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Selected Interest 8v
Exchange Rates
NAfeekly Series of Charts

NOVEMBER 15,1976

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 1 3 5 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 INDEXES
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 INDEXES




Chart 1

SPOT EXCHANGE RATES
DOLLAR PRICES OF FOREIGN CURRENCIES AND WEIGHTED AVERAGE VALUES (DASHED LINE)
AVERAGES FOR WEEK ENDING WEDNESDAY
—

100

CANADIAN DOLLAR
FOREIGN CURRENCY
PRICE OF U.S. DOLLAR

90

I

I

I
—
A\

JAPANESE YEN

FRENCH FRANC

7

J

v

|||||||||||

1 1 1 1 1 1 1

200

—

—

200 r -

160

-

.
/

140

GERMAN MARK
1

/V

SWISS FRANC J I
, y

'^ZxTZz^

—

/ U

'

1

1

L

_

1

1 1

- i L 7/
r-

11111 l l 1111

U

1

V

1

z-

V

— 160

. A V A /

7
/ \
A - / "
/
r

-J

160

„
-

/

./y

100

180

A

180

/
\/

/

140

/
;

-

120

11111111111

100

i
I

I

1

1

II111111111

DUTCH GUILDER
BELGIAN FRANC
1

S / v ,
—'

J

r\j

- / < y
100

-

1

1

W
1

1

|
1

1

" i i i Y i ii

1

120
U.K. POUND

f

"V^N

An

I

\
v

-

.
II

"

\

I

I

I

I




^

I .

_

I

\

\

V
I

i

-

VV
V

I

-

I T A L I A N LIRA

"

