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5 - W W O • . U Selected Interest & Exchange Rates Weekly Series of Charts September 25,1978 DIVISION OF INTERNATIONAL FINANCE Prepared by the FINANCIAL MARKETS SECTION BOARD OF GOVERNORS FEDERAL RESERVE SYSTEM Washington, D C. 20551 ' " M , 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 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 FOREIGN CURRENCY PRICE OF U.S. DOLLAR 160 — 140 - CANADIAN DOLLAR — FRENCH FRANC GERMAN MARK — 120 - I 100 150 — 130 - I I I I I I I I I I I I I — JAPANESE YEN n SWISS FRANC ~ Jf 110 - ~ - 90 - — Ml,,I,.1,7 150 — — 130 — 110 - 90 " m i DUTCH GUILDER — /^X/-zV - BELGIAN FRANC — - - I I I 1 1 1 1 1 1 1 i i l i i h i l n U.K. POUND ITALIAN LIRA 1976 1978 1976 1978 CHART 2 3-MONTH FORWARD EXCHANGE RATES PREMIUM (+) OR ( - ) AVERAGES FOR WEEK ENDING WEDNESDAY PER CENT PER ANNUM 6 r PER CENT PER ANNUM ITALIAN LIRA VY CANADIAN DOLLAR - - I I I I I 24 I 48 DUTCH GUILDER U. K. POUND 12 GERMAN MARK SWISS FRANC —A p I I / - / / J I ^ I I I IVVv, l FRENCH f - - JAPANESE YEN - J - I I 1976 I l l I 1978 1976 1978 CHART 3 PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY | DOLLARS PER FINE OUNCE U.S. DOLLARS PER FINE OUNCE 220 200 180 12.5 Kg BARS AFTERNOON FIXING PRICE 160 140 120 100 1975 1976 1977 1978 CHART 4 CALL MOtiEY RATES WEEKLY SERIES PER ( PER CENT PER AN NT PER ANNUM „ 12 U.S. FEDERAL FUNDS 8 4 - JAPAN V) - - OVERNIGHT EURO-DOLLARS i 11 0 i i 16 FRANCE 12 V 8 U.K. 2 - D A Y LOCAL AUTHORITY v: > vlh- J 4 — I 0 I I I I I llillllllll 12 NETHERLANDS CANADA 8 4 0 12 8 EURO-SWISS FRANC GERMANY 4 + 0 EURO-DM 4 1976 1978 1976 1978 F CHART 5 3-MONTH INTEREST RATES WEEKLY SERIES PER CENT PER ANNUM 'ER CENT PER ANNUM 12 12 r— CANADIAN FINANCE CO. PAPER WEIGHTED AVERAGE FOREIGN RATE U.S. CD S JAPANESE BANK LOANS AND DISCOUNTS U.K. INTERBANK STERLING 10 SWISS INTERBANK RATE - - \ GERMAN INTERBANK RATE — I I I I I 1976 I 1978 1976 1978 4 1 J CHART 6 EURO-DOLLAR DEPOSIT RATES LONDON AVERAGES FOR WEEK ENDING WEDNESDAY PER CENT PER ANNU PER CENT PER ANNUM 10 10 - / 3-MONTH OVERNIGHT - — 10 - 10 - 6 6-MONTH 7-DAY 1-YEAR 10 1-MONTH a/ 10 - r - I — I I I I I 1976 I I 1978 I I I I 1976 I 11111111!i i l 1978 CHART r 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 3-MONTH DASHED LINE EURO-DOLLAR DEPOSITS OVERNIGHT EURO-DOLLAR DEPOSITS 90-DAY CD'S DASHED LINE DIFFERENTIAL ADJUSTED FOR RESERVE DIFFERENTIAL REQUIREMENTS ADJUSTED i 1 1 1 1 1 1 11 I I 1 1 1 1 1 1 1 1 1 1 1 1 1976 FAVORS BORROWING IN U. S. IF 1978 POSITIVE j FOR RESERVE REQUIREMENTS I I i I I I I I I I I I I I I I I I I I I I I I 1976 1978 2 CHART 8 INTEREST ARBITRAGE: 3-MONTH FUNDS DIFFERENTIAL: PLUS(+), INDICATES FAVOR DOLLAR ASSETS AVERAGES FOR WEEK ENDING WEDNESDAY ENT PER ANNUM PER CENT PER M 10 8 INTERBANK INTERBANK STERLING