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/ Selected Interest & Exchange Rates \AfeeklySeries of Charts JANUARY 17, 1977 DIVISION OF INTERNATIONAL FINANCE Prepared by the FINANCIAL MARKETS SECTION BOARD OF GOVERNORS FEDERAL RESERVE SYSTEM Washington. D C 20551 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 SPOTJEXCHANGE RATES DOLLAR PRICES OF FOREIGN CURRENCIES AND WEIGHTED AVERAGE VALUES (DASHED LINE) AVERAGES FOR WEEK ENDING WEDNESDAY RATIO SCALE MAY 1970 PARITY* 100 CANADIAN DOLLAR 100 FOREIGN CURRENCY PRICE OF U.S. DOLLAR *0 80 RATIO SCALE MAY 1970 PARITY«100 X - ' - x I I I 140 N Z ' " I I I JAPANESE YEN FRENCH FRANC 120 100 200 SWISS FRANC teo — 160 - — - GERMAN MARK — — A / / 140 \^\ — 120 I I I I I 160 I 160 DUTCH GUILDER BELGIAN FRANC 140 V - \ / 1 1 120 v -r' 100 llilllnlululullllll V / 120 / ' I I I — 1 1 1 liiniiiiii 11111111111 100 100 I T A L I A N LIRA U.K. POUND 80 ~ V j ' " v V 1 60 V ' i i i - 1 - 1 197S 1 •i\Xu l u l u 111111111 u i i l i i l i i l n 1*77 1975 1977 Ocirt 2 3-MONTH FORWARD EXCHANGE RATES PREMIUM (+), OR DISCOUNT ( - ) AVERAGES FOR WEEK ENDING WEDNESDAY CENT PER ANNUM AhA I I CANADIAN DOLLAR I I I I JIIJ IIJ I IJ ] PER CENT PE* ANNUM SWISS FRANC U.K. POUND II l l l l l l l l DUTCH GUILDER GERMAN MARK liliilnlji JAPANESE YEN 2 per cent on scale equals 1 per cent on all others FRENCH FRANC I I I 1975 I 1977 1975 1977 Chart 3 PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY U.S. DOLLARS PER FINE OUNCE 200 12.5 Kg BARS Afternoon fixing price 180 160 140 120 100 80 1*75 1977 Chart 4 CALL MONEY RATES WEEKLY SERIES PER CENT PER AL PER CENT PER ANNUM 16 16 JAPAN U.S. FEDERAL FUNDS 12 - ' OVERNIGHT EURO-DOLLARS I ! I I I I I I I I III I III I I I I I I I I 16 V\ U.K. 2 - DAY LOCAL AUTHORITY I CANADA - - I I > X ^FRANCE I I I 12 I I I I 11 I l l l l I I l l l l l l l l l l NETHERLANDS - I I I, I I - 8 - 4 I GERMANY EURO-SWISS FRANC EURO liluluin iiliiliiUilHlnltiln 1978 1977 1975 1977 Chart 5 3-MONTH INTEREST RATES WEEKLY SERIES PER CENT PER ANNUM PER CENT PER ANNUM C A N A D I A N FINANCE CO. PAPER u i ' ~ e 12 l\ a A A • 8 1 e UNITED STATES CD's V\_ - / V - 4 1 " l 1 1 1 1 1 - — 4 — 1 11 1 1 1 1 1 11111 1 1 1 1 1 1 1 1 11 1 1 1 1 1 I l l l H i l l II t l l l l l l l l l l 1 18 — • 1 14 — | GERMAN I N T E R B A N K RATE —1 10 - - 1 1 1 1 1 i l l 111 i i l i i n [ L l1ii111 — — - JAPAN Monthly 1 r - SWISS DEPOSIT R A T E L u EURO-DOLLAR 1 1 1 1 1 1975 1 II I l l l I l l l l Ml. , l H h . 