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(516/517) oMk [LLJ L Selected Interest & Exchange Rates Weekly Series of Charts May 21,1979 DIVISION OF INTERNATIONAL FINANCE Prepared by the FINANCIAL MARKETS SECTION BOARD OF GOVERNORS FEDERAL RESERVE SYSTEM Washington, D C. 20551 ,97„ "*AKY * * 4 . 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 INDICES 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 INDICES CHART 1 SPOT EXCHANGE INDICES DOLLAR PRICES OF FOREIGN CURRENCIES AND WEIGHTED AVERAGE VALUES (THIN LINE) AVERAGES FOR WEEK ENDING WEDNESDAY RATIO SC:ALE MARCH 1973==100 ALE 973=100 120 100 FOREIGN CURRENCY PRICE OF U.S. DOLLAR 80 CANADIAN DOLLAR 60 III I I I 120 FRENCH FRANC GERMAN MARK 100 80 240 SWISS FRANC JAPANESE YEN 200 n V v - 160 - 11111111111 140 120 160 BELGIAN FRANC 140 DUTCH GUILDER 120 100 100 ITALIAN LIRA 80 U.K. POUND 60 1977 1979 1977 1979 CHART 2 3-MONTH FORWARD EXCHANGE RATES PREMIUM (+) OR ( - ) AVERAGES FOR WEEK ENDING WEDNESDAY PER CENT PER ANN! CENT PER ANNUM 6 ITALIAN LIRA CANADIAN DOLLAR + - 0 I' 6 T I i l l 6 DUTCH GUILDER U. K. POUND + 0 6 12 18 12 GERMAN MARK SWISS FRANC I - 6 + 0 i I i I n 11111111111 i 6 JAPANESE '/EN FRENCH FRANC A] + 0 v — - 6 12 1 1977 1979 1 1 1 1 1977 1 l l l l l l l l l i l 1979 CHART 3 PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY U.S. DOLLARS PER FINE OUNCE U.S. DOLLARS PER FINE OUNCE 260 260 240 240 220 220 12.5 Kg BARS 200 200 AFTERNOON FIXING PRICE 180 180 160 160 140 140 120 120 100 100 1976 1977 1978 1979 CHART 4 CALL MONEY RATES WEEKLY SERIES PER PER CENT PER ANI ENT PER ANNUM 14 JAPAN 10 - — - - OVERNIGHT EURO-DOLLARS 6 U.S. FEDERAL FUNDS I 2 I I 16 \ | 12 U.K. 2-DAY LOCAL AUTHORITY NETHERLANDS 8 4 0 - I I I I I I 12 — - w y Vr \ - 1/ W CANADA 8 FRANCE 1 f - 4 8 EURO-SWISS FRANC 1 GERMANY 4 EURO-DM + 0 4 i i i 1 1 1977 1 11111111111 1979 1977 1979 CHART 5 3-MONTH INTEREST RATES WEEKLY SERIES PER ANNUM PER CENT PER 16 U.K. INTERBANK STERLING 12 8 WEIGHTED AVERAGE FOREIGN RATE 4 8 GERMAN INTERBANK RATE JAPANESE BANK LOANS AND DISCOUNTS 4 0 SWISS INTERBANK RATE 4 CANADIAN FINANCE CO. PAPER + 0 1977 1979 1977 1979 CHART 6 EURO-DOLLAR DEPOSIT RATES LONDON AVERAGES FOR WEEK ENDING WEDNESDAY PER CENT PER ANNUM PER CENT PER ANNUM 3-MONTH OVERNIGHT 4 - 7-DAY - fi 6-MONTH L ' - 12 1-MONTH - 1-YEAR J - - I 1977 * 1979 I 1977 I 1979 # CHART 7 SELECTED EURO-DOLLAR AND U. S. MONEY MARKET RATES AVERAGES FOR WEEK ENDING WEDNESDAY PER CENT PER ANNUM PER CENT PER ANNUM OVERNIGHT EURO-DOLLAR DEPOSITS Y. 3-MONTH EURO-DOLLAR FEDERAL FUNDS DEPOSITS 9 0 - D A Y CD S DASHED LINE DASHED LINE I I I I I I I I I I I 1 I 1 1 11 I 1 1 I 1 I I I I I I I I I I I DIFFERENTIAL DIFFERENTIAL ADJUSTED FOR RESERVE REQUIREMENTS 1 - F /VVVVvAA/ I I I I I I I I I I I I 1979 1977 FAVORS BORROWING IN U. S. IF POSITIVE I i I i I I I 1977 I 11111111111 W 11111111111 1979 CHART 8 INTEREST ARBITRAGE: 3-MONTH FUNDS