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6 V W j x » •• June 1 2 . 1 9 7 8 - DIVISION OF INTERNATIONAL FINANCE P r e p M d by the F I N A N C I A L MARKETS SECTION BOARD OF GOVERNORS FEDERAL RESERVE SYSTEM Washington, D C. 20551 $ y • 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 a 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 SCALE 70 PARITY=100 RATIO SCALE TY=100 MAY 1970 PARI1 120 100 FOREIGN CURRENCY PRICE OF U.S. DOLLAR CANADIAN DOLLAR 80 140 FRENCH FRANC GERMAN MARK 120 100 240 200 SWISS FRANC JAPANESE YEN 180 160 140 120 160 DUTCH GUILDER BELGIAN FRANC 140 120 100 110 90 U.K. POUND 70 50 1976 1978 1976 1978 CHART 2 3-MONTH FORWARD EXCHANGE RATES PREMIUM (+) OR ( - ) AVERAGES FOR WEEK ENDING WEDNESDAY PER CENT PER ANNUM 6 CANADIAN DOLLAR - I I I I I I PER CENT PER ANNUM - - DUTCH GUILDER U. K. POUND - A ( U - 12 12 18 I I I I I I 1 1 1 1 1 1 1 1 1 1 1 - SWISS FRANC r \ 1 1 1 GERMAN MARK 1 1 1 V / ,, I l ,, I L - - FRENCH FRANC — JAPANESE YEN — J - 1 1976 1978 1 1 1976 1978 CHART 3 PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY U.S. DOLLARS PER FINE OUNCE U.S. DOLLARS PER FINE OUNCE 200 200 180 - 160 - 12.5 Kg BARS - 180 - 160 - 140 - 120 AFTERNOON FIXING PRICE 140 - 120 I I 100 1976 I I I I 100 1978. CHART 4 CALL MONEY RATES WEEKLY SERIES PER CENT PER ANNUM 12 U.S. FEDERAL FUNDS JAPAN 8 4 OVERNIGHT EURO-DOLLARS 0 16 FRANCE 12 8 U.K. 2-DAY LOCAL AUTHORITY 4 0 12 NETHERLANDS CANADA 8 4 0 12 8 EURO-SWISS FRANC GERMANY 4 + 0 EURO-DM 4 1976 1978 1976 1978 9 CHART 5 3-MONTH INTEREST RATES WEEKLY SERIES PER CENT PER ANNUM ER CENT PER ANNUM 12 CANADIAN FINANCE CO. PAPER EURO-DOLLAR •a, r u U.S. CD S V JAPANESE BANK LOANS AND DISCOUNTS - U.K. INTERBANK STERLING 10 SWISS INTERBANK RATE - ~Y GERMAN INTERBANK RATE I I I I I 1976 I 1978 1976 1978 1 CHART 6 EURO-DOLLAR DEPOSIT RATES LONDON AVERAGES FOR WEEK ENDING WEDNESDAY PER CENT PER ANNUM PER CENT PER ANNj OVERNIGHT 6-MONTH 7-DAY 1-YEAR 1-MONTH 1976 1976 1976 1978 e i 2 ( CHART 7 SELECTED EURO-DOLLAR AND U. S. MONEY MARKET RATES AVERAGES FOR WEEK ENDING WEDNESDAY PER CENT PER ANNUM PER CENT PER ANNUM 10 10 FEDERAL FUNDS DASHED LINE EURO-DOLLAR DEPOSITS OVERNIGHT EURO-DOLLAR DEPOSITS 90-DAY CD'S DASHED LINE DIFFERENTIAL DIFFERENTIAL ADJUSTED FOR RESERVE REQUIREMENTS ADJUSTED FOR RESERVE REQUIREMENTS + 0 I I 11111111111 1 L I 1976 FAVORS BORROWING IN U. S. IF POSITIVE i i I i i I i i I i i I i i I i i h i I M I 2 ±1 1978 1976 1978 CHART 8 INTEREST ARBITRAGE: 3-MONTH FUNDS DIFFERENTIAL: PLUS(+), INDICATES FAVOR DOLLAR ASSETS AVERAGES FOR WEEK ENDING WEDNESDAY PER PER CENT PER Ah ENT PER ANNUM 10 EURO-DOLLAR DEPOSITS 8 INTERBANK DM INTERBANK STERLING COVERED FRANKFURT COVERED LONDON 6 EURO-DOLLAR DEPOSITS 4 DASHED LINE 2 DIFFERENTIAL + 0 DIFFERENTIAL I 2 I I MIII II I IM IIII I IiiliiliiIii 10 L_ CANADIAN FINANCE CO. PAPER, _ COVERED EURO-DOLLAR DEPOSITS 8 6 4 U.S. COMMERCIAL PAPER