The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
Federal Reserve Bant of Son Francisco JAN 1 1 1977 LIBRARY JANUARY 3,1977 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 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 a 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 (DASHED LINE) AVERAGES FOR WEEK ENDING WEDNESDAY RATIO SCALE MAY 1970 PARITY: 100 RATIO SCALE MAY 1970 PARITY= 100 CANADIAN DOLLAR 100 120 FOREIGN CURRENCY PRICE OF U.S: DOLLAR 90 80 X v - ' II I I I l u l l 111 I I n i l 140 A — JAPANESE YEN v I IIIIIII — FRENCH FRANC 120 J V / — 100 I I I I I i i l i H i i l ii I I 11llll111II I I I I I I II I I I I I llll I I 200 200 - - 180 *60 140 120 100 180 - m GERMAN MARK i l SWISS FRANC J - a / / A -fvV / / / ' _ J J V-i J V V V , / 160 I y \[ / i f 7 i \ f r ^ / J ""-V J . r 1 1 1 l 160 i 11111111111 J,1111 l u l l I i i — 140 — 120 — I i i I I I 11 l u l u i i i i i i i i i u i 100 160 DUTCH GUILDER ~~ 140 h BELGIAN FRANC 140 ~ -i 120 "7 100 I Illill ill I " I [ J \ / v \/ < v i —r-\— I 120 ,— N/ \ / ~ I I I I I I 111 111 111 I I I l l l l l l l l l l l 120 — U.K. POUND ITALIAN LIRA 100 I 80 \ lI \\ , V- vx A V - \ 60 __ \ V? V I I I I I 1974 I lllllllllll uliiliilii 1976 I' ' ' ' I " I' I 1974 1»76 100 Chart 2 3-MONTH FORWARD EXCHANGE RATES PREMIUMS (+), OR DISCOUNT ( - ) AVERAGES FOR WEEK ENDING WEDNESDAY PER ENT PER ANNUM 6 CANADIAN DOLLAR 0 6 0 PER CENT PER ANNUM SWISS FRANC U.K. POUND -- • 6 12 6 0 I I I I I I I " I I I DUTCH GUILDER 12 GERMAN MARK 6 + 0 - 0 0 - I I I I I I 12 L _ U illllllllll 6 FRENCH FRANC — JAPANESE YEN 2 per cent on scale equals 1 per cent on all others 12 0 + 0 6 12 12 24 111 I I I 111111 M 1974 1976 l l l l l l 1974 1976 Chart 3 PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY U.S. DOLLARS PER FINE OUNCE 210 12.5 Kg BARS Afternoon fixing price 1*74 t976 Chart 4 CALL MONEY RATES WEEKLY SERIES PER CENT PER ANNUM 15 PER CENT PER ANNUM [ ~ OVERNIGHT EURO-DOLLARS 15 JAPAN U. S. FEDERAL FUNDS - 5 U.K. 2 - D A Y LOCAL AUTHORITY FRANCE 15 /U\ 10 I I I I II 11JII I I I I I I lllllllllll 0 15 NETHE RLANDS CANADA I I 10 I I V I I I I I liJfMiiiliiMiluli. I EURO-SWISS FRANC GERMANY EURO-DM 1*74 1976 1974 1976 Chart 5 3-MONTH INTEREST RATES WEEKLY SERIES PER CENT PER ANNUM 12 PER CENT PER At INUM UNITED STATES CD's CANADIAN FINANCE CO. PAPER 12 ) 8 8 4 4 16 U.K. INTERBANK STERLING GERMAN INTERBANK RATE 16 12 12 8 8 4 4 14 EURO-DOLLAR - — - 1 SWISS DEPOSIT RATE Y 10 6 JAPAN Monthly l 1974 1976 I I 10 r 6 ^ L 2 I I 1974 I 1976 Chart 6 EURO-DOLLAR DEPOSIT RATES London AVERAGES FOR WEEK ENDING WEDNESDAY PER CENT PER ANNUM PER CENT PER ANNUM 16 16 3-MONTH Illllllllll 7-DAY 6-MONTH v V s Illllllllll 1-MONTH 1-YEAR l l 111 IJ l i 1 1974 1976 1 i! 111;! I •! 