G.5(405) December 1, 1999 FOREIGN EXCHANGE RATES THE TABLE BELOW SHOWS THE AVERAGE RATES OF EXCHANGE IN NOVEMBER 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 November October September November *AUSTRALIA DOLLAR 0.6388 0.6509 0.6495 0.6349 AUSTRIA SCHILLING N.A. N.A. N.A. 11.840 BELGIUM FRANC N.A. N.A. N.A. 34.71 BRAZIL REAL 1.9314 1.9688 1.8987 1.1932 CANADA DOLLAR 1.4674 1.4776 1.4771 1.5404 CHINA, P.R. YUAN 8.2782 8.2775 8.2774 8.2778 DENMARK KRONE 7.2019 6.9450 7.0828 6.3960 *EMU MEMBERS EURO 1.0328 1.0706 1.0497 N.A. *EURO COMMUNITY ECU N.A. N.A. N.A. 1.1681 FINLAND MARKKA N.A. N.A. N.A. 5.1163 FRANCE FRANC N.A. N.A. N.A. 5.6422 GERMANY D. MARK N.A. N.A. N.A. 1.6827 GREECE DRACHMA 318.24 307.71 311.68 282.64 HONG KONG DOLLAR 7.7718 7.7696 7.7665 7.7432 INDIA RUPEE 43.46 43.55 43.60 42.43 *IRELAND POUND N.A. N.A. N.A. 1.4777 ITALY LIRA N.A. N.A. N.A. 1664.91 JAPAN YEN 104.65 105.97 106.88 120.29 MALAYSIA RINGGIT 3.8000 3.8000 3.8000 3.8000 MEXICO PESO 9.416 9.575 9.341 9.968 NETHERLANDS GUILDER N.A. N.A. N.A. 1.8969 *NEW ZEALAND DOLLAR 0.5122 0.5142 0.5230 0.5340 NORWAY KRONE 7.9367 7.7402 7.8361 7.4562 PORTUGAL ESCUDO N.A. N.A. N.A. 172.52 SINGAPORE DOLLAR 1.6699 1.6757 1.6965 1.6378 SOUTH AFRICA RAND 6.1424 6.1029 6.0563 5.6511 SOUTH KOREA WON 1176.98 1205.29 1201.00 1294.01 SPAIN PESETA N.A. N.A. N.A. 143.05 SRI LANKA RUPEE 72.040 71.747 71.942 67.578 SWEDEN KRONA 8.3586 8.1492 8.2264 8.0140 SWITZERLAND FRANC 1.5543 1.4896 1.5262 1.3852 TAIWAN DOLLAR 31.794 31.828 31.848 32.603 THAILAND BAHT 38.749 39.416 40.060 36.527 *UNITED KINGDOM POUND 1.6205 1.6572 1.6247 1.6611 VENEZUELA BOLIVAR 634.80 630.75 625.41 569.66 MEMO: UNITED STATES DOLLAR 1)BROAD JAN97=100 116.08 115.88 116.38 115.73 2)MAJOR CURRENCY MAR73=100 92.87 91.94 92.92 93.53 3)OITP JAN97=100 129.93 131.06 130.60 127.90 This release is available online at http://www.federalreserve.gov/releases/G5. 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/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 has produced revised index values that will appear in the dollar indexes starting with the December 1, 1999, release. * 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