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Selected Interest & Exchange Ratese A. Weekly Series of Chart§ May 15,1978 DIVISION OF INTERNATIOhlfttoRIKMFNCE Prepared by the FINANCIAL MARKETS SECTION BOARD OF GOVERNORS FEDERAL R636HW6FS8OTBWN0RS Washington, D&CEBifl^fiESERVE SYSTEM TERNATIONAL FINANCE ashington, D C. 20551 m t 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 o der of the Board of Governors of the Federal Reserve System in a form collectible at par in U.S. Curr. icy. 2. DAILY CERTIFIED SPOT EXCHANGE RATES-H.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 (THIN LINE) AVERAGES FOR WEEK ENDING WEDNESDAY RATIO S MAY 1970 PARITY'=100 DALE 0 PARITY=100 120 100 FOREIGN CURRENCY PRICE OF U.S. DOLLAR CANADIAN DOLLAR 80 140 FRENCH FRANC GERMAN MARK 120 100 240 200 SWISS FRANC 180 JAPANESE YEN 160 140 120 160 DUTCH GUILDER BELGIAN FRANC 140 120 100 110 — 90 U.K. POUND I A ITALIAN LIRA - 70 ! ^ — - I 1976 1978 I I 1 1 1976 - 1 50 1978 CHART 2 3-MONTH FORWARD EXCHANGE RATES PREMIUM (+) OR ( - ) AVERAGES FOR WEEK ENDING WEDNESDAY PER CENT PER ANNUM 6 CANADIAN DOLLAR I I " Illllllllll I PER CENT PER ANNUM - - DUTCH GUILDER - U. K. POUND Ayw k \ ( - 12 12 - — 18 /! 4C - GERMAN MARK t i i h i l n l i i ||||||||||| I I I I I - I iiliiliiln — W 1 AVA FRENCH FRANC * / - JAPANESE YEN J I 12 I I I i I 1976 I MIMIIIIII 1978 I I I I I 1976 I ~ I i !M IIIII! fIII!!I!III 1978 CHART 3 PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY U.S. DOLLARS PER FINE OUNCE U.S. DOLLARS PER FINE OUNCE 200 200 180 - 160 - - 180 160 12.5 Kg BARS AFTERNOON FIXING PRICE 140 120 - 100 I I I I I 1976 - 140 - 120 100 1978. CHART 4 CALL MONEY RATES WEEKLY SERIES PER C PER CENT PER ANh T PER ANNUM 12 U.S. FEDERAL FUNDS JAPAN 8 4 OVERNIGHT EURO-DOLLARS 0 16 FRANCE 12 8 U.K. 2-DAY LOCAL AUTHORITY 4 0 12 NETHERLANDS CANADA 8 4 0 12 8 EURO-SWISS FRANC GERMANY 4 + 0 EURO-DM 4 1976 1978 1976 1978 CHART 5 3-MONTH INTEREST RATES WEEKLY SERIES PER CENT PER ANNUM R CENT PER ANNUM 12 12 — — CANADIANI FINANCE CO. PAPER - l r i EURO-DOLLAR U.S. CD S — i i I i ! I ill n h i l i i JAPANESE BANK LOANS AND DISCOUNTS U.K. INTERBANK STERLING SWISS INTERBANK RATE GERMAN INTERBANK RATE I 1976 1978 I l I I 1976 l iiIiiIiiIiiIiiliiI 1978 CHART 6 EURO-DOLLAR DEPOSIT RATES LONDON AVERAGES FOR WEEK ENDING WEDNESDAY PER PER CENT PER Ah ENT PER ANNUM 10 3-MONTH OVERNIGHT — 6 - I I I I II I I I I I 2 I I I 111111111111 10 6-MONTH 7-DAY / - 6 i I IlllllI III 2 I I I 111111111111 I ! IIIIIII!i 1-YEAR 10 1-MONTH 6 2 1976 1978 1976 1978 CHART 7 SELECTED EURO-DOLLAR AND U. S. MONEY MARKET RATES AVERAGES FOR WEEK ENDING WEDNESDAY PER CENT PER ANNUM PER CENT PER ANNUM 10 3-MONTH FEDERAL FUNDS EURO-DOLLAR DASHED LINE DEPOSITS OVERNIGHT EURO-DOLLAR DEPOSITS 90-DAY CD'S DASHED LINE DIFFERENTIAL DIFFERENTIAL ADJUSTED FOR RESERVE ADJUSTED FOR REQUIREMENTS I I I I I I I i 111 i 1111 11 1976 FAVORS BORROWING IN U. S . IF POSITIVE RESERVE REQUIREMENTS 1978 1976 1978 CHART 8 INTEREST ARBITRAGE: 3-MONTH FUNDS DIFFERENTIAL: P L U S H , INDICATES FAVOR