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H.10 DAILY UPDATE: WEB RELEASE ONLY                               For immediate release
 FOREIGN EXCHANGE RATES                                            May 9, 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       May. 5       May. 6       May. 7       May. 8       May. 9

 *AUSTRALIA      DOLLAR         0.9454       0.9481       0.9426       0.9430       0.9417
  BRAZIL         REAL           1.6599       1.6605       1.6743       1.6790       1.6880
  CANADA         DOLLAR         1.0125       1.0036       1.0020       1.0149       1.0062
  CHINA, P.R.    YUAN           6.9815       6.9860       6.9860       7.0000       6.9876
  DENMARK        KRONE          4.8169       4.7982       4.8546       4.8410       4.8295
 *EMU MEMBERS    EURO           1.5491       1.5548       1.5370       1.5409       1.5447
  HONG KONG      DOLLAR         7.7946       7.7931       7.7935       7.7946       7.7965
  INDIA          RUPEE         40.4500      40.8000      41.3000      41.6600      41.5500
  JAPAN          YEN          105.1200     104.5400     105.2800     103.8700     103.0100
  MALAYSIA       RINGGIT        3.1615       3.1495       3.1805       3.2005       3.2025
  MEXICO         PESO          10.4711      10.4915      10.5411      10.5335      10.5701
 *NEW ZEALAND    DOLLAR         0.7857       0.7915       0.7825       0.7732       0.7668
  NORWAY         KRONE          5.0821       5.0479       5.1230       5.1160       5.0887
  SINGAPORE      DOLLAR         1.3591       1.3588       1.3666       1.3745       1.3685
  SOUTH AFRICA   RAND           7.5725       7.5600       7.5100       7.5750       7.7260
  SOUTH KOREA    WON         1007.8000    1015.0000    1030.0000    1040.5000    1044.0000
  SRI LANKA      RUPEE        107.8400     107.7500     107.8700     107.7000     107.6000
  SWEDEN         KRONA          6.0386       6.0022       6.0595       6.0295       6.0035
  SWITZERLAND    FRANC          1.0539       1.0485       1.0583       1.0510       1.0432
  TAIWAN         DOLLAR        30.4600      30.4400      30.6400      30.8500      30.7400
  THAILAND       BAHT          31.6400      31.6700      31.7000      31.6700      31.9300
 *UNITED KINGDOM POUND          1.9679       1.9747       1.9522       1.9543       1.9486
  VENEZUELA      BOLIVAR        2.1446       2.1446       2.1446       2.1446       2.1446

  MEMO:
  UNITED STATES   DOLLAR
1)BROAD          JAN97=100     96.0336      95.8047      96.3236      96.4439      96.2159
2)MAJOR CURRENCY MAR73=100     71.2638      70.8581      71.3042      71.3296      70.9660
3)OITP           JAN97=100    122.9097     123.0553     123.6058     123.8789     123.9507


 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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