Selected Interest & Exchange Rates

HHd ' " 1 Selected Interest & Exchange Rates Weekly Series of Charts # April 1,1979 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. 3MONTH FORWARD EXCHANGE RATES 3. GOLD PRICELONDON. CALL MONEY RATES 5. 3MONTH INTEREST RATES. EURODOLLAR DEPOSIT RATES 7. SELECTED EURODOLLAR AND U.S. MONEY MARKET RATES a INTEREST ARBITRAGE: 3MONTH FUNDS 9. LONGTERM GOVERNMENT BOND YIELDS. INDUSTRIAL STOCK INDICES 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, $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 1973=0 0 RATIO SCALE MARCH 1973=0 0 0 0 0 FOREIGN CURRENCY PRICE OF U.S. DOLLAR CANADIAN DOLLAR 0 0 0 10 GERMAN MARK FRENCH FRANC 0 0 I I I I I I iiiiiimii, Illlllllll" 10 JAPANESE YEN 0 X SWISS FRANC K l y. y f V VN 0 0 Tm I I I lh7 M^TTTrTi DUTCH GUILDER BELGIAN FRANC 0 0 0 ~v. U.K. POUND A j ITALIAN LIRA \, ~ 0 1 1 1 I I I I IlllllI I I 1977 1979 1977 1979

CHART 2 3MONTH FORWARD EXCHANGE RATES PREMIUM (+) OR () AVERAGES FOR WEEK ENDING WEDNESDAY PER CENT PER ANNUM PER CENT PER ANNUM CANADIAN DOLLAR ITALIAN LIRA T i l I I I I h~ U. K. POUND DUTCH GUILDER 1 GERMAN MARK V.. SWISS FRANC / W M I 1 1 1 1 llllillllli Ml, I I i I n i FRENCH FRANC JAPANESE YEN J V i i i I I I I I I I I I I I I I I 1977 1979 1977 1979

CHART 3 PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY U.S. DOLLARS PER FINE OUNCE 20 U.S. DOLLARS PER FINE OUNCE 20 20 20 220 220 200.5 Kg BARS AFTERNOON FIXING PRICE 200 10 10 0 0 0 0 197 1977 197 1979

CHART CALL MONEY RATES WEEKLY SERIES PER 1 :ENT PER ANNUM PER CENT PER AL OVERNIGHT EURODOLLARS JAPAN U.S. FEDERAL FUNDS 2 I I I I I I 1 U.K. 2DAY LOCAL AUTHORITY NETHERLANDS 9 0 FRANCE CANADA y V yv* i i i 1 1 1 GERMANY EUROSWISS FRANC 0 EURO dmmjv Mill 1977 1979 1977 1979

CHART 5 3MONTH INTEREST RATES WEEKLY SERIES PER CENT PER ANNUM 1 PER CENT PER ANNUM 1 U.K. INTERBANK STERLING U.S. CD'S WEIGHTED AVERAGE FOREIGN RATE ^"1 JAPANESE BANK h LOANS AND DISCOUNTS GERMAN INTERBANK RATE 2 1 1 1 1 1 1 I I I 13. CANADIAN FINANCE CO. PAPER X ; SWISS INTERBANK RATE 1 1 1 1 1 1 I I I I I I I 1977 1979 1977 1979

CHART EURODOLLAR DEPOSIT RATES AVERAGES FOR WEEK ENDING WEDNESDAY LONDON PER :ENT PER ANNUM PER CENT PER AN OVERNIGHT 3MONTH I I I I II I I I i I I I I I I I I I M I I I I 11111111111 iiliiliiln 7DAY MONTH J I I I I II II I I I I I I I II II I I I I I I 11111111111 11111 i 11111 " 1MONTH 1YEAR / X 11 H I III III 1111II iiiiilnlii nl n In In 1977 1979 1977 1979

CHART 7 SELECTED EURODOLLAR AND U. S. MONEY MARKET RATES AVERAGES FOR WEEK ENDING WEDNESDAY PER CENT PER ANNUM PER CENT PER ANNUM OVERNIGHT EURODOLLAR DEPOSITSV/ FEDERAL FUNDS DASHED LINE t^vx I \ \ If J/ * J / I A \VV w I \ % 3MONTH I EURODOLLAR DEPOSITS f t L. d / f / / W V \ V \J*\ k A \. N' J I // X^A ZW/ 90DAY CD'S A / V / ; V X. I S^J DASHED LINE W 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 1 1 1 1 1 1 1 1 1 1 1 11111 111 11 I I DIFFERENTIAL DIFFERENTIAL 1 ADJUSTED FOR RESERVE REQUIREMENTS Digitized for FRASER 1977 FAVORS BORROWING IN U. S. IF POSITIVE 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 I I I I I I I I I I I I I I I 1979 1977 1979

