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i 'i Y •, Ban'h!t/lL 0Fc »ib^ Selected Interest & Exchange Rates Weekly Series of Charts March 12.1979 Prepared by the FINANCIAL MARKETS SECTION DIVISION OF INTERNATIONAL FINANCE 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, $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 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 SCALE MARCH 1973=100 RATIO SCALE MARCH 1973=100 120 100 FOREIGN CURRENCY PRICE OF U.S. DOLLAR 80 CANADIAN DOLLAR v \ 60 180 160 GERMAN MARK - . 140 - 120 - I 100 I I I I I mIMIMIM l l l l l l l l l l l — 160 140 AVA — — A — v JAPANESE YEN 120 FRENCH FRANC — SWISS FRANC zj -~\ / 100 - I 80 I I I I I I I l l l l l l l l i 7 l l l l l l l l l l l — 160 BELGIAN FRANC 140 - 120 - DUTCH GUILDER A / ^ - y - " - - 120 - - 100 100 I I I l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l 100 100 ITALIAN LIRA U.K. POUND - 80 60 1977 1979 1977 1979 CHART 2 3-MONTH FORWARD EXCHANGE RATES PREMIUM (+) OR H AVERAGES FOR WEEK ENDING WEDNESDAY PER CENT PER ANNUM PER CENT PER ANNUM 6 — — CANADIAN DOLLAR ITALIAN LIRA - - - T I M I I i i l i i h i l i , I m i U. K. POUND r i i 24 i DUTCH GUILDER 18 12 ~ - - GERMAN MARK ~~ 6 — SWISS FRANC — 12 v / f - - + 0 Hi ,, I i FRENCH FRANC JAPANESE YEN J i - i i " - I 1977 1979 I I 1977 1979 12 CHART 3 PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY U.S. DOLLARS PER FINE OUNCE U.S. DOLLARS PER FINE OUNCE 260 260 240 240 220 220 12.5 Kg BARS 200 200 AFTERNOON FIXING PRICE 180 160 140 140 120 120 100 1976 1977 1978 1979 CHART 4 CALL MONEY RATES WEEKLY SERIES PER :ENT PER ANNUM PER CENT PER AL 14 10 JAPAN - - OVERNIGHT EURO-DOLLARS 6 V - y ~ 11 U.S. FEDERAL FUNDS I 2 I I I I I 16 U.K. 2-DAY LOCAL AUTHORITY 12 NETHERLANDS 8 4 0 FRANCE 12 CANADA 8 V - J 4 I I II II I I 1 1 1 8 EURO-SWISS FRANC GERMANY 4 + EURO-DM 0 4 1977 1979 1977 1979 CHART 5 3-MONTH INTEREST RATES WEEKLY SERIES PER CENT PER ANNUM PER CENT PER ANNUM 16 U.K. INTERBANK STERLING U.S. CD S WEIGHTED AVERAGE FOREIGN RATE - h GERMAN INTERBANK RATE - - JAPANESE BANK LOANS AND DISCOUNTS - — I I I 1 1 — 1 1 1 1 SWISS INTERBANK RATE j—s CANADIAN FINANCE CO. PAPER — - — X 1A I 1 1 1 1 1977 1 i 1979 i i - 1 1 1977 1 h I M I M I M m I m I m I m 1979 CHART 6 EURO-DOLLAR DEPOSIT RATES LONDON AVERAGES FOR WEEK ENDING WEDNESDAY PER CENT PER ANNUM PER CENT PER ANNUM - OVERNIGHT - 3-MONTH U w 7-DAY 6-MONTH - J - - I l l l l l l l l l l - 1-MONTH - - i i i i i i 1977 i i i i i i i i i i i i I I 1-YEAR - - Vs. - I 1979 I I 1977 I i i h i l i i l n 1979 12 CHART 7 SELECTED EURO-DOLLAR AND U. S. MONEY MARKET RATES AVERAGES FOR WEEK ENDING WEDNESDAY PER CENT PER ANNUM PER CENT PER ANNUM 12 - 10 OVERNIGHT EURO-DOLLAR DEPOSITS 3-MONTH EURO-DOLLAR FEDERAL FUNDS DEPOSITS / DASHED LINE 9 0 - D A Y CD S -J M I I I I I I I II M DASHED LINE M I I I I I I I M I I I M I I I I 4 2 DIFFERENTIAL DIFFERENTIAL A D J U S T E D FOR . RESERVE REQUIREMENTS rV — ~ + 0 V I I I I I I I I I I I I I I I I 1979 1977 FAVORS BORROWING IN U. S. IF POSITIVE I I I 11 I I I I I I i I I I I I 1977 I 11111111111 I I 11 11 I I I I I 1979 CHART 8 INTEREST ARBITRAGE: 3-MONTH FUNDS DIFFERENTIAL: P L U S H , INDICATES FAVOR DOLLAR ASSETS AVERAGES FOR WEEK ENDING WEDNESDAY PER CENT PER ANNUM PER CENT PER ANNUM 16 12 14 - EURO-DOLLAR DEPOSITS CANADIAN FINANCE CO. PAPER, COVERED INTERBANK STERLING COVERED LONDON U.S. COMMERCIAL PAPER DIFFERENTIAL - ^ . V DIFFERENTIAL 1 1 1 1 1 1 A ' llhlllllll IIIIIIIIIM 16 - SWISS INTERBANK (SF) COVERED 14 12 INTERBANK DM COVERED FRANKFURT 10 R'vW EURO-DOLLAR DEPOSITS EURO-DOLLAR DEPOSITS DASHED LINE — 6 - 2 DIFFERENTIAL DIFFERENTIAL 1977 1979 1977 1979 CHART 9 LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES PER CENT PER ANNUM PER CENT PER ANNUM 10 11 — UNITED STATES — J CANADA — - - u h , I , , l u I M l M l M l M l | 7 JAPAN x INDUSTRIAL \ SWITZERLAND - \ - I - GERMANY FRANCE UNITED KINGDOM - rs aJ \ - NETHERLANDS — U. S. CORPORATE i i l i i l n h i MONTHLY U. S. EURO-DOLLAR CORPORATE MONTHLY BONDS Aaa BONDS EURO-DM BONDS 1977 1979 1977 9 1979 CHART 10 INDUSTRIAL STOCK INDICES WEEKLY SERIES 1969: ^ A L E RATIO 196 0 0 140 UNITED STATES 120 UNITED KINGDOM 100 80 360 320 JAPAN 280 240 200 J I I iill111ilii 140 120 SWITZERLAND CANADA 100 80 150 130 FRANCE GENERAL /VyA INDEX 110 - GERMANY - - A 90 70 - I I I I I 1977 I I I I I I I I I 1979 I I I I I I 1977 I 1979 LAST VALU C PLOTTED DATE VALUE SERIES NAME CHART 1 . SPOT EXCHANGE RATES AND INDICES WEEKLY AVERAGES, NOON BUYING PATES ( U . S . GERMAN MARK JAPANESE YEN DUTCH GUILDER U . K . POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC BELGIAN FRANC ITALIAN LIRA INDICES, CENTS) MARCH MARCH MARCH MARCH MARCH MARCH MARCH MARCH MARCH 7 7 7 7 7 7 7 7 7 53.87 0.49930 49.90 202.53 94.32 23.34 59.68 3.40414 0.11**4 MARCH