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5 - H H O Selected Interest & Exchange Rates Weekly Series of Charts July 17,1978 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 SCALE MAY 1970 PARITY=100 RATIO SCALE MAY 1970 PARITY=100 FOREIGN CURRENCY PRICE OF U.S. DOLLAR CANADIAN DOLLAR L U FRENCH FRANC GERMAN MARK I - 240 - — JAPANESE YEI Jr ~ ~ SWISS FRANC V - A - I I m I M I M I M iiiuiiiiii ~~ I I I I I I - 200 — 180 - 160 - 140 f J YX — I / i i i i i i i i i i i. 120 DUTCH GUILDER BELGIAN FRANC U.K. POUND ITALIAN LIRA ill 1976 1976 1976 1976 SO CHART 2 3-MONTH FORWARD EXCHANGE RATES PREMIUM (+) OR ( - ) AVERAGES FOR WEEK ENDING WEDNESDAY PER CENT PER ANNUM 6 CANADIAN DOLLAR I I I PER CENT PER ANNUM - - DUTCH GUILDER / - - U. K. POUND A/w k ( V \ ~~ 12 12 l I l I I I I 11111111111 - I I I I I IIllllllllI lillllllll! 4C SWISS FRAP GERMAN MARK V / r - X v I I I I I 1 1 1 I I I - 11111111111 I FRENCH FRANC — JAPANESE YEN ! 1976 1978 I - J 11111! 11111 I 1S76 1978 f CHART 3 PRICE OF GOLD IN LONDON A V E R A G E S FOR U.S. DOLLARS PER FINE OUNCE WEEK ENDING WEDNESDAY U.S. DOLLARS PER FINE OUNCE 200 180 200 - 160 1 2 . 5 Kg BARS AFTERNOON FIXING PRICE - 180 - 160 140 120 140 - - 100 I I I I I I 1976 1978 120 100 CHART 4 CALL MONEY RATES WEEKLY SERIES PER CENT PER ANNUM PER CENT PER ANNUM 12 U.S. FEDERAL FUNDS \jy - JAPAN - OVERNIGHT EURO-DOLLARS 16 FRANCE r~ 12 1 \ " n "Vr U.K. 2-DAY LOCAL AUTHORITY 8 - — 4 ii l i i h i l l i 0 - 8 - 4 — 1 1 1 1 1 i — NETHERLANDS CANADA - I I I I I I EURO-SWISS FRANC GERMANY EURO-DM 1976 1978 1976 1978 CHART 5 3-MONTH INTEREST RATES WEEKLY SERIES PER CENT PER ANNUM PER CENT PER ANNUM 12 12 I— CANADIAN FINANCE CO. PAPER EURO-DOLLAR U.S. CD S JAPANESE BANK LOANS AND DISCOUNTS - U.K. INTERBANK STERLING 10 SWISS INTERBANK RATE — \ - GERMAN INTERBANK RATE I I I I I 1976 I I I I I I 111 I 1978 1976 1978 4 CHART 6 EURO-DOLLAR DEPOSIT RATES LONDON AVERAGES FOR WEEK ENDING WEDNESDAY PER CENT PER ANNUM PER CENT PER ANNUM 10 — 10 I OVERNIGHT I 1 i I1 1 III1 I 10 3-MONTH I I I I I y - I 10 - W\ 7-DAY 6-MONTH k - I I I I I 1-YEAR 10 1-MONTH Va I I v I y v I I 1976 I , llil I I I ill I J Illllllllll 1976 " I J r I CHART 7 SELECTED EURO-DOLLAR AND U. S. MONEY MARKET RATES A V E R A G E S FOR WEEK ENDING W E D N E S D A Y PER CENT PER ANNUM PEA CENT PER ANNUM 10 10 | FEDERAL FUNDS DAS 4ED LINE FAVORS BORROWING IN EURO-DOLLAR DEPOSITS OVERNIGHT EURO-DOLLAR DEPOSITS 90-DAY CD'S DASHED LINE DIFFERENTIAL DIFFERENTIAL ADJUSTED FOR RESERVE REQUIREMENTS ADJUSTED FOR RESERVE REQUIREMENTS AAvvAvvy\A/ 11111111111111111 1978 1976 U. S. IF POSITIVE i I I 1976 I + 0 I I I I I I I I I I I I I I I I I I I I I I 1978 CHART 8 INTEREST ARBITRAGE: 3-MONTH FUNDS DIFFERENTIAL: PLUS(+), INDICATES FAVOR DOLLAR ASSETS AVERAGES FOR WEEK ENDING WEDNESDAY PER PER CENT PER ANI -NT PER ANNUM 10 EURO-DOLLAR DEPOSITS 8 INTERBANK DM INTERBANK STERLING COVERED FRANKFURT COVERED LONDON 6 I EURO-DOLLAR DEPOSITS 4 DASHED LINE 2 DIFFERENTIAL + 0 DIFFERENTIAL I 2 I I I liilnlnln I I I ii l u l u ! u l i i l n l i i l i I 10 CANADIAN FINANCE CO. PAPER, _ COVERED