H.10(512)                                                                December 5, 2003



 FOREIGN EXCHANGE RATES

 FOR THE WEEK ENDING DECEMBER 5, 2003

 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. 1       Dec. 2       Dec. 3       Dec. 4       Dec. 5

 *AUSTRALIA      DOLLAR         0.7265       0.7318       0.7358       0.7336       0.7358
  BRAZIL         REAL           2.9315       2.9300       2.9310       2.9430       2.9400
  CANADA         DOLLAR         1.3023       1.2988       1.3000       1.3125       1.3045
  CHINA, P.R.    YUAN           8.2772       8.2772       8.2771       8.2770       8.2769
  DENMARK        KRONE          6.2240       6.1625       6.1540       6.1610       6.1210
 *EMU MEMBERS    EURO           1.1956       1.2084       1.2093       1.2077       1.2157
  HONG KONG      DOLLAR         7.7670       7.7628       7.7641       7.7670       7.7635
  INDIA          RUPEE         45.77        45.70        45.63        45.66        45.66
  JAPAN          YEN          109.61       108.82       108.17       108.19       107.78
  MALAYSIA       RINGGIT        3.8000       3.8000       3.8000       3.8000       3.8000
  MEXICO         PESO          11.406       11.360       11.259       11.229       11.205
 *NEW ZEALAND    DOLLAR         0.6438       0.6466       0.6486       0.6452       0.6448
  NORWAY         KRONE          6.8285       6.7600       6.7145       6.6950       6.6515
  SINGAPORE      DOLLAR         1.7243       1.7205       1.7188       1.7150       1.7145
  SOUTH AFRICA   RAND           6.3895       6.3463       6.2650       6.2601       6.3100
  SOUTH KOREA    WON         1200.00      1195.50      1196.00      1192.00      1191.00
  SRI LANKA      RUPEE         96.400       96.350       96.380       96.500       96.500
  SWEDEN         KRONA          7.5420       7.4600       7.4190       7.4300       7.3635
  SWITZERLAND    FRANC          1.3003       1.2875       1.2888       1.2906       1.2755
  TAIWAN         DOLLAR        34.150       34.150       34.100       34.100       34.110
  THAILAND       BAHT          39.930       39.930       39.930       39.910       39.920
 *UNITED KINGDOM POUND          1.7209       1.7291       1.7248       1.7200       1.7270
  VENEZUELA      BOLIVAR     1600.00      1600.00      1600.00      1600.00      1600.00

  MEMO:
  UNITED STATES   DOLLAR
1)BROAD          JAN97=100    116.17       115.64       115.44       115.64       115.24
2)MAJOR CURRENCY MAR73=100     85.02        84.44        84.33        84.65        84.17
3)OITP           JAN97=100    145.60       145.35       145.00       144.89       144.79


 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 30, 2003 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

 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. 

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