V

^

-

v
w

-

I

1

1

I

1
1974

1

IIIMIIIIM

lllllllllll
1976

Chart 2

3-MONTH FORWARD EXCHANGE RATES
PREMIUMS (+), OR DISCOUNT ( - )
AVERAGES FOR WEEK ENDING WEDNESDAY
;NT PER ANNUM

6
CANADIAN DOLLAR

0

6

PER CENT PER ANNUM

SWISS FRANC
0
/

Vx-

6
-

I

12

I

I

I

I

lllllllllll

I

111111

DUTCH GUILDER
12
GERMAN MARK

6

0

6
I

I

I

I

I

I

I

6
FRENCH FRANC

—

0

6




_LJL

_L_L
~

JAPANESE YEN
2 per cent on scale equals
1 per cent on all others

/

:i i i ;I i

I

1974

r Y

I

lllllllllll
1976

Chart 3

PRICE OF GOLD IN LONDON
AVERAGES FOR WEEK ENDING WEDNESDAY

210

12.5 Kg BARS
Afternoon fixing price




180

150

120

90

60

30
1974

1976

Chart 4

CALL MONEY RATES
WEEKLY SERIES

PER CENT

15 f— OVERNIGHT

EURO-DOLLARS

JAPAN

10

5

U.S. FEDERAL FUNDS

0
20

20
U.K. 2 - D A Y LOCAL AUTHORITY

FRANCE

15

10

5

0
15

15
NETHERLANDS

10

CANADA

5

0
20

20
EURO-SWISS FRANC

15
GERMANY
10

5

0

EURO-DM

5
1974




1976

1974

1976

Chart 5

3-MONTH INTEREST RATES
WEEKLY SERIES

12

UNITED STATES CD's

CANADIAN FINANCE CO. PAPER

8

4

16

U.K. INTERBANK
STERLING

GERMAN INTERBANK RATE

12

8

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

16
OVERNIGHT

3-MONTH

12

8

4
16

16
6-MONTH

7-DAY

12

8

16

16
1-MONTH

1-YEAR

12

8

4
1974




1976

1974

1976

Chart 7

SELECTED EURO-DOLLAR AND U.S. MONEY MARKET RATES
AVERAGES FOR WEEK ENDING WEDNESDAY
PER CENT

15
3-MONTH
Euro-dollar deposits
FEDERAL FUNDS

10

OVERNIGHT
Euro-dollar deposits

5

90 DAY CD's

0
DIFFERENTIAL
Adjusted for reserve requirements

DIFFERENTIAL
Adjusted for reserve requirements

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
PER CENT PER AF

:ENT PER ANNUM

20
INTERBANK DM
Covered Frankfurt

INTERBANK STERLING
Covered London

15

EURO-DOLLAR
DEPOSITS
10

EURO-DOLLAR
DEPOSITS

5

0

DIFFERENTIAL
DIFFERENTIAL

5

V7

v
10

CANADIAN FINANCE CO. PAPER, COVERED

EURO-DOLLAR DEPOSITS

15

SWISS DEPOSITS (SF)
COVERED
10

5

U.S. COMMERCIAL PAPER

0
DIFFERENTIAL




DIFFERENTIAL
/
I I I llllllllllllll
1974

5

\\

Chart 9

LONG-TERM GOVERNMENT BOND YIELDS
WEEKLY SERIES

9

CANADA
UNITED STATES

7

5
12
, JAPAN
\ Industrial

10

8

SWITZERLAND

GERMANY

6
14

12

18
UNITED KINGDOM
FRANCE

10

8
NETHERLANDS
6

12

12
U.S. CORPORATE
Monthly

10

U S. CORPORATE
Monthly

Aaa bonds

8

Euro-dollar bonds

Euro-Dm bonds

6
1974




1976

1974

1976

Chart 10

INDUSTRIAL STOCK INDEXES
WEEKLY SERIES
1969=100

180

UNITED STATES
100

60
45
140

400
300

UNITED KINGDOM
JAPAN

200
60

35

100

140

240
180

100

SWITZERLAND
CANADA

60

100

60

35

180

180
FRANCE
General Index

100


1974


100

GERMANY

60
45
1976

1974

1976

v>

SERIES NAME

LAST VALUE PLOTTED
DATE
VALUE

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
I T A L I A N LIRA
CHART 2 .

NOV.
NOV.
NOV.
NOV.
NOV.
NOV.
NOV.
NOV.
NOV.
NOV.

10
10
10
10

10

10
10
10
10
10

91.15

122.22

151.37
143.32
67.72
110.96
111.41
179.08
134.63
72.22

3—MONTH FORWARD EXCHANGE RATES

CANADIAN DOLLAR
U . K . POUND
GERMAN MARK
FRENCH FRANC
SWISS FRANC
DUTCH GUILDER
JAPANESE YEN

10
10
10
10

-4.05
-10.53
0.99
-7.26
3.16
-3.34
-0.49

NOV. 10

129.86

NOV.
NOV.
NOV.
NOV.
NOV.
NOV.
NOV.

10
10

10

CHART 3 . GOLD PRICE I N LONDON
U . S . DOLLAR PER FINE OUNCE
CHART 4 . 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

NOV.
NOV.
NOV.
NOV.
NOV.
OCT.
NOV.
NOV.
NOV.
OCT.

10
10
12
5
12
29
12
12
5
29

4.98
5.02
14.63
9.20
3.40
2.99
6.75
10.31
8.82
3.11

NOV.
NOV.
SEPT.
NOV.
NOV.
NOV.
NOV.

10
10

5.00
4.56
8.21
5.31
9.38
14.81
4.50

CHART 5 . 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




10
10
10
10

SERIES NAME
CHART 6 .

LAST VALUE PLOTTED
DATE
VALUE

EURO-DOLLAR DEPOSIT RATES: LONDON
10
10
10
10
10
10

5.02
4.83
4.94
5.31
5.73
6.05

10
10
10
10
10
10

5.02
4.98
0.25
5.31
5.00
0.21

EURO-DOLLAR DEPOSIT
INTERBANK STERLING (LONDON), COVERED
DIFFERENTIAL

NOV. 10
NOV. 10
NOV. 10

5.31
4.29
1.03

U . S . COMMERCIAL PAPER
CANADIAN FINANCE CO. PAPER, COVERED
DIFFERENTIAL

NOV. 10
NOV. 10
NOV. 10

5.08
5.33
-0.25

EURO-DOLLAR DEPOSIT
INTERBANK DM (FRANKFURT), COVERED
DIFFERENTIAL

NOV. 10
NOV. 10
NOV. 10

5.31
5.55
-0.24

EURO-DOLLAR DEPOSIT
SWISS DEPOSIT ( S F ) , COVERED
DIFFERENTIAL

NOV.
NOV.
NOV.

