G.

5A(405) January 3, 2000

THE TABLE BELOW SHOWS THE AVERAGE RATES OF EXCHANGE IN 1999 TOGETHER WITH COMPARABLE FIGURES FOR OTHER YEARS. 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

COUNTRY 1996 0.7828 10.589 30.97 1.0051 1.3638 8.3389 5.8003 N.A. 1.2520 4.5948 5.1158 1.5049 240.82 7.7345 *AUSTRALIA AUSTRIA BELGIUM BRAZIL CANADA CHINA,P.R. DENMARK *EMU MEMBERS *EURO COMMUNITY FINLAND FRANCE GERMANY GREECE HONG KONG INDIA

1999 0.6454 N.A. N.A. 1.8207 1.4858 8.2781 6.9900 1.0653 N.A. N.A. N.A. N.A. 306.30 7.7594 43.13

1998 0.6291 12.379 36.31 1.1605 1.4836 8.3008 6.7030 N.A. 1.1224 5.3473 5.8995 1.7597 295.70 7.7467 41.36

1997 0.7437 12.206 35.81 1.0779 1.3849 8.3193 6.6092 N.A. 1.1300 5.1956 5.8393 1.7348 273.28 7.7431 36.36

35.51 1.5995 1542.76 108.78 2.5154 7.600 1.6863 0.6877 6.4594 154.28 1.4100 4.3011 805.00 126.68 55.289 6.7082 1.2361 27.468 25.359 1.5607 417.19 *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 97.40 84.60 98.26 This release is available online at http://www.federalreserve.gov/release/. 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), 2)MAJOR CURRENCY 3)OITP POUND LIRA YEN RINGGIT PESO GUILDER DOLLAR KRONE ESCUDO DOLLAR RAND WON PESETA RUPEE KRONA FRANC DOLLAR BAHT POUND BOLIVAR N.A. N.A. 113.73 3.8000 9.553 N.A. 0.5294 7.8071 N.A. 1.6951 6.1191 1189.84 N.A. 70.868 8.2740 1.5045 32.322 37.887 1.6172 606.82 1.4248 1736.85 130.99 3.9254 9.152 1.9837 0.5361 7.5521 180.25 1.6722 5.5417 1400.40 149.41 65.005 7.9522 1.4506 33.547 41.262 1.6573 548.39 1.5163 1703.81 121.06 2.8173 7.918 1.9525 0.6625 7.0857 175.44 1.4857 4.6072 947.65 146.53 59.026 7.6446 1.4514 28.775 31.072 1.6376 488.39

DOLLAR JAN97=100 MAR73=100 JAN97=100

116.87 94.06 129.94

116.48 95.79 126.03

104.44 91.24 104.67

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. * 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 the January 3, 2000 release, the euro is reported in place of the individual euro-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 2.20371 200.482 166.386 AUSTRIAN SCHILLINGS BELGIAN FRANCS FINNISH MARKKAS FRENCH FRANCS GERMAN MARKS IRISH POUNDS ITALIAN LIRE LUXEMBOURG FRANCS NETHERLANDS GUILDERS PORTUGUESE ESCUDOS SPANISH PESETAS