1977 10 Chart 6 EURO-DOLLAR DEPOSIT RATES London AVERAGES FOR WEEK ENDING WEDNESDAY PER CENT PER ANNUM PER CENT PER ANNUM 3-MONTH 1111IIII111 7-DAY 6-MONTH __ 1--MONTH 1-YEAR 1975 1977 1975 1977 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 12 OVERNIGHT Euro-dollar deposits 3-MONTH Euro-dollar deposits FEDERAL FUNDS 90-DAY CD's , ^ f DIFFERENTIAL DIFFERENTIAL Adjusted for reserve requirements f , V V W I V W - V '-\-V V~_ V v/ + 0 I I I I I I I I I I I I I I I I I I I I I I I I 1975 1977 J_L 1975 l l I l l 1977 Chart 8 INTEREST ARBITRAGE: 3-MONTH FUNDS AVERAGES FOR WEEK ENDING WEDNESDAY DIFFERENTIAL: PLUS(+), INDICATES FAVOR DOLLAR ASSETS PER CENT PER ANNUM PER CENT PER ANNUM INTERBANK DM Covered Frankfurt EURO-DOLLAR DEPOSITS INTERBANK STERLING Covered London 10 WuV-V '' E U R O - D O L L A R DEPOSITS 'V DIFFERENTIAL * liilnlii 15 ^ DIFFERENTIAL ''I" '" '" III llllllllll - — 15 CANADIAN FINANCE CO. PAPER, COVERED SWISS DEPOSITS (SF) COVERED 10 - U.S. COMMERCIAL PAPER EURO-DOLLAR DEPOSITS O S--X/1 vV, ,</ DIFFERENTIAL V/ 5 |v'-Vv I I "iiiiiiiiiliiiiiiniii I 1975 1977 I 1975 I 10 - 5 - 5 y DIFFERENTIAL - V - I III I I I I « I I I l l l l l l l 1977 Chart 9 LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES PER :ENT PER ANNUM 9 PER CENT PER / CANADA UNITED STATES 10 7 8 5 6 12 9 JAPAN Industrial 10 \ SWITZERLAND 7 8 5 GERMANY / 6 I 13 11 FRANCE 9 I I f 7 NETHERLANDS I 5 I I I I I i i 11 H i l l i i - : Jfl UNITED KINGDOM w\Js ^ 13 I I I 11 — _ U.S. CORPORATE Monthly -J / - Euro-Dm bonds - I 6 10 Euro-dollar bonds 8 1975 1977 12 - 10 Aaa bonds 17 15 12 U.S. CORPORATE Monthly 3 19 I I I I 1975 I ^ 8 — l u l l I 11 i l l I i l l i i h i l l i 1977 6 Chart 10 INDUSTRIAL STOCK INDEXES WEEKLY SERIES RATIO 1960s CALE » 180 140 UNITED STATES 100 IIATIO SCALE 80 II I I I I I I 60 UNITED KINGDOM 360 - 280 - JAPAN 200 "~j 160 I 120 I I I I I illllllllll 111 i 1111 i 11 I I I II ll I I I i l l W i l l II I I I 110 140 SWITZERLAND CANADA 100 so liiiiliiliilnlnlijJji so 1*6 t40 - FRANCE General Index 100 - GERMANY -J \ SO 60 I I 1975 I Illllllllll I I I I I I II I I I iihiliihi1977 1975 1977 SERIES NAME 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 . LAST VALUE PLOTTEC DATE VALUt JAN. JAN. JAN. JAN. JAN. JAN. JAN. JAN. JAN. JAN. 12 12 12 12 12 12 12 12 12 12 90.13 123.03 154.19 145.90 71.12 107.43 111.66 176.95 137.30 71.34 3-MONTH FORWARD EXCHANGE RATES CANADIAN DOLLAR U . K . POUND GERMAN MARK FRENCH FRANC SWISS FRANC DUTCH GUILDER JAPANESE YEN J A N . 12 JAN. 12 J A N . 12 J A N . 12 JAN. 12 JAN. 12 J A N . 12 -3.05 -9.62 0.42 -7.04 3.78 -1.07 -0.77 CHART 3 . GOLD PRICE I N LONDON U.S. CHART 4 . DOLLAR PER FINE OUNCE 131.33 JAN. 12 J A N . 12 JAN. 7 DEC. 2 4 JAN. 7 JAN. 7 JAN. 7 JAN. 7 DEC. 3 1 JAN. 7 4.55 4.88 14.75 8.70 4.50 4.54 7.00 9.75 6.20 0.31 JAN. JAN. NOV. JAN. JAN. JAN. JAN. 4.70 4.74 8.19 5.08 8.15 13.96 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 12 CALL MONEY RATES U . S . FEDERAL FUNDS OVERNIGHT EURO-DOLLAR DEPOSITS U . K . 