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(516/517) sat '***** = v V. ^ Selected Interest & Exchange Rates Weekly Series of Charts May 7,1979 DIVISION OF INTERNATIONAL FINANCE Prepared by the FINANCIAL MARKETS SECTION BOARD OF GOVERNORS FEDERAL RESERVE SYSTEM Washington, D C. 20551 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 a 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 SCALE 1973=100 RATIO S C A L E MARCH 1 9 77 3 = 1 0 0 120 100 FOREIGN CURRENCY PRICE OF U.S. DOLLAR CANADIAN DOLLAR v 80 \ 60 GERMAN MARK FRENCH FRANC 120 100 80 240 JAPANESE YEN J p ^ \ \\ SWISS FRANC - M 200 / a A / // ^ 160 - i i i i i i i 140 120 u l i i h i l l i 160 BELGIAN FRANC — DUTCH GUILDER - 140 120 — i i i I I 100 I 100 ITALIAN LIRA U.K. POUND 80 60 1977 1979 1977 1979 CHART 2 3-MONTH FORWARD EXCHANGE RATES PREMIUM (+) OR ( - ) AVERAGES FOR WEEK ENDING WEDNESDAY PER CENT PER PER CENT PER Ah ANNUM 6 ITALIAN LIRA CANADIAN DOLLAR + 0 6 I' I 1 1 1 I I 6 DUTCH GUILDER U. K. POUND + 0 6 12 18 12 GERMAN MARK SWISS FRANC / 6 + 0 - I I U r i i 6 FRENCH FRANC JAPANESE YEN 0 I - - 6 12 I 1977 1979 I I I I 1977 I 1979 CHART 3 PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY U.S. D O L L A R S PER FINE OUNCE U.S. D O L L A R S PER F I N E OUNCE 260 260 240 240. 220 220 12.5 Kg BARS 200 AFTERNOON 200 FIXING PRICE 180 180 160 160 140 140 120 120 100 1976 1977 1978 1979 CHART 4 CALL MONEY RATES WEEKLY SERIES PER PER CENT PER M :ENT PER ANNUM 14 JAPAN 10 OVERNIGHT EURO-DOLLARS 6 I I U.S. FEDERAL FUNDS llllllll 2 II 16 12 U.K. 2 - D A Y LOCAL AUTHORITY NETHERLANDS 8 4 II l l l l l l l l 0 FRANCE 12 CANADA 8 4 8 EURO-SWISS FRANC GERMANY 4 + EURO-DM 0 4 1977 1979 1977 1979 CHART 5 3-MONTH INTEREST RATES WEEKLY SERIES PER CENT PER ANNUM PER CENT PER ANNUM 16 U.K. INTERBANK STERLING 12 U.S. CD'S WEIGHTED AVERAGE FOREIGN RATE II 10 - V h GERMAN INTERBANK RATE - - JAPANESE BANK LOANS AND DISCOUNTS — - I I I I I - I I I I I I I 13 SWISS INTERBANK RATE r V # . CANADIAN FINANCE CO. PAPER - X 9 - [•A,j ' - *# 5 I I I I I 1977 I l l l l l l l l l l l I l h l h l l l l 1979 I I I I I 1977 I 1979 CHART 6 EURO-DOLLAR DEPOSIT RATES LONDON AVERAGES FOR WEEK ENDING WEDNESDAY PER CENT PER ANNUM PER CENT PER At 12 OVERNIGHT 3-MONTH 8 I I I II II I I I I 4 12 7-DAY Lv/yy 6-MONTH 8 4 t2 1-MONTH 1-YEAR - J - 8 - Illllllllll 4 1977 1979 I I I I I 1977 ! 1979 CHART 7 SELECTED EURO-DOLLAR AND U. S. MONEY MARKET RA AVERAGES FOR WEEK ENDING WEDNESDAY PER GENT PER ANNUM PER CENT PER ANNUM — 12 - 10 OVERNIGHT EURO-DOLLAR DEPOSITS 3-MONTH EURO-DOLLAR DEPOSITS FEDERAL FUNDS DASHED LINE / 9 0 - D A Y CD S DASHED I I I I I I I I I I I LINE I I I I I I I I I I 4 2 DIFFERENTIAL DIFFERENTIAL ADJUSTED FOR RESERVE REQUIREMENTS J I I 1977 FAVORS BORROWING IN U. S. IF POSITIVE - 1111111111 11111111111111 1979 i I I I I I 1977 I 11111111111 - 11111111111 1979 CHART 8 INTEREST ARBITRAGE: 3-MONTH FUNDS DIFFERENTIAL: PLUS(+), INDICATES FAVOR DOLLAR ASSETS AVERAGES FOR WEEK ENDING WEDNESDAY CENT PER ANNUM PER CENT PER Ah 16 12 EURO-DOLLAR