Selected Interest & Exchange Rates Weekly Series of Charts

(51/517) u!?ssu»*»* Selected Interest & Exchange Rates Weekly Series of Charts i December 27,192 Prepared by the FINANCIAL MARKETS SECTION DIVISION OF INTERNATIONAL FINANCE BOARD OF GOVERNORS FEDERAL RESERVE SYSTEM Washington, D C. 2551

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. 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, $2. 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.

UHART 1 SPOT EXCHANGE INDICES DOLLAR PRICES OF FOREIGN CURRENCIES AND WEIGHTED AVERAGE VALUES (THIN LINE) AVERAGES FOR WEEK ENDING WEDNESDAY RATIO SCALE MARCH 1973=1 1 RATIO SCALE MARCH 1973=1 1 FOREIGN CURRENCY PRICE OF U.S. DOLLAR JAPANESE YEN 1 / MIMIMIM UK. POUND SWISS FRANC. 1 DUTCH GUILDER 1 1 GERMAN MARK " i i i I I I, y nil HmTm" 1 CANADIAN DOLLAR FRENCH FRANC BELGIAN FRANC ITALIAN LIRA 19 192 19 192

CHART 2 3MONTH FORWARD EXCHANGE RATES PREMIUM ( ) OR () AVERAGES FOR WEEK ENDING WEDNESDAY ITALIAN LIRA + CANADIAN DOLLAR I I I Y \(YV/V^ + U. K. POUND DUTCH GUILDER GERMAN MARK SWISS FRANC FRENCH FRANC JAPANESE YEN 19 192 19 192

CHART 3 PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY U.S. D PER FINE OUNCE U.S. DOLLARS PER FINE 75 75 7 7 5 5 55 55 5 5 5.5 Kg BARS AFTERNOON FIXING PRICE 5 35 35 3 3 25 25 2 2 15 15 1 i i I i i I i i I i i I i i I i i I i i 1979 19 191 192 1

CHART CALL MONEY RATES WEEKLY SERIES 2 SIT PER ANNUM PERCENT PER AL 2 2 U. S. FEDERAL FUNDS U. K. 2DAY LOCAL AUTHORITY 1 2 2 1 EUROSWISS FRANC CAN r \ I n I j]fa~ NETHEF (LANDS 2 1 1 1 I I I I I I iiiiiiiiiii 2 1 FRANCE GERMANY JAPAN EURODM 19 192 19 192

CHART 5 3MONTH INTEREST RATES WEEKLY SERIES :NT PER AN MUM PERCENT PER Ah 2 U.S. CD S 2 1 1 WEIGHTED AVERAGE FOREIGN RATE U.K. INTERBANK STERLING 2 2 22 CANADIAN FINANCE CO. PAPER GERMAN INTERBANK RATE 1 1 1 1 1 JAPANESE BANK LOANS AND DISCOUNTS I I I III SWISS INTERBANK RATE 19 192 19 192

CHART EURODOLLAR DEPOSIT RATES AVERAGES FOR WEEK ENDING WEDNESDAY LONDON 2 PER ANNUM PERCENT PER 2 1 OVERNIGHT 3MONTH 2 2 1 7DAY 2 2 1 1MONTH 1YEAR

e # ^» e e # e e # t CHART 7 SELECTED EURODOLLAR AND U. S. MONEY MARKET RATES DEFERENTIAL: PLUS(+), FAVORS BOBROWNG IN U. S. AVERAGES FOR WEEK ENOMG WEDNESDAY PERCENT PER ANNUM 2 PERCENT PER ANNUM I 2 22 3MONTH EURODOLLAR DEPOSITS 22 FEDERAL FUNDS V V I OVERNIGHT EURODOLLAR DEPOSITS r 9DAY CD' S 3 3 2 1 + 1 2 DIFFERENTIAL 3 19 192 1 PERCENT ON DIFFERENTIAL SCALE = 2 PERCENT ON RATE SCALE

