Selected Interest & Exchange Rates

(51/517) Selected Interest & Exchange Rates December 1, 19 Prepared by the FINANCIAL MARKETS SECTION DIVISION OF INTERNATIONAL FINANCE BOARD OF GOVERNORS FEDERAL RESERVE SYSTEM Washington, D.C. 20551

Table of Contents TABLES 1. LATEST FIGURES PLOTTED 2. DAILY CERTIFIED SPOT EXCHANGE RATES-- H. RELEASE CHARTS 1. SPOT EXCHANGE RATE INDICES 2. 3-MONTH FORWARD EXCHANGE RATES 3. GOLD PRICE-LONDON SUBSCRIPTION RATES: Weekly $15.00 per year or $.0 each in the United States, its possessions, Canada, and Mexico; or more of the same issue to one address, $13.50 per year or $.35 each. Elsewhere, S20.00 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 the Federal Reserve Sysier collectible at par jrrency.. CALL MONEY RATES 5. 3-MONTH INTEREST RATES. EURO-DOLLAR DEPOSIT RATES 7. SELECTED EURO-DOLLAR AND U.S. MONEY MARKET RATES. INTEREST ARBITRAGE: 3-MONTH FUNDS 9. LONG-TERM GOVERNMENT BOND YIELDS. INDUSTRIAL STOCK INDICES

CHART 1 SPOT EXCHANGE INDICES DOLLAR PRICES OF FOREIGN CURRENCIES AND WEIGHTED AVERAGE VALUES (THIN LINE) AVERAGES FOR WEEK ENDING WEDNESDAY RATIO SCALE MARCH 1973=0 RATIO SCALE MARCH 1973=0 FOREIGN CURRENCY PRICE OF U.S. DOLLAR ITALIAN LIRA GERMAN MARK JAPANESE YEN CANADIAN DOLLAR DUTCH GUILDER U.K. POUND FRENCH FRANC I l!! I I I I I I! I I! I I I I I BELGIAN FRANC SWISS FRANC 19S 19

CHART 2 3-MONTH FORWARD EXCHANGE RATES PREMIUM (+) OR H AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER ANNUM CANADIAN DOLLAR JAPANESE YEN PERCENT PER ANNUM A W - I I I I I I I I I! I I I I I U. K. POUND SWISS FRANC I I I I I I 111 ill ill 11 GERMAN MARK DUTCH GUILDER X / V ^ y I I I I I I! I!! I I!!! I i I!! I I I I I! I I! I FRENCH FRANC ITALIAN LIRA "W - 1 2 I!! I I I I I I! I 32 I ;S 1S 19 19

CHART 3 PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY U.S. DOLLARS PER FINE OUNCE 520 u - s - DOLLARS PER FINE OUNCE 520 500 500 0 0 0 0 0.5 Kg BARS AFTERNOON FIXING PRICE 0 20 20 00 00 30 30 30 30 30 320 300 300 20 20 20 20 15 155

CHART CALL MONEY RATES WEEKLY SERIES PERCE 20 r PER ANNUM PERCENT PER ANNUM 20 1 U. S. FEDERAL FUNDS FRANCE JAPAN 0 20 1 SWITZERLAND CANADA 0 20 1, ED KINGDOM GERMANY r\j NETHERLANDS ^wvvvn* X 0 19 19

CHART 5 3-MONTH INTEREST RATES WEEKLY SERIES NT PER ANNUM PERCENT PER Ah 1 U.S. CD'S CANADIAN FINANCE CO. PAPER WEIGHTED AVERAGE FOREIGN RATE 1 U.K. INTERBANK STERLING I FRENCH INTERBANK RATE I I I 11111111! M 111111111! 11 GERMAN INTERBANK RATE NETHERLANDS INTERBANK RATE y /v - 2 2 7 JAPANESE GENSAKi RATE SWISS INTERBANK RATE 5 5 2 0 53

CHART EURO-DOLLAR DEPOSIT RATES LONDON AVERAGES FOR WEEK ENDING WEDNESDAY NT PER ANNUM PERCENT PER AN OVERNIGHT 3-MONTH r~ 7-DAY -MONTH - -! V x! i l! 1 1 I! 1 1 1 1!! I 1-MONTH 1-YEAR f v, J \ A Vv VVvw- 19

