Selected Interest & Exchange Rates

S L 1 0 L l B l l A *Y. ^ 7 ^ ^ 1 6 / 5 1 7 ) _ JUl ~ 3 0 19?S.> ZfcZ ggjg Selected Interest & Exchange Rates Weekly Series of Charts July 9,1979 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.10 RELEASE CHARTS 1. SPOT EXCHANGE RATE INDICES 2. 3MONTH FORWARD EXCHANGE RATES a 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 10. INDUSTRIAL STOCK INDICES SUBSCRIPTION RATES: Weekly $15.00 per year or $.0 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, 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 RATIO SCAL MARCH 1Q73=1C 10 0 FOREIGN CURRENCY PRICE OF U.S. DOLLAR CANADIAN DOLLAR \ 60 10 160 GERMAN MARK 10 FRENCH FRANC 10 0 I I I I I I I I I I! II I II III In 160 " I I I I I I lllllllllll 111111111,7 6 10 JAPANESE YEN 0 /! SWISS FRANC e 0 160 10 DUTCH GUILDER AJ N<z ~ x x/ BELGIAN FRANC 0 v, ^ I I I i i i 1 1 1 I,, 0 U.K. POUND A j, z I ITALIAN LIRA C 60 60 I I I

CHART 2 3MONTH FORWARD EXCHANGE RATES PREMIUM (+) OR () AVERAGES FOR WEEK ENDING WEDNESDAY 6 CANADIAN DOLLAR ITALIAN LIRA t i T I I I I I I I I I I I I I I I U. K. POUND DUTCH GUILDER 1 GERMAN MARK SWISS FRANC N x : AN/ i I I I I I I I I i I r i i FRENCH FRANC JAPANESE YEN I \ \A ~ I I I I I I

CHART 3 PRICE OF GOLD IN LONDON AVERAGES FOR WEEK ENDING WEDNESDAY PER FINE OUNCE U.S. DOLLARS PER FINE OUNCE 300 20 260 20.5 Kg BARS AFTERNOON FIXING PRICE 220 200 10 160 10 0

CHART CALL MONEY RATES WEEKLY SERIES 1 :ENT PER ANNUM PER CENT PER AL 10 OVERNIGHT EURODOLLARS JAPAN 6 U.S. FEDERAL FUNDS 2 16 1 U.K. 2DAY LOCAL 1 AUTHORITY NETHERLANDS 0 I I I 1 1 1 1 FRANCE CANADA / 1 1 1 1 1 1 GERMANY EUROSWISS FRANC + 0 EURODM

r CHART 5 3MONTH INTEREST RATES WEEKLY SERIES 16 16 U.K. INTERBANK STERLING U.S. CD S WEIGHTED AVERAGE FOREIGN RATE W 10 1_1 1_1 IL E 6 S JAPANESE BANK LOANS AND DISCOUNTS GERMAN INTERBANK RATE J ~ E 2 I I I 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 i 1 i i 1 1 1 I I I I I I I I I I I 13. CANADIAN FINANCE CO. PAPER F SWISS INTERBANK RATE 9 IA A ~ A W 5 I I I 1 1 1 1 1 1 1 1 1 llhlllllll

CHART 6 EURODOLLAR DEPOSIT RATES AVERAGES FOR WEEK ENDING WEDNESDAY LONDON OVERNIGHT 3MONTH 7DAY 6MONTH I X 1MONTH f 1YEAR / I I I I I I l, 11111111, i I I I MIHIMIM

CHART 7 SELECTED EURODOLLAR AND U. S. MONEY MARKET RATES AVERAGES FOR WEEK ENDING WEDNESDAY I 10 tdi r I 10 OVERNIGHT f EURODOLLAR DEPOSITS fi /v 1 3MONTH EURODOLLAR DEPOSITS ZvWv FEDERAL FUNDS DASHED LINE 90DAY CD'S 6 ^ DASHED LINE 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 2 1 DIFFERENTIAL ADJUSTED FOR RESERVE REQUIREMENTS DIFFERENTIAL A V A a v V w W 1 1977» I I ' ' ' I ' ' I ' ' I ' ' 1979 I I I 1 1 1 11111111111 11111111111 FAVORS BORROWING IN U. S. IF POSITIVE

CHART INTEREST ARBITRAGE: 3MONTH FUNDS DIFFERENTIAL: PLUS(+), INDICATES FAVOR DOLLAR ASSETS AVERAGES FOR WEEK ENDING WEDNESDAY PER 16 :ENT PER ANNUM PER CENT PER Ah EURODOLLAR DEPOSITS CANADIAN FINANCE CO. PAPER, COVERED + 0 INTERBANK STERLING COVERED LONDON U.S. COMMERCIAL PAPER DIFFERENTIAL l\ A A i A A. I / W + 0 DIFFERENTIAL ' I I I 1 1 1 i,inii,ii7 16 1 SWISS INTERBANK (SF) COVERED 10 INTERBANK DM COVERED FRANKFURT H 6 fv// I v EURODOLLAR DEPOSITS EURODOLLAR DEPOSITS DASHED LINE 2 + 0 DIFFERENTIAL DIFFERENTIAL 2

