H.10(512)                                                                   June 28, 2002



 FOREIGN EXCHANGE RATES

 FOR THE WEEK ENDING JUNE 28, 2002

 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       Jun. 24      Jun. 25      Jun. 26      Jun. 27      Jun. 28

 *AUSTRALIA      DOLLAR         0.5737       0.5683       0.5614       0.5640       0.5628
  BRAZIL         REAL           2.8290       2.8135       2.8570       2.8710       2.8300
  CANADA         DOLLAR         1.5166       1.5218       1.5211       1.5108       1.5190
  CHINA, P.R.    YUAN           8.2770       8.2771       8.2772       8.2771       8.2771
  DENMARK        KRONE          7.5930       7.6690       7.5600       7.5170       7.5350
 *EMU MEMBERS    EURO           0.9786       0.9692       0.9825       0.9885       0.9856
  HONG KONG      DOLLAR         7.8000       7.7999       7.8000       7.8000       7.8000
  INDIA          RUPEE         48.91        48.93        48.87        48.86        48.91
  JAPAN          YEN          121.28       121.90       119.83       119.38       119.85
  MALAYSIA       RINGGIT        3.8000       3.8000       3.8000       3.8000       3.8000
  MEXICO         PESO           9.930        9.815        9.978        9.970        9.980
 *NEW ZEALAND    DOLLAR         0.4950       0.4900       0.4842       0.4897       0.4860
  NORWAY         KRONE          7.5560       7.5910       7.5170       7.4890       7.5240
  SINGAPORE      DOLLAR         1.7674       1.7723       1.7685       1.7680       1.7660
  SOUTH AFRICA   RAND          10.3350      10.3480      10.3000      10.3600      10.3900
  SOUTH KOREA    WON         1208.50      1208.70      1198.90      1197.90      1205.00
  SRI LANKA      RUPEE         96.350       96.380       96.350       96.350       96.300
  SWEDEN         KRONA          9.2625       9.3400       9.2710       9.2125       9.2070
  SWITZERLAND    FRANC          1.5005       1.5140       1.4940       1.4885       1.4920
  TAIWAN         DOLLAR        33.670       33.640       33.520       33.500       33.460
  THAILAND       BAHT          41.840       41.930       41.760       41.650       41.580
 *UNITED KINGDOM POUND          1.5056       1.4999       1.5217       1.5285       1.5245
  VENEZUELA      BOLIVAR     1286.00      1306.00      1311.00      1341.00      1356.00

  MEMO:
  UNITED STATES   DOLLAR
1)BROAD          JAN97=100    125.07       125.35       124.85       124.45       124.70
2)MAJOR CURRENCY MAR73=100     99.74       100.35        99.37        98.83        99.21
3)OITP           JAN97=100    141.32       140.99       141.40       141.34       141.32


 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/). 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 dollar indexes took effect
 with the January 7, 2002, release of this report.

 *  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.

 The euro is reported in place of the individual euro-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

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 please call publication services at Federal Reserve Board at (202) 452-3244.

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