H.

10(512) 21, 1999

May

FOREIGN EXCHANGE RATES FOR THE WEEK ENDING MAY 21, 1999 The Board of Governors of the Federal Reserve System is advised that the Federal Reserve Bank of New York has certified for customs purposes the following noon buying rates in New York City for cable transfers payable in foreign currencies: (RATES IN CURRENCY UNITS PER DOLLAR) MONETARY UNIT DOLLAR REAL DOLLAR YUAN KRONE EURO DRACHMA DOLLAR RUPEE YEN RINGGIT PESO DOLLAR KRONE DOLLAR

COUNTRY May. 21 *AUSTRALIA 0.6595 BRAZIL 1.7050 CANADA 1.4595 CHINA, P.R. 8.2780 DENMARK 7.0290 *EMU MEMBERS 1.0577 GREECE 307.25 HONG KONG 7.7546 INDIA 42.80 JAPAN 123.90 MALAYSIA 3.8000 MEXICO 9.370 *NEW ZEALAND 0.5449 NORWAY 7.7895 SINGAPORE 1.7205

May. 17 0.6662 1.6720 1.4605 8.2785 6.9670 1.0672 304.95 7.7522 42.76 123.27 3.8000 9.363 0.5592 7.6820 1.7115

May. 18 0.6705 1.6700 1.4607 8.2790 6.9650 1.0672 305.00 7.7539 42.77 123.24 3.8000 9.300 0.5618 7.7030 1.7123

May. 19 0.6633 1.6700 1.4661 8.2783 6.9845 1.0641 305.25 7.7546 42.80 124.45 3.8000 9.312 0.5519 7.7590 1.7215

May. 20 0.6610 1.6975 1.4658 8.2780 6.9940 1.0630 305.55 7.7544 42.80 124.15 3.8000 9.340 0.5480 7.7665 1.7212

SOUTH AFRICA 6.2025 SOUTH KOREA 1194.50 SRI LANKA 70.850 SWEDEN 8.4890 SWITZERLAND 1.5175 TAIWAN 32.855 THAILAND 37.150 *UNITED KINGDOM 1.6020 VENEZUELA 597.25

RAND WON RUPEE KRONA FRANC DOLLAR BAHT POUND BOLIVAR

6.1925 1207.00 70.900 8.4250 1.5013 32.790 37.250 1.6193 595.75

6.1550 1201.00 71.200 8.4375 1.5030 32.800 37.050 1.6203 596.51

6.1850 1200.00 71.300 8.4610 1.5050 32.810 37.180 1.6175 596.75

6.2150 1200.00 71.200 8.4450 1.5083 32.850 37.130 1.6122 597.00

MEMO: UNITED STATES DOLLAR 1)BROAD JAN97=100 117.38 2)MAJOR CURRENCY MAR73=100 96.38 3)OITP JAN97=100 128.72

116.97 95.88 128.56

116.82 95.86 128.20

117.24 96.34 128.43

117.33 96.34 128.65

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 the January 11, 1999 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 = = = = = = = = = = = 40.3399 1.95583 166.386 6.55957 .787564 1936.27 40.3399 2.20371 13.7603 200.482 5.94573 BELGIAN FRANCS GERMAN MARKS SPANISH PESETAS FRENCH FRANCS IRISH POUNDS ITALIAN LIRE LUXEMBOURG FRANCS DUTCH GUILDERS AUSTRIAN SCHILLINGS PORTUGUESE ESCUDOS FINNISH MARKKAS