CHART 7 SELECTED EURO-DOLLAR AND U. S. MONEY MARKET RATES DIFFERENTIAL: PLUS<+), FAVORS BORROWING IN U. S. AVERAGES FOR WEEK ENDING WEDNESDAY Pf RCfNl P[ n ANNUM 1 PERCENT PER ANNUM 1 FEDERAL FUNDS DASHED I INF. 3-MONTH EURO-DOLLAR DEPOSITS OVERNIGHT EURO -run L AR DFTO 90-DAY CD S J I 1 I I I I 1 LLLLLLJJ 111111111111111 I I I I I I I DIFFERENTIAL DIFFERENTIAL i i i 1111111111111111111111111 I I i I I I I I ii 1111 M I ii 11111111111 19 19 19 19 1 PERCENT ON [)IEI ERENTlAl SCALE =? I'f RCENT ON RATE SCALE

CHART INTEREST ARBITRAGE: 3-MONTH FUNDS DIFFERENTIAL: PLUS(+), INDICATES FAVOR DOLLAR ASSETS AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER ANNUM 1 PERCENT PER ANNUM 1 EURO-DOLLAR DEPOSITS DASHED LINE CANADIAN FINANCE CO. PAPER, COVERED - INTERBANK STERLING COVERED LONDON U. S. COMMERCIAL PAPER llll11ii!iilllllli M I II ll I i DIFFERENTIAL Uirr tncntlal 2! i I t : I ; i I i ll 2 1 1 INTERBANK DM COVERED FRANKFURT SWISS INTERBANK (SF) COVERED.AR DEPOSITS - V \ / r DIFFERENTIAL i r DIFFERENTIAL i 9

CHART 9 LONG-TERM GOVERNMENT BOND YIELDS WEEKLY SERIES PEP ENT PER ANNUM PEACES' PEP A! 1 UNITED STATES CANADA 1 - - I I I I I I I I I I I I I I I I I I I I I I I I I 15 9 13 UNITED KINGDOM SWITZERLAND 7 11 5 9 3 7 j!! Ill II 1 GERMANY JAPAN 17 U. S. CORPORATE MONTHLY 17 A & BON FRANCE 15 13 13 11 NETHERLANDS 11 7 7 5 19 195 5

CHART INDUSTRIAL STOCK INDICES WEEKLY SERIES RATIO SCALE 199=0 RATIO SCALE 199=0 UNITED STATES UNITED KINGDOM NETHERLANDS - SWITZERLAND / - 315 20 25 2 175 0 5 I 1!!!! 70, A 50 00 350 'A/ 250 FRANCE ERMANY 200 150 JAPAN CANADA 50 00 350 300 250 M200 150 0

SERIES NAKE LAST VALUE PLOTTED DATE VALUE CHART 1. SPOT EXCHANGE BATES AND INDICES WEEKLY AVERAGES, NOON doximg BATES (U.S. CENTS) GEtiMAM HARK JAPANESE TEN DUTCH GUILDER U.K. POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC s LGIAN FRANC ITALIAN LIRA SWEDISH KRONA INDICES, BARCH 1973 BASE.SATES = 0 NOV. 2 NOV. 2 NOV. 2 NOV. 2 NOV. 2 NOV. 2 NOV. 2b NOV NOV 2 2 NOV. 2 9. 0.. 2. 7 2. 15. 59. 2. 0.. 3 0 0 1 22 73 39 703 0719 39 GERMAN MARK NOT. 2 0. 17 JAPANESE YEN for. 2 1 0. 35 DUTCH GUILDER NOV. 2. 1 U.K. POUND NOV. 2 57. 7 CANADIAN DOLLAR NOV. 2 71. 92 FRENCH FRANC NOV. 2. 5 SWISS FRANC NOV. 2 192. 15 BELGIAN FRANC NOV. 2 9. 5 ITALIAN LIRA NOV. 2 0. 7 1GHTED AVERAGE EXCHANGE VALUE INDICES, MAR 1973 = 0 (G- COUNTRIES PLUS SWITZERLAND) U.S. DOLLAR GERMAN MARK JAPANESE YEN DUTCH GUILDER U.K. POUND CANADIAN DOLLAR FRENCH FRANC SWISS FRANC oalgias FEAh'C ITALIA! LIRA SWEDISH KBOHA SOV. 2b NOV. 2 NOV. 2 SOV. 2 NOV. 2 NOV. 2 NOV. 2b HOT. 2 MOT. 2 o NOV. 2 NOV. 2 7. 3 1 0.22 10.7 13.70 57.7 7. 9 9.93 20 7. 9 9 9.93 0.55.5 CHART 2. 3-MONTH FORWARD EXCHANGE, PREMIUM OR DISCOUNT CASADIAK i/ollar J. K. POUND GZKfiAN MARK FRENCH FRANC SWISS FRANC DUTCH GUILDER JAPANESE XEH ITALIAN LISA HOT. 2-2. 3 NOT. 2-5. 05 NOV. 2 1. 32 NOV. 2-2. 07 NOV. 2 2. NOV. 2 0. MOV. 2 1. 9 NOV. 2 -. 57

