G.5(405) August 1, 2008 FOREIGN EXCHANGE RATES THE TABLE BELOW SHOWS THE AVERAGE RATES OF EXCHANGE IN JULY 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 July June May July *AUSTRALIA DOLLAR 0.9620 0.9511 0.9492 0.8677 BRAZIL REAL 1.5910 1.6179 1.6585 1.8812 CANADA DOLLAR 1.0131 1.0166 0.9993 1.0502 CHINA, P.R. YUAN 6.8365 6.8993 6.9725 7.5757 DENMARK KRONE 4.7345 4.7926 4.7963 5.4199 *EMU MEMBERS EURO 1.5755 1.5562 1.5554 1.3726 HONG KONG DOLLAR 7.8000 7.8073 7.7988 7.8197 INDIA RUPEE 42.7201 42.7633 42.0019 40.2738 JAPAN YEN 106.8435 106.9152 104.3595 121.4148 MALAYSIA RINGGIT 3.2484 3.2568 3.2127 3.4397 MEXICO PESO 10.2157 10.3269 10.4381 10.8146 *NEW ZEALAND DOLLAR 0.7547 0.7616 0.7777 0.7862 NORWAY KRONE 5.1050 5.1351 5.0571 5.7807 SINGAPORE DOLLAR 1.3592 1.3679 1.3659 1.5156 SOUTH AFRICA RAND 7.6161 7.9367 7.6076 6.9730 SOUTH KOREA WON 1016.5870 1031.4857 1034.1333 918.1190 SRI LANKA RUPEE 107.6093 107.7633 107.7705 111.6724 SWEDEN KRONA 6.0011 6.0249 5.9887 6.6933 SWITZERLAND FRANC 1.0282 1.0371 1.0448 1.2069 TAIWAN DOLLAR 30.4143 30.3705 30.5890 32.8095 THAILAND BAHT 33.4683 33.1752 32.0262 30.3867 *UNITED KINGDOM POUND 1.9886 1.9664 1.9650 2.0355 VENEZUELA BOLIVAR 2.1446 2.1446 2.1446 2.1446 MEMO: UNITED STATES DOLLAR 1)BROAD JAN97=100 95.4220 96.0884 95.8313 102.7679 2)MAJOR CURRENCY MAR73=100 70.9195 71.4202 70.7486 77.5055 3)OITP JAN97=100 121.9338 122.7758 123.3326 129.2623 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