SWISS INTERBANK (SF) COVERED DASHED LINE DASHED LINE DIFFERENTIAL DIFFERENTIAL 2 + 0 VV I I III III II III III II 2 1976 1978 11 I I I I I I I I 11 I I I I I I I 1976 1978 CHART 9 LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES PER I PER CENT PER ANF IL PER ANNUM 9 CANADA UNITED STATES — A J - 7 - 5 l I l I I I I 10 I In I I JAPAN INDUSTRIAL SWITZERLAND 8 6 GERMANY 4 13 UNITED KINGDOM FRANCE 11 9 7 NETHERLANDS 5 11 U. S. CORPORATE MONTHLY U. S. 9 CORPORATE MONTHLY E U R O - D O L L A R BONDS Aaa BONDS 7 EURO-DM BONDS 5 1976 1978 1976 1978 CHART 10 INDUSTRIAL STOCK INDEXES WEEKLY SERIES RATIO SCALE 1969=100 RATIO SCALI 1969=1 140 - 120 - UNITED STATES 160 100 ~~ «/U / ^X/M<vVAa f ~~ UNITED KINGDOM j \ - 80 - - - , 120 100 I 60 320 — 280 - I l 1 1 1 l y l — - r i — 80 - JAPAN - 240 I / - - 200 60 - - 40 160 1 1 1 1 1 1 I l h l l n l u 1 1 1 1 1 1 140 120 100 CANADA 100 \A/ / 80 J_L 60 SWITZERLAND , 80 " 60 1 1 1 50 140 120 140 - A r GENERAL INDEX GERMANY 100 80 60 1 - ~~ y I I I I I 1976 I 120 - FRANCE 100 — — 11111111111 - 1 1978 l l 1 1 1976 1 80 60 1978 SERIES NAME LAST VALUE PLOTTED DATE VALUE • C H A R T 1 . SPOT EXCHANGE RATES 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 I T A L I A N LIRA JUNE JUNE JUNE JUNE JUNE JUNE JUNE JUNE JUNE 7 7 7 7 7 7 7 7 7 47.87 0.45219 44.65 182.32 89.33 21.73 52.43 3.05904 0.11589 JUNE JUNE JUNE JUNE JUNE JUNE JUNE JUNE JUNE 7 7 7 7 7 7 7 7 7 175.21 102.79 161.62 75.97 96.58 120.70 229.29 152.95 72.43 7 7 7 7 7 7 7 7 7 7 83.74 162.96 146.35 143.58 62.40 82.74 105.69 202.76 135.35 60.22 7 7 7 7 7 7 7 -0.27 -3.09 4.66 -1.77 6.83 3.28 5.11 I N D I C E S , MAY 1970 PARITIES = 100 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 WEIGHTED AVERAGE EXCHANGE VALUE I N D I C E S , MAY 1 9 7 0 = 100 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 FRANC JUNE JUNE JUNE JUNE JUNE JUNE JUNE JUNE JUNE JUNE CHAR: 2 . 3-MONTH FORWARD EXCHANGE RATES, PREMIUM OR DISCOUNT CANADIAN DOLLAR U . K . POUND GERMAN MARK FRENCH FRANC SWISS FRANC DUTCH GUILDER JAPANESE YEN JUNE JUNE JUNE JUNE JUNE JUNE JUNE SERIES NAME CHART 3 . LAST VALUE PLOTTED DATE VALUE GOLD PRICE I N LONDON U . S . DOLLARS PER F I N E OUNCE 7 182.96 7 JUNE JUNE 7 JUNE 2 2 JUNE JUNE 2 JUNE 2 JUNE 2 2 JUNE MAY 19 2 JUNE 7.47 7.67 8.25 8.00 3.50 3.53 4.13 7.88 4.19 3.42 7 7 7 7 7 7 7 7.35 3.56 4.75 8.00 8.14 9.69 1.25 JUNE 4 . CALL MONEY RATES U . S . FEDERAL FUNDS OVERNIGHT EURO-DOLLAR DEPOSITS U . K . 2-DAY LOCAL AUTHORITY DEPOSITS CANADA GERMANY EURO-ON JAPAN FRANCE NETHERLANDS EURO-SWISS FRANC 5. 3-MONTH INTEREST RATES U . S . 90-DAY C D ' S GERMAN INTERBANK LOAN JAPANESE BANK LOANS & DISCOUNTS EURO-DOLLAR DEPOSIT CANADIAN FINANCE PAPER INTERBANK STERLING SWISS INTERBANK LOAN CHART 6 . EURO-DOLLAR DEPOSIT RATES: LONDON OVERNIGHT 7-DAY 1-MONTH 3-MONTH 6—MONTH 1—YfcAR CHART 7 . JUNE JUNE JUNE JUNE JUNE JUNE JUNE # JUNE JUNE JUNE JUNE JUNE JUNE 7 7 7 7 7 7 7.67 7.61 7.71 a . 