G.5(405) April 30, 1999 FOREIGN EXCHANGE RATES THE TABLE BELOW SHOWS THE AVERAGE RATES OF EXCHANGE IN APRIL 1999 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 1999 1999 1999 1998 COUNTRY UNIT April March February April *AUSTRALIA DOLLAR 0.6420 0.6308 0.6399 0.6523 AUSTRIA SCHILLING N.A. N.A. N.A. 12.760 BELGIUM FRANC N.A. N.A. N.A. 37.42 BRAZIL REAL 1.7025 1.9057 1.9261 1.1409 CANADA DOLLAR 1.4881 1.5176 1.4977 1.4298 CHINA, P.R. YUAN 8.2792 8.2792 8.2755 8.3058 DENMARK KRONE 6.9475 6.8287 6.6379 6.9174 *EMU MEMBERS EURO 1.0701 1.0886 1.1203 N.A. *EURO COMMUNITY ECU N.A. N.A. N.A. 1.0927 FINLAND MARKKA N.A. N.A. N.A. 5.5053 FRANCE FRANC N.A. N.A. N.A. 6.0782 GERMANY D. MARK N.A. N.A. N.A. 1.8132 GREECE DRACHMA 304.26 296.36 287.41 315.82 HONG KONG DOLLAR 7.7495 7.7493 7.7490 7.7497 INDIA RUPEE 42.80 42.52 42.53 39.70 *IRELAND POUND N.A. N.A. N.A. 1.3894 ITALY LIRA N.A. N.A. N.A. 1791.24 JAPAN YEN 119.77 119.47 116.67 131.75 MALAYSIA RINGGIT 3.8000 3.8000 3.8000 3.7376 MEXICO PESO 9.430 9.732 10.006 8.502 NETHERLANDS GUILDER N.A. N.A. N.A. 2.0422 *NEW ZEALAND DOLLAR 0.5427 0.5345 0.5435 0.5534 NORWAY KRONE 7.7750 7.8151 7.7240 7.5315 PORTUGAL ESCUDO N.A. N.A. N.A. 185.81 SINGAPORE DOLLAR 1.7134 1.7292 1.7004 1.6007 SOUTH AFRICA RAND 6.1186 6.2136 6.1146 5.0459 SOUTH KOREA WON 1209.96 1229.72 1188.84 1391.55 SPAIN PESETA N.A. N.A. N.A. 153.99 SRI LANKA RUPEE 69.588 69.570 69.069 62.903 SWEDEN KRONA 8.3293 8.2144 7.9532 7.8238 SWITZERLAND FRANC 1.4971 1.4660 1.4272 1.5051 TAIWAN DOLLAR 32.965 33.165 32.564 33.015 THAILAND BAHT 37.631 37.557 37.137 39.654 *UNITED KINGDOM POUND 1.6089 1.6213 1.6276 1.6723 VENEZUELA BOLIVAR 587.79 580.06 577.32 531.26 MEMO: UNITED STATES DOLLAR 1)BROAD JAN97=100 117.15 117.80 116.37 114.13 2)MAJOR CURRENCY MAR73=100 95.76 95.69 93.76 96.41 3)OITP JAN97=100 129.24 131.03 130.83 120.53 This release is available online at http://www.federalreserve.gov/release/. 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/; weights for the major currencies index and the other important trading partners (OITP) index are derived from the broad index weights. * Value is U.S. dollars. 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 January 1, 1999, the euro is reported in place of the individual eure-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