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C5«g3fffe/"c oc i •=.? :; i Selected Interest & Exchange Rates \Afed<ly Series of Charts OCTOBER 7,1974 Prepared by the FINANCIAL MARKETS SECTION DIVISION OF INTERNATIONAL FINANCE OARD OF GOVERNORS k k M R A L RESERVE SYSTEM" Washington, D C. 20551 Table of Contents CHARTS TABLES 1. SPOT EXCHANGE RATE INDEXES 1. LATEST FIGURES PLOTTED 2. 3-MONTH FORWARD EXCHANGE RATES 2. DAILY CERTIFIED SPOT EXCHANGE RATES-H.10 RELEASE 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 INDEXES Chart 1 SPOT EXCHANGE RATES INDEXES OF DOLLAR PRICES OF FOREIGN CURRENCIES AVERAGES FOR WEEK ENDING WEDNESDAY 120 CANADIAN DOLLAR FOR E I G N J J U R R E N C Y PRICE O F U.S. D O L L A R Weighted average 1 T M I I 100 I _ L L JAPANESE YEN - FRENCH FRANC 140 i/X 120 100 1 1 1 1 1 1 l l l l l l l l l l i l 1 1 1 1 1 Illlllllill mImImIm 180 GERMAN MARK SWISS F R A N C 160 140 - 120 100 1 DUTCH GUILDER 1 1 1 1 1 Illlllllill 160 - BELGIAN FRANC ' 140 120 > 100 1 I 1 II I I I 1 I l l l 1 1 mImImIm 120 ITA L I A N L I R A U.K. POUND 1 100 - 1 1 1 1 1 1 80 Chart 2 . .. < 3-MONTH F O R W A M ^ C H A N C ^ RATES PREMIUM (+), OR DISCOUNT ( - ) AVERAGES FOR WEEK ENDING WEDNESDAY ) 6 CANADIAN DOLLAR 0 6 6 U.K. POUND SWISS FRANC GERMAN MARK DUTCH GUILDER 0 6 12 12 12 6 0 6 12 |— FRENCH FRANC JAPANESE YEN | _ 2 per cent on scale equals 1 per cent on all others 6 0 6 24 12 1972 1974 1972 1974 Chart 3 PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY 5 US. DOLLARS PER FINE OUNCE 200 12.5 Kg BARS Afternoon fixing price 6 Chart 4 CALL MONEY RATES WEEKLY SERIES Kit CENT PEA ANNUM 15 10 I OVERNIGHT EURO-DOLLARS JAPAN 5 U.S. FEDERAL FUNDS 0 20 20 15 U.K. 2 - D A Y LOCAL AUTHORITY FRANCE 10 5 0 15 15 10 NETHERLANDS CANADA 5 0 20 20 EURO-SWISS FRANC 15 10 GERMANY 5 0 EURO-DM 5 1972 1974 1972 1974 Chart 5 3-MONTH INTEREST RATES WEEKLY SERIES tot 18 ANNUM PER CENT PER 12 UNITED STATES CD's CANADIAN FINANCE CO. PAPER • a 8 4 4 20 20 U.K. INTERBANK STERLING GERMAN INTERBANK RATE 16 16 12 12 a 8 1 4 4 16 12 EURO-DOLLAR 12 8 SWISS DEPOSIT RATE 4 8 JAPAN Monthly 0 4 1872 1974 1872 1974 EURO-DOLLAR DEPOSIT RATES London AVERAGES FOR WEEK ENDING WEDNESDAY PER CENT PER ANNUM * * * COIT FE* A N M M OVERNIGHT 3-MONTH 7-DAY 6-MONTH 1-MONTH 1-YEAR * 16 12 8 4 tt 18 12 8 4 1872 1974 1872 Chart 7 SELECTED EURO-DOLLAR AND U S . MONEY MARKET RATES AVERAGES FOR WEEK ENDING WEDNESDAY PER CENT PER ANNUM FEDERAL FUNDS 3-MONTH Euro dollar deposits OVERNIGHT Euro-dollar deposits 6 0 - 8 9 D A Y CD's DIFFERENTIAL Adjusted for reserve requirements DIFFERENTIAL Ad usted for reserve requirements 