SERIES NAME LAST VALUE PLOTTED DATE VALUE CHART 3. GOLD PRICE IM LONDON, AFTERNOOE FIXING U.S. DOLLARS PER FINE OUNCE NOV. 2 35.0 CHART. CttLL MONET RATES U.S. FEDERAL FUNDS NOV. 2.00 OVERNIGHT EURO-DOLLAR DEPOSITS NOV. 2 5. 9 U. K. NOV. 2 9-9 CANADA NOV. 2 7.75 GERMANY NOV. 2.32 JAPAN NOV. 2 3.55 FRANCE NOV. 2 7.0 NETHERLANDS NOV. 2 5.50 SWITZERLAND NOV. 2 3. 20 CHART 5. j-wonth INTEBEST RATES U.S. 90-DAI CD'S, SECONDARY HARKET NOV. 2 5.7 GERMAN INTERBANK LOAN NOV. 2.70 JAPANESE GENSAKI RATE NOV. 2.1 CANADIAN FINANCE PAPER NOV. 2.32 INTERBANK STERLING NOV. 2 1 1.25 SWISS INTERBANK LOAN NOV. 2 3. FRENCH INTERBANK RATE NOV. 2b 7.51 NETHERLANDS INTERBANK RATE NOV. 2» 5. 0 SIGHTED AVERAGE FOREIGN INTEREST RATE NOV. 2o. o ;G- COUNTRIES PLUS SWITZERLAND) CHAHi b. iliso-dollar DEPOSIT RATES: LONDON OVERNIGHT NOV. 2 5. 9 7-DAY HOY. 2 5. S* 1-MONTH NOV. 2 5. 9 3-MONTH NOV. 2 5.99 -MONTH NOV, 2 5.95 WEAR NOV. 2.00. SELECTED EURO-DOLLAR AND U.S. MONEY MARKET KATES OVERNIGHT EURO-DOLLAR DEPOSITS NOV. 2b 5.9c U.S. FEDERAL FUNDS NOV. 2.00 DIFFERENTIAL NOV. 2-0. 0 3-MUNTH EURO-DOLLAR DEPOSIT RATE NOV. 2 5.99 U.S. 90-DAY CD'S, SECONDARY MARKET NOV. 2 5.7 DIFFERENTIAL HOT. 2o Q. 23

SERIES NAME LAS I VALUE PLOTTED DATE VALUE CHAfi'i o. IMTEEEST AEBITEAGE, 3-MONTH FUNDS EUEG-DOLLAE DEPOSIT NOV. 2 5. 99 INTERBANK STEELING (LONDON), COVEfiED NOV. 2. 0 DIFFEEEMTIAL NOV. 2-0. 07 U.S. COHMEECIAL tapem. NOV. 2 5. 79 CANADIAN FINANCE PAPEE, COVEHED NOV. 2 5. 93 DIf'FEEENTIAL NOV. 2-0. EUEO-DOLLAR DEPOSIT NOV. 2 5. 99 INTERBANK Dfi (FfiAtiKFUET), COVEEED MOV. 2. 0 DIFFEEEMTIAL NOV. 2-0. 05 EUHO-DOLLAE DEPOSIT NOV. 2 5. 99 SkiSS INTERBANK, t-ovebed NOV. 2t>. 03 DIFFEEEMTIAL NOV. 2-0. 05 CHART 9. LONG TEEM GOVEEMEMT BOND YIELDS UNITED STATES MOV. 21 7. 21 GERMANY NOV. 21. 00 JAPAN (HONTHLJ) NOV. 21. 0 SWITZERLAND NOV.. 15 CANADA NOV. 21 9. 30 FBAHCE NOV. 21 9. KilHifeL Ai'DS (20HIHLX) OCT.. 22 UN II ED KliiGDOH NOV. 21. 39 U.S. COftPCBATB AAA BONDS JUNE 9.13 CEial. STOCK INDICES SITED STATES UNITED KINGDOM CA&'ADA GEEHAMI SilTiEELAND SETHZklA&DS FRANCS JAPAii NOV. 19 2. 39 NOV. 19 27. 75 MOV. 19 29 7. 13 MOV. 19 22.2 NOV. 19 191. 01 b'ov. 19 33. 13 MOV. 19 30. NOV. 19 37. 7

