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Selected Interest &
Exchange Rates
XAfeekly Series of Charts
MAY 17,1976
DIVISION OF
INTERNATIONAL FINANCE
Prepared by the
FINANCIAL MARKETS
SECTION
BOARD OF GOVERNORS
FEDERAL RESERVE SYSTEM
Washington, D.C. 20551
kz
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, Divi
sion 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 m U.S. Currency.
2. D A I L Y CERTIFIED SPOT
EXCHANGE RATES
H.10 RELEASE
CHARTS
1. SPOT EXCHANGE RATE INDEXES
2. 3-MONTH FORWARD EXCHANGE RATES
3. GOLD PRICE-LONDON
4. C A L L MONEY RATES
5. 3-MONTH INTEREST RATES,
6. EURO DOLLAR DEPOSIT RATES
7. SELECTED EURO-DOLLAR A N D
U.S. MONEY M A R K E T RATES
8. INTEREST ARBITRAGE: 3-MONTH FUNDS
9. LONG-TERM GOVERNMENT BOND YIELDS
10 INDUSTRIAL
STOCK INDEXES
Chart 1
SPOT EXCHANGE RATES
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 N D W E I G H T E D A V E R A G E V A L U E S ( D A S H E D L I N E )
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
CANADIAN DOLLAR
100
FOREIGN CURRENCY
PRICE OF U.S. DOLLAR
90
,vv—
-
JAPANESE YEN
N
FRENCH FRANC
I
!
-
!
v
•>-'
I
I
/"\
I
I
I
lllllllllll
l i h l l l l i l l
200
-
180
160
-
.
GERMAN MARK
-
^
140
100
"
I
I
1
V-x
I
I I
1
160
^
y V v /
\ [
140
r
7
/
I
I
„
SWISS FRANC J
~U
I
-J
160
:
_
-
120
M i i i i n i i i
100
|
iiiiiiiihi
1
1
1
1
1
I I
lllllllllll
r -
DUTCH GUILDER
160
~~
BELGIAN FRANC
~
-
/
\
A
~/\y
100
-
I
/
'
V
/V/
v-\^—
l
I
I
l
I
iiiniiiiii
/
^
1
w
120
J
|
l
V
I
v
1
1
\/~
1 I
1
I I
1
100
120
ITALIAN LIRA
-
I _
V
ll
I
\
V
\ W
\
J_L
140
I
I
I
I
I
I
—
Chart 2
3-MONTH FORWARD EXCHANGE RATES
PREMIUMS (+), OR DISCOUNT ( - )
AVERAGES FOR WEEK ENDING WEDNESDAY
G
CANADIAN DOLLAR
0
6
6
SWISS FRANC
U.K. POUND
0
6
12
12
12
GERMAN MARK
DUTCH GUILDER
6
0
6
6
JAPANESE YEN
2 per cent on scale equals
1 per cent on all others
FRENCH FRANC
0
s
24
12
1974
1
1976
1974
1976
/
Chart 3
PRICE OF GOLD IN LONDON
AVERAGES FOR WEEK ENDING WEDNESDAY
•J.S DOLLARS PER FINE OUNCE
210
12.5 Kg BARS
— Afternoon fixing price
180
150
120
90
1974
1976
Chart 4
CALL MONEY RATES
WEEKLY SERIES
NT PER ANNUM
PER CENT PER ANNUM
I OVERNIGHT
15
EURO-DOLLARS
J
JAPAN
-
U. S. FEDERAL FUNDS
i
i i I i i i
I
I
I
U.K. 2 - D A Y LOCAL AUTHORITY
I
I
I
FRANCE
15
10
i *
"
V
5
I
0
I
I
I
I
^
I
15
NETHERLANDS
10
CANADA
/Vam
y-
-
5
0
I
i
I
I
I
I
20
EURO-SWISS FRANC
15
GERMAN")
10 .
