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Selected Interest &
Exchange Rates
XAfeekly Series of Charts

SEPTEMBER 20,1976

DIVISION OF
INTERNATIONAL FINANCE

Prepared by the
FINANCIAL MARKETS
SECTION

BOARD OF GOVERNORS
FEDERAL RESERVE SYSTEM
Washington, D C. 20551




"/

Table of Contents
5
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 135 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
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 INDEXES




Chart 1

SPOT EXCHANGE RATES
D O L L A R PRICES OF FOREIGN CURRENCIES A N D W E I G H T E D A V E R A G E V A L U E S (DASHED LINE)
AVERAGES FOR WEEK ENDING W E D N E S D A Y
CANADIAN DOLLAR

100

FOREIGN CURRENCY
PRICE OF U.S. DOLLAR

90

V - x , , . / -

80
!

I

I

JAPANESE YEN

FRENCH FRANC

200
180

-

-

-

-

160

.

I

140

/ x

-

:

/

-rU 1
J
/
-J
'

1

SWISS FRANC

GERMAN MARK

1

MlnlMl,;

I I !
DUTCH GUILDER

BELGIAN FRANC

120
i

U.K. POUND
100

-

i
•

80

— X

I

\

-

ITALIAN LIRA

\

y

-

V /

^

ll
\\
I \

-

vC ~

-

'V

60

I

i

l

i

1

!

I I I I I I I I I I11111111111
I

1974




1976

I

I

I

I

I

I

3-MONTH FORWARD EXCHANGE RATES
PREMIUMS (+), OR DISCOUNT ( - )
AVERAGES FOR WEEK ENDING WEDNESDAY
6

CANADIAN DOLLAR
0

6

SWISS FRANC

U.K. POUND
0

6

12

DUTCH GUILDER
12

GERMAN MARK

6

0

6

6

FRENCH FRANC

_

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

0

6

12

1974




1976

1974

1976

Chart 3
PRICE OF G O L D IN L O N D O N
AVERAGES FOR WEEK ENDING WEDNESDAY

210
125 Kg BARS
Afternoon fixing price




120

60

30
1974

1976

Chart 4

CALL MONEY RATES
WEEKLY SERIES

OVERNIGHT EURO-DOLLARS
JAPAN

10

5

U.S. FEDERAL FUNDS

0
20
U.K. 2-DAY LOCAL AUTHORITY

FRANCE

15

10

15

NETHERLANDS
CANADA

5

0
20

20

,

EURO-SWISS FRANC

EURO-DM

1
1974




1976

1974

1976

1

Chart 5

3-MONTH INTEREST RATES
WEEKLY SERIES

12

UNITED STATES CD's

CANADIAN FINANCE CO. PAPER

8

4
Illllllllll

16

U.K. INTERBANK
STERLING

GERMAN INTERBANK RATE

12

8

.EURO—DOLLAR

SWISS DEPOSIT RATE

6

JAPAN
Monthly

1974




1976

1974

1976

Chart 6
EURO DOLLAR DEPOSIT RATES L o n d o n
AVERAGES FOR WEEK ENDING WEDNESDAY

16

3-MONTH

OVERNIGHT

12

8

4
16

16

6-MONTH

7-DAY

12

8

16

1-MONTH

1-YEAR

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

90 DAY CD's

5

0

DIFFERENTIAL
Adjusted for reserve requirements

DIFFERENTIAL
Adjusted for reserve requirements


Favors Borrowing in U.S. if


1974
Positive

1976

1974

1976

INTEREST ARBITRAGE: 3-MONTH FUNDS
AVERAGES FOR WEEK ENDING WEDNESDAY
DIFFERENTIAL: PLUS(+), INDICATES FAVOR DOLLAR ASSETS
PER CENT PER ANNUM

PER CENT PER ANNUM.