1 1972 Favors Borrowing in U.S. if Positive 1971 1972 1974 \o Chart 8 INTEREST ARBITRAGE: 3-MONTH FUNDS AVERAGES FOR WEEK ENDING WEDNESDAY DIFFERENTIAL: PLUS (+}, INDICATES FAVOR DOLLAR ASSETS 20 20 INTERBANK DM, COVERED Frankfurt 15 EURO-DOLLAR DEPOSITS 10 5 EURO-DOLLAR DEPOSITS INTERBANK STERLING ' v s COVERED London 0 fA DIFFERENTIAL 5 W f 10 DIFFERENTIAL 20 20 15 EURO-DOLLAR DEPOSITS CANADIAN FINANCE CO. PAPER, COVERED 10 5 U.S. COMMERCIAL PAPER SWISS DEPOSITS (SF), COVERED 0 --fly DIFFERENTIAL DIFFERENTIAL 5 1972 JLL 1974 1972 1974 Chart 9 \ LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES ENT PER ANNUM PER CENT PER /" 10 UNITED STATES CANADA 8 l l 1 1 1 6 l l 12 GERMANY FRANCE 10 / 8 JAPAN Industrial NETHERLANDS 11111111111 6 18 UNITED KINGDOM 14 SWITZERLAND 12 10 12 „ U.S. CORPORATE Monthly _ U.S. CORPORATE Monthly - Euro—Dm bonds — ^ Euro—dollar bonds Aaa bonds I I I I I I liiliilnlii - ; i i i i i n r - / 1111M11111 — ~ 10 8 8 Chart 10 INDUSTRIAL STOCK INDEXES WEEKLY SERIES 1968=100 240 180 UNITED STATES 100 320 240 160 UNITED KINGDOM 120 JAPAN 160 80 80 40 200 200 150 150 CANADA SWITZERLAND 100 100 50 240 240 180 180 FRANCE General index GERMANY 100 100 60 1972 1974 1972 1974 TABLE 1 LAST FIGURE PLOTTED SERIES NAME Chart 1. 11 " " " " " 84.89 121.00 137.90 133.90 97.10 109.80 116.90 127.40 94.50 Oct. 2 " 11 " " 11 " 0.494 -3.200 2.360 -5.554 1.464 2.240 -1.550 Oct. 2 150.43 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 * 5. 11 Gold Price in London U.S. Dollars per fine ounce 4. Oct. 2 " 3-Month Forward Exchange Rates Canadian Dollar U.K. Pound German Mark French Franc Swiss Franc Dutch Guilder Japanese Yen 3. VALUE Spot Exchange Rates U.S. Dollar, Weighted Average Japanese Yen German Mark Dutch Guilder U.K. Pound Canadian Dollar French Franc Belgian Franc Italian Lira 2. DATE Oct. 2 '' " 11 11 " " " " 11.040 11.350 11.500 " 8.850 9.000 9.353 13.000 13.375 1.050 2.656 3-Month Interest Rates U.S. CD's (60-89 day) German Interbank Loan Japanese Composite Loan Euro-dollar Deposit Canadian Finance Company Paper Interbank Sterling Swiss Deposit Oct. 2 " .July 31 Oct. 2 " 11 Aug. 9 10.130 9.480 9.240 12.038 11.250 11.713 7.000 VI - 2 - LAST FIGURE PLOTTED SERIES NAME 6. Euro-Dollar Deposit Rates: DATE London Overnight Euro-dollar deposits 7-Day Euro-dollar deposit rate 1-Month Euro-dollar deposit rate 3-Month Euro-dollar deposit rate 6-Month Euro-dollar deposit rate 1-Year Euro-dollar deposit rate 7. Oct. 2 " " 11 11 " 11.350 11.525 11.663 12.038 12.113 11.850 Selected Euro-Dollar and U.S. Money Market Rates Overnight Euro-dollar deposits U.S. Federal