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V Selected Interest & Exchange Rates \AfeekIy Series of Charts MAY 12,1975 DIVISION OF INTERNATIONAL FINANCE Prepared by the FINANCIAL MARKETS SECTION 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 RATESH.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 8. INTEREST ARBITRAGE: 3-MONTH FUNDS 9. LONG-TERM GOVERNMENT BOND YIELDS 10. INDUSTRIAL STOCK INDEXES Chart 1 SPOT EXCHANGE RATES INDEXES OF DOLLAR PRICES OF FOREIGN CURRENCIES AVERAGES FOR WEEK ENDING WEDNESDAY 100 FOREIGN CURRENCY PRICE OF U.S. DOLLAR Weighted average — - CANADIAN DOLLAR 90 80 1 1 1 1 1 1 -N JAPANESE YEN 140 yu 100 I I ~~ 1 r ;—. \r^ l / X - A 120 FRENCH FRANC 1 I 1 1 1 1 1 HIHIMIN i.li.h.lii — 200 180 160 GERMAN MARK SWISS FRANC J - - 140 120 160 1 1 1 DUTCH GUILDER BELGIAN FRANC > - i 140 i i i I 1 Mil 100 i 120 M 100 1 1 120 1 1 j„ | | | „ MllllMlM ITALIAN LIRA U.K. POUND - 100 lllllllll 80 *73 1875 1 1 1 1 1 *73 1 iiliihilii Chart.2 3-MONTH FORWARD EXCHANGE RATES PREMIUM (+), OR DISCOUNT ( - ) AVERAGES FOR WEEK ENDING WEDNESDAY 6 CANADIAN DOLLAR 0 6 6 U.K. POUND SWISS FRANC GERMAN MARK DUTCH GUILDER 0 6 12 12 12 6 0 Illilllllll 6 6 JAPANESE YEN FRENCH FRANC 2 per cent o n scale equals 1 per cent o n all others 0 6 24 12 1973 1975 1973 1975 Chart 3 PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY UA DOUJUta PER FINE OUNCE 210 12.5 Kg BARS Afternoon fixing price 180 150 80 80 1873 1875 Chart 4 CALL MONEY RATES WEEKLY SERIES PER CENT PER ANNUM PER CENT PER ANNUM 15 OVERNIGHT EURO-DOLLARS JAPAN 10 - U.S. FEDERAL FUNDS I I I I I I lllllllllll lllllllllll 20 5 0 20 U.K. 2 - D A Y LOCAL AUTHORITY 15 fUr \ - AT 10 FRANCE 1 FA. I I I I I I fiiniiihi 11111111111 I I I 1 1 1 — 15 10 - - NETHERLANDS CANADA 5 - 0 - I I I I I I MIMIMIM EURO-SWISS FRANC GERMANY IP EURO-DM 15 10 - 5 0 - 5 0 1 Chart 5 3-MONTH INTEREST RATES WEEKLY SERIES 12 CANADIAN FINANCE CO. PAPER UNITED STATES CD's 8 4 16 U.K. INTERBANK STERLING GERMAN INTERBANK RATE 12 8 4 16 12 EURO-DOLLAR 12 SWISS DEPOSIT RATE „ 8 JAPAN Monthly 4 1873 1975 1973 1976 Chart 6 EURO-DOLLAR DEPOSIT RATES London AVERAGES FOR WEEK ENDING WEDNESDAY 16 OVERNIGHT 3-MONTH 12 8 4 7-DAY 6-MONTH 1 16 1-MONTH 1-YEAR 1973 1975 1973 1975 Chart 7 SELECTED EURO-DOLLAR AND U.S. MONEY MARKET RATES AVERAGES FOR WEEK ENDING WEDNESDAY PER PER CENT PER ANNUM 15 FEDERAL FUNDS 3-MONTH Euro-dollar deposits 10 OVERNIGHT Euro-dollar deposits 60-89 DAY CD'S 5 0 DIFFERENTIAL Adjusted for reserve requirements