1974 1976 Chart 7 SELECTED EURO-DOLLAR AND U.S. MONEY MARKET RATES AVERAGES FOR WEEK ENDING WEDNESDAY PER CENT PER ANNUM PER CENT PER ANNUM 15 15 3-MONTH Euro-dollar deposits FEDERAL FUNDS 10 - 10 OVERNIGHT Euro dollar deposits 5 90 DAY CD's - - MA. * 1 ' , /Ml! 0 http://fraser.stlouisfed.org/ Favnrc R n r r n w i n n Federal Reserve Bank of St. Louis v '/ 1974 in I I S if Pmcitu VV , ; ' \ ; v v - ' n v\. ,\J ^"V\ DIFFERENTIAL Adjusted for reserve requirements DIFFERENTIAL Adjusted for reserve requirements M111111111 ih 11111111111 1976 1—1 I ' ' l ' ' l ' ' 11111111 1974 1976 ' ' Chart 8 INTEREST ARBITRAGE: 3-MONTH FUNDS AVERAGES FOR WEEK ENDING WEDNESDAY DIFFERENTIAL: PLUS(+), INDICATES FAVOR DOLLAR ASSETS ENT PER ANNUM PER CENT PER M 20 15 INTERBANK DM Covered Frankfurt INTERBANK STERLING Covered London 15 EURO-DOLLAR DEPOSITS 10 10 EURO-DOLLAR DEPOSITS 5 + 5 - \ J 0 w + DIFFERENTIAL w 0 y DIFFERENTIAL 5 5 10 10 I I I I 1111111 1 1 l l l l l I I I I 15 CANADIAN FINANCE CO. PAPER, COVERED 15 EURO-DOLLAR DEPOSITS SWISS DEPOSITS (SF) COVERED 10 5 10 5 U.S. COMMERCIAL PAPER Vl • 0 n'\\l 0 t A , DIFFERENTIAL DIFFERENTIAL * V 5 I ill Hill 1974 llllll1111 1976 5 1974 1976 Chart 9 LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES PER PER CENT PER A :ENT PER ANNUM CANADA 9 10 UNITED STATES 7 8 5 6 12 9 JAPAN / x \ Industrial id SWITZERLAND 7 " \ 8 5 GERMANY > 11 111 111 111 3 14 18 UNITED KINGDOM T 12 FRANCE 10 w 16 14 12 8 NETHERLANDS - 10 6 I 4 I I I I I 8 12 12 U S. CORPORATE Monthly U.S. CORPORATE Monthly 10 / / Aaa bonds 8 Euro-dollar bonds 10 V 8 Euro-Dm bonds 6 6 1974 1976 1974 1976 Chart 10 INDUSTRIAL STOCK INDEXES WEEKLY SERIES RATIO SCALE 1969~100 180 UNITED STATES 100 f 60 — - I 45 400 I I I I I RATIO SCALE 1969=100 — — 300 140 — vvZ^X JAPAN UNITED KINGDOM ~ 100 AV\ 1 200 60 1 1 1 1 1 1 100 I I III III III 111 M 111111 I I I 240 JL - 100 / 1 1 1 1 1 1 SWITZERLAND — SAx CANADA — 60 - 140 60 III I I III III 11111111111 I I I 180 I I I III i l l ii h i 35 180 FRANCE General Index - 100 — \y GERMANY 60 45 J 1 - 180 —Li.. I Villiiliilii 100 60 1 1 1 i i 1974 i I I III III I I ImImImIm 1976 1 1 1 1 1 1 1974 11 11 i l l i l l 1 45 1976 SERIES NAME CHART 1 . SPOT EXCHANGE KATES U . S . DOLLAR, WEIGHTED AVERAGE JAPANESE YEN GERMAN MARK DUTCH GUILDER U . K . POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC BELGIAN FRANC ITALIAN LIRA CHART 2 . DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. 29 2V 29 29 29 29 29 29 29 29 90.10 122.93 154.94 146.68 70.59 106.72 111.68 178.63 136.47 71.60 DEC. DEC. DEC. DEC. DEC. DEC. DEC. 29 29 29 29 29 29 29 -3 .01 -10.39 0.09 —7 . 32 3.01 -1.34 -1.43 DEC. 2 9 133.22 DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. 29 29 24 17 24 17 24 24 17 17 4.66 4.75 15.00 8.75 5.20 5.00 7.50 10.75 6.49 0.36 DEC. DEC. NOV. DEC. DEC. DEC. DEC. 29 29 4.50 4.67 8.19 5.09 8.31 14.06 4.00 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. CHART 4 . DOLLAR PER FINE OUNCE CALL MONEY RATES U . S . FEDERAL FUNDS OVERNIGHT EURO-DOLLAR DEPOSITS U . K . 