Selected Interest & Exchange Rates...1978/03/13 · f\U U8»^l= S0* % 5y 1978 cer^ Selected Interest & Exchange Rates Weekly Series of Charts March 13, 1978 Prepared by the FINANCIAL

$Page 1: Selected Interest & Exchange Rates...1978/03/13 · f\U U8»^l= S0* % 5y 1978 cer^ Selected Interest & Exchange Rates Weekly Series of Charts March 13, 1978 Prepared by the FINANCIAL$
f \ U

U 8 » ^ l = S 0 * 1978 % 5 y

* * * # * « » c e r ^

Selected Interest & Exchange Rates Weekly Series of Charts

March 13, 1978

Prepared by the FINANCIAL MARKETS SECTION

DIVISION OF INTERNATIONAL FINANCE

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

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

#

#

• Table of Contents #

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, Divi-sion 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.

TABLES

1. LATEST FIGURES PLOTTED 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 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 - ;c: i CURRENCIES AND WEIGHTED AVERAGE VALUES (THIN LINE) AVERAGES FOR WEEK ENDING WEDNESDAY

DOLLAR PRICES OF FOREIGN

RATIO SCALE MAY 1970 PARITY=100

— | 120 M SCALE MAY 1970 PARITY: 100

100 100

FOREIGN CURRENCY PRICE OF U.S. DOLLAR CANADIAN DOLLAR 80

80

140

180 FRENCH FRANC 120 GERMAN MARK

160

140 100

120 240

180

160 200

SWISS FRANC * 140 180 JAPANESE YEN

160 120

140

% 100 120

160 160

DUTCH GUILDER BELGIAN FRANC 140 ^ 140

120 120

100 100

110 110

90 90 U.K. POUND

ITALIAN LIRA

70 70

50 1978 1976 1976 1978


CHART 2

3-MONTH FORWARD EXCHANGE RATES PREMIUM (+) OR ( - )

