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Selected Interest & Exchange Rates Weekly Series of Charts JULY 7,1975 DIVISION OF INTERNATIONAL FINANCE Prepared by the FINANCIAL MARKETS SECTION BOARD OF GOVERNORS FEDERAL RESERVE SYSTEM Washington, D C. 20551 y Table of Contents CHARTS TABLES 1. SPOT EXCHANGE RATE INDEXES 1. LATEST FIGURES PLOTTED 2. 3-MONTH FORWARD EXCHANGE RATES 2. DAILY CERTIFIED SPOT EXCHANGE RATES-H.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 DOLLAR PRICES OF FOREIGN CURRENCIES AND WEIGHTED AVERAGE VALUES (DASHED LINE) AVERAGES FOR WEEK ENDING WEDNESDAY SCALE Y=100 120 CANADIAN DOLLAR 100 FOREIGN CURRENCY PRICE OF U.S. D O L L A R 90 100 80 80 JAPANESE YEN 140 140 FRENCH FRANC 120 120 v X ' - V W 100 100 200 200 - 180 180 160 - GERMAN MARK J 160 I 140 140 M / 120 100 SWISS F R A N C S A V J f ~ I M M I / / 120 - w - -1-TT7 i r . I I I I m I M I M I M 11111111111 100 160 160 DUTCH GUILDER BELGIAN FRANC 140 140 120 120 100 100 120 120 ITALIAN LIRA U.K. P O U N D - _ v 100 100 \ - X / ^ 80 I 80 I I I I I I Chart 2 3-MONTH FORWARD EXCHANGE RATES PREMIUM (+), OR DISCOUNT ( - ) AVERAGES FOR WEEK ENDING WEDNESDAY :NT PER ANNUM 6 CANADIAN DOLLAR ^ 0 6 I I I I I I " llllillllll PER CENT PER ANNUM 12 6 _• SWISS FRANC 0 ^ j 6 I 12 12 GERMAN MARK I I DUTCH GUILDER 6 0 6 6 FRENCH FRANC JAPANESE YEN 2 per cent on scale equals 1 per cent on all others 0 6 12 I I I I I I Chart 3 PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY US. DOLLARS PER FINE OUNCE 210 12.5 Kg BARS __ Afternoon fixing price 180 150 120 60 30 1973 1975 Chart 4 CALL MONEY RATES WEEKLY SERIES PER CENT OVERNIGHT EURO-DOLLARS 15 — JAPAN 10 5 U.S. FEDERAL FUNDS 0 20 20 U.K. 2 - D A Y LOCAL AUTHORITY 15 FRANCE 10 5 0 15 15 NETHERLANDS 10 CANADA 5 o 11 20 20 EURO-SWISS FRANC 15 GERMANY EURO-DM 1973 1975 1973 1975 1 Chart 5 3-MONTH INTEREST RATES WEEKLY SERIES PER CENT PER ANNUM CANADIAN FINANCE CO. PAPER 12 UNITED STATES CD's 8 4 U.K. INTERBANK STERLING GERMAN INTERBANK RATE 16 12 8 4 12 16 EURO-DOLLAR 12 SWISS DEPOSIT RATI 8 JAPAN Monthly 4 1873 1975 1973 1975 % Chart 6 U EURO-DOLLAR DEPOSIT RATES London AVERAGES FOR WEEK ENDING WEDNESDAY 16 OVERNIGHT 3-MONTH 12 8 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 3-MONTH Euro-dollar deposits FEDERAL FUNDS 10 OVERNIGHT Euro dollar deposits 60-89 D A Y CD'S 5 DIFFERENTIAL Adjusted for reserve requirements DIFFERENTIAL Adjusted for reserve requirements 1 1973 Favors Borrowing in U.S. if Positive 1975 1973 1975 Chart 8 INTEREST ARBITRAGE: 3-MONTH FUNDS AVERAGES FOR WEEK ENDING WEDNESDAY DIFFERENTIAL: PLUS (+), INDICATES FAVOR DOLLAR ASSETS PER PER ANNUM PEA CtKt ft* 20 15 SO INTERBANK DM, Covered Frankfurt EURO-DOLLAR DEPOSITS 15 INTERBANK STERLING Covered London ^ 10 10 5 0 5 EURO-DOLLAR DEPOSITS i DIFFERENTIAL DIFFERENTIAL 5 5 10 10 15 - C A N A D I A N FINANCE CO. PAPER, COVERED 15 EURO-DOLLAR DEPOSITS 10 5 10 U.S. COMMERCIAL PAPER 5 SWISS DEPOSITS (SF) COVERED 1 0 | V V-Aa»V v v 8 -+ V Y' DIFFERENTIAL DIFFERENTIAL 5 5 1973 1975 1973 1875 V Chart 9 LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES PER ANNUM PER CENT PER 10 9 U N I T E D STATES CANADA 7 •• 8 5 8 12 9 SWITZERLAND GERMANY 10 7 - 8 / /JAPAN Industrial 5 • - 6 M i l I l I I I I 3 I 18 14 UNITED KINGDOM T 12 FRANCE 10 - V\ 18 14 12 8 NETHERLANDS 10 6 4 12 I U.S. CORPORATE Monthly 10 - I I I M I I 11 11 I M 8 I 12 U.S. CORPORATE Monthly Euro-Dm bonds „ Euro-dollar bonds — / - y 8 8 8 10 I n 1 i i i iiiiiiiiin ..IhIhIm 8 \ <1 Chart 10 INDUSTRIAL STOCK INDEXES i ^ WEEKLY.SERIES RATIC 1968= 180 UNITED STATES 100 60 45 320 UNITED