G.5(405)                                                           July 2, 2007



 FOREIGN EXCHANGE RATES

 THE TABLE BELOW SHOWS THE AVERAGE RATES OF EXCHANGE IN JUNE 2007 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       2007         2007         2007         2006
   COUNTRY           UNIT         June          May         April        June

 *AUSTRALIA        DOLLAR          0.8423       0.8254       0.8273       0.7399
  BRAZIL           REAL            1.9323       1.9836       2.0302       2.2493
  CANADA           DOLLAR          1.0651       1.0951       1.1350       1.1137
  CHINA, P.R.      YUAN            7.6333       7.6773       7.7247       8.0042
  DENMARK          KRONE           5.5463       5.5120       5.5155       5.8897
 *EMU MEMBERS      EURO            1.3421       1.3518       1.3513       1.2661
  HONG KONG        DOLLAR          7.8142       7.8187       7.8154       7.7636
  INDIA            RUPEE          40.59        40.57        42.02        45.89
  JAPAN            YEN           122.69       120.77       118.93       114.63
  MALAYSIA         RINGGIT         3.4444       3.4002       3.4364       3.6638
  MEXICO           PESO           10.833       10.822       10.980       11.393
 *NEW ZEALAND      DOLLAR          0.7570       0.7334       0.7345       0.6190
  NORWAY           KRONE           5.9980       6.0220       6.0098       6.2070
  SINGAPORE        DOLLAR          1.5367       1.5231       1.5150       1.5912
  SOUTH AFRICA     RAND            7.1515       7.0148       7.1026       6.9738
  SOUTH KOREA      WON           927.87       927.56       930.69       954.45
  SRI LANKA        RUPEE         110.966      110.800      109.360      103.525
  SWEDEN           KRONA           6.9485       6.8094       6.8371       7.2949
  SWITZERLAND      FRANC           1.2330       1.2211       1.2124       1.2321
  TAIWAN           DOLLAR         32.974       33.278       33.145       32.440
  THAILAND         BAHT           32.318       32.818       32.421       38.349
 *UNITED KINGDOM   POUND           1.9867       1.9842       1.9879       1.8435
  VENEZUELA        BOLIVAR      2144.60      2144.60      2144.60      2144.60

  MEMO:
  UNITED STATES    DOLLAR
1)BROAD            JAN97=100     104.12       104.40       105.30       108.62
2)MAJOR CURRENCY   MAR73=100      78.93        79.20        79.87        81.51
3)OITP             JAN97=100     130.23       130.48       131.64       137.35


 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 "Indexes of the Foreign
 Exchange Value of the Dollar," Federal Reserve Bulletin, 91:1 (Winter 2005), pp. 1-8,
 (http://www.federalreserve.gov/pubs/bulletin/2005/winter05_index.pdf). 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 January 2007 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
                =  239.640  SLOVENIAN TOLAR

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