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(516/517)
LIBRARY
AUG
71979
b!NKKOF CHICAGO
Selected Interest &
Exchange Rates
Weekly Series of Charts
#
July 30,1979
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, $13JiO 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 INDICES
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 INDICES
CHART
1
SPOT EXCHANGE INDICES
DOLLAR PRICES OF FOREIGN CURRENCIES AND WEIGHTED AVERAGE VALUES (THIN LINE)
AVERAGES FOR WEEK ENDING WEDNESDAY
RATIO >CALE
MARCH 1 9 7 3 = 1 0 0
RATIO
MARCH 197;
120
100
80
FOREIGN CURRENCY
PRICE OF U.S. DOLLAR
CANADIAN DOLLAR
GERMAN MARK
FRENCH FRANC
60
180
160
140
120
-
I
100
160
I
I
—
—
140
JAPANESE YEN
SWISS FRANC
Y
—
NL\/
120
100
-
80
I I
I III III II
160
140
-
DUTCH GUILDER
BELGIAN FRANC
A /
120
100
I I I III I I I
100
ITALIAN LIRA
80
U.K. POUND
60
1977
1979
1977
1979
CHART 2
3-MONTH FORWARD EXCHANGE RATES
PREMIUM (+) OR ( - )
AVERAGES FOR WEEK ENDING WEDNESDAY
PER CENT PER ANNUM
PER CENT PER ANNUM
6
—
CANADIAN DOLLAR
ITALIAN LIRA
%
-
24
U. K. POUND
DUTCH GUILDER
18
12
—
GERMAN MARK
SWISS FRANC
6
A/
J
—
v
—
\l
12
-
+OI
i i i 11 i i 11 In hili i
i
FRENCH FRANC
1977
i
M
n
i
, ,
l , l , , l , , l ~
-
JAPANESE YEN
1979
1977
12
1979
#
CHART
3
PRICE OF GOLD IN LONDON
AVERAGES FOR WEEK ENDING WEDNESDAY
L&9S
U.S. DOLLARS PER FINE OUNCE
F!NE
320
300
280
260
12.5 Kg BARS
240
AFTERNOON FIXING PRICE
220
220
-
200
200
180
180
160 —
-
160
140
-
-
140
120
-
-
120
100
I I I I I I
100
1976
1977
1978
1979
CHART 4
CALL MONEY RATES
WEEKLY SERIES
:ENT PER ANNUM
PER CENT PER AL
14
JAPAN
10
OVERNIGHT EURO-DOLLARS
6
U.S. FEDERAL FUNDS
2
16
12
U.K. 2 - D A Y LOCAL
AUTHORITY
NETHERLANDS
8
4
0
—
—
FRANCE
1
-
CANADA
J
1 1 1
EURO-SWISS FRANC
GERMANY
1977
1979
1977
1979
-
CHART 5
s
3-MONTH INTEREST RATES
WEEKLY SERIES
PER CENT PER ANNUM
PER CENT PER ANNUM
16
16
U.K. INTERBANK STERLING
v
12
U.S.
