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s-y^o o* Selected Interest & Exchange Rates Weekly Series of Charts JANUARY 9, 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 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 SPOT EXCHANGE RATES DOLLAR PRICES OF FOREIGN CURRENCIES AND WEIGHTED AVERAGE VALUES (THIN LINE) AVERAGES FOR WEEK ENDING WEDNESDAY RATIO J MAY 1970 PARIT '=100 >CALE 70 PARITY= 100 120 — 100 I FOREIGN CURRENCY PRICE OF U.S. DOLLAR I CANADIAN DOLLAR 11 I — M | I I | I I | M | | I I | 80 — 140 FRENCH FRANC GERMAN MARK 120 100 240 - - SWISS FRANC \ JAPANESE YEN f - 200 S 180 160 - 140 120 160 DUTCH GUILDER tt^~\ BELGIAN FRANC / I I I | | || ~ 140 — 120 M l . . I..1.7 100 110 : — U.K. POUND 1 \ ITALIAN LIRA VV - - 90 70 1 V ^ - 1 1976 1978 1 1 50 1976 1978 CHART 2 3-MONTH FORWARD EXCHANGE RATES PREMIUM (+) OR ( - ) AVERAGES FOR WEEK ENDING WEDNESDAY PER CENT PER ANNUM 6 r~ + 0 CANADIAN DOLLAR 6 6 DUTCH GUILDER + 0 U. K. POUND 6 12 18 SWISS FRANC 6 GERMAN MARK + 0 + 0 FRENCH FRANC JAPANESE YEN 6 12 1976 1978 1976 1978 CHART 3 PRICE OF GOLD IN LONDON # AVERAGES FOR WEEK ENDING WEDNESDAY DOLLARS PER FINE OUNCE U.S. DOLLARS PER FINE OUNCE 190 190 170 170 150 150 12.5 Kg BARS AFTERNOON FIXING PRICE 130 130 110 - 90 110 90 1976 1978 CHART 4 CALL MONEY RATES WEEKLY SERIES PER CENT PER ANNUM 12 PER CENT PER ANNUM - U.S. FEDERAL FUNDS 4 - JAPAN OVERNIGHT EURO-DOLLARS 0 16 FRANCE 12 U.K. 2 - D A Y LOCAL AUTHORITY 4 - 0 12 CANADA NETHERLANDS - - EURO-SWISS FRANC GERMANY EURO-DM 1976 1978 1976 1978 CHART 5 3-MONTH INTEREST RATES # WEEKLY SERES PER CENT PER ANNUM CENT PER ANNUM 12 CANADIAN FINANCE CO. PAPER . L EURO-DOLLAR U.S. p - CD'S 1 1 1 1 1 1 i iilnliiln 16 12 JAPANESE BANK LOANS AND DISCOUNTS 8 U.K. INTERBANK STERLING - 10 SWISS INTERBANK RATE \ — GERMAN INTERBANK RATE — I I I I I 1976 I 1978 1976 1978 CHART 6 EURO-DOLLAR DEPOSIT RATES LONDON AVERAGES FOR WEEK ENDING WEDNESDAY CENT PER ANNUM PER CENT PER ' 10 101 OVERNIGHT 3-MONTH 6 - 6 2 10 10 6-MONTH 7-DAY - 6 - - 2 10 1-YEAR 10 1-MONTH - 6 - 2 i i l l 11 u l 11 1976 1978 I I I I I 1976 I 11111111111 1978 #' CHART 7 SELECTED EURO-DOLLAR AND U. S. MONEY MARKET RATES AVERAGES FOR WEEK ENDING WEDNESDAY PER CENT PER ANNUM PER CENT PER ANNUM 10 FEDERAL FUNDS DASHED LINE EURO-DOLLAR DEPOSITS OVERNIGHT E U R O - D O L L A R DEPOSITS 90-DAY CD*S DASHED LINE DIFFERENTIAL DIFFERENTIAL ADJUSTED FOR RESERVE REQUIREMENTS I I I I I I I I I I I I I I I I I I I I I I I I I I I 1976 1978 FAVORS BORROWING IN U. S. IF POSITIVE ADJUSTED i FOR RESERVE REQUIREMENTS I I I I I I I I I I I 1976 I 1978 CHART 8 INTEREST ARBITRAGE: 3-MONTH