H.10(512)                                                               December 13, 2002



 FOREIGN EXCHANGE RATES

 FOR THE WEEK ENDING DECEMBER 13, 2002

 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       Dec. 9       Dec. 10      Dec. 11      Dec. 12      Dec. 13

 *AUSTRALIA      DOLLAR         0.5630       0.5595       0.5607       0.5651       0.5646
  BRAZIL         REAL           3.7950       3.7860       3.7830       3.7790       3.7200
  CANADA         DOLLAR         1.5615       1.5612       1.5562       1.5550       1.5603
  CHINA, P.R.    YUAN           8.2776       8.2771       8.2773       8.2773       8.2771
  DENMARK        KRONE          7.3625       7.3740       7.3650       7.2885       7.2635
 *EMU MEMBERS    EURO           1.0088       1.0073       1.0083       1.0189       1.0226
  HONG KONG      DOLLAR         7.7989       7.7990       7.7990       7.7990       7.7989
  INDIA          RUPEE         48.24        48.24        48.18        48.22        48.20
  JAPAN          YEN          123.36       123.66       123.46       122.75       120.71
  MALAYSIA       RINGGIT        3.8000       3.8000       3.8000       3.8000       3.8000
  MEXICO         PESO          10.175       10.172       10.180       10.203       10.190
 *NEW ZEALAND    DOLLAR         0.5036       0.5033       0.5022       0.5095       0.5136
  NORWAY         KRONE          7.2515       7.2760       7.2945       7.2025       7.1690
  SINGAPORE      DOLLAR         1.7653       1.7663       1.7630       1.7600       1.7480
  SOUTH AFRICA   RAND           9.1200       8.9800       8.8700       8.9150       8.7375
  SOUTH KOREA    WON         1209.00      1213.00      1208.00      1208.00      1205.00
  SRI LANKA      RUPEE         96.750       96.700       96.700       96.700       96.700
  SWEDEN         KRONA          9.0120       9.0300       9.0210       8.9445       8.9430
  SWITZERLAND    FRANC          1.4595       1.4628       1.4621       1.4490       1.4421
  TAIWAN         DOLLAR        34.760       34.800       34.800       34.790       34.790
  THAILAND       BAHT          43.390       43.410       43.400       43.370       43.270
 *UNITED KINGDOM POUND          1.5785       1.5699       1.5744       1.5800       1.5896
  VENEZUELA      BOLIVAR     1305.00      1298.50      1309.00      1302.00      1298.50

  MEMO:
  UNITED STATES   DOLLAR
1)BROAD          JAN97=100    126.36       126.48       126.30       125.92       125.52
2)MAJOR CURRENCY MAR73=100     99.70        99.86        99.66        99.10        98.64
3)OITP           JAN97=100    144.63       144.64       144.52       144.55       144.35


 This release is available online at http://www.federalreserve.gov/releases/H10.

 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/). 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 to the trade weights and dollar indexes took effect
 with the January 7, 2002, release of this report.

 *  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

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 please call publication services at Federal Reserve Board at (202) 452-3244.

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