(5/517* Selected Interest & Exchange Rates Weekly Series of Charts > July 27, 191 Prepared by the FINANCIAL MARKETS SECTION DIVISION OF INTERNATIONAL FINANCE BOARD OF GOVERNORS FEDERAL RESERVE SYSTEM Washington, D C. 551
Table of Contents TABLES 1. LATEST FIGURES PLOTTED 2. DAILY CERTIFIED SPOT EXCHANGE RATES H.1 RELEASE CHARTS 1. SPOT EXCHANGE RATE INDICES 2. 3MONTH FORWARD EXCHANGE RATES 3. GOLD PRICE LONDON. CALL MONEY RATES 5. 3MONTH INTEREST RATES 6. EURODOLLAR DEPOSIT RATES 7. SELECTED EURODOLLAR AND U.S. MONEY MARKET RATES. INTEREST ARBITRAGE: 3MONTH FUNDS 9. LONGTERM GOVERNMENT BOND YIELDS 1. INDUSTRIAL STOCK INDICES SUBSCRIPTION RATES: Weekly $15. per year or $. each in the United States, its possessions, Canada, and Mexico; 1 or more of the same issue to one address, $13.5 per year or $.35 each. Elsewhere, $. per year or $.5 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= RATIO SCALE MARCH 1973= r J FOREIGN CURRENCY PRICE OF U.S. DOLLAR U.K. POUND,,., 11,11 ~ FRENCH FRANC GERMAN MARK 1 X JAPANESE YEN \v\ ~ SWISS FRANC " I I I I I I I I I I I III I I BELGIAN FRANC 1 \f V A 1 DUTCH GUILDER ""'X'"" v \Vv i i i I I I 11111 i 11111 I I I I i I I I I I I I I i 11111111111 ITALIAN LIRA 6 CANADIAN DOLLAR I r ~ < i \ r \ v x~ 6 i i i I I I I I III I I I 11111111111 11111111111 ii In l u l u 1979 19&1 1979 191
CHART 2 3MONTH FORWARD EXCHANGE RATES PREMIUM (+) OR () AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER ANNUM 6 PERCENT PER ANNUM 2 CANADIAN DOLLAR A A ITALIAN LIRA 2 U. K. POUND DUTCH GUILDER I. \fla V 6 I I I i ill i hili i 6 1 GERMAN MARK SWISS FRANC I A I I I I I I FRENCH FRANC JAPANESE YEN + 1979 191 1979 191
CHART 3 PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY U.S. c LLARS PER FINE OUNCE U.S. DOLLARS PER FINE OUNCE 75 75 7 7 65 65 6 6 55 55 5 5.5 Kg BARS 5 AFTERNOON FIXING PRICE 5 35 35 3 3 25 25 15 15 I I I I I I I I I I I I I I I I 197 1979 19 191
CHART CALL MONEY RATES WEEKLY SERIES 2 NT PER ANNUM PERCENT PER AL 2 2 2 U. S. FEDERAL FUNDS U. K. 2DAY LOCAL AUTHORITY 2 2 CANADA EUROSWISS FRANC NETHERLANDS + + 2 2 FRANCE GERMANY \ k f t f JAPAN i I ' i i i 1979 191 1979 191
CHART 5 3MONTH INTEREST RATES WEEKLY SERIES > NT PER ANNUM PERCENT PER AN U. S. CD' S U.K. INTERBANK STERLING WEIGHTED AVERAGE FOREIGN RATE 22 1 CANADIAN FINANCE CO. PAPER GERMAN INTERBANK RATE 1 1 6 JAPANESE BANK LOANS AND DISCOUNTS SWISS INTERBANK RATE IV ~ J \ 1 1979 191 1979 191
CHART 6 EURODOLLAR DEPOSIT RATES LONDON AVERAGES FOR WEEK ENDING WEDNESDAY ENT PER ANNUM PERCENT PER A! 2 2 OVERNIGHT 3MONTH 2 2 7DAY 6MONTH I I I I II I I I I I 2 2 1MONTH 1YEAR 1979 191 1979 191
CHART 7 SELECTED EURODOLLAR AND U. S. MONEY MARKET RATES DIFFERENTIAL: PLUS(+), FAVORS BORROWING IN U. S. AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER ANNUM 26 PERCENT PER ANNUM 26 FEDERAL FUNDS 3MONTH EURODOLLAR DEPOSITS OVERNIGHT EURODOLLAR DEPOSITS DAY CD I 1 1 1 i I I 1 1 1 1 DIFFERENTIAL DIFFERENTIAL WvV^ v/ 2 \AVV ZANOA ^ 1 1979 I I I I I I I I I I I 191 I I I I I 1111 I I 11 I I I 111111111 1979 191 1 PERCENT ON DIFFERENTIAL SCALE = 2 PERCENT ON RATE SCALE