DOLLAR ASSETS AVERAGES FOR WEEK ENDING WEDNESDAY I Nl PER CENT PER ANI ENT PER ANNUM PER 10 10 I EURO-DOLLAR DEPOSITS 8 8 INTERBANK DM INTERBANK STERLING COVERED FRANKFURT COVERED LONDON 6 6 EURO-DOLLAR rEROSITS 4 4 DASHED LINE 2 2 DIFFERENTIAL + + 0 0 DIFFERENTIAL lllllllllli M I I II l l I l l l l 111111111 2 2 10 10 L EURO-DOLLAR DEPOSITS CANADIAN FINANCE CO. PAPER, COVERED 8 8 6 6 SWISS INTERBANK (SF) COVERED U.S. COMMERCIAL PAPER 4 4 DASHED LINE DASHED LINE 2 2 DIFFERENTIAL DIFFERENTIAL + + 0 0 fWf' Minimi ll 1111 i l l I I I l l l l l l l l l l i 2 1976 1978 1976 I iIiIIII 1978 CHART 9 LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES # PER CENT PER ANNUM R CENT PER ANNUM CANADA -/VV UNITED STATES VI I I I ! I I I l u l l ill I I \ 10 JAPAN INDUSTRIAL SWITZERLAND X W A Xs \ u j — \ * \ > V x GERMANY 4 I I I ^ ; 13 UNITED KINGDOM 16 - FRANCE 11 14 — 12 NETHERLANDS 10 - 11 U. S. CORPORATE i MONTHLY i U. S. \ _ z x EURO-DOLLAR i I I CORPORATE I MONTHLY BONDS - 9 - 7 Aaa BONDS E U R O - D M BONDS JLL 1976 1978 1976 1978 CHART 10 INDUSTRIAL STOCK INDEXES WEEKi. SERIES RATIO 2 RATIO ICALE 1969= DO 140 120 UNITED STATES 100 UNITED KINGDOM 80 111 I I I ! i 111 60 320 280 JAPAN 240 200 160 140 120 CANADA 100 SWITZERLAND AA 80 r V I I ill I III I I I 60 1 1 1 A k / ! I I i i ! 11' i i ! i i l i h i h i i i ! 140 120 FRANCE GENERAL INDEX GERMANY 100 80 60 1976 1978 1976 1978 LAST VALUE PLOTTED DATE VALUE SERIES NAME CHART 1 . SPOT EXCHANGE RATES WEEKLY AVERAGES, NOON BUYING RATES ( U . S . 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 CENTS) MAY MAY MAY MAY MAY MAY MAY MAY MAY 10 10 10 10 10 10 10 10 10 47.98 0.44453 44.68 162.17 88.93 21.64 50.96 3.08190 0.11510 MAY MAY MAY MAY MAY MAY MAY MAY MAY 10 10 10 10 10 10 10 10 10 1 7 5 ,, 6 1 1 6 0 ., 0 3 1 6 2 ., 4 6 7 5 .. 9 0 96.14 120,. 2 1 2 2 2 ,. 8 6 154.09 71.94 10 10 10 10 10 10 10 10 10 10 84.01 163.83 144.07 144.73 62.52 82.56 105.50 197.49 136.77 59.92 10 10 10 10 10 10 10 -0.29 -3.02 4.55 -2.02 6.78 3.35 5.67 I N D I C E S , MAY 1 9 7 0 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 . MAY MAY MAY MAY MAY MAY MAY MAY MAY MAY 3-MONTH FORWARD EXCHANGE RATES, PREMIUM OR DISCOUNT CANADIAN DOLLAR U . K . POUND GERMAN MARK FRENCH FRANC SWISS FRANC DUTCH GUILDER JAPANESE YEN MAY MAY MAY MAY MAY MAY MAY LAST VALUE PLOTTED VALUE DATE SERIES NAME CHART 3 . GOLD PRICE U.S. 4. I N LONDON DOLLARS PER FINE OUNCE EURO-DM JAPAN FRANCE NETHERLANDS EURO-SWISS FRANC 7.32 7.17 7.13 7.00 3.50 3.39 4.13 e.bo 4.69 0.49 MAY 5 3-MONTH INTEREST RATES CANADIAN FINANCE PAPER EURO-DOLLAR DEPOSIT RATES: EURO-DOLLAR AND U.S. MONEY MARKET 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 . 90-DAY CD'S D I F F E R E N T I A L A D J . FOR RESERVE REQUIREMENTS 7.14 3.56 4.50 7.73 MAY 1 0 MAY 10 MAY 10 MAY 10 MAY 10 MAY 1 0 7.17 7.40 7.46 7.73 8.01 8.16 7.96 6.95 1.00 LONDON OVERNIGHT 7-DAY 1-MONTH 3-MONTH 6—MONTH 1-YEAR SELECTED 10 10 10 10 10 MAY 1 0 MAY 10 MAY MAY MAY MAY MAY INTERBANK STERLING SWISS INTERBANK LOAN 7. MAY 10 MAY 1 0 5 MAY 5 MAY 5 MAY MAY 5 5 MAY A P R I L 14 5 MAY U . S . 