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P 1AH"? 6i0rU4S4 dViJiT 1 Selected Interest & Exchange Rates Weekly Series of Charts JANUARY 31,1977 DIVISION OF INTERNATIONAL FINANCE Prepared by the FINANCIAL MARKETS SECTION BOARD OF GOVERNORS FEDERAL RESERVE SYSTEM Washington, D C. 20551 e 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 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 (DASHED LINE) AVERAGES FOR WEEK ENDING WEDNESDAY RATIO SCALE MAY 1970 PARITY=100 RATIO SCALE MAY 1970 PARITY= 100 CANADIAN DOLLAR — 100 FOREIGN CURRENCY PRICE OF U.S. DOLLAR *0 80 I I 140 n i l M i l l 11 I FRENCH FRANC JAPANESE YEN - 120 ^ -j ^ 100 I I — — r i i i i n i i i i i i I SWISS FRANC GERMAN MARK DUTCH GUILDER — 140 1 11 v _ / 120 160 — 160 V ^ ~ x — - /t"\ / — x — i 1 100 1 1 BELGIAN FRANC -P^y\ J ~r^ " l 1 V V' i s 1 ^ V ' - / 120 V | I iI | 1 1 ! 1 1 1 I 1 1 I 1 100 1 1 I 1 100 100 \ 80 w 140 \ U.K. POUND ST v " ~ X 1 V \ v \ \z, V \ \ \ VJ / \ 1 V 1 1 1975 I I I 11 1 11 1 1 Ii l1l \; *! ^ v ^>1 - - V/ 1 60 1 \ \ 60 1 I\ 1V 1 1 ~ 1 ^ I T A L I A N LIRA ii h i III 1977 1 1 1 1 1 1975 1 i i l i i h i h i IlllllllllI 1977 60 Chart 2 3-MONTH FORWARD EXCHANGE RATES PREMIUM (+), OR DISCOUNT ( - ) AVERAGES FOR WEEK ENDING WEDNESDAY PER CENT PER ANNUM 6 — Aa I I CANADIAN DOLLAR I I I I I IIIIIIIII| PER CENT PER ANNUM U.K. POUND SWISS FRANC GERMAN MARK DUTCH GUILDER - 6 I I I II I I I I I I — JAPANESE YEN 2 per cent on scale equals 1 per cent on all others . FRENCH FRANC 12 24 1 1975 1977 1 1 . . I I I 1975 i i l i i l i i l u 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 1975 1977 Chart 4 CALL MONEY RATES W E E K L Y SERIES PER CENT PER ANNUM PER CENT PER ANNUM 16 16 12 .JAPAN U.S. FEDERAL FUNDS - - a - OVERNIGHT EURO-DOLLARS —I 1 1 1 I I I I I I I I I II l I I i l l I I I — 16 - — • I U K ' " 2 D A Y LOCAL AUTHORITY J 12 - FRANCE 8 - I 4 I I I I I 1 1 1 , , I , , 1111 111111111, i 12 CANADA - NETHERLANDS - I I I I I I GERMANY EURO-SWISS FRANC EURO- M 1975 iiIitlillii 1977 1975 1977 Chart 5 3-MONTH INTEREST RATES WEEKLY SERIES PER CENT PER ANNUM PER CENT PER ANNUM CANADIAN FINANCE CO. PAPER UNITED STATES CD's 14 — U.K. INTERBANK STERLING 10 ] - I I I GERMAN INTERBANK RATE I I I ill I IIIIIIIIII r JAPAN Monthly SWISS DEPOSIT RATE EURO-DOLLAR 1975 1977 1975 1977 6 Chart 6 EURO-DOLLAR DEPOSIT RATES L o n d o n AVERAGES FOR WEEK ENDING WEDNESDAY PER CENT PER ANNUM - PER CENT PER ANNUM 3-MONTH OVERNIGHT 6-MONTH 7-DAY __ 1-MONTH 1-YEAR L J J 1975 1977 1975 1977 • e # # e e e e e e # 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 OVERNIGHT E u r o - d o l l a r deposits 3-MONTH Euro-dollar deposits FEDERAL FUNDS 90-DAY CD's DIFFERENTIAL DIFFERENTIAL , r , h Adjusted for reserve requirements - \h J\l> < I "V" i i\ Adjusted