20
INTERBANK DM
Covered Frankfurt

INTERBANK STERLING
Covered London
EURO-DOLLAR
DEPOSITS

EURO-DOLLAR
DEPOSITS

DIFFERENTIAL

' ?

U

DIFFERENTIAL

Mill

15

~ CANADIAN FINANCE CO. PAPER, COVERED

EURO-DOLLAR DEPOSITS
SWISS DEPOSITS (SF)
COVERED

10

5

U.S. COMMERCIAL PAPER

0
DIFFERENTIAL

DIFFERENTIAL" V

5
1974




1976

1974

1976

Chart 9

LONG-TERM GOVERNMENT BOND YIELDS
WEEKLY SERIES

9

CANADA
UNITED STATES

7

5
12

^ JAPAN
\ Industrial

JO

8

SWITZERLAND

GERMANY

6
18

14

12

UNITED KINGDOM
FRANCE

10

8

NETHERLANDS
6

4
12

12

U.S. CORPORATE
Monthly
10

„

Aaa bonds

U S. CORPORATE
Monthly
,A

Euro-dollar bonds

3

Euro-Dm bonds
6
1974




1976

1974

1976

Chart 10
INDUSTRIAL STOCK INDEXES
WEEKLY SERIES
RATIO SCALE
1969=100

180

UNITED STATES
100

60
45
400
300

100

UNITED KINGDOM
JAPAN

100
140

240
180

SWITZERLAND

100

CANADA

60

100

60

35

180

180

FRANCE
General Index
100

GERMANY

100

60

60

45

45
1974




1976

1974

1976

•'

SERIES NAME
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 .

SEPT.
SEPT.
SEPT.
SEPT.
SEPT.
SEPT.
SEPT.
SEPT.
SEPT.
SEPT.

15
15
15
15
15
15
15
15
15
15

112.84
176.53
129.42
74.32

SEPT.
SEPT.
SEPT.
SEPT.
SEPT.
SEPT.
SEPT.

15
15
15
15
15
15
15

-3.88
-9.01
1.27
-5.11
4.32
-6.33
-0.46

S E P T . 15

112.99

90.17
125.68
146.21
138.42
72.69

110.81

3-MONTH FORWARD EXCHANGE RATES

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

LAST VALUE PLOTTED
DATE
VALUE

CHART 3 . GOLD PRICE I N LONDON
U.S.

DOLLAR PER FINE OUNCE

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
CHART 5 .

SEPT.
SEPT.
SEPT.
SEPT.
SEPT.
AUG.
SEPT.
SEPT.
JULY
AUG.

15
15
3
10
3
27
3
3
30
27

5.22
5.46
10.50
9.06
4.30
4.31
7.25
9.50
5.25
0.53

SEPT.
SEPT.
JULY
SEPT.
SEPT.
SEPT.
SEPT.

15
15

5.30
4.58
8.23
5.58
9.42
12.03
4.50

3-MONTH INTEREST RATES

U . S . C D ' S ( 6 0 - 8 9 DAYSI
GERMAN INTERBANK LOAN
JAPANESE COMPOSITE LOAN
EURO-DOLLAR DEPOSIT
CANADIAN FINANCE COMPANY PAPER
INTERBANK STERLING
SWISS DEPOSIT




15
15
15
8

LAST VALUE PLOTTED
DATE
VALUE

SERIES NAME

CHART 6 .

EURO-DOLLAR DEPOSIT RATES:

LONDON

.

;

.

SEPT.
SEPT.
SEPT.

SELECTED EURO-DOLLAR AND U . S .

INTEREST ARBITRAGE,

5.58
6.08
6.53

^

%

J

SEPT.
SEPT.
SEPT.
SEPT.
SEPT.
SEPT.

15
15
15
15
15
15

5.46
5.22

if.

