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'! Selected Interest & Exchange Rates Weekly Series of Charts MARCH 7, 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 SCALE MAY 1 9 7 0 PARITY=100 MAY RATIO SCALE 1 9 7 0 PARITY=100 120 CANADIAN DOLLAR 100 FOREIGN CURRENCY PRICE OF U.S. D O L L A R f 80 x v-V-^/-~XN 's 100 /v"~ I I I II I I II I I I FRENCH F R A N C JAPANESE Y E N SWISS F R A N C GERMAN M A R K DUTCH G U I L D E R BELGIAN FRANC U.K. POUND ITALIAN LIRA 4 60 3-MONTH FORWARD EXCHANGE RATES PREMIUM M , OR DISCOUNT ( - ) AVERAGES FOR WEEK ENDING WEDNESDAY PER ENT PER ANNUM 6 A A + CANADIAN DOLLAR 0 6 - I I I I I I PER CENT PER ANNUM + 0 DUTCH GUILDER U.K. POUND 6 12 18 II II II II 6 SWISS F R A N C — GERMAN MARK + 0 - 6 U I I I 6 6 12 JAPANESE YEN + 0 2 per cent on scale equals 1 per cent on all others FRENCH FRANC 6 12 I I I I ill I I I I 1975 1977 1975 1977 - 12 - 24 Chart 3 PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY U.S. D O L L A R S PER FINE OUNCE 200 12.5 Kg BARS Afternoon fixing price 180 160 140 120 100 80 1975 1977 CALL MONEY RATES WEEKLY SERIES PER CENT PER ANNUM PER CENT PER ANNUM 16 12 16 . JAPAN U.S. F E D E R A L FUNDS - - 12 8 - - OVERNIGHT EURO-DOLLARS -J I I I I I L II I I I M i l l I 16 U.K. 2 - D A Y L O C A L A U T H O R I T Y 12 FRANCE - I I I I III I I I I CANADA h. — - NETHERLANDS — I I I I I I GERMANY EURO-SWISS FRANC EURO- 1975 1977 1975 1977 8 Chart 5 3-MONTH INTEREST RATES WEEKLY SERIES PER CENT PER ANNUM PER CENT PER ANNUM r ~ i 1 - CANADIAN FINANCE CO. PAPER 4 - i n A i > i— I i | 1 f* "X I UNITED STATES CD's il - l l v A — I I I i i i i i i 14 — _ 10 - GERMAN INTERBANK RATE | l U.K. INTERBANK STERLING \ * - _ \ - 4 - - i i i 1 1 1 1 1 1 1 1 1 14 SWISS DEPOSIT RATE JAPAN 10 Monthly EURO-DOLLAR I I I I I 1975 I 1977 1975 1977 Chart 6 EURO-DOLLAR DEPOSIT RATES London AVERAGES FOR WEEK ENDING WEDNESDAY PER CENT PER ANNUM PER CENT PER ANNUM 3—MONTH OVERNIGHT - - _ i I I I I I Illllllllll Illllllllll Illllllllll 6-MONTH 7-DAY Illllllllll 1-YEAR 1-MONTH Illllllllll 1975 1977 1975 1977 # Chart 7 SELECTED EURO-DOLLAR AND U.S. MONEY MARKET RATES AVERAGES FOR WEEK ENDING WEDNESDAY PER CENT PER ANNUM PER CENT PEA ANNUM 12 OVERNIGHT Euro-dollar deposits 3-MONTH Euro-dollar deposits FEDERAL FUNDS 90-DAY CD's DIFFERENTIAL DIFFERENTIAL m ! \ , i. Adjusted for reserve requirements Adjusted for reserve requirements /,ll i | jl I I •'/ 1I 1 * — u ~ / »vvV — v \ f V \ j v ' V v/ V. A, T /X-/ ^ ~ ^ / A /' w A A - + 0 ( ' ' 111111111 1975 1977 1975 1977 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 EURO-DOLLAR DEPOSITS U INTERBANK DM Covered Frankfurt INTERBANK STERLING Covered London EURO-DOLLAR DEPOSITS DIFFERENTIAL CANADIAN FINANCE CO. PAPER, COVERED SWISS DEPOSITS (SF) COVERED EURO DOLLAR DEPOSITS U.S. COMMERCIAL PAPER DIFFERENTIAL DIFFERENTIAL LJ 1 1975 1 11111111111111111111 1977 iilnli'hi 1975 I !!!1 !1 ! 