G.5(405) August 29, 2003 FOREIGN EXCHANGE RATES THE TABLE BELOW SHOWS THE AVERAGE RATES OF EXCHANGE IN AUGUST 2003 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 2003 2003 2003 2002 COUNTRY UNIT August July June August *AUSTRALIA DOLLAR 0.6518 0.6607 0.6652 0.5413 BRAZIL REAL 3.0053 2.8833 2.8887 3.1082 CANADA DOLLAR 1.3963 1.3821 1.3525 1.5694 CHINA, P.R. YUAN 8.2770 8.2773 8.2771 8.2767 DENMARK KRONE 6.6653 6.5425 6.3620 7.5948 *EMU MEMBERS EURO 1.1155 1.1365 1.1674 0.9781 HONG KONG DOLLAR 7.7990 7.7990 7.7988 7.8008 INDIA RUPEE 45.96 46.22 46.70 48.62 JAPAN YEN 118.66 118.70 118.33 118.99 MALAYSIA RINGGIT 3.8000 3.8000 3.8000 3.8000 MEXICO PESO 10.783 10.458 10.503 9.839 *NEW ZEALAND DOLLAR 0.5829 0.5864 0.5815 0.4635 NORWAY KRONE 7.4096 7.2924 7.0093 7.6042 SINGAPORE DOLLAR 1.7533 1.7551 1.7351 1.7553 SOUTH AFRICA RAND 7.3945 7.5458 7.8588 10.5878 SOUTH KOREA WON 1178.60 1181.16 1194.14 1197.51 SRI LANKA RUPEE 96.975 97.153 97.236 96.280 SWEDEN KRONA 8.2821 8.0929 7.8116 9.4610 SWITZERLAND FRANC 1.3811 1.3611 1.3196 1.4972 TAIWAN DOLLAR 34.318 34.396 34.633 33.884 THAILAND BAHT 41.656 41.808 41.675 42.193 *UNITED KINGDOM POUND 1.5939 1.6221 1.6609 1.5368 VENEZUELA BOLIVAR 1600.00 1600.00 1600.00 1379.73 MEMO: UNITED STATES DOLLAR 1)BROAD JAN97=100 120.43 119.11 117.93 125.65 2)MAJOR CURRENCY MAR73=100 91.48 90.42 88.68 100.15 3)OITP JAN97=100 144.32 142.84 143.07 142.07 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/). Weights for the 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 (OITIP) index are derived from the broad index weights. The most recent annual revision to the trade weights and the dollar indexes took effect with the January 30, 2003, release of this report. * 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. The euro is reported in place of the individual eure-area currencies. These currency rates can be derived from the dollar/euro rate by using the fixed conversion rates (in currencies per euro) given below: 1 EURO = 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 = 340.750 GREEK DRACHMAS