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5-HHO 4% Selected Interest & Exchange Rates Weekly Series of Charts - October 23, 1978 Prepared by the FINANCIAL MARKETS SECTION DIVISION OF INTERNATIONAL FINANCE BOARD OF GOVERNORS FEDERAL RESERVE SYSTEM Washington, D C 20551 Table of Contents TABLES 1. LATEST FIGURES PLOTTED 2. DAILY CERTIFIED SPOT EXCHANGE RATESH.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 8. 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 RATIO SCALE MARCH 1 9 7 3 = 1 0 0 RATIO SCALE MARCH 1 9 7 3 = 1 0 0 120 120 100 100 I FOREIGN CURRENCY PRICE OF U.S. DOLLAR - CANADIAN DOLLAR 80 - " I I 80 I 160 120 — FRENCH FRANC 140 GERMAN MARK - 100 120 100 - I 1 1 1 I I I I 80 I I | I I | I I | I ] 11111111117 220 150 130 Jr—' - JAPANESE YEN A SWISS FRANC /J 110 tfvW - 90 180 ft A J - 160 - 140 - 120 . I i i i i i i u i i i I I I I I I I l l l l l l l l l l 150 DUTCH GUILDER - BELGIAN FRANC J ~~ 130 110 - I I I I I I 90 I 110 U.K. POUND - » ITALIAN LIRA ,- - I 1976 1978 I 90 70 50 I 1976 1978 CHART 2 3-MONTH FORWARD EXCHANGE RATES r PREMIUM <+) OR ( - ) AVERAGES FOR WEEK ENDING WEDNESDAY PER CENT PER ANNUM 6 r PER CENT PER ANNUI ITALIAN LIRA CANADIAN DOLLAR Yv - I I I I I I i i i r ^ _ 24 II I I I I I I I I I 48 - 6 - - DUTCH GUILDER - U. K. POUND Ayw A I VAA\. - 12 12 18 I I I 1 1 1 12 GERMAN MARK - . ^ L 1 1 1 SWISS FRANC / 6 - 1 1 1 A l l ii l i i h i l i i A A 1AY/4 f - n f t l H l n . . I n h . I n |L / - 0 ~ FRENCH FRANC — JAPANESE YEN — J V 12 I II 1 1976 1978 1 1 ! 1 1976 1 1 1 1 1 1 1 1 1 1 1 1 1978 CHART 3 PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY J.S. DOLLARS PER FINE OUNCE U.S. DOLLARS PER FINE OUNCE >40 — 240 220 220 200 200 180 180 12.5 Kg BARS AFTERNOON FIXING PRICE 160 160 140 140 120 120 100 100 1975 # 1976 1977 1978 .HAP' CALL MONEY RATES WEEKLY SERIES PER CENT PER ANNUM PER CENT PER ANNUM - 12 U.S. FEDERAL FUNDS JAPAN OVERNIGHT EURO-DOLLARS 0 16 FRANCE 12 U.K. 2 - D A Y LOCAL AUTHORITY 4 - 12 NETHERLANDS CANADA 8 4 0 - - I I I I I I 11111111111 11111111111 EURO-SWISS FRANC GERMANY EURO-DM 1976 1978 1976 1978 12 CHART 5 3-MONTH INTEREST RATES WEEKLY SERIES PER CENT PER ANI ENT PER ANNUM 12 CANADIAN FINANCE CO. PAPER WEIGHTED AVERAGE FOREIGN RATE 8 U. S. CD S 4 16 V 12 JAPANESE BANK LOANS AND DISCOUNTS ~ 8 U.K. INTERBANK STERLING 4 SWISS INTERBANK RATE 4 — 1 GERMAN INTERBANK RATE + 0 A — 1 1 1 1976 1978 1976 1978 CHART 6 . EURO-DOLLAR DEPOSIT RATES LONDON AVERAGES FOR WEEK ENDING WEDNESDAY PER CENT PER ANNUM PER CENT PER ANNUM OVERNIGHT 3-MONTH / " - I I I 6-MONTH 7-DAY J - - 1-YEAR 1-MONTH 1976 1978 1976 1978 4 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 EURO-DOLLAR DEPOSITS 90-DAY CD*S DASHED LINE DIFFERENTIAL ADJUSTED I