G.5(405) January 31, 2005 FOREIGN EXCHANGE RATES THE TABLE BELOW SHOWS THE AVERAGE RATES OF EXCHANGE IN JANUARY 2005 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 2005 2004 2004 2004 COUNTRY UNIT January December November January *AUSTRALIA DOLLAR 0.7668 0.7675 0.7704 0.7717 BRAZIL REAL 2.6895 2.7150 2.7877 2.8533 CANADA DOLLAR 1.2248 1.2189 1.1968 1.2958 CHINA, P.R. YUAN 8.2765 8.2765 8.2765 8.2770 DENMARK KRONE 5.6699 5.5449 5.7178 5.8952 *EMU MEMBERS EURO 1.3123 1.3406 1.2997 1.2638 HONG KONG DOLLAR 7.7948 7.7760 7.7755 7.7663 INDIA RUPEE 43.62 43.85 45.03 45.46 JAPAN YEN 103.34 103.81 104.70 106.27 MALAYSIA RINGGIT 3.8000 3.8000 3.8000 3.8000 MEXICO PESO 11.263 11.201 11.371 10.920 *NEW ZEALAND DOLLAR 0.7065 0.7149 0.7009 0.6738 NORWAY KRONE 6.2672 6.1355 6.2700 6.8117 SINGAPORE DOLLAR 1.6377 1.6402 1.6505 1.6965 SOUTH AFRICA RAND 5.9587 5.7235 6.0305 6.9398 SOUTH KOREA WON 1037.98 1050.37 1086.44 1183.35 SRI LANKA RUPEE 98.929 104.748 104.632 98.009 SWEDEN KRONA 6.8991 6.6969 6.9257 7.2334 SWITZERLAND FRANC 1.1792 1.1465 1.1711 1.2391 TAIWAN DOLLAR 31.847 32.170 32.777 33.669 THAILAND BAHT 38.739 39.183 40.282 39.124 *UNITED KINGDOM POUND 1.8797 1.9286 1.8607 1.8255 VENEZUELA BOLIVAR 1915.20 1915.20 1915.20 1600.00 MEMO: UNITED STATES DOLLAR 1)BROAD JAN97=100 109.55 108.93 110.19 112.54 2)MAJOR CURRENCY MAR73=100 81.12 80.19 81.10 84.43 3)OITP JAN97=100 141.00 141.20 142.89 142.54 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 (OITP) 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 December 31, 2003, release of this report. The source for exchange rates not listed in the table above but used in the calculation of the broad and OITP indexes is Reuters Limited. * 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