G.5(405)                                                       November 1, 2006



 FOREIGN EXCHANGE RATES

 THE TABLE BELOW SHOWS THE AVERAGE RATES OF EXCHANGE IN OCTOBER 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        October     September     August       October

 *AUSTRALIA        DOLLAR          0.7544       0.7549       0.7631       0.7535
  BRAZIL           REAL            2.1458       2.1679       2.1553       2.2536
  CANADA           DOLLAR          1.1285       1.1161       1.1182       1.1774
  CHINA, P.R.      YUAN            7.9018       7.9334       7.9722       8.0895
  DENMARK          KRONE           5.9085       5.8633       5.8236       6.2064
 *EMU MEMBERS      EURO            1.2617       1.2722       1.2810       1.2022
  HONG KONG        DOLLAR          7.7849       7.7825       7.7762       7.7559
  INDIA            RUPEE          45.36        46.01        46.45        44.76
  JAPAN            YEN           118.61       117.21       115.92       114.87
  MALAYSIA         RINGGIT         3.6762       3.6699       3.6730       3.7735
  MEXICO           PESO           10.885       10.989       10.873       10.835
 *NEW ZEALAND      DOLLAR          0.6621       0.6551       0.6348       0.6983
  NORWAY           KRONE           6.6591       6.5008       6.2423       6.5103
  SINGAPORE        DOLLAR          1.5775       1.5803       1.5754       1.6915
  SOUTH AFRICA     RAND            7.6300       7.4465       6.9503       6.5878
  SOUTH KOREA      WON           952.64       952.29       960.95      1045.88
  SRI LANKA        RUPEE         105.718      102.595      103.669      101.485
  SWEDEN           KRONA           7.3338       7.2844       7.1890       7.8433
  SWITZERLAND      FRANC           1.2602       1.2455       1.2318       1.2880
  TAIWAN           DOLLAR         33.194       32.904       32.761       33.468
  THAILAND         BAHT           37.281       37.427       37.587       40.895
 *UNITED KINGDOM   POUND           1.8765       1.8839       1.8941       1.7651
  VENEZUELA        BOLIVAR      2144.60      2144.60      2144.60      2144.60

  MEMO:
  UNITED STATES    DOLLAR
1)BROAD            JAN97=100     108.39       108.07       107.77       111.70
2)MAJOR CURRENCY   MAR73=100      82.52        81.75        81.33        85.12
3)OITP             JAN97=100     134.83       135.39       135.39       138.78


 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

Statistical releases