FOR 1 1976 FAVORS BORROWING IN U. S. IF POSITIVE DIFFERENTIAL RESERVE REQUIREMENTS ADJUSTED I I I I I I I I I I I I FOR RESERVE REQUIREMENTS I I I I I I I I I I I I I I 1978 1976 1978 2 CHART 8 INTEREST ARBITRAGE: 3-MONTH FUNDS DIFFERENTIAL: PLUSC+), INDICATES FAVOR DOLLAR ASSETS AVERAGES FOR WEEK ENDING WEDNESDAY ENT PER ANNUM PER CENT PER M 10 EURO-DOLLAR DEPOSITS 8 INTERBANK INTERBANK STERLING COVERED FRANKFURT COVERED LONDON 6 4 EURO-DOLLAR DEPOSITS DASHED LINE , 2 DIFFERENTIAL + 0 DIFFERENTIAL 2 l l l l l l l l l l l 11111111 i 10 CANADIAN FINANCE CO. PAPER, COVERED EURO-DOLLAR DEPOSITS 8 6 4 U.S. COMMERCIAL PAPER SWISS INTERBANK (SF) COVERED DASHED LINE DASHED LINE 2 DIFFERENTIAL DIFFERENTIAL + 0 2 1111111111111 I 11 I 11111 I 1976 1978 1111111111111111111111 1976 1978 CHART 9 LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES PER PER CENT PER AF ENT PER ANNUM 9 10 CANADA UNITED STATES - A / 8 7 - l 5 l I l I I 6 8 10 JAPAN INDUSTRIAL - ^ \ - SWITZERLAND 6 8 4 6 l GERMANY l l I I I iilnhilii nliilnlii 18 • n l i i l n l i i . n 111111111 4 2 13 UNITED KINGDOM 16 FRANCE 11 14 9 12 7 NETHERLANDS 10 5 11 U. S. CORPORATE 8 MONTHLY U. S. 9 A / X EURO-DOLLAR CORPORATE MONTHLY 9 BONDS Aaa BONDS 7 7 > E U R O - D M BONDS 5 5 1976 1978 1976 1978 CHART 10 INDUSTRIAL STOCK INDEXES WEEKLY SERIES iCALE DO RATIO UNITED STATES UNITED KINGDOM JAPAN 160 mm 140 120 CANADA 100 SWITZERLAND 80 60 140 120 FRANCE GENFRAI INDEX GERMANY 100 80 60 1976 1978 1976 1978 SERIES NAME CHART 1 . LAST VALUE PLOTTED DATE VALUE SPOT EXCHANGE RATES AND INDICES WEEKLY AVERAGES« NOON BUYING RATES ( U . S . CENTS) 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. 18 18 18 18 18 18 18 18 18 53.99 0.54300 49.44 199.03 84.48 23.55 65.69 3.41754 0.12263 OCT. OCT. OCT. OCT. OCT. OCT. OCT. OCT. OCT. 18 18 18 18 18 18 18 18 18 151.88 142.17 141.92 80.50 84.20 106.12 211.32 134.67 69.66 18 18 18 18 18 18 18 18 18 16 86.59 143.95 130.61 128.82 69.46 73.53 94.17 192.15 121.41 59.98 18 18 18 18 18 18 18 18 0,,15 —3«.15 6 . ,84 0..18 10..97 - 1 . .26 7 . .04 —5 .20 < 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 1 9 7 3 = 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 CHART 3 . GOLD PRICE IN LONDON U . S . DOLLARS PER FINE OUNCE CHART 4 . LAST VALUE PLOTTED DATE VALUE OCT. 18 226.04 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. OCT. OCT. OCT. OCT. OCT. SEPT. OCT. 18 18 13 13 13 13 13 13 22 13 8.78 8.96 9.00 8.66 3.15 3.39 4.13 7.00 4.94 0.13 OCT. OCT. OCT. OCT. OCT. OCT. OCT. 18 18 18 18 18 18 18 9.38 3.88 4.45 6.02 9.64 10.56 0.15 OCT. OCT. OCT. OCT. OCT. OCT. 18 18 18 18 18 18 8.96 9.01 9.24 9.89 10.13 10.13 18 18 18 18 18 18 8.96 8.78 0.18 9.89 9.38 ~Q« 09 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 