DEPOSITS CANADIAN FINANCE CO. PAPER, COVERED 8 4 INTERBANK STERLING + 0 COVERED LONDON U.S. COMMERCIAL PAPER 4 4 DIFFERENTIAL + DIFFERENTIAL 0 16 14 SWISS INTERBANK (SF) COVERED 12 INTERBANK DM 10 COVERED FRANKFURT /' 8 EURO-DOLLAR DEPOSITS 6 EURO-DOLLAR DEPOSITS DASHED LINE 4 2 DIFFERENTIAL A/x + 0 ^vwVXv^^ DIFFERENTIAL 2 1977 1979 1977 1979 CHART 9 LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES PER CENT PER ANNUM PER CENT PER ANNUM 10 11 UNITED STATES V~- CANADA ~ 8 — p. 6 I - I I I I I I - Illllllllll - I I I I I " I 9 7 10 - — SWITZERLAND - \ - GERMANY y - - - I I I I I I ; Illllllllll I I I 1 16 UNITED KINGDOM FRANCE - 14 12 - 10 NETHERLANDS L_U U. S. CORPORATE 8 MONTHLY 11 MONTHLY - Aaa BONDS A V JAPAN - ~ EURO-DOLLAR BONDS I I I I 1977 1979 I I I I 1977 I ILLLLLLLLLL ILLLLLLLLLL 1979 CHART 10 INDUSTRIAL STOCK INDICES WEEKLY SERIES RATIO 1969=' RATIO SC 1969= :ALE o 140 — — UNITED STATES 120 v / /vvV Ay 100 V A l X a / * , UNITED KINGDOM - yA/ 80 i f I I I 11111111111 ~ / ' i l l l l l l l l l l l 360 A A 320 JAPAN 280 240 — 200 I I I I I I 140 SWITZERLAND 120 CANADA 100 80 1_L 150 f30 - FRANCE /VY, GENERAL INDEX ( J GERMANY 110 - r \ ' 90 70 I I I I I 1977 I ILL I I I I I I 1979 I I I I I 1977 I 1979 LAST VALUE "LOTTED DATE VALUE SERIES NAME CHART 1 . S°OT EXCHANGE RATES AND INDICES WEEKLY AVERAGES, NOON BUYING RATES ( U . S . CENTS) GERMAN MARK JAPANESE YEV DUTCH GUILDER U . K . POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC BELGIAN FRANC I T A L I A N LIRA MAY MAY MAY MAY MAY MAY MAY MAY MAY 2 2 2 2 2 2 2 2 2 52.72 0.45086 48.61 205.95 87.50 22.92 58.19 3.31225 0.11818 MAY MAY MAY MAY MAY MAY MAY MAY MAY 2 2 2 2 2 2 2 2 2 148.31 118.05 139.56 83.30 87.21 103.29 187.20 130.52 67.13 2 2 2 2 2 2 2 2 2 2 2 89.97 145.06 109.70 130.68 74.57 78.89 94.50 174.98 121.27 59.54 92.43 MAY %Ay ? 2 ? MAY 2 MAY %AY 2 MAY ? - 0 47 -1*.39 5 70 2*31 IQ^I 3 570 - i l l * I N D I C E S , MARCH 1973 BASE RATES = 100 GERMAN MARK JAPANESE YEN DUTCH GUILDER U . K . POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC BELGIAN FRANC ITALIAN LIRA WEIGHTED 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 ITALIAN LIRA SWEDISH KRONA MAR 1973 00 MAY MAY MAY MAY MAY MAY MAY MAY MAY MAY MAY CHART 2 . 3-MONTH FORWARD EXCHANGE RATES, PREMIUM OR DISCOUNT CANADIAN DOLLAR U . K . POUND GERMAN MARK FRENCH FRANC SWISS FRANC DUTCH GUILDER JAPANESE YEN ITALIAN LIRA MAY MAY 2 i 1 SERIES NAME CHART 3 . GOLD PRICE I N LONDON, AFTERNOON F I X I N G U.S. DOLLARS PER FINE OUNCE MAY 2 2 4 4 . 96 MAY MAY APRIL APRIL APRIL APRIL APRIL APRIL APRIL APRIL 2 2 27 20 27 27 27 27 6 27 1 0 . 22 1 0 . 39 1 2 . 25 1 1 . 13 5 . 00 4 . 98 5 . 13 7 . 13 6 . 60 0 . 90 MAY MAY MAY MAY MAY MAY MAY 2 2 2 2 2 2 2 9.94 5.61 5.25 11.23 11.76 1.41 7.06 MAY MAY MAY MAY MAY MAY 2 2 2 2 2 2 10.39 10.30 10.41 10.71 10.94 10.83 OVERNIGHT EURO-DOLLAR DEPOSITS U . S . FEDERAL FUNDS DIFFERENTIAL ADJ. FOR RESERVE REQUIREMENTS MAY MAY MAY 2 2 2 10.39 10.22 0.17 3-MONTH EURO-DOLLAR DEPOSIT RATE U . S . 