90-DAY CD'S GERMAN INTERBANK LOAN JAPANESE BANK LOANS & DISCOUNTS EURO-DOLLAR DEPOSIT 6. 172.99 CALL MONEY RATES U . S . FEDERAL FUNDS OVERNIGHT EURO-DOLLAR DEPOSITS U . K . 2 - D A Y LOCAL AUTHORITY DEPOSITS CANADA GERMANY 5. MAY 10 RATES MAY 10 MAY 1 0 M A Y 10 MAY 10 MAY 10 M A Y 10 7.17 7.32 0.15 7.73 7.14 0.45 •• SERIES NAME CHART 6 . LAST VALUE PLOTTED DATE VALUE INTEREST ARBITRAGE, 3-MONTH FUNDS EURO-DOLLAR DEPOSIT INTERBANK STERLING (LONDON), COVERED DIFFERENTIAL MAY 10 MAY 10 MAY 10 7 .. 7 3 5,. 9 3 1. . 8 0 U . S . COMMERCIAL PAPER CANADIAN FINANCE PAPER, COVERED DIFFERENTIAL MAY 10 MAY 1 0 MAY 10 6 .. 9 6 7 .. 6 9 —0<. 7 3 EURO-DOLLAR DEPOSIT INTERBANK DM (FRANKFURT), COVERED DIFFERENTIAL MAY 10 MAY 10 MAY 10 1., 7 3 8 .. 1 1 - 0 ..39 EURO-DOLLAR DEPOSIT SWISS INTERBANK, COVERED DIFFERENTIAL MAY 10 MAY 10 MAY 1 0 7 .. 7 3 7 , .78 - 0 . .05 CHART 9 . LONG TERM GGVERMENT BOND YIELDS UNITED STATES GERMANY JAPAN (MONTHLY) SWITZERLAND CANADA FRANCE NETHERLANDS UNITED KINGDOM U.S. 5 28 28 5 14 14 5 8 ..28 5 ,. 3 0 5 . .98 3 .. 4 0 9 .. 1 6 10.. 6 7 6 .. 6 0 10.. 5 7 A P R I L tt.56 MARCH MARCH 6.36 7.86 CORPORATE AAA BONDS EURO-DM BONDS EURO-DOLLAR BONDS CHART 1 0 . MAY APRIL APRIL APRIL MAY APRIL APRIL MAY INDUSTRIAL STOCK INDICES UNITED STATES JAPAN CANADA FRANCE UNITED KINGDOM SWITZERLAND GERMANY MAY APRIL APRIL APRIL MAY MAY APRIL 5 14 14 21 5 5 28 9 9 . .73 2 7 0 .. 7 4 9 1 .. 7 8 104, . 5 0 114.. 7 0 7 0 .. 4 6 9 7 .. 3 8 # F « E D E R e A L R e E S E R # V E + s t a t i s t i c a l « r e l e a s e FOREIGN EXCHANGE RATES MAY 1 2 , FOR THE WEEK ENDING 1976 The Boa. d of Governors of the Federal Reserve System is advised that the Federal Reserve Bank of New York has certified for customs purposes the f o l l o w i n g noon buying rate in New York City for cable transfers payable in foreign currencies: COUNTRY MONETARY UNIT 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 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 8 113.0500 6 • 6 6 7 50 3.07750 86.6900 17.6100 23.6300 21.6050 47.8400 11.7000 181.8000 0.11500 0.44420 41.7700 4.3950 44.7500 100.9000 16.4100 2.2100 115.0500 1.2338 6.2500 21.5600 50.6200 181.8000 MAY 9 (RATE U . S . CENTS) MAY 10 112.7500 6.63000 3.06900 86.9800 17.5600 23.5500 21.5500 47.7000 11.7000 181.1000 0.11467 0.44370 41.6100 4.3950 44.5300 100.7500 18.3500 2.2000 115.0500 1.2315 6.2500 21.5100 50.6300 161.1000 112.9000 6.64000 3.07100 69.3100 17.6000 23.5700 21.5750 47.8700 11.7000 182.4200 0.11500 0.44460 41.6500 4.3950 44.7550 100.7000 18.4300 2.2100 115.0500 1.2335 6.2500 21.5800 50.9000 162.4200 MAY 11 113.0000 b .64500 3.05000 69.5000 17.5600 23.5700 2 1 . 5 2 00 47.6200 11.5000 181.8000 0.11490 0.44400 41.6700 4.3950 44.5600 100.1500 16.4000 2.2100 115.0500 1.2325 6.2500 21.5500 50.6450 181.6000 MAY 12 112.7500 6.56750 3.03400 69.6500 17.4900 23.4900 21.4400 47.3500 11.7000 181.9000 0.11470 0.44320 41.6250 4.3950 44.2800 100.7500 16.3500 2.2000 115.0500 1.2280 6.2500 21.4950 50.2200 161.9000 •
@FedFRASER