2 - D A Y LOCAL AUTHORITY DEPOSITS CANADA GERMANY EURO-DM JAPAN FRANCE NETHERLANDS EURO-SWISS FRANC CHART 5 . LAST VALUE PLOTTED DATE VALUE 3-MONTH INTEREST RATES U . S . C D ' S ( 6 0 - 8 9 DAYS) GERMAN INTERBANK LOAN JAPANESE COMPOSITE LOAN EURO-DOLLAR DEPOSIT CANADIAN FINANCE COMPANY PAPER INTERBANK STERLING SWISS DEPOSIT 29 29 29 29 LAST VALUE PLOTTED DATE VALUE SERIES NAME CHART 6 . EURO-DOLLAR DEPOSIT RATES: LONDON # 29 29 29 29 29 29 4.75 5.34 4.91 5.09 5.38 5.61 29 29 29 29 29 29 4.75 4.66 0.29 5.09 *•50 0.51 EURO-DOLLAR DEPOSIT INTERBANK STERLING ( L O N D O N ) , COVERED DIFFERENTIAL DEC. 29 DEC. 29 DEC. 29 5.09 3.67 1.42 U . S . COMMERCIAL PAPER CANADIAN FINANCE CO. PAPER, COVERED DIFFERENTIAL DEC. 29 DEC. 29 DEC. 29 4.63 5.30 -0.67 EURO-DOLLAR DEPOSIT INTERBANK DM (FRANKFURT), COVERED DIFFERENTIAL DEC. 29 DEC. 29 DEC. 29 5.09 4.96 0.13 EURO-DOLLAR DEPOSIT SWISS DEPOSIT ( S F ) , COVERED DIFFERENTIAL DEC. 29 DEC. 2 9 DEC. 29 5.09 7.01 -1.92 DEC. DEC. DEC. DEC. DEC. DEC. OVERNIGHT 7-DAY 1-MONTH 3-MONTH 6-MONTH 1-YEAR r . SELECTED EURO-CULLAR 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 . C D ' S ( 6 0 - 8 9 DAYS) DIFFERENTIAL A D J . FOR RESERVE REQUIREMENTS i. INTEREST ARBITRAGE, DEC. DEC. DEC. DEC. DEC. DEC. 3-MONTH FUNDS S E R I E S NAME CHART 9 . LONG TERM GOVERNMENT BOND Y I E L D S U N I T E D STATES GERMANY JAPAN (MONTHLY) SWITZERLAND CANADA FRANCE NETHERLANDS U N I T E D KINGDOM U.S. DEC. DEC. NOV. DEC. DEC. DEC. DEC. DEC. 24 17 17 17 3 17 17 6 ,. 8 5 7 .27 8 ,. 8 0 4 ,. 4 6 8 .. 7 3 1 0 .. 6 5 7 .. 6 5 1 4 ,. 3 1 CORPORATE AAA BONDS EURO-OM BONDS EURO-DOLLAR BONDS CHART 1 0 . LAST VALUE PLOTTFL DATE VALUE INDUSTRIAL U N I T E D STATES JAPAN CANADA FRANCE U N I T E D KINGDOM SWITZERLAND GERMANY NOV. NOV. NOV. 8.25 6.93 7.76 STOCK I N D E X E S DEC. NOV. DEC. DEC. DEC. DEC. DEC. 24 26 10 3 17 17 17 108.24 230.23 *8.51 88.16 79.75 68.16 89.92 , # m , F E D E R A L H.10 R E S E R V E statistical _ JANUARY FOREIGN EXCHANGE RATES FOR THE WEEK ENDING DECEMBER 31, release 3, 1977 1976 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 DEC. 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 . 7 0 0 0 5.95000 2.7690 0 98.6400 17.2700 26.4400 20 . 0800 42.3300 11.1500 169.4000 0.11420 0.34210 39.5300 4.9600 40.5200 94.0000 19.2800 3.1700 115.0000 1 .4637 11.2500 24.2100 40 . 8600 169.4000 27 DEC. (RA-rE U . S . DEC. 28 108.8000 5.97000 2.77800 98.7700 17.3200 26.5000 20.1600 42.4000 11.1500 169.7000 0.11420 0.34230 39.5200 4.9900 40.6100 94.0000 19.3600 3.1700 115.0000 1.4646 11.2500 24.2700 40.8000 169.7000 CENTS 29 108.4500 5.95000 2.78300 96.6800 17.3200 26.5100 20.1600 42.4600 11.1500 170.6000 0.11420 0.34140 39.4900 4.9900 40.7000 94.4500 19.3400 3.1700 115.0000 1.4646 11.2500 24.2400 40.8800 170.6000 DEC. 30 108.8000 5.97000 2 .78500 98.6100 17.3200 26.5400 20.1500 4L . 4 1 0 0 11.1500 169.9500 0.11420 0.34130 39.4600 4.9900 40.7100 95.0000 19.3500 3.1700 115.0000 1 .**646 11.2500 24.2700 40.9200 169.9500 DEC. 31 108.9000 5.96000 2.78350 99.0700 17.2700 26.5400 20.1400 42.3700 11.2000 170.1000 0.11460 0.34120 39.4200 4.9300 40.6900 94.5000 19.3600 3.1*00 115.0000 1.4630 11.4000 24.2500 40.6600 170 . 1 0 0 0
@FedFRASER