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w 4 „ i» Vf* **' S e l e c t e d Interest & Exchange Rates \Afeekly Series of Charts March 6,1978 DIVISION OF INTERNATIONAL FINANCE Prepared by the FINANCIAL MARKETS SECTION BOARD OF GOVERNORS FEDERAL RESERVE SYSTEM Washington, D C. 20551 o 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-MOTMTH 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 (THIN LINE) AVERAGES FOR WEEK ENDING WEDNESDAY RATIO SCALE MAY 1970 PARITY=100 FCTIO SCALE *MAY 1970 PARITY= 100 FOREIGN CURRENCY PRICE OF U.S. DOLLAR CANADIAN DOLLAR 1_L / __ GERMAN MARK I I a / V — FRENCH FRANC z u l i H i l l ii 180 160 - - SWISS FRANC 140 JAPANESE YEN - yx_//X 120 — 100 i l l i l l DUTCH GUILDER BELGIAN FRANC I III — U.K. POUND It\ \ ITALIAN LIRA — — I 1976 1978 I I 1976 1978 100 CHART 2 3-MONTH FORWARD EXCHANGE RATES PREMIUM (+) OR ( - ) AVERAGES FOR WEEK ENDING WEDNESDAY PER CENT PER ANNUM 6 CANADIAN DOLLAR - I I I I I I PER CENT PER ANNUM - — — 6 DUTCH GUILDER — U. K. POUND A/A k f - — 12 I I I — SWISS FRANC r — GERMAN MARK rvA — / - i i i p 1 1 1 I — I I 1 1 1 ..I. M h i l n l n — /Vx^> l/ k / A % : FRENCH FRANC ^ - JAPANESE YEN - j + 0 V - 1 1 1 1 1 1976 I 1 1978 I I 1 1 1976 1 1978 CHART 3 PRICE OF GOLD IN LONDON A V E R A G E S FOR WEEK ENDING W E D N E S D A Y U.S. DOLLARS PER FINE OUNCE U.S. DOLLARS PER FINE OUNCE 190 190 1 2 . 5 K g BARS AFTERNOON FIXING PRICE 1976 1978 CHART 4 CALL MONEY RATES WEEKLY SERIES PER CENT PER PER CENT PER ANNUM U.S. FEDERAL FUNDS OVERNIGHT EURO-DOLLARS FRANCE U.K. 2-DAY LOCAL AUTHORITY — NETHERLANDS CANADA - 1 1 - 4 - 4 1 EURO-SWISS FRANC GERMANY 0 EURO-DM 1976 1978 1976 1978 CHART 5 3-MONTH INTEREST RATES WEEKLY SERIES PER CENT PER AN IUM ENT PER ANNUM 12 CANADIAN FINANCE CO. PAPER EURO-DOLLAR U.S. 8 CD'S 4 16 12 JAPANESE BANK LOANS AND DISCOUNTS 8 U.K. INTERBANK STERLING 4 SWISS INTERBANK RATE 4 GERMAN INTERBANK RATE •K 0 1976 1978 1976 1978 CHART 6 EURODOLLAR DEPOSIT RATES LOHDON AVERAGES FOR WEEK ENDING WEDNESDAY PER CENT PER ANNUM! PER CENT PER ANNUM 10 10 - 3-MONTH OVERNIGHT - - I 10 I I I I I - 6-MONTH 7-DAY 10 1-YEAR - 1-MONTH L — - 4 1 VI - 1.1 1 f t I 1976 UIHIHIII I 1978 I I I I 1976 I 1978 10 CHART 7 SELECTED EURO-DOLLAR AND U. S. MONEY MARKET RATES AVERAGES FOR WEEK ENDftiG WEDNESDAY PER CENT PER ANNUM PER CENT PER ANNUM 10 FEDERAL FUNDS 3-MONTH DASHED LINE EURO-DOLLAR DEPOSITS # / X . OVERNIGHT EURO-DOLLAR DEPOSITS 90-DAY CD*S DASHED LINE DIFFERENTIAL DIFFERENTIAL ADJUSTED FOR RESERVE REQUIREMENTS ADJUSTED FOR RESERVE REQUIREMENTS iVvW I I 1976 FAVORS BORROWING IN U. S. IF POSITIVE I I I L I I I I I I I I i I I i I I 1978 i I I I I I