CD'S
WEIGHTED AVERAGE
FOREIGN RATE
GERMAN INTERBANK RATE
—
J
~
JAPANESE BANK
LOANS AND DISCOUNTS
~
I
I
I
I
I
I
III
SWISS INTERBANK RATE
CANADIAN FINANCE CO. PAPER
1977
1979
1977
1979
4
CHART
6
EURO-DOLLAR DEPOSIT RATES
LONDON
AVERAGES FOR WEEK ENDING WEDNESDAY
PER CENT PER ANNUM
PER CENT PER ANNUM
OVERNIGHT
7-DAY
3-MONTH
L
>
1-MONTH
1977
6-MONTH
1-YEAR
1979
1977
1979
i
e
CHART
7
e
SELECTED EURO-DOLLAR AND U. S. MONEY MARKET RATES
AVERAGES FOR WEEK ENDING WEDNESDAY
PER CENT PER ANNUM
PER CENT PER ANNUM
12
12
10
10
OVERNIGHT
EURO-DOLLAR
DEPOSITS
3-MONTH
EURO-DOLLAR
FEDERAL FUNDS
J/
DASHED LINE
WXV"
DEPOSITS
9 0 - D A Y CD' S
DASHED LINE
V
I I I I I I I I I I
I
±1
I
~
v
'f
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 I I
4
2
DIFFERENTIAL
DIFFERENTIAL
ADJUSTED
1
FOR RESERVE
REQUIREMENTS
WvA
i
—
-
+
0
1
1
I
1977
F A V O R S BORROWING IN U. S . IF POSITIVE
I I 1I I 1I 11I I
I 11 1 11I 11M
1979
I
I
I I I I I I I I I I I
I
1977
i i 11 11 i i ! i i
1979
CHART 8
INTEREST ARBITRAGE: 3-MONTH FUNDS
DIFFERENTIAL: PLUS(+), INDICATES FAVOR DOLLAR ASSETS
AVERAGES FOR WEEK ENDING WEDNESDAY
PER CENT PER ANNUM
16
I—
12
EURO-DOLLAR DEPOSITS
CANADIAN FINANCE
CO. PAPER, COVERED
8
4
/
INTERBANK STERLING
+
0
COVERED LONDON
7
U.S. COMMERCIAL PAPER
4
4
DIFFERENTIAL
+
0
DIFFERENTIAL
16
16
14
SWISS INTERBANK (SF) COVERED
12
INTERBANK DM
10
COVERED FRANKFURT
8
EURO-DOLLAR DEPOSITS
EURO-DOLLAR DEPOSITS
6
DASHED LINE
4
2
DIFFERENTIAL
+
0
DIFFERENTIAL
2
1977
1979
1977
1979
CHART
9
LONG-TERM GOVERNMENT BOND YIELDS
WEEKLY SERIES
e
PER CENT PER ANNUM
PER CENT PER ANNUM
10
11
—
UNITED STATES
—
8
-
p.
-
e
V
•
-
-
-
I I I I I I I I I I I I II I II I III I
—
—
•
4
r^\
~
9
—
~ i
l
! | |
l
M l l l l M l M
7
—
*
GERMANY
J
-
—
-
I
-
-
-
I
SWITZERLAND
K j
8
6
CANADA
-
6
10
—
—
-
1
I
16
UNITED KINGDOM
FRANCE
14
12
10
NETHERLANDS
8
11
11
U. S.
CORPORATE
MONTHLY
MONTHLY
-
Aaa
BONDS
*
A
EURO-DOLLAR
BONDS
I
1977
JAPAN
1979
I
I
I
I
1977
I
{
/
1979
—
;
CHART 10
INDUSTRIAL STOCK INDICES
WEEKLY SERIES
RATIO
1969=
RATIO «
196!
CALE
DO
140
120
UNITED STATES
UNITED KINGDOM
100
80
360
320
JAPAN
280
240
200
140
SWITZERLAND
120
CANADA
100
80
150
130
FRANCE
GENERAL
INDEX
110
-
90
-
GERMANY
-
-
\
70
1977
1979
1977
1979
S E R I E S NAME
CHART 1 .
LAST VALUE PLOTTED
DATE
VALUE
SPOT EXCHANGE RATES AND I N D I C E S
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
ITALIAN LIRA
I N D I C E S , MARCH 1 9 7 3
WEIGHTED AVERAGE EXCHANGE VALUE I N D I C E S , MAR 1 9 7 3 =
( G - 1 0 COUNTRIES PLUS SWITZERLAND)
CHART 2 .
25
25
25
25
25
25
25
25
25
5 5 . 22
46361
5 0 . 20
2 3 0 . 28
6 5 . 85
2 3 . 66
6 1 . 09
3. 45211
12263
JULY
JULY
JULY
JULY
JULY
JULY
JULY
JULY
JULY
25
25
25
25
25
25
25
25
25
1 5 5 ., 3 4
1 2 1 .. 3 9
1 4 4 ., 1 1
9 3 . • 14
8 5 .. 5 7
1 0 6 .. 6 9
1 9 6 .. 5 4
136.03
6 9 ..66
25
25
25
25
25
25
25
25
25
25
25
86.31
1 4 1 ., 4 3
109.12
130.58
8 1 . .35
74. 61
9 4 . 45
177.88
122.37
59.81
93.81
25
25
25
25
25
25
25
25
-0.33
-2.72
4.67
-0.67
10.07
1.58
5.46
-5.38
0.
