G.5(405) July 1, 2008 FOREIGN EXCHANGE RATES THE TABLE BELOW SHOWS THE AVERAGE RATES OF EXCHANGE IN JUNE 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 June May April June *AUSTRALIA DOLLAR 0.9511 0.9492 0.9309 0.8423 BRAZIL REAL 1.6179 1.6585 1.6863 1.9323 CANADA DOLLAR 1.0166 0.9993 1.0137 1.0651 CHINA, P.R. YUAN 6.8993 6.9725 6.9997 7.6333 DENMARK KRONE 4.7926 4.7963 4.7354 5.5463 *EMU MEMBERS EURO 1.5562 1.5554 1.5754 1.3421 HONG KONG DOLLAR 7.8073 7.7988 7.7910 7.8142 INDIA RUPEE 42.7633 42.0019 39.9668 40.5905 JAPAN YEN 106.9152 104.3595 102.6777 122.6886 MALAYSIA RINGGIT 3.2568 3.2127 3.1604 3.4444 MEXICO PESO 10.3269 10.4381 10.5146 10.8330 *NEW ZEALAND DOLLAR 0.7616 0.7777 0.7897 0.7570 NORWAY KRONE 5.1351 5.0571 5.0541 5.9980 SINGAPORE DOLLAR 1.3679 1.3659 1.3643 1.5367 SOUTH AFRICA RAND 7.9367 7.6076 7.7585 7.1515 SOUTH KOREA WON 1031.4857 1034.1333 986.8636 927.8667 SRI LANKA RUPEE 107.7633 107.7705 107.7791 110.9662 SWEDEN KRONA 6.0249 5.9887 5.9470 6.9485 SWITZERLAND FRANC 1.0371 1.0448 1.0138 1.2330 TAIWAN DOLLAR 30.3705 30.5890 30.3555 32.9743 THAILAND BAHT 33.1752 32.0262 31.5582 32.3176 *UNITED KINGDOM POUND 1.9664 1.9650 1.9816 1.9867 VENEZUELA BOLIVAR 2.1446 2.1446 2.1446 2.1446 MEMO: UNITED STATES DOLLAR 1)BROAD JAN97=100 96.0884 95.8313 95.4757 104.1172 2)MAJOR CURRENCY MAR73=100 71.4202 70.7486 70.4683 78.9312 3)OITP JAN97=100 122.7758 123.3326 122.9073 130.2326 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