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Selected Interest & Exchange Rates Weekly Series of Charts JULY 6,1978 DIVISION OF INTERNATIONAL FINANCE Prepared by the FINANCIAL MARKETS SECTION BOARD OF GOVERNORS FEDERAL RESERVE SYSTEM Washington, D.C. 20551 >V 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 (DASHED LINE) AVERAGES FOR WEEK ENDING WEDNESDAY CANADIAN DOLLAR 100 90 FOREIGN CURRENCY m i c e OF U A DOLLAR A .v ^ / / .vv^Z » V\, 80 I I I I I I I i l l ! II1111II l l l l l l l l l l l — JAPANESE YEN ' N FRENCH FRANC /*V V I J I I I V IV I I I I I lllllllllll SWISS FRANC GERMAN MARK iilnltilnl 160 140 120 DUTCH GUILDER BELGIAN FRANC - p f \ J 7 A -Ay I 100 - 1 j * v / ' ^ y / w W " I S/V- r V->/•-» , I I I - I I I lllllllllll lllllllllll ' " M i \ / r 11 i lllllllllll. z Chart 2 / 3-MONTH FORWARD EXCHANGE RATES ' PREMIUMS (+), OR DISCOUNT ( - ) AVERAGES FOR WEEK ENDING WEDNESDAY •NT PER ANNUM < CANADIAN DOLLAR c e PER CENT PER ANNUM 12 e U.K. POUND SWISS FRANC - o 6 12 12 I I I, r I I i Liiiiiiiiii i GERMAN MARK _ DUTCH GUILDER 6 v/V\ : 0 6 I I I liilnlnlii I I I I I I J1 I I I 111 111 •— 6 FRENCH FRANC JAPANESE YEN 2 per cent on scale equals __ 1 per cent on all others - 0 6 12 i' 1 I'ii' III! ! ! i ! h 1 i .uiiiiiiJii, Chart 3 PRICE O F G O L D IN L O N D O N AVERAGES FOR WEEK ENDING WEDNESDAY US. DOLLARS fE* FIE OUNCE 210 125 Kg BARS __ Afternoon fixing price 150 120 SO 1974 Chart 4 CALL MONEY RATES WEEKLY SERIES PER CENT PER ANNUM 15 OVERNIGHT EURO-DOLLARS 10 5 JAPAN U.S. FEDERAL FUNDS Illllllllll 0 Illllllllll Illllllllll 20 20 U.K. 2 - D A Y LOCAL AUTHORITY FRANCE 15 10 5 0 Illllllllll 15 NETHERLANDS CANADA •5 — 20 20 EURO-SWISS FRANC GERMANY EURO-DM 1974 1976 1976 Chart 5 3-MONTH INTEREST RATES WEEKLY SERIES 12 UNITED STATES CD's CANADIAN FINANCE CO. PAPER 8 4 16 U.K. INTERBANK STERLING GERMAN INTERBANK RATE 12 8 4 14 EURO-DOLLAR SWISS DEPOSIT RATE 0 6 JAPAN Monti nliilii 1974 1976 1974 1976 Chart 6 EURO-DOLLAR .DEPOSIT RATES L o n d o n AVERAGES FOR WEEK ENDING WEDNESDAY PER CENT PER Al IT PER ANNUM 16 OVERNIGHT 3-MONTH 12 8 4 16 6-MONTH 7-DAY - 12 8 \ ' IAA 4 111 1 11 16 1-MONTH 1-YEAR - 12 8 - 4 " l I I I I I Chart 7 SELECTED EURO-DOLLAR AND U.S. MONEY MARKET RATES AVERAGES FOR WEEK ENDING WEDNESDAY — | 15 3-MONTH Euro-dollar deposits FEDERAL FUNDS 10 10 OVERNIGHT Euro dollar deposits 5 90 DAY CD's 0 i DIFFERENTIAL Adjusted for reserve requirements ' DIFFERENTIAL Adjusted for reserve requirements ill 1874 Favors Borrowing in U.S. if Positive 