CHART INTEREST ARBITRAGE: 3MONTH FUNDS DIFFERENTIAL: PLUS(+), INDICATES FAVOR DOLLAR ASSETS AVERAGES FOR WEEK ENDING WEDNESDAY PERCENT PER ANNUM 2 PERCENT PER ANNUM 2 EURODOLLAR DEPOSITS DASHED LINE CANADIAN FINANCE CO. PAPER, COVERED 2 2 ^ V V "X. /A 7/ v A/ 1/ V v y 1 v ll \\l\ \ INTERBANK STERLING COVERED LONDON Jul 11II 11 III U. S. COMMERCIAL PAPER I I I 11111111111 DIFFERENTIAL DIFFERENTIAL yu ly x Wv v^ 2 ill 1 1 1 2 2 INTERBANK DM COVERED FRANKFURT SWISS INTERBANK (SF) COVERED 2 2 EURODOLLAR DEPOSITS DASHED LINE EURODOLLAR DEPOSITS DASHED LINE I II I I I I I II I I DIFFERENTIAL j A r i f I I 19 192 1 PERCENT ON DIFFERENTIAL SCALE = 2 PERCENT ON RATE SCALE DIFFERENTIAL #r 11 III hill I 2 19 192 2 +

CHART 9 LONGTERM GOVERNMENT BOND YIELDS WEEKLY SERIES 19 ENT PER ANNUM U. S. CORPORATE MONTHLY PERCENT PER AL 15 UNITED STATES Aaa BONDS / \ f\ 11 A/ 7 I I I EURODOLLAR BONDS ~ 15 UNITED KINGDOM SWITZERLAND 11 7 13 MONTHLY 111 I I I JAPAN 9 GERMANY 5 22 1 CANADA FRANCE 1 1 NETHERLANDS Inliiliiliilnl 19 192 19 192

CHART 1 INDUSTRIAL STOCK INDICES WEEKLY SERIES RATIO : CALE 199=' 1 RATIO 19c 1 1 1 UNITED STATES JAPAN 1 1 UNITED KINGDOM \ Vv GERMANY yv zx/ 1 Z ^ I I I i i i illii hilii 1 FRANCE SWITZERLAND 1 1 1 NETHERLANDS CANADA I 11 II LiJ 19 192 19 192

e # SEBIES NAME CHABT 1 SPOT EXCHANGE SATIS AND INDICES LASS? VALUE flqtted DATE VALUE WEEKLY AVEBAGES, NOON BOXING BATES.((US. CENTS) GEBjULN MASK JAPANESE YEN DUTCH GOILDEB U.K. BOUND CANADIAN DOLLAB FBENCH FBANC SWISS FBANC BELGIAN IBANC ITALIAN LIBA DEC. 22 DEC, 22 DEC, 22 DEC. 22 DEC. 22 DBC. 22 DEC. 22 DEC. 22 DEC. 22 1..117.1 3.7.5 1..1 1,.2,9. J 2.1211 flu 7.15 INDICES# HAfiCfl 1973 BASE BATES = 1 GEBHAN MBK JAPANESE YEN DUTCH GUXLDEB U K POUND CANADIAN DOLLAB FRENCH FBANC SWISS FBANC BELGIAN IBANC ITALIAN IlLBA WEIGHTED AVEBAGE EXCHANGE VALUE INDICES, MAS 1973 (G1 COUNTBIES PLUS SWITZERLAND) U.S. DOLXAB GESMAN MABK JAPANESE YEN DUTCH GUXLDEB U.K. POUND CANADIAN DOLLAB FBENCH FBANC SWISS FBANC BELGIAN FBANC ITALIAN LIBA SWEDISH KBONA DBC. 22 11,. 57 DEC. 22.17. DEC, 22. DEC. 22 5. 5 DEC. 22 =. 5 DEC., 22 5. 9 DEC. 22 15. 2 DEC. 22 3. 23 DBC. 22 *. 1 DEC. 22 J119.J17 DEC., 22 11.9 DEC. 22.95 DBC. 22 5.3 DEC. 22 72.5 DEC. 22 91.9 DEC. 22 73., 27 DEC. 22 1.5 DEC. 22 95.32 DEC. 22. DBC. 22.21 CHABT 2. 3HONTH FOBWARD EXCHANGE BATES, PBEMIUM OB DISCOUNT CANADIAN DOLLAB U.K. BOUND G3BMAN MABK FBENCH FBANC DBC J* ^ DBC» %% DEC " DBC t 5 i All