CHART 9 LONGTERM GOVERNMENT BOND YIELDS WEEKLY SERIES 10 UNITED STATES CANADA PER CENT PER 6 10 SWITZERLAND GERMANY 6 13 11 FRANCE UNITED KINGDOM 9 7 NETHERLANDS 5 11 U. S. CORPORATE MONTHLY MONTHLY 9 Aaa BONDS JAPAN 7 EURODOLLAR BONDS 5

CHART 10 INDUSTRIAL STOCK INDICES WEEKLY SERIES RATIO SCALE 1969= 10 RATIO SCALE 1969= 200 0 UNITED STATES w V A, A/V 160 UNITED KINGDOM 0 "l I I i i i iiiiiinii i!: 360 320 \ f M / r y v ^ V A 0 ; JAPAN ^ \ V 20 0 20 / I V 200 10 60 I,, I I I I I I MlllhllM I I I iiiiiinii, 0 CANADA //I/ 0 SWITZERLAND V,/"* 10 j V 60 I I I I I I 150 I I I I I I 111111,1111 50 150 130 FRANCE GENERAL INDEX zv /Yy 130 110 GERMANY 110 90 90 70 I I I I I I Mini,ih, I I I I I I MlMlnh, MIMIMIM 70

SERIES NAME LAST VALUE PLOTTED DATE VALUE ^^DHART 1. SPOT EXCHANGE RATES AND INDICES WEEKLY AVERAGES, NOON BUYING RATES (U.S. CENTS) GERMAN MARK JULY 5.32 JAPANESE YEN JULY 0.5922 DUTCH GUILDER JULY 9.35 U.K. POUND JULY 21.9 CANADIAN DOLLAR JULY 5.6 FRENCH FRANC JULY 23.1 SWISS FRANC JULY 60.39 BELGIAN FRANC JULY 3.3267 ITALIAN LIRA JULY 0.02 INDICES, MARCH 1973 BASE RATES = GERMAN MARK JULY 152.1 JAPANESE YEN JULY 0.2 DUTCH GUILDER JULY 11.6 U.K. POUND JULY.37 CANADIAN DOLLAR JULY 5.39 FRENCH FRANC JULY 105.7 SWISS FRANC JULY 19.27 BELGIAN FRANC JULY 133.29 ITALIAN LIRA JULY 6.1 WEIGHTED AVERAGE EXCHANGE VALUE INDICES, MAR 1973 = (G10 COUNTRIES PLUS SWITZERLAND) U.S. DOLLAR JULY 7.9 GERMAN MARK JULY 17.06 JAPANESE YEN JULY 109.70 DUTCH GUILDER JULY 130.21 U.K. POUND JULY 77.99 CANADIAN DOLLAR JULY 75.61 FRENCH FRANC JULY 9.75 SWISS FRANC JULY 17.36 BELGIAN FRANC JULY 1.60 ITALIAN LIRA JULY 59.56 SWEDISH KRONA JULY 93.51 CHART 2. 3MONTH FORWARD EXCHANGE RATES, PREMIUM OR DISCOUNT CANADIAN DOLLAR U.K. POUND GERMAN MARK FRENCH FRANC SWISS FRANC DUTCH GUILDER JAPANESE YEN ITALIAN LIRA JULY 0.32 JULY 3.11 JULY. JULY 0.21 JULY 9. JULY 2.36 JULY 5.03 JULY 3.5

«SERIES NAME LAST VALUE PLOTTED DATE VALUE CHART 3. GOLD PRICE IN LONDON, AFTERNOON FIXING U.S. DOLLARS PER C INE O'JNCE JULY 279.7? CHART. CALL MONEY RATES U.S. FEDERAL FUNDS JULY 10.2 OVERNIGHT EURODOLLAR DEPOSITS JULY 10.99 U.K. 2DAY LOCAL AUTHORITY DEPOSITS JULY 6 1.63 CANADA JUNE 29 10.90 GERMANY JULY 6 5.50 EURODM JULY 6 5.65 JAPAN JULY 6 5.56 FRANCE JULY 6.75 NETHERLANDS JUNE 15 7.10 EUROSWISS FRANC JULY 6 0.1 CHART 5. 3MONTH INTEREST RATES U.S. 90DAY CD'S, SECONDARY MARKET JULY 9. GERMAN INTERBANK LOAN JULY 6.57 JAPANESE BANK LOANS C DISCOUNTS JULY 5.97 CANADIAN FINANCE PAPER JULY 11.11 INTERBANK STERLING JULY 13.7 SWISS INTERBANK LOAN JULY 1.10 WEIGHTED AVERAGE FOREIGN INTEREST RATE JULY.02 CG10 COUNTRIES PLUS SWITZERLAND) CHART 6. EURODOLLAR DEPOSIT RATES: LONDON OVERNIGHT JULY 10.99 7DAY JULY 10.2 1MONTH JULY 10.0 3MONTH JULY 10.73 6MONTH JULY 10.55 1YEAR JULY 10.2 CHART 7. SELECTED EURODOLLAR AND U.S. MONEY MARKET RATES OVERNIGHT EURODOLLAR DEPOSITS JULY 10.99 U.S. FEDERAL FUNDS JULY 10.2 DIFFERENTIAL ADJ. FOR RESERVE REQUIREMENTS JULY 0.57 3MONTH EURODOLLAR DEPOSIT RATE JULY 10.73 U.S. 90DAY CD'S, SECONDARY MARKET JULY 9. DIFFERENTIAL JULY 0.9

