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m >» Selected Interest & Exchange Rates Weekly Series of Charts JANUARY J , 1978 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 RATESH.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 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 RATIO SCALE MAY 1970 PARITY=100 k SCALE ^ • 9 7 0 PARITY= 100 120 CANADIAN DOLLAR 100 — FOREIGN CURRENCY PRICE OF U.S. DOLLAR 90 100 1 80 1 1 1 I I I 140 I l l l l l l n h l I 1 1 1 1 111 ILL ILL11 I I I I I I T M 80 - 120 - 100 - 120 FRENCH FRANC JAPANESE YEN 120 - I1 100 I I I 11 1 I I I I I MIMIMIM I I I SWISS FRANC GERMAN MARK DUTCH GUILDER BELGIAN FRANC — ITALIAN LIRA U.K. POUND ¥. \ I I I I I 1975 V I I I V-V I 1977 1975 1977 w CHART 2 3-MONTH FORWARD EXCHANGE RATES PREMIUM (+) OR ( - ) AVERAGES FOR WEEK ENDING WEDNESDAY PER :ENT PER ANNUM 6 + CANADIAN DOLLAR 0 6 PER CENT PER ANNUM + 0 DUTCH GUILDER U. K . P O U N D /VJV - - + 0 6 12 - 18 6 I I I 12 SWISS FRANC GERMAN MARK 6 # + 0 6 6 6 12 JAPANESE YEN 2 PER CENT ON SCALE EQUALS 1 PER CENT ON ALL OTHER + 0 FRENCH FRANC 6 - 12 12 - 24 1975 1977 1975 1977 CHART 3 PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY KU.S. U.S. DOLLARS PER FINE OUNCE DOLLARS PER FINE OUNCE —I 200 180 180 12.5 Kg BARS AFTERNOON FIXING PRICE 160 160 140 140 120 120 100 100 80 80 1975 # *• 1977 CHART 4 CALL MONEY RATES WEEKLY SERIES PER CENT PER ANI PER ( M PER ANNUM 16 4 U.S. FEDERAL FUNDS LRY\ JAPAN 12 - 8 4 OVERNIGHT EURO-DOLLARS 16 — - U.K. 2 - D A Y LOCAL AUTHORITY 12 — V FRANCE AJ ^ 8 I 4 I I 12 NETHERLANDS CANADA 8 4 0 20 16 12 EURO-DM / 8 EURO-SWISS FRANC GERMANY 4 + 0 4 1975 1977 1975 1977 CHART 5 3-MONTH INTEREST RATES WEEKLY SERES PER CENT PER ANNUM PER CENT PER ANNUM EURO-DOLLAR CANADIAN FINANCE CO. PAPER U.S. CD S U.K. INTERBANK STERLING GERMAN INTERBANK RATE - - — \ 10 J JAPANESE BANK LOANS AND DISCOUNTS SWISS INTERBANK RATE - - I I I I I 1975 I 1977 1975 1977 CHART 6 EURO-DOLLAR DEPOSIT RATES LONOON AVERAGES FOR WEEK ENDING WEDNESDAY PER CENT PER ANNUM PER CENT PER ANNUM OVERNIGHT 3-MONTH 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 FAVORS BORROWING OVERNIGHT EURO-DOLLAR DEPOSITS 3-MONTH EURO-DOLLAR DEPOSITS FEDERAL FUNDS DASHED LINE 90-DAY C D ' S DASHED LME DEFERENTIAL ADJUSTED FOR RESERVE REQUIREMENTS DIFFERENTIAL ADJUSTED FOR RESERVE REQUIREMENTS I I I1 I1 1 I I1 II 1977 1975 IN U. S. IF POSITIVE / H I H I I I 1 I l l I I 1 I I 1 11 I I M 1 1 I1 M 1 M 1975 1977 CHART 8 INTEREST ARBITRAGE: 3-MONTH FUNDS DIFFERENTIAL: PLUSM. INDICATES FAVOR DOLLAR ASSETS AVERAGES FOR WEEK ENDING WEDNESDAY PER CENT PER ANNUM PER CENT PER ANNUM Mi [lV