1977 Chart 9 LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES PER ENT PER PER CENT PER A ANNUM CANADA 9 10 UNITED STATES 7 8 5 6 12 9 JAPAN Industrial 10 SWITZERLAND 7 5 8 GERMANY 6 3 13 19 17 11 FRANCE UNITED KINGDOM 15 9 13 7 NETHERLANDS 11 5 12 — 12 U.S. CORPORATE Monthly U.S. CORPORATE Monthly 10 10 Euro-dollar bonds Aaa bonds ~ / - / ^ 8 8 Euro-Dm bonds I 6 1975 1977 I — 6 I 1975 1977 Chart 10 INDUSTRIAL STOCK INDEXES WEEKLY SERIES RATIO 1969= CALE )0 180 140 UNITED STATES 100 80 60 RATIO SCALE 1969=100 — I I I I I I 111111111II I UNITED KINGDOM 360 280 JAPAN 200 160 120 180 140 SWITZERLAND CANADA 100 80 60 180 — 140 140 — FRANCE General Index GERMANY 100 100 80 80 60 I I I I I I 1975 I I II I IIIIII 60 1977 1975 1977 S E R I E S NAME CHART 1 . SPOT EXCHANGE RATES U . S . D O L L A R , WEIGHTED AVERAGE JAPANESE YEN GERMAN MARK DUTCH G U I L D E R U . K . POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC B E L G I A N FRANC I T A L I A N LIRA CHART 2 . GOLD PRICE U.S. 4. DOLLAR IN 2 2 2 2 2 2 2 2 2 2 90.51 127.45 152.87 145.04 71.31 103.50 111.51 171.48 136.28 MARCH MARCH MARCH MARCH MARCH MARCH MARCH 2 2 2 2 2 2 2 —2 . 6 7 -7.78 0.57 —6 E 0 6 2.66 —0 • 4 4 —1 . 0 6 MARCH 2 142.07 MARCH MARCH FEB. FEB. FEB. FEB. FEB. FEB. FEB. FEB. 2 2 25 18 25 25 25 25 18 25 4.68 4.76 1 1 . bS 7.78 4.50 4.21 7.00 10.00 5.69 1.75 MARCH MARCH JAN. MARCH MARCH MARCH MARCH 2 2 70.66 LONDON PER F I N E OUNCE CALL MONEY RATES U . S . FEDERAL FUNDS OVERNIGHT EURO-DOLLAR DEPOSITS U . K . 2 - D A Y LOCAL AUTHORITY DEPOSITS CANADA GERMANY EURO-DM JAPAN FRANCE 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 G U I L D E R JAPANESE YEN 3. LAST VALUE P L Q U E l DATE VALUfc 3 - M O N T H 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 S T E R L I N G SWISS D E P O S I T 2 2 2 2 4.75 4 . T>8 8.17 5.15 7.60 1 1 . 14 3.75 LAST VALUE PLOTTED DATE VALU£ SERIES NAME CHART 6 . EURO-DOLLAR DEPOSIT R A T E S : LONDON OVERNIGHT 7-DAY 1-MONTH 3-MONTH 6-MONTH 1-YEAR CHART 7 . MARCH MARCH MARCH MARCH MARCH MARCH SELECTED EURO-DOLLAR AND U . S . 2 2 2 2 2 2 4.76 4.76 4.81 5.15 5.55 6.09 2 2 2 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-MUNTH 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 MARCH MARCH MARCH MARCH MARCH MARCH 2 2 4.76 4 . 