5.31
7.66
-2.35

OVERNIGHT
7-DAY
1-MONTH
3-MONTH
6-MONTH
1-YEAR
CHART 7 .

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 . CD'S ( 6 0 - 8 9 DAYS)
DIFFERENTIAL A D J . FOR RESERVE REQUIREMENTS
CHART 8 .

NOV.
NOV.
NOV.
NOV.
NOV.
NOV.

NOV.
NOV.
NOV.
NOV.
NOV.
NOV.

INTEREST ARBITRAGE, 3-MONTH FUNDS




10
10
10

\£;
SERIES NAME
CHART 9 .

LONG TERM GOVERNMENT BOND YIELDS

UNITED STATES
GERMANY
JAPAN (MONTHLY)
SWITZERLAND
CANADA
FRANCE
NETHERLANDS
UNITED KINGDOM
U.S.

LAST VALUE PLOTTED
DATE
VALUE

NOV.
5
NOV.
5
AUG.
5
NOV.
NOV.
5
OCT. 22
NOV.
5
NOV.
5

7,40
7.54
8.72
4.51
9.09
10.54
8.20
14.83

CORPORATE

AAA BONDS
EURO—DM BONDS
EURO-DOLLAR BONDS

SEPT.
SEPT.
SEPT.

8.38
7.31
8.00

CHART 1 0 . INDUSTRIAL STOCK INDEXES
UNITED STATES
JAPAN
CANADA
FRANCE
UNITED KINGDOM
SWITZERLAND
GERMANY




NOV.
OCT.
OCT.
OCT.
OCT.
NOV.
OCT.

5
29
29
22
29
5
29

106 . 5 3
231 .65
92 .99
90 . 3 1
65 . 9 1
67 .26
86.27

:h^*»

, g f c - .

F

E

D

E

R

A

L

H.10

-*.

s t a t i s t i c a l

R E S E R V E

NOVEMBER 1 6 ,

FOREIGN EXCHANGE RATES
FOR THE WEEK ENDING

NOVEMBER 1 2 ,

r e l e a s e

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 AFRICA
SPAIN
S R I LANKA
SWEDEN
SWITZERLAND
UNITED KINGDOM




MONETARY
UNIT

NOV.

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

122.7400
5.82000
2.697*0
102.7600
16.9300
25.9900
20.0700
41.430d
11.0500
161.5500
0.11560
0.34040
39.5100
4.0300
39.6900
95.4200
18.9000
3.1800
114.8500
1.4630
11.4500
23.5900
40.9800
161.5500

8

NOV.

9

(RATE U . S . CENTS)
NOV. 10

122.8800
5.82000
2.68600
102.7400
16.8800
26.0200
20.0600
41.3600
11.0500
162.8200
0.11550
0.33980
39.5400
4.0300
39.5500
95.3900
18.8600
3.1800
114.8500
1.4628
11.4500
23.5800
40.9400
162.8200

122.6600
5.82000
2.69300
102.4400
16.8900
26.0100
20.0500
4 1 . 3 900
11.0500
163.3300
0.11540
0.33970
39.5600
4.0700
39.5500
95.8300
18.6200
3.1800
114.8500
1.4628
11.4500
23.6100
41.0000
163.3300

NOV. 1 1

H
0
L
I
D
A
Y

NOV. 12
122.8100
5.82000
2.69700
102.3100
16.9300
26.2100
20.0600
41.4200
11.1000
162.8000
0.11550
0.33940
39.5000
4.0400
39 . 5500
95.6500
18.9100
3.1700
114.9500
1.4620
11.4500
23.6500
40.9500
162.8000
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