MARCH MARCH MARCH MARCH MARCH MARCH MARCH MARCH 7 7 7 7 7 7 7 7 7 151.55 129.11 143.25 81.92 84.04 105.19 191.99 134.14 67.51 7 7 7 7 7 7 7 7 7 7 7 99.3< 146.32 119.32 132.33 72.05 74.64 94.91 176.96 122.94 59.98 91.75 MARCH 1973 BASE RATES = 100 GERMAN MARK JAPANESE YEN DUTCH GUILDER U . K . POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC BELGIAN FRANC ITALIAN LIRA WEIGHTED AVERAGE EXCHANGE VALUE I N D I C E S , MAR 1973 = 100 ( G - 1 0 COUNTRIES PLUS SWITZERLAND) 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 CHART 2 . MARCH MARCH MARCH MARCH MARCH MARCH MARCH MARCH MARCH MARCH MARCH 3-MONTH FORWARD EXCHANGE RATES, PREMIUM OR DISCOUNT CANADIAN DOLLAR U . K . POUND GERMAN "ARK FRENCH FRANC SWISS CRANC DUTCH GUILDER JAPANESE YEN ITALIAN LIRA MARCH MARCH MARCH MARCH MARCH MARCH MARCH MARCH 7 7 , 7 7 7 7 7 7 -0.22 -1.77 6.93 2.76 11.71 3.50 7.54 - 1 .33 <FRIES CHART 3 . GOLD PRICE I N LONDON, AFTERNOON F I X I N G U.S. CHART 4 . LAST VALUE PLOTT, DATE VALUE NAME DOLLARS O*=R FINE OUNCE 243.39 MARCH 7 MARCH 7 MARCH 2 MARCH 2 MARCH 2 MARCH 2 MARCH 2 MARCH 2 FEB. 16 MARCH 7 10.07 10.19 13.00 11.18 4.05 3.92 4.63 6.63 6.85 0.08 MARCH MARCH MARCH MARCH MARCH MARCH MARCH 7 7 7 7 7 7 7 10.14 4.22 4.50 10.96 12.31 0.0 6.04 MARCH MARCH MARCH MARCH MARCH MARCH 7 7 7 7 7 7 10.19 10.13 10.35 10.61 10.96 10.93 CALL MONEY RATES U . S . FEDERAL FUNDS OVERNIGHT EURO-DOLLAR DEPOSITS U . K . 2-DAY LOCAL AUTHORITY DEPOSITS CANADA GERMANY FURO-DM JAPAN FRANCE NETHERLANDS EURO-<WISS FRANC CHART 7 MARCH 5 . 3-MONTH INTEREST RATES U . S . 90-DAY C D ' S , SECONDARY MARKET GERMAN INTERBANK LOAN JAPANESE BANK LOANS & DISCOUNTS CANADIAN FINANCE PAPER INTERBANK STERLING SWISS INTERBANK LOAN WEIGHTED AVERAGE FOREIGN INTEREST RATF ( G - 1 0 COUNTRIES PLUS SWITZERLAND) CHART 6 . EURO-DOLLAR DEPOSIT RATES: LONDON OVERNIGHT 7-DAY 1-MONTH 3-MONTH 6-MONTH 1-YEAR CHART 7 . SELECTED EURO-DOLLAR AND U . S . MONEY MARKET RATES OVERNIGHT EURO-DOLLAR DEPOSITS U . S . CEDERAL FUNDS DIFFERENTIAL ADJ. FOR RESERVE REQUIREMENTS MARCH MARCH MARCH 7 7 7 10.19 10.07 0.12 3-MONTH EURO-DOLLAR DEPOSIT PFTTF U . S . 