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17 L — 1 ^ ... c Selected Interest & Exchange Rates XAfeekly Series of Charts SEPTEMBER 30,1974 Prepared by the FINANCIAL MARKETS SECTION >L DIVISION OF INTERNATIONAL FINANCE Washington, D C. 20551 V " M e of Contents CHARTS TABLES 1. SPOT EXCHANGE RATE INDEXES 1 LATEST FIGURES PLOTTED 2. 3-MONTH FORWARD EXCHANGE RATES 2. D A I L Y C E R T I F I E D SPOT EXCHANGE R A T E S - 3. GOLD P R I C E - L O N D O N 4. C A L L MONEY RATES 5. 3-MONTH INTEREST RATES 6. EURO-DOLLAR DEPOSIT RATES 7. SELECTED EURO-DOLLAR A N D U.S. M O N E Y M A R K E T RATES 8. INTEREST A R B I T R A G E : 3-MONTH FUNDS 9. LONG-TERM G O V E R N M E N T BOND Y I E L D S 10. I N D U S T R I A L STOCK I N D E X E S H.10 RELEASE TABLE 1 LAST FIGURE PLOTTED SERIES NAME Chart 1. 116.00 127.00 94.40 Sept. 25 0.705 -2.627 2.560 -5.377 1.557 1.712 0.295 Sept. 18 151.18 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. 85.11 121.70 137.70 133.60 96.50 109.80 Gold Price in London U.S. Dollars per fine ounce 4. Sept. 25 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 Sept. 25 11.120 10.800 Sept. 20 10.625 8.700 9.000 9.063 Sept. Sept. Sept. Sept. 11 20 13 20 13.000 Sept. 25 10.380 13.500 7.600 . 4.050 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 July 31 Sept. 25 Aug. 9 9.475 9.240 11.600 11.188 11.766 7.000 - 2 - LAST FIGURE PLOTTED SERIES NAME 6. Euro-Dollar Deposit Rates: VALUE Sept. 25 " 10.800 10.775 11.138 11.600 11.875 11.863 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. DATE 11 " " " Selected Euro-Dollar and U.S. Money Market Rates . Overnight Euro-dollar deposits Sept. 25 U.S. Federal Funds " Differential Adj. for Reserve Requirements " 11 3-Month Euro-dollar deposit rate U.S. CD's (60-89 day) " Differential Adj. for Reserve Requirements " 8. 10.80 11.12 0.62 11.60 10.*38 1.33 Interest Arbitrage - 3-Month Funds Euro-dollar deposit Interbank Sterling (London), Covered Differential Sept. 25 " " 11.600 9.138 2.462 " U.S. commercial paper (90-119 day) Canadian finance co. paper, covered Differential 11 10.930 11.892 -0.962 Euro-dollar deposit Interbank DM (Frankfurt), covered Differential " " " 11.600 12.035 -0.435 Euro-dollar deposit Swiss deposit rate (SF), covered Differential " " " 11.600 1.557 10.043 LAST FIGURE PLOTTED SERIES NAME DATE 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 Sept. 13 Aug. 30 Sept. 20 Sept. 6 Sept. 13 Aug.30 Aug. 1 * " 8.070 10.710 10.184 7.360 9.710 11.100 9.720 15.040 9.00 9.48 9.79 Industrial Stock Indexes United States Japan Canada France United Kingdom Switzerland Germany