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Selected Interest & Exchange Rates Weekly Series of Charts MARCH 28, 1977 DIVISION OF INTERNATIONAL FINANCE Prepared by the FINANCIAL MARKETS SECTION 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 RATESH.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 10. INDUSTRIAL STOCK INDEXES Chart 1 SPOT EXCHANGE RATES DOLLAR PRICES OF FOREIGN CURRENCIES AND WEIGHTED AVERAGE VALUES (DASHED LINE) AVERAGES FOR WEEK ENDING WEDNESDAY RATIO S C A L E MAY 1 9 7 0 P A R I T Y = 1 0 0 MAY ,— RATIO SCALE 1 9 7 0 PARITY=100 CANADIAN DOLLAR 100 F O R E I G N CURRENCY PRICE OF U.S. D O L L A R 90 T 80 I l I I ! I y- V' **"" —~ . I 140 - FRENCH F R A N C JAPANESE YEN / I 100 I I I i I I 11 i l l h i l l i SWISS F R A N C GERMAN M A R K U _ J 160 — DUTCH G U I L D E R — BELGIAN FRANC i 140 / 120 — - r " " I I I I i 100 111111 i i i i i . i i i u i i i i i i I 100 ITALIAN LIRA U.K. POUND \ I \\ \ \ vOi x \f - - I 1975 1977 - I I I I 1975 I 80 - - I I l l I 111111 1977 60 Chart 2 3-MONTH FORWARD EXCHANGE RATES PREMIUM M , OR DISCOUNT ( - ) AVERAGES FOR WEEK ENDING WEDNESDAY PER CENT PER ANNUM 6 /Vy CANADIAN DOLLAR - I I I I I I PER CENT PER ANNUM DUTCH G U I L D E R U.K. POUND 12 18 I I I I I III I I I — SWISS F R A N C — GERMAN M A R K \ ~ - I I | I I I 6 12 JAPANESE Y E N 2 per cent on scale equals 1 per cent on all others FRENCH F R A N C 12 - 111! 1975 1977 1975 1977 24 Chart 3 PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY U.S. DOLLARS PER FINE OUNCE 200 12.5 Kg BARS Afternoon fixing price 180 — 160 140 111 1975 - 120 — 100 80 1977 Chart 4 CALL MONEY RATES WEEKLY SERIES PER CENT PER ANNUM PER CENT PER ANNUM 16 16 JAPAN U.S. F E D E R A L FUNDS 12 — - 4 - I I I I " l I I I I i ill i h i l l i | | | I| | | | | | | U.K. 2-DAY LOCAL AUTHORITY J il i i / V — - FRANCE - 1 4 I - A! 12 I - 12 8 I | | i i i M ||||||||| I l l l l i i l l l i — — CANADA 8 4 X. - - NETHERLANDS - i 0 i i MIMIMIII Illlliillli 20 16 - GERMANY 12 EURO-SWISS FRANC 4 EURO-DM 1975 8 4 OVERNIGHT EURO-DOLLARS I 16 - 12 1977 1975 1977 Chart 5 3-MONTH INTEREST RATES WEEKLY SERIES PER CENT PER PER CENT PER ANNUM ANNUM — C A N A D I A N FINANCE CO. PAPER 12 - 1 U \ U N I T E D STATES CD's i M i i 1 i I i n MIIIIMIII U.K. INTERBANK STERLING G E R M A N I N T E R B A N K RATE l l l l l l l l l l l l l l l l l l i 14 - - SWISS DEPOSIT R A T E 1 JAPAN 10 10 - — - f Monthly - EURO-DOLLAR I 1975 I 1 L 111.ILL LL.LJ.LL.I LLLLL LLLL 1977 i n 1 1 1975 1 1977 Chart 6 EURO-DOLLAR DEPOSIT RATES L o n d o n AVERAGES FOR WEEK ENDING WEDNESDAY PER CENT PER ANNUM PER CENT PER 3-MONTH _ OVERNIGHT 12 - - W " I I I / A % A V a ^ - 11111) 11111 i i l i i l n l n 6-MONTH 7-DAY 12 1--MONTH -YEAR 1975 1977 1975 1977 ANNUM Chart 7 SELECTED EURO-DOLLAR AND U.S. MONEY MARKET RATES AVERAGES FOR WEEK ENDING WEDNESDAY PER CENT PER PER ANNUM CENT 12 OVERNIGHT Euro-dollar deposits 3-MONTH Euro-dollar deposits F E D E R A L FUNDS 