COVERED FRANKFURT COVERED LONDON 6 4 EURO-DOLLAR DEPOSITS DASHED LINE 2 DIFFERENTIAL + 0 DIFFERENTIAL 2 I I I I I II I I I I I I I I I I II I I I 11111111111 10 CANADIAN FINANCE CO. PAPER, COVERED - J EURO-DOLLAR DEPOSITS It - 8 _ \ 6 I / \ I — 4 U.S. COMMERCIAL PAPER - DASHED LINE A/VvWr - SWISS INTERBANK (SF) COVERED DASHED LINE - - 2 DIFFERENTIAL DIFFERENTIAL + 0 V 2 111111111111' 11' 1976 1978 I I ) AJVAAV/ /W » V W I I I 1976 I ' uv v l l l l l l l l l l l ^ A ^ h/vvV/XzAi l l l l l l l l l l l 1978 CHART 9 LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES PER PER CENT PER AN [NT PER ANNUM 9 CANADA UNITED STATES t \ J — - 7 - I 5 10 I I I I I JAPAN INDUSTRIAL SWITZERLAND 8 6 GERMANY 4 13 UNITED KINGDOM FRANCE 11 9 7 NETHERLANDS 5 11 U. S. CORPORATE MONTHLY U. S. 9 ,\ / V X EURO-DOLLAR CORPORATE MONTHLY BONDS ^.x^ Aaa BONDS 7 EURO-DM BONDS 11 > S 1976 1978 1976 JLLL 1978 CHART 10 INDUSTRIAL STOCK INDEXES WEEKLY SERIES RATfO SCALE 1969=100 RATIO S C A l l 1969=100 140 120 200 - UNITED STATES - 160 100 - A / f - UNITED KINGDOM 80 - 120 - 100 - 80 — I 60 320 — 280 - 240 - I I I , | i i | — - r^y JAPAN / 60 - - 200 40 160 " l 140 — 120 — | I | i i r I I I II I I I I I I — 100 — CANADA r 100 80 — SWITZERLAND - 80 - — 60 I 60 I I 50 140 120 140 — A 100 120 FRANCE r GENERAL —n ^ INDEX f — — GERMANY a p r \ 100 • 80 — 80 ~ 60 i i i I I 1976 I | , , 1<I<<I<1I<: 1978 I I 1976 I <<h:i<<i<< 1978 f SERIES NAME LAST VALUE PLOTTED DATE VALUE ^ ^ C H A R T 1 . 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 SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. 20 20 20 20 20 20 20 20 20 50.65 0.52638 46.61 196.37 85.75 22.85 63.45 3.21093 0.12034 SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. 20 20 20 20 20 20 20 20 20 142.47 137,.82 133,.79 79,,43 85,.47 102,.96 204,.14 126,.53 6 8 , .36 20 20 20 20 20 20 20 20 20 20 89,.63 137,.76 130,.04 124,. 5 1 70,.52 76,.96 93,.86 190,.68 117,.00 60,.52 20 20 20 20 20 20 20 20 - 0 , .17 - 2 . .80 5 . .94 0 ,.72 9 ,.33 3,. 4 4 6 ,.98 - 3 , .38 I N D I C E S , MARCH 1973 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 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 . SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. 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 SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. SERIES NAME LAST VALUE PLOTTED DATE VALUE CHART 3 . GOLD PRICE IN LONDON U . S . DOLLARS PER FINE OUNCE SEPT. 20 211.29 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 SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. 20 20 15 15 15 15 15 15 8 15 8.37 8.51 8.75 7.70 3.50 3.42 4.13 7.38 4.95 0.34 SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. 20 20 20 20 20 20 20 8.50 3.69 4.50 5.76 9.05 9.20 0.52 SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. 