Funds Differential Adj. for Reserve Requirements 3-Month Euro-dollar deposit rate U.S. CD's (60-89 day) Differential Adj. for Reserve Requirements 8. VALUE Oct. 2 " 11 11 " " 11.35 11.04 1.30 12.04 10.13 2.08 Interest Arbitrage - 3-Month Funds Euro-dollar deposit Interbank Sterling (London), Covered Differential Oct. 2 " 11 U.S. commercial paper (90-119 day) Canadian finance co. paper, covered Differential Euro-dollar deposit Interbank DM (Frankfurt), covered Differential Euro-dollar deposit Swiss deposit rate (SF), covered Differential " " 10.500 11.744 -1.244 " " " 12.038 11.840 0.198 " 12.038 1.464 10.574 11 * 12.038 8.513 3.525 11 " I LAST FIGURE PLOTTED SERIES NAME 9. VALUE Long Term Bond Yields United States Germany Japan (monthly) Switzerland Canada France Netherlands United Kingdom U.S. Corporate • AAA Bonds Euro-DM Bonds Euro-Dollar Bonds 10. DATE Sept. 27 Sept. 20 Aug. 30 Sept. 27 Sept. 13 Sept. 27 Aug. 30 7.940 10.740 10.184 7.360 9.670 11.060 9.480 15.000 9.00 9.37 10.06 Industrial Stock Indexes United States Japan Canada France United Kingdom Switzerland Germany Sept. 27 Sept. 20 Sept. 13 Aug. 30 Sept. 13 Sept. 27 Sept. 20 70.335 189.970 87.293 90.700 50.905 56.570 73.739 FEDERAL RESERVE H.IO OCTOBER ?, 1974 FOREIGN EXCHANGE RATES FOR THE WEEK ENDING OCTOBER 4, 1974 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 SRI LANKA 11) SWEDEN SWITZERLAND UNITED KINGDOM 11) MONETARY UNIT SEP. 30 OCT. 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 131.0000# 5.31000 2.5450C* 101.4300 16.3300 26.1600 21.0000 37.6700 12.4000 233.2500 0.15140 0.33520 41.2800 8.0000 37.0000 129.800# 18.0600 3.6600 142.7500 1.7360 14.8000 22.4000 33.9000 233.2500 131.25061 5.32000 2.55500 101.540ft 16.360# 26.1700 21.1600 37.8000 12.4000 233.6200 0.15140 0.33540 41.4500 8.0000 37.0700 129.8000 18.0900 3.b800 142.7500 1.7395 14.8000 22.4900 34.0006) 233.6200 1 IRATE U.S. CENTS) OCT. 2 SRI LANKA PREVIOUSLY KNOWN AS CEYLON 131.2500 5.32000 2.55150 101.6000 16.330®# 26.150(6# 21.0300 37.7700 12.4500 233.3500 0.15110 0.33560 41.3700 8.0000 37.0600 129.8000 18.0700 3.8800 142.7500 1.7390 14.8000 22.4800, 3 3 . 8 8 00233.3500 OCT. 3 130.2500 5.32000 2.55600 101.5800 16.3600 26.1300 21.0700 37.9400 12.4500 232.7000 0.15080 0.33440 41.4000 8.0®00 37.2100 129.509® 18.1800 3.8600 142.750& 1.7350 14.8000 22.59081 . 33.9800 232.7000 OCT. 4 131.4006 5.340&& 2.58050 101.5700 16.5000 26.1600 21.0400 38.2200 12.450® 233.5000 0.15060 0.33440 41.4500 e.oaoo 37.3600 129.5000 18.380(& 3.90<M> 142.750& 1.7375 14.8000 22.74001 34.2000 233.5000
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