G.5(405) June 1, 2006 FOREIGN EXCHANGE RATES THE TABLE BELOW SHOWS THE AVERAGE RATES OF EXCHANGE IN MAY 2006 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 2006 2006 2006 2005 COUNTRY UNIT May April March May *AUSTRALIA DOLLAR 0.7639 0.7369 0.7266 0.7663 BRAZIL REAL 2.1697 2.1281 2.1528 2.4554 CANADA DOLLAR 1.1100 1.1441 1.1573 1.2555 CHINA, P.R. YUAN 8.0131 8.0143 8.0350 8.2765 DENMARK KRONE 5.8398 6.0798 6.2025 5.8628 *EMU MEMBERS EURO 1.2767 1.2273 1.2028 1.2697 HONG KONG DOLLAR 7.7538 7.7561 7.7591 7.7914 INDIA RUPEE 45.20 44.82 44.34 43.41 JAPAN YEN 111.73 117.07 117.28 106.60 MALAYSIA RINGGIT 3.6091 3.6626 3.7040 3.8000 MEXICO PESO 11.091 11.049 10.749 10.976 *NEW ZEALAND DOLLAR 0.6311 0.6220 0.6342 0.7191 NORWAY KRONE 6.1040 6.3922 6.6317 6.3656 SINGAPORE DOLLAR 1.5755 1.6008 1.6211 1.6507 SOUTH AFRICA RAND 6.3128 6.0811 6.2436 6.3267 SOUTH KOREA WON 940.82 952.60 974.71 1001.84 SRI LANKA RUPEE 102.838 102.635 102.648 99.791 SWEDEN KRONA 7.3050 7.6005 7.8109 7.2382 SWITZERLAND FRANC 1.2190 1.2830 1.3050 1.2172 TAIWAN DOLLAR 31.737 32.288 32.459 31.265 THAILAND BAHT 37.947 37.952 38.947 39.800 *UNITED KINGDOM POUND 1.8687 1.7680 1.7442 1.8559 VENEZUELA BOLIVAR 2144.55 2144.60 2144.60 2144.60 MEMO: UNITED STATES DOLLAR 1)BROAD JAN97=100 107.45 109.83 110.63 110.48 2)MAJOR CURRENCY MAR73=100 80.78 84.05 85.17 83.34 3)OITP JAN97=100 135.56 135.80 135.88 138.87 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 2005 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 Bloomberg. * 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