H.10(512)                                                                    May 12, 2000



 FOREIGN EXCHANGE RATES

 FOR THE WEEK ENDING MAY 12, 2000

 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. 8       May. 9       May. 10      May. 11      May. 12

 *AUSTRALIA      DOLLAR         0.5870       0.5828       0.5815       0.5790       0.5810
  BRAZIL         REAL           1.8050       1.8075       1.8180       1.8200       1.8300
  CANADA         DOLLAR         1.4927       1.4945       1.4955       1.4900       1.4872
  CHINA, P.R.    YUAN           8.2798       8.2790       8.2785       8.2782       8.2778
  DENMARK        KRONE          8.3260       8.2610       8.1980       8.2675       8.2177
 *EMU MEMBERS    EURO           0.8950       0.9023       0.9097       0.9021       0.9080
  GREECE         DRACHMA      375.80       372.70       369.80       373.17       370.66
  HONG KONG      DOLLAR         7.7893       7.7899       7.7898       7.7898       7.7900
  INDIA          RUPEE         43.70        43.70        44.30        44.44        44.15
  JAPAN          YEN          109.03       109.61       109.33       108.47       108.74
  MALAYSIA       RINGGIT        3.8000       3.8000       3.8000       3.8000       3.8000
  MEXICO         PESO           9.483        9.488        9.572        9.583        9.563
 *NEW ZEALAND    DOLLAR         0.4847       0.4790       0.4775       0.4777       0.4795
  NORWAY         KRONE          9.0930       9.0510       9.0450       9.1390       9.0115
  SINGAPORE      DOLLAR         1.7235       1.7295       1.7290       1.7263       1.7278
  SOUTH AFRICA   RAND           6.9400       7.0900       7.0755       6.9750       7.0400
  SOUTH KOREA    WON         1109.70      1109.50      1109.20      1113.00      1113.50
  SRI LANKA      RUPEE         74.400       74.500       74.800       74.550       74.600
  SWEDEN         KRONA          9.0950       9.0592       9.0575       9.1600       9.0920
  SWITZERLAND    FRANC          1.7305       1.7219       1.7150       1.7252       1.7090
  TAIWAN         DOLLAR        30.700       30.650       30.730       30.760       30.750
  THAILAND       BAHT          38.500       38.680       38.710       39.000       38.900
 *UNITED KINGDOM POUND          1.5310       1.5315       1.5153       1.4997       1.5172
  VENEZUELA      BOLIVAR      677.90       678.00       678.50       679.25       678.40

  MEMO:
  UNITED STATES   DOLLAR
1)BROAD          JAN97=100    120.69       120.67       120.68       120.84       120.59
2)MAJOR CURRENCY MAR73=100     99.63        99.54        99.33        99.42        99.08
3)OITP           JAN97=100    129.86       129.95       130.32       130.58       130.52


 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/) and "Index of the Weighted-Average
 Exchange Value of the U.S. Dollar: Revision," Federal Reserve Bulletin, vol. 64 (August 1978),
 p.700. Weights for 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 has
 produced revised index values that appear in the dollar indexes starting with the
 November 1, 1999, release.

 *  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.

 For information about your subscription to this release or about receiving it in document form,
 please call publication services at Federal Reserve Board at (202) 452-3244.

 As of the January 11, 1999 release, the euro is reported in place of the individual euro-area
 currencies. These currency rates can be derived from the euro rate by using the fixed conversion
 rates (in currencies per euro) given below:

        1  EUR  =  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