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June 18, 1969 No. 407 H-13 Division of International Finance Europe and British Commonwealth Section LIBRARY JUN FEDERAL REGSRVA OF RICHMOND CdfiTflL SELECTED INTEREST & EXCHANGE RATES FOR MAJOR COUNTRIES & THE US. WEEKLY SERIES OF CHARTS N O T E Due to technical difficulties, we are unable to reproduce the charts in the H.13 series this week. This issue contains the current week's data only and we hope to resume publication of the charts next week. BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM TABLE OF CONTENTS PART I. EXCHANGE RATES AND GOLD PRICES Chart 1A and 16 - Spot Exchange Rates, Major Currencies against U.S. Dollar Chart 2 - 3-Month Forward Exchange Rates, Major Currencies against U.S. Dollar Chart 3 - 3-Month Forward Exchange Rates, Major Currencies against U.K. Pound Chart 4 - Gold Price in London PART II. SHORT-TERM INTEREST RATES Chart 5 Chart 6 Chart 7 Chart 8 Chart 9A and 9B Chart 10 Chart 11 Chart 12. - Call Money Rates London: Euro-S Deposit Rates New York - London: Yields on U.S. Dollar Funds London: Covered Yields on U.S. Dollar Funds Interest Arbitrage: United States-United Kingdom Interest Arbitrage: U.S.-Germany and U.S.-Switzerland Interest Arbitrage: United States-Canada Selected Short-term Interest Rates PART III. LONG-TERM INTEREST RATES AND STOCK INDICES Chart 13 Chart 14 - Long-Term Bond Yields - Industrial Stock Indices PART IV. LATEST FIGURES PLOTTED ON THE CHARTS NOTE: This series is a continuation of the CAPITAL MARKETS DEVELOPMENTS ABROAD, which has been published under that title through December 31, 1968. The changes in the format and order of the charts are fully explained in the Supplement to the series, ttfiich accompanied issue dated January 1,1969. 3 H. 13 No. 407 IV, LATEST FIGURES PLOTTED ON THE CHARTS Rate Chart Panel Series Date 1A Upper Swiss franc June 13 + 1.38 - 0.04 U.K. pound ii Dutch guilder ii French franc ii - 0.46 - 0.76 - 0.75 German mark Lower Japanese yen IB Upper 2 Lower ii „ Italian lira it Canadian dollar „ - 0.41 German mark || + 6.69 + 1.76 0. 68 + 0.23 Swiss franc 11 It - 4.41 Dutch guilder || 4- A . 1 1 .1 + 1.40 „ +10.36 French franc „ - 8.31 Upper German mark U.S. dollar II 4 3.56 Lower Swiss franc II + 4.90 || - 2.76 || 41.61 June 11 10.88 9.13 French franc Gold price, U.S. dollar per ounce 4 Upper 5 - U.K. pound Canadian dollar 3 + 0.37 Belgian franc Call Euro-$ deposits Federal Funds Middle Differential Lower Japanese Unconditional Money '1 German Call Money U.K. 2-day Local Authority Deposits French Day-to-day Money " ii + 1.75 June 6 June 13 6.94 5. 13 II 8.06 ii 9.62 IV - 2 Rate Chart Panel Series Date 6 Upper Euro-$ Call Rate Euro-$ 1-month Rate June 13 ii 11.75 Euro-S 3-month Rate n 11.63 June 11 12. 25 u it +4.02 Lower Euro-$ 6-month Rate 7 Upper Euro-$ 3-month Deposits „ U.S. Certificate of Deposits Second Third Differential Euro-$ 3-month Deposits U.S. Certificate of Deposits (Adj.) Fourth 8 Upper Differential Euro-$ 3-month Deposits Third Fourth 9A 10 „ ii 12.25 6.38 +5.87 Differential n Euro-$ 3-month Deposits ii Local Authority Deposits (covered) " -6.19 11.06 5.00 Differential || A. 87 - 6 . 06 U.S. Treasury Bill rate June 13 6.73 U.K. Treasury Bill rate ii 7.71 Upper Spread (+ = favor London) Lower 3-month Forward Pound Net Incentive (+ = favor London) Upper 8.23 11.06 Local Authority Deposit (uncovered) 9B 11.25 June 6 „ Hire Purchase Deposits (covered) Second 10.50 Euro-$ Deposits (covered) German Interbank Loan rate „ „ +0.98 " -4.04 „ 9.62 -3.06 June 11 5.25 ii 5.50 Second Differential ii +0.25 Third Euro-$ Deposits (covered) " 10.49 Swiss Deposit rate Fourth Differential „ ,i 5.00 -5.49 £ IV-3 Chart Panel Series Date 11 Upper Canadian Finance Paper June 13 7.13 it 6.88 ii ii ,i +n. i s U.S. Treasury Bill rate Rate 6.73 Canadian Treasury Bill rate U.S. Prime Finance paper (not plotted) Middle Bill rate differential Lower Net incentive on bills 7.25 Forward Canadian dollar Net incentive on Finance Paper 12 Upper Euro-$ Deposits „ U.K. Treasury Bill rate II 7.71 U.S. Treasury Bill rate n 6.73 II 5.00 „ Swiss 3-month Deposit rate Lower 7.36 Canadian Treasury Bill rate June 13 6.88 „ June 6 7.42 Canada June 11 7.77 6.08 June 6 4.62 United Kingdom June 12 9.66„ Euro-dollar bonds June 13 7.07 U.S. Corp. Dollar Euro-bonds A p r i l 30 " 7.22 6.21 Mav 31 6.79 United States Lower 6. 73 5.50 Netherlands Switzerland Middle 11. 63 A p r i l 30 German Interbank Loan rate Upper . _ _ + ! • 18 Japanese Average rate U.S. Treasury Bill rate 13 + 1.30 + 1.45 Germany U.S. Corp. DM Euro-bonds 6.42 U.S. Corp. Aaa bonds . „ IV-4 Rate Chart Panel Series 14 Upper Switzerland June 13 406.8 Germany June 6 June 13 298. 8 221.6 United States Date United Kingdom Lower Japan Canada United States n 221. 7 344.8 June 5 240. 0 June 13 221.6
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