AVERAGES FOR WEEK ENDING WEDNESDAY

PER CENT PER ANNUM

6

12

18

12 -

CANADIAN DOLLAR ~

I I I I I I 11111111111

- -

- jVyw U. K. POUND k I

-

I I I I I I -

-

rvA GERMAN MARK /

1 1 1 i i i i i l i i l i i l n

FRENCH FRANC

1976 1978

PER CENT PER ANNUM

- DUTCH GUILDER . -

1 1 1 1 1 1 I I I I I I I I I I I

SWISS FRANC / : -A / J ^ -

1 1 1 1 1 1 . . H I L L . I . I M h l l . l l l l

-JAPANESE YEN f

-

1 1 1 I I I I I I ] I I I I

1976 1978

+ 0

12

# * Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

U.S. DOLLARS PER FINE OUNCE

190

170 -

CHART 3

PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY

1976

U.S. DOLLARS PER FINE OUNCE

190

12.5 Kg BARS AFTERNOON FIXING PRICE

I I I I I I I I I I I 1976

/


CHART 4

CALL MONEY RATES WEEKLY SERIES

PER CENT PER ANNUM

12 -

U.S. FEDERAL FUNDS

— OVERNIGHT EURO-DOLLARS

PER CENT PER ANNU

JAPAN

FRANCE

U.K. 2-DAY LOCAL AUTHORITY

NETHERLANDS CANADA

I I I I I I I

EURO-SWISS FRANC

GERMANY

EURO-DM

1976 1978 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

CHART 5

3-MONTH INTEREST RATES WEEKLY SERIES

ENT PER ANNUM PER CENT PER ANNUM

12

CANADIAN FINANCE CO. PAPER

EURO-DOLLAR

U. S. CD S

i i ! i i l l i I i i

v JAPANESE BANK LOANS AND DISCOUNTS

U.K. INTERBANK STERLING

10

GERMAN INTERBANK RATE -

I I I I I I I I I I I I I I I I I

SWISS INTERBANK RATE

* # 1976 1978 1976

- 4

1978


CHART 6

EURO-DOLLAR DEPOSIT RATES LONDON AVERAGES FOR WEEK ENDING WEDNESDAY

PER CENT PER ANNUM PER CENT PER

OVERNIGHT 3-MONTH

6-MONTH

7-DAY

1-YEAR

1-MONTH

II 111 I II 111 1976 1978 1976 1978


#

CHART 7

SELECTED EURO-DOLLAR AND U. S. MONEY MARKET RATES AVERAGES FOR WEEK ENDING WEDNESDAY

PER CENT PER ANNUM

10

PEFI CENT PER ANNUM

FEDERAL FUNDS DASHED LINE

OVERNIGHT EURO-DOLLAR DEPOSITS

DIFFERENTIAL ADJUSTED FOR RESERVE REQUIREMENTS

1_L I I I I I I I I

DEPOSITS EURO

\Kj v

90-DAY CD'S DASHED LINE

. ILLL I M i l l

DEFERENTIAL ADJUSTED FOfi RESERVE REQUIREMENTS

M I M I M 1 M \ I

1976 #70 1976 iws

FAVORS BORROWr',r ;N Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

PER

10

8

6

4

2

+ 0

2

10

8

6

4

2

+ 0

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 AH

EURO-DOLLAR DEPOSITS

' INTERBANK STERLING COVERED LONDON l A

/I

DIFFERENTIAL

L_l_l i i I I I i i

INTERBANK DM COVERED FRANKFURT

EURO-DOLLAR DEPOSITS DASHED LINE

DIFFERENTIAL

11hi I i i I u l i i l i

CANADIAN FINANCE CO. PAPER, COVERED

U.S. COMMERCIAL PAPER DASHED LINE

DIFFERENTIAL

J I Hill I lllll Hill I ill I I III Li

„ EURO-DOLLAR DEPOSITS

V —

- SWISS INTERBANK (SF) COVERED

—

-

DASHED LINE

-

: DIFFERENTIAL

W F » » — v • -

111 I I I ulii hili i iilii hih i 1976 1978 1976 1978


CHART 9

LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES

PER CENT PER ANNUM ;ENT PER ANNUM

CANADA UNITED STATES

5

10 JAPAN INDUSTRIAL

SWITZERLAND

8

6

GERMANY

4

13

UNITED KINGDOM

FRANCE 11

9

7

NETHERLANDS

5

11 U. S . CORPORATE MONTHLY

U. S . CORPORATE MONTHLY

9 EURO-DOLLAR BONDS

Aaa BONDS

7

EURO-DM BONDS

5

1978 1976 1978 1976 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

RATIO SCALE 1969=100

140

120

100

80

60

CHART 10

INDUSTRIAL STOCK INDEXES WEEKLY SERIES

140

120 - UNITED STATES -

100 - f -

80 -

60 I I I I I I <1 I<1 I11 I1<

JAPAN

CANADA

UNITED KINGDOM

100 w

— SWITZERLAND A. - 80

• 60

I l l I I I < < | < | | | | | | | | | ] | J j | | | | | 50

140

120 A FRANCE

^ >v GENERAL INDEX

100 —

80 - \ -

60 I I I I I I << I<M<<I<<

—

GERMANY y* —

I I I I I I

-

1976 1978 1976 1978 # Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

SERIES NAME LAST VALUE PLOTTED

DATE VALUE

s RT 1 . SPUT EXCHANGE RATES

WEEKLY AVERAGES, NOON BUYING RATES ( U . S . CENTS)

GERMAN MARK MARCH 8 4 9 . 4 9 JAPANESE YEN MARCH 8 0 . 4 2 3 0 9 DUTCH GUILDER MARCH 8 4 6 . 2 8 U . K . POUND MARCH 8 1 9 3 . 7 7 CANADIAN DOLLAR MARCH 8 8 9 . 1 2 FRENCH FRANC MARCH 8 2 0 . 9 8 SWISS FRANC MARCH 8 5 3 . 5 2 BELGIAN FRANC MARCH 8 3 . 1 7 4 7 0 ITAL IAN LIRA MARCH 8 0 . 1 1 7 2 3

