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5 - V V O Selected Interest & Exchange Rates Weekly Series of Charts October 16, 1978 DIVISION OF INTERNATIONAL FINANCE Prepared by the FINANCIAL MARKETS SECTION BOARD OF GOVERNORS FEDERAL RESERVE SYSTEM Washington, D C. 20551 e # • Table of Contents TABLES 1. LATEST FIGURES PLOTTED 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 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 1 SPOT EXCHANGE INDICES DOLLAR PRICES OF FOREIGN CURRENCIES AND WEIGHTED AVERAGE VALUES (THIN LINE) AVERAGES FOR WEEK ENDING WEDNESDAY CALE RATIO SCALE MARCH 19773=100 1973=100 120 100 FOREIGN CURRENCY PRICE OF U.S. DOLLAR CANADIAN DOLLAR 80 120 FRENCH FRANC GERMAN MARK 100 80 220 JAPANESE YEN SWISS FRANC Jf ~ 180 160 140 120 i i l i i l i i l n — • DUTCH GUILDER - 150 BELGIAN FRANC J ~ 130 110 90 110 U.K. POUND 90 ITALIAN LIRA 70 50 1976 1978 1976 1978 CHART 2 3-MONTH FORWARD EXCHANGE RATES PREMIUM (+) OR ( - ) AVERAGES FOR WEEK ENDING WEDNESDAY :ENT PER ANNUM PER CENT PER Ah 6 ITALIAN LIRA + CANADIAN DOLLAR 0 6 6 DUTCH GUILDER + 0 U. K. POUND 6 12 18 6 GERMAN MARK SWISS FRANC + 0 + 0 FRENCH FRANC — JAPANESE YEN J 6 - y 12 ; i 1976 1978 1976 J 1978 CHART 3 PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY U.S. DOLLARS PER FINE OUNCE U.S. DOLLARS PER FINE OUNCE 240 220 200 180 180 12.5 Kg BARS AFTERNOON FIXING PRICE 160 160 120 100 100 1975 1976 1977 1978 CHART 4 CALL MONEY RATES WEEKLY SERIES PER ENT PER ANNUM PER CENT PER. AL 12 U.S. FEDERAL FUNDS 8 4 - \jy JAPAN - l x OVERNIGHT EURO-DOLLARS - 0 I I -Vvv - I 16 FRANCE V 12 8 ^ / x A U.K. 2 - D A Y LOCAL AUTHORITY 4 - 0 12 CANADA NETHERLANDS 8 4 0 12 8 EURO-SWISS FRANC GERMANY 4 + 0 EURO-DM 4 1976 1978 1976 1978 CHART 5 3-MONTH INTEREST RATES WEEKLY SERIES PER CENT PER ANI PER ANNUM 12 CANADIAN FINANCE CO. PAPER WEIGHTED AVERAGE FOREIGN RATE 8 U.S. CD S 4 16 12 JAPANESE BANK LOANS AND DISCOUNTS 8 U.K. INTERBANK STERLING 4 SWISS INTERBANK RATE 4 - GERMAN INTERBANK RATE + j I I I I I 1976 0 — I 1978 1976 1978 CHART 6 EURO-DOLLAR DEPOSIT RATES LONDON AVERAGES FOR WEEK ENDING WEDNESDAY PER CENT PER ANNUM PER CENT PER A | U OVERNIGHT - I I I I I I , i l 11 l u l , , - 11111111111 6-MONTH 7-DAY 1-YEAR 1976 1978 1976 1978 CHART 7 SELECTED EURO-DOLLAR AND U. S. MONEY MARKET RATES AVERAGES FOR WEEK ENDING WEDNESDAY PER CENT PER ANNUM PER CENT PER ANNUM 10 - FEDERAL FUNDS DASHED LINE 3-MONTH E U R O - D O L L A R DEPOSITS OVERNIGHT E U R O - D O L L A R DEPOSITS 9 0 - D A Y CD S DASHED LINE DIFFERENTIAL ADJUSTED DIFFERENTIAL FOR RESERVE REQUIREMENTS ADJUSTED FOR RESERVE REQUIREMENTS I I I I I I I I I I I I I I I I I 1976 FAVORS BORROWING IN U. S. IF POSITIVE 1978 I I I I I I I 1976 1978 10 CHART 8 INTEREST ARBITRAGE: 3-MONTH FUNDS DIFFERENTIAL: PLUS(+), INDICATES FAVOR DOLLAR ASSETS AVERAGES FOR WEEK ENDING WEDNESDAY PER ENT PER ANNUM PER CENT PER Ah 10 EURO-DOLLAR DEPOSITS 8 u l INTERBANK DM 6 \ 4 EURO-DOLLAR DEPOSITS INTERBANK STERLING COVERED LONDON COVERED FRANKFURT DASHED LINE 2 DIFFERENTIAL + 0 DIFFERENTIAL II II M I I l l I 111llll1111 2 iiliilnliiliiliilnl 10 CANADIAN FINANCE CO. PAPER, COVERED EURO-DOLLAR DEPOSITS 8 6 4 U.S. COMMERCIAL PAPER SWISS INTERBANK (SF) COVERED DASHED LINE DASHED LINE DIFFERENTIAL DIFFERENTIAL 2 + AX\A/W\R 0 \ I I I I I ll I I I I I I I I III I I I I 2 1976 1978 l IIIII!III 1976 _il i. 1111, 1978 CHART 9 LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES PER CENT PER ANNUM R CENT PER ANNUM -JV\ I VI I I I 10 CANADA UNITED STATES - - I I I I I I I I 11 I I I h i l l i JAPAN INDUSTRIAL SWITZERLAND GERMANY UNITED KINGDOM FRANCE NETHERLANDS U. S. CORPORATE MONTHLY U. S. 9 - A / X EURO-DOLLAR CORPORATE MONTHLY BONDS Aaa BONDS EURO-DM BONDS J_L 1976 1978 1976 1978 8 6 CHART 10 INDUSTRIAL STOCK INDEXES WEEKLY SERIES RATIO >CALE 1969= DO RATIO S 196S 140 120 UNITED STATES 100 UNITED KINGDOM 80 60 I I I 11111111111 320 280 JAPAN 240 200 160 140 120 CANADA 100 SWITZERLAND - 80 zv - - - 60 140 120 FRANCE GENERAL INDEX GERMANY 100 — 80 - I 60 1976 1978 I 1976 I 1978 LAST VALUE PLOTTED DATE VALUE SERIES NAME CHART 1 . SPOT EXCHANGE RATES AND INDICES WEEKLY AVERAGES* NOON BUYING RATES ( U . S . CENTS I GERMAN MARK JAPANESE YEN DUTCH GUILDER U . K . POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC bELGlAN FRANC I T A L I A N LIRA INDICES* MARCH 1973 BASE RATES 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 OCT. OCT. OCT. OCT. OCT. OCT. OCT. OCT. OCT. 11 11 11 11 11 11 11 11 11 5 2 . a? 0.53374 48.67 190.46 84.51 23.32 63.54 3.35447 0.12216 OCT. OCT. OCT. OCT. OCT. OCT. OCT. OCT. OCT. 11 11 11 11 11 11 11 11 11 1 4 8 . 73 1 3 9 . 75 1 3 9 . 72 8 0 . 27 8 4 . 23 1 0 5 . 10 2 0 4 . 40 1 3 2 . 18 6 9 . 39 11 11 11 11 11 11 11 11 11 11 8 7 . • 70 142..08 129. .58 128. .05 7 0 .. 0 1 7 4 . . 36 9 4 , .20 187,.59 120. . 3 1 60..38 11 11 11 11 11 11 11 11 0 ..22 - 3 . .05 6 . .63 0 . .12 10..42 - 2 . .89 7..13 —5..20 100 GHTED 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 I T A L I A N LIRA CHART 2 . OCT. OCT. OCT. OCT. OCT. OCT. OCT. OCT. OCT. OCT. 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 OCT. OCT. OCT. OCT. OCT. OCT. OCT. OCT. SERIES NAME LAST VALUE PLOTTED DATE VALUE CHART 3 . GOLD PRICE I N LONDON U . S . DOLLARS PER FINE OUNCE OCT. 11 223.97 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 OCT. OCT. OCT. SEPT. OCT. OCT. OCT. OCT. SEPT. OCT. 11 11 6 29 6 6 6 6 22 6 8.71 0 . b9 6.25 9.05 3.40 3.20 4.25 7.00 4.94 —0.40 OCT. OCT. OCT. OCT. OCT. OCT. OCT. 11 11 11 11 11 11 11 9.13 3.97 4.50 6.19 9.36 10.00 0.27 OCT. OCT. OCT. OCT. OCT. OCT. 11 11 11 11 11 11 8.89 8.94 9.22 9.74 9.91 9.93 11 11 11 11 11 11 6.89 8.71 0.18 9.74 9.13 0.03 CHART 5 . 