G.

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April 30, 2004

FOREIGN EXCHANGE RATES THE TABLE BELOW SHOWS THE AVERAGE RATES OF EXCHANGE IN APRIL 2004 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 DOLLAR RUPEE YEN RINGGIT PESO DOLLAR KRONE DOLLAR RAND WON RUPEE KRONA FRANC DOLLAR BAHT POUND BOLIVAR DOLLAR JAN97=100 MAR73=100 JAN97=100 2004 April 0.7443 2.9079 1.3420 8.2769 6.2104 1.1989 7.7970 43.89 107.66 3.8000 11.270 0.6415 6.9263 1.6849 6.5747 1152.86 98.132 7.6496 1.2969 32.970 39.453 1.8031 1920.00 2004 March 0.7496 2.9067 1.3286 8.2771 6.0757 1.2261 7.7930 44.97 108.52 3.8000 11.019 0.6607 6.9598 1.6996 6.6140 1166.29 97.522 7.5322 1.2778 33.252 39.470 1.8261 1920.00 2004 February 0.7770 2.9342 1.3299 8.2771 5.8956 1.2640 7.7748 45.27 106.71 3.8000 11.032 0.6916 6.9508 1.6869 6.7542 1167.53 98.507 7.2630 1.2448 33.214 39.116 1.8673 1818.95 2003 April 0.6100 3.1090 1.4582 8.2772 6.8381 1.0862 7.7996 47.39 119.90 3.8000 10.589 0.5518 7.2032 1.7771 7.6634 1231.10 97.004 8.4314 1.3783 34.824 42.929 1.5739 1600.00

COUNTRY *AUSTRALIA BRAZIL CANADA CHINA, P.R. DENMARK *EMU MEMBERS 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

115.12 87.44 143.58

114.26 86.48 143.15

113.10 84.97 142.97

122.01 96.71 144.42

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 (OITP) 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 December 31, 2003, release of this report. The source for exchange rates not listed in the table above but used in the calculation of the broad and OITP indexes is Reuters Limited. * 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