INDICES, MAY 1970 PARITIES = 100

GERMAN MARK JAPANESE YEN DUTCH GUILDER U . K . POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC BELGIAN FRANC ITAL IAN LIRA

MARCH MARCH MARCH MARCH MARCH MARCH MARCH MARCH MARCH

6 8 8 8 8 8 8 8 8

1 8 1 . 1 3 1 5 2 . 3 1 1 6 7 . 5 3

8 0 . 7 4 9 6 . 3 4

1 1 6 . 5 2 2 3 4 . 0 2 1 5 8 . 7 3 7 3 . 2 7

WEIGHTED AVERAGE EXCHANGE VALUE INDICES, MAY 1970 = 100

U . S . DOLLAR GERMAN MARK JAPANESE YEN DUTCH GUILDER U . K . POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC BELGIAN FRANC ITAL IAN FRANC

MARCH MARCH MARCH MARCH MARCH MARCH MARCH MARCH MARCH MARCH

8 8 8 8 8 8 8 8 8 8

8 2 . 7 6 1 6 7 . 4 4 1 3 4 . 9 0 1 4 7 . 6 8

6 6 . 3 1 8 1 . 7 1

100.62 2 0 5 . 1 2 1 3 9 . 4 0

6 0 . 3 8

CHART 2 . 3-MONTH FORWARD EXCHANGE RATES, PREMIUM OR DISCOUNT

CANADIAN DOLLAR MARCH 8 - 0 . 1 4 U . K . POUND MARCH 8 - 0 . 3 8 GERMAN MARK MARCH 8 4 . 2 9 FRENCH FRANC MARCH 8 - 6 . 4 4 SWISS FRANC MARCH 8 6 . 9 5 DUTCH GUILDER MARCH 8 1 . 7 6 JAPANESE YEN MARCH 8 4 . 8 7



DATE VALUE

CHART 3 . GOLD PRICE IN LONDON

U . S . DOLLARS PER FINE OUNCE MARCH 8 1 8 5 . 6 7

4 . CALL MONEY RATES

U . S . FEDERAL FUNDS MARCH 8 6 . 7 6 OVERNIGHT EURO-DOLLAR DEPOSITS MARCH 8 6 . 7 8 U . K . 2-DAY LOCAL AUTHORITY DEPOSITS MARCH 3 6 . 2 5 CANADA MARCH 3 7 . 1 5 GERMANY MARCH 3 3 . 5 0 EURO-DM MARCH 3 3 . 5 8 JAPAN MARCH 3 5 . 0 0 FRANCE MARCH 3 1 0 . 5 0 NETHERLANDS FEB. 24 4 . 6 9 EURO-SWISS FRANC MARCH 3 0 . 1 9

CHART 5 . 3-MONTH INTEREST RATES

U . S . 90-DAY CD'S MARCH 8 6 . 7 5 GERMAN INTERBANK LOAN MARCH 8 3 . 4 4 JAPANESE BANK LOANS & DISCOUNTS MARCH 8 5 . 2 5 EURO-DOLLAR DEPOSIT MARCH 8 7 . 3 0 CANADIAN FINANCE PAPER MARCH 8 7 . 1 7 INTERBANK STERLING MARCH 8 6 . 9 9 SWISS INTERBANK LOAN MARCH 8 0 . 3 2

CHART 6 . EURO-DOLLAR DEPOSIT RATES: LONDON

OVERNIGHT MARCH 8 6 . 7 8 7-DAY MARCH 8 6 . 8 6 1—MONTH MARCH 8 6 . 9 9 3—MONTH MARCH 8 7 . 3 0 6-MONTH MARCH 8 7 . 6 3 1-YEAR MARCH 8 7 . 9 0