5.30
0.17

3-MONTH FUNDS

EURO-DOLLAR DEPOSIT
INTERBANK STERLING ( L O N D O N ) , COVERED
DIFFERENTIAL

1 1 % : ' 15
S E P T . 15

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

S E % / 15
s
15
S E P T . 15

EURO-DOLLAR DEPOSIT
INTERBANK DM ( F R A N K F U R T ) , COVERED
DIFFERENTIAL

>5
,
S E P T . 15
5.85
SEPrT* .
. -0.28
"h;i
5.58
SEM. 1* !
SEPT.
8.82
SEPT.
: -3.24

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




V

%

MONEY MARKET RATES

OVERNIGHT EURO-DOLLAR DEPOSITS
U . S . FEDERAL FUNDS
D I F F E R E N T I A L A D J . FOR RESERVE REQUIREMENTS
3-MONTH EURO-DOLLAR DEPOSIT RATE
U . S . C D ' S ( 6 0 - 8 9 DAYS>
D I F F E R E N T I A L A D J . FOR RESERVE REQUIREMENTS

CHART 8 .

TBAHJ

1 ^ ; ,
15
15 :
/

CHART 7 .

I

ll:|y::: )

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

5.58
3.02
2.56
:

TS4r,3

5.38
5.54
-0.16

•2$US

.

SERIES NAME
CHART 9 .

LAST VALUE PLOTTED
DATE
VALUE

LONG TERM GOVERNMENT BOND YIELDS

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

SEPT.
AUG.
JULY
AUG.
SEPT.
AUG.
JULY
AUG.

10
27
27
10
20
30
27

7.65
8.00
8.76
4.99
9.14
10.31
8.94
14.07

U . S . CORPORATE
AAA BONDS
EURQ-DM BONDS
EURO-DOLLAR BONDS

AUG.
JULY
JULY

6.45
7.49
8.07

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




SEPT.
AUG.
AUG.
AUG.
AUG.
SEPT.
AUG.

3
27
27
27
27
3
27

106.09
235.28
101.21
100.31
83.85
68.86
92.81

FEDERAL

RESERVE

s t a t i s t i c a l

r e l e a s e

"•SSBw?
H.10

FOREIGN EXCHANGE RATES

SEPTEMBER 2 1 ,

1976

FOR THE WEEK ENDING SEPTEMBER 1 7 , 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
SRI LANKA
SWEDEN
SWITZERLAND
UNITED KINGDOM




MONETARY
UNIT

SEP. 13

SEP. 14

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

124.4200
5.61000
2.58800
102.5200
16.6000
25.7100
20.2800
39.8400
10.9500
174.8000
0.11890
0.34890
39.8100
5.0300
38.1500
99.2900
18.2900
3.2100
114.7500
1.4717
11.5000
22.8200
40.3300
174.8000

124.4000
5.62000
2.59200
102.5900
16.6300
25.7200
20.3000
39.9500
10.9500
173.9500
0.11880
0.34900
39.8100
5.0400
38.2600
99.2100
18.3200
3.2100
114.7500
1.4717
11.5000
22.8600
40.3400
173.9500

CRATE U . S . CENTS)
SEP. 15
124.3400
5.66000
2.60500
102. 5300
16.6700
25.7200
20.4300
40.2300
10.9500
173.4100
0.11900
0.34950
39.8200
5.0400
38.5700
99.0400
18.4100
3.2100
114.7500
1.4732
11.5000
22.9900
40.4900
173.4100

SEP. 16

SEP. 17

124.5100
5 .66000
2.60230
102.3400
16.7300
25.8200
20.4700
40.3100
10.9500
173.9200
0.11890
0.34880
39.8400
5.0100
38.4700
96.9600
18.4300
3.2100
114.7500
1.4734
11.5000
23.0400
40.4000
173.9200

124.6400
5.68000
2.60900
102.5800
16.7500
25.8400
20.4200
40.3300
10.9500
173.4000
0.11890
0.34810
39.8000
5.0300
38.3100
99.4000
18.4800
3.2200
114.7500
1.4723
11.5000
23.0700
40.4200
173.4000