G.5(405) April 1, 2008 FOREIGN EXCHANGE RATES THE TABLE BELOW SHOWS THE AVERAGE RATES OF EXCHANGE IN MARCH 2008 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 2008 2008 2008 2007 COUNTRY UNIT March February January March *AUSTRALIA DOLLAR 0.9221 0.9133 0.8823 0.7932 BRAZIL REAL 1.7090 1.7290 1.7710 2.0883 CANADA DOLLAR 1.0029 0.9986 1.0099 1.1682 CHINA, P.R. YUAN 7.0722 7.1644 7.2405 7.7369 DENMARK KRONE 4.8043 5.0507 5.0575 5.6232 *EMU MEMBERS EURO 1.5520 1.4759 1.4728 1.3246 HONG KONG DOLLAR 7.7813 7.7963 7.8044 7.8132 INDIA RUPEE 40.15 39.67 39.27 43.79 JAPAN YEN 100.76 107.03 107.82 117.26 MALAYSIA RINGGIT 3.1841 3.2216 3.2653 3.4894 MEXICO PESO 10.733 10.768 10.906 11.114 *NEW ZEALAND DOLLAR 0.8004 0.7969 0.7740 0.6995 NORWAY KRONE 5.1495 5.3851 5.3993 6.1401 SINGAPORE DOLLAR 1.3843 1.4106 1.4299 1.5242 SOUTH AFRICA RAND 7.9921 7.6578 6.9962 7.3525 SOUTH KOREA WON 981.73 944.01 942.06 942.88 SRI LANKA RUPEE 107.684 107.827 108.156 109.294 SWEDEN KRONA 6.0613 6.3450 6.3978 7.0171 SWITZERLAND FRANC 1.0126 1.0890 1.1006 1.2178 TAIWAN DOLLAR 30.577 31.616 32.359 33.010 THAILAND BAHT 31.404 31.174 30.305 32.642 *UNITED KINGDOM POUND 2.0015 1.9646 1.9702 1.9474 VENEZUELA BOLIVAR 2.14 2.14 2.14 2.14 MEMO: UNITED STATES DOLLAR 1)BROAD JAN97=100 95.77 97.67 98.48 106.67 2)MAJOR CURRENCY MAR73=100 70.32 72.57 73.06 81.23 3)OITP JAN97=100 123.98 124.83 126.08 132.80 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