CHART 7 . SELECTED EURO-DOLLAR AND U . S . MONEY MARKET RATES

OVERNIGHT EURO-DOLLAR DEPOSITS MARCH 8 6 . 7 8 U . S . FEDERAL FUNDS MARCH 8 6 . 7 6 DIFFERENTIAL A D J . FOR RESERVE REQUIREMENTS MARCH 8 0 . 3 0 3-MONTH EURO-DOLLAR DEPOSIT RATE MARCH 8 7 . 3 0 U . S . 90-DAY CD'S MARCH 8 6 . 7 5 DIFFERENTIAL A D J . FOR RESERVE REQUIREMENTS MARCH 8 0 . 4 2



DATE VALUE

CHART 8 . INTEREST ARBITRAGE, 3-MONTH FUNDS

EURO-DOLLAR DEPOSIT MARCH b 7 . 3 0 INTERBANK STERLING (LONDON), COVERED MARCH ti 6 . 6 0 DIFFERENTIAL MARCH 8 0 . 7 0

U . S . COMMERCIAL PAPER MARCH 6 6 . 7 5 CANADIAN FINANCE PAPER, COVERED MARCH 8 7 . 0 3 DIFFERENTIAL MARCH 8 —0.28

EURO-DOLLAR DEPOSIT MARCH 8 7 . 3 0 INTERBANK DM (FRANKFURT), COVERED MARCH 8 7 . 7 3 DIFFERENTIAL MARCH 8 - 0 . 4 3

EURO-DOLLAR DEPOSIT MARCH 8 7 . 3 0 SWISS INTERBANK, COVERED MARCH S 7 . * 6 DIFFERENTIAL MARCH 8 0 . 0 2

CHART 9 . LUNG, TERM GUVERMENT BOND YIELDS

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

MARCH 3 6 . 0 4 MARCH 3 5 . 2 9

J A N . 6 . 1 4 MARCH 3 3 . 4 6 MARCH 3 9 . 1 4

FEB. 10 1 1 . 0 3 FEB. 24 7 . 1 0

MARCH 3 9 . 9 7

U . S . CORPORATE

AAA BONDS EURO-DM BONDS EURO-DOLLAR BONDS

JAN. 8 . 4 1 JAN. 6 . 4 1 JAN. 7 . 9 9

CHART 1 0 . INDUSTRIAL STOCK INDICES

UNITED STATES MARCH 3 89. .67 JAPAN FEB. 17 254. .14 CANADA FEB. 10 85. .43 FRANCE FEB. 10 77 . .93 UNITED KINGDOM MARCH 3 103. . 91 SWITZERLAND MARCH 3 75. .87 GERMANY MARCH 3 100. .18


o°L£2te F E D E R A L R E S E R V E s t a t i s t i c a l r e l e a s e

H. 10 FOREIGN EXCHANGE RATES

FOR THE WEEK ENDING MARCH 1 0 , 1978

MARCH 1 3 , 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 MONETARY

UNIT (RATE U . S . CENTS)

