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5 * >V ^ I- I " ',JT3 h C^AGO C^'r^S 5) tV S e l e c t e d Interest & Exchange Rates Weekly Series of Charts January 29,1979 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 2. DAILY CERTIFIED SPOT EXCHANGE RATES-H.10 RELEASE 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. CHARTS 1. SPOT EXCHANGE RATE INDICES 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 INDICES CHART 1 SPOT EXCHANGE INDICES DOLLAR PRICES OF FOREIGN CURRENCIES AND WEIGHTED AVERAGE VALUES (THIN LINE) AVERAGES FOR WEEK ENDING WEDNESDAY SCALE 1973=100 RATIO S C A L E 1 9 77 3 = 1 0 0 MARCH 120 100 FOREIGN CURRENCY PRICE OF U.S. DOLLAR I I I 80 CANADIAN DOLLAR I 60 GERMAN MARK FRENCH FRANC " I I i I i ; : 120 100 80 i 240 swiss JAPANESE YEN FRANC 200 nVV - v 160 - • ^ T T T T I 120 i 160 BELGIAN FRANC — 140 DUTCH GUILDER - 140 120 100 1 1 1 1 1 1 i l l ii h i l i i 100 ITALIAN LIRA U.K. POUND 80 60 1977 1979 1977 1979 CHART 2 3-MONTH FORWARD EXCHANGE RATES PREMIUM (+) OR ( - ) AVERAGES FOR WEEK ENDING WEDNESDAY PER C E N T PER ANNUM PER 6 CENT PER ANNUM — CANADIAN DOLLAR ITALIAN LIRA - - ~ I M l 1 1 1 U. K. POUND DUTCH GUILDER 12 GERMAN MARK — A . SWISS FRANC 6 — — f / — + I I I I I I I l h l l . l h . i i i I n i i i l i i l l l l n i FRENCH FRANC JAPANESE YEN Aj - i i i I ~ I 1977 1979 I I I I 1977 I 1979 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 240 220 12.5 Kg BARS AFTERNOON FIXING 200 PRICE 180 160 140 120 100 100 I I I I I I I I I I I I I I 1976 1977 1978 1979 CHART 4 CALL MONEY RATES WEEKLY SERIES PER :ENT PER ANNUM PER C E N T PER At 14 JAPAN 10 — - OVERNIGHT E U R O - D O L L A R S 6 U.S. FEDERAL FUNDS 2 i i l i i l i i l i i 16 U.K. 2 - D A Y AUTHORITY 12 LOCAL NETHERLANDS 8 4 y 0 " L 12 CANADA 8 FRANCE V. I I I II I I I I 1 4 8 EURO-SWISS FRANC GERMANY 4 + 0 4 1977 1979 1977 1979 » CHART 5 3-MONTH INTEREST RATES WEEKLY SERIES PER CENT PER ANNUM PER CENT PER 16 16 U.K. INTERBANK STERLING 12 U.S. CD'S WEIGHTED AVERAGE FOREIGN RATE 10 GERMAN INTERBANK RATE 1 h • JAPANESE BANK LOANS AND DISCOUNTS 6 — 1/ — - - - - # 2 I I I 1 1 1 n i l i h i l i i nil i hill i 1 1 1 1 1 Illllllllll 1 13 SWISS INTERBANK RATE # — . CANADIAN FINANCE CO. PAPER X 9 "# - - 5 ANNUM W 1 vV — I I I I I 1977 I M l n l u l n 1979 I I I I I 1977 I I 1979 CHART 6 EURO^D#LAR DEPOSIT RATES AVERAGES FOR LONDON WEEK ENDING WEDNESDAY PER, CENT PER ANNUM PER CENT PER At 12 OVERNIGHT 3-MONTH 1-MONTH 1-YEAR 8 4 12 8 4 12 8 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 12 - r 10 ry// - OVERNIGHT - f EURO-DOLLAR DEPOSITS 3-MONTH EURO-DOLLAR DEPOSITS J F * ZwVN^v FEDERAL FUNDS DASHED LINE / Art I I I i i i 90-DAY CD S DASHED LINE i I I I I I I I I I I I 11111111111 ii DIFFERENTIAL iiIi rlii DIFFERENTIAL ADJUSTED FOR RESERVE REQUIREMENTS - VL/wA/v^ I i i I I I 1977 FAVORS BORROWING IN U. S. IF POSITIVE - > I - V I l I l l I I I I, I I 11111111111 1979 i I i I I 1977 I I I I I I I I I I I I I I I I I I I I I I I 1979 CHART 8 INTEREST ARBITRAGE: 3-MONTH FUNDS