FUNDS DIFFERENTIAL: PLUS(+), INDICATES FAVOR DOLLAR ASSETS AVERAGES FOR WEEK ENDING WEDNESDAY PER CENT PER PER CENT PER ANNUM 10 EURO-DOLLAR DEPOSITS INTERBANK INTERBANK STERLING COVERED FRANKFURT COVERED LONDON 6# EURO-DOLLAR DEPOSITS DASHED LINE DIFFERENTIAL DIFFERENTIAL I Illlll I I i l l l II l I I I I I l I I I II l I I 1 1 M M 11 i M 10 10 I CANADIAN FINANCE CO. PAPER, „ Wh tlA , 4-VU COVERED __ ^ EURO-DOLLAR DEPOSITS - # Aft . I L — / / V _ A// */ — „ SWISS INTERBANK (SF) COVERED DASHED LINE DASHED LINE - - DIFFERENTIAL A A — U.S. COMMERCIAL PAPER - A - A A z-Vy I v » 1 U!> i - - DIFFERENTIAL - i Y¥T YY W » t f -v f v / ^ y V / ^ V f W i f V i ^ i i i 1976 i i l l ii h i l i i 11111111111 1978 1 1 i u In h i l i i 1976 u h i h i h i 1978 CHART 9 LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES PER CENT PER AL :ENT PER ANNUM 10 CANADA UNITED STATES - - a / 8 - I I I 6 8 JAPAN INDUSTRIAL - \ - SWITZERLAND 6 4 - I GERMANY I I 2 18 UNITED KINGDOM 16 FRANCE 14 12 NETHERLANDS 10 U. S . CORPORATE 8 MONTHLY U. S . EURO-DOLLAR CORPORATE MONTHLY 9 BONDS Aaa BONDS 7 EURO-DM BONDS 5 1976 1978 1976 1978 CHART 10 INDUSTRIAL STOCK INDEXES m WEEKLY SERIES RATIO SCALE 1969=100 RATIO 191 140 120 - 100 - ju - UNITED STATES r - - 80 I 1 1 1 60 320 — 280 - 240 - 160 I 11 l i i h i l l - UNITED KINGDOM - \ i — ~ - y r i — JAPAN - — ,, 200 I - — - - — — I I I 140 — 120 rxi x i M l x I n l M — — — I " I — — — CANADA 100 80 — A V - — I,, I,, 60 140 SWITZERLAND — A N I l l , i l l , h i — - Ml,,I,ill, — : 120 a ^ 100 FRANCE GENERAL INDEX GERMANY - / \ y ^ — ^ 80 60 I - — — I 1976 1978 I 1976 I iiliili.hi 1978 SERIES NAME LAST VALUE PLOTTED DATE VALUE 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 . DOLLAR PER FINE OUNCE JAN. JAN. JAN. JAN. JAN. JAN. JAN. 4 4 4 4 4 4 4 0.08 0.61 4.61 —6. 15 5.99 1.41 5.32 JAN. 4 166.00 JAN. JAN. DEC. DEC. DEC. DEC. DEC. DEC. DEC. DEC. 4 4 30 23 30 30 30 30 16 30 6.72 6.84 6.63 6.60 3.95 2.42 5.25 9.13 4.41 1.13 JAN. JAN. JAN. JAN. JAN. JAN. JAN. 4 4 4 4 4 4 4 6.70 3.57 5.75 7.25 7.06 6.41 1.25 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 . 63.38 150.79 175.67 160.87 80.71 98.87 119.27 222.66 154.04 72.02 GOLD PRICE I N LONDON U.S. 4. 4 4 4 4 4 4 4 4 4 4 3-MONTH FORWARD EXCHANGE RATES CANADIAN DOLLAR U . K . POUND GERMAN MARK FRENCH FRANC SWISS FRANC DUTCH GUILDER JAPANESE YEN 3. JAN. JAN. JAN. JAN. JAN. JAN. JAN. JAN. JAN. JAN. 3-MONTH INTEREST RATES U . S . C D ' S < 6 0 - 8 9 DAYS) GERMAN INTERBANK LOAN JAPANESE BANK LOANS & DISCOUNTS EURO-DOLLAR DEPOSIT CANADIAN FINANCE COMPANY PAPER INTERBANK STERLING SWISS INTERBANK LOAN SERIES NAME CHART 6 . LAST