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Selected Interest & Exchange Rates Weekly Series of Charts c MARCH 3,1975 Prepared by the FINANCIAL MARKETS SECTION DIVISION OF INTERNATIONAL FINANCE BOARD OF GOVERNORS FEDERAL RESERVE SYSTEM Washington, D C. 20551 Table of Contents CHARTS TABLES 1. SPOT EXCHANGE RATE INDEXES 1. LATEST FIGURES PLOTTED 2. 3-MONTH FORWARD EXCHANGE RATES 2. DAILY CERTIFIED SPOT EXCHANGE RATES-H.10 RELEASE 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 3 Chart 1 SPOT EXCHANGE RATES I N D E X E S O F D O L L A R PRICES O F F O R E I G N C U R R E N C I E S A V E R A G E S FOR W E E K E N D I N G W E D N E S D A Y RATI " FOREIGN CURRENCY " P R I C E OF U.S. DOLLAR Weighted average 100 120 CANADIAN DOLLAR 90 100 80 I I I I I I I A . JAPANESE YEN 140 140 120 iFRENCH FRAN'C 120 - 100 100 _ L _ L I _ l _ L I I I I I i I I I I I I I I t Il l l l l l l l l l l 180 180 GERMAN M A R K 180 SWISS FRANC r - 140 180 140 120 120 - 100 100 I 180 I I I i I i i h i l n l i i n i l , I n l n DUTCH GUILDER BELGIAN FRANC 140 f V - 120 —I 180 - 140 / 120 100 100 I I I I I I H l n h i l n 120 U.K. POUND 7^—x ITALIAN LIRA - - _ v 100 H l i i l n l n - 120 100 - 80 I I I I I I l i l l l l h l h l I I I I I I 80 Chart 2 3-MONTH FORWARD EXCHANGE RATES PREMIUM W , OR DISCOUNT ( - ) AVERAGES FOR WEEK ENDING WEDNESDAY CEKT PER ANNUM CANADIAN DOLLAR 6 SWISS FRANC U.K. POUND 5 6 Illilllllll 12 12 t* GERMAN MARK DUTCH GUILDEn e & 6 6 FRENCH FRANC JAPANESE YEN 2 per cent on scale equals 1 per cent on all others 8 8 84 12 1873 1875 1873 1876 Chart 3 PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY 210 12.5 Kg BARS Afternoon fixing price 180 150 120 60 30 1973 1975 'hart 4 I M u MONEY RATES WEEKLY SERIES •'PER CENT PER ANNUM * 'OVERNIGHT EURO-DOLLARS PER CENT PER ANNUM 15 JAPAN I - U.S. FEDERAL FUNDS I I I I I I U.K. 2 - D A Y LOCAL AUTHORITY FRANCE I I I I I I IIIIIIMIM 11 i 11111 f 1J NETHERLANDS CANADA I I I I I I MlMlMlM VwVi i JilJillllll lllllllilll EURO-SWISS FRANC GERMANY EURO-DM nlnlHlnhilmiilH Chart 5 3-MONTH INTEREST RATES WEEKLY SERIES PER CANADIAN FINANCE CO. PAPER 12 UNITED STATES CD's 8 4 U.K. INTERBANK STERLING GERMAN INTERBANK RATE 16 12 8 4 16 12 EURO-DOLLAR 12 SWISS DEPOSIT RATE 8 JAPAN Monthly 1973 1975 1973 1975 Chart 6 0 EURO-DOLLAR DEPOSIT RATES London AVERAGES FOR WEEK ENDING WEDNESDAY 16 OVERNIGHT 3-MONTH 12 8 16 16 7-DAY 6-MONTH 12 8 4 16 16 1-MONTH 1-YEAR 12 8 4 lllllllllll 1973 1975 1973 1975 Chart 7 SELECTED EURO-DOLLAR AND U.S. MONEY MARKET RATES AVERAGES FOR WEEK ENDING WEDNESDAY PER CENT PER ANNUM PER CENT PER ANNUM 15 15 3-MONTH Euro-dollar deposits FEDERAL FUNDS OVERNIGHT Euro-dollar deposits 60-89 DAY CD'S }I - \fc\r\w VV . v DIFFERENTIAL Adjusted