CHART INTEREST ARBITRAGE: 3MONTH FUNDS DIFFERENTIAL: PLUS(+), INDICATES FAVOR DOLLAR ASSETS AVERAGES FOR WEEK ENDING WEDNESDAY PER :ENT PER ANNUM PER CENT PER M 1 1 EURODOLLAR DEPOSITS CANADIAN FINANCE CO. PAPER, COVERED INTERBANK STERLING + 0 COVERED LONDON U.S. COMMERCIAL PAPER + 0 DIFFERENTIAL V A^y / V W^ DIFFERENTIAL V 1 + 0 2 1 1 1 1 SWISS INTERBANK (SF) COVERED INTERBANK DM COVERED FRANKFURT fv/ / EURODOLLAR DEPOSITS EURODOLLAR DEPOSITS DASHED LINE 2 + 0 DIFFERENTIAL DIFFERENTIAL + 0 2 1977 1979 1977 1979

CHART 9 LONGTERM GOVERNMENT BOND YIELDS WEEKLY SERIES PER ;ENT PER ANNUM PER CENT PER AL UNITED STATES 11 CANADA 9 I I I I I I 111 i 1111111 lljlllllill 7 7 V SWITZERLAND 5 3 GERMANY 13 I I I I I I 1 1 11 FRANCE UNITED KINGDOM 1 9 7 NETHERLANDS 5 11 U. S. CORPORATE MONTHLY 9 EURODOLLAR BONDS U. S. CORPORATE MONTHLY 7 Aaa BONDS 5 1_L EURODM BONDS i i i ii 1977 1979 1977 1979

I CHART INDUSTRIAL STOCK INDICES WEEKLY SERIES RATIO SCALE 199=0 RATIO SCALE 199=0 200 0 UNITED STATES 0 ( UNITED KINGDOM 0 I I I 11 l ii hi lii iiiiiiiiiii 30 320 : i 20 JAPAN vw : 20 ^ / 200 I I I H 0 ' SWITZERLAND CANADA y V 0 0 150 130 ' FRANCE GENERAL INDEX /J A ~ 1 ; GERMANY 90 70 I I I I I I iiiiiiiiiii ; 1977 1979 1977 1979 Digitized for FRASER #

SERIES NAME LAST VALUE PLOTTED DATE VALUE CHART 1. SPOT EXCHANGE RATES AND INDICES WEEKLY AVERAGES, NOON BUYING RATES (U.S. CENTS) GERMAN MARK APRIL 52.75 JAPANESE YEN APRIL 11 0.735 DUTCH GUILDER APRIL 11.9 U.K. POUND APRIL 11 209. CANADIAN DOLLAR APRIL 7.07 FRENCH FRANC APRIL 23.00 SWISS FRANC APRIL 11 5.2 BELGIAN FRANC APRIL 11 3.33370 ITALIAN LIRA APRIL 11 0.117 INDICES, MARCH 1973 BASE RATES = 0 GERMAN MARK APRIL 11 1.3 JAPANESE YEN APRIL 11 2.37 DUTCH GUILDER APRIL 11.50 U.K. POUND APRIL 11.5 CANADIAN DOLLAR APRIL 11.7 FRENCH FRANC APRIL 11 3. SWISS FRANC APRIL 11 17.3 BELGIAN FRANC APRIL 11 131.3 ITALIAN LIRA APRIL 11 7. WEIGHTED AVERAGE EXCHANGE VALUE INDICES, MAR 1973 = 0 CG COUNTRIES PLUS SWITZERLAND! U.S. DOLLAR APRIL 11 9.22 GERMAN MARK APRIL 11 1.00 JAPANESE YEN APRIL 11 113.3 DUTCH GUILDER APRIL 11 130.9 U.K. POUND APRIL 11 75.29 CANADIAN DOLLAR APRIL 11 77.92 FRENCH FRANC APRIL 11 9.1 SWISS FRANC APRIL 11 173.95 BELGIAN FRANC APRIL 11 1.25 ITALIAN LIRA APRIL 11 59. SWEDISH KRONA APRIL 11 91.9 CHART 2. 3MONTH FORWARD EXCHANGE RATES, PREMIUM OR DISCOUNT Digitized for FRASER CANADIAN DOLLAR APRIL 11 0.2 U.K. POUND SPSLL 11 O! GERMAN MARK APRIL 11 5.53 FRENCH FRANC APRIL 11 2.77 SWISS FRANC APRIL 11.2 DUTCH GUILDER APRIL 11 3.0 JAPANESE YEN APRIL 11 5.53 ITALIAN LIRA APRIL 11 1.9