20 20 20 20 20 20 8.51 8.55 8.81 9.09 9.35 9.38 20 20 20 20 20 20 8.51 8.37 0.14 9.09 8.50 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 SEPT. SEPT. SEPT. SEPT. SEPT. SEPT. n ^05 SERIES NAME CHART 8 . INTEREST ARBITRAGE, LAST VALUE PLOTTED DATE VALUE 3-MONTH FUNDS EURO-DOLLAR DEPOSIT INTERBANK STERLING ( L O N D O N ) , COVERED DIFFERENTIAL SEPT. 20 SEPT. 2 0 SEPT. 2 0 9.09 6 ., 4 0 2 .. 6 8 U . S . COMMERCIAL PAPER CANADIAN FINANCE PAPER, COVERED DIFFERENTIAL SEPT. 20 SEPT. 20 SEPT. 20 8 .. 4 5 8 , .88 —0<. 4 3 EURO-DOLLAR DEPOSIT INTERBANK DM (FRANKFURT), COVERED DIFFERENTIAL SEPT. 20 SEPT. 20 SEPT. 20 9 ,. 0 9 9 .. 6 3 - 0 ..54 EURO-DOLLAR DEPOSIT SWISS INTERBANK, COVERED DIFFERENTIAL SEPT. 2 0 SEPT. 2 0 SEPT. 20 9 .. 0 9 9 ,. 8 6 - 0 ..77 S E P T . 15 SEPT. 8 AUG. SEPT. 1 S E P T . 15 SEPT. 1 SEPT. 8 S E P T . 15 a ,. 3 1 6 , .07 6 .. 2 1 3 .. 2 9 9 . .19 1 0 ,. 0 5 7 .. 2 5 11,.45 CHART 9 . LONG TERM GOVERMENT BOND Y I E L D S UNITED STATES GERMANY JAPAN (MONTHLY) SWITZERLAND CANADA FRANCE NETHERLANDS UNITED KINGDOM U . S . CORPORATE AAA BONDS EURQ-OM BONDS EURO-DOLLAR BONDS CHART 1 0 . AUG. JULY JULY 8.69 6.83 8.12 I N D U S T R I A L STOCK I N D I C E S UNITED STATES JAPAN CANADA FRANCE UNITED KINGDOM SWITZERLAND GERMANY S E P T . 15 SEPT. 8 SEPT. 1 AUG. 1 1 SEPT. 8 S E P T . 15 SEPT. 8 109.62 282.57 103.07 120.98 123.15 71.24 106.25 •vj»C0vA- F E D E R H . 10 A L R E S E R V E s t a t i s t i c a l SEPTEMBER 2 2 , FOREIGN EXCHANGE RATES FOR THE WEEK ENDING SEPTEMBER 2 2 , r e l e a s e 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: IRATE U . S . CENTS SEP. 20 COUNTRY MONETARY UNIT S E P . 18 S E P . 19 AUSTRALIA AUSTRIA BELGIUM CANADA DENMARK FINLAND FRANCE GERMANY JNDIA 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 GUILDER DOLLAR KRONE ESCUDO RAND PESETA RUPEE KRONA FRANC POUND 115.0800 6.96196 3.21027 85.6900 18.4060 24.4708 22.8310 50.6329 12.4900 195.8700 0.12016 0.52411 43.4775 4.3937 46.5333 105.5000 19.1351 2.1906 115.0000 1.3468 6.4200 22.5989 63.2911 195.8700 115.1700 6.99912 3.21234 85.4600 18.4502 24.5459 22.7454 50.6329 12.4900 196.1000 0.12029 0.52549 44.4500 4.3937 46.6309 105.6000 19.1351 t 2.2002 115.0000 1.3530 6.4200 22.5989 63.6537 196.1000 115.5500 7.05219 3.23206 85.4750 18.5357 24.6883 22.8833 50.9554 12.4900 197.8500 0.12085 0.52966 43.6000 4.3975 46.9043 106.0000 19.3013 2.2075 115.0000 1.3592 6.4200 22.6732 64.9773 197.8500 SEP. 2 1 SEP. 22 115.7700 7.07965 3.24781 85.5500 18.5219 24.7770 22.8310 51.2112 12.4900 198.0000 0.12124 0.53262 43.8300 4.3946 47.1143 106.2500 19.3125 2.2075 115.0000 1.3680 6.4200 22.6937 65.9631 198.0000 115.5500 7.05343 3.24570 85.2350 18.5460 24.7310 22.8310 51.2033 12.4900 197.2000 0.12088 0.53121 43.8200 4.3956 47.0699 105.5500 19.3050 2.1906 115.0000 1.3674 6.4200 22.6603 65.6599 197.2000
@FedFRASER