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SELECTED INTEREST &
EXCHANGE RATES
FOR MAJOR COUNTRIES &
THE US.
OEBCLY t e f U G t OF CHARTS
TABLE OF COWTBITS
PARTI. EXCHANGE RATES AND GOLD PRICES
Chart 1A and B - Spot f w t i y Rates, Major Cm—cies tgaiart U j . Dollar
Chart 2A and B - 34tonte Femaid Exchange Rales, tbjor Cnmencies i f i i r t
U.S. Dollar
Chart 3A and B - Mtente Fonmd Exchange Rates, Major Cterencies against
UlLPoiad
Chart 4
-Gold Price frLmdon
PART 11. SHORT-TERM ETEREST RATES
Chart 5
Call Money Rates
Chart 6A and 8 -London- Emo-S Deposit Rates
Chart 7A and 6 - Near Yoric - London: Yields on U.S. Dollar Fimds
Chart 8A and B -London: Cowied Yields on US. Dollar Finds
Chart 9A and 6 - latewst AANrage: United States-United Kingdom
Chart 10A and B - loteiest AihHrage: U.S.-Ceimanr and U.S--Switoertand
Chart 11
- Intewst Aihitrage: United States-Canted
Chart 12A and B - Selected Short-tow Interest Rates
PART III. LONG-TERM INTEREST RATES AMD STOCK INDICES
Chart 13
Chart 14
- Long-Tee Bond Yields
- teteisirfef Stecfc Indices
PART IV. SELECTED CENTRAL BANK DISCOUNT RATES AND
LATEST FIGURES PLOTTED ON THE CHARTS
NOTE: This series is a omtmoHm d tee CAPITAL MARKETS DEVELOPMENTS A0ROAD,
ahich mas piilirhid mder teat Wte ten*# nrrmterr fl, MK,
The <*anges in tee tern* and enter of * e charts aneenpteteod in tee S*pten«at
te tee series, nhkk acconp—ied isswe dated Jaanaiy 1, 1 W .
All series and teeir sowces aee telly described in a Sigpteeont dated Jimmy 1,1972.
SPOT EXCHANGE RATES MAJOR CUMKMOES AGAWST US. DOLLAR
us.
DUTCH GUILDER
JAFi
YEN
QUTCM cuusee
2
m
t
«
o
j
S
D
iS72
* f-ounc itoatec June 23 1972
S*'Sb Franc floated January 23 1973 See separate chart
* * * Japanese \en floated February 13 1973
1 1 1 1
FRASER
6asec or new Central Rate
Digitized for
*
J
*73
S
D
Ctwt 18
srar EXCHMGE MATE - «AJO* OmKHCIU AfiMMfT US. O O U M
324
W$
M
J
0
S
M
J
1*72
0
S
1*73
(, US cents
IIJI.
240
S
L
W
1970
**
1971
Italian Life * -aiec feo'uary 1; 1973
****6asec ^
J
Rate
S
D
D
W
w
J
S
1*72
s
D
0W
s
J
1*7*
0
&MOMTW FORWARD EXCHANGE - MAJOR CURREHCES AGAMIST US. DOLLAR
Weekly averages
Per cent per annum
DISCOUNT -
DUTCH
s
s
D
1970
D
1971
* Canadian Dollar Rate not supported by Ban* o< Canada
See DESCRIPTION A*ID SOURCES Of DATA January i 1973. pp 2 5-
S
1972
D
S
1973
D
C4wt 26
MKMOTM Hmmm>
1 ' 1 M
|
exchamge -
1 1 ] 1 1 J ! ' p
M
' H
MAJOB
M
|
M
I
P
' • ' ! ; 1 ! |
PREMIUM +
M
] M
Pef cent per »oaum
1 ' M M
fMMCMHUmC
.1
~
ACMUT US, o o t u u i
-
DISCOUNT PREMIUM +
M
mm Hume
f
-
DISCOUNT - |
i i 1 i i ! i i 1 i i
M
J
S
D
1970
i i i m
M
J
I
: ; I J i i
i I 1 > ; ; i I i i i
S
D
M
J
S
1971
See DESCRIPTION AMD SOURCES Of DATA. January 1, 1973. PP 2 3.
