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Selected Interest & Exchange Rates Weekly Series of Charts November 13,1978 DIVISION OF INTERNATIONAL FINANCE Prepared by the FINANCIAL MARKETS SECTION BOARD OF GOVERNORS FEDERAL RESERVE SYSTEM Washington, D C. 20551 Table of Contents TABLES 1. LATEST FIGURES PLOTTED 2. DAILY CERTIFIED SPOT EXCHANGE RATESH110 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 a 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 SUBSCRIPTION RATES: - 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. CHART 2 3-MONTH FORWARD EXCHANGE RATES PREMIUM (+) OR ( - ) AVERAGES FOR WEEK ENDING WEDNESDAY PER PER CENT PER ANI ENT PER ANNUM — 6 ITALIAN LIRA CANADIAN DOLLAR + 0 » - - 6 6 DUTCH GUILDER + 0 U. K. POUND 6 12 18 6 SWISS FRANC GERMAN MARK + 0 + 0 FRENCH FRANC JAPANESE YEN 6 12 1976 1978 1976 1978 CHART 3 PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY U.S. DOLLARS PER FINE OUNCE IOLLARS PER FINE OUNCE — 2 4 0 220 220 200 200 180 180 1 2 . 5 Kg BARS AFTERNOON FIXING PRICE 160 160 140 140 120 120 100 100 1975 1976 1977 1978 CHART 4 CALL MONEY RATES WEEKLY PER C SERIES PER CENT PER ANN! T PER ANNUM 1 12 U.S. F E D E R A L FUNDS JAPAN 8 - 4 - V \ OVERNIGHT E U R O - D O L L A R S 0 — 16 FRANCE 12 - 8 U.K. 2 - D A Y LOCAL v\ - AUTHORITY 4 I 0 I I I I I lllllllilll 12 NETHERLANDS CANADA 8 4 I I I II I I I I I I 0 12 8 E U R O - S W I S S FRANC GERMANY 4 EURO-DM 1976 1978 1976 1978 CHART 5 3-MONTH INTEREST RATES WEEKLY SERIES PER CENT PER ANNUM PER CENT PER ANNUM 12 12 — CANADIAN FINANCE CO. PAPER WEIGHTED AVERAGE FOREIGN RATE U.S. CD S JAPANESE BANK LOANS AND DISCOUNTS U.K. INTERBANK STERLING I I I II I II I I SWISS INTERBANK RATE GERMAN INTERBANK 1976 RATE 1978 1976 1978 CHART 6 EURO-DOLLAR DEPOSIT RATES LONDON AVERAGES FOR WEEK ENDING WEDNESDAY PER CENT PER ANNUM PER CENT PER 10 OVERNIGHT 3-MONTH 6 2 10 6-MONTH 7-DAY 6 2 10 1-YEAR 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 PBR ANNUM 10 8 3-MONTH EURO-DOLLAR DEPOSITS FEDERAL FUNDS DASHED LINE 6 OVERNIGHT EURO-DOLLAR DEPOSITS 90-DAY CD'S DASHED LINE 4 2 DIFFERENTIAL DIFFERENTIAL ADJUSTED FOR RESERVE REQUIREMENTS ADJUSTED FOR RESERVE REQUIREMENTS + 0 2 FAVORS BORROWING IN 1976 U. S. IF POSITIVE 1978 1976 1978 CHART 8 INTEREST ARBITRAGE: 3-MONTH FUNDS D I F F E R E N T I A L : P L U S M , INDICATES FAVOR D O L L A R A S S E T S AVERAGES FOR WEEK ENDING WEDNESDAY ENT PER ANNUM PER CENT PER AhJNU^^^ 14 12 EURO-DOLLAR DEPOSITS 12 INTERBANK DM 8 COVERED FRANKFURT 10 EURO-DOLLAR 4 DEPOSITS DASHED 8 + 0 INTERBANK STERLING COVERED LONDON 6 8 4 2 DIFFERENTIAL 4 DIFFERENTIAL + 0 + 0 2 14 14 12 12 SWISS INTERBANK (SF) COVERED DASHED LINE 10 CANADIAN FINANCE CO. PAPER, COMMERCIAL 8 COVERED 10 PAPER EURO-DOLLAR DASHED DEPOSITS 8 6 6 4 4 + 0 + 0 "V-. 