

2

f

18

UNITED KINGDOM

16

FRANCE

14

12

NETHERLANDS
10
l u l l
U. S.

CORPORATE

MONTHLY

8
U. S.

A

/ V

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

RATIO S
1969=

140
120

-

100

-

UNITED STATES

-

r

^

-

80

UNITED KINGDOM

—

60

1 1 1

I

I

11111111111

I

I

200

160

-

140

—

120

—

1

100

CANADA
100

80

r

\

W

—

R V X
V

-

-

SWITZERLAND
.

140

i

i

i

I

I

I

80

z V

Af
r

60

"

V

i

I i 11! J111 J_LJ

i

60

i

I

I

I

| |||||||||| lllllhll,,

—

50
140

120
A

FRANCE
GENERAL

^

INDEX
—

80

—

.

pr\

-

i

i

i

I




I
1976

I

1111 j 1111, i

120

-

100

~

80

GERMANY

100

60

—
-

n i l ill ill I
1978

I

I

I

I

I
1976

I

II

i.l
1978

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 .

JAN.
JAN.
JAN.
JAN.
JAN.
JAN.
JAN.
JAN.
JAN.
JAN.

11
11
11
11
11
11
11
11
11
11

84.46
149.39
171.34
158.27
79.93
98.48
117.40
217.52
150.85
71.43

JAN.
JAN.
JAN.
JAN.
JAN.
JAN.
JAN.

11
11
11
11
11
11
11

0.10
0.73
4.44
-4.92
5.95
1.78
5.02

JAN. 11

170.22

J A N . 11
J A N . 11
JAN.
6
JAN.
6
JAN.
6
JAN. 6
JAN.
6
JAN.
6
DEC. 30
JAN.
6

6.58
6.87
6.38
6.91
3.25
2.16
5.25
8.88
5.00
0.20

JAN.
JAN.
JAN.
JAN.
JAN.
JAN.
J AN .

6.58
3.54
5.45
7.26
7.09
6.14
1.02

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 . DOLLAR PER FINE OUNCE
CHART 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
CHART 5 . 3-MONTH INTEREST RATES
U . S . CD'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




11
11
11
11
11
11
11

SERIES N A M

L A S T VALUE P L G T T :
DATE
VALUE

CHART to. EURO-DOLLAR DEPOSIT RAT EL - LOivLON
11
11
11
11
11
11

6.87
6.89
7.05
7.26
7.57
7.69

11
11
11
11
11
11

6.87
6.58
0.58
7.26
6.58
0.28

EURO-DOLLAR DEPOSIT
INTERBANK STERLING (LONDON), COVERED
DIFFERENTIAL

J A N . 11
JAN. 11
JAN. 11

7.26
6.87
0.40

U . S . COMMERCIAL PAPER
CANADIAN FINANCE CO. PAPER, COVERED
DIFFERENTIAL

J A N . 11
J A N . 11
J A N . 11

6.69
7.19
-0.50

EURO-DOLLAR DEPOSIT
INTERBANK DM (FRANKFURT), COVERED
DIFFERENTIAL

J A N . 11
JAN. 11
JAN. 11

7.26
7,98
-0.72

EURO-DOLLAR DEPOSIT
SWISS INTERBANK, COVERED
DIFFERENTIAL

JAN. 11
J A N . 11
JAN. 11

7.26
6.97
0.29

OVERNIGHT
7-DAY
1-MONTH
3-MONTH
6-MONTH
1-YEAR
CHART 7 .

SELECTED EURO-DOLLAR AND U . S . MONEY MARKET R A T E S

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
CHART 8 .

JAN.
JAN.
JAN.
JAN.
JAN.
JAN.

JAN.
JAN.
JAN.
JAN.
JAN.
JAN.

INTEREST ARBITRAGE, 3-MONTH FUNDS




SERIES NAME
^ppHART 9 .

LAST VALUE PLOTTED
DATE
VALUE

LONG TERM GOVERNMENT BOND YIELDS

UNITED STATES
GERMANY
JAPAN (MONTHLY1
SWITZERLAND
CANADA
FRANCE
NETHERLANDS
UNITED KINGDOM

JAN.
DEC.
DEC.
JAN.
JAN.
DEC.
DEC.
DEC.

6
30
6
6
16
30
30

7.83
5.60
6.27
3.80
8.83
10.00
7.37
9.57

U . S . CORPORATE
AAA BONDS
EURO-DM BONDS
EURO-DOLLAR BONDS
CHART 1 0 .

DEC.
NOV.
NOV.

8.19
6.45
7.85

INDUSTRIAL STOCK INDEXES

UNITED STATES
JAPAN
CANADA
FRANCE
UNITED KINGDOM
SWITZERLAND
GERMANY




JAN.
DEC.
DEC.
DEC.
JAN.
DEC.
DEC.

6
16
23
23
6
30
30

95.47
237.42
88.97
83.61
118.46
75.37
97.48

F E D E R A L

R E S E R V E

statistical

release

'•f'vu.essvr''

H.10

JANUARY 1 7 ,

FOREIGN EXCHANGE RATES
FOR THE WEEK ENDING

JANUARY 1 3 ,

1978

1978

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
UNITED KINGDOM



MONETARY
UNIT

JAN.

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

113.6000
6.48500
3.01000
91.0300
17.0600
24.7025
21.1050
46.5600
12.1500
191.6500
0.11420
0.41415
42.1500
4.3950
43.5200
101.7000
19.2100
2.4625
115.0000
1.2335
6.2000
21.1825
49.5000
191.6500

/

9

JAN.

10

(RA1IE U . S . CENTS)
JAN. 11

113.6500
6.50000
3.01900
90.8300
17.1700
24.7450
21.1200
46.8100
12.1500
191.8000
0.11420
0.41410
42.1300
4.4000
43.7000
101.5000
19.2500
2.4750
115.0000
1.2353
6.2000
21.2900
49.7300
191.8000

113.9500
6.58750
3.05600
90.8500
17.3400
24.9700
21.3100
47.3000
12.1500
194.0500
0.11455
0.41580
42.2100
4.3950
44.1300
102.0000
19.4100
2.4875
115.0000
1.2399
6.2000
21.4300
50.5300
194.0500

JAN.

12

113.6000
6.61000
3.01500
91.0600
17.2100
24.9800
21.1500
46.9200
12.1500
192.5000
0.11430
0.41390
42.3000
4.3975
43.9000
101.7500
19.2900
2.4900
115.0000
1.2432
6.2000
21.2900
50.2000
192.5000

JAN.

13

113.6800
6.52250
3.04000
91.0000
17.3100
24.8975
21.2600
47.1800
12.2500
193.0000
0.11330
0.41410
42.1600
4.4000
44.1800
101.7500
19.3100
2.4700
115.0000
1.2385
6.2000
21.4000
50.5500
193.0000