1FEDERAL RESERVE STATISTICAL RELEASE                           November 29, 1996



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

 THE TABLE BELOW SHOWS THE AVERAGE RATES OF EXCHANGE IN NOVEMBER 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       November      October     September    November

 *AUSTRALIA        DOLLAR          0.7968       0.7918       0.7928       0.7453
  AUSTRIA          SCHILLING      10.640       10.748       10.610        9.974
  BELGIUM          FRANC          31.172       31.470       31.056       29.154
  CANADA           DOLLAR          1.3381       1.3508       1.3694       1.3534
  CHINA,P.R.       YUAN            8.3294       8.3299       8.3341       8.3334
  DENMARK          KRONE           5.8053       5.8576       5.8057       5.4923
 *EURO COMMUNITY   ECU             1.2700       1.2537       1.2576       1.2957
  FINLAND          MARKKA          4.5512       4.5694       4.5421       4.2489
  FRANCE           FRANC           5.1156       5.1652       5.1307       4.8882
  GERMANY          D. MARK         1.5118       1.5277       1.5080       1.4173
  GREECE           DRACHMA       238.38       239.76       239.67       234.16
  HONG KONG        DOLLAR          7.7323       7.7322       7.7328       7.7338
  INDIA            RUPEE          35.892       35.804       35.870       34.710
 *IRELAND          POUND           1.6645       1.6083       1.6096       1.6054
  ITALY            LIRA         1513.66      1523.82      1520.48      1592.67
  JAPAN            YEN           112.30       112.41       109.93       101.94
  MALAYSIA         RINGGIT         2.5234       2.5074       2.5009       2.5389
  MEXICO           PESO            7.9119       7.7345       7.5441       7.6936
  NETHERLANDS      GUILDER         1.6958       1.7141       1.6905       1.5877
 *NEW ZEALAND      DOLLAR          0.7098       0.7007       0.6964       0.6522
  NORWAY           KRONE           6.3554       6.4810       6.4613       6.2536
  PORTUGAL         ESCUDO        152.83       154.28       153.99       148.68
  SINGAPORE        DOLLAR          1.4025       1.4124       1.4086       1.4128
  SOUTH AFRICA     RAND            4.6577       4.5799       4.5489       3.6476
  SOUTH KOREA      WON           830.56       828.24       822.40       769.78
  SPAIN            PESETA        127.28       128.60       127.11       121.81
  SRI LANKA        RUPEE          56.987       57.015       56.050       53.199
  SWEDEN           KRONA           6.6269       6.6006       6.6427       6.6088
  SWITZERLAND      FRANC           1.2752       1.2586       1.2343       1.1437
  TAIWAN           DOLLAR         27.522       27.532       27.500       27.257
  THAILAND         BAHT           25.459       25.474       25.407       25.166
 *UNITED KINGDOM   POUND           1.6623       1.5863       1.5593       1.5625

  MEMO:
**UNITED STATES    DOLLAR         86.98        87.98        87.46        84.14
 *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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