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5 ~ V v £ > 0#% 1 * * • > f\vi $ * e M * Selected Interest & Exchange Rates Weekly Series of Charts March 27, 1978 Prepared by the FINANCIAL MARKETS SECTION DIVISION OF INTERNATIONAL FINANCE BOARD OF GOVERNORS FEDERAL RESERVE SYSTEM Washington, D C. 20551 s i % X + 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 t(K INDUSTRIAL STOCK INDEXES CHART 1 SPOT EXCHANGE RATES DOLLAR PRICES OF FOREIGN CURRENCIES AND WEIGHTED AVERAGE VALUES (THIN LINE) AVERAGES FOR WEEK ENDING WEDNESDAY RATIO S MAY 1970 PARITY'=100 CALE fO PARITY=100 120 100 FOREIGN CURRENCY PRICE OF U.S. DOLLAR CANADIAN DOLLAR 80 II 140 /A — FRENCH FRANC GERMAN MARK - , . - 120 100 I IIllllllI I I I I I I I I I I II I I I I I I 240 200 SWISS FRANC 180 JAPANESE YEN 160 140 120 11 l u l l 1111 160 DUTCH GUILDER BELGIAN FRANC 140 120 I I I I ill I I 100 110 — 90 U.K. POUND I \ ITALIAN LIRA - 70 V I 1976 1978 I I 1976 I 50 1978 CHART 2 3-MONTH FORWARD EXCHANGE RATES PREMIUM (+) OR ( - ) AVERAGES FOR WEEK ENDING WEDNESDAY PER CENT PER ANNUM CANADIAN DOLLAR ~ - I I I IIIIIIIIII I PER CENT PER ANNUM * — - DUTCH GUILDER - U. K. POUND Ays. A I - - 12 6 - 12 - 18 ——- — SWISS FRANC r — GERMAN MARK / —li v a I — Ai - A I + I I,, I ,, I , , I I I mIMIMIM i < 111111111 — FRENCH FRANC m 1 ~tVM - — JAPANESE YEN - ] - 12 - I 1976 1978 I I 1976 1978 W CHART 3 PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY U.S. DOLLARS PER FINE OUNCE U.S. DOLLARS PER FINE OUNCE 200 180 160 180 160 12.5 Kg BARS AFTERNOON FIXING PRICE 140 140 120 120 100 100 1976 1978 CHART 4 CALL MONEY RATES WEEKLY SERIES PER ENT PER ANNUM PER CENT PER AN 12 U.S. FEDERAL FUNDS 8 4 \jy - JAPAN - OVERNIGHT EURO-DOLLARS — I 0 I I 16 FRANCE 12 8 U.K. 2-DAY LOCAL AUTHORITY 4 0 111llllI I 12 CANADA NETHERLANDS 8 4 0 12 8 EURO-SWISS FRANC GERMANY 4 + 0 EURO-DM 4 1976 1978 1976 1978 CHART 5 3-MONTH INTEREST RATES WEEKLY SERIES PER CENT PER ANNUM BER CENT PER ANNUM h 12 — CANADIANI FINANCE CO. PAPER - EURO-DOLLAR - U.S. CD S I % I I « JAPANESE BANK LOANS AND DISCOUNTS U.K. INTERBANK STERLING 10 SWISS INTERBANK RATE - \ GERMAN INTERBANK RATE I I I I I 1976 I 1978 1976 1978 CHART 6 EURO-DOLLAR DEPOSIT RATES LONDON AVERAGES FOR WEEK ENDING WEDNESDAY PER CENT PER ANNUM, PER CENT PER ANNUM 10 10 - 3-MONTH OVERNIGHT I I I - nil i hilt i i i l n l n l i i 10 10 6-MONTH 7-DAY - I I I I 1-YEAR 10 I 1-MONTH I I IIIIIIIIII I I IIIIIIIII ,: 10 - 1976 1978 1976 1978 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 FEDERAL FUNDS - 10 - 8 — 6 - 2 3-MONTH DASHED LINE EURO-DOLLAR DEPOSITS OVERNIGHT EURO-DOLLAR DEPOSITS h r > v / 90-DAY CD'S DASHED LINE DIFFERENTIAL DIFFERENTIAL ADJUSTED FOR RESERVE REQUIREMENTS ADJUSTED FOR RESERVE REQUIREMENTS + 0 I I I I I I I I I I I I I I I I I I I I I I I 1976 1978 FAVORS BORROWING IN U. S. IF POSITIVE < l I I I I I I I I I I I I I I I I I I I I I I I 1976 1978 2 CHART 8 INTEREST ARBITRAGE: 3-MONTH FUNDS