COUNTRY MONETARY

UNIT MAR. 6 MAR. 7 MAR. 8 MAR. 9 MAR. 10

AUSTRALIA DOLLAR 1 1 3 . 7 5 0 0 1 1 3 . 7 5 0 0 1 1 4 . 0 0 0 0 1 1 3 . 9 0 0 0 1 1 3 . 2 5 0 0 AUSTRIA SCHILLING 6 . 8 1 5 0 0 6 . 6 1 0 0 0 6 . 9 1 2 5 0 6 . 8 4 5 0 0 6 . 7 3 5 0 0 BELGIUM FRANC 3 . 1 6 1 0 0 3 . 1 6 3 0 0 3 . 1 7 3 0 0 3 . 16400 3 . 1 1 7 5 0 CANADA DOLLAR 8 9 . 2 3 0 0 6 8 . 9 5 0 0 6 8 . 8 1 0 0 6 8 . 9 0 0 0 8 9 . 0 4 5 0 DENMARK KRONE 1 7 . 8 8 0 0 1 7 . 9 6 0 0 1 7 . 9 0 0 0 1 7 . 6 7 0 0 1 7 . 6 0 0 0 FINLAND MARKKA 2 4 . 0 2 5 0 2 4 . 0 7 5 0 2 4 . 1 5 5 0 2 4 . 0 9 5 0 2 3 . 9 4 0 0 FRANCE FRANC 2 0 . 9 5 0 0 2 0 . 9 4 0 0 2 0 . 6 5 0 0 2 0 . 5 8 0 0 2 0 . 5 2 0 0 GERMANY D. MARK 4 9 . 2 7 0 0 4 9 . 5 7 0 0 4 9 . 4 6 0 0 4 9 . 2 6 0 0 4 6 . 5 4 0 0 INDIA RUPEE 1 2 . 3 5 0 0 1 2 . 3 5 0 0 1 2 . 3 5 0 0 1 2 . 3 5 0 0 1 2 . 3 5 0 0 IRELAND POUND 1 9 3 . 7 0 0 0 1 9 3 . 7 0 0 0 1 9 3 . 4 3 0 0 1 9 2 . 6 0 0 0 1 9 0 . 1 5 0 0 ITALY LIRA 0 . 1 1 7 2 0 0 . 1 1 7 1 5 0 . 1 1 7 0 0 0 . 1 1 6 9 0 0 . 1 1 5 9 0 JAPAN YEN 0 . 4 2 3 0 0 0 . 4 2 4 5 0 0 . 4 2 6 6 0 0 . 4 2 5 5 0 0 . 4 2 3 9 0 MALAYSIA DOLLAR 4 2 . 5 2 0 0 4 2 . 4 6 0 0 4 2 . 5 0 0 0 4 2 . 5 0 0 0 4 2 . 4 4 0 0 MEXICO PESO 4 . 3 9 5 0 4 . 3 9 5 0 4 . 3 9 5 0 4 . 3 9 5 0 4 . 3 9 5 0 NETHERLANDS GUILDER 4 6 . 1 4 0 0 4 6 . 3 4 0 0 4 6 . 3 3 0 0 4 6 . 1 0 0 0 4 5 . 5 5 0 0 NEW ZEALAND DOLLAR 1 0 2 . 3 5 0 0 1 0 2 . 3 5 0 0 1 0 2 . 6 0 0 0 1 0 2 . 4 5 0 0 1 0 1 . 9 0 0 0 NORWAY KRONE 1 6 . 8 1 0 0 1 6 . 8 9 0 0 1 6 . 8 0 0 0 1 8 . 9 5 0 0 1 6 . 5 8 0 0 PORTUGAL ESCUDO 2 . 4 5 7 5 2 . 4 4 7 5 2 . 4 6 2 5 2 . 4 4 5 0 2 . 4 7 0 0 SOUTH AFRICA RAND 1 1 5 . 0 5 0 0 1 1 5 . 0 5 0 0 1 1 5 . 0 5 0 0 1 1 5 . 0 5 0 0 1 1 5 . 0 5 0 0 SPAIN PESETA 1 . 2 4 5 6 1 . 2 4 6 6 1 . 2 4 9 4 1 . 2 4 7 0 1 . 2 4 4 0 SRI LANKA RUPEE 6 . 5 0 0 0 6 . 5 0 0 0 6 . 5 0 0 0 6 . 5 0 0 0 6 . 5 0 0 0 SWEDEN KRONA 2 1 . 6 9 0 0 2 1 . 6 3 0 0 2 1 . 6 8 0 0 2 1 . 6 6 0 0 2 1 . 5 3 0 0 SWITZERLAND FRANC 5 3 . 2 5 0 0 5 3 . 2 2 0 0 5 2 . 6 6 0 0 5 0 . 7 6 0 0 5 1 . 1 0 0 0 UNITED KINGDOM POUND 1 9 3 . 7 0 0 0 1 9 3 . 7 0 0 0 1 9 3 . 4 3 0 0 1 9 2 . 6 0 0 0 1 9 0 . 1 5 0 0


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Selected Interest & Exchange Rates...1978/03/13 · f\U U8»^l= S0* % 5y 1978 cer^ Selected Interest & Exchange Rates Weekly Series of Charts March 13, 1978 Prepared by the FINANCIAL