for reserve requirements I I I http://fraser.stlouisfed.org/ Favors Borrowinq in U.S. if Positive Federal Reserve Bank of St. Louis I I I I I I I VW ' DIFFERENTIAL Adjusted for reserve requirements I I I I I Chart 8_ T T E S F S T ARBITRAGE: 3-MONTH FUNDS AVERAGES FOR WEEK ENDING WEDNESDAY DIFFERENTIAL: PLUS (+), INDICATES FAVOR DOLLAR ASSETS PER ANNUM PER CENT PER 20 20 15 INTERBANK DM, Covered Frankfurt EURO-DOLLAR DEPOSITS 15 INTERBANK STERUNG Covered London ^ 10 10 5 0 5 EURO-DOLLAR DEPOSITS A/v rVH M / DIFFERENTIAL V-,V~' 0 I DIFFERENTIAL 5 5 10 10 II111 15 ~ CANADIAN FINANCE CO. PAPER, COVERED 15 EURO-DOLLAR DEPOSITS 10 10 5 U.S. COMMERCIAL PAPER 5 SWISS DEPOSITS (SF) COVERED ' 8 0 | ' t\V\yvV DIFFERENTIAL DIFFERENTIAL 5 5 1973 1975 1973 1975 A Chart 9 LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES PtR e UNITED STATES CANADA 7 5 12 SWITZERLAND GERMANY / JAPAN Industrial 8 6 i i l i i l n l i i 14 UNITED KINGDOM 12 FRANCE m 8 NETHERLANDS 6 Illllllllll 4 12 U.S. CORPORATE Monthly U.S. CORPORATE Monthly Euro-Dm bonds 10 - Aaa bonds Euro-dollar bonds 8 6 I l l l l l l l l l l 1973 1975 10 Chart 10 INDUSTRIAL STOCK INDEXES WEEKLY SERIES RATIO SCALE 1969=100 180 UNITED STATES 100 60 45 320 140 UNITED KINGDOM JAPAN 240 100 180 60 160 180 CANADA SWITZERLAND 100 100 180 180 FRANCE . General index GERMANY 100 too 60 lllil 45 1973 1975 1973 1975 45 SERIES NAME LAST VALUE PLOTTED DATE VALUE 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 ITALIAN LIRA FEB. FEB. FEB. FEB. FEB. FEB. FEB. FEB. FEB. FEB. 26 26 26 26 26 26 26 26 26 26 78.42 125.18 159.08 152.38 100.54 108.19 131.53 179.77 145.40 98.65 FEB. FEB. FEB. FEB. FEB. FEB. FEB. 26 26 26 26 26 26 26 0.50 -4.36 1.30 -2.79 2.99 -0.23 0.01 FEB. 26 184.35 CHART 2 . 3-MONTH FORWARD EXCHANGE RATES 1 - CANADIAN DOLLAR U . K . POUND GERMAN MARK FRENCH FRANC SWISS FRANC DUTCH GUILDER JAPANESE YEN y CHART 3 . GOLD PRICE I N LONDON U . S . DOLLAR PER FINE OUNCE CHART 4 . 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 FEB. FEB. FEB. FEB. FEE. FEB. FEB. FEB. FEB. FEB. 26 26 21 14 21 21 14 21 14 21 6.15 5.90 10.63 6.90 1.60 1.85 13.00 9.75 7.38 - 0.70 FEB. FEB. JAN. FEB. FEB. FEB. FEB. 26 26 6.13 5.92 9.37 7.34 6.75 10.8 3 7.00 # CHART 5 . 3-MONTH INTEREST RATES 1 1 -1 •> af 4 5 U . S . CD'S ( 6 0 - 8 9 DAYS) GERMAN INTERBANK LOAN JAPANESE COMPOSITE LO»N EURO-DOLLAR DEPOSIT CANADIAN FINANCE COMPANY PAPER INTERBANK STERLING SWISS DEPOSIT 26 26 26 26 SERIES NAME LAST VALUE PLOTTED DATE VALUE CHART 6 . EURO-DOLLAR DEPOSIT RATES: LONDON OVERNIGHT 7-DAY 1-MONTH 3-MONTH 6-MONTH 1-YEAR 26 26 26 26 26 26 5.90 6.22 6.48 7.34 7.59 7.79 26 26 26 26 26 26 5.90 6.15 0.27 7.34 6.13 1.45 EURO-DOLLAR DEPOSIT INTERBANK STERLING (LONDON), COVERED