SEPIES NAZIS CHAM 3* GOLD PRICE IN LONDON, AFTERBOOB FIXING U.S. DOLLARS PER FINS OUNCE LAST VALUE PLOTTED DATE VALUE DEC, 22 JL. # CHART. CALL HONEY RATES (JUS.. FEDERAL FUNDS OVERNIGHT EURO* DOLLAR DEPOSITS L.K. 2D&Y LOCAL AUTHORITY DEPOSITS CANADA GERMANY EURODH JAPAN FRANCE HE2'HERLANDS EURO SWISS FRANC DEC. 22.9 DEC. 22. 3 DSC, 2 1 a. 3 DEC, J7 1. DEC., 2. DEC. 17 5.9 DEC. 2. DSC. 2 U. JAN. 1 1.3 DlC. 17 1.27 CHART 5. 3MONTH INTEREST RATES S. 9MY CD'S, SECONDARY MARKET GERMAN INTERBANK LOAN JAPANESE BANK LOANS DISCOUNTS CAJSAOIAJ FINANCE PAPER INTERBANK STERLING SWISS INTERBANK LOAN WEIGHTED AVERAGE FOREIGN XNTERES3 BATE (G1 COUNTRIES PLUS SWITZERLAND) DEC. 22 DSC. 22.5 DEC, 22 7*9 DSC., 22 1.29 DEC. 22 1<L DEC, 22 3.95 DEC. 22 19.1 CHART. EURODOLLAR DEPOSIT RATES: LONDOM OVERNIGHT DSC. 22,3 7DAI DEC. 22. 1MCBTH DtiC. 22 9. 3MONTH DEC. 22 9.5 MONTH DEC* 22 9.7 1YEAR DEC. 22 9.91 CHART 7. SELECTJBD EURODOLLAR AND U.S. MONEY MARKET RATES OVERNIGHT EURODOLLAR DEPOSITS U.S. FEDERAL FUNDS DIFFERENTIAL ADJ. FOR RESERVE REQUIREMENTS 3MONTH EUBODOLLAR DEPOSIT RATE UiS. SODAY CD'S, SECONDARY MARKET DIFFEREBTI&L DEC. 22.3 DEC. 22.9 DEC. 22 1. DEC. 22 9.5 DEC. 22. DEC, 22.92

# SBBIBS NAflE CHABT» INTEREST ARBITRAGE, 3HONTH FUNDS LAST YALOB PLOTTED DAM YALOB EURO DOLLAR DEPOSIT DEC. 22 9.5 INTEfiBABE STERLING (LONJ)ON), COVERED DEC. 2.2,9.55 DIFFERENTIAL DEC. 22.1 U.S. COHHERCIAL PAPER DEC. 22 a. * CANADIAN FINANCE PAPBB, COVBBBD DEC, 22 =9.32 DIFFBBBNTIAL DEC 22 3. EOEODPX1AB DEPOSIT DEC. 22.9.5 INTERBANK DH (FRANKFURTJ, COVBBBD DEC. 22.9. DIFFERENTIAL DEC. 22.2 EURODOLAAR DEPOSIT DEC 22 9.5 SUSS INTERBANK, COVBBBD DEC. 22 95 DIFFERENTIAL DBC. 22. 9. LONG TBBfl GOVBRHENT BOND YIELDS UNITED STATES DEC 3 1.5 GERMANY DEC. 17 2. JAPAN (HNTHLI) HQY.13 SMITZBBLAMD NQV. 2 A. 27 CANADA DBC. 17 11.99 FRANCE OCT. 15.3 NETHERLANDS JAN. 1 11.2 UNITED KINGDOM DBC. 1/7 1. 7 S COBPOBATB AAA BONDS NOV, 11. EOBODOL1AB BONDS OCT. 11.3 1., STOCK INDICES UNITED STATES DBC. 22 13.1 UNITED KINGDOM DBC. 22 3. CANADA DBC. 22 15.3 GEBHANY DBC. 22 11.53 SNITZBBLAND DBC. 22 93.73 NETHERLANDS DEC. 22 99.57 FRANCE DBC. 22 ioa.22 JAPAN DBC. 21.152,52 %

