G.5(405)                                                          April 1, 2009



 FOREIGN EXCHANGE RATES

 THE TABLE BELOW SHOWS THE AVERAGE RATES OF EXCHANGE IN MARCH 2009 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       2009         2009         2009         2008
   COUNTRY           UNIT         March      February      January       March

 *AUSTRALIA        DOLLAR          0.6666       0.6504       0.6754       0.9221
  BRAZIL           REAL            2.3161       2.3230       2.3079       1.7090
  CANADA           DOLLAR          1.2645       1.2452       1.2248       1.0029
  CHINA, P.R.      YUAN            6.8360       6.8363       6.8360       7.0722
  DENMARK          KRONE           5.7137       5.8226       5.6284       4.8043
 *EMU MEMBERS      EURO            1.3050       1.2797       1.3244       1.5520
  HONG KONG        DOLLAR          7.7530       7.7534       7.7563       7.7813
  INDIA            RUPEE          51.1291      49.2484      48.6995      40.1452
  JAPAN            YEN            97.8550      92.9158      90.1205     100.7562
  MALAYSIA         RINGGIT         3.6726       3.6345       3.5705       3.1841
  MEXICO           PESO           14.6466      14.6066      13.8839      10.7328
 *NEW ZEALAND      DOLLAR          0.5336       0.5160       0.5510       0.8004
  NORWAY           KRONE           6.7855       6.8710       6.9566       5.1495
  SINGAPORE        DOLLAR          1.5296       1.5178       1.4913       1.3843
  SOUTH AFRICA     RAND            9.9536       9.9773       9.9076       7.9921
  SOUTH KOREA      WON          1449.6159    1439.5842    1354.3975     981.7348
  SRI LANKA        RUPEE         114.2836     114.1026     113.7685     107.6838
  SWEDEN           KRONA           8.5727       8.5455       8.1044       6.0613
  SWITZERLAND      FRANC           1.1555       1.1639       1.1267       1.0126
  TAIWAN           DOLLAR         34.3041      34.2389      33.3695      30.5771
  THAILAND         BAHT           35.7368      35.3089      34.8710      31.4043
 *UNITED KINGDOM   POUND           1.4170       1.4422       1.4462       2.0015
  VENEZUELA        BOLIVAR         2.1446       2.1446       2.1446       2.1446

  MEMO:
  UNITED STATES    DOLLAR
1)BROAD            JAN97=100     112.4505     111.8151     109.0996      95.7660
2)MAJOR CURRENCY   MAR73=100      83.8370      83.1065      81.0122      70.3205
3)OITP             JAN97=100     143.2446     142.8744     139.5384     123.9649


 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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