LAST VALUE PLOTTED SERIES NAME DATE VALUE CHART 3. GOLD PRICE IN LONDON, AFTERNOON FIXING U.S. DOLLARS PER FINE OUNCE APRIL 11 239.7. CALL MONEY RATES ' U.S. FEDERAL FUNDS APRIL 11 9.3 OVERNIGHT EURODOLLAR DEPOSITS APRIL 11.20 U.K. 2DAY LOCAL AUTHORITY DEPOSITS APRIL 11.50 CANADA MARCH 30 11. GERMANY APRIL 5.35 EUROOM APRIL.9 JAPAN APRIL.9 FRANCE APRIL.50 NETHERLANDS MARCH 23 5.50 EUROSWISS FRANC APRIL 0.21 5. 3MONTH INTEREST RATES U.S. 90DAY CD'S, SECONDARY MARKET APRIL 11.09 GERMAN INTERBANK LOAN APRIL 11 5.55 JAPANESE BANK LOANS & DISCOUNTS APRIL 11 5.02 CANADIAN FINANCE PAPER APRIL 11 11. INTERBANK STERLING APRIL 11 11.3 SWISS INTERBANK LOAN APRIL 11 0.7 WEIGHTED AVERAGE FOREIGN INTEREST RATE APRIL 11.7 CHART. EURODOLLAR DEPOSIT RATES: LONDON OVERNIGHT APRIL 11.20 7DAY APRIL 11.1 1MONTH APRIL 11.3 3MONTH APRIL.53 MONTH APRIL 11. 1YEAR APRIL 11.51. SELECTED EURODOLLAR AND U.S. MONEY MARKET RATES OVERNIGHT EURODOLLAR DEPOSITS APRIL 11.20 U.S. FEDERAL FUNDS APRIL 11 9.3 DIFFERENTIAL ADJ. FOR RESERVE REQUIREMENTS APRIL 11 0.2 3MONTH EURODOLLAR DEPOSIT RATE APRIL 11.53 U.S. 90DAY CD'S, SECONDARY MARKET APRIL 11.09 DIFFERENTIAL APRIL 11 0.

e Digitized for FRASER SERIES NAME LAST VALUE PLOTTED DATE VALUE CHART. INTEREST ARBITRAGE, 3MONTH FUNDS w e EURODOLLAR DEPOSIT APRIL 11.53 INTERBANK STERLING (LONDON), COVERED APRIL 11.50 DIFFERENTIAL APRIL 11 0.02 U.S. COMMERCIAL PAPER APRIL 11 9.97 CANADIAN FINANCE PAPER, COVERED APRIL 11.70 DIFFERENTIAL APRIL 11 0.73 EURODOLLAR DEPOSIT APRIL 11.53 INTERBANK DM (FRANKFURT), COVERED APRIL 11 11.0 DIFFERENTIAL APRIL 11 0.55 EURODOLLAR DEPOSIT APRIL 11.53 SWISS INTERBANK, COVERED APRIL 11 11.29 DIFFERENTIAL APRIL 11 0.77 CHART 9. LONG TERM GOVERMENT BOND YIELDS # UNITED STATES APRIL 9.09 GERMANY MARCH 30.9 JAPAN (MONTHLY) MARCH.95 SWITZERLAND MARCH 30 3.22 CANADA MARCH 30 9.91 FRANCE FEB. 1 9.9 e NETHERLANDS MARCH 23.20 UNITED KINGDOM APRIL.33 U.S. CORPORATE AAA BONDS MARCH 9.37 EURODM BONDS DEC..3 EURODOLLAR BONDS FEB..1 CHART. INDUSTRIAL STOCK INDICES UNITED STATES JAPAN CANADA FRANCE UNITED KINGDOM SWITZERLAND GERMANY APRIL MARCH DEC. FEB. MARCH MARCH MARCH 2 29 9 9 2 30.3 295.? 113.1.2 2.77 0.02 2.52

F E D E R A L R E S E R V E statistical r e l e a s e H.(5) FOREIGN EXCHANGE RATES FOR THE WEEK ENDING APRIL 13, 1979 APRIL 1, 1979 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 (RATE U.S. CENTS! UNIT APR. APR. APR. 11 APR. APR. 13 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 111.3000 7.153 3.32005.9339 1.9072 2.913 22.935 52.797.2000 201.500 0.1150 0.3.9539.375.757 5.000 19.379 2.0500 11.0000 1.5.550 22.7092 57.9307 209.500 111. 300 7. 177 3. 32557 7. 2753 1. 935 25. 0219 22. 93 52. 399. 2000 201. 7500 0. 117 0. 700 5. 050. 375. 7757 135. 500 19. 77 2. 0521 11. 0000 1. 573. 22. 5. 2. 550 773 2 2503 111.1500 7.171 3.3295 7.1992 1..9753 25.. 009 22..95 52..793..2000 201..5000 0..11 0..3 5. 135. 37. 00 5. 500 19. 72 2. 053 11. 0000 1. 575. 550 22. 25 5. 29 209. 0000 1. 7. 3. F7. 1. 2. 22. 52.. 201. 0. 0. 5... 5. 19. 2. 117. 1.. 9200 159 3175 21 903 999 93 572 2000 3500 1155 350 053 373 5909 2000 33 0513 500 2 550 22. 753 57. 771 207. 500 1.7300 7.159 3.3155 7.32 1.95 2..990 22..571 52..57 V.3000 201..3500 0..111 0..31..93..373..5319..9000 19..552 2..092 117..000 1. 1. 00 22. 753 57. 202 20. 0000