DIFFERENTIAL Adjusted for reserve requirements 1973 Borrowing in U.S. if Positive Digitized forFavors FRASER 1975 1973 1975 \o Chart 8 INTEREST ARBITRAGE: 3-MONTH FUNDS AVERAGES FOR WEEK ENDING WEDNESDAY DIFFERENTIAL: PLUS (+), INDICATES FAVOR DOLLAR ASSETS PER PER ANNUM PER CENT PER 20 20 15 INTERBANK DM, Covered Frankfurt EURO-DOLLAR DEPOSITS 15 INTERBANK STERLING Covered London ^ 10 10 0 5 EURO-DOLLAR DEPOSITS 5 | 0 4A DIFFERENTIAL /DIFFERENTIAL " I 5 5 10 10 1 EURO-DOLLAR DEPOSITS 15 - CANADIAN FINANCE CO. PAPER, COVERED 15 . 10 10 5 U.S. COMMERCIAL PAPER S SWISS DEPOSITS (SF) : COVERED 1 j I 0 l 0 I —L ^ «V DIFFERENTIAL DIFFERENTIAL Digitized5for FRASER I http://fraser.stlouisfed.org/ 1973 Federal Reserve Bank of St. Louis hA 5 1975 1973 1975 . \\ Chart 9 LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES PER ANNUM PER CENT PER 10 UNITED STATES CANADA 8 8 9 SWITZERLAND GERMANY 7 / JAPAN Industrial 8 5 6 3 14 18 UNITED KINGDOM 16 12 FRANCE 10 14 8 12 NETHERLANDS 6 10 4 12 8 U.S. CORPORATE Monthly 12 U.S. CORPORATE Monthly Euro-Dm bonds 10 10 Aaa bonds Euro-dollar bonds 8 8 6 1973 6 1975 1973 1975 Chart 10 INDUSTRIAL STOCK INDEXES WEEKLY SERIES 1869=100 180 UNITED STATES 100 60 320 140 UNITED KINGDOM JAPAN 240 100 160 60 80 180 — 180 CANADA SWITZERLAND 100 100 60 60 180 180 FRANCE General index GERMANY 100 100 60 60 http://fraser.stlouisfed.org/1973 Federal Reserve Bank of St. Louis 45 1975 1873 1876 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 I T A L I A N LIRA CHART 2 . 1 j 1 1 79.61 123.67 154.25 149.72 97.52 105.54 134.90 171.60 142.58 98.86 MAY MAY MAY MAY MAY MAY MAY MAY MAY MAY 3-MONTH FORWARD EXCHANGE RATES CANADIAN DOLLAR U . K . POUND GERMAN MARK FRENCH FRANC SWISS FRANC DUTCH GUILDER JAPANESE YEN MAY MAY MAY MAY MAY MAY MAY 7 7 7 7 7 7 7 -1.01 -6.24 2.20 -3.15 2.20 1.34 1.18 MAY 7 164.85 MAY 7 MAY 7 MAY 2 MAY 2 MAY 2 MAY 2 MAY 2 MAY 2 APRIL 25 MAY 2 5.42 5.22 8.94 7.15 5.40 5.50 11.50 8.00 0.75 2.25 MAY 7 MAY 7 F E B . 28 MAY 7 MAY 7 MAY 7 MAY 7 5.63 4.92 9.39 6.69 7.60 10.06 6.50 CHART 3 . GOLD PRICE I N LONDON U . S . DOLLAR PER FINE OUNCE CHART 4 . v" $ -V X # 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 . 