1972
1 1 1 l 1 1 ! I ! i 1
1973
Chart 3A
frittay figures
DISCOUNT
ST* DESCRIPTION A N : S O U R C E S Of DATA JANUAFY ] . 1 9 7 ; . P
Chart 36
3-WWTH HHtmtmD EXCHANGE - MAJOU CUMENCES M M K T UX. POUND
frxUy figures
Pe< ccirt per «A«MI
f «E«tCM HM«C
1*70
1971
DLS r > - ' ON AND SOURCES Of DA" A . = - ua-. : : v -
1*72
: :
1*73
See DESCRIPTION AHD SOURCES Of DATA. January 1 1973. p 4
Ch»rt5*
ROTES
CALL
DOLLAR F U N D S
*iy
Per cent per annum
14
OVERNIGHT EURO-DOLLAR DEPOSES
CALL EURO-DOLLAR DEPOSITS
10
FEDERAL FUNDS
DIFFERENTIA!
EURO-DOLLAR OVER
EURO DOLLAR
FAVOR FEDERAL FUNDS
EURO-CURRENCIES
Weekly averages
Per cent per annum
EURO-SWISS FRANC
1970
1971
* Changed from CALL to OVERNIGHT Euro-dollar deposits May 10, 1971
See DESCRIPTION AND SOURCES OF DATA. January 1. 1973. pp 4-6
1972
1973
owtee
O k i t HOMEY M f E S
s e l e c t e d foneiew mnp e t c c u s w e w c e s
ffMW < j p i w
M
J
tier
S
D
M
1*70
J
1*71
S
D
M
cam*
J
S
D
M
1*72
france. Day-to-day Money. Wetherlands. Cell Monty, weekly aiterafe.
Uoceodrtioeal Maaay,
Canada. Day to-day Loans, weekly a*era#e. Cerwiaey, CaM Mom ay UX , 2-day Local Av*erily
See DeSCfllPTiOH AMD SOURCES Of DAU. January 1. 1973. PO 4-6
J
S
1*73
D
a*
LOUDON: EURO-DOLLAR DEPOSIT RATES
Per cent per annum
Friday figures
12
1
I
I
J
{
1 V
1
1
!
i
I
[\
14MWTH
A
-
jy
-
i i 1 : ! 1 ! i 1 I i
W
J
S
D
1970
W
J
S
D
1971
* Wa> 12 ,'7; -cnangec to Overnight Euro-Dollar Deposits
* * July 1-changed tc 7-Day Euro-Dollar
^ DtSLPi^LION AND SOURCES OF DAU JDPUAN : 1973 R T-
W
J
S
1972
D
J
1973
S
!
Chart 6 6
LOMOON: EUKMTTUAFT DEPOSIT RATES
f<td*y <«ur«s
FW caat per
Vv
- AIA
V
-
I
f
A
f
i
1
v
/
\
I
! •i II 1 I l
1 !! !
' I• l i
I Ii i
I Ii I
I i
I J
1i
1 i
I IJ 1 ,i 1
I I1 1
I j
I 1i 1
I l.lJjLJI I ' I
I Ii 1iJ
I
1.
mo
&n
See DESCRIPTION MIC SOURCES Of DATA. January 1. 1973. p 6
vm
-
*1 I 1' 1 1 1 1 1
wn
#-** ueni pe* annufr
DEFERENTIAL
See DESCRIPTION AND SOURCES OF DATA January 1 1973. pp
f A V O R E U R O DOLLAR
cmtafusMUJm
3 M M W O O U M V & O & T M T £ $ - f * m f i K ¥ MMKCT
* Adiusled lor S e e n *
Adjusted tef 1 M H * h m I fleser* a < q u i f « i n t
See DESCRKUtOW AMD SOURCES Of DATA, January 1, 1973, pp 6 7
LONDON: COVERED YIELDS O N
US. D O L U W FUNDS
HIRE P U R C H A S E / S T E R L I N G C D ' s v s EURO DOLLAR RATES
Friday figures
Per cent per annum
12
ST£*U*G CD S
DIFFERENTIAL
FAVOR EURO DOLLAR
J
1970
1971
*+iit.e Furcna^e suso>enoec August 12 19""2 ant! Sterling Ortilicales cf Deposit
vegir Augus: 1: 19"1:
S*f DLSURK-" IC'N ANt- bDURCt.S D; DAU januarv 1 19"; VI ' b
s
n
Chart 86
UMBOtk c o w e e E D v e u w o n « « . D O O M
LOCAL AUTHORITY AMD EIWO-OOLLA* RATES
ff«day
FUND*
|
1
E I M 0 4 0I U E W W T
1
V
i \ V
|
ii
-
1 ii
If
/
LQCALM
!