for reserve requirements rV + 0 Iv-A / i_L I 1975 11111111111111111111111 i I I I I I I I 1I I I I I I I I 1I I 1977 1975 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 E U R O - D O L L A R DEPOSITS INTERBANK DM Covered Frankfurt INTERBANK STERLING Covered London E U R O - D O L L A R DEPOSITS DIFFERENTIAL DIFFERENTIAL I I I I III II I I11 II III III I I I II III I I II I I I I I I I CANADIAN FINANCE CO. PAPER, COVERED SWISS DEPOSITS SF COVERED EURO-DOLLAR DEPOSITS U.S. COMMERCIAL DIFFERENTIAL DIFFERENTIAL ii n il 1975 111 t i l l 1 1 1 1 ii h i h i 1977 1975 1977 Chart 9 LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES PER CENT PER ANNUM PER CENT PER ANNUM — CANADA UNITED STATES J v I I I _/\Aw~x I I f - - I I I I I JAPAN Industrial \ I I SWITZERLAND — GERMANY I I II III III I I I I - n FRANCE WuA UNITED KINGDOM f NETHERLANDS I I I I l — r n l i i l n l i i l 12 U.S. CORPORATE Monthly U.S. CORPORATE Monthly "ajTV 10 Aaa bonds — Euro-dollar bonds / - L-L Euro-Dm bonds I I 1976 I I 1977 I X 1 1 1 1 1 1 1 1 1 1 1 I 1975 1977 Chart 10 INDUSTRIAL STOCK INDEXES WEEKLY SERIES RATIO 1969=1 180 140 UNITED STATES 100 RATIO SCALE 1969=100 80 I IIIIIIII 60 UNITED KINGDOM 360 280 JAPAN 200 160 120 180 140 SWITZERLAND CANADA 100 80 60 180 140 FRANCE General Index GERMANY 100 80 111 l u l l I 60 1975 1977 1975 1977 S E R I E S 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 ITALIAN LIRA CHART 2 . GOLD PRICE U.S. CHART 4 . 26 26 26 26 26 26 26 26 26 26 111.49 173.81 134.91 70.84 JAN. JAN. JAN. JAN. JAN. JAN. JAN. 26 26 2O 26 26 26 26 -2.93 —7.66 0.54 -6.77 3.78 -1.23 —O. 4 3 JAN. 26 132.65 106.81 I N LONDON DOLLAR PER F I N E 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 . 90.64 124.29 151.45 143.04 71.58 JAN. JAN. JAN. JAN. JAN. JAN. JAN. JAN. JAN. JAN. 3—MONTH FORWARD EXCHANGE RATES CANADIAN DOLLAR U . K . POUND GERMAN MARK FRENCH FRANC SWISS FRANC DUTCH GUILDER JAPANESE YEN CHART 3 . LAST VALUE PLOTTET DATE VALUE JAN. JAN. JAN. JAN. JAN. JAN. JAN. JAN. JAN. JAN. 26 26 21 21 21 21 21 21 14 21 4.72 **.63 14.25 8.25 4.50 4.51 7.00 9.68 5.63 0.53 JAN. 26 J A N . 26 NOV. JAN. 26 JAN . 2 6 J A N . 26 J A N . 2O 4.75 4.64 8.19 5.18 8.27 13.16 3.75 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 S1ERLING SWISS DLPOSIT LAST VALUE PLOTTED DATE VALUE SERIES NAME CHART 6 . EURO-DOLLAR DFCPOSIT RATES: LONDON OVERNIGHT 7-DAY 1-MONTH 3-MONTH 6-MONTH 1-YEAR 7. JAN. 26 JAN. 26 JAN. 26 J A N . 26 J A N . 26 JAN. 26 SELECTED EURO-DOLLAR AND U . S . 4.63 4.70 4.65 5.18 5.68 6 . 06 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 EURODOLLAR DEPOSIT RATE U . S . C D ' S 1 6 0 - 8 9 DAYS) D I F F E R E N T I A L A D J . FOR RESERVE REQUIREMENTS JAN. JAN. JAN. JAN. JAN. JAN. 26 26 26 26 26 26 4.63 4.72 0.10 5.18 4.75 0.35 EURO-DOLLAR DEPOSIT INTERBANK STERLING ( L O N D O N ) , COVERED DIFFERENTIAL J A N . 