3-MONTH INTEREST RATES U . S . CD'S ( 6 0 - 8 9 DAYS) GERMAN INTERBANK LOAN JAPANESE COMPOSITE LOAN EURO-DOLLAR DEPOSIT CANADIAN FINANCE COMPANY PAPER INTERBANK STERLING SWISS DEPOSIT y\ SERIES NAME CHART 6 . LAST VALUE PLOTTEC DATE VALUE EURO-DOLLAR DEPOSIT RATES: LONDON MAY MAY MAY MAY MAY MAY 7 7 7 7 7 7 5.22 5.36 5.74 6.69 7.79 8.30 MAY MAY MAY MAY MAY MAY 7 7 7 7 7 7 5.22 5.42 0.02 6.69 5.63 0.98 EURO-DOLLAR DEPOSIT INTERBANK STERLING (LONDON), COVERED DIFFERENTIAL MAY MAY MAY 7 7 7 6.69 3.82 2.86 U . S . COMMERCIAL PAPER CANADIAN FINANCE CO. PAPER, COVERED DIFFERENTIAL MAY MAY MAY 7 7 7 5.98 6.59 -0.61 EURO-DOLLAR DEPOSIT INTERBANK DM (FRANKFURT), COVERED DIFFERENTIAL MAY MAY MAY 7 7 7 6.69 7.12 -0.43 EURO-DOLLAR DEPOSIT SWISS DEPOSIT ( S F ) , COVERED DIFFERENTIAL MAY MAY MAY 7 7 7 6.69 8.70 -2.01 OVERNIGHT 7-DAY 1-MONTH 3-MONTH 6-MONTH 1-YEAR CHART 7 . 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 . C D ' S ( 6 0 - 8 9 DAYS) DIFFERENTIAL A D J . FOR RESERVE REQUIREMENTS CHART 8 . INTEREST ARBITRAGE, 3-MONTH FUNDS SERIES NAME CHART 9 . LONG TERM GOVERNMENT BOND YIELDS UNITED STATES GERMANY JAPAN (MONTHLY) SWITZERLAND CANADA FRANCE NETHERLANDS UNITED KINGDOM U.S. MAY APRIL MAR, APRIL MAY APRIL APRIL APRIL 2 25 28 18 2 18 25 25 8.28 8.43 9.94 6.87 9.04 10.16 7.93 14.77 MAR. 2 8 MAR. 28 MAR. 28 8.67 8.50 8.55 CORPORATE AAA BONDS EURO-DM BONDS EURO-DOLLAR BONDS CHART 1 0 . LAST VALUE PLOTTED DATE VALUE INDUSTRIAL STOCK INDEXES UNITED STATES JAPAN CANADA FRANCE UNITED KINGDOM SWITZERLAND GERMANY MAY APRIL APRIL APRIL APRIL MAY MAY 2 25 25 25 25 2 2 91.84 210.76 100.11 107.21 70.63 70.41 90.20 H.10 MAY 9, 1975 FOREIGN EXCHANGE RATES FOR THE WEEK ENDING MAY 9, 1975 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 PESETA RUPEE KRONA FRANC POUND MAY 5 134.0000 5.94000 2.85350 97.3200 18.1300 28.0200 24.2500 42.1700 12.5000 234.0500 0.15820 0.34430 44.0700 8.0000 41.3500 131.8500 19.9700 4.0500 146.7000 1.7750 15.4000 25.2400 39.2200 234.0500 MAY 6 IRATE U . S . CENTS) MAY 7 134.1500 5.96000 2.85400 97.4100 18.1600 28.0800 24.3100 42.1700 12.4500 233.8500 0.15840 0.34320 44.1700 8.0000 41.3800 132.1000 19.9900 4.0600 146.5000 1.7810 15.4000 25.2500 39.2800 233.8500 134.0500 5.96000 2.865C0 97.4700 18.1400 28.0700 24.5100 42.3500 12.4500 233.7900 0.15680 0.34340 44.1900 8.0000 41.5600 131.9500 19.9800 4.0700 146.5000 1.7810 15.4000 25.3100 39.5400 233.7900 MAY MAY 8 134.1500 6.00000 2.86850 97.4100 18.1700 28.1200 24.6800 42.5700 12.4500 234.0800 0.15930 0.34320 44.3300 8.0000 41.7200 132.0000 20.2800 4.0800 146.5000 1.7835 15.4000 25.5000 39.9200 234.0800 , 9 134.2500 5.99000 2.86050 97.2300 18 . 2 0 0 0 28.1800 24.4900 42.5100 12.4500 231.7000 0.15910 0.34310 44.3300 8.0000 41.6600 132.2000 20.2000 4.1000 146.5000 1 .7865 15.4000 25.4000 39.8500 231.7000
@FedFRASER