DIFFERENTIAL FEB. 26 FEB. 26 FEB. 26 7.34 6.46 0.87 U . S . COMMERCIAL PAPER CANADIAN FINANCE CO. PAPER, COVERED DIFFERENTIAL FEB. 26 FEB. 26 FEB. 26 6.25 7.25 -1.00 EURO-DOLLAR DEPOSIT INTERBANK DM (FRANKFURT), COVERED DIFFERENTIAL FEB. 26 FEB. 26 FEB. 26 7.34 7.22 0.12 EURO-DOLLAR DEPOSIT SWISS DEPOSIT ( S F ) , COVERED DIFFERENTIAL FEB. 26 FEB. 26 FEB. 26 7.34 9.99 -2.65 FEB. FEB. FEB. FEB. FEB. FEB. CHART 7 . SELECTED EURO-DOLLAR AND U . S . MONEY MARKET RATES OVERNIGHT EURO-DOLLAR DEPOSITS U . S . FEDERAL FUNDS DIFFERENTIAL ADJ. FOR RESERVE REQUIREMENTS 3-MONTH EURO-DOLLAR DEPOSIT RATE U . S . CD'S ( 6 0 - 8 9 DAYS) DIFFERENTIAL ADJ. FOR RESERVE REQUIREMENTS FEB. FEB. FEB. FEB. FEB. FEB. CHART 8 . INTEREST ARBITRAGE, 3-MONTH FUNDS SERIES NAME LAST VALUE PLOTTED DATE VALUE CHART 9 . LONG TERM GOVERNMENT BOND YIELDS UNITED STATES GERMANY JAPAN (MONTHLY) SWITZERLAND CANADA FRANCE NETHERLANDS UNITED KINGDOM 28 14 31 31 14 14 14 14 7 .20 8 .73 10 . 6 4 6.83 8.14 10.59 8.43 14.51 JAN. 3 1 JAN. 3 1 JAN. 3 1 8,.83 8 ,67 8.74 FEB. FEB. JAN. JAN. FEB. FEB. FEB. FEB. U . S . CORPORATE AAA BONDS EURO-DM BONDS EURO-DOLLAR BONDS CHART 1 0 . INDUSTRIAL STOCK INDEXES UNITED STATES JAPAN CANADA FRANCE UNITED KINGDOM SWITZERLAND GERMANY FEB. FEB. FEB. FEB. FEB. FEB. FEB. 21 14 7 14 14 21 14 85 . 2 1 198 . 3 1 91 . 8 0 96 . 7 2 65 . 5 3 63 . 5 5 81 . 2 3 FEDERAL RESERVE • 10 FEBRUARY 2 8 , 1975 FOREIGN EXCHANGE RATES FOR THE WEEK ENDING FEBRUARY 2 8 , 1975 The Board 'of Governors jof 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 AFRICA SPAIN S R I LANKA SWEDEN SWITZERLAND UNITED KINGDOM FRASER Digitized for (RATE U . S . CENTS F E B . 26 MONETARY UNIT FEB. 24 FEB. 2 5 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 135.5000 6.11000 2.91250 99.9700 18.2700 28.6700 23.7600 43.5900 12.6000 241.9500 0.15810 0.34980 44.5000 8.0000 42.1700 133.8500 20.2000 4.1400 147.6500 1.7800 15.3000 25.5200 41.1400 241.9500 135.9000 6.15000 2.90750 100.2600 18.3000 28.8200 23.7000 43.3400 12.6000 241.6000 0.15800 0.34970 44.7300 8,0000 42.1900 134.5000 20.2300 4.1700 147.6500 1.7905 15.3000 25.5200 41.2400 241.6000 136.0500 6.11000 2.93500 100.3400 18.4000 28.8000 23.9000 43.7200 12.6000 242.6000 0.15870 0.35010 44.6600 8.0000 42.3900 134.5000 20.3200 4.1600 148.6200 1.7900 15.3000 25.5200 41.5400 242.6000 FEB. 27 F E B . 28 136.4000 6.15000 2.94000 100.2100 18.6300 28.8000 24.0700 43.8800 12.6000 243.0500 0.15940 0.34980 44.7800 8.0000 42.6400 134.5500 20.4000 4.1900 148.6200 1.7970 15.3000 25.6100 41.7500 243.0500 136.4000 6.15000 2.94000 100.1800 18.4600 28.6500 23.9900 43.9100 12.9000 243.0000 0.15920 0.34910 44.8500 8 .0000 42.6900 134.8500 20.4000 4.1900 148.7000 1.7980 15.4000 25.6500 41.6100 243.0000