G.5(405) September 2, 2008 FOREIGN EXCHANGE RATES THE TABLE BELOW SHOWS THE AVERAGE RATES OF EXCHANGE IN AUGUST 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 August July June August *AUSTRALIA DOLLAR 0.8815 0.9620 0.9511 0.8291 BRAZIL REAL 1.6127 1.5900 1.6179 1.9620 CANADA DOLLAR 1.0535 1.0130 1.0166 1.0579 CHINA, P.R. YUAN 6.8462 6.8355 6.8993 7.5734 DENMARK KRONE 4.9894 4.7335 4.7926 5.4621 *EMU MEMBERS EURO 1.4955 1.5759 1.5562 1.3626 HONG KONG DOLLAR 7.8076 7.8001 7.8073 7.8155 INDIA RUPEE 42.9057 42.7027 42.7633 40.6791 JAPAN YEN 109.3624 106.8518 106.9152 116.7335 MALAYSIA RINGGIT 3.3300 3.2476 3.2568 3.4826 MEXICO PESO 10.1154 10.2094 10.3269 11.0438 *NEW ZEALAND DOLLAR 0.7091 0.7546 0.7616 0.7259 NORWAY KRONE 5.3331 5.1058 5.1351 5.8492 SINGAPORE DOLLAR 1.4052 1.3591 1.3679 1.5226 SOUTH AFRICA RAND 7.6651 7.6114 7.9367 7.2153 SOUTH KOREA WON 1046.1143 1015.0545 1031.4857 934.4848 SRI LANKA RUPEE 107.7181 107.6086 107.7633 112.1839 SWEDEN KRONA 6.2845 6.0015 6.0249 6.8429 SWITZERLAND FRANC 1.0841 1.0283 1.0371 1.2027 TAIWAN DOLLAR 31.2205 30.4141 30.3705 32.9617 THAILAND BAHT 33.8195 33.4705 33.1752 31.7961 *UNITED KINGDOM POUND 1.8865 1.9888 1.9664 2.0110 VENEZUELA BOLIVAR 2.1446 2.1446 2.1446 2.1446 MEMO: UNITED STATES DOLLAR 1)BROAD JAN97=100 97.9342 95.4015 96.0884 103.3318 2)MAJOR CURRENCY MAR73=100 74.0869 70.9117 71.4202 77.5133 3)OITP JAN97=100 122.9402 121.8949 122.7758 130.7238 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