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Selected Interest & Exchange Rates Weekly Series of Charts JULY 14,1975 DIVISION OF INTERNATIONAL FINANCE Prepared by the FINANCIAL MARKETS SECTION BOARD OF GOVERNORS FEDERAL RESERVE SYSTEM Washington, D C. 20551 >> • Table of Contents CHARTS TABLES 1. SPOT EXCHANGE RATE INDEXES 1. LATEST FIGURES PLOTTED Z 3-MONTH FORWARD EXCHANGE RATES Z DAILY CERTIFIED SPOT EXCHANGE RATESH.10 RELEASE 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 3 Chart 1 SPOT EXCHANGE RATES I DOLLAR PRICES OF FOREIGN CURRENCIES AND WEIGHTED AVERAGE VALUES (DASHED LINE) AVERAGES FOR WEEK ENDING WEDNESDAY • RAT] MAY SCALE Y=100 FOREIGN CURRENCY PRICE OF U.S. DOLLAR 9C • 120 CANADIAN DOLLAR 10C 100 8C 80 JAPANESE YEN 140 FRENCH FRANC 140 120 120 100 100 I I I I I I i 200 - - 180 200 180 SWISS FRANC 160 / 140 L 1 / / M 100 T I I I I ~ H " r T i i i /V 160 1 A / v / V w - H 120 J - 140 / /' "~ L 160 120 Illllllllll 100 160 DUTCH GUILDER BELGIAN FRANC 140 140 120 160 100 I I I I I I I 120 I I I I I I I 11J i i JI j J H 00 20 U.K. POUND 100 00 80 80 M Chart?. 3-MONTH FORWARD EXCHANGE RATES PREMIUM (+), OR DISCOUNT ( - ) AVERAGES FOR WEEK ENDING WEDNESDAY PER :NT PER ANNUM 6 0 6 CANADIAN DOLLAR . A A I I I I I . ^ " I PER CENT PER ANNUM 12 6 SWISS FRANC U.K. POUND 0 6 12 12 GERMAN MARK DUTCH GUILDER 6 0 I 6 6 FRENCH FRANC 0 6 12 I I I I I I JAPANESE YEN 2 per cent on scale equals 1 per cent on all others lllillllllllllllllllll Chart 3 PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY ULS. DOLLARS PER f D C OUNCE 12.5 Kg BARS Afternoon fixing price 150 80 1073 1975 Chart 4 CALL MONEY RATES WEEKLY SERIES OVERNIGHT EURO-DOLLARS JAPAN 10 5 U.S. FEDERAL FUNDS 0 20 20 U.K. 2 - D A Y LOCAL AUTHORITY FRANCE 15 15 NETHERLANDS 10 CANADA 5 0 20 20 EURO-SWISS FRANC 15 10 GERMANY 5 EURO-DM 0 5 1973 1975 1973 1975 Charts 3HMI0NT^INTEREST RATES WEEKLY SERIES ~ CANADIAN FINANCE CO. PAPER 12 UNITED STATES CD's 8 4 U.K. INTERBANK STERLING GERMAN INTERBANK RATE 18 12 8 4 18 12 EURO-DOLLAR 12 SWISS DEPOSIT RATE 8 JAPAN Monthly 4 1873 1875 1873 1875 Chart 6 EURO-DOLLAR DEPOSIT RATES London AVERAGES FOR WEEK ENDING WEDNESDAY 18 OVERNIGHT 3-MONTH 12 8 4 16 16 7-DAY 6-MONTH 12 8 16 16 1-MONTH 1-YEAR 12 8 1973 1975 1973 1975 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 deposit FEDERAL FUNDS OVERNIGHT Euro dollar deposits | 60-89 DAY CD'S y'\J\r-K/ '1 v \ / V v A / j •+ DIFFERENTIAL Adjusted for reserve requirements DIFFERENTIAL Adjusted for reserve requirements J Favors Borrowing in U.S. if I I 1973 Positive l II I II I I I I I I I U I I I l U 