9 0 - D A Y CD's DIFFERENTIAL Adjusted for reserve requirements DIFFERENTIAL Adjusted for reserve requirements i ^ ^ |t f V • v V < / A / w / vx. i I I I I I I M I I I I I I I I I I I 111111111111M111111111 1975 1977 1975 1977 PER ANNUM Chart 8 INTEREST ARBITRAGE: 3-MONTH FUNDS AVERAGES FOR WEEK ENDING WEDNESDAY DIFFERENTIAL: PLUS(+), INDICATES FAVOR DOLLAR ASSETS PER CENT PER ANNUM PER CENT PER ANNUM E U R O - D O L L A R DEPOSITS ft - A H I N T E R B A N K DM Covered Frankfurt I N T E R B A N K STERLING Covered London E U R O - D O L L A R DEPOSITS DIFFERENTIAL DIFFERENTIAL C A N A D I A N F I N A N C E CO. PAPER. COVERED E U R O - D O L L A R DEPOSITS U.S. C O M M E R C I A L PAPER DIFFERENTIAL DIFFERENTIAL 1975 1977 1975 1977 # Chart 9 LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES PER CENT PER ANNUM PER CENT PER ANNUM CANADA — U N I T E D STATES Illllllllll I I I — 10 i t I I II u l u JAPAN Industrial SWITZERLAND GERMANY 111 11 Lit l u l l l l l l 11 FRANCE UNITED KINGDOM NETHERLANDS Illllllllll U.S. CORPORATE Monthly U.S. CORPORATE Monthly / \ 10 - A 10. / y \ \ Euro-dollar bonds Aaa bonds ~ v / ^ Euro-Dm bonds . 1975 1977 i ^ — i--i-.... 1975 1977 Chart 10 INDUSTRIAL STOCK INDEXES WEEKLY SERIES RATIO 19*9= CALE X) 180 140 U N I T E D STATES 100 RATIO SCALE 1969=100 80 60 UNITED KINGDOM 360 280 JAPAN 200 160 LJ_J 120 ii h i h i h i 180 140 SWITZERLAND CANADA 100 80 60 180 140 FRANCE General Index GERMANY 100 80 I IIIIMIM 60 1975 1977 1975 1977 # S E R I E S NAME 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 . GOLD PRICE U.S. CHART 4 . 23 23 23 23 23 23 23 23 23 23 90.42 128.78 153.18 145.03 71.56 102.82 111.50 171.86 136.35 70.40 MARCH MARCH MARCH MARCH MARCH MARCH MARCH 23 23 23 23 23 23 23 -2.74 -6.38 0.51 —5 . 6 6 1.70 -0.76 -1.61 MARCH 23 150.83 I N LONDON DOLLAR PER F I N E OUNCE CALL MONEY RATES U . S . FEDERAL FUNDS OVERNIGHT EURO-DOLLAR DEPOSITS U . K . 2-DAY LOCAL AUTHORITY DEPOSITS CANADA * GERMANY EURO-DM JAPAN FR ANCE NETHERLANDS EURO-SWISS FRANC CHART 5 . MARCH MARCH MARCH MARCH MARCH MARCH MARCH MARCH MARCH MARCH 3-MONTH FORWARD EXCHANGE RATES CANADIAN DOLLAR U . K . POUND GERMAN MARK FRENCH FRANC SWISS FRANC DUTCH GUILDER JAPANESE YEN . LAST VALUE PLOTTED DATE VALUE MARCH MARCH MARCH MARCH MARCH MARCH MARCH MARCH MARCH MARCH 23 23 18 11 18 18 18 18 4 18 4.77 4.77 10.13 7.75 4.50 4.48 6.50 9.94 5.53 2.05 MARCH MARCH JAN. MARCH MARCH MARCH MARCH 23 23 4.71 4.68 8.17 5.09 7.50 10.04 3.75 3-MONTH INTEREST RATES U . S . C D ' S ( 6 0 - 8 9 DAYS) GERMAN INTERBANK LOAN JAPANESE COMPOSITE LOAN EURO-DOLLAR DEPOSIT CANADIAN FINANCE COMPANY PAPER INTERBANK STERLING SWISS DEPOSIT 23 23 23 23 LAST VALUE PLOTTE# DATE VALUE SERIES NAME CHART 6 . EURO-DOLLAR DEPOSIT RATES: LONDON OVERNIGHT 7-DAY 1-MONTH 3-MONTH 6-MONTH 1-YEAR MARCH MARCH MARCH MARCH MARCH MARCH 23 23 23 23 23 23 4.77 4.78 4.83 5.09 5.51 5.98 23 23 23 23 23 23 4.77 4.77 0.20 5.09 4.71 0.29 EURO-DOLLAR DEPOSIT INTERBANK