2 DIFFERENTIAL V- # DIFFERENTIAL J__L 1976 1978 1976 1978 CHART 9 LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES PER CENT PER ANNUM PER CENT PER ANNUM 10 i \ \r\ i - f\y UNITED S T A T E S CANADA hj - — "l I I I I ~ I I I I I I I nliiliilii JAPAN INDUSTRIAL SWITZERLAND GERMANY 111llll111 UNITED KINGDOM FRANCE NETHERLANDS U. S . CORPORATE MONTHLY U. S . ,\ / X CORPORATE MONTHLY EURO-DOLLAR BONDS Aaa BONDS EURO-DM BONDS III 1976 1978 1976 1978 CHART 10 INDUSTRIAL STOCK INDEXES WEEKLY SERIES RATIO SCALE 1969=100 RATIO SCALE 1969=100 140 — 120 - UNITED STATES 200 - 160 100 j - A/ \- 80 UNITED KINGDOM - - 120 100 i 60 i i I I I 80 JAPAN 60 200 160 - — 140 40 — 120 - 100 A V » CANADA 100 j 80 — - SWITZERLAND 80 - 60 60 i i i 50 140 120 — - A r 1 FRANCE \ GENERAL V 1976 - - 120 100 • - nil! hill 1 60 - GERMANY 1 - ~ INDEX 100 80 140 1978 80 1 1 1 1 1 1976 1 60 1978 | 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 ITALIAN LIRA CENTS) NOV. NOV. NOV. NOV. NOV. NOV. NOV. NOV. NOV. 8 8 8 8 8 8 8 8 8 53.. 0 1 0,. 5 3 0 2 8 49,. 1 1 198. .22 85..52 2 3 , ,29 61..65 3 ,.37909 0,. 1 1 9 7 1 NOV. NOV. NOV. NOV. NOV. NOV. NOV. NOV. NOV. 8 8 8 8 8 8 8 8 8 .. 149.11 138.84 140.99 80.17 85.24 104.95 198.32 133.15 68.00 I N D I C E S , MARCH 1 9 7 3 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 - WEIGHTED AVERAGE EXCHANGE VALUE I N D I C E S , MAR 1973 = 100 U . S . DOLLAR GERMAN MARK JAPANESE YEN DUTCH GUILDER U . K . POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC BELGIAN FRANC ITALIAN LIRA CHART 2 . NOV. NOV. NOV. NOV. NOV. NOV. NOV. NOV. NOV. NOV. " 8 8 8 8 8 8 8 8 8 8 87.80 142.66 128.75 129.40 69.98 75.39 94.14 182.01 121.34 59.13 8 8 8 8 8 8 8 8 0 . .77 - 1 . .96 8..40 1,.64 12..43 2.. 8 1 10,, 2 1 - 4 . .38 3-MONTH FORWARD EXCHANGE RATES, PREMIUM OR DISCOUNT CANADIAN DOLLAR U . K . POUND GERMAN MARK FRENCH FRANC SWISS FRANC DUTCH GUILDER JAPANESE YEN http://fraser.stlouisfed.org/ ITALIAN LIRA Federal Reserve Bank of St. Louis NOV. NOV. NOV. NOV. NOV. NOV. NOV. NOV. LAST VALUE PLOTTED DATE VALUE ^ SERIES NAME CHART ? . GOLD PRICE IN LONDON U.S. 4. DOLLARS PER FINE OUNCE NOV. 9.84 10.05 9.88 9.30 3.10 2.90 4.13 7.00 8.50 0.10 NOV. NOV. NOV. NOV. NOV. NOV. NOV. 8 8 8 8 8 8 8 10.00 3.83 4.57 10.34 11.54 0.13 6.01 NOV. NOV. NOV. NOV. NOV. NOV. 8 8 8 8 8 8 10.05 9.71 10.40 11.44 11.75 11.70 8 8 8 8 8 8 10.05 9.84 0.21 11.44 10.00 0.80 EURO-DOLLAR DEPOSIT RATES: LONDON OVERNIGHT 7-DAY 1-MONTH 3-MONTH 6-MONTH 1-YEAR CHART 7 . NOV. 8 NOV. 8 NOV. 3 NOV. 3 NOV. 3 NOV. 3 NOV. 3 NOV. 3 OCT. 20 NOV. 3 3-MONTH INTEREST RATES U . S . 