08 0.28 5.15 4.75 0.31 EURO-DOLLAR DEPOSIT INTERBANK STERLING ( L O N D O N ) , COVERED DIFFERENTIAL MARCH MARCH MARCH 2 2 2 5.15 3.36 1.79 U . S . COMMERCIAL PAPER CANADIAN FINANCE CO. PAPER* DIFFERENTIAL MARCH MARCH MARCH 2 2 2 4.75 4.93 —0 . 1 8 EURO-DOLLAR DEPOSIT INTERBANK DM ( F R A N K F U R T ) , COVERED DIFFERENTIAL MARCH MARCH MARCH 2 L 2 5.15 5.^5 -0.10 EURO-DOLLAR DEPOSIT SWISS DEPOSIT | S F ) , COVERED DIFFERENTIAL MARCH MARCH MARCH 2 2 2 5.15 6. I3 -1.26 CHART 8 . £. INTEREST ARBITRAGE, 3-MONTH FUNDS COVERED LAST SERIES CHART 9 . NAME LONG TERM GOVERNMENT FEB. Feb. JAN. FEB. FEB. FEB. FEB. FEB. INDUSTRIAL U N I T t D STATES JAPAN CANADA FRANCE U N I T E D KINGDOM SWITZERLAND GERMANY # 25 25 18 18 11 18 25 7.47 7.04 8.58 3.94 8.57 10.51 7.66 12.95 CORPORATE STOCK 7.96 7.05 7.64 JAN. JAN. JAN. AAA BONDS EURO-DM BONDS EURO-DOLLAR BONDS 0. PLuTTiU VALUt BOND Y l b L U S U N I T E D STATES GERMANY JAPAN (MONTHLY) SWITZERLAND CANADA FRANCE NETHERLANDS U N I T E D KINGDOM i. VALUt UA T t INDEXES FEB. FEE. FEB. JAN. FEB. FEB. FEB. 25 18 16 28 16 25 25 1C2.70 250.57 94 . _>0 fl.57 93.c2 7 1 . 19 9 0 . 76 bLSftfc.-. FEDERAL RESERVE s t a t i s t i c a l r e l e a s e "988^ H . 10 MARCH FOREIGN EXCHANGE RATES MARCH FOR THE WEEK ENDING 4, 7, 1977 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 AFRICA SPAIN SRI LANKA SWEDEN SWITZERLAND UNITED KINGDOM MONETARY UNIT 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 ' FEB. 28 109.6000 5.87000 2.72900 95.5600 16.9900 26.2300 20.0700 41.8600 11.2600 171.3000 0.11310 0.35360 40.0800 4.4100 40.1100 95.5000 18.9900 NA 115.0000 1.4450 11.4500 23.7200 39.1400 171.3000 MAR. 1 (RATE U . S . MAR. 109.6000 5.88000 2.73000 95 . 4 1 0 0 17.0100 26.3100 20.1000 41.8000 11.2800 171.3200 0.11290 0.35400 40.0800 4.4000 40.1200 95.5000 19.0100 2.5800 115.0000 1.4486 11.4500 23.7200 39.1700 171.3200 CENTS) 2 109.7000 5.87000 2.72800 95.8700 16.9800 26.3100 20.1000 41.8100 11.2800 171.4400 0.11290 0.35520 40.0500 4.4200 40.1300 95.5000 19.0000 2.5700 115.0000 1.4484 11.4500 23.7100 39.1600 171.4400 MAR. 3 109.8500 5.88000 2.72950 95.8400 17.0300 26.3300 20.0800 41.8700 11.2800 171.3600 0.11300 0.35550 40.1300 4.4200 40.1400 95.5000 19.0200 2.5700 115.0000 1.4486 11.4500 23.7100 39.1800 171.3600 MAR. 4 109.7500 5.69000 2.72650 95.1900 17.0300 26.3400 20.0700 41.8600 11.3000 171.4500 0.11300 0.35450 40.1500 4.4000 40.1300 95.5500 19.0200 2.5800 115.0000 1.4500 11.4500 23.7300 39.2600 171.4500
@FedFRASER