G.5A(405) January 3, 2000 THE TABLE BELOW SHOWS THE AVERAGE RATES OF EXCHANGE IN 1999 TOGETHER WITH COMPARABLE FIGURES FOR OTHER YEARS. 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. (RATES IN CURRENCY UNITS PER DOLLAR) MONETARY COUNTRY UNIT 1999 1998 1997 1996 *AUSTRALIA DOLLAR 0.6454 0.6291 0.7437 0.7828 AUSTRIA SCHILLING N.A. 12.379 12.206 10.589 BELGIUM FRANC N.A. 36.31 35.81 30.97 BRAZIL REAL 1.8207 1.1605 1.0779 1.0051 CANADA DOLLAR 1.4858 1.4836 1.3849 1.3638 CHINA,P.R. YUAN 8.2781 8.3008 8.3193 8.3389 DENMARK KRONE 6.9900 6.7030 6.6092 5.8003 *EMU MEMBERS EURO 1.0653 N.A. N.A. N.A. *EURO COMMUNITY ECU N.A. 1.1224 1.1300 1.2520 FINLAND MARKKA N.A. 5.3473 5.1956 4.5948 FRANCE FRANC N.A. 5.8995 5.8393 5.1158 GERMANY D. MARK N.A. 1.7597 1.7348 1.5049 GREECE DRACHMA 306.30 295.70 273.28 240.82 HONG KONG DOLLAR 7.7594 7.7467 7.7431 7.7345 INDIA RUPEE 43.13 41.36 36.36 35.51 *IRELAND POUND N.A. 1.4248 1.5163 1.5995 ITALY LIRA N.A. 1736.85 1703.81 1542.76 JAPAN YEN 113.73 130.99 121.06 108.78 MALAYSIA RINGGIT 3.8000 3.9254 2.8173 2.5154 MEXICO PESO 9.553 9.152 7.918 7.600 NETHERLANDS GUILDER N.A. 1.9837 1.9525 1.6863 *NEW ZEALAND DOLLAR 0.5294 0.5361 0.6625 0.6877 NORWAY KRONE 7.8071 7.5521 7.0857 6.4594 PORTUGAL ESCUDO N.A. 180.25 175.44 154.28 SINGAPORE DOLLAR 1.6951 1.6722 1.4857 1.4100 SOUTH AFRICA RAND 6.1191 5.5417 4.6072 4.3011 SOUTH KOREA WON 1189.84 1400.40 947.65 805.00 SPAIN PESETA N.A. 149.41 146.53 126.68 SRI LANKA RUPEE 70.868 65.005 59.026 55.289 SWEDEN KRONA 8.2740 7.9522 7.6446 6.7082 SWITZERLAND FRANC 1.5045 1.4506 1.4514 1.2361 TAIWAN DOLLAR 32.322 33.547 28.775 27.468 THAILAND BAHT 37.887 41.262 31.072 25.359 *UNITED KINGDOM POUND 1.6172 1.6573 1.6376 1.5607 VENEZUELA BOLIVAR 606.82 548.39 488.39 417.19 MEMO: UNITED STATES DOLLAR 1)BROAD JAN97=100 116.87 116.48 104.44 97.40 2)MAJOR CURRENCY MAR73=100 94.06 95.79 91.24 84.60 3)OITP JAN97=100 129.94 126.03 104.67 98.26 This release is available online at http://www.federalreserve.gov/release/. For more information on exchange rate indexes for the U.S. dollar, see "New Summary Measures of the Foreign Exchange Value of the Dollar," Federal Reserve Bulletin, vol. 84 (October 1998), pp. 811-18 (http://www.federalreserve.gov/pubs/bulletin/) and "Index of the Weighted-Average Exchange Value of the U.S. Dollar: Revision," Federal Reserve Bulletin, vol. 64 (August 1978), p. 700. Weights for 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. * Value is U.S. dollars. 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. As of the January 3, 2000 release, the euro is reported in place of the individual euro-area currencies. These currency rates can be derived from the euro rate by using the fixed conversion rates (in currencies per euro) given below: 1 EUR = 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