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Selected Interest & Exchange Rates Weekly Series of Charts July 10,1978 Prepared by the FINANCIAL MARKETS SECTION DIVISION OF INTERNATIONAL FINANCE 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 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 MAY 1 RATIO ! MAY 1970 PARI? CALE '0 PARITY: 100 100 80 FOREIGN CURRENCY PRICE OF U.S. DOLLAR CANADIAN DOLLAR I ,T JJ 180 160 FRENCH FRANC GERMAN MARK - 140 — 120 I 11111 I n I i i i i 1 1 i 180 160 140 SWISS FRANC JAPANESE YEN 120 100 160 DUTCH GUILDER BELGIAN FRANC 140 120 100 110 90 U.K. POUND 70 50 1976 1978 1976 1978 CHART 2 3-MONTH FORWARD EXCHANGE RATES PREMIUM (+) OR ( - ) AVERAGES FOR WEEK ENDING WEDNESDAY CENT PER ANNUM CANADIAN DOLLAR r i i iihilii n - n PER CENT PER ANNUM - — 6 DUTCH GUILDER U. K. POUND - A 1 V ~~ - 12 I I I SWISS FRArJC r - vV^ 1 1 1 GERMAN MARK •J 1 - /V v / In 1 1 1 1 1 1 u l i i l i i l i i 1 FRENCH FRANC - JAPANESE YEN - J + 0 1 1976 1978 1 J J 1 1976 j l l l n i i l l l l , 1978 CHART 3 PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY U.S. DOLLARS PER FINE OUNCE U.S. DOLLARS PER FINE OUNCE 200 209 180 180 160 12.5 Kg BARS AFTERNOON FIXING PRICE 140 140 120 120 100 1976 1978. CHART 4 CALL MONEY RATES WEEKLY SERIES PER CENT PER ANH PER C IT PER ANNUM 12 12 U.S. FEDERAL FUNDS 8 4 \jy - JAPAN OVERNIGHT EURO-DOLLARS I 0 I I I I - 8 - 4 0 I 16 T6 FRANCE 12 12 8 8 U.K. 2 - D A Y LOCAL AUTHORITY 4 4 111II I I I ! I ! 0 0 12 12 NETHERLANDS CANADA 8 8 i) 4 4 11 l u l l 111 0 12 12 8 EURO-SWISS FRANC 8 GERMANY 4 4 0 0 EURO-DM I I l I » I III t l l l l l l l l [ L t l l 4 0 1976 1976 1976 1976 4 CHART 5 3-MONTH INTEREST RATES WEEKLY SERIES PER CENT PER ANNUM PER CENT PER ANNUM 12 CANADIAN FINANCE CO. PAPER L EURO-DOLLAR IU.S. I I I I /[ ~ CD'S I I ululnlM JAPANESE BANK LOANS AND DISCOUNTS 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 PER PER CENT PER AL ENT PER ANNUM 10 J 3-MONTH OVERNIGHT - 6 - 2 I I I 10 7-DAY 6 I I I II I II I I 2 1-YEAR 10 V\ A-at - 6 2 I 1976 1978 N . i I 1976 I u i nil i hi 11 i i i 111111 1978 CHART 7 SELECTED EURO-DOLLAR AND U. S. MONEY MARKET RATES AVERAGES FOR WEEK ENDMG WEDNESDAY PER CENT PER ANNUM | PER CENT PER ANNUM FEDERAL FUNDS DASTIED LINE EURO-DOLLAR DEPOSITS OVERNIGHT EURO-DOLLAR DEPOSITS 90-DAY CD'S DASHED LINE DIFFERENTIAL ADJUSTED FOR RESERVE REQUIREMENTS DIFFERENTIAL ADJUSTED FOR RESERVE REQUIREMENTS i 1976 FAVORS BORROWING IN U. S. IF POSITIVE 1978 I 111111111111111' 11II I 1976 1978 _LL CHART 8 INTEREST ARBITRAGE: 3-MONTH FUNDS DIFFERENTIAL: PLUS(+), INDICATES FAVOR DOLLAR ASSETS AVERAGES FOR WEEK ENDING WEDNESDAY PER CENT PER ANNUM PER CENT PER ANNUM 10 10 L EURO-DOLLAR DEPOSITS INTERBANK 4 COVERED FRANKFURT , INTERBANK STERLING COVERED LONDON