VALUE PLOTTED DATE VALUE EURO-DOLLAR DEPOSIT RATES: LONDON JAN. JAN. JAN. JAN. JAN. JAN. 4 4 4 4 4 4 6.89 6.89 7.25 7.53 7.53 JAN. JAN. JAN. JAN. JAN. JAN. 4 4 4 4 4 4 6.84 6.72 0.41 7.25 6.70 0.42 EURO-DOLLAR DEPOSIT INTERBANK STERLING ( LONDON), COVERED DIFFERENTIAL JAN. JAN. JAN. 4 4 4 7.25 7.02 0.23 U . S . COMMERCIAL PAPER CANADIAN FINANCE CO. PAPER, COVERED DIFFERENTIAL JAN. JAN. JAN. 4 4 4 6.68 7.13 -0.45 EURO-DOLLAR DEPOSIT INTERBANK DM (FRANKFURT), COVERED DIFFERENTIAL JAN. JAN. JAN. 4 4 4 7.25 8.18 -0.93 EURO-DOLLAR DEPOSIT SWISS INTERBANK, COVERED DIFFERENTIAL JAN. JAN. JAN. 4 4 4 7.25 7.24 0.01 OVERNIGHT 7-DAY 1-MONTH 3-MONTH 6-MONTH 1-YEAR '. 6 . # l 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) DIFFERENTIAL A D J . FOR RESERVE REQUIREMENTS T. INTEREST ARBITRAGE, 3-MONTH FUNDS # LAST VALUE PLOTTED DATE VALUE CHART 9 . LONG TERM GOVERNMENT BOND YIELDS UNITED STATES GERMANY JAPAN (MONTHLY) SWITZERLAND CANADA FRANCE NETHERLANDS UNITED KINGDOM U.S. 30 23 16 23 16 16 30 7 ,. 7 9 5.63 6 , .58 3 . .82 8 ,. 7 6 10,, 0 0 7 ,, 4 0 9 ., 5 7 CORPORATE AAA BONDS EURO-DM BONDS EURO-DOLLAR BONDS CHART 1 0 . DEC. DEC. NOV. DEC. DEC. DEC. DEC. DEC. NOV. NOV. NOV. 8.08 6.45 7.85 INDUSTRIAL STOCK INDEXES UNITED STATES JAPAN CANADA FRANCE UNITED KINGDOM SWITZERLAND GERMANY DEC. DEC. DEC. DEC. DEC. DEC. DEC. 30 16 9 16 30 23 23 97.51 237.42 85.71 84.41 115.63 75.74 97.66 FEDERAL RESERVE statistical release '•"f H . 10 JANUARY FOREIGN EXCHANGE RATES FOR THE WEEK ENDING JANUARY 9, 1978 6> 1978 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 SRI LANKA SWEDEN SWITZERLAND UNITED KINGDOM MONETARY UNIT DOLLAR SCHILLING FRANC DOLLAR KRONE MARKKA FRANC D . MARK RUPEE POUND LIRA YEN DOLLAR PESO GUILOER DOLLAR KRONE ESCUDO RAND PESETA RUPEE KRONA FRANC POUND JAN. H 0 L I D A Y 2 JAN. 3 (RATE U . S . CENTS) JAN. 4 114.6000 6.67500 3.08800 91.5950 17.4300 24.0000 21.6400 48.3000 11.8000 196.1000 0.11548 0.42090 42.3400 4.3900 44.6300 102.3000 19.7350 2.5175 115.1000 1.2422 6.2000 21.5900 51.9200 196.1000 115.0000 6.72000 3.10500 91.4700 17.5400 24.3000 21.7050 48.4300 11.8000 196.0000 0.11608 0.42120 42.5600 4.3900 44.8800 103.3500 19.8000 2.5500 114.9000 1.2483 6.2000 21.7000 51.8800 196.0000 JAN. 5 113.7500 6.48000 2.98000 91.3400 17.0300 24.7100 21.0200 46.4500 11.8000 188.6500 0.11412 0.41480 42.1900 4.3925 43.3000 IOC.3300 19.2000 2.4600 115.0000 1.2308 6.2000 21.2000 48.9500 188.6500 JAN. 6 113.8000 6.45000 3.02000 91.4000 17.0700 24.7100 21.1300 46.9500 12.1500 193.0000 0.11432 0.41600 42.2100 4.3900 43.9500 101.4500 19.2200 2.4700 115.0000 1.2356 6.2000 21.2500 50.0000 193.0000
@FedFRASER