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H.10 DAILY UPDATE: WEB RELEASE ONLY                               For immediate release
 FOREIGN EXCHANGE RATES                                            May 12, 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. 12      May. 13      May. 14      May. 15      May. 16

 *AUSTRALIA      DOLLAR         0.9467
  BRAZIL         REAL           1.6670
  CANADA         DOLLAR         1.0037
  CHINA, P.R.    YUAN           6.9881
  DENMARK        KRONE          4.8014
 *EMU MEMBERS    EURO           1.5536
  HONG KONG      DOLLAR         7.7963
  INDIA          RUPEE         42.0000
  JAPAN          YEN          103.8300
  MALAYSIA       RINGGIT        3.2035
  MEXICO         PESO          10.4855
 *NEW ZEALAND    DOLLAR         0.7709
  NORWAY         KRONE          5.0367
  SINGAPORE      DOLLAR         1.3663
  SOUTH AFRICA   RAND           7.6110
  SOUTH KOREA    WON         1043.0000
  SRI LANKA      RUPEE        107.6000
  SWEDEN         KRONA          5.9753
  SWITZERLAND    FRANC          1.0443
  TAIWAN         DOLLAR        30.7900
  THAILAND       BAHT          32.1400
 *UNITED KINGDOM POUND          1.9616
  VENEZUELA      BOLIVAR        2.1446

  MEMO:
  UNITED STATES   DOLLAR
1)BROAD          JAN97=100     96.0215
2)MAJOR CURRENCY MAR73=100     70.8197
3)OITP           JAN97=100    123.7060


 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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