3-MONTH INTEREST RATES U . S . 90-DAY CD'S GERMAN INTERBANK LOAN JAPANESE BANK LOANS & DISCOUNTS WEIGHTED AVERAGE FOREIGN INTEREST RATE CANADIAN FINANCE PAPER INTERBANK STERLING SWISS INTERBANK LOAN 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 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 A D J . FOR RESERVE REQUIREMENTS OCT. OCT. OCT. OCT. OCT. OCT. SERIES NAME CHART 8 . LAST VALUE PLOTTED DATE VALUE INTEREST ARBITRAGE, 3-MONTH FUNDS cURO-DOLLAR DEPOSIT INTERBANK STERLING (LONDON), COVERED DIFFERENTIAL 9.74 6.95 2.79 OCT. OCT. 0CTe U . S . COMMERCIAL PAPER CANADIAN FINANCE PAPER, COVERED DIFFERENTIAL OCT. OCT. OCT. 8.83 9.58 -0.75 EURO-DOLLAR DEPOSIT INTERBANK DM (FRANKFURT), COVERED DIFFERENTIAL OCT. OCT. OCT. 9.74 -0.86 EURO-DOLLAR DEPOSIT SWISS INTERBANK, COVERED DIFFERENTIAL OCT. OCT. OCT. 9.74 10.70 —0*96 CHART 9 . 10.60 LONG TERM GOVERMENT BOND YIELDS UNITED STATES GERMANY JAPAN (MONTHLY) SWITZERLAND CANADA FRANCE NETHERLANDS UNITED KINGDOM OCT. SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. OCT. 6 29 29 29 29 22 6 8.58 5.99 6.19 3.25 9.15 10.01 7.62 11.52 U . S . CORPORATE AAA BONDS EURO-OM BONDS EURO-DOLLAR BONDS CHART 1 0 . SEPT. AUG. AUG. 8.78 6.69 8.12 INDUSTRIAL STOCK INDICES UNITED STATES JAPAN CANADA FRANCE UNITED KINGDOM SWITZERLAND GERMANY 6 OCT. 8 SEPT. SEPT. 22 S E P T . 15 6 OCT. 6 OCT. SEPT. 2 9 1 0 6 . 73 2 8 2 . 57 1 0 6 . 06 1 2 2 . 60 1 1 9 . 62 6 7 . 83 1 0 7 . 84 '"oO*SOw/.. FEDERAL RESERVE H . 10 statistical OCTOBER 1 3 , FOREIGN EXCHANGE RATES FOR THE WEEK ENDING OCTOBER 1 3 , release 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 MEXICO NETHERLANDS NEW ZEALAND NORWAY PORTUGAL SOUTH AFRICA SPAIN S R I LANKA SWEDEN SWITZERLAND UNITED KINGDOM MONETARY UNIT 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 I OCT. H 0 L I D A Y 9 OCT. 10 (RAl rE U . S . CENTS OCT. 1 1 115.9500 7.25*26 3.34672 84.4500 19.0259 25.0000 23.2666 52.8401 12.6300 198.3500 0.12203 0.53220 44.3900 4.3966 48.6618 106.3000 19.9005 2.2148 115.0000 1.3943 6.3700 22.8885 63.6132 198.3500 116.2500 7.32064 3.39559 84.3900 19.2567 25.0972 23.4329 53.4474 12.6300 199.2200 0.12270 0.53807 44.6400 4.3937 49.2611 106.8000 20.1511 2.2222 115.0000 1.4148 6.3700 23.0947 64.7459 199.2200 OCT. 12 OCT. 13 116.4500 7.39371 3.38754 84.2700 19.2289 25.2461 23.4384 53.3191 12.6500 198.5000 0.12255 0.53591 44.9200 4.3917 49.1763 106.8500 20.1106 2.2247 115.0000 1.4245 6.3700 23.0574 64.7668 198.5000 116.3000 7.40741 3.40832 84.4000 19.3536 25.3678 23.4880 53.7490 12.6500 196.6000 0.12277 0.53792 45.0,900 4^3937 49.3340 106.7000 20.2511 2.2222 115.0000 1.4241 6.3700 23.1589 65.5093 198.6000
@FedFRASER