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H.10 DAILY UPDATE: WEB RELEASE ONLY                               For immediate release
 FOREIGN EXCHANGE RATES                                            July 25, 2008

 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 U.S. dollar except as noted)


                 MONETARY
   COUNTRY         UNIT       Jul. 21      Jul. 22      Jul. 23      Jul. 24      Jul. 25

 *AUSTRALIA      DOLLAR         0.9749       0.9715       0.9636       0.9570       0.9562
  BRAZIL         REAL           1.5842       1.5841       1.5838       1.5775       1.5728
  CANADA         DOLLAR         1.0019       1.0083       1.0088       1.0114       1.0167
  CHINA, P.R.    YUAN           6.8271       6.8248       6.8279       6.8292       6.8189
  DENMARK        KRONE          4.6994       4.7186       4.7501       4.7641       4.7549
 *EMU MEMBERS    EURO           1.5877       1.5811       1.5708       1.5657       1.5687
  HONG KONG      DOLLAR         7.7971       7.7959       7.7993       7.7988       7.8000
  INDIA          RUPEE         42.5700      42.6500      42.0500      42.1000      41.1000
  JAPAN          YEN          106.7400     107.1100     107.6800     107.6200     107.8900
  MALAYSIA       RINGGIT        3.2327       3.2350       3.2380       3.2550       3.2680
  MEXICO         PESO          10.1710      10.1259      10.0470      10.0265      10.0255
 *NEW ZEALAND    DOLLAR         0.7598       0.7605       0.7517       0.7417       0.7419
  NORWAY         KRONE          5.0687       5.0960       5.1548       5.1719       5.1427
  SINGAPORE      DOLLAR         1.3522       1.3578       1.3643       1.3616       1.3607
  SOUTH AFRICA   RAND           7.5570       7.4920       7.5325       7.6420       7.5725
  SOUTH KOREA    WON         1017.0000    1014.0000    1009.0000    1006.8000    1007.0000
  SRI LANKA      RUPEE        107.4700     107.6000     107.7200     107.6000     107.6500
  SWEDEN         KRONA          5.9532       5.9905       6.0233       6.0400       6.0375
  SWITZERLAND    FRANC          1.0207       1.0283       1.0372       1.0390       1.0386
  TAIWAN         DOLLAR        30.3400      30.3400      30.3900      30.4300      30.4500
  THAILAND       BAHT          33.3300      33.3500      33.4100      33.4300      33.4300
 *UNITED KINGDOM POUND          1.9979       1.9941       2.0021       1.9832       1.9880
  VENEZUELA      BOLIVAR        2.1446       2.1446       2.1446       2.1446       2.1446

  MEMO:
  UNITED STATES   DOLLAR
1)BROAD          JAN97=100     94.9790      95.1463      95.2349      95.3558      95.3564
2)MAJOR CURRENCY MAR73=100     70.3969      70.7239      70.9763      71.1848      71.2710
3)OITP           JAN97=100    121.6999     121.5633     121.3558     121.3070     121.1614


 For more information on exchange rate indexes for the U.S. dollar, see "Indexes of the Foreign
 Exchange Value of the Dollar," Federal Reserve Bulletin, 91:1 (Winter 2005), pp. 1-8
 (http://www.federalreserve.gov/pubs/bulletin/2005/winter05_index.pdf). 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 of the currency weights and dollar indexes took effect
 with the January 2, 2007 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 Bloomberg L.P.

 *  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.

 The euro is reported in place of the individual euro-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  AUSTRIAN SCHILLINGS
                =  40.3399  BELGIAN FRANCS
                =  5.94573  FINNISH MARKKAS
                =  6.55957  FRENCH FRANCS
                =  1.95583  GERMAN MARKS
                =  .787564  IRISH POUNDS
                =  1936.27  ITALIAN LIRE
                =  40.3399  LUXEMBOURG FRANCS
                =  2.20371  NETHERLANDS GUILDERS
                =  200.482  PORTUGUESE ESCUDOS
                =  166.386  SPANISH PESETAS
                =  340.750  GREEK DRACHMAS
                =  239.640  SLOVENIAN TOLAR

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