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 Chart 8 INTEREST ARBITRAGE: 3-MONTH FUNDS j AVERAGES FOR WEEK ENDING WEDNESDAY DIFFERENTIAL: PLUS (+), INDICATES FAVOR DOLLAR ASSETS PER CENT PER j 1 20 \ 20 INTERBANK DM, Covered Frankfurt EURO-DOLLAR DEPOSITS 15 15 INTERBANK STERLING Covered London 10 10 0 5 EURO-DOLLAR DEPOSITS 5 8 DIFFERENTIAL I DIFFERENTIAL 5 5 10 10 15 - C A N A D I A N FINANCE CO. PAPER, COVERED 15 EURO-DOLLAR DEPOSITS 10 10 5 5 U.S. COMMERCIAL PAPER SWISS_DEPOSITS (SF) COVERED I 0 0 DIFFERENTIAL DIFFERENTIAL 5 5 1973 1975 1973 1975 W Chart 9 LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES PER WNUH PER CENT PER A ENT PER ANNUM — a - UNITED STATES - . CANADA y 7 ^ a /~y-v#vZ^J n 5 i i i i i iiiiiiniii i 10 MlMlMlU e 8 12 SWITZERLAND GERMANY 10 7 - /I / B % / JAPAN Industrial I 8 I - I I I I M i l . h i l l . Illllllllll 5 3 18 14 UNITED KINGDOM I r 18 12 FRANCE 10 14 8 12 NETHERLANDS - 10 6 4 12 I I I I I I I IIIIIIIHIII U.S. CORPORATE Monthly I „ I I I 8 12 U.S. CORPORATE Monthly _ 10 I Euro-Dm bonds - A / / V 10 Aaa bonds Euro-dollar bonds — y 8 8 6 ~ ? n I i i 1873 i niiiiiiin iiiniiiiii 1975 8 Chart 10 INDUSTRIAL STOCK INDEXES WEEKLY SERIES WTO HO UNITED STATES 100 80 ts 380 UNITED KINGDOM JAPAN aw 180 80 I I I I I I 180 «v SWITZERLAND 100 Vr 60 45 I I I I I I 180 FRANCE General index 100 60 45 GERMANY 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 JULY JULY JULY JULY JULY JULY JULY JULY JULY JULY 9 9 9 9 9 9 9 9 9 9 81.19 121.77 152.72 145.67 91.47 104.86 134.57 171.23 139.31 97.83 JULY JULY JULY JULY JULY JULY JULY 9 9 9 9 9 9 9 -0.30 -2.57 3.07 -4.10 2.88 3.28 0.43 JULY 9 164.12 JULY 9 9 JULY JULY 4 JUNE 27 JULY 4 4 JULY JUNE 20 JULY 4 JUNE 27 JULY 4 6.06 5.72 9.13 6.75 4.30 4.94 10.50 7.38 2.88 2.63 JULY 9 JULY 9 MAY 30 JULY 9 9 JULY 9 JULY 9 JULY 6.00 4.60 9.30 7.36 7.47 9.63 6.50 CHART 2 . 3-MONTH FORWARD EXCHANGE RATES CANADIAN DOLLAR U . K . POUND GERMAN MARK FRENCH FRANC SWISS FRANC DUTCH GUILDER JAPANESE YEN 3 . GOLD PRICE I N LONDON U . S . DOLLAR PER FINE OUNCE 4 . CALL MONEY RATES U . S . FEDERAL FUNDS OVERNIGHT EURO-DOLLAR DEPOSITS U . K . 2-DAY LOCAL AUTHORITY DEPOSITS CANADA GERMANY EURO-DM JAPAN FRANCE NETHERLANDS EURO-SWISS FRANC CHART 5 . 