I I I I I I I I 1976 i I i < l i i I ' I 1978 CHAR! 8 INTEREST ARBITRAGE: 3-MONTH FUNDS DIFFERENTIAL: PLUS(>), INDICATES FAVOR DOLLAR ASSETS AVERAGES FOR WEEK ENDING WEDNESDAY ENT PER ANNUM PC* CENT PEN At - L EURO-DOLLAR DEPOSITS vA INTERBANK STERLING COVERED LONDON INTERBANK DM COVERED FRANKFURT 1 f Z V A / / \ / \ A ^ 7 4 * X A i /YEW EURC>-DOLLAR DEPOSITS DASHED LINE - - 2 DIFFERENTIAL + 0 DIFFERENTIAL 2 I I I I 1 1 llllllllllll Illllllllll 10 CANADIAN FINANCE CO. PAPER, COVERED - EURO-DOLLAR DEPOSITS 8 6 4 U.S. COMMERCIAL PAPER SWISS INTERBANK (SF) COVERED DASHED LINE DASHED IINE 2 DIFFERENTIAL DIFFERENTIAL + 0 2 iiIiiliiI 1976 1978 J—I—I——I—I—I 1976 n 11111 u [ 11 II111111111 1978 CHART 9 LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES PER CENT PER AM :NT PER ANNUM 10 CANADA UNITED STATES - f A / - 8 1_L I I I I I I 6 8 JAPAN INDUSTRIAL 6 SWITZERLAND 4 2 18 — 16 UNITED IKINGDOM yvn FRANCE - 14 12 NETHERLANDS - p U. S. CORPORATE I MONTHLY I U. S. I I I CORPORATE I 10 8 MONTHLY 9 EURO-DOLLAR BONDS Am# BONDS 7 EURO-DM BONDS I 1976 1978 I 1976 I 5 1978 CHART 10 INDUSTRIAL STOCK INDEXES WEEKLY SERIES SCALE RATIO 3 1969: 1961 140 120 - - UNITED STATES 100 UNITED KINGDOM M I 80 - 60 320 280 JAPAN 4 240 200 - 160 L I I I I I I 140 120 CANADA 100 SWITZERLAND - A - 80 - 60 JJJ I i i i I I I 140 120 FRANCE GENERAL INDEX GERMANY 100 80 60 I I I IIII I I I I 1976 1978 1976 1978 SERIES NAME * HART 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 1 1 1 1 1 1 1 1 1 49.19 0.41676 45.90 193.80 69.61 20.69 54.41 3.15540 0.11702 MARCH MARCH MARCH MARCH MARCH MARCH MARCH MARCH MARCH 1 1 1 1 1 1 1 1 1 150.76 160.04 166.15 80.75 96.88 116.03 237.94 157.77 73.14 1 1 1 1 1 82.99 166.72 133.73 146.74 66.50 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 = 100 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 I I 82.10 1 1 1 100.40 209.07 136.62 60.42 1 1 1 1 1 1 1 -0.07 -0.26 4.32 -5.98 7.27 1.93 4.72 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 SERIES NAME LAST VALUE PLOTTED DATE VALUE 1 CHART 3 . GOLD PRICE I N LONDON U . S . DOLLARS PER FINE OUNCE CHART 4 . MARCH MARCH FEB. FEB. FEB. FEB. FEB. FEB. FEB. FEB. 1 1 24 17 24 24 24 24 3 24 6.60 6 ,. 9 1 5 .,7b 7 . ,20 3 . .55 3 . .13 4 . .88 10.50 4 . .69 0 . .15 MARCH MARCH MARCH MARCH MARCH MARCH MARCH 1 1 1 1 1 1 1 6.75 3.65 5.<5 7.24 7. lo MARCH MARCH MARCH MARCH MARCH MARCH 1 1 1 1 1 1 6.91 6.90 6.98 7.34 7.71 8.00 1 1 o.91 6.80 0.40 7.34 6.75 0.47 6.99 0.20 EURO-DOLLAR DEPOSIT RATES: LONDON OVERNIGHT 7-DAY 1-MONTH 3-MONTH 6—MONTH 1-YEAR CHART 7 . 181.90 3-MONTH INTEREST RATES U . S . 