EURO-DOLLAR DEPOSITS DASHED LINE DIFFERENTIAL DIFFERENTIAL ' 1111 n 1111111111 10 CANADIAN FINANCE CO. PAPER, „ COVERED EURO-DOLLAR DEPOSITS y > | - SWISS INTERBANK (SF) COVERED U.S. COMMERCIAL PAPER DASHED LINE DASHED LINE - — DIFFERENTIAL DIFFERENTIAL V v 11ill 1111111lulli 1976 - V 1978 I I I v w ^vAvv I I 1976 I + 0 / III I N i l I I I i l l ii h i l l i 1978 CHART 9 LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES PER PER CENT PER AF ENT PER ANNUM 9 10 CANADA UNITED STATES hj - - 8 7 11 5 I I I I I I 6 8 10 JAPAN INDUSTRIAL 6 SWITZERLAND 8 4 6 2 GERMANY 18 4 i 13 16 i UNITED IKINGDOM FRANCE i 11 f yJ i - I i 9 14 12 7 1/ - NETHERLANDS 10 5 11 U. S. CORPORATE i MONTHLY 1 1 U. S. 9 ,\ / V I I CORPORATE 8 I MONTHLY 9 EURO-DOLLAR BONDS Aaa BONDS 7 7 EURO-DM BONDS 5 5 1976 1978 1976 1978 CHART 10 INDUSTRIAL STOCK INDEXES WEEKLY SERIES RATIO SCALE 1969=100 RATIO SCALE 1969=100 140 120 UNITED STATES - - 100 UNITED KINGDOM 80 60 I I I I I I I I I I I I I I I I I JAPAN CANADA SWITZERLAND I IIIIIi IIi I U FRANCE GENERAL INDEX GERMANY U I i l l 111 11 U 1976 1978 1976 1978 4 SLRIfcS NAME LAST VALUE PLOTTED DATE VALUE CHART 1 . SPOT EXCHANGE RATES 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 JULY JULY JULY JULY JULY JULY JULY JULY JULY 5 5 5 5 5 5 5 5 5 48.36 0.49205 44.98 186.57 89.00 22.29 54.39 3.07037 0.11734 JULY JULY JULY JULY JULY JULY JULY JULY JULY 5 5 5 5 5 5 5 5 5 176.99 177.14 162.82 77.74 96.22 123.33 237.84 153.52 73.34 5 5 5 5 5 5 5 5 5 5 82.09 162.04 157.64 142.41 62.98 81.03 106.92 207.22 133.73 60.03 5 5 5 5 5 5 5 0.32 -2.76 5.30 -1.52 7.12 3.94 5.69 I N D I C E S , MAY 1970 P A R I T I E S = 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 WEIGHTED AVERAGE EXCHANGE VALUE I N D I C E S , MAY 1 9 7 0 = 1 0 0 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 FRANC CHART 2 . JULY JULY JULY JULY JULY JULY JULY JULY JULY JULY 3-MONTH FORWARD EXCHANGE RATES, PREMIUM OR DISCOUNT CANADIAN DOLLAR U . K . POUND GERMAN MARK FRENCH FRANC SWISS FRANC DUTCH GUILDER JAPANESE YEN JULY JULY JULY JULY JULY JULY JULY S E R I E S NAME CHART 3 . LAST VALUE PLOTTED, DATE VALUE GOLD PRICE IN LONDON U . S . DOLLARS PER FINE OUNCE JULY 5 183.84 JULY JULY JUNE JUNE JUNE JUNE JUNE JUNE JUNE JUNE 5 5 30 30 30 30 30 30 16 30 7.72 6.25 10.00 7.65 3.50 3.44 4.38 7.68 4.29 1.32 JULY JULY JULY JULY JULY JULY JULY 5 5 5 5 5 5 5 8.00 3.65 4.75 8.63 8.06 10.11 1.57 JULY JULY JULY JULY JULY JULY 5 5 5 5 5 5 8.25 7 . ti3 8.01 6.63 9.09 9.24 5 5 5 5 5 5 8.25 7.72 CHART 4 . 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 . 3-MONTH INTEREST RATES U . S . 9 0 - D A Y CD'S GERMAN INTERBANK LOAN JAPANESE BANK LOANS & DISCOUNTS EURO-DOLLAR DEPOSIT CANADIAN FINANCE PAPER INTERBANK STERLING SWISS INTERBANK LOAN CHART 6 . EURO-DOLLAR DEPOSIT RATES: LONDON OVERNIGHT 7-DAY 1-MONTH 3-MONTH 6-MONTH 1-YEAR CHART 7 . SELECTED EURO-DOLLAR 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 . 