0.
BASE RATES = 1 0 0
GERMAN MARK
JAPANESE YEN
DUTCH GUILDER
U . K . POUND
CANADIAN DOLLAR
FRENCH FRANC
SWISS FRANC
BELGIAN FRANC
ITALIAN LIRA
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 LIRA
SWEDISH KRONA
JULY
JULY
JULY
JULY
JULY
JULY
JULY
JULY
JULY
100
JULY
JULY
JULY
JULY
JULY
JULY
JULY
JULY
JULY
JULY
JULY
3-MONTH FORWARD EXCHANGE R A T E S , PREMIUM OR DISCOUNT
CANADIAN DOLLAR
U . K . POUND
GERMAN MARK
FRENCH FRANC
SWISS FRANC
DUTCH GUILDER
JAPANESE YEN
I T A L I A N LIRA
JULY
JULY
JULY
JULY
JULY
JULY
JULY
JULY
LAST VALUE PLOTTED
DATE
VALUE
S E R I E S NAME
CHART 3 .
GOLD PRICE I N
U.S.
LONDON,
*
AFTERNOON F I X I N G
DOLLARS PER F I N E OUNCE
JULY 2 5
302.2b
JULY
JULY
JULY
JULY
JULY
JULY
JULY
JULY
JUNE
JULY
25
25
20
20
20
20
20
20
15
20
10.63
10.74
14.00
10.65
5.95
5.45
5.56
9.25
7.10
0.74
JULY
JULY
JULY
JULY
JULY
JULY
JULY
25
25
25
25
25
25
25
10.29
6.80
6.38
11.39
13.90
1.10
8.38
JULY
JULY
JULY
JULY
JULY
JULY
25
25
25
25
25
25
10.74
10.75
10.88
11.04
11.04
10.71
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
JULY 2 5
JULY Zb
JULY 25
10.74
10.63
0.11
3-MONTH EURO-DOLLAR DEPOSIT RATE
U . S . 9 0 - D A Y C D ' S , SECONDARY MARKET
DIFFERENTIAL
JULY 2 5
J U L Y 25
JULY 25
11.04
10.29
0.75
4.
CALL MONEY RATES
U . S . FEDERAL FUNDS
OVERNIGHT EURO—DULLAR 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 C D ' S , SECONDARY MARKET
GERMAN INTERBANK LOAN
JAPANESE BANK LOANS & DISCOUNTS
CANADIAN FINANCE PAPER
INTERBANK STERLING
SWISS INTERBANK LOAN
WEIGHTED AVERAGE FOREIGN INTEREST RATE
(G—10 COUNTRIES PLUS SWITZERLAND)
CHART 6 .
EURO-DOLLAR DEPOSIT R A T E S : LONDON
OVERNIGHT
7-DAY
1-MONTH
3-MONTH
6-MONTH
1-YEAR
.
SELECTED EURO-DOLLAR AND U . S .
MONEY MARKET RATES
'
L A S !
S E R I E S
#
CHART 8 .
NAMt.
INTEREST A R B I T R A G E ,
J U L Y
25
JULY zt
JUL Y 25
1 1 ,. 0 4
1 1 .. 0 0
- 0 ..04
J U L Y 25
J U L Y 25
JULY 25
S,. 9 6
1 1 ,. 0 5
- 1 . ,Gv
EURO-DOLLAR D E P O S I T
INTERBANK DM ( F R A N K F U R T ) , COVERED
DIFFERENTIAL
J U L Y 25
J U L Y 25
JULY 25
1 1 ., 0 4
1 1 .. 5 5
- 0 ..52
EURO-DOLLAR DEPOSIT
SWISS I N T E R B A N K , COVERED
DIFFERENTIAL
JULY 25
J U L Y 25
JULY 25
1 1 .. 0 4
1 1 .. 2 0
—0.. 1 6
20
13
9 ,. 0 1
7 .. 6 5
.07
3 .. 4 5
9 .. 7 6
1 0 . W3
6 .. 6 1
1 0 .. 4 3
U . S . COMMERCIAL PAPER
CANADIAN FINANCE PAPER,
DIFFERENTIAL
CHART 9 .
