G.

5(405)

August 31, 1999

FOREIGN EXCHANGE RATES THE TABLE BELOW SHOWS THE AVERAGE RATES OF EXCHANGE IN AUGUST 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 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 1999 July 0.6562 N.A. N.A. 1.8023 1.4890 8.2776 7.1792 1.0370 N.A. N.A. N.A. N.A. 313.52 7.7603 43.36 N.A. N.A. 119.33 3.8000 9.370 N.A. 0.5261 7.9029 N.A. 1.6958 6.1182 1189.10 N.A. 71.912 8.4431 1.5474 32.338 37.143 1.5751 611.17 1999 June 0.6563 N.A. N.A. 1.7669 1.4695 8.2780 7.1643 1.0377 N.A. N.A. N.A. N.A. 312.49 7.7575 43.21 N.A. N.A. 120.72 3.8000 9.515 N.A. 0.5325 7.8749 N.A. 1.7107 6.0880 1168.91 N.A. 71.211 8.5065 1.5374 32.525 36.925 1.5950 603.29 1998 August 0.5888 12.574 36.85 1.1717 1.5346 8.3100 6.8067 N.A. 1.1035 5.4340 5.9912 1.7869 301.21 7.7494 42.84 1.4037 1763.01 144.68 4.2036 9.371 2.0148 0.5011 7.7248 182.99 1.7571 6.3198 1314.29 151.72 66.642 8.1282 1.4933 34.730 41.720 1.6342 571.88

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

116.46 94.74 129.26

117.48 96.78 128.26

117.45 96.56 128.56

120.14 100.96 127.77

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), 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/; 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 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 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