COMBED
1 i i! i ,
; ; ; : i j . i i J i i 1 i J 1 i J
fiwoe
DFfCRtHTMU.
LOCAL Mtrmmtt*
Ky S//
Jl
M
Ei i ! i i 1 i i
s
o
m
j
YV~ /AvfiV
< A
1 1 i i I i 1 i 1 1 1
•
J S C
See DtSCeiPTKW MID SOURCES OF OAT* Jwuacy 1, 1973. pp 7-8
1 1 1 1 1 !1 i i
1 I I
j i 1 i i 1 i i 1 i i
MTCREST ARBITRAGE: UNITED KINGDOM AMD UNITED STATES
Fe' cent per annum
rftoay figures
3 - M O N T H TREASURY BILL RATES
14
-
j*n
1S7C
* Piotted ior comparison purposes
See DESCRIPTION AWD SOURCES 0^ DATA. January
1973. pp 6-9
JW73
12
Chart 96
mrm&rmmiMwi umiBD umcoom *m
U—TEPSTATES
today <<gt«es
Pe< cent p r annum
RATE DlfftRtWTlAL AMD 3 - W O W T H FORWARD STERLWG
RATt I M F f O t a m A L WITH fORMMRf) £AO*WG£ COMER
tf
J
S
0
M M
J
s
0
W 1
seeeesouKTioei^iosouectsof OAtA j*ww y I. 1973.WM
«
*
W S
J
W S
0
3-MOUTH FUNDS INTEfEST ARBITRAGE: EUHO-OOLUUtf«AN*FURT INTERBANK LOAM RATE VS LONDON EURO-DOLLAR RATE
Wednesday rales
Pef cent per annwm
fAVOR fRAWKf URT
DLFFTKCNTIAL
FAVOR EURO DOUM
L_U
1970
W1
e DLSCfilP'iOf. ANL SOURCES Of DAU January 2 1973 pp 9 10
fcv quoiaiiof
1*72
Hume
Pe* otni pe< Afw
ZURICH DEPOSIT RATE VS LOWOOW EURO-DOLLAR RATE
«Kedoes4»y <^es
T
T"
COWERED
FAVOR ZUflKX
DIFfEREWTlAL
FAVOR EUHV-DOLLAR
D
W
J
W S
See D E S a t r T I W iWO SOURCES Of DATA
S
D
W
i*ku*v 1. 1973,s*> 9-10
J
J f W
S
/
Xjamr\ i:
6111 RATE
fOfaaMfCD CMMDMN DOLLAR
IMyCOim
CO¥BR££ RATE
m
fAWftCM
VifftMttinmLB
\
v
J*tt>
m
J
IEE D L S C A ^ I I O * . AWL- BOLI^CTS OF FIAV*. JANUARY I
s
c
W1
1 9 ? 3 . PJJ 1 0 1
* 3 monin treasury iwli rales for all countries excep: .tapan(Average rale on ban* loans and discounts
ami Germanyitftterbwk Loan Rale
See DESCRIPTION AND SOURCES Of DAU January 1 1973, pp 11 12
ceet pe< #<Kiu«r
I *
1
I
h
^
K
!
L
—«L 1
V l
\ \
'
i i
A/
-
A
V
/
S a
1
x z
I
Ii i
" .
: i :
WO
^
;
*71
,
! i H m i . i i m ! , • i , 111 i I i i
*72
See DESCfitPTtOW iWD SOURCES Of DATA. January 1. 1973. pp 11-12
*73
1i I!I; ; !!:i
*74
<
-
LO*GT£R* BOWD WELDS
Weekly figures
tier
cent per a nnum
NETMEftLMMK
\ '
rA
y
vs.