DIFFERENTIAL: PLUSC+), INDICATES FAVOR DOLLAR ASSETS AVERAGES FOR WEEK ENDING WEDNESDAY PER CENT PER ANNUM 10 PER CENT PER 10 - L EURO-DOLLAR DEPOSITS 8 4l, , INTERBANK INTERBANK STERLING y COVERED FRANKFURT COVERED LONDON V a frv# EURO-DOLLAR DEPOSITS DASHED LINE DIFFERENTIAL 9 W* DIFFERENTIAL I I I I I ll I I I I III I I I I I I I I l l I l l I I II l l I l l I I 10 2 10 _ CANADIAN FINANCE CO. PAPER, COVERED _ AU / 1 1 a/ -¥"bL /VA U! r VtyJi ,iA — - - \ /—. zA// i J __ EURO-DOLLAR DEPOSITS /'^ l 1 / — - - SWISS INTERBANK (SF) COVERED - DIFFERENTIAL - : - - DIFFERENTIAL , V v / A fV ^Xy W VzW » » , + o "V V II I I I h i l i 1 1976 4 DASHED LINE - — / - DASHED LINE A A v U.S. COMMERCIAL PAPER - % nil ihill i 1978 ' M I 1 1 1976 1 lllllllllll iilnlnlii 1978 r CHART 9 LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES PER CENT PER ANNUM CENT PER ANNUM 9 CANADA UNITED STATES 7 5 10 JAPAN INDUSTRIAL SWITZERLAND 8 6 GERMANY 4 13 UNITED KINGDOM FRANCE 11 9 7 NETHERLANDS 5 11 U. S. CORPORATE MONTHLY U. S. 9 EURO-DOLLAR CORPORATE MONTHLY BONDS Aaa BONDS 7 E U R O - D M BONDS 5 1976 1978 1976 1978 f CHART 10 INDUSTRIAL STOCK INDEXES WEEKLY SERIES RATIO SCALE 1969=100 RATIO SI 1969' 140 120 200 UNITED STATES 160 100 120 UNITED KINGDOM 80 100 60 320 80 280 JAPAN 240 60 200 40 160 140 120 100 CANADA 100 SWITZERLAND 80 80 60 60 50 140 140 120 120 FRANCE GENERAL INDEX GERMANY 100 100 80 80 60 1976 1978 1976 1978 SERIES NAME * ART 1 . LAST VALUE PLOTTED DATE VALUE 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 MARCH MARCH MARCH MARCH MARCH MARCH MARCH MARCH MARCH 22 22 22 22 22 22 22 22 22 48.98 0.43152 45.76 190.45 88.87 21.43 52.36 3.14750 0.11677 MARCH MARCH MARCH MARCH MARCH MARCH MARCH MARCH MARCH 22 22 22 22 22 22 22 22 22 179.26 155.35 165.66 79.35 96.08 119.05 228.95 157.37 72.98 22 22 22 22 22 22 22 22 22 22 82.97 165.87 138.10 146.26 65.14 81.63 103.28 201.01 138.43 60.25 22 22 22 22 22 22 22 -0.56 0.10 3.93 -2.72 6.88 2.25 6.25 I N D I C E S , MAY 1970 P A R I T I E S = 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 = 1 0 0 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 CHART 2 . MARCH MARCH MARCH MARCH MARCH MARCH MARCH MARCH MARCH MARCH 3-MONTH FORWARD EXCHANGE RATES, PREMIUM OR DISCOUNT CANADIAN DOLLAR U . K . POUND GERMAN MARK FRENCH FRANC SWISS FRANC DUTCH GUILDER JAPANESE YEN MARCH MARCH MARCH MARCH MARCH MARCH MARCH LAST VALUE PLOTTED DATE VALUE f SERIES NAME CHART 3 . i GOLD PRICE I N LONDON U . S . DOLLARS PER FINE OUNCE CHART 4 . MARCH 22 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 . 22 22 17 10 17 17 17 17 24 17 6.77 6.93 6.00 7.28 3.50 3.50 4.25 10.50 4.69 0.21 MARCH MARCH MARCH MARCH MARCH MARCH MARCH 22 22 22 22 22 22 22 6.74 3.50 4.50 7.24 7.55 6.59 0.38 MARCH MARCH MARCH MARCH MARCH MARCH 22 22 22 22 22 22 6.93 6.90 7.11 7.24 7.55 7.70 MARCH 22 MARCH 22 MARCH 22 MARCH 22 MARCH 22 MARCH 22 6.93 6.77 0.45 7.24 6.74 0.37 EURO-DOLLAR DEPOSIT RATES: LONDON OVERNIGHT 7-DAY 1-MONTH 3-MONTH 6-MONTH 1-YEAR CHART 7 . MARCH MARCH MARCH MARCH MARCH MARCH MARCH MARCH FEB. MARCH 3-MONTH INTEREST RATES U . S . 