3-MONTH INTEREST RATES U . S . CD'S ( 6 0 - 8 9 DAYS) GERMAN INTERBANK LOAN JAPANESE COMPOSITE LOAN EURO-DOLLAR DEPOSIT CANADIAN FINANCE COMPANY PAPER INTERBANK STERLING SWISS DEPOSIT vA SERIES NAME CHART 6 , LAST VALUE PLOTTED DATE VALUE -- EURO-DOLLAR DEPOSIT RATES: LONDON 9 9 9 9 9 9 5.72 6.51 6.86 7.36 7.93 8.21 JULY JULY JULY JULY JULY JULY 9 9 9 9 9 9 5.72 6.06 -0,10 7.36 6.00 1.29 EURO-DOLLAR DEPOSIT INTERBANK STERLING (LONDON), COVERED DIFFERENTIAL JULY JULY JULY 9 9 9 7.36 7.05 0.31 U . S . COMMERCIAL PAPER CANADIAN FINANCE CO. PAPER, COVERED DIFFERENTIAL JULY JULY JULY 9 9 9 6.28 7.17 -0.89 EURO-DOLLAR DEPOSIT INTERBANK DM (FRANKFURT), COVERED DIFFERENTIAL JULY JULY JULY 9 9 9 7.36 7.67 -0.31 EURO-DOLLAR DEPOSIT SWISS DEPOSIT ( S F ) , COVERED DIFFERENTIAL JULY JULY JULY 9 9 9 7.36 9.38 -2.03 OVERNIGHT 7-DAY 1-MONTH 3-MONTH 6-MONTH 1-YEAR JULY JULY JULY JULY JULY JULY 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 . CD'S ( 6 0 - 8 9 DAYS) DIFFERENTIAL A D J . FOR RESERVE REQUIREMENTS CHART 8 . INTEREST ARBITRAGE, 3-MONTH FUNDS \S SERIES NAME LAST VALUE PLOTTED DATE VALUE CHART 9 . LONG TERM GOVERNMENT BOND YIELDS UNITED STATES GERMANY JAPAN (MONTHLY) SWITZERLAND CANADA FRANCE NETHERLANDS UNITED KINGDOM JULY JUNE MAY MAY JUNE JUNE JUNE JUNE 8,01 4 27 30 30 27 27 27 27 7.78 14.00 MAY 3 0 MAY 3 0 MAY 3 0 8.90 8.42 8.62 8.21 9.34 6.76 8.88 10.02 U . S . CORPORATE AAA BONDS EURO-DM BONDS EURO-DOLLAR BONDS CHART 1 0 . INDUSTRIAL STOCK INDEXES UNITED STATES JAPAN CANADA FRANCE UNITED KINGDOM SWITZERLAND GERMANY JULY JUNE JUNE JUNE JUNE JULY JUNE 4 20 27 27 27 4 27 99.20 217.10 101.88 96.56 70.41 65.33 83.10 F E D E R A L H.10 R E S E R V E statistical release -- JULY 1 1 , 1975 FOREIGN EXCHANGE RATES FOR THE WEEK ENDING JULY 1 1 , 1975 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 JULY 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 131.7500 5.90000 2.77900 96.9600 17.8300 27.7400 24.1500 41.5800 11.8000 218.6000 0.15640 0.33840 42.8400 8.0000 40.0800 128.2500 19.7600 4.0100 139.7000 1.7605 14.5000 24.9100 39.0600 218.6000 7 JULY 8 CkATfc U . S . CENTS JULY 9 131.6500 5.91000 2.78600 96.8200 17.8600 27.7500 24.1900 41.7200 11.8000 219.4500 0.15640 0.33820 42.6300 8.0000 40.2300 128.0500 19.8500 4.0200 139.7000 1.7620 14.5000 24.9300 39.2100 219.4500 131.7500 5.92000 2.78700 96.9900 17.9700 27.8300 24.2400 41.7000 11.9000 220.6000 0.15660 0.33790 42.6900 8.0000 40.2900 128.2000 19.8800 4.0200 139.7000 1.7670 14.5000 24.9900 39.1700 220.6000 JULY 10 JULY 11 131.7000 5.86000 2.76950 97.1500 17.8700 27.6600 24.0400 41.2900 11.9000 219.8500 0.15580 0.33770 42.5500 8.0000 39.9800 128.4500 19.7000 3.9800 139.7000 1.7630 14.5000 24.7400 38.9100 219.8500 131.6000 5.83000 2 . 7 6 2 50 97.0500 17.8000 27.6400 23.9900 41.0500 11.8000 219.9500 0.15540 0.33770 42.2700 8.0000 39.7200 128.2500 19.6800 3.9800 139.7500 1.7590 14.0700 24.5800 38.8000 219.9500
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