26 JAN. 26 JAN. 26 5.18 5.50 -0.33 U . S . COMMERCIAL PAPER CANADIAN FINANCE CO. PAPER, COVERED DIFFERENTIAL JAN. JAN. JAN. 26 26 26 4.75 5.35 —O.OO EURO-DOLLAR DEPOSIT INTERBANK DM ( F R A N K F U R T ) , DIFFERENTIAL JAN. JAN. JAN. 26 26 26 5.18 5.18 —0.01 JAN. 26 JAN. 26 J A N . 26 5.18 7.53 -2.36 8. INTEREST ARBITRAGE, 3-MONTH FUNDS COVERED EURO-DOLLAR DEPOSIT SWISS DEPOSIT ( S F ) , COVERED DIFFERENTIAL SERIES NAME • CHART 9 . LAST VALUE PLOTTED DATE VALUE LONG TERM GOVERNMENT BOND YIELDS UNITED STATES GERMANY JAPAN (MONTHLY) SWITZERLAND CANADA FRANCE NETHERLANDS UNITED KINGDOM JAN. JAN. DEC. JAN. JAN. JAN. JAN. JAN. 21 14 14 21 7 14 21 7.. 2 9 6.. 9 5 8.. 7 3 4 .. 1 9 6 . ,54 10.• 7 1 7 . ,5b 12.34 U . S . CORPORATE AAA BONDS EURO-DM BONDS EUKO-DOLLAR BONDS CHART 1 0 . 7,.98 6 ., 9 3 7,,76 INDUSTRIAL STOCK INDEXES UNITED STATES JAPAN CANADA FRANCE UNITED KINGDOM SWITZERLAND GERMANY # DEC. NOV. NOV. JAN. 21 JAN. 7 JAN. 14 JAN. 7 JAN. 2 1 JAN. 21 J A N . 14 107. .03 2 5 2 ., 0 2 9 3 . .27 9 3 ., 6 1 9 1 . , 64 72.,36 9 2 .. 8 1 # # # # FEDERAL .8 H 10 - # # # # RESERVE # # ,totisticoi rei.o.e FOREIGN EXCHANGE RATES FOR THE WEEK ENDING JANUARY 2 8 , # JANUARY 2 6 , 1977 19 77 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 btLG1UM CANADA DENMARK 1-INLAND FKANCE GfcRMANY INDIA IRELAND ITALY JAPAN MALAYSIA MEXICO NETHERLANDS NEW ZEALAND NORWAY FUIOUGAL SCJUTM AFRICA SPAIN SRI LANKA SWEDEN SWITZERLAND UNITCD KINGDOM MONETARY UNIT JAN. DOLLAR SCHILLING FRANC DOLLAR KRONE. MAKKKA FRANC J . MARK RUPEE POUNU LIRA YfcN DOLLAR PE&O GUILDER DOLLAR KRONE tSCUDO RAND PcSATA RUPEE KRONA FRANC POUND 108.4200 5.86000 2.70600 98.9100 16.8400 26.2500 20.0400 41.3000 11.3000 171.8800 0.11330 0.34470 39.9500 4.4900 31#. 5 0 0 0 94.7400 18.7600 3.2000 115.0000 1.4552 11.4500 23.4600 39.6700 171.6600 24 JAN. 25 IRATE U . S . JAN. 106.4100 5.79000 2.68300 98.6400 16.7300 26.1100 20.0600 41.1900 11.3000 171.9500 0.11330 0.34570 39.9200 4.4900 39.3100 94.7900 18.6500 3.0*00 115.0000 1.4510 11.4500 23.3600 39.6000 171.9500 CENTS 26 108.7000 5.78000 2.68400 98.3800 16.7706 26.0800 20.0900 41.1400 11.3000 171.8400 0.11340 0.3^700 39.8400 4.5500 39.3200 94.7800 18.6600 3.0800 115.0000 1.4518 11.4500 23.3500 39.6100 171.8400 JAN. 27 JAN. 108.5300 5.76000 2.68500 97.9800 16.8100 26.1100 20.1200 41.2300 11.3000 171.6200 0.11340 0.34590 39.9400 4.5100 39.3200 94.7400 18.7200 3.0900 115.0000 1.4507 11.4500 23.3800 39.3200 171.6200 108.6500 5.81000 2.70100 97.7500 16.8000 26.1200 20.0700 41.1400 11.3500 171.3000 0.11330 0.34540 39.9000 4.4800 39.3500 95.0000 Id.7300 3.1000 115.0000 1.451b 11.4000 23.3500 39.5500 171.3000 28
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