G.

5(405)

October 29, 1999

FOREIGN EXCHANGE RATES THE TABLE BELOW SHOWS THE AVERAGE RATES OF EXCHANGE IN OCTOBER 1999 TOGETHER WITH COMPARABLE FIGURES FOR OTHER MONTHS. AVERAGES ARE BASED ON DAILY NOON BUYING RATES FOR CABLE TRANSFERS IN NEW YORK CITY CERTIFIED FOR CUSTOMS PURPOSES BY THE FEDERAL RESERVE BANK OF NEW YORK. (RATES IN CURRENCY UNITS PER DOLLAR) MONETARY UNIT DOLLAR SCHILLING FRANC REAL DOLLAR YUAN KRONE EURO ECU MARKKA FRANC D. MARK DRACHMA DOLLAR RUPEE POUND LIRA YEN RINGGIT PESO GUILDER DOLLAR KRONE ESCUDO DOLLAR RAND WON PESETA RUPEE KRONA FRANC DOLLAR BAHT POUND BOLIVAR 1999 October 0.6509 N.A. N.A. 1.9688 1.4776 8.2775 6.9450 1.0706 N.A. N.A. N.A. N.A. 307.71 7.7696 43.55 N.A. N.A. 105.97 3.8000 9.575 N.A. 0.5142 7.7402 N.A. 1.6757 6.1029 1205.29 N.A. 71.747 8.1492 1.4896 31.828 39.416 1.6572 630.75 1999 September 0.6495 N.A. N.A. 1.8987 1.4771 8.2774 7.0828 1.0497 N.A. N.A. N.A. N.A. 311.68 7.7665 43.60 N.A. N.A. 106.88 3.8000 9.341 N.A. 0.5230 7.8361 N.A. 1.6965 6.0563 1201.00 N.A. 71.942 8.2264 1.5262 31.848 40.060 1.6247 625.41 1999 August 0.6446 N.A. N.A. 1.8859 1.4932 8.2772 7.0144 1.0605 N.A. N.A. N.A. N.A. 307.84 7.7638 43.50 N.A. N.A. 113.23 3.8000 9.398 N.A. 0.5259 7.8036 N.A. 1.6787 6.1302 1198.31 N.A. 71.868 8.2589 1.5093 32.076 38.060 1.6058 615.95 1998 October 0.6179 11.524 33.81 1.1889 1.5452 8.2778 6.2294 N.A. 1.2019 4.9845 5.4925 1.6381 281.64 7.7483 42.39 1.5221 1620.96 121.05 3.8000 10.159 1.8479 0.5213 7.4294 168.01 1.6378 5.7991 1344.14 139.23 66.345 7.8395 1.3373 33.121 38.118 1.6944 570.68

COUNTRY *AUSTRALIA AUSTRIA BELGIUM BRAZIL CANADA CHINA, P.R. DENMARK *EMU MEMBERS *EURO COMMUNITY FINLAND FRANCE GERMANY GREECE HONG KONG INDIA *IRELAND ITALY JAPAN MALAYSIA MEXICO NETHERLANDS *NEW ZEALAND NORWAY PORTUGAL SINGAPORE SOUTH AFRICA SOUTH KOREA SPAIN SRI LANKA SWEDEN SWITZERLAND TAIWAN THAILAND *UNITED KINGDOM VENEZUELA

MEMO: UNITED STATES 1)BROAD 2)MAJOR CURRENCY 3)OITP

DOLLAR JAN97=100 MAR73=100 JAN97=100

115.23 92.29 130.58

115.76 93.24 130.19

116.46 94.74 129.26

115.46 93.46 129.02

This release is available online at http://www.federalreserve.gov/releases/G5. For more information on exchange rate indexes for the U.S. dollar, see "New Summary Measures of the Foreign Exchange Value of the Dollar," Federal Reserve Bulletin, vol. 84 (October 1998), pp. 811-18 (http://www.federalreserve.gov/pubs/bulletin/) and "Index of the Weighted-Average Exchange Value of the U.S. Dollar: Revision," Federal Reserve Bulletin, vol. 64 (August 1978), p. 700. Weights for broad index can be found at http://www.federalreserve.gov/releases/ H10/Weights; weights for the major currencies index and the other important trading partners (OITP) index are derived from the broad index weights. The most recent annual revision to the trade weights has produced revised index values that will appear in the dollar indexes starting with the December 1, 1999, release. * Value is U.S. dollars. 1) A weighted average of the foreign exchange value of the U.S. dollar against the currencies of a broad group of major U.S. trading partners. 2) A weighted average of the foreign exchange value of the U.S. dollar against a subset of the broad index currencies that circulate widely outside the country of issue. 3) A weighted average of the foreign exchange value of the U.S. dollar against a subset of the broad index currencies that do not circulate widely outside the country of issue. For information about your subscription to this release or about receiving it in document form, please call publication services at Federal Reserve Board at (202) 452-3244. As of January 1, 1999, the euro is reported in place of the individual eure-area currencies. These currency rates can be derived from the euro rate by using the fixed conversion rates (in currencies per euro) given below: 1 EUR = = = = = = = = 13.7603 40.3399 5.94573 6.55957 1.95583 .787564 1936.27 40.3399 AUSTRIAN SCHILLINGS BELGIAN FRANCS FINNISH MARKKAS FRENCH FRANCS GERMAN MARKS IRISH POUNDS ITALIAN LIRE LUXEMBOURG FRANCS

= = =

2.20371 200.482 166.386

NETHERLANDS GUILDERS PORTUGUESE ESCUDOS SPANISH PESETAS