1FEDERAL RESERVE STATISTICAL RELEASE                             August 30, 1996



 G.5(405)               FOREIGN EXCHANGE RATES FOR THE MONTH ENDING  AUGUST 1996

 THE TABLE BELOW SHOWS THE AVERAGE RATES OF EXCHANGE IN AUGUST 1996 TOGETHER
 WITH COMPARABLE FIGURES FOR OTHER MONTHS. AVERAGES ARE BASED ON DAILY NOON BUYING
 RATES FOR CABLE TRANSFERS IN NEW YORK CITY CERTIFIED FOR CUSTOMS PURPOSES BY
 THE FEDERAL RESERVE BANK OF NEW YORK.


                                      (RATES IN CURRENCY UNITS PER DOLLAR)


                   MONETARY       1996         1996         1996         1995
    COUNTRY          UNIT        August        July         June        August

 *AUSTRALIA        DOLLAR          0.7830       0.7897       0.7912       0.7414
  AUSTRIA          SCHILLING      10.435       10.576       10.755       10.168
  BELGIUM          FRANC          30.553       30.947       31.433       29.735
  CANADA           DOLLAR          1.3722       1.3697       1.3658       1.3552
  CHINA,P.R.       YUAN            8.3379       8.3409       8.3424       8.3253
  DENMARK          KRONE           5.7327       5.8014       5.8941       5.6060
 *EURO COMMUNITY   ECU             1.2685       1.2570       1.2379       1.2947
  FINLAND          MARKKA          4.4793       4.5812       4.6710       4.3170
  FRANCE           FRANC           5.0636       5.0881       5.1787       4.9727
  GERMANY          D. MARK         1.4826       1.5025       1.5282       1.4456
  GREECE           DRACHMA       237.00       237.65       241.75       232.38
  HONG KONG        DOLLAR          7.7345       7.7379       7.7404       7.7416
  INDIA            RUPEE          35.800       35.667       35.100       31.592
 *IRELAND          POUND           1.6108       1.6031       1.5831       1.6025
  ITALY            LIRA         1516.62      1526.82      1542.30      1607.18
  JAPAN            YEN           107.87       109.19       108.96        94.74
  MALAYSIA         RINGGIT         2.4933       2.4915       2.4967       2.4813
  MEXICO           PESO            7.5143       7.6179       7.5648       6.2047
  NETHERLANDS      GUILDER         1.6633       1.6862       1.7120       1.6195
 *NEW ZEALAND      DOLLAR          0.6886       0.6900       0.6765       0.6569
  NORWAY           KRONE           6.4153       6.4465       6.5376       6.3438
  PORTUGAL         ESCUDO        152.27       154.56       157.40       149.88
  SINGAPORE        DOLLAR          1.4124       1.4160       1.4090       1.4116
  SOUTH AFRICA     RAND            4.5289       4.3963       4.3519       3.6402
  SOUTH KOREA      WON           817.52       813.03       798.45       767.42
  SPAIN            PESETA        125.72       126.96       128.87       123.45
  SRI LANKA        RUPEE          55.603       55.293       55.529       51.227
  SWEDEN           KRONA           6.6211       6.6394       6.6807       7.2383
  SWITZERLAND      FRANC           1.2029       1.2320       1.2579       1.1962
  TAIWAN           DOLLAR         27.496       27.573       27.674       27.234
  THAILAND         BAHT           25.289       25.355       25.354       24.960
 *UNITED KINGDOM   POUND           1.5499       1.5530       1.5416       1.5668

  MEMO:
**UNITED STATES    DOLLAR         86.54        87.25        88.16        84.59
 *VALUE IS U.S. DOLLARS
 **INDEX OF WEIGHTED AVERAGE EXCHANGE VALUE OF U.S. DOLLAR AGAINST CURRENCIES OF OTHER
 G-10 COUNTRIES.  MARCH 1973 = 100.  WEIGHTS ARE 1972-76 GLOBAL TRADE OF EACH OF THE
 10 COUNTRIES.  SERIES REVISED AS OF AUGUST 1978.  FOR  DESCRIPTION AND BACK DATA, SEE
 "INDEX OF THE WEIGHTED-AVERAGE EXCHANGE VALUE OF THE U.S. DOLLAR: REVISION" ON PAGE
 700 OF THE AUGUST 1978 FEDERAL RESERVE BULLETIN.

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