2-DAY LOCAL AUTHORITY DEPOSITS CAN*PA GERMANY EURO-DM JAPAN FRANCE NETHERLANDS EURO-SWISS FRANC CHART 5 . JAN. 12 12 12 12 12 12 t 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 CHART 7 . SELECTED EURO-DOLLAR AND U . S . JAN. 12 JAN. 12 JAN. 12 J A N . 12 JAN. 12 JAN. 12 4.88 4.86 4.90 5.08 5.38 5.74 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 ADJ. FOR RESERVE REQUIREMENTS JAN. 12 JAN. 12 JAN. 12 JAN. 12 JAN. 12 JAN. 12 4.88 4.55 0.53 5.08 4.70 0.29 EURO-DOLLAR DEPOSIT INTERBANK STERLING (LONDON)» COVERED DIFFERENTIAL JAN. JAN. JAN. 12 12 12 5.08 4.34 0.73 U . S . COMMERCIAL PAPER CANADIAN FINANCE CO. PAPER, COVERED DIFFERENTIAL JAN. JAN. JAN. 12 12 12 4.68 5.10 —0.42 EURO-DOLLAR DEPOSIT INTERBANK DM (FRANKFURT), COVERED DIFFERENTIAL JAN. JAN. JAN. 12 12 12 5.08 5.16 -0.08 EURO-DOLLAR DEPOSIT SWISS DEPOSIT ( S F ) , COVERED DIFFERENTIAL JAN. JAN. JAN. 12 12 12 5.08 7.78 -2.71 CHART 8 . INTEREST ARBITRAGE, 3-MONTH FUNDS SERIES NAME CHART 9 . LONG TERM GOVERNMENT BOND Y I E L D S UNITED STATES GERMANY JAPAN (MONTHLY) SWITZERLAND CANADA FRANCE NETHERLANDS UNITED KINGDOM U.S. JAN. DEC. DEC. DEC. DEC. DEC. DEC. DEC. 7 31 31 24 24 31 31 6.90 7.26 8.73 4.42 8.47 10.72 7.43 13.82 CORPORATE AAA BONDS EURO-DM BONDS EURO-DOLLAR BONDS CHART 1 0 . LAST VALUE PL0T7E DATE VALUE DEC. NOV. NOV. 7.98 6.93 7.76 INDUSTRIAL STOCK INDEXES UNITED STATES JAPAN CANADA FRANCE UNITED KINGDOM SWITZERLAND GERMANY JAN. DEC. DEC. DEC. JAN. DEC. DEC. 7 24 17 31 7 24 31 109.35 247.67 88.97 91.79 87.02 69.69 90.95 F E D E R A L R E S E R V E statistical FOREIGN EXCHANGE RATES FOR THE WEEK ENDING JANUARY 1 4 , release JANUARY 1 7 . 1»77 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 . CENTS) J A N . 12 COUNTRY^ MONETARY UNIT J A N . 10 JAN. 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 PESATA RUPEE KRONA FRANC POUND 108.3700 5.92000 2.72500 99.0600 17.0300 26.3700 20.0400 41.8700 11.1000 170.8700 0.11420 0.34190 39.5500 5.0000 40.0500 94.6900 19.0100 3.1300 115.0500 1.4603 11.4500 23.6300 40.2800 170.8700 108.5000 5.90000 2.73500 99.0400 16.9800 26.3300 20.0800 42.0200 11.1000 170.7700 0.11410 0.34190 39.5300 5.0000 40.1100 94.8000 18.9900 3.1300 114.7900 1.4592 11.4500 23.8900 40.3300 170.7700 11 108.5000 5.93000 2.73180 99.5100 17.0300 26.3500 20.1100 42.0400 11.1000 170.6500 0.11410 0.34200 39.6200 5.0000 40.1500 94.8000 19.0200 3.1300 114.7900 1.4601 11.4500 23.8700 40.4000 170.6500 JAN. 13 108.5300 5.90000 2.71650 99.2900 16.8900 26.3000 20.0700 41.8300 11.1000 171.1000 0.11390 0.34180 39.6200 5.0000 39.9300 94.9600 18.9200 3.1300 114.7900 1.4588 11.4500 23.6800 40.2200 171.1000 JAN. 14 108.5200 5.88000 2.70400 99.8500 16.9300 26.2300 20.0600 41.7500 11.2500 171.0800 0.11390 0.34240 39.6600 5.0000 39.8000 94.9000 18.8500 3.1100 114.7500 1.4566 11.4000 23.6500 40.1200 171.0800
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