DIFFERENTIAL: PLUS(+), INDICATES FAVOR DOLLAR ASSETS AVERAGES FOR WEEK ENDING WEDNESDAY : E N T PER A N N U M PER C E N T P E R Ah EURO-DOLLAR DEPOSITS CANADIAN FINANCE CO. PAPER, COVERED / ' INTERBANK STERLING COVERED LONDON U.S. COMMERCIAL PAPER DIFFERENTIAL f + DIFFEREN TIAL 0 I ' I 16 14 SWISS INTERBANK (SF) COVERED 12 INTERBANK DM 10 COVERED FRANKFURT 8 EURO-DOLLAR DEPOSITS 6 EURO-DOLLAR DEPOSITS DASHED LINE 4 2 DIFFERENTIAL *'• + 0 2 DIFFERENTIAL I 1977 I I I I I I I I I I I I II 1979 1977 1979 •V * '*+ CHART 9 LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES ENT PER ANNUM PER CENT PER AL 11 UNITED STATES — - CANADA 9 I I I I " h i 7 7 JAPAN INDUSTRIAL SWITZERLAND 5 3 GERMANY 1 16 FRANCE UNITED KINGDOM — 14 12 NETHERLANDS 10 U.S. CORPORATE I MONTHLY I U. S. I I I CORPORATE I iiliiliilii 8 MONTHLY 10 EURO-DOLLAR BONDS ~ \' 8 Aaa BONDS EURO-DM BONDS i 1977 i in 6 1979 1977 1979 CHART 10 INDUSTRIAL STOCK INDICES WEEKLY SERIES RATIO 1969= SCALE RATIO 140 120 UNITED STATES UNITED KINGDOM 100 80 360 320 280 240 200 140 120 SWITZERLAND CANADA 100 80 150 130 FRANCE GENERAL INDEX GERMANY 110 - 90 I 70 1977 1979 I I I l 1977 l I IIIIIIIIII 1979 LAST VALUE PLOTTED DATE VALUE SERIES NAME CHART 1 . SPOT EXCHANGE RATES AND INDICES WEEKLY AVERAGES, 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 INDICES, MARCH 1973 WEIGHTED AVERAGE EXCHANGE VALUE I N D I C E S , ( G - 1 0 COUNTRIES PLUS SWITZERLAND) CHART 2 . 24 24 24 24 24 24 24 24 24 54.26 0.50596 50.24 200.21 8 4 . 14 23.64 59.76 3.43691 0.11976 JAN. JAN. JAN. JAN. JAN. JAN. JAN. JAN. JAN. 24 24 24 24 24 24 24 24 24 1 5 2 . ,63 132..48 144, . 2 4 80..98 8 3 .. 8 6 1 0 6 . .53 1 9 2 .. 2 4 135.. 4 3 6 3 . .03 JAN. 2 4 JAN. 24 JAN. 24 JAN. 24 JAN. 2 4 JAN. 24 J A N . 24 JAN. 2 4 JAN. 24 JAN. 24 J A N . 24 8 7 . .62 1 4 6 .. 4 4 1 2 1 . .96 132.. 3 9 70.. 6 4 73..96 9 5 .. 5 6 1 7 6 . .02 1 2 3 .. 3 4 59. .06 91.. 5 0 BASE RATES = 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 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 LIRA SWEDISH KRONA JAN. JAN. JAN. JAN. JAN. JAN. JAN. JAN. JAN. MAR 1973 = 100 3-MONTH FORWARD EXCHANGE RATES, PREMIUM OR DISCOUNT CANADIAN DOLLAR U . K . POUND GERMAN MARK FRENCH FRANC SWISS FRANC DUTCH GUILDER JAPANESE YEN I T A L I A N LIRA JAN. 24 JAN. 24 J A N . 24 JAN. 24 JAN. 24 JAN. 24 JAN. 24 J A N . 24 0.05 -2.34 7.73 2.70 12.20 3.49 9.97 -1.76 LAST VALUE PLOTTED DATE VALUE • SERIES NAME CHART 3 . GOLD PRICE U.S. 4. I N LONDON, AFTERNOON F I X I N G DOLLARS PER F I N E OUNCE JAN. EURO-DOLLAR DEPOSIT R \ T E S : 10.05 10.36 11.63 10.45 3.60 2.88 4.13 6.00 8.15 0.06 JAN. JAN. JAN. JAN. JAN. JAN. JAN. 24 24 24 24 24 24 24 10.44 4.03 4.50 10.96 12.66 0.0 6.44 JAN. 24 JAN. 24 J A N . 24 JAN. 24 JAN. 24 JAN. 2 4 10.36 10.26 10.48 11.05 11.68 11.65 LONDON OVERNIGHT 7-DAY 1-MONTH 3-MONTH 6-MONTH 1-YEAR . JAN. 2 4 J A N . 24 J A N . 19 JAN. 12 JAN. 19 JAN. 19 JAN. 19 JAN. 19 JAN. 5 JAN. 19 3-MONTH INTEREST RATES U . S . 