90-DAY CD'S GERMAN INTERBANK LOAN JAPANESE BANK LOANS & DISCOUNTS CANADIAN FINANCE PAPER INTERBANK STERLING SWISS INTERBANK LOAN WEIGHTED AVERAGE FOREIGN INTEREST RATE CHART 6 . 216.37 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 5 . 8 SELECTED EURO-DOLLAR AND U . S . MONEY MARKET RATES OVERNIGHT EURO-DOLLAR DEPOSITS U . S . FEDERAL FUNDS DIFFERENTIAL A D J . FOR RESERVE REQUIREMENTS 3-MONTH EURO-DOLLAR DEPOSIT RATE U . S . 90-DAY CD'S DIFFERENTIAL ADJ. FOR RESERVE REQUIREMENTS NOV. NOV. NOV. NOV. NOV. NOV. SERIES NAME CHART 8 . LAST VALUE PLOTTED DATE VALUE INTEREST ARBITRAGE, 3-MONTH FUNDS EURO-DOLLAR DEPOSIT INTERBANK STERLING (LONDON), COVERED DIFFERENTIAL NOV. NOV. NOV. 8 8 8 11.44 9.58 1.86 U . S . COMMERCIAL PAPER CANADIAN FINANCE PAPER, COVERED DIFFERENTIAL NOV. NOV. NOV. 8 8 8 10.01 11.11 -1.10 EURO-DOLLAR DEPOSIT INTERBANK DM (FRANKFURT), COVERED DIFFERENTIAL NOV. NOV. NOV. 8 8 8 11.44 12.23 -0.79 EURO-DOLLAR DEPOSIT SWISS INTERBANK, COVERED DIFFERENTIAL NOV. NOV. NOV. 8 8 8 11.44 12.56 -1.12 NOV. NOV. SEPT. OCT. NOV. OCT. OCT. OCT. 3 10 8,.82 6.. 1 1 6.. 1 9 3,. 0 7 9.. 5 6 10,. 0 2 8,.03 11.. 6 0 CHART 9 . 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 . 27 3 20 20 27 SEPT. AUG. AUG. 8.78 6.69 8.12 INDUSTRIAL STOCK INDICES UNITED STATES JAPAN CANADA FRANCE UNITED KINGDOM SWITZERLAND GERMANY NOV. OCT. OCT. OCT. NOV. NOV. OCT. 3 27 13 20 3 3 27 98.97 289.02 114.93 128.15 112.53 67.21 105.78 F E D E R A 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 _ NOVEMBER FOREIGN EXCHANGE RATES FOR THE WEEK ENDING NOVEMBER 10, 14, 1978 1978 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 MFXICO NETHERLANDS NEW ZEALAND NORWAY PORTUGAL SOUTH AFRICA SPAIN SRI LANKA SWEDEN SWITZERLAND U N I T E D KINGDOM MONETARY UNIT NOV. 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 114.8200 7.16846 3.34896 85.6900 19.0024 25.0156 23.1374 52.4521 12.8000 197.6500 0.11869 0.52562 45.8500 4.3879 48.5909 105.9500 19.7902 2.1575 115.0000 1.4021 6.4000 22.9753 60.6061 197.6500 6 NOV. H 0 L I D A Y 7 (RATE U . S . NOV. CENTS) 8 115.2000 7.29129 3.39789 85.2500 1 9 . 2 864 25.2781 23.4055 53.2907 12.8000 197.5000 0.12005 0.53405 45.6400 4.3879 49.3097 106.2000 20.0000 2.1934 115.0000 1.4152 6.4000 23 . 0 8 4 0 61.9812 197.5000 NOV. 9 115.2800 7.27934 3.38983 85.3200 1 9 . 1883 25.2717 23.2829 53.0082 12.8000 197.2000 0.11Q47 0 . 5 3220 45.9700 4.3860 49.1400 106.3000 19.9740 2 . 1786 115.0000 1.4154 6.4000 23.0547 61.4439 197.2000 NOV. 10 115.1500 7.23327 3.37952 85.3300 19.9005 25.1636 23.3236 53.0645 12.3000 196.7000 0.11919 0.53022 45.7700 4.3879 49.0196 106.0000 19.9322 2.1645 115.0000 1.4100 6.4000 23.0681 61.6143 196.7000
@FedFRASER