STERLING ( L O N D O N ) , COVERED DIFFERENTIAL MARCH 23 MARCH 23 MARCH 23 5.0' 3.65 1.43 U . S . COMMERCIAL PAPER CANADIAN FINANCE CO. PAPER, COVERED DIFFERENTIAL MARCH 23 MARCH 2 3 MARCH 23 4.75 4.76 EURO-DOLLAR DEPOSIT INTERBANK DM ( F R A N K F U R T ) , COVERED DIFFERENTIAL MARCH 23 MARCH 23 MARCH 23 -0.10 EURO-DOLLAR DEPOSIT SWISS DEPOSIT ( S F ) , COVERED DIFFERENTIAL MARCH 23 MARCH 23 MARCH i.3 5.09 5.45 -0.36 r . SELECTED EURO-DOLLAR AND U . S . MONEY 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 . C D ' S ( 6 0 - 8 9 DAYS) D I F F E R E N T I A L A D J . FOR RESERVE REQUIREMENTS CHART 8 . MARCH MARCH MARCH MARCH MARCH MARCH INTEREST ARBITRAGE, 3—MONTH FUNDS -0.01 5.09 5.19 # S E R I E S JMAME CHART 9 . LONG TERM GOVERNMENT BOND Y I E L D S UNITED STATES GERMANY JAPAN (MONTHLY) SWITZERLAND CANADA FRANCE NETHERLANDS UNITED KINGDOM U.S. CHART 1 0 . MARCH MARCH FEB. FEB. MARCH MARCH MARCH MARCH 18 18 25 11 11 4 11 7.45 6.83 8.50 3.97 8.70 10.59 7.52 12.33 CORPORATE AAA BONDS EURO—DM BONDS EURO-DOLLAR BONDS # LAST VALUE PLOTTE DATE VALUE INDUSTRIAL UNITED STATES JAPAN CANADA FRANCE UNITED KINGDOM SWITZERLAND GERMANY JAN. JAN. JAN. 7.96 7.05 7.64 STOCK INDEXES MARCH MARCH MARCH FEB. MARCH MARCH MARCH 18 4 4 25 11 16 18 105.93 252.03 95.13 87.36 97.71 72.66 90.48 F E D E R A L H 10 ' R E S E R V E statistical ..lease MARCH 2 8 FOREIGN EXCHANGE RATES FOR THE WEEK ENDING MARCH 2 5 , ' 1,77 1977 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 AUSTRALIA AUSTRIA BELGIUM CANADA DENMARK FINLAND FRANCE GERMANY INDIA IRELAND ITALY JAPAN MALAYSIA MEXICO NETHERLANDS NEW ZEALAND NORWAY PORTUGAL SOUTH A F R I C A SPAIN S R I LANKA SWEDEN SWITZERLAND U N I T E D KINGDOM <RA"FE U . S . 22 MAR. MONETARY UNIT MAR. 2 1 MAR. DOLLAR SCHILLING FRANC DOLLAR KRONE MARKKA FRANC D . MARK RUPEE POUND LIRA YEN DOLLAR PESO GUILDER DOLLAR KRONE ESCUDO RAND PESATA RUPEE KRONA FRANC POUND 110.0600 5.90000 2 . 72 75 0 95.2700 17.0500 26.3500 20.0600 41.8600 11.3300 171.7300 0.11260 0.35830 40.1600 4.4100 40.0800 95.6500 19.0500 2.5800 115.0000 1.4550 13.7000 23.7400 39.2600 171.7300 110.0200 5.89000 2.72700 95.3200 17.0800 26.3400 20.0800 41.8600 11.3300 171.6400 0.11260 0.35850 40.1700 4.4100 40.0300 95.8000 19.0500 2.5800 115.0000 1.4560 13.7000 23.7400 39.4600 171.6400 CENTS 23 1 10.2500 5.89000 2.73000 94 . 9 8 0 0 17.0900 26.3000 20.0900 41.8600 11.3300 171.8000 0.11260 0.36070 40.2100 4.4000 40.1300 95.8500 19.0800 2.5800 115.0000 1 .4569 13.7000 23.7600 39.3600 171.8000 MAR. 24 110.2300 5.89000 2.72850 95.1000 17.0500 26.3100 20.0900 41.8100 11.3300 171.7800 0.11270 0.35910 40.2500 4.4000 40.0800 95.9000 19.0800 2.5800 115.0000 1.4567 13.7000 23.7600 39.1700 171.7800 MAR. 25 110.1200 5.88000 2.72800 95.1700 17.0600 26.3100 20.0900 41.8200 11.3400 171.7500 0.11260 0.35930 40.1500 4.4000 40.0700 95.8500 19.0500 2.5800 115.0000 1.4536 13.7000 23.7600 39.2700 171.7500
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