EURO-DOLLAR DEPOSITS INTERBANK DM INTERBANK STERLING COVERED FRANKFURT COVERED LONDON EURO-DOLLAR DEPOSITS DASHED LINE DIFFERENTIAL I I 1 I I I DIFFERENTIAL I liiliiliiliiliilnlii I I liiliiln CANADIAN FINANCE CO. PAPER, COVERED EURO-DOLLAR DEPOSITS 12 12 U.S. COMMERCIAL PAPER SWISS INTERBANK (SF) COVERED DASHED LINE DASHED LINE DIFFERENTIAL DIFFERENTIAL I I 1975 I l u l l i l l i l l i l n l i ' I ' ' I ' il I 1977 I I'll II IIl u l l IIIIlull I L 1975 1977. CHART 9 LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERES :ENT PER ANNUM PER CENT PER Al INUM CANADA UNITED STATES 10 8 6 8 JAPAN INDUSTRIAL SWITZERLAND 6 GERMANY 4 2 18 16 UNITED KINGDOM FRANCE 14 12 NETHERLANDS 10 U. S. CORPORATE 11 MONTHLY U. S. CORPORATE MONTHLY / \ EURO-DOLLAR BONDS A 9 Aaa BONDS 7 EURO-DM BONDS 5 1975 1977 1975 1977 CHART 10 INDUSTRIAL STOCK INDEXES WEEKLY SERES RATIO SCALE DO 1969= 180 140 UNITED STATES 100 RATIO SCALE 1969=100 80 60 UNITED KINGDOM 360 280 200 160 20 80 40 SWITZERLAND CANADA V WX- 100 80 - I 60 I I I I I 180 - - 140 FRANCE GENERAL INDEX — - GERMANY 100 80 - I 60 1975 1977 I I I I 1975 I 1977 SERIES NAME HART 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 . GOLD PRICE U.S. CHART 4 . 28 26 28 28 28 28 28 28 28 26 85 . 1 4 149 . 2 2 170 . 7 4 156 . 2 4 78 . 0 4 98 . 6 5 115 . 7 9 213 . 6 3 149 . 6 6 71 .29 DEC. DEC. DEC. DEC. DEC. DEC. DEC. 28 28 28 28 26 26 26 0.05 0.45 4.47 -6.47 5.64 0.90 4.69 DEC. 28 162.10 I N LONDON DOLLAR PER FINE OUNCE CALL MONEY RATES U . S . FEDERAL FUNDS OVERNIGHT EURO-DOLLAR DEPOSITS U . K . 2 - D A Y LOCAL AUTHORITY DEPOblTb CANADA GERMANY EURO-DM JAPAN FRANCE NETHERLANDS EURO-SWISS FRANC CHART 5 . DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. 3-MONTH FORWARD EXCHANGE RATES CANADIAN DOLLAR U . K . POUND GERMAN MARK FRENCH FRANC SWISS FRANC DUTCH GUILDER JAPANESE YEN CHART 3 . LAST VALUE PLOTTED DATE VALUE DEC. DEC. DEC. DEC. DEC. LEO. DEC. DEC. DtC . OtC. 26 26 23 16 23 23 23 23 16 23 6.66 6.62 6.88 7.05 1.50 3.04 5.25 9.13 4.41 0.24 DEC. DtC. DEC. DEC. DEC. DEC . DEC. 28 2ti 26 2o 26 28 28 6.70 3.67 5.75 7.33 7.00 6.75 1.56 3-MONTH INTEREST RATES U . S . C D ' S ( 6 0 - 6 9 DAYS) GERMAN INTERBANK LOAN JAPANESE BANK LOANS & 0 1 SCOUNTS EURO-DOLLAR DEPOSIT CANADIAN FINANCE COMPANY PAPER INTERBANK STERLING SWISS INTERBANK LOAN LAST VALUc PLOTTED LATE VALUE SERIES NAME CHART 6 . EURO-DOLLAR DEPOSIT RATES: LONDON OVERNIGHT 7-DAY 1-MONTH 3-MONTH 6-MONTH 1-YEAR 26 2o 26 26 2b 26 6.62 7.3V 6.96 7.33 7.66 7.67 28 28 26 26 26 26 6.62 6.66 0.24 7.33 6.70 0.51 EURO-DOLLAR DEPOSIT INTERBANK STERLING (LONDON), CUVtRED DIFFERENTIAL DcC. 2 6 DEC. 26 DEC. 26 7.33 7.20 0 . 