90-DAY CD'S GERMAN INTERBANK LOAN JAPANESE BANK LOANS £ DISCOUNTS EURO-DOLLAR DEPOSIT CANADIAN FINANCE PAPER INTERBANK STERLING SWISS INTERBANK LOAN CHART 6 . 181.02 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 . 90-DAY CD'S DIFFERENTIAL A D J . FOR RESERVE REQUIREMENTS SERIES NAME CHART 6 . LAST VALUE PLOTTED DATE VALUE INTEREST ARBITRAGE, 3-MONTH FUNDS EURO-DOLLAR DEPOSIT INTERBANK STERLING (LONDON), COVERED DIFFERENTIAL MARCH 22 MARCH 22 MARCH 22 7.24 6.69 0.55 U . S . COMMERCIAL PAPER CANADIAN FINANCE PAPER, COVERED DIFFERENTIAL MARCH 22 MARCH 22 MARCH 22 6.75 6.99 -0.24 EURO-DOLLAR DEPOSIT INTERBANK DM (FRANKFURT), COVERED DIFFERENTIAL MARCH 22 MARCH 2 2 MARCH 22 7.24 7.43 -0.19 EURO-DOLLAR DEPOSIT SWISS INTERBANK, COVERED DIFFERENTIAL MARCH 22 MARCH 22 MARCH 22 7.24 7.26 CHART 9 . LONG TERM GOVERMENT BOND YIELDS UNITED STATES GERMANY JAPAN (MONTHLY) SWITZERLAND CANADA FRANCE NETHERLANDS UNITED KINGDOM U.S. MARCH MARCH FEB. MARCH MARCH MARCH FEB. MARCH 17 17 8.00 10 10 3 24 17 3.60 9.14 11.07 7.10 9.84 5.23 6.21 CORPORATE AAA BONDS EURO-DM BONDS EURO-DOLLAR BONDS CHART 1 0 . -0.02 FEB. JAN. JAN. 8.47 6.41 7.99 INDUSTRIAL STOCK INDICES UNITED STATES JAPAN CANADA FRANCE UNITED KINGDOM SWITZERLAND GERMANY MARCH MARCH MARCH MARCH MARCH MARCH MARCH 17 3 3 10 17 17 17 91.82 259.20 83.56 81.28 108.91 72.36 99.16 e -•qoVGOW.-. F E D E R A L H.10 R E S E R V E s t a t i s t i c a l MARCH 2 8 , FOREIGN EXCHANGE RATES FOR THE WEEK ENDING MARCH 2 4 , r e l e a s e 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 City for cable transfers payable in foreign currencies: (RATE U . S . CENTS) MAR. 22 COUNTRY^ MONETARY UNIT MAR. 2 0 MAR. 2 1 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 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 113.8600 6.78000 3.14700 88.9200 17.8300 23.9350 21.5500 48.9650 12.3500 190.3800 0.11680 0.43260 42.4600 4.3900 45.7800 102.1000 18.7500 2.4325 115.0500 1.2536 6.5000 21.7100 52.0700 190.3800 113.7000 6.77500 3.13400 88.8200 17.7450 23.8950 21.4000 48.8800 12.3500 189.9000 0.11675 0.43360 42.4200 4.3950 45.6000 102.1000 18.6300 2.4300 115.0500 1.2492 6.5000 21.6650 51.6700 189.9000 113.6800 6.79500 3.15000 88.7850 17.8400 23.8550 21.4100 49.0000 12.1500 189.8000 0.11690 0.43410 42.3800 4.3950 45.7500 102.0000 18.6450 2.4400 115.0500 1.2503 6.5000 21.7000 52.2100 189.8000 MAR. 2 3 MAR. 2 4 113.7200 6.79500 3.14950 88.8350 17.7550 NA 21.3900 49.0000 12.0000 187.4500 0.11697 0.43475 42.3800 4.3850 45.7900 102.0000 18.6700 2.4425 115.0500 1.2531 6.5000 21.6550 52.3500 187.4500 113.8000 6.79750 3.15300 88.6300 17.7700 NA 21.4200 49.0700 12.0000 187.5000 0.11695 0.43860 42.3700 4.3850 45.8100 101.9000 18.6700 2.4450 115.0500 1.2531 6.5000 21.6600 52.6000 187.5000
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