5
0
EURO-DM
I
5
;
Chart 5
3-MONTH INTEREST RATES
WEEKLY SERIES
12
UNITED STATES CD's
C A N A D I A N FINANCE CO. PAPER
4
11
16
U.K. INTERBANK
STERLING
G E R M A N INTERBANK RATE
12
8
4
EURO-DOLLAR
SWISS DEPOSIT RATE
10
6
JAPAN
Monthly
1974
1976
1974
1976
Chart 6
EURO-DOLLAR DEPOSIT RATES London
AVERAGES FOR WEEK ENDING WEDNESDAY
PER
16
3-MONTH
OVERNIGHT
12
8
16
16
6-MONTH
7-DAY
12
8
16
16
1-YEAR
1-MONTH
12
8
I
127E
Chart 7
SELECTED EURO-DOLLAR AND U.S. MONEY MARKET RATES
AVERAGES FOR WEEK ENDING WEDNESDAY
3-MONTH
Euro dollar deposits
FEDERAL FUNDS
10
OVERNIGHT
Euro-dollar deposits
90 DAY CD's
- ! i'I
DIFFERENTIAL
Adjusted for reserve requirements
DIFFERENTIAL
Adjusted for reserve requirements
1
1974
Favors Borrowing in U.S. if Positive
1976
1974
1976
Chart 8
INTEREST ARBITRAGE: 3-MONTH FUNDS
AVERAGES FOR WEEK ENDING WEDNESDAY
,
DIFFERENTIAL: PLUS{+), INDICATES FAVOR DOLLAR ASSETS
PEP
' PER ANNUM
PER CENT PER ANNUM
20
20
15
INTERBANK DM
Covered Frankfurt
INTERBANK STERLING
Covered London
EURO-DOLLAR
DEPOSITS
10
EURO-DOLLAR
DEPOSITS
5
0
DIFFERENTIAL
DIFFERENTIAL
5
10
15
EURO-DOLLAR DEPOSITS
CANADIAN FINANCE CO. PAPER, COVERED
SWISS DEPOSITS (SF)
COVERED
10
5
U.S. COMMERCIAL PAPER
0
DIFFERENTIAL
i
DIFFERENTIAL
V ' v
11
5
1974
1975
1974
|
T
1976
^
Chart 9
LONG-TERM GOVERNMENT BOND YIELDS
WEEKLY SERIES
CANADA
9
U N I T E D STATES
7
5
12
JAPAN
\ Industrial
SWITZERLAND
.10
8
GERMANY
6
14
18
U N I T E D KINGDOM
12
FRANCE
10
8
NETHERLANDS
6
4
12
12
.
10
U.S. CORPORATE
Monthly
-
U S. CORPORATE
Monthly
Euro-dollar bonds
Aaa bonds
8
Euro-Dm bonds
6
1974
1976
1974
1976
k
Chart 10
INDUSTRIAL STOCK INDEXES
WEEKLY SERIES
RATIO SCALE
1969=100
180
UNITED STATES
100
60
45
140 |
300
ioo|
UNITED KINGDOM
JAPAN
200
60 f.
100
240
140
180
100
SWITZERLAND
CANADA
60
100
60
35
180
180
FRANCE
General Index
100
1974
100
GERMANY
1976
1974
1976
SERIES NAME
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
CHART 2 .
GOLD PRICE
U.S.
CHART 4 .
12
12
12
12
12
12
12
12
12
12
89 . 8 8
120 . 6 2
144 . 0 2
134 .35
7 6 ,. 2 3
110.32
116 . 7 3
1 7 6 .. 2 5
1281. 5 1
7 3 .• 2 7
MAY
MAY
MAY
MAY
MAY
MAY
MAY
12
12
12
12
12
12
12
-3.87
-5.58
2.24
-4.60
4.38
2.CO
MAY 12
127.87
0.02
I N LONDON
DOLLAR 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 .
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
CHART 3 .
LAST VALUE PLOTTED
DATE
VALUE
MAY
MAY
APRIL
APRIL
APRIL
APRIL
APRIL
APRIL
APRIL
APRIL
12
12
30
23
30
30
30
30
23
30
MAY
MAY
MARCH
MAY
MAY
MAY
MAY
12
12
5.02
5.06
9.75
8.63
3.50
3.13
6.75
7.63
0.78
C.88
3-MONTH 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 STERLING
SWISS DEPOSIT
12
12
12
12
5.25
3.64
8.30
5.63
9.70
9.91
4.50
LAST VALUE PLOTTED
DATE
VALUE
SERIES NAME
CHART 6 .
