H.10(512)                                                               December 24, 2001



 FOREIGN EXCHANGE RATES

 FOR THE WEEK ENDING DECEMBER 21, 2001

 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. 17      Dec. 18      Dec. 19      Dec. 20      Dec. 21

 *AUSTRALIA      DOLLAR         0.5176       0.5157       0.5132       0.5047       0.5075
  BRAZIL         REAL           2.3610       2.3450       2.2890       2.3165       2.3525
  CANADA         DOLLAR         1.5646       1.5729       1.5743       1.5782       1.5850
  CHINA, P.R.    YUAN           8.2769       8.2768       8.2767       8.2766       8.2767
  DENMARK        KRONE          8.2325       8.2463       8.2800       8.2950       8.3940
 *EMU MEMBERS    EURO           0.9040       0.9019       0.8997       0.8972       0.8864
  HONG KONG      DOLLAR         7.7997       7.7995       7.7988       7.7985       7.7970
  INDIA          RUPEE         47.86        47.86        47.80        47.83        47.85
  JAPAN          YEN          127.54       127.97       128.20       128.55       129.48
  MALAYSIA       RINGGIT        3.8000       3.8000       3.8000       3.8000       3.8000
  MEXICO         PESO           9.114        9.108        9.133        9.162        9.133
 *NEW ZEALAND    DOLLAR         0.4172       0.4175       0.4152       0.4115       0.4148
  NORWAY         KRONE          8.8675       8.8660       8.8850       8.9210       8.9920
  SINGAPORE      DOLLAR         1.8385       1.8380       1.8334       1.8375       1.8387
  SOUTH AFRICA   RAND          12.0500      12.2300      12.5000      13.6000      12.4100
  SOUTH KOREA    WON         1293.50      1291.90      1292.20      1300.20      1308.90
  SRI LANKA      RUPEE         93.150       93.150       93.150       93.150       93.150
  SWEDEN         KRONA         10.4550      10.4930      10.4990      10.5930      10.6780
  SWITZERLAND    FRANC          1.6330       1.6340       1.6389       1.6359       1.6540
  TAIWAN         DOLLAR        34.580       34.710       34.730       34.760       34.920
  THAILAND       BAHT          43.870       43.890       43.780       43.900       44.020
 *UNITED KINGDOM POUND          1.4588       1.4565       1.4508       1.4464       1.4385
  VENEZUELA      BOLIVAR      752.76       752.90       753.76       755.25       756.75

  MEMO:
  UNITED STATES   DOLLAR
1)BROAD          JAN97=100    127.18       127.41       127.49       127.82       128.45
2)MAJOR CURRENCY MAR73=100    105.23       105.59       105.80       106.12       106.92
3)OITP           JAN97=100    136.58       136.54       136.39       136.67       136.89


 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 February 5, 2001, 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.