G.5(405) March 1, 2000 FOREIGN EXCHANGE RATES THE TABLE BELOW SHOWS THE AVERAGE RATES OF EXCHANGE IN FEBRUARY 2000 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 2000 2000 1999 1999 COUNTRY UNIT February January December February *AUSTRALIA DOLLAR 0.6278 0.6560 0.6410 0.6399 BRAZIL REAL 1.7765 1.8057 1.8442 1.9261 CANADA DOLLAR 1.4512 1.4486 1.4722 1.4977 CHINA, P.R. YUAN 8.2781 8.2792 8.2794 8.2755 DENMARK KRONE 7.5725 7.3492 7.3597 6.6379 *EMU MEMBERS EURO 0.9834 1.0131 1.0110 1.1203 GREECE DRACHMA 338.87 326.86 326.19 287.41 HONG KONG DOLLAR 7.7816 7.7791 7.7728 7.7490 INDIA RUPEE 43.65 43.59 43.52 42.53 JAPAN YEN 109.39 105.30 102.58 116.67 MALAYSIA RINGGIT 3.8000 3.8000 3.8000 3.8000 MEXICO PESO 9.427 9.494 9.427 10.006 *NEW ZEALAND DOLLAR 0.4903 0.5127 0.5087 0.5435 NORWAY KRONE 8.2374 8.0241 8.0113 7.7240 SINGAPORE DOLLAR 1.7028 1.6757 1.6745 1.7004 SOUTH AFRICA RAND 6.3209 6.1309 6.1503 6.1146 SOUTH KOREA WON 1129.75 1130.99 1136.80 1188.84 SRI LANKA RUPEE 73.552 73.140 72.018 69.069 SWEDEN KRONA 8.6480 8.4918 8.4910 7.9532 SWITZERLAND FRANC 1.6348 1.5903 1.5841 1.4272 TAIWAN DOLLAR 30.806 30.890 31.625 32.564 THAILAND BAHT 37.759 37.380 38.227 37.137 *UNITED KINGDOM POUND 1.6000 1.6404 1.6132 1.6276 VENEZUELA BOLIVAR 659.44 652.81 644.28 577.32 MEMO: UNITED STATES DOLLAR 1)BROAD JAN97=100 117.44 115.95 116.09 116.84 2)MAJOR CURRENCY MAR73=100 95.31 93.14 93.23 93.18 3)OITP JAN97=100 129.11 129.14 129.34 131.31 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 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