SERIES NAME LAST VALUE PLOTTED DATE VALUE CHART. INTEREST ARBITRAGE, 3MONTH FUNDS EURODOLLAR DEPOSIT JULY 10.73 INTERBANK STERLING (LONDON), COVERED JULY 10.55 DIFFERENTIAL JULY 0.17 U.S. COMMERCIAL PAPER JULY 9.66 CANADIAN FINANCE PAPER, COVERED JULY 10.7 DIFFERENTIAL JULY 1. EURODOLLAR DEPOSIT JULY 10.73 INTERBANK DM (FRANKFURT), COVERED JULY 11. DIFFERENTIAL JULY 0.0 EURODOLLAR DEPOSIT JULY 10.73 SWISS INTERBANK, COVERED JULY 11.01 DIFFERENTIAL JULY 0.29 CHA9T c. LONG TERM GOVERMENT BOND YIELDS UNITED STATES JULY 6.79 GERMANY JUNE 29 7.5 JAPAN (MONTHLY) JUNE.07 SWITZERLAND JUNE 29 3.5 CANADA JUNE 29 9.73 FRANCE JUNE 22 10.6 NETHERLANDS JUNE 15.1 UNITED KINGDOM JULY 6 10.22 U. S. CORPORATE AAA BONDS JUNE 9.29 EURODM BONOS DEC. 6.63 EURODOLLAR BONDS MAY.72 CHART 10. INDUSTRIAL STOCK INDICES UNITED STATES JULY 6 106.03 JAPAN JUNE 22 295.0 CANADA DEC. 29 113.1 FRANCE JUNE 15 130.20 UNITED KINGDOM JULY 6 1.20 SWITZERLAND JUNE 76. GERMANY JUNE 29 96.5

FEDERAL RESERVE statical re.aase H.10(5) JULY 17, 1979 FOREIGN EXCHANGE RATES FOR THE WEEK ENDING JULY 6, 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 MONETARY (RA1 FE U.S. CENTS] UNIT JULY 2 JULY 3 JULY JULY 5 JULY 6 AUSTRALIA DOLLAR 1.0000 111.9600 1.300 1.3300 AUSTRIA SCHILLING 7.39371 7. 37055 7.57 7.1015 BELGIUM FRANC 3.3639 3.310 3.0716 3.3979 CANADA DOLLAR 5.5505 5.7927 H 5. 6.2367 DENMARK KRONE 1.697 1.306 1.965 1.9520 FINLAND MARKKA 25.7765 25.7500 25.993 25.9202 FRANCE FRANC 23.000 23.363 0 23.329 23.02 GERMANY D. MARK 5.3036 5.3331 5.552 5.51 INDIA RUPEE.900.7000.5500.5700 IRELAND POUND 205.5000 20.6500 L 205.7000 205.000 ITALY LIRA 0.063 0.070 0.15 0.136 JAPAN YEN 0.509 0.57 0.603 0.5977 MALAYSIA DOLLAR 6.J2Q9 5.9770 I 6.3177 6.2001 MEXICO PESO.3773.3773.376.3735 NETHERLANDS GUILDER 9.3632 9.2975 9.6106 9.071 NEW ZEALAND DOLLAR 131.1500 101.0 D 101.5500 101.500 NORWAY KRONE 19.703 19.7005 19.72 19.753 PORTUGAL ESCUDO 2.037 2.00 2.092 2.071 SOUTH AFRICA RAND 117.9500 117.3500 A 11*.0000 11.0000 SPAIN PESETA 1.5131 1. 5113 1.5133 1.5117 SRI LANKA RUPEE 6.000 6.300 6.000 6. SWEDEN KRONA 23.521 23.632 Y 23.5627 23.5627 SWITZERLAND FRANC 60.365 60.331 60.51 60.11? UNITED KINGDOM POUND 21.500 220.1500 222.9000 221.9000