DIFFERENTIAL: PLUS(+), INDICATES FAVOR DOLLAR ASSETS AVERAGES FOR WEEK ENDING WEDNESDAY PER CENT PER ANNUM PER CENT PER ANNUM 14 16 EURO-DOLLAR DEPOSITS CANADIAN FINANCE CO. PAPER, COVERED . • N INTERBANK STERLING COVERED LONDON f DIFFERENTIAL A v / U.S. COMMERCIAL PAPER . y v w v A A - v DIFFERENTIAL I I f I I ' iiIiiliiIii I SWISS INTERBANK (SF) COVERED INTERBANK DM COVERED FRANKFURT EURO-DOLLAR DEPOSITS Z EURO-DOLLAR DEPOSITS DASHED LINE DIFFERENTIAL DIFFERENTIAL 1977 1979 1977 1979 CHART 9 LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES PER CENT PER AL :ENT PER ANNUM 11 UNITED STATES CANADA — 9 - I I I I I IIIIIIMII. I 7 7 - — SWITZERLAND - - 1 GERMANY I I J - 5 — 3 - I I I I I I I 1 16 UNITED KINGDOM FRANCE 14 12 10 NETHERLANDS 8 U. S . CORPORATE 11 MONTHLY Aaa BONDS 9 JAPAN EURO-DOLLAR BONDS 7 5 1977 1979 1977 1979 CHART 10 INDUSTRIAL STOCK INDICES WEEKLY SERIES RATIO RATIO 1969= 140 UNITED STATES 120 UNITED KINGDOM 100 80 360 320 JAPAN 280 y j l t- — 240 200 - I I I I I I 140 SWITZERLAND 120 CANADA 100 80 150 130 FRANCE GENERAL INDEX GERMANY 110 - - 90 - I 70 1977 1979 I I I I 1977 I 1979 s LAST VALUE PLOTTED DATE VALUE SERIES NAME CHART 1 . SPOT EXCHANGE RATES AND INDICES 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 INDICES, MAY MAY MAY MAY MAY MAY MAY MAY MAY 16 16 16 16 16 16 16 16 16 52.55 0.46631 48.28 205.16 86.22 22.76 58.04 3.28430 0.11769 MAY MAY MAY MAY MAY MAY MAY MAY MAY 16 16 16 16 16 16 16 16 16 147.83 122.09 138.61 82.98 85.94 102.55 186.71 129.42 6 6 . 86 16 16 16 16 16 16 16 16 16 16 16 90.00 144.55 113.97 129.76 74.27 77.67 93.77 174.56 120.23 59.29 92.55 16 16 16 16 16 16 16 16 -0.51 -1.40 5.38 1.42 10.64 3.19 6.07 -0.65 MARCH 1973 BASE RATES = 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 [GHTED AVERAGE EXCHANGE VALUE I N D I C E S , ( G - 1 0 COUNTRIES PLUS SWITZERLAND) 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 LIRA SWEDISH KRONA CHART CENTS) MAR 1973 = 100 MAY 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 I T A L I A N LIRA MAY MAY MAY MAY MAY MAY MAY MAY LAST VALUE PLOTTED DATE VALUE SERIES NAME CHART 3 . GOLD PRICE I N LONDON, AFTERNOON F I X I N G U.S. 4. MAY 16 DOLLARS PER FINE OUNCE 253.35 CALL MONEY RATES MAY MAY MAY MAY MAY MAY MAY MAY APRIL MAY 16 16 11 11 11 11 11 11 27 11 10.25 10.32 12.00 11.00 5.10 5.03 5.06 7.13 6.60 0 . 89 MAY MAY MAY MAY MAY MAY MAY 16 16 16 16 16 16 16 10.19 5.83 5.25 11.33 11.85 1.42 7.26 MAY MAY MAY MAY MAY MAY 16 16 16 16 16 16 10.32 10.26 10.51 10.80 11.03 11.01 OVERNIGHT EURO-DOLLAR DEPOSITS U . S . FEDERAL FUNDS DIFFERENTIAL ADJ. FOR RESERVE REQUIREMENTS MAY 16 MAY 16 MAY 16 10.32 10.25 0.07 3-MONTH EURO-DOLLAR DEPOSIT RATE U . S . 90-DAY C D ' S , SECONDARY MARKET DIFFERENTIAL MAY 16 MAY 16 MAY 16 10.80 10.19 0.61 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 . 