FEDERAL RESERVE statistical release H. (5) FOREIGN EXCHANGE RATES NOVEMBER 2, 19 rot. THE MEEK ENDING NOVEMBER 2, 19 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 rates In New York City for cable transfers payable In foreign currencies: COUNTRY MONETAE! (CURRENCY OMITS PEB DOLLAE) OKU NO*. 2* NOV. 25 NOV. 2 NOV. 27 NOV. 2 AUSTRALIA DOLLAR.52.75 5. 05 5.0 AUSTRIA SCHILLING.217.035.020 13.9 BELGIUM FRANC 1.990 1.0 1.00 1.050 BRAZIL CRDADO.09.09.09.20 CAM AX) A DOLLAR 1.359 1.35 1.353 1.30 CHINA,P.h. XOAN J.73 3.73 3. 73 3.73 DBNBAEK KEOKE 7.30 7.500 7.5350 E 7.575 FINLAND MARKKA.950.9150.9200.90 FRANCE FRANC.090.53.5235.550 GEESAHI D. MARK 2.0195 1.9935 1.9915 0 1.9730 GREECE DRACHMA 139.750 13.150 13.050 137.700 HONG KONG DOLLAR 7.795 7.70 7.70 7.75 INDIA RUPEE 13.00 13.00 13.10 L 13.00 *IEELAND POUND 13.92 13.50 13.0 137.7 ITALI LIRA 1399.00 131.00 130.00 13.00 JAPAN TEN.1.55 2.95 1.05 MALAYSIA IKGGIT 2.070 2.035 2.035 2.020 NETHERLANDS GUILDER 2.( 2.250 2.295 2.23 *NE ZEALAND DOLLAR 51.750 52.000 52.00 D 51.00 KO&WAI KECKS 7.=350 7.500 7.500 7.51 PORTUGAL ESCODO 9.9O0.550.300 7.00 SINGAPORE DOLLAR 2.195 2.190 2.130 A 2.1955 SOOTH AFRICA RAND.22.30.0 5.05 SOUTH KOREA tfo *72.0 72.90 71.50 70.30 SPAIN PESETA 135.50 135.50 13.50 X 133.90 SRI LAIKA ROPES 2.90 2. 2.2 2.50 SB3EE KRONA.9790.90.9225.775 SUTHERLAND FRANC 1.900 1.595 1.00 1.30 TAISAN DOLLAR 3o.3b0 3.350 3o.30 A THAILAND BAsT! 2.3 :.300 1 zc.250 2b.2o0 *3KITED KIH3D0E POUND 1.03 1-2.22 3. 15 3.35 MEMO: OSITED STATES DOLLAR 7.9.9.7 0.25.0 INDEXtii 1EIGH! ttio AWt&AGE EXCHANGE VALUE Of O.S. DOLLAE AGAINST uuiuusatu.jss or OIHEM ti-iu COONTBIES. MARCH 1973 = 0. EIGHTS A EE 1972-7 GLOBAL TRADE OF EACH OF THE COUNTRIES. SEEIBS B7ISSD AS Of AUGUST 1*7. FOE DBSC1PTIOE LED SACK DATA, SEE «Ifci> X Of IEE ssigeted-ateeage EXCHANGE TtLUE Of THE U.S. OOLLAE: EETISiOM" OK PAGE 700 Of SHE AuGuST 197 FEDERAL RUSERYB BDLLSTIfi. VALUE IS O.S. CENTS