00 8.47 8.65 7 7 7 7 7 7 7.67 7.47 0.52 8.00 7.35 0.51 SELECTED EURO-DOLLAR AND U . S . MONfcY 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 . 90-DAY C D ' S D I F F E R E N T I A L A D J . FOR RESERVE REQUIREMENTS JUNE JUNE JUNE JUNE JUNE JUNE SERIES NAME CHART 8 . LAST VALUE PLOTTED DATE VALUE I N T E R t S T ARBITRAGE, 3-MONTH FUNDS EURO-DOLLAR DEPOSIT INTERBANK STERLING tLONDON!» COVERED DIFFERENTIAL JUNE JUNE JUNE 7 7 7 6.00 6.59 1.41 U . S . COMMERCIAL PAPER CANADIAN FINANCE PAPER, COVERED DIFFERENTIAL JUNE JUNE JUNE 7 7 7 7.34 7.07 -0.53 EURO-DOLLAR DEPOSIT INTERBANK DM ( F R A N K F U R T ) , COVERED DIFFERENTIAL JUNE JUNE JUNE 7 7 7 8.00 8.22 -0.22 EURO-DOLLAR DEPOSIT SWISS INTERBANK, COVERED DIFFERENTIAL JUNE JUNE JUNE 7 7 7 8.00 8.08 —0.08 JUNE MAY APRIL MAY JUNE MAY MAY JUNE 2 19 8.41 5.44 5.98 3.48 9.23 10.51 6.80 11.58 CHART 9 . LONG TERM GOVERMtNT BOND Y I E L D S UNITED STATES GERMANY JAPAN (MONTHLY) SWITZERLAND CANADA FRANCE NETHERLANDS UNITED KINGDOM 26 2 19 19 2 U . S . CORPORATE AAA BONDS EORO-DM BONDS EURO-OOLLAR BONDS CHART 1 0 . APRIL APRIL APRIL 8.56 6.52 7.83 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 JUNE MAY MAY MAY JUNE JUNE MAY 2 19 19 12 2 2 19 100.50 269.10 94.58 102.15 113.27 72.41 98.13 •mm:-. F E D E R H. 10 A L R E S E R V E s t a t i s t i c a l r e l e a s e JUNE 1 2 , FOREIGN EXCHANGE RATES FOR THE WEEK ENOINb JUNE 9, 1976 1978 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 ^ i t y for cable transfers payable in foreign currencies: COUNTRY^ AUSTRALIA AUSTRIA BELGIUM CANADA DENMARK FINLANu FRANCE GERMANY INDIA IRELAND ITALY JAPAN MALAYSIA MEXICO NETHERLANDS NEW ZEALAND NORWAY PORTUGAL SOUTH AFRICA SPAIN S R I LANKA SWEDEN SWITZERLAND UNITED KINGDOM MONETARY UNIT JUNE 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 113.3500 to.66250 3.06150 89.3500 17.7300 <3.3850 21.6900 47.7500 11.9000 162.0000 0.11600 0.45250 41.9150 4.3800 44.5600 101.2000 16.4400 2.1975 115.1000 1.2508 6.2700 <1.5800 51.6000 182.0000 5 JUNE 6 ( R A T t U . S . CENTS) JUNE 7 113.3000 6.O5500 3.05750 89.3700 17.7000 23.3150 21.6800 47.6900 11.9000 162.4500 0.11595 0.45250 41.8400 4.3850 44.620* 101.4000 16.4500 2.1725 115.1000 1.2460 6.2700 21.5100 52.2700 162.4500 113.2200 6.65000 3.05900 89.1600 17.7000 23.3100 21.7050 47.6500 11.9000 162.2900 0.11600 0.45250 41.8600 4.3850 44.6600 101.3000 18.4500 2.1775 115.1000 1.2505 6.2700 21.5700 , 52.3700 162.2900 JUNE 8 113.3500 6.67000 3.06460 89.4300 17.6800 23.2800 21.7250 47.9250 11.9000 164.4700 0.11620 O.45270 41.8500 4.3850 44.7500 101.4500 16.4900 2.1875 115.1000 1.2531 6.2700 21.6400 52.7300 162.4700 JUNE 9 113.3000 6.65250 3.06200 89.2406 17.6850 23.3050 21.7700 47.9500 11.9000 162.6400 0.11615 0.45330 41.6400 4.3750 44.6700 101.3060 16.4300 2.1600 115.1000 1.2522 6.2700 21.6200 52.7800 182.6400
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