H.10(512)                                                               December 18, 2000



 FOREIGN EXCHANGE RATES

 FOR THE WEEK ENDING DECEMBER 15, 2000

 The Board of Governors of the Federal Reserve System is advised that the Federal Reserve
 Bank of New York has certified for customs purposes the following noon buying rates in
 New York City for cable transfers payable in foreign currencies:


                (Rates in currency units per U.S. dollar except as noted)


                 MONETARY
   COUNTRY         UNIT       Dec. 11      Dec. 12      Dec. 13      Dec. 14      Dec. 15

 *AUSTRALIA      DOLLAR         0.5400       0.5420       0.5380       0.5397       0.5458
  BRAZIL         REAL           1.9620       1.9680       1.9650       1.9650       1.9650
  CANADA         DOLLAR         1.5227       1.5249       1.5205       1.5165       1.5174
  CHINA, P.R.    YUAN           8.2773       8.2771       8.2770       8.2768       8.2768
  DENMARK        KRONE          8.4980       8.4945       8.5140       8.4180       8.3000
 *EMU MEMBERS    EURO           0.8771       0.8775       0.8755       0.8858       0.8981
  GREECE         DRACHMA      388.40       388.30       389.15       385.10       379.50
  HONG KONG      DOLLAR         7.7969       7.7974       7.8003       7.8003       7.8000
  INDIA          RUPEE         46.78        46.78        46.80        46.80        46.80
  JAPAN          YEN          110.77       111.50       112.40       112.42       112.55
  MALAYSIA       RINGGIT        3.8000       3.8000       3.8000       3.8000       3.8000
  MEXICO         PESO           9.447        9.471        9.451        9.417        9.409
 *NEW ZEALAND    DOLLAR         0.4227       0.4214       0.4205       0.4211       0.4279
  NORWAY         KRONE          9.2110       9.2110       9.2470       9.1750       9.0280
  SINGAPORE      DOLLAR         1.7332       1.7355       1.7415       1.7380       1.7355
  SOUTH AFRICA   RAND           7.6680       7.7430       7.7725       7.7375       7.6900
  SOUTH KOREA    WON         1184.00      1191.00      1192.10      1203.00      1208.00
  SRI LANKA      RUPEE         82.100       82.100       82.200       82.250       82.350
  SWEDEN         KRONA          9.7205       9.7195       9.7920       9.6800       9.6000
  SWITZERLAND    FRANC          1.7150       1.7144       1.7175       1.6990       1.6795
  TAIWAN         DOLLAR        33.100       33.060       33.160       33.100       33.100
  THAILAND       BAHT          43.490       43.550       43.600       43.550       43.450
 *UNITED KINGDOM POUND          1.4554       1.4480       1.4510       1.4665       1.4763
  VENEZUELA      BOLIVAR      696.69       698.55       698.81       699.25       698.54

  MEMO:
  UNITED STATES   DOLLAR
1)BROAD          JAN97=100    124.03       124.27       124.42       123.97       123.62
2)MAJOR CURRENCY MAR73=100    101.94       102.17       102.37       101.77       101.26
3)OITP           JAN97=100    134.18       134.41       134.43       134.33       134.33


 This release is available online at http://www.federalreserve.gov/releases/H10.

 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.  The most recent annual revision to the trade weights has
 produced revised index values that appear in the dollar indexes starting with the
 November 1, 1999, release.

 *  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.

 As of the January 11, 1999 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