G.5(405) October 1, 1999 FOREIGN EXCHANGE RATES THE TABLE BELOW SHOWS THE AVERAGE RATES OF EXCHANGE IN SEPTEMBER 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 September August July September *AUSTRALIA DOLLAR 0.6495 0.6446 0.6562 0.5889 AUSTRIA SCHILLING N.A. N.A. N.A. 11.955 BELGIUM FRANC N.A. N.A. N.A. 35.05 BRAZIL REAL 1.8987 1.8859 1.8023 1.1805 CANADA DOLLAR 1.4771 1.4932 1.4890 1.5218 CHINA, P.R. YUAN 8.2774 8.2772 8.2776 8.3055 DENMARK KRONE 7.0828 7.0144 7.1792 6.4717 *EMU MEMBERS EURO 1.0497 1.0605 1.0370 N.A. *EURO COMMUNITY ECU N.A. N.A. N.A. 1.1575 FINLAND MARKKA N.A. N.A. N.A. 5.1734 FRANCE FRANC N.A. N.A. N.A. 5.6969 GERMANY D. MARK N.A. N.A. N.A. 1.6990 GREECE DRACHMA 311.68 307.84 313.52 292.47 HONG KONG DOLLAR 7.7665 7.7638 7.7603 7.7480 INDIA RUPEE 43.60 43.50 43.36 42.58 *IRELAND POUND N.A. N.A. N.A. 1.4724 ITALY LIRA N.A. N.A. N.A. 1678.92 JAPAN YEN 106.88 113.23 119.33 134.48 MALAYSIA RINGGIT 3.8000 3.8000 3.8000 3.8050 MEXICO PESO 9.341 9.398 9.370 10.219 NETHERLANDS GUILDER N.A. N.A. N.A. 1.9169 *NEW ZEALAND DOLLAR 0.5230 0.5259 0.5261 0.5044 NORWAY KRONE 7.8361 7.8036 7.9029 7.5564 PORTUGAL ESCUDO N.A. N.A. N.A. 174.19 SINGAPORE DOLLAR 1.6965 1.6787 1.6958 1.7226 SOUTH AFRICA RAND 6.0563 6.1302 6.1182 6.0966 SOUTH KOREA WON 1201.00 1198.31 1189.10 1375.54 SPAIN PESETA N.A. N.A. N.A. 144.33 SRI LANKA RUPEE 71.942 71.868 71.912 66.260 SWEDEN KRONA 8.2264 8.2589 8.4431 7.8816 SWITZERLAND FRANC 1.5262 1.5093 1.5474 1.4000 TAIWAN DOLLAR 31.848 32.076 32.338 34.646 THAILAND BAHT 40.060 38.060 37.143 40.402 *UNITED KINGDOM POUND 1.6247 1.6058 1.5751 1.6823 VENEZUELA BOLIVAR 625.41 615.95 611.17 583.85 MEMO: UNITED STATES DOLLAR 1)BROAD JAN97=100 115.76 116.46 117.48 118.85 2)MAJOR CURRENCY MAR73=100 93.24 94.74 96.78 96.99 3)OITP JAN97=100 130.19 129.26 128.26 131.38 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