Sept. 13 Aug. 30 Sept. 30 71.306 191.764 87.293 90.700 50.905 54.893 73.319 I Chart 1 SPOT EXCHANGE RATES I N D E X E S O F D O L L A R PRICES O F F O R E I G N C U R R E N C I E S A V E R A G E S FOR W E E K E N D I N G W E D N E S D A Y SCALE Y=100 — 100 - 130 CANADIAN DOLLAR 90 80 FOREIGN CURRENCY PRICE OF_U.S. D O L L A R Weighted average 100 I I lull I I I I I I - JAPANESE YEN n l u l n h IIMIMIM FRENCH FRANC 140 140 /A 120 /—' 120 - ' 100 100 I I I I Ml, .lull, I I 180 180 GERMAN MARK 160 „ SWISS F R A N C 160 140 140 120 120 - .—r 100 100 1 160 DUTCH GUILDER 1 1 1 .1 lllllllllll 1 160 - BELGIAN FRANC ~ 140 140 120 120 \ z 100 1 1 1 111 120 — < 80 1 ' 120 ITALIAN LIRA U.K. POUND 10C 100 lllllllllll ; V / V \ l M V ^ v v 1 1 i 1 1 1 llllllllllilillllllllll i i i 1 1 1E72 1 ~ lllllllllll 1974 100 80 1 Chart 2 3-MONTH FORWARD EXCHANGE RATES PREMIUM (+), OR DISCOUNT ( - ) AVERAGES FOR WEEK ENDING WEDNESDAY :NT PER ANNUM 6 C A N A D I A N DOLLAR 0 6 6 PER CENT PER ANNUM U.K. POUND SWISS FRANC GERMAN MARK DUTCH GUILDER 0 S 12 12 6 0 12 " FRENCH FRANC JAPANESE YEN ! 2 per cent on scale equals 1 per cent on all others 6 > / - - 12 w ~ \ v I i I i M ! ] I i i I 11 l i I Chart 3 Cj PRICE OF GOLD IN LONDON I AVERAGES FOR WEEK ENDING WEDNESDAY U.S. DOLLARS PER FINE OUNCE 200 1 2 5 Kg BARS Afternoon fixing price 150 100 30 1872 1874 Chart 4 CALL MONEY RATES WEEKLY SERIES PEF 15 10 OVERNIGHT EURO-DOLLARS JAPAN 5 U.S. FEDERAL FUNDS 0 20 15 U.K. 2 - D A Y LOCAL AUTHORITY FRANCE 10 5 0 15 10 NETHERLANDS CANADA 5 0 20 EURO-SWISS FRANC 15 10 IERMANY 5 0 EURO-DMi 5 1972 1974 1972 1974 w Chart 5 3-MONTH INTEREST RATES WEEKLY SERIES 12 \ U N I T E D STATES CD's C A N A D I A N FINANCE CO. PAPER 8 4 20 20 G E R M A N INTERBANK RATE U.K. I N T E R B A N K STERLING 16 12 8 4 12 18 EURO-DOLLAR 12 SWISS DEPOSIT RATE 8 JAPAN Monthly 4 1972 1974 1972 1874 w Chart 6 EURO-DOLLAR DEPOSIT RATES London A V E R A G E S FOR W E E K E N D I N G W E D N E S D A Y PER CENT PER ANNUM PER CENT PER ANNUM 16 16 3-MONTH OVERNIGHT r ' ~ - I 7-DAY I I I I I I I I II I I I I I I 6-MONTH A I I I I I I 1-YEAR I I I I I I I I I i I I I I I ll I 1972 II I I I i I I I 1974 I ! I r I I I Chart 7 SELECTED EURO-DOLLAR AND U.S. MONEY MARKET RATES A V E R A G E S FOR WEEK ENDING WEDNESDAY 15 F E D E R A L FUNDS 3-MONTH Eurodollar deposits 10 OVERNIGHT Euro-dollar deposits 6 0 - 8 9 D A Y CD's 5 \l l r V 0 DIFFERENTIAL Adjusted for reserve requirements 1972 Favors Borrowing in U.S. if Positive 1974 i v W DIFFERENTIAL Adjusted for reserve requirements 1972 1974 ChartB INTEREST ARBITRAGE; 3-MONTH FUNDS A V E R A