1976 1074 1076 Chart 8 INTEREST ARBITRAGE: 3-MONTH FUNDS AVERAGES FOR WEEK ENDING WEDNESDAY DIFFERENTIAL: PLU%(+), INDICATES FAVOR DOLLAR ASSETS PER CENT PER ENT PER ANNUM 20 20 15 INTERBANK DM Covered Frankfurt INTERBANK STERLING Covered London 15 EURO-DOLLAR DEPOSITS 10 10 EURO-DOLLAR DEPOSITS 5 5 0 0 DIFFERENTIAL DIFFERENTIAL 5 5 10 10 15 CANADIAN FINANCE CO. PAPER. COVERED EURO-DOLLAR DEPOSITS 15 SWISS DEPOSITS (SF) COVERED 10 5 10 5 U.S. COMMERCIAL PAPER 0 0 V 5 I w ^ ' DIFFERENTIAL I I lull v Vl\ DIFFERENTIAL A'* /VT 1 5 x Chart 9 LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES 9 CANADA UNITED STATES 7 Illllllllll 5 12 JAPAN \ Industrial .10 8 SWITZERLAND GERMANY 6 18 12 UNITED KINGDOM FRANCE 10 8 NETHERLANDS 6 4 12 12 _ U.S. CORPORATE Monthly 10 __ U S. CORPORATE Monthly Aaa bonds 8 Euro-dollar bonds Euro-Dm bonds 6 1974 1976 1974 1976 Chart 10 INDUSTRIAL STOCK INDEXES WEEKLY SERIES RATIO SCALE 1969=100 180 UNITED STATES 45 140 400 300 100 UNITED KINGDOM JAPAN 200 60 llllllllllll 35 — 140 240 180 SWITZERLAND 100 CANADA 60 100 lllll 60 160 180 FRANCE General Index GERMANY 100 100 60 45 1974 45 1976 1974 1876 SERIES NAME 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 . LAST VALUE PLOTTED DATE VALUE JUNE JUNE JUNE JUNE JUNE JUNE JUNE JUNE JUNE JUNE 30 30 30 30 30 30 30 30 30 30 90.64 121.13 142.05 132.36 74.02 111.70 117.10 177.02 126.07 74.31 JUNE JUNE JUNE JUNE JUNE JUNE JUNE 30 30 30 30 30 30 30 -3.58 -8.07 1.89 3-MONTH FORWARD EXCHANGE RATES CANADIAN DOLLAR U . K . POUND GERMAN MARK FRENCH FRANC SWISS FRANC DUTCH GUILDER JAPANESE YEN -3.68 5.26 -1.86 -0.22 CHART 3 . GOLD PRICE I N LONDON U.S. CHART 4 . DOLLAR PER FINE OUNCE JUNE 30 124.15 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 JUNE JUNE JUNE JUNE JUNE JUNE JUNE JUNE JUNE JUNE 30 30 25 18 25 18 25 25 11 18 5.58 5.62 11.38 9.03 4.50 3.99 JUNE JUNE MAY JUNE JUNE JUNE JUNE 30 30 5.50 4.24 30 30 30 30 6.04 9.47 11.19 4.50 7.00 7.75 4.66 0.35 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 8.26 LAST VALUE PLOTTED DATE VALUE SERIES NAME CHART 6 . EURO-DOLLAR DEPOSIT RATES: LONDON OVERNIGHT 7-DAY 1-MONTH 3-MONTH 6-MONTH 1-YEAR 30 30 30 30 30 30 5.62 5.45 5.65 6.04 6.76 7.36 30 30 30 30 30 30 5.62 5.58 0.27 6.04 5.50 0.44 EURO-DOLLAR DEPOSIT INTERBANK STERLING (LONDON), COVERED DIFFERENTIAL JUNE 30 JUNE 3 0 JUNE 3 0 6.04 3.12 2.92 U . S . COMMERCIAL PAPER CANADIAN FINANCE CO. PAPER, COVERED DIFFERENTIAL JUNE 3 0 JUNE 30 JUNE 3 0 5.68 5.90 EURO-DOLLAR DEPOSIT INTERBANK DM ( F R A N K F U R T ) , DIFFERENTIAL JUNE 3 0 JUNE 30 JUNE 3 0 -0.10 JUNE 30 JUNE 30 JUNE 3 0 6.04 9.76 -3.72 CHART 7 . JUNE JUNE JUNE JUNE JUNE JUNE 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) D I F F E R E N T I A L A D J . FOR RESERVE REQUIREMENTS CHART 8 . INTEREST ARBITRAGE, 3-MONTH FUNDS COVERED EURO-DOLLAR DEPOSIT SWISS DEPOSIT ( S F ) , COVERED DIFFERENTIAL JUNE JUNE JUNE JUNE JUNE JUNE -0.22 6.04 6.13 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 JUNE JUNE MAY JUNE JUNE JUNE JUNE JUNE 25 25 18 18 18 11 18 7 .81 8 .03 8.77 5 .16 9.32 10,. 0 6 8.28 13.,77 U . S . CORPORATE AAA BONDS EURO-DM BONDS EURO-DOLLAR BONDS MAY MAY MAY 8.58 7.52 8.27 CHART 1 0 . INDUSTRIAL STOCK INDEXES UNITED STATES JAPAN CANADA FRANCE UNITED KINGDOM SWITZERLAND GERMANY JUNE JUNE JUNE JUNE JUNE JUNE JUNE 25 11 4 11 16 25 25 109.01 232.55 106.53 104.56 92.16 71.26 97.29 FEDERAL H.10 RESERVE statistical release JULY FOREIGN EXCHANGE RATES FOR THE WEEK ENDING JULY 2, 61 1976 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: COUNT RY AUSTRALIA AUSTRIA BELGIUM CANADA DENMARK FINLAND FRANCE GERMANY INDIA IRELAND ITALY JAPAN MALAYSIA MEXICO NETHERLANDS NEW ZEALAND NORWAY PORTUGAL SOUTH AFRICA SPAIN S R I LANKA SWEDEN SWITZERLAND U N I T E D KINGDOM MONETARY UNIT DOLLAR SCHILLING FRANC DOLLAR KRONE MARKKA FRANC D . MARK RUPEE POUND LIRA YEN DOLLAR PESO GUILDER DOLLAR KRONE ESCUDO RAND PESATA RUPEE KRONA FRANC POUND JUNE 28 123.0600 5.43000 2.51820 103.2100 16.2600 25.7200 21.0600 38.7500 11.1000 177.4200 0.11890 0.33780 39.3400 8.0000 36.5100 98.4900 17.9400 3.1800 115.3000 1.4725 11.5000 22.4600 40.5500 177.4200 JUNE 2 9 (RATE U . S . CENTS) JUNE 3 0 123.2500 5.42000 2.51700 102.8600 1 6 . 2 500 25.7200 21.0700 38.8000 11.1000 177.9500 0.12010 0.33670 39.3200 8.0000 36.5500 98.6000 17.9400 3.1700 115.3000 1.4725 11.5000 22.4500 40.4200 177.9500 123.3100 5.43000 2.51850 103.2200 16.2800 25.7200 21.1000 38.8300 11.1000 178.5000 0.11910 0.33560 39.3100 8.0000 36.6800 98.7400 17.9800 3.1700 115.3000 1.4730 11.5000 22.4800 40.5100 178.5000 JULY 1 123.3100 5.43000 2.51780 103.2400 16.2900 25.7400 21.0900 38.8000 11.1000 179.0000 0.11910 0.33680 39.3200 8.0000 36.6500 98.8600 17.9700 3.1700 115.3000 1.4720 11.5000 22.4900 40 . 4 9 0 0 179.0000 JULY 2 123.3800 5.42000 2.51900 103.0200 16 . 2 6 0 0 25.7800 21.0600 38.7900 11.2500 179.1100 0.11920 0.33650 39 . 3 4 0 0 8.0000 36.6600 99.0000 17.9400 3.1800 114.&000 1.4725 11.5000 22.4700 40.5000 179.1100
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