I L - ,
-
~
i
-
mtmnump
•
; i
I i i ; i i 1 ; i h
i
i i i i I i i i 1 i i
i i 1 i i 1 i i I i i
I i 1 i i 1 i i 1 i i
; Wcmtnw hgutes
US
1970
1971
1972
bee DLSCRH-"! ION AN£ bOURCtb0* DATA jan u ar> 2 1973. pp 12 15
1973
1974
Mey30
*13
W 3
CmMtft*
to Cilect Suet
i
1
fmrtry
IV SELECTED CaiTtAL 8AWC MSCOWT MTES
nefctiSwce
C&C
5,5
Fte*
iter M>, 1973
7,50
Hov, 30, 1972
5,0
tee,
6,50
Mov, 2 , 1972
l e a . 12- 1071
6.00
Her 3 . 1973
#Wy
4,0
April 10, 1972
4,5
Oct, 14, 1972
NHWmdr
4,0
Nov, 3, 1972
3,0
Sept, 8 , 1972
8,50
Mere* 1 . 1973
8,75
Jen, 1 9 . 1973
Jen, 1, 1973
3,75
Sept, 15, 1972
**lfaited
Kinedoe
4,50
Cmmd#
IbWStttes
5,0
2 1 , 1973
5,75
Mmy 1 4 , 1973
5,25
A p r i l 9 , 1973
5,50
Mey 3 0 , 1973
5,00
A p r i l 2 , 1973
5,75
A p r i l 2 3 . 1973
5.50
Feb, 2 6 , 1973
* * £ f £ e c t i v e October 13, 1972, the Beak of Eogleod replaced I t s t r e d l t i o m e l
Beak Bete with e f l u c t u a t i n g ^ r i t i i e w lending r e t e " beeed on everege
Treeeury b i l l tender r e t e , Jenuery 1*9, 1 9 7 3 , , , 8 , 7 5
INDUSTRIAL STOCK INDEXES
Ratio scale. 1958 = 100
Ratio scale, 1958=100
UNITED STATES
240
160
1200
JAPAN
480
960
SWITZERLAND
SWITZERLAND
320
640
240
480
UNITED KINGDOM
JAPAN
320
160
CANADA
240
160
1970
1971
1972
1973
IV 2
LATEST FIGURES PLOTTED 00 THE CHARTS
Chart
Panel
Series
1A
Upper
Swiss franc*
U.K. pound*
French f r a n c *
Japanese yen *
|
Lower
i
16
j
Upper
Lower
Belgian franc *
Kalian l i r #
Canadian dollar*
German mark *
Dutch guildei*
Upper
German mark
Swiss iranc
U.K. pound
Dutch guilder
Canadian dollar
French franc
Japanese yen
2A
26
Lower
German mark
U.S. dollar
Swiss franc
French franc
3A
36
5A
Upper
Middle
Lower
56
May 25
"
;
"
"
««
"
••
"
"
"
"
"
j
;
Y
Upper
!
Lower
Overnight Euro-S deposits
Federal Funds
Differential
Euro-currencies
Euro DM
Euro Swiss Fr.
Japan Unconditional Money
U K 2-day Local Author. Deps.
Canada. Day-to-day Loans
France, Day-to Day Money
Germany Call Money
Netherlands Call Money
32,1960
255,4200
22,6460
,378760
2,57882
.16*660
100,0140
36,3500
35,1270
+6,20
<*,21
-1,66
44,44
4-1,53
+1.06
1
"
7,70
+1,3#
+4,90
+2,24
••
109,75
••
'
"
j
!
Gold price U.S. dollar per ounce
4
Rale
Dale
!
1
**r
23 ,
"
j
1
1lay 18, 25
M
1
[
f *9 %t20l8
Mm* 1 1
*r
May
M*y
May
23
18
25
15
1
1
1
!
7-25
8,06
-0,81
3,0
0,0
j
_j
1,81
2.68
5,88
SLU
4,44
7,44
1,13
3,53
*tieekly average of daily certified noon rate# by the Federal g4iirw Beak of Mm Yerfc.
These rate# ace not plotted.