90-DAY C D ' S , SECONDARY MARKET DIFFERENTIAL MARCH MARCH MARCH 7 7 7 10.61 10.14 0.47 LAST VALUE PLOTTED DATE VALUE SERIES NAME CHART q . INTEREST ARBITRAGE, 3-MONTH FUNDS ETJRN-DOLLAR DEPOSIT INTERBANK STERLING (LONDON) T DIFFERENTIAL MARCH MARCH MARCH 7 7 7 10.61 10.54 0.07 U . S . COMMERCIAL PAPER CANADIAN FINANCE PAPER, COVERED DIFFERENTIAL MARCH MARCH MARCH 7 7 7 9.96 10.74 -0.78 EURO-DOLLAR DEPOSIT INTERBANK DM (FRANKFURT), COVERED DIFFERENTIAL MARCH MARCH MARCH 7 7 7 10.61 11.15 -0.54 EURO-DOLLAR DEPOSIT SWISS INTERBANK, COVERED DIFFERENTIAL MARCH MARCH MARCH 7 7 7 10.61 11.71 -1.10 MARCH MARCH JAN. FEB. MARCH FEB. FEB. FEB. 2 ? 9.18 6.87 6.12 3.08 9.97 9.49 9.12 11 . 9 0 CHART o . LONG TERM GOVERMENT BOND YIELDS UNITED STATES GERMANY JAPAN (MONTHLY) SWITZERLAND CANADA FRANCE NETHERLANDS UNITED KINGDOM U.S. 23 2 16 16 23 CORPORATE AAA PONDS EURO-DM BONDS EURO-DOLLAR BONDS CHART 1 0 . COVERED JAN. JAN. JAN. 9.25 5.81 8.43 INDUSTRIAL STOCK INDICES UNITED SPATES JAPAN CANADA FRANCE UNITED KINGDOM SWITZERLAND GERMANY MARCH FEB. DEC. FEB. MARCH FEB. FEB. 2 16 29 9 2 16 ?3 100.64 299.63 113.81 124.62 115.44 80.07 104.11 . # & . - ^ F E D E R A L R E S E R V E . l o i i . i i c . i r . i . „ . 1 H.10 MARCH 1 3 , FOREIGN EXCHANGE RATES FOR THE WEEK ENDING MARCH 1979 Q, 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: COUNTRY MONETARY UNIT AUSTRALIA AUSTRIA RELGIUM CANADA DENMARK FINLAND FRANCE GERMANY INDIA IRELAND ITALY JAPAN MALAYSIA MEXICO NETHERLANDS NEW ZEALAND NORWAY PORTUGAL SOUTH AFRICA SPAIN SRI 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 (RATE U . S . CENTS) MAR. MAR. MAR. 112.3800 7.34214 3.39905 84.4240 19.238? 25.1414 23.2991 53.7577 12.1700 202.2300 0.11871 0.48845 45.3720 4,3879 49.8132 105.3000 19.6194 2.0947 118.0000 1.4465 6.4500 22.8624 59.5415 202.2300 112.4300 7.34619 3.40252 84.2670 19.2308 25.1604 23.3155 53.8155 12.170Q 202.4600 0.11883 0.48900 45.3510 4.3879 49.8579 105.4300 19.6271 2.0956 118.0000 1.4465 6.4500 2?.8833 59.6161 202.4600 112.4300 7.35159 3.40832 84.3530 19.2678 25.1857 23.3863 54.0103 12.1700 203.4700 0.11901 0.49020 45.4340 4,3898 50.0250 105.3500 19.7005 2.0964 118.0000 1.4476 6.4500 22.9516 59.9341 203.4700 MAR. MAR. 112.5000 7.36784 3.40832 84.6810 19.2827 25.2398 23.3918 53.9957 12.1700 204.2000 0.11O02 0.48976 45.5890 4.3898 50.0250 105.7000 19.6889 2.0995 118.4400 1.4489 6,4500 22.9516 59.9161 204.2000 112. 4800 7 . 36377 3 . 40483 8 4 . 6170 1 9 . 2123 2 5 . 1984 2 3 . 3754 5 3 . 9899 12. 1700 2 0 3 . 7800 0 . 1186Q 0 . 48852 4 5 . 5060 4 . 3821 49. 9251 1 0 5 . 7000 1 9 . 6618 2. 0973 118. 9 0 0 0 1 . 4482 6. 4500 22. 9226 59. *803 2 0 3 . 7800
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