EURO-DOLLAR DEPOSIT RATES:
LONDON
OVERNIGHT
7-DAY
1-MONTH
3-MONTH
6-MONTH
1-YEAR
MAY
MAY
MAY
MAY
MAY
MAY
12
12
12
12
12
12
5.06
5.11
5.31
5.63
6.28
6.89
MAY
MAY
MAY
MAY
MAY
MAY
12
12
12
12
12
12
5.06
5.02
0.25
5.63
5.25
0.27
MAY 12
MAY 12
MAY 12
5.63
4.34
1.29
U . S . COMMERCIAL PAPER
CANADIAN FINANCE CO. PAPER, COVERED
DIFFERENTIAL
MAY 12
MAY 12
MAY 12
5.25
5.83
-0.58
EURO-DOLLAR DEPOSIT
INTERBANK DM ( F R A N K F U R T ) ,
DIFFERENTIAL
MAY 12
MAY 12
MAY 12
5.63
5.88
-0.25
MAY 12
MAY 12
MAY 12
-3.26
CHART 7 .
SELECTED EURO-DOLLAR AND U . S .
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-MONTH 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
CHART 8 .
INTEREST ARBITRAGE,
3-MONTH FUNDS
EURO-DOLLAR DEPOSIT
INTERBANK STERLING ( L O N D O N ) ,
DIFFERENTIAL
COVERED
EURO-DOLLAR DEPOSIT
SWISS DEPOSIT ( S F ) , COVERED
DIFFERENTIAL
COVERED
5.63
8 .88
S E R I E S NAME
CHART <).
LONG TERM GOVERNMENT BOND Y I E L D S
U N I T E D STATES
GERMANY
JAPAN (MONTHLY)
SWITZERLAND
CANADA
FRANCE
NETHERLANDS
U N I T E D KINGDOM
U.S.
10.
MAY
APRIL
FEB.
APRIL
APRIL
APRIL
APRIL
APRIL
7
30
?3
23
30
23
?0
7.74
7.66
6.61
5.39
9.32
10.03
7.21
13.52
CORPORATE
AAA BONDS
EURO-DM BONDS
EURO-DOLLAR BONDS
CHART
LAST VAL UE PLOTTED
DATE
VALUE
INDUSTRIAL
U N I T E D STATES
JAPAN
CANADA
FRANCE
U N I T E D KINGDOM
SWITZERLAND
GERMANY
APRIL"
MARCH
MARCH
8.40
7.40
8.14
STOCK I N D E X E S
MAY
APRIL
APRIL
MARCH
APRIL
APRIL
APRIL
7
30
30
12
30
30
30
106 . 2 7
2 2 4 ,. 0 8
107 .93
114.51
9 9 ,. 6 0
71.21
9 7 ,. 4 8
,#&,
FEDERAL
H.10
RESERVE
statistical
release
MAY
FOREIGN EXCHANGE RATES
FOR THE WEEK ENDING
MAY 1 4 ,
14,
1976
1976
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 A F R I C A
SPAIN
S R I LANKA
SWEDEN
SWITZERLAND
U N I T E D 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
MAY 10
123.7500
5.49000
2.57300
102.1400
16.5700
25.9900
21.3900
39.3200
11.1000
183.1000
0.11990
0.33510
39.1700
8.0000
37.1500
99.5500
18.2900
3.3500
114.8500
1.4820
11.9000
22.8200
40.2700
183.1000
MAY 1 1
CRATE U . S . CENTS)
MAY 12
123.9200
5.48000
2.56600
102.1700
16.5700
2 5.9700
21.3600
39.2900
11.1000
183.3500
0.11860
0.33510
39.1700
8.0000
37.0600
99.8300
18.2800
3.3500
114.8500
1.4815
11.9000
22.8000
40.3100
183.3500
123.9200
5.46000
2 . 5 5 9 50
102.0800
16.5400
25.9300
21.3200
39.1900
11.1000
183.8500
0.11740
0.33480
39.1600
8.0000
36.9500
99.8800
18.2900
3.3500
1 1 4 . 8 500
1.4810
11.9000
22.7000
40.0600
183.8500
MAY 1 3
123.7900
5.48000
2.56000
102.1200
16.5400
25.9100
21.3300
39.1800
11.1000
182.7500
0.11760
0.33450
39.1600
8.0000
36.9500
99.9800
18.2900
3.3400
114.8500
1.4800
11.9000
22.7000
40.1100
182.7500
MAY 14
123.5600
5.46000
2 . 5 5 6 50
102.0800
16.5100
25.8700
21.2900
39.0300
11.1000
181.6500
0.11740
0.33470
39.1500
8.0000
36.8200
99.7000
18.2000
3.3300
114.8500
1.4800
11.9500
22.6200
39.9900
181.6500
@FedFRASER