CHART INTEREST ARBITRAGE: 3MONTH FUNDS DIFFERENTIAL: PLUSM. INDICATES FAVOR DOLLAR ASSETS AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER ANNUM 2 PERCENT PER ANNUM 2 EURODOLLAR DEPOSITS CANADIAN FINANCE CO. PAPER, COVERED INTERBANK STERLING COVERED LONDON U. S. COMMERCIAL PAPER DIFFERENTIAL DIFFERENTIAL ' W v A J w i y w : I I I I I I I I I I I 2 v ~~ (V7 INTERBANK DM COVERED FRANKFURT /W p Kr V V SWISS INTERBANK (SF) COVERED J Vv\ EURODOLLAR DEPOSITS EURODOLLAR DEPOSITS DIFFERENTIAL DIFFERENTIAL 2 I v y/vv\n jv/ vv / y V v \ I I I I I I I In 11 i ll 11111111 III III 11 1979 191 1979 191 1 PERCENT ON DIFFERENTIAL SCALE = 2 PERCENT ON RATE SCALE
CHART 9 '* LONGTERM GOVERNMENT BOND YIELDS WEEKLY SERIES 17 ENT PER ANNUM PERCENT PER AL WM 17 15 13 UNITED STATES /A ^ CANADA 15 13 11 11 9 Z 9 7 I I I uli i hili i 7 9 1 7 SWITZERLAND 5 GERMANY 6 3 1 13 MONTHLY 15 11 UNITED KINGDOM 13 9 11 7 9 5 7 1 U. S. CORPORATE MONTHLY 1 1 FRANCE 1 Aaa BONDS 1 1 EURODOLLAR BONDS NETHERLANDS 6 6 Digitized for FRASER 1979 191 1979 191
CHART 1 STOCK INDICES WEEKLY SERIES RATIO SCALE RATIO SCALE 1977= 1977= 1 UNITED STATES 1 JAPAN 1 1 UNITED KINGDOM SWITZERLAND 6 1 FRANCE 6 1 GERMANY 6 1 6 6 NETHERLANDS 5 1979 191 1979 191 9
SERIES NAME LAST VALUE PLOTTED DATE VALUE CHART 1. SPOT EXCHANGE RATES AND INDICES WEEKLY AVERAGES, NOON BUYING RATES (U.S. CENTS) GERMAN MARK JULY 22 1. 1 JAPANESE YEN JULY 22. 29 DUTCH GUILDER JULY 22 36., U.K. POUND JULY 22. 73 CANADIAN DOLLAR JULY 22 2.,75 FRENCH FRANC JULY 22 17.,2 SWISS FRANC JULY 22 7.,75 BELGIAN FRANC JULY 22 2.,5563 ITALIAN LIRA JULY 22.,23 INDICES, MARCH 1973 BASE RATES = GERMAN MARK JULY 22 115.35 JAPANESE YEN JULY 22 1.37 DUTCH GUILDER JULY 22 15.76 U.K. POUND JULY 22 75.53 CANADIAN DOLLAR JULY 22 2. FRENCH FRANC JULY 22 77. SWISS FRANC JULY 22 153.61 BELGIAN FRANC JULY 22 9.73 ITALIAN LIRA JULY 22 6. WEIGHTED AVERAGE EXCHANGE VALUE INDICES, MAR 1973 = (G1 COUNTRIES PLUS SWITZERLAND) U.S. DOLLAR JULY 22 19.9 GERMAN MARK JULY 22 9.65 JAPANESE YEN JULY 22 3.3 DUTCH GUILDER JULY 22 11.9 U.K. POUND JULY 22 79.63 CANADIAN DOLLAR JULY 22.2 FRENCH FRANC JULY 22 2.21 SWISS FRANC JULY 22 7.6 BELGIAN FRANC JULY 22 16.69 ITALIAN LIRA JULY 22 7.3 SWEDISH KRONA JULY 22 91.55 CHART 2. 3MONTH FORWARD EXCHANGE RATES, PREMIUM OR DISCOUNT CANADIAN DOLLAR JULY 22.53 O.K. POUND JULY 22.7 GERMAN MARK JULY 22 6.3 FRENCH FRANC JULY 22 3.5 SWISS FRANC JULY 22 9.25 DUTCH GUILDER JULY 22 6.3 JAPANESE YEN JULY 22 11.2 ITALIAN LIRA JULY 22 1.7
