G.5(405) May 31, 2000 FOREIGN EXCHANGE RATES THE TABLE BELOW SHOWS THE AVERAGE RATES OF EXCHANGE IN MAY 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. (Currency units per U.S. dollar except as noted) MONETARY 2000 2000 2000 1999 COUNTRY UNIT May April March May *AUSTRALIA DOLLAR 0.5784 0.5960 0.6094 0.6628 BRAZIL REAL 1.8278 1.7696 1.7424 1.6853 CANADA DOLLAR 1.4957 1.4689 1.4608 1.4611 CHINA, P.R. YUAN 8.2781 8.2793 8.2786 8.2785 DENMARK KRONE 8.2329 7.8872 7.7228 6.9925 *EMU MEMBERS EURO 0.9059 0.9449 0.9643 1.0630 GREECE DRACHMA 371.63 355.02 346.33 305.96 HONG KONG DOLLAR 7.7907 7.7880 7.7848 7.7531 INDIA RUPEE 44.08 43.68 43.64 42.86 JAPAN YEN 108.32 105.63 106.31 122.00 MALAYSIA RINGGIT 3.8000 3.8000 3.8000 3.8000 MEXICO PESO 9.506 9.394 9.289 9.395 *NEW ZEALAND DOLLAR 0.4708 0.4960 0.4902 0.5530 NORWAY KRONE 9.0533 8.6272 8.4100 7.7496 SINGAPORE DOLLAR 1.7286 1.7096 1.7153 1.7122 SOUTH AFRICA RAND 7.0238 6.6480 6.4675 6.1809 SOUTH KOREA WON 1119.49 1110.32 1116.39 1197.92 SRI LANKA RUPEE 74.867 74.123 73.810 70.581 SWEDEN KRONA 9.0925 8.7486 8.6971 8.4432 SWITZERLAND FRANC 1.7190 1.6657 1.6636 1.5078 TAIWAN DOLLAR 30.772 30.520 30.724 32.791 THAILAND BAHT 38.951 37.993 37.923 37.051 *UNITED KINGDOM POUND 1.5090 1.5823 1.5799 1.6154 VENEZUELA BOLIVAR 680.00 672.73 666.82 596.48 MEMO: UNITED STATES DOLLAR 1)BROAD JAN97=100 120.70 118.10 117.44 117.34 2)MAJOR CURRENCY MAR73=100 99.31 96.31 95.64 95.25 3)OITP JAN97=100 130.43 129.05 128.54 128.96 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. * U.S. dollars per currency unit. 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