13 U . S . COMMERCIAL PAPER CANADIAN FINANCE CO. PAPER, COVERED DIFFERENTIAL DEC. 26 D t C . 28 DEC. 26 b . 66 7.05 -0.40 EURO-DOLLAR DEPOSIT INTERBANK DM ( F R A N K F U R T ) , COVERED DIFFERENTIAL DEC. 26 DEC. 26 DEC. 2 6 7.33 8.15 EURO-DOLLAR DEPOSIT SWISS INTERBANK, COVERED DIFFERENTIAL DEC. cb DEC. 26 DEC. 26 SELECTED EURO-DOLLAR AND U . S . MONEY MARKET RATES OVERNIGHT EURO-DOLLAR DEPOSITS U . S . FEDERAL FUNDS D I F F E R E N T I A L A D J . FOR RESERVE REQUIREMENTS 3-MONTH EURO-DOLLAR DEPOSIT RATE U . S . C D ' S ( 6 0 - 8 9 DAYS) D I F F E R E N T I A L A D J . FOR RESERVE REQUIREMENTS INTEREST ARBITRAGE, 3-MONTH FUNDS Or M CHART 8 . DEC. DEC. DEC. DEC. DEC. DEC. 1 c CHART 7 . DEC. DEC. DEC. DtC. DEC. DEC. 7.33 7.20 0 . 13 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. DEC. DEC. NUV. DEC. DEC. DEC. DEC. DEC. 23 16 fc.56 16 16 2 16 23 7.73 5.79 3.62 b.7o 10.65 7.40 4.66 CORPORATE AAA BONDS EURO-DM bONDS EURO-DOLLAR BONDS CHART 1 0 . l a s t value plotted DATE VALUE NOV. NUV. NOV. o.Oti 6.45 7.85 I N D U S T R I A L STOCK INDEXES UNITED STATES JAPAN CANADA FRANCE UNITED KINGDOM SWITZERLAND GERMANY DEC. DEC. DEC. OtC. DEC. DEC. DEC. 23 9 2 9 23 23 16 95.65 239.34 85.60 65.31 115.22 75.74 96.82 .•^QFCPVY • F E D E R A L R H . 10 E S E R V E s t a t i s t i c a l JANUARY FOREIGN EXCHANGE RATES FOR THE WEEK ENDING DECEMBER 3 0 , r e l e a s e 4, 1978 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: COUNTRY AUSTRALIA AUSTRIA BELGIUM CANADA DENMARK FINLAND FRANCE GERMANY INDIA IRELAND ITALY JAPAN MALAYSIA MEXICO NETHERLANDS NEW ZEALAND NORWAY PORTUGAL SOUTH AFRICA SPAIN S R I LANKA SWEDEN SWITZERLAND UNITED KINGDOM MONETARY UNIT 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 DEC. 2 6 H 0 L I D A Y DEC. 2 7 (RATE U . S . CENTS) DEC. 28 113.4500 6.47250 2.99000 91.2300 17.0000 24.5100 20.3975 46.5200 11.8000 187.8000 0.11400 0.41430 42.0600 4.4100 42.9500 100.5000 19.1500 2.4700 115.0500 1.2270 6.2000 21.0800 48.6000 187.8000 113.9000 6.58000 3.02700 91.1300 17.2100 24.6800 21.2100 47.0700 11.8000 189.4000 0.11435 0.41590 42.1000 4.4100 43.5700 101.7500 19.4000 2.4800 115.0500 1.2341 6.2000 21.2800 49.1600 189.4000 DEC. 2 9 DEC. 114.1000 6.60500 3.07000 91.3800 17.3300 24.8450 21.2900 47.5900 11.8000 191.0000 0.11460 0.41660 42.2000 4.3850 44.0000 101.6500 19.4650 2.4950 115.1500 1.2345 6.2000 21.4000 49.7000 191.0000 113.8000 6.58000 3.06000 91.3600 17.3500 24.8400 21.2600 47.6700 12.1500 191.7000 0.11480 0.41670 42.2200 4.3575 44.2500 101.6000 19.5000 2.4950 115.0000 1.2345 6.2000 21.4000 50.1700 191.7000 30
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