C D ' 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 EURO-DOLLAR DEPOSIT INTERBANK STERLING (LONDON), COVERED DIFFERENTIAL OCT. 18 OCT. 18 OCT. 18 9.89 7.41 2.48 U . S . COMMERCIAL PAPER CANADIAN FINANCE PAPER, COVERED DIFFERENTIAL OCT. 18 OCT. 18 OCT. 18 8.97 9.79 -0.82 EURO-DOLLAR DEPOSIT INTERBANK DM (FRANKFURT), COVERED DIFFERENTIAL OCT. 18 OCT. 18 OCT. 18 9.89 10.72 -0.84 EURO-DOLLAR DEPOSIT SWISS INTERBANK, COVERED DIFFERENTIAL OCT. 18 OCT. 18 OCT. 18 11.12 CHART 9 . 9.89 -1.24 LONG TERM GOVERMENT BOND YIELDS UNITED STATES GERMANY JAPAN (MONTHLY) SWITZERLAND CANADA FRANCE NETHERLANDS UNITED KINGDOM OCT. OCT. SEPT. SEPT. OCT. SEPT. SEPT. OCT. 13 6 29 13 29 22 6 8.54 5.97 6.19 3.25 9.18 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 OCT. SEPT. SEPT. SEPT. OCT. OCT. OCT. 13 29 22 29 13 13 6 108.52 285.88 106.06 130.75 118.20 66.88 108.40 • .#&. • • • FEDERAL H . 10 • • RESERVE • statistical OCTOBER 2 0 , release OCTOBER 2 4 , FOREIGN EXCHANGE RATES FOR THE WEEK ENDING • . 4 1978 1976 The Board of Governors of the Federal Reserve System is advised that the Federal Reserve Bank of New York has c e r t i f i e d for customs purposes the f o l l o w i n g noon b u y i n g rate in New York C i t y for c a b l e transfers payable in f o r e i g n c u r r e n c i e s : COUNTRY MONETARY UNIT OCT. 16 OCT. 17 AUSTRALIA AUSTRIA BELGIUM CANADA DENMARK FINLAND FRANCE GERMANY INDIA IRELAND ITALY JAPAN MALAYSIA MEXICO NETHERLANDS NEW ZEALAND NORWAY PORTUGAL SOUTH AFRICA SPAIN SRI LANKA SWEDEN SWITZERLAND UNITED KINGDOM DOLLAR SCHILLING FRANC DOLLAR KRONE MARKKA FRANC D . MARK RUPEE POUND LIRA YEN DOLLAR PESO GUI LDER DOLLAR KRONE ESCUDO RAND PESETA RUPEE KRONA FRANC POUND 116.7000 7.36648 3.40948 84.5400 19.3611 25.1921 23.5239 53.9957 12 . 7 0 0 0 198.9000 0.12225 0.54392 45.5500 4.3874 49.2611 107.0000 20.2388 2.2222 115.0000 1.4168 6.3700 23.1241 65.7895 198.9000 116.8700 7.41290 3.43053 84.6300 19.5008 25.3646 23.5571 54.4158 12.7000 199.6000 0.12262 0.54870 46.0200 4.3864 49.5295 107.4000 20.3066 2.2272 115.0000 1.4327 6.3700 23.2802 66.1157 199.6000 (RATE U . S . CENTS) OCT. 18 117.1500 7.45712 3.45185 84.5600 19.5676 25.4485 23.7417 54.4662 12.7000 199.5500 0.12296 0.54855 46.1600 4.3879 49.8753 107.2000 20.2901 2.2371 115.0000 1.4349 6.3700 23.3345 66.2471 199.5500 OCT. 19 OCT. 20 116.7400 7.39098 3.44709 84.3800 19.5160 25.4485 23.6546 54.4662 12.7000 199.3500 0.12261 0.54570 46.2600 4.3860 49.8753 107.0000 20.2450 2.1786 115.0000 1.4294 6.3700 23.2666 65.3595 199.3500 117.1500 7.55715 3.49040 84.2000 19.8137 2 5 . 5 363 23.8521 55.3097 12.5500 200.0000 0.12332 0.55006 46.5500 4.3860 50.5561 107.5000 20.4248 2.2346 115.0000 1.4453 6.3700 23.4852 66.0066 200.0000
@FedFRASER