90-DAY C D ' S , SECONDARY MARKET GERMAN INTERBANK LOAN JAPANESE BANK LOANS & DISCOUNTS CANADIAN FINANCE PAPER INTERBANK STERLING SWISS INTERBANK LOAN WEIGHTED AVERAGE FOREIGN INTEREST RATE ( G - 1 0 COUNTRIES PLUS SWITZERLAND) CHART 6 . EURO-DOLLAR DEPOSIT RATES: LONDON OVERNIGHT 7-DAY 1-MONTH 3-MONTH 6-MONTH 1-rYE AR 7. SELECTED EURO-DOLLAR AND U . S . MONEY MARKET RATES SERIES NAME 'CHART 8 . I # # INTEREST ARBITRAGE, 3-MONTH FUNDS EURO-DOLLAR DEPOSIT INTERBANK STERLING (LONDON), COVERED DIFFERENTIAL MAY 16 MAY 16 MAY 16 1 0 . 80 1 0 . 45 0. 35 U . S . COMMERCIAL PAPER CANADIAN FINANCE PAPER, COVERED DIFFERENTIAL MAY 16 MAY 16 MAY 16 9 . 98 1 0 . 82 - 0 . 84 EURO-DOLLAR DEPOSIT INTERBANK DM (FRANKFURT), COVERED DIFFERENTIAL MAY 16 MAY 16 MAY 16 1 0 . 80 1 1 . 21 - 0 . 41 EURO-DOLLAR DEPOSIT SWISS INTERBANK, COVERED DIFFERENTIAL MAY 16 MAY 16 MAY 16 1 0 . 80 1 2 . 06 - 1 . 26 MAY 11 MAY 4 MARCH MAY 4 MAY 11 MAY 4 APRIL 27 MAY 4 9 . 37 7 . 46 6 . 95 3 . 19 9 . 84 9 . 63 8 . 42 1 0 . 26 CHART 9 . # LAST VALUE PLOTTED DATE VALUE LONG TERM GOVERMENT BOND YIELDS UNITED STATES GERMANY JAPAN (MONTHLY) SWITZERLAND CANADA FRANCE NETHERLANDS UNITED KINGDOM U . S . CORPORATE AAA BONDS EURO-DM BONDS EURO-DOLLAR BONDS CHART 1 0 . 9 . 37 6 . 63 8 . 59 MARCH DEC. MARCH INDUSTRIAL STOCK INDICES UNITED STATES JAPAN CANADA FRANCE UNITED KINGDOM SWITZERLAND GERMANY MAY APRIL DEC. FEB. MAY APRIL MAY 11 27 29 9 4 27 4 1 0 3 . 25 2 9 8 . 87 1 1 3 . 81 1 2 4 . 62 1 3 3 . 06 8 0 . 65 1 0 1 . 30 llggp F E D E R A L H#10( 512) R E S E R V E statistical release V|AV ?2 • FOREIGN EXCHANGE RATES FOR THE WEEK ENDING MAY 1 8 , * 1979 1979 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 MONETARY UNIT MAY 14 MAY 15 AUSTRALIA AUSTRIA BELGIUM CANADA DENMARK F I M l AND FRANCE GERMANY INDIA IRELAND ITALY JAPAN MALAYSIA MEXICO NETHERLANDS MEW 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 ESCUIO RAND PESETA RUPEE KRONA FRANC POUND 111.0800 7.15180 3.28947 86.0215 18.7143 25.1093 22.7738 52.6177 11.9200 199.2000 0.11766 0.46729 45.0045 4.3764 48.3489 104.5200 19.2678 2.0284 118.2000 1.5138 6.4250 22.7687 58.1564 204.3500 111.0400 7.13140 3.27439 86.1253 16.6289 25.0847 22.6963 52.3999 11.9200 199.1000 0.11737 0.46685 44.9438 4.3764 48.2021 104.6000 19.2392 2.0222 118,2000 1.5138 6.4250 22.7583 57.8536 206.3500 (R& TE U . S . CENTS MAY 16 111.0000 7.12124 3.27976 96.4305 18.6445 25.0689 22.7221 52.4576 11.9200 198.2000 0.11764 0.46653 44.9438 4.3802 48.1672 104.7500 19.2491 2.0202 118.2000 1.5139 6.4250 22.7790 57.8905 206.1000 %AY 17 M/8Y 18 110.7600 7.10227 3.26584 36.4454 18.5701 25.0627 22.6372 ^2.2575 11.9200 198.3000 0.11744 0.46147 44.9742 4.3940 47.9846 104.5000 19.2049 2.0161 118.4800 1.5133 6.4250 22.7479 57.6868 205.5000 11C.4200 7.06464 3.24675 36.6326 18.4843 24.9813 22.5 22* 52.0698 12.1700 196.5000 0.11687 0.45704 44.953° 4.3879 47.8240 104.1000 19.1387 2.0080 IIP.4300 1.5103 6.4250 22.7402 57.4878 205.6500
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