90-DAY CD'S DIFFERENTIAL A D J . FOR RESERVE REQUIREMENTS JULY JULY JULY JULY JULY JULY 0.88 8.63 8.00 0.48 ^ SERIES NAME CHART 8 . LAST VALUE PLOTTED DATE VALUE INTEREST ARBITRAGE, 3-MONTH FUNDS EURO-DOLLAR DEPOSIT INTERBANK STERLING (LONDON), COVERED DIFFERENTIAL JULY JULY JULY U . S . COMMERCIAL PAPER CANADIAN FINANCE PAPER, COVERED DIFFERENTIAL JULY JULY JULY 5 7.78 8.38 -0.60 EURO-DOLLAR DEPOSIT INTERBANK DM (FRANKFURT), COVERED DIFFERENTIAL JULY JULY JULY 5 5 5 8.63 8.95 -0.32 EURO-DOLLAR DEPOSIT SWISS INTERBANK, COVERED DIFFERENTIAL JULY JULY JULY 5 8.63 8.70 -0.07 CHART 9 . 5 5 5 5 5 5 5 6.63 7.35 1.28 LONG TERM GOVERMENT BOND YIELDS UNITED STATES GERMANY JAPAN (MONTHLY) SWITZERLAND CANADA FRANCE NETHERLANDS UNITED KINGDOM JUNE JUNE APRIL JUNE JUNE JUNE JUNE JUNE 30 23 23 30 16 16 30 8.59 5.64 5.98 3.41 9.23 10.38 6.92 11.89 U . S . CORPORATE AAA BONDS EURO-OM BONDS EURO-DOLLAR BONDS CHART 1 0 . MAY MAY MAY 8.69 6.63 7.94 INDUSTRIAL STOCK INDICES UNITED STATES JAPAN CANADA FRANCE UNITED KINGDOM SWITZERLAND GERMANY JUNE JUNE JUNE JUNE JUNE JUNE JUNE 30 16 16 16 23 30 23 98.18 273.26 95.70 107.47 106.70 73.49 100.35 F E D E R A L rt.10 R E S E R V E statistical release JULY FOREIGN EXCHANGE RATES JULY rUR THfc Wet K cNDING Vt IO» 19 71. 197b 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 BtLGlUM CANADA DENMARK FINLAND FRANCE GERMANY INDIA IRELAND ITALY JAPAN MALAYSIA MEXICO NETHERLANDS NEW ZEALAND NORWAY PORTUGAL SOUTH AFRICA SPAIN SRI LANKA SWEOfcN SWITZERLAND UNITED KINGDOM MGNcTARY UNIT DOLLAR SC H I L L I N G FRANC DOLLAR KRONE MARKKA FRANC D . MARK RUPEE POUND LIRA YEN DOLLAR PESO GUILDER DOLLAR KRONE bSCUDO RAND PESETA RUPEE KRONA FRANC POUND (KATt JULY 3 114.9000 6.70500 5.06400 69.0400 1? . 7 5 0 0 2 3 . 64DO *2.3100 46.3500 12.1000 lob.7*00 0.11750 0.49400 42.3000 4.3800 44.9900 103.1000 18.5400 2.1950 115.0000 1.2715 6.2000 21.9200 54.6300 166.7400 JULY H 0 L 1 0 A Y 4 U.S. JULY CENTS) 5 114.9000 6.76250 3.09600 69.1700 17.7900 2 3 . 7 725 22.4600 46.6600 1Z.1000 166.9300 0.11605 0.49600 4 2 . 4 100 4.3800 45.2500 103.1000 18.5650 2.2000 115.0000 1.2783 6.2000 22.0150 55.0300 186.9300 JULY 6 A14.8200 o.72250 3.Uod50 88.9800 17.7500 2^.7025 22.3250 46.4000 12.1000 166.7500 0.11740 0.49240 42.3550 4.3750 44.9400 103.1000 18 . 4 0 0 0 2.1950 115.0000 1.2773 6.2000 21.9400 >4.5100 166.7500 JULY 7 114.7500 to. 7^.000 3.0626O 88.6950 17.*500 23.6600 22.4400 46.5900 12.1500 187.3500 0.1176V 0.4942 0 42.3700 4.3750 45.0400 103.2500 io.4600 2.1850 115.0000 l.279t> 6.3000 2 1 . 9 300 54.9300 1 6 7 . 3 5UG
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