G E S FOR W E E K E N D I N G W E D N E S D A Y D I F F E R E N T I A L : PLUS (+), I N D I C A T E S F A V O R D O L L A R ASSETS PER ANNUM PER CENT PER 20 20 I N T E R B A N K DM, C O V E R E D Frankfurt 15 15 E U R O - D O L L A R DEPOSITS 10 10 5 5 ,\ 0 5 EURO-DOLLAR DEPOSITS DIFFERENTIAL fi 0 INTERBANK STERLING, COVERED London 5 10 10 DIFFERENTIAL 15 15 20 20 15 E U R O - D O L L A R DEPOSITS C A N A D I A N F I N A N C E CO. PAPER, C O V E R E D 15 10 10 5 5 U.S. C O M M E R C I A L PAPER SWISS DEPOSITS (SF), C O V E R E D 0 0 DIFFERENTIAL DIFFERENTIAL 5 1 1972 1974 5 1972 1974 Chart 9 LONG-TERM GOVERNMENT BOND YIELDS W E E K L Y SERIES 9 U N I T E D STATES CANADA 7 5 12 12 GERMANY FRANCE 10 8 / JAPAN Industrial NETHERLANDS 6 10 UNITED KINGDOM 8 SWITZERLAND 6 4 12 12 U.S. CORPORATE Monthly l_ U.S. CORPORATE Monthly Euro—Dm bonds 10 Euro—dollar bonds Aaa bonds 8 6 1972 1974 1972 1974 Chart 10 INDUSTRIAL STOCK INDEXES W E E K L Y SERIES RATIO SCALE 1969=100 240 180 UNITED STATES 100 320 240 160 UNITED KINGDOM 120 JAPAN 160 80 200 200 40 150 150 CANADA SWITZERLAND 1Q0 100 50 240 240 180 180 FRANCE General index GERMANY 100 100 60 60 1972 1974 1972 1974 SEPTEMBER 23, 1974 10 FOREIGN EXCHANGE RATES FOR THE WEEK ENDING SEPTEMBER 20, 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 (1) SWEDEN SWITZERLAND UNITED KINGDOM (RATE U.S. CENTS) SFP. 18 MONETARY UNIT SEP. 16 SEP. 17 DOLLAR SCHILLING FRANC DOLLAR KRONE MARKKA FRANC D. MARK RUPEE POUND LIRA YEN DOLLAR PESO GUILDER DOLLAP KRONE E SCUD° RAND *>FSETA RUPEE KRONA FRANC POUND 148.7000 5.29000 2.53000 101.2200 16.0000 26.3000 20.7700 37.5300 12.3200 231.3300 0.15090 0.33400 41.4700 8.0000 36.8300 142.2500 17.9700 ^.8500 142.7000 1.7300 14.8000 22.3400 33.2700 231.3300 148.<000 5.30000 2.53700 101.2*00 16.1200 26.3200 20.8200 37,7500 12.3200 231.7000 O.15IO0 0.33770 41.4000 8.0000 37.0100 142.2500 18.0300 3.8600 142.7000 1.7335 14.8000 22.4000 33.4000 231.7000 (1) SRI LANKA PREVIOUSLY KNOWN AS CEYLON 148.5060 5.31000 2.54150 101.2600 16.0900 26.3200 20.8800 37.7600 12.3200 231.9500 0.15120 0.33780 41.4000 8.0000 37.0200 142.2500 18.0300 3.8500 142.7000 1.7375 14.8000 22.4300 33.5100 231.9500 SEP. 19 148.2500 5.32000 2.53600 101.3500 16.1100 26.3100 20.8*00 37.6100 12.3200 231.5000 0.15120 0.33690 41.4000 8.0000 36.9400 142.2*00 18.0300 3.8600 142.7000 1.7325 14.8000 22.3900 . 33.4000 231.5000 SFP. 20 148.5000 *.30000 2.53600 101.3400 16.0600 26.3000 20.8400 37.5700 12.3200 231.4200 0.15100 0.33800 41.2500 8.0000 ^ 36.9100 142.2*00 18.0000 3.8600 142.7500 1.7345 14.8000 22.3600 33.3800 231.4200
@FedFRASER