SERIES NAME LAST VALUE PLOTTED DATE VALUE CHART 3. GOLD PRICE IN LONDON, AFTERNOON FIXING U.S. DOLLARS PER FINE OUNCE JULY 22.65. CALL MONEY RATES U.S. FEDERAL FUNDS JULY 22 19.5 OVERNIGHT EURODOLLAR DEPOSITS JULY 22 1.71 U.K. 2DAY LOCAL AUTHORITY DEPOSITS JULY 17.3 CANADA JUNE 26 1.5 GERMANY JULY 17 11.5 EURODM JULY 1 11.77 JAPAN JULY 17 7.25 FRANCE JULY 17 1.25 NETHERLANDS JULY 1 11.5 EUROSWISS FRANC JULY 1 2.6 CHART 5. 3MONTH INTEREST BATES U.S. 9DAY CD'S, SECONDARY MARKET JULY 22 17. 9 GERMAN INTERBANK LOAN JULY 22. 9 JAPANESE BANK LOANS & DISCOUNTS JULY 22 7. CANADIAN FINANCE PAPER JULY 22 19. 21 INTERBANK STERLING JULY 22 13. 95 SWISS INTERBANK LOAN JULY 22 9. 65 WEIGHTED AVEBAGE FOREIGN INTEREST RATE JULY 22 13. 63 (G1 COUNTRIES PLUS SWITZERLAND) CHART 6. EURODOLLAR DEPOSIT RATES: LONDON OVERNIGHT JULY 22 1.71 7DAY JULY 22 1.65 1MONTH JULY 22 1. 3MONTH JULY 22 1.66 6MONTH JULY 22 1.3 1YEAR JULY 22 17.2 CHART 7. SELECTED EURODOLLAR AND U.S. MONEY MARKET RATES OVERNIGHT EURODOLLAR DEPOSITS JULY 22 1. 71 U.S. FEDERAL FUNDS JULY 22 19. 5 ' DIFFERENTIAL ADJ. FOR RESERVE REQUIREMENTS JULY 22. 3 3MONTH EURODOLLAR DEPOSIT RATE JULY 22 1. 66 U.S. 9DAY CD'S, SECONDARY MARKET JULY 22 17. 9 DIFFERENTIAL JULY 22. 76
SERIES NAME LAST VALUE PLOITSD DATE VALUE CHART. INTEREST ARBITRAGE, 3MONTH FUNDS EURODOLLAR DEPOSIT INTERBANK STERLING (LONDON), COVERED DIFFERENTIAL JULY 22 1. 66 JULY 22 1. 2 JULY 22. V U.S. COMMERCIAL PAPER JULY 22 17. CANADIAN FINANCE PAPER, COVERED JULY 22 1.66 DIFFERENTIAL JULY 22 1.5 k EURODOLLAR DEPOSIT JULY 22 1.66 INTERBANK DM (FRANKFURT), COVERED JULY 22 19.1 DIFFERENTIAL JULY 22.7 EURODOLLAR DEPOSIT JULY 22 1.66 SWISS INTERBANK, COVERED JULY 22 19.13 DIFFERENTIAL JULY 22. 6 CHART 9. LONG TERM GOVERMENT BOND YIELDS UNITED STATES GERMANY JAPAN (MONTHLY) SWITZERLAND CANADA FRANCE NETHERLANDS UNITED KINGDOM JULY 17 1. JULY 17 1. 96 MAY. 1 JULY 1 5. 5 JUNE 26 15. 3 JUNE 17. JULY 1 11. 3 JULY 1. 56 U.S. CORPORATE AAA BONDS EURODOLLAR BONDS JUNE 13. 75 MAY. 6 CHART 1. STOCK INDICES UNITED STATES JULY 15 135.6 UNITED KINGDOM JULY 15 117.3 CANADA JULY 15 23.9 GERMANY JULY 15 12.23 SWITZERLAND JULY 15 95.31 NETHERLANDS JULY 15 7.56 FRANCE JULY 15.5 JAPAN JULY 15 156.6
FEDERAL RESERVE statistical release &' H. 1 (5) FOREIGN EXCHANGE RATES FOR THE WEEK ENDING JULY 2, 191 JULY 2, 191 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 (BA1 CB U.S. CENTS! UNIT JULY JULY 21 JULY 22 JULY 23 JULY 2 AUSTRALIA DOLLAR 11. 113.95 11.15 113.9 11.5 AUSTRIA SCHILLING 5.173 5.7652 5.7 5.72 5.72 BELGIUM FRANC 2.9563 2.795 2.591 2.975 2.51 CANADA DOLLAR 2.63 2.72 2.71 2. 2.769 DENMARK KRONE 13.719.9576 13.13 13.591 13.65 FINLAND MARKKA 22.6 21.675 21.999 21.9539 21.92 FRANCE FRANC 17.262 17.677 17.2325 17.1939 17.2265 GERMANY D. MARK.697.5.9752.31 1.172 INDIA RUPEE 11.13 11.1359 11.1111 11.13 11.1359 IRELAND POUND 1. 17.75 19.15 19. 19.3 ITALY LIRA.21.157.21.2.3 JAPAN YEN.291.2671.26.2571.26 MALAYSIA DOLLAR 2.517 2.233 2.3 2.3 2.3 MEXICO PESO.61.617.593.576.535 NETHERLANDS GUILDER 36.7175 36.6 36.53 36.717 36.52 NEW ZEALAND DOLLAR 3.5 3.35 3.35 3.3 3.2 NORWAY KRONE.3559.2575.365.3239.3359 PORTUGAL ESCUDO 1.5373 1.5337 1.5337 1.535 1.5337 SOUTH AFRICA RAND 1.25 16. 17.25 16.6 16.17 SPAIN PESETA 1.231 1.3 1.9 1.17 1.12 SRI LANKA RUPEE 5.352 5.352 5.352 5.352 5.352 SWEDEN KRONA 19.23 19. 19.12 19.193 19.21 9 SWITZERLAND FRANC 7.695 7.259 7.551 7.271 7.559 UNITED KINGDOM POUND.7 1.5.7 15.5.2