90-DAY C D ' S , SECONDARY MARKET GERMAN INTERBANK LOAN JAPANESE BANK LOANS & DISCOUNTS CANADIAN FINANCE PAPER INTERBANK STERLING SWISS INTERBANK LOAN WEIGHTED AVERAGE FOREIGN INTEREST RATE ( G - 1 0 COUNTRIES PLUS SWITZERLAND) CHART 6 . 232.68 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 . 24 SELECTED EURO-DOLLAR AND U . S . MONEY MARKET RATES OVERNIGHT EURO-DOLLAR DEPOSITS U . S . FEDERAL FUNDS DIFFERENTIAL A D J . FOR RESERVE REQUIREMENTS JAN. JAN. JAN. 24 24 24 10.36 10.05 0.31 3-MONTH EURO-DOLLAR DEPOSIT RATE U . S . 90-DAY C D ' S , SECONDARY MARKET DIFFERENTIAL JAN. JAN. JAN. 24 24 24 11.05^ 10.44 0.61 LAST VALUE PLOTTED DATE VALUE SERIES NAME CHART 8 . INTEREST ARBITRAGE, 3-MONTH FUNDS JAN. JAN. JAN. 24 24 24 11.05 10.32 0.73 U . S . COMMERCIAL PAPF D CANADIAN FINANCE PAPER, COVERED DIFFERENTIAL JAN. JAN. JAN. 24 24 24 10.19 11.01 -0.82 EURO-DOLLAR DEPOSIT INTERBANK D«* ( F R A N K F U R T ) , DIFFERENTIAL JAN. JAN. JAN. 24 24 24 11.05 11.76 -0.71 J A N . 24 JAN. 24 J AN. 24 11.05 12.20 -1.15 JAN. JAN. DEC. JAN. JAN. JAN. JAN. JAN. 9.16 6.39 6.10 3.12 9.90 9.62 7.83 11.94 EURO-DOLLAR. DEPOSIT INTERBANK STERLING ( L O N D O N ) , DIFFERENTIAL COVERED COVERED EURO-DOLLAR DEPOSIT SWISS INTERBANK, COVERED DIFFERENTIAL CHART 9 . LONG TERM GOVFRMENT BOND YIELDS UNITED STATES GERMANY J A ° A N (MONTHLY) SWITZERLAND CANADA FRANCE NETHERLANDS UNITED KINGDOM U.S. 12 12 5 5 12 CORPORATE AAA BONDS EURO-DM BONDS EURO-DOLLAR BONDS CHART 1 0 . 19 12 INDUSTRIAL UNITED STATES JAPAN CANADA FRANCE UNITED KINGDOM SWITZERLAND GERMANY DEC. NOV. NOV. 9.16 6.30 8.45 STOCK I N D I C E S J A N . 19 J A N . 12 8 DEC. DEC. 22 J A N . 19 J A N . 12 J A N . 12 1 0 3 ,. 6 6 3 0 4 .. 2 5 1 1 1 ., 9 4 1 2 4 .. 6 0 1 1 4 .. 0 8 7 5 .. 9 9 1 0 9 .. 3 1 4 yiiHh H-1 F E D E R A L ° R E S E R V E statistical FOREIGN EXCHANGE RATES FOR THE WEEK ENDING JANUARY 2 6 , release JANUARY 2 9 , 1979 1979 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 MONETARY UNIT JAN. AUSTRALIA AUSTRIA BELGIUM CANADA DENMARK <= INLAND 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 KRONA FRANC POUND 114.0000 7.41565 3.43525 84.2100 19.5313 25.3036 23.6127 54.2299 12.1500 199.8700 0.11969 0.50600 45.5100 4.4053 50.2260 105.6000 19.7044 2.1413 115.0000 1.4341 6.4400 22.9674 59.7372 199.8700 22 JAN. 23 (RATE U . S . JAN. 113.9300 7.40055 3.42818 84.1500 19.5122 25.2334 23.5627 54.0921 12.1500 199.8700 0.11972 0.50531 45.4550 4.4053 50.1002 105.4500 19.6657 2.1386 115.0000 1.4353 6.4400 22.9305 59.5238 199.8700 CENTS) 24 113.7800 7.39645 3.43525 84.0200 19.5522 25.2270 23.6351 54.215? 12.1500 200.0000 0 . 11980 0.50582 45.5050 4.4033 50.2396 105.4500 19.6947 2.1322 NA 1.4360 6.4400 2 3.0044 59.7015 200.0000 JAN. 25 113.6500 7.34484 3.41880 83.9275 19.4269 25.1794 23.5018 53.8851 12.1500 199.3000 0.11937 0.50251 45.4750 4.4033 49.8753 105.3000 19.5580 2.1231 NA 1.4327 6.4400 22.8728 59.2066 199.3000 JAN. 26 113.6000 7.37803 3.41997 83.7650 19.4647 25.1826 23.5128 53.9084 12.0700 199.5000 0.11926 0.50113 45.4450 4.4033 49.9750 105.4000 19.6213 2.1277 NA 1.4349 6.4400 22.9016 59.2592 199.5000
@FedFRASER