H.10 DAILY UPDATE: WEB RELEASE ONLY For immediate release FOREIGN EXCHANGE RATES July 3, 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 Jun. 30 Jul. 1 Jul. 2 Jul. 3 Jul. 4 *AUSTRALIA DOLLAR 0.9562 0.9535 0.9634 0.9604 BRAZIL REAL 1.5945 1.6090 1.6003 1.6061 CANADA DOLLAR 1.0185 1.0220 1.0127 1.0204 CHINA, P.R. YUAN 6.8591 6.8608 6.8542 6.8529 DENMARK KRONE 4.7340 4.7260 4.6991 4.7472 *EMU MEMBERS EURO 1.5748 1.5778 1.5869 1.5708 HONG KONG DOLLAR 7.7970 7.7992 7.7979 7.7978 INDIA RUPEE 42.9300 43.2300 43.1500 43.1700 JAPAN YEN 106.1700 105.7300 105.8700 106.7900 MALAYSIA RINGGIT 3.2665 3.2785 3.2690 3.2650 MEXICO PESO 10.3035 10.3850 10.3710 10.3695 *NEW ZEALAND DOLLAR 0.7609 0.7567 0.7617 0.7564 NORWAY KRONE 5.0899 5.0695 5.0604 5.0957 SINGAPORE DOLLAR 1.3608 1.3617 1.3574 1.3628 SOUTH AFRICA RAND 7.8035 7.9151 7.8410 7.7100 SOUTH KOREA WON 1046.8000 1050.5000 1036.5000 1044.5000 SRI LANKA RUPEE 107.6500 107.6700 107.6800 107.7000 SWEDEN KRONA 6.0208 5.9874 5.9690 5.9876 SWITZERLAND FRANC 1.0202 1.0183 1.0151 1.0273 TAIWAN DOLLAR 30.3600 30.3700 30.3800 30.4300 THAILAND BAHT 33.3700 33.4000 33.3600 33.3400 *UNITED KINGDOM POUND 1.9906 1.9930 1.9925 1.9825 VENEZUELA BOLIVAR 2.1446 2.1446 2.1446 2.1446 MEMO: UNITED STATES DOLLAR 1)BROAD JAN97=100 95.7739 95.8599 95.4827 95.8949 2)MAJOR CURRENCY MAR73=100 70.9569 70.9172 70.5675 71.1607 3)OITP JAN97=100 122.7692 123.0591 122.6981 122.7264 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