90-DAY C D ' S , SECONDARY MARKET DIFFERENTIAL MAY MAY MAY 2 2 2 io. m 9.9? 0.77 CHART 4 . 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 LAST VALUE P DATE VALU 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 I G - I O COUNTRIES PLUS SWITZERLAND) CHART 6 . EURO-DOLLAR DEPOSIT RATES: LONDON OVERNIGHT 7-DAY 1-MONTH 3-MONTH 6-MONTH 1-YEAR CHART 7 . SELECTED EURO-DOLLAR AND U . S . MONEY MARKET RATES SERIFS NAME CHART 8 . LAST VALUE PLOTTED DATE VALUE INTEREST ARBITRAGE, 3-MONTH FUNDS EURO-DOLLAR DEPOSIT INTERBANK STERLING (LONDON), COVERED DIFFERENTIAL MAY MAY MAY 2 2 2 10.71 10.37 0.34 U . S . COMMERCIAL °APER CANADIAN FINANCE PAPER, COVERED DIFFERENTIAL MAY MAY MAY 2 2 2 9.76 19.76 -1.00 EURO-DOLLAR DEPOSIT INTERBANK DM (FRANKFURT), COVERED DIFFERENTIAL MAY MAY MAY 2 2 2 10.71 11.31 -0.60 F'JRC-DOLLAR DEPOSIT SWISS INTERBANK, COVERED DIFFERENTIAL MAY MAY MAY 2 2 2 10.71 11.62 -0.91 APRIL APRIL MARCH APRIL APRIL FEB. APRIL APRIL 27 20 9 ..25 7,.04 6..95 3,. 2 0 9., 6 9 9 , .49 8,.33 10,,49 CHART 9 . LONG TERM GOVERMENT BOND YIELDS UNITED STATES GERMANY JAPAN (MONTHLY) SWITZERLAND CANADA FRANCE NETHERLANDS UNITED KINGDOM 20 20 16 6 20 U . S . CORPORATE AAA BONDS FURO-DM BONDS EURO-DOLLAR BONDS CHART 1 0 . MARCH DEC. MARCH 9.37 6.63 8.59 INDUSTRIAL STOCK INDICES UNITED STATES JAPAN CANADA FRANCE UNITED KINGDOM SWITZERLAND GERMANY APRIL APRIL DEC. FEB. APRIL APRIL A»RIL 27 6 29 9 27 27 20 106.40 293.33 113.81 124.62 130.52 80.65 103.08 F E D E R A H.10(512) L R E S E R V E s t a t i s t i c a l r e l e a s e 1979 FOREIGN EXCHANGE RATES FOR THE WEEK MAY ENDING 4* 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 „ AUSTRALIA AUSTRIA BELGIUM CANADA DENMARK FINLAND FRANCE GERMANY INDIA IRELAND ITALY JAPAN MALAYSIA MEXICO NETHERLANDS NEW Z E A L A N D NORWAY PORTUGAL SOUTH AFRICA SPAIN SRI L A N K A SWEDEN SWITZERLAND UNITED KINGDOM MONETARY UNIT APR. DOLLAR SCHILLING FRANC DOLLAR KRONE MARKKA FRANC n . MARK RUPEE POUND LIRA YEN DOLLAR PESO GUILDER DOLLAR KRONE ESCUDO RAND PESETA RUPEE KRONA FRANC POUND 110.2500 7.15563 3.30633 87.5504 18.8412 24.8478 22.8754 52.6621 11.9500 200.5500 0.11825 0.45086 44.8430 4.3783 48.5791 104.4000 19.3461 2.0292 117.7000 1.5135 6.4250 22.7324 58.0889 206.8000 t 30 MAY 1 (RATE U . S . MAY 110.0400 7.15308 3.31345 87.5350 18.8501 24.8756 22.9043 52.7565 11.9500 200.8000 0.11813 0.44563 44.9229 4.3764 48.5673 104.2500 19.3686 2.0367 117.7003 1.5177 6.4250 22.7635 58.2174 205.9500 CENTS) 2 109.8200 7.16204 3.30469 87.5427 18.8182 24.8818 22.8781 5?.5984 11.9500 200.7000 0.11805 0.44454 44.7427 4.3764 48.4966 104.2000 19.3573 2.0400 117.7500 1.513P 6.4250 22.7428 57.9710 206.7700 MAY 3 109.9700 7.16076 3.2970 7 87.3439 18.7758 24.9035 22.8754 52.6122 11.9500 200.4000 0.11813 0.44484 44.7127 4.3764 48.4825 104.3000 19.?498 2.0358 117.7500 1. 5138 6.4250 22.7376 58.0720 207.6500 MAY 4 110.3200 7.15948 3.2902637.0247 18.7617 76.9128 22.8571 52.6593 12.1000 200.4000 0.11810 0.45147 44.84? 0 4.3745 48.4966 104.5000 19.3405 2.0387 117.7500 1.5135 6.4250 22.7273 58.1734 207.7500
@FedFRASER