G.

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May 31, 2001

FOREIGN EXCHANGE RATES THE TABLE BELOW SHOWS THE AVERAGE RATES OF EXCHANGE IN MAY 2001 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. (Currency units per U.S. dollar except as noted) MONETARY UNIT DOLLAR REAL DOLLAR YUAN KRONE EURO DRACHMA DOLLAR RUPEE YEN RINGGIT PESO DOLLAR KRONE DOLLAR RAND WON RUPEE KRONA FRANC DOLLAR BAHT POUND BOLIVAR DOLLAR JAN97=100 MAR73=100 JAN97=100 2001 May 0.5199 2.2926 1.5411 8.2770 8.5256 0.8753 N.A. 7.7999 46.95 121.77 3.8000 9.148 0.4218 9.1380 1.8141 7.9789 1298.90 90.848 10.3513 1.7528 33.203 45.525 1.4265 714.86 2001 April 0.5016 2.1934 1.5578 8.2771 8.3657 0.8925 N.A. 7.7993 46.79 123.77 3.8000 9.328 0.4069 9.0920 1.8118 8.0783 1327.76 88.205 10.2035 1.7131 32.940 45.494 1.4348 710.39 2001 March 0.5031 2.0955 1.5587 8.2775 8.2229 0.9083 N.A. 7.7999 46.65 121.51 3.8000 9.599 0.4182 8.9859 1.7732 7.8980 1291.41 85.730 10.0516 1.6908 32.622 43.988 1.4445 706.06 2000 May 0.5784 1.8278 1.4957 8.2781 8.2329 0.9059 371.63 7.7907 44.08 108.32 3.8000 9.506 0.4708 9.0533 1.7286 7.0238 1119.49 74.867 9.0925 1.7190 30.772 38.951 1.5090 680.00

COUNTRY *AUSTRALIA BRAZIL CANADA CHINA, P.R. DENMARK *EMU MEMBERS GREECE HONG KONG INDIA JAPAN MALAYSIA MEXICO *NEW ZEALAND NORWAY SINGAPORE SOUTH AFRICA SOUTH KOREA SRI LANKA SWEDEN SWITZERLAND TAIWAN THAILAND *UNITED KINGDOM VENEZUELA MEMO: UNITED STATES 1)BROAD 2)MAJOR CURRENCY 3)OITP

126.77 105.03 135.92

126.97 105.09 136.30

125.91 103.98 135.56

120.20 99.21 129.48

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/). Weights for the 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 (OITIP) index are derived from the broad index weights. The most recent annual revision to the trade weights and the dollar indexes took effect with the February 1, 2001, release of this report. * U.S. dollars per currency unit. 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. The euro is reported in place of the individual eure-area currencies. These currency rates can be derived from the dollar/euro rate by using the fixed conversion rates (in currencies per euro) given below: 1 EURO = = = = = = = = = = = = 13.7603 40.3399 5.94573 6.55957 1.95583 .787564 1936.27 40.3399 2.20371 200.482 166.386 340.750 AUSTRIAN SCHILLINGS BELGIAN FRANCS FINNISH MARKKAS FRENCH FRANCS GERMAN MARKS IRISH POUNDS ITALIAN LIRE LUXEMBOURG FRANCS NETHERLANDS GUILDERS PORTUGUESE ESCUDOS SPANISH PESETAS GREEK DRACHMAS