IV - 3
Chart
Series
Panel
6A
Euro-S Overnight Rate
66
7A
Upper
Rate
Date
May 25
9.000
Euro-S 1-month Rate
.«
8.626
Euro-S 3-month Rate
"
8.687
Euro-S 6-month Rate
..
Euro-$ 3-month Deposits
8.750
May 23
8.38
U.S. Certificate of Deposits
Lower
7B
Upper
Euro-$ 3-month Deposits
+0.88
»
8.38
10.70
10.48
May 16
May 23
Euro-S 3-month Deposits (Adj.)
U.S. Certificate of Deposits (Adj.)
Lower
7.50
„
Differential
May 23
8.62
Differential: on Adj. Euro-S Deposits
+2.58
on Unadj. Euro-S Deposits
8A
Upper
S t e r l i n g CD's ( c o v e r e d )
86
Lower
Differential
Upper
Euro-S 3-month Deposits
Local Authority Deposits (covered)
Differential
Lower
9A
11
18
11
18
11
1ft
11
1ft
11
1*
11
18
j
+n 6ft
8.28
8.34
7.28
7.56
-0.94
- 1 10
8.28
8 34
7.34
7 OA
-1.00
-0.78
May 25
:
6.46
j
7.08
May
May
May
May
May
May
May
Mav
May
Mair
May
Mav
Euro-S 3-month Deposits
U.S. Treasury Bill rate
U.K. Treasury 6iii rate
Local Authority Deposit (uncovered)
96
Upper
i
Spread (+= favor London)
!
i
May 11
9.44
May 25
+0.62
3-month Forward Pound
!
I
i
Lower
Net Incentive (+- favor London)
1.52
j
i
'
"
i
-0-90
V
IV-4
P»el
Series
IDA
Upper
£im>-$ Deposits (coweed)
108
Lower
Differential
Upper
Eim>-S Deposits (couenad)
Swiss Deposit rage
11
Lower
Differential
Upper
Canadian Finance Paper
Rale
Dale
Merck 21
f
1
S
l
Chart
M^r
Hey
Her
Hey
Mur
8.75
««
10.88
slso
+0.51
44.41
Mey 25
6.50
6.46
Canadian Treasury Bill rale
5.06
U.S. Prime Finance paper
(not plotted)
6.75
Bill rale differential
-1.40
Forward Canadian dollar
12A
Third
Wet incentive on bills
Bottom
Met incentive on Finance Paper
Upper
U.K. Treasury Bill rale
? OQ
n
16
23
16
y
U.S. Treesury Bill r*e
Second
-2.13
M
+1.48
44 M
U.S. Treasury Bill rale
German Interbank Loan rate
Lower
Japanese Average rate
Canadian Treasury Bill rate
•4
MerA
6.712
25
5-06
Mey 18
M^r 25
* &e
3.50
1*1
Mey 25
6.46
U.S. Treasury Bill rate
120
Eim>-$ Deposits
Swiss 3-monlh Deposit rate
U.S. Treasury Bill rate
IV-5
Chart
Panel
Series
13
Upper
Netherlands
May
May
May
Hay
Canada
!
!
* United States
lleddle
Germany
United Kingdom
Lower
U.S. Corp. Dollar Euro-bonds S
U.S. Corp. DM Euro-bonds
U.S. Corp. Aaa bonds
Upper
14
Germany
i
United States
i
!
Middle
i
|
Switzerland
United Kingdom
Canada
Lower
1
i
* e Japan
United States
4
11
16
23
May 18
April 27
May 4. 11
Switzerland
i
Rate
Date
e r i e s
S e r l e s
G
G
6.61
6.87
7.60
7.70
6.84
5.42
5.41
5.43
May 7
9.08
Mqy 11
10.-964
March
7.99
March
6.89
March
7.29
May 25
403.6
May 15
May 18
May 25
300.2
239.88
238.76
May 25
262.53
May
May
May
May
May
269.69
815.16
828.74
239.88
238.76
17
11
19
18
25
"Average yield cm selected 10 y e a r constant maturity bonds due or callable in 10 years
"
Beginning week ended September 5 1970 the Japanese index plotted is that of all industrial and other stocks
on the First Section of the Tokyo Stock Exchange.
@FedFRASER