EURO-DOLLAR DEPOSITS 8 6 4 SWISS INTERBANK (SF) COVERED U.S. COMMERCIAL PAPER DASHED LINE DASHED LINE DIFFERENTIAL DIFFERENTIAL 2 0 1 2 1976 1978 1976 1978 CHART 9 LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES PER CENT PER ANNUM 9 CANADA UNITED STATES 7 5 10 JAPAN INDUSTRIAL SWITZERLAND 8 6 GERMANY 18 4 13 UNITED KINGDOM FRANCE 11 9 7 NETHERLANDS 5 11 U.S. CORPORATE MONTHLY U. S. 9 CORPORATE MONTHLY EURO-DOLLAR BONDS A*a BONOS 7 EURO-DM BONDS S 1976 1978 1976 1978 CHART 10 INDUSTRIAL STOCK INDEXES WEEKLY SERIES RATIO SCALE 1969=100 RATIO SCALE 1969=100 140 200 - 120 - UNITED STATES — 100 jy — V / V A - — - 80 UNITED KINGDOM / * V - I 60 I I I I I 240 , jJ . A ) - M | n l l l 111 320 — 260 - — - IJ] N - 120 100 80 JAPAN - - /zvrvx / - • - 40 — 60 - - 200 160 160 — I I I I I I i ill Hi ill i II I I l l l l l l I I I I I I I llllillllll 1111111111' 140 120 100 CANADA 100 SWITZERLAND 80 80 60 60 I IIIIII IIII u l H i l l I) I 140 120 A 120 FRANCE GENERAL INDEX r GERMANY 100 \ 80 - 60 , — V I I I I I 1976 I 100 — - iiliiliilii - I 1978 I I I I 1976 I . . . . . . 1978 80 60 LAST VALUE PLOTTED DATE VALUE S E R I E S NAME CHART 1 . SPLT hXCHAiNGc RATES WEEKLY AVERAGES, NOON BUYING RATES ( U . S . GERMAN MARK JAPANESE YEN DUTCH b U I L D E R U . K . POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC b E L G l A N FRANC I T A L I A N LIRA I N D I C E S , MAY 1970 PARITIES - CENTS) JULY JULY JULY JULY JULY JULY JULY JULY JULY 12 12 12 12 12 12 12 12 48.65 0.49345 45.11 167.99 89.03 22.43 54.96 3.08630 0.11772 JULY JULY JULY JULY JULY JULY JULY JULY JULY 12 12 12 12 12 12 12 12 12 178.08 177.64 163.31 76.33 96.25 124.59 240.34 154.31 73.57 12 12 12 12 12 12 12 12 12 12 61.70 162.50 157.51 142.33 63.26 60.74 107.22 208.66 133.96 60.01 lc 100 GERMAN MARK JAPANESE YEN DUTCH GUILDER U . K . POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC b t L & l A N 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 SWlSb FRANC b E L G l A N FRANC I T A L I A N FRANC CHART 2 . 3-MONTH FORWARD EXCHANGE RATES, CANADIAN DOLLAR U . K . POUND GERMAN MARK FRENCH FKANC SWISS FRANC DUTCH GUILDER JAPANESE YEN JULY JULY JULY JULY JULY JULY JULY JULY JULY JULY P R t M l U M OR DISCOUNT JULY 12 JULY 12 JULY it JULY JULY 12 JULY 12 JULY 12 O.ld -2.52 5.08 -1.15 7.03 3.5b 5.53 LAST VALUE PLGTT DATE VALUE SERIES NAME CHART 3 . GOLD P R l L E U.S. CHART 4 . iU LONDON DOLLARS PER F I N c OUNCE GERMANY EURO-DM JAPAN FRANCE NETHERLANDS EURO-SWISS FRANC 12 12 7 30 7 7 7 7 16 7 JULY 12 JULY 12 JULY 12 JULY 12 JULY 12 JULY 12 JULY 7.72 7.65 TT.68 7.65 3.50 3.39 4.25 7.25 4.29 1.54 8.00 3.67 4.75 A.46 8.17 10.00 1.52 EURO-DOLLAR DEPOSIT RATES: LONDON JOLY JULY JULY JULY JULY JULY OVERNIGHT 7-DAY L—MONTH 3-MONTH 6—MONTH 1-YEAR CHART 7 . JULY JULY JULY JUNE JULY JULY JULY JULY JUNE JULY 164.91 3-MONTH INTEREST RATES U . S . 90-DAY CD'S GERMAN INTERBANK LOAN JAPANESE BANK LOANS & DISCOUNTS EURO-DOLLAR DEPOSIT CANADIAN FINANCE PAPtR INTcRbANK STERLING SWISS INTERBANK LOAN CHART 6 . 12 CALL MONEY RATES U . S . FEDERAL FUNDS OVERNIGHT tURO-DOLLAR DEPOSITS U . K . 