KINGDOM JAPAN 240 160 \ I I I I I I 80 I 180 CANADA SWITZERLAND 100 80 45 I I I I I I I ll I I I I I I I 180 FRANCE General index GERMANY 100 - 60 - 45 I I I I I 1973 I 1975 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 CHART 2 . JULY JULY JULY JULY JULY JULY JULY JULY JULY JULY 2 2 2 2 2 2 2 2 2 2 80.37 121.73 155.08 147.92 92,23 104.99 137.13 174.33 141.41 99.02 JULY JULY JULY JULY JULY JULY JULY 2 2 2 2 2 2 2 -0.81 -3.57 2.06 -3.25 2.87 2.98 0.06 JULY 2 165.25 JULY JULY JUNE JUNE JUNE JUNE JUNE JUNE JUNE JUNE 2 2 27 27 27 27 20 27 20 27 6.31 6.32 9.31 6.75 =".50 5.48 11.00 7.00 0.65 1.17 JULY 2 JULY 2 MAY 30 JULY 2 JULY 2 JULY 2 JULY 2 5.88 4.92 9.30 6.84 7.38 9.64 6.50 3-MONTH FORWARD EXCHANGE RATES CANADIAN DOLLAR U . K . POUND GERMAN MARK FRENCH FRANC SWISS CRANC DUTCH GUILDER JAPANESE YEN CHART 3 . GOLD PRICE I N LONDON U.S. CHART 4 . DOLLAR PER FINE OUNCE 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 LAST VALUE PLOTTED DATE VALUE SERIES NAME CHART 6 . EURO-DOLLAR DEPOSIT RATES: LONDON JULY JULY JULY JULY JULY JULY OVERNIGHT 7-DAY 1-MONTH 3-MQNTH 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 . CD'S ( 6 0 - 8 9 DAYS) DIFFERENTIAL A D J . FOR RESERVE REQUIREMENTS CHART 8 . 6.32 5.89 6.33 6.84 7.44 7.81 JULY JULY JULY JULY JULY JULY 2 2 2 2 2 2 6.32 6.31 0.27 6.84 5.88 0.87 INTEREST ARBITRAGE, 3-MONTH FUNDS EURO-DOLLAR DEPOSIT INTERBANK STERLING (LONDON), COVERED DIFFERENTIAL JULY JULY JULY 6.84 6.07 0.77 U . S . COMMERCIAL PAPER CANADIAN FINANCE CO. PAPER, COVERED DIFFERENTIAL JULY JULY JULY 6.56 -0.36 EURO-DOLLAR DEPOSIT INTERBANK DM (FRANKFURT), COVERED DIFFERENTIAL JULY JULY JULY 6.84 6.98 -0.14 EURO-DOLLAR DEPOSIT SWISS DEPOSIT ( S F ) , COVERED DIFFERENTIAL JULY JULY JULY 6.20 2 2 2 6.84 9.37 -2.53 SERIES NAME CHART 9 • LAST VALUE PLOTTED DATE VALUE LONG TERM GOVERNMENT BOND YIELDS UNITED STATES GERMANY JAPAN (MONTHLY) SWITZERLAND CANADA FRANCE NETHERLANDS UNITED KINGDOM JUNE JUNE MAY MAY JUNE JUNE JUNE JUNE 27 20 30. 30 27 13 20 20 7#95 8.17 9,34 6.76 8.88 9.98 7.51 14.68 U . S . CORPORATE AAA BONDS EURO-DM BONDS EURO-DOLLAR BONDS CHART 1 0 . MAY 3 0 MAY 3 0 MAY 3 0 8.90 8.42 8.62 INDUSTRIAL STOCK INDEXES UNITED STATES JAPAN CANADA FRANCE UNITED KINGDOM SWITZERLAND GERMANY JUNE JUNE JUNE JUNE JUNE JUNE JUNE 27 20 13 13 20 27 20 98.81 217.10 101.82 99.07 79.51 64.73 84.50 flip FEDERAL RESERVE s t a t i s t i c a l r e l e a s e JULY H.10 7, 1975 FOREIGN EXCHANGE RATES FOR THE WEEK ENDING JULY 4, 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 foreignjcurrencies: 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 FRASER UNITED KINGDOM Digitized for IRATE U . S . CENTS JULY 2 MONETARY UNIT JUNE 30 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 132.3500 6.00000 2 . 8 3 2 50 97,0300 18.2600 28.1600 24.7500 42.4700 11.9000 219.3500 0.15850 0.33820 43.2800 8.0000 40.9600 129.0500 20.2500 4.0900 139 . 7000 1.7835 14.5000 25.4100 39.9600 219.3500 131.9500 6.00000 2.81850 97.1000 18.1400 27.7700 24.5800 42.2800 11.9000 220.9000 0.15820 0.33820 43.2800 8.0000 40.7200 130.1000 20.1500 4.0700 139,7000 1.7795 14.5000 25.3300 39.8100 220.9000 1 132.1500 5.96000 2.79700 97.0700 18.0100 27.9300 24.3100 41.9300 11.7500 219.9500 0.15720 0.33840 43.1300 8.0000 40.3900 128.8500 19.9400 4.0500 139.7000 1.7750 14.5000 25.1000 39.4600 219.9500 JULY 3 132.0000 6.08000 2.79300 97.2100 17.8900 27.8200 24.3300 41.9000 11.8000 219.4500 0.15670 0.33850 42.9000 8.0000 40.3600 128.4500 19.8300 4.0300 139.7000 1.7695 14.5000 25.0100 39.4000 219.4500 JULY 4 H 0 L I D A Y 1
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