U.S.
LONG TERM GOVERMENT BOND Y I E L D S
JULY
JULY
JUNE
JULY
JULY
JULY
JUNE
JULY
13
20
6
15
13
ti.
CORPORATE
AAA BONDS
EURO-DM BONDS
EURO-DOLLAR BONDS
10.
CuVtRfcD
COVERED
U N I T E D STATES
GERMANY
JAPAN (MONTHLY)
SWITZERLAND
CANADA
FRANCE
NETHERLANDS
U N I T E D KINGDOM
I N D U S T R I A L STOCK
U N I T E D STATES
JAPAN
CANADA
FRANCE
U N I T E D KINGDOM
SWITZERLAND
GERMANY
p
PLOTTED
VALUE
3-MONTH k-UNLS
EURO-DOLLAK DEPOSIT
INTERBANK S T E A L I N G ( LONDON) ,
DIFFERENTIAL
#
VALUE
U A l E
9.29
6.63
fc.72
JUNE
DEC .
MAY
INDICES
JULY
JUNE
DEC .
JUNE
JULY
JULY
JULY
20
29
29
29
6
13
13
105.17
295.69
113.81
134.60
112.20
77.22
97.01
FEDERAL RESERVE
H.10(512)
statistical release
FOREIGN EXCHANGE RATES
FOR THE WEEK ENDING
JULY 2 7 ,
1979
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:
(RA1FE U . S .
JULY
COUNTRY „
MONETARY
UNIT
JULY 23
JULY
AUSTRALIA
AUSTRIA
BELGIUM
CANADA
DENMARK
FINLAND
FRANCE
GERMANY
INDIA
IRELAND
ITALY
JAPAN
MALAYSIA
MEXICO
NETHERLANDS
NEW ZEALAND
NORWAY
PORTUGAL
SOUTH A F R I C A
SPAIN
S R I LANKA
SWEDEN
SWITZERLAND
UNITED KINGDOM
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
113.2000
7.52445
3.45066
85.9993
19.2309
26.1540
23.6826
55.2090
12.8200
209.0000
0.12262
0.46350
46.7290
4.3783
50.2184
102.5500
19.9164
2.0661
118.5500
1.5117
6.4100
23.8152
61.2595
230.1500
113.6000
7.51880
3.46140
85.8222
19.2104
26.2674
23.7501
5 5 . 26 08
12.9000
209.0000
0.12305
0.46642
46.8055
4.3764
50.2765
103.0000
19.9521
2.0683
119.0000
1.5038
6.4100
23.8834
61.2183
232.5500
24
CENTS]
25
113.5200
7.50187
3.44947
85.7633
19.1791
26.2157
23.6574 ,
55.3955
12.9000
208.8000
0.12262
0.46458
46.6201
4.3783
50.1128
102.8800
19.9442
2.0619
119.1000
1.5060
6.4100
23.8493
60.9756
232.0500
JULY
26
113.5100
7.47663
3.43761
85.5359
1°.1131
26.2639
23.6211
54.9541
12.9000
207.4000
0.12252
0.46505
46.6636
4.3783
5 0. 0000
103.0000
19.9481
2.0619
119.1000
1.5083
6.4100
23.8663
60.7977
232.9000
JULY
27
113.4600
7.48223
3.43171
85.4847
19.1387
26.2020
23.6016
54.9541
12.6000
206.5000
0.12247
0.46425
46.6309
4.3783
49.9875
132.8500
19.9382
2.0597
119.3500
1 .5 090
6.200 3
23.8920
60.R45R
231.3000
@FedFRASER