2—DA Y LOCAL AUTHORITY DEPOSITS CANADA CHART 5 . JULY SELECTED EURO-uGLLAR ANLf U . S . MUNcY MARKtT OVERNIGHT EURO-DOLLAR D t P O S l T S U . S . FfcDERAL FUNDS D I F F E R E N T I A L A D J . FOR RESERVE REQUIREMENTS 3-MONTH tURO-DCLLAR DEPOSIT KATE U . S . 90—DAY C D ' S D I F F E R E N T I A L A D J . FOR RESERVE REQUIREMENTS 12 12 12 12 12 12 7.85 7.95 8.10 8.46 8.96 9.13 It 12 12 12 12 7.85 7.72 0.',6 8 «4o 6.00 0.30 KATtS JULY JULY JULY JULY JULY JULY l<f ft LAST VALUE PLOTTED OATE VALUE S E R I E S NAME CHART 8 . INTEREST ARBITRAGE, 3-MONTH FUNDS EURO-DOLLAR DEPOSIT INTERBANK STERLING ( L O N D O N ) , COVERED DIFFERENTIAL JULY 12 JULY 12 JULY 12 8.46 7.46 0.99 U . S . COMMERCIAL PAPER CANADIAN FINANCE PAPER, COVERED DIFFERENTIAL JULY JULY JULY 12 12 12 7.64 fa.35 -0.51 fcURC-DQLLAR DEPOSIT INTERBANK DM (FRANKFURT)* DIFFERENTIAL JULY 12 JULY 12 JULY 12 8.46 8.75 -0.29 JULY 12 JULY 12 JULY 12 6.46 8.55 -O.09 7 30 8.62 5.70 6.06 3.39 9.23 10.38 6.92 COVERED 6URO-OGLLAK DEPOSIT SWISS I N T E R B A N K , COVERED DIFFERENTIAL CHART 9 . L LONG TERM GOVERMENT BOND Y I E L D S UNITED STATES GERMANY JAPAN (MONTHLY) SWITZERLAND CANADA FRANCE NETHERLANDS UNITED KINGDOM U.S. 11.8A 8.76 6.63 7.94 JUNE MAY MAY I N D U S T R I A L STOCK I N D I C E S UNITED STATES JAPAN CANADA FRANCE UNITED KINGDOM SWITZERLAND GERMANY !• 30 30 16 16 7 CORPORATE AAA bONDS EURO-DM BONDS EURO-DOLLAR bCNuS CHART 1 0 . JULY JUNE JUNE JUNE JUNE JUNE JUNE JULY JULY JUNE JUNE JUNE vULY JUNE JUNE 7 30 c3 16 7 30 30 97.50 274.69 94.48 107.47 108.53 73.49 99.61 F E D E R A L R E S E R V E statistical release JULY FOREIGN EXCHANGE RATES FOR THE WEEK ENDING JULY 14, if* 1978 1976 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 dELGlOM CANADA DENMARK FINLAND FRANCE GERMANY INDIA IRELAND ITALY JAPAN MALAYSIA MEXICO NETHERLANDS NfcW ZEALAND NL'RWAY PORTUGAL SOUTH AFRICA SPAIN S K I LANKA SWtDEN SWITZERLAND UNITED KINGDOM MONETARY UNIT DOLLAR SCHILLING FRANC DOLLAR KRONE MARKKA FRANC D• MA RK RUPEE POUND LIRA YEN DOLLAR PESO GUILDER DOLLAR KRONE ESCUDO RAND PESETA RUPEE KRONA FRANC POUND 11 (RATE U . S . CENTS) JULY 12 JULY 10 JULY 113.0000 6.80000 3.10100 69.0750 17.9100 23.8150 22.5200 44.9000 12.1500 188.9500 0.11800 0.49580 42.4700 4.3750 45.3400 103.9000 16.6000 2.2000 115.0000 1.2889 6.3000 22.0900 55.2950 186.9500 114.7500 6.777^0 3.09300 69.1300 17.8300 23.7650 22.4600 48.7700 12.1500 186.4000 0.11780 0.49295 42*4700 4.3750 45.2250 103.5500 16.4600 2.1975 115.0000 1.2665 6.3000 22.0100 55.1250 166.4000 114.5000 6.74750 3.06640 69.0800 17.8000 23.7600 22.4100 48.o100 1<.1500 186.5000 0.11776 0.49190 42.3000 4.3725 45.0200 103.4000 16.5100 2.192 5 115.0000 1.2890 6.3000 21.9600 54.9400 188.5000 JULY 13 114.6500 6.76500 3.06900 88.8750 17.8400 *3.6150 22.4900 46.6600 12.1500 188.5000 0.11792 0.49345 41.4000 4.3725 45.1000 103.5000 16.5200 2.1950 115.0000 1.2898 6.3000 21.9500 55.1000 188.5000 JULY 14 114.6800 6.74750 3.07900 88.9950 17.6300 23.6100 2 2 . 4 250 46.5400 12.3000 168.2000 0.11785 0.49360 4 2 . 3 500 4.3750 44.9900 103.4 500 16.4700 2.1925 115.0000 1.2905 6.4100 21.9400 55.0900 166.<000
@FedFRASER