90-DAY C D ' S GERMAN INTERBANK LOAN JAPANESE BANK LOANS & DISCOUNTa EURO-DOLLAR DEPOSIT CANADIAN FINANCE PAPER INTERBANK STERLING SWISS INTERBANK LOAN CHART 6 . 1 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 . MARCH 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 MARCH MARCH MARCH MARCH MARCH MARCH 1 1 1 1 SERIES NAME ) CHART 8 . LAST VALUE PLOTTED DATE VALUE INTEREST ARBITRAGE, 3-MONTH FUNDS EURO-DOLLAR DEPOSIT INTERBANK STERLING (LONDON), COVERED DIFFERENTIAL MARCH MARCH MARCH 1 1 1 7.34 6.73 0.61 U . S . COMMERCIAL PAPER CANADIAN FINANCE PAPER, COVERED DIFFERENTIAL MARCH MARCH MARCH 1 1 1 6.75 7.11 -0.58 EURO-DOLLAR DEPOSIT INTERBANK DM (FRANKFURT), COVERED DIFFERENTIAL MARCH MARCH MARCH 1 1 1 7.34 7.77 -0.43 EURO-DOLLAR DEPOSIT SWISS INTERBANK, COVERED DIFFERENTIAL MARCH MARCH MARCH 1 1 1 7.34 7.47 -0.13 FEB. FEB. JAN. FEB. FEB. FEB. FEB. FEB. 24 24 8.08 5.31 6 . 14 3.45 9.14 11.03 7.05 9.90 9. LONG TERM GOVERMENT BOND YIELDS UNITED STATES GERMANY JAPAN (MONTHLY) SWITZERLAND CANADA FRANCE NETHERLANDS UNITED KINGDOM .S. CORPORATE AAA BONDS EURO-DM BONDS EURO-DOLLAR BONDS CHART 1 0 . 24 17 10 3 17 8.41 6.40 7.95 JAN. DEC. DEC. INDUSTRIAL STOCK INDICES UNITED STATES JAPAN CANADA FRANCE UNITED KINGDOM SWITZERLAND GERMANY FEB. FEB. FEB. FEB. FEB. FEB. FEB. 24 17 3 3 17 17 17 90.24 254.14 84.56 76.23 109.41 78.70 101.21 m m , F E D E R H . 10 A R I E S E R V E s t a t i s t i c a l r MARCH 3, l e a MARCH FOREIGN EXCHANGE RATES FOR THE WEEK ENDING e s e 6, 1978 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: 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 MONETARY UNIT FEB. 27 CRATE U . S . CENTS) MAR. 1 FEB. 28 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 113.5500 6.77500 3.12300 89.6100 17.8500 24.0025 20.8800 48.7550 12.3000 193.2000 0.11700 0.41800 42.4200 4.4000 45.5800 102.2000 18.7000 2.4725 115.0500 1.2419 6.5000 21.6400 53.0000 193.2000 113.6500 6.82000 3.17000 89.6900 17.9500 23.9700 21.0100 49.6000 12.3000 194.1000 0.11720 0.42000 42.4100 4.3950 46.1500 102.2000 18.9600 2.4800 115.0500 1.2452 6.5000 21.8000 54.9300 194.1000 113.8300 6.93250 3.19000 89.5200 17.9400 24.2600 i i l . 1300 49.5000 12.3000 193.9000 0.11760 0.41970 42.5500 4.3925 46.2800 102.5500 A8.9400 2.4950 115.0500 1.2530 6.5000 21.7700 54.4500 193.9000 MAR. 2 113.7200 6.90750 3.18400 89.3850 17.9500 24.2200 21.1200 49.7600 12.3000 194.1000 0.11740 0.41945 42.5100 4.3950 46.4800 102.5000 18.9100 2.4750 115.0500 1.2483 6.5000 21.7900 54.4500 194.1000 MAR. 113.7500 6.88750 3.17250 89.2150 17.8700 24.2600 21.0300 49.3800 12.3000 193.9000 0.11740 0.42190 42.5000 4.3950 46.1000 102.4700 18.8000 2.4600 115.0500 1.2480 6.5000 21.6700 53.8000 193.9000
@FedFRASER