# FEDERAL RESERVE statistical release mi H. 1 (5J FOREIGN EXCHANGE RATES tqb THE USEE BNDING S5BMBBB 2, 192 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 followinfgnoon buying rate in New York City for cable transfers payable in foreign currencies: DiCJBHBIB 29, 195 COOHTBI MONETAEX [CDfiBEBCI OBXa IS PBB DC1LAB1 UNIT DEC. 2 DEC. 21 DEC. 22 DEC. 23 DEC. 2 ABGEMXXNA PBSQ 3. 3* 3. 3. 3. AOSTBALIA DOLLAJB 9,72 9.9 971 97.17 97. AUSTRIA SCHILLING 17.2 *.93 1.92 1.9 1.5Q BELGIUM PBAMC 7.22 7.1.9 <.91. BBAZ1L CBOZEIBO 2. 2.2 2.2 2.2 2.2 CANADA DOLLAB 1*231 1.237 1.232 1*23 1.2 CHILE PESO 72.25 7.2.25 72.25 72.25 72.25 CHINA, PB XUAM 1.9372 1. 9372 1.9372 1.9372 1.9372 COLOMBIA PESO 9. 9, 9.7 9*7 9.7 PENHABK KB1B.52.725.9.5.55 FINLAND HASX&A 5.3 5.333 5.325 5323 5.33 tuhucb FBAMC..15.175.5 7. GBBMiAMI D. MABK 2.975 2.7 2.5 2.3955 2.39 GREECE OBACHMA 7,.75 7., 5 7.75 71.Q 71. HONG KOHG DOLLAB.5.5.53.53.53 1MDIA BilPBB 9.73 9*73 9.73. 972 9.72 1HOOHBSIA BOPIAH 7. 7. 9.25 9.25 9.25 IBAH BIAL NA NA MA NA MA IBELAMD POUND 137. 13. 13.25 13.5 3 1SBAB1 SHEKEB 33.19 33.19 33.1 33.1 331 ITALX LISA 1395.5 3393. #31. 135 13. JAPAN IBM 2.5 22.1 2.5 23a. 1 23.1 MALAYSIA DOLLAB 2.3595 2.359 2.3 2375 2375 MEXICO PESO 15. 153. 153.Q 11. 1. MBTHBBLAMDS GOILDBB 2.7 2.5 2.5 2.52 2. **BH ZEALAND DOLLAB 7237 72.55 72.7 72.7 72.7 HOBDAI KfiONE 7.2 7.. 75 7. 7. 75 7.925 PEBU SOL 93. 93. 97.3 97.3 97.3 PHILIPPINES PESO 9.79 9.79 9.Q9 9.9 9.9 POBTOGAL BSCODQ 93.25 91.25 92. 92Q 93. SIMGAPOBE DOLLAB 2.15 2.17 2.. 13 2.1375 21575 SOOTH AEBICA HAND 92.1 92,1 92.35 9235 9237 SOOTH BBA HOB 75.5 7.95 795 7.95 7.95 SPAIN PESETA 7.9 7.3 7.3 7. 5 SBI LANKA BUPBE 21.11 21.1 21.1 211 21 1 SWEDE* KBOBA 7.3725 7.35 7.35 7.337 7.33 SWITZERLAND PBANC 2..3 2.21 2.19 2.1 2.1 THAILAND BAHT 23. 23. 23.. 23. 23. UNITED KINGBOa POUND 11.5 15 1.7 159.5 1. VENEZUELA BOLIVAB.297".297.297.297.297 * VALUE IS S CENTS