H.10(512) May 23, 2003 FOREIGN EXCHANGE RATES FOR THE WEEK ENDING MAY 23, 2003 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 May. 19 May. 20 May. 21 May. 22 May. 23 *AUSTRALIA DOLLAR 0.6560 0.6572 0.6563 0.6585 0.6575 BRAZIL REAL 2.9825 3.0100 3.0025 2.9900 2.9270 CANADA DOLLAR 1.3604 1.3446 1.3498 1.3679 1.3783 CHINA, P.R. YUAN 8.2768 8.2768 8.2769 8.2768 8.2769 DENMARK KRONE 6.3550 6.3520 6.3420 6.3465 6.2975 *EMU MEMBERS EURO 1.1686 1.1685 1.1707 1.1700 1.1786 HONG KONG DOLLAR 7.7990 7.7991 7.7992 7.7991 7.7990 INDIA RUPEE 46.99 46.95 46.90 46.91 46.87 JAPAN YEN 116.58 116.77 117.23 117.25 116.89 MALAYSIA RINGGIT 3.8000 3.8000 3.8000 3.8000 3.8000 MEXICO PESO 10.347 10.251 10.269 10.244 10.235 *NEW ZEALAND DOLLAR 0.5855 0.5860 0.5835 0.5829 0.5825 NORWAY KRONE 6.8040 6.7860 6.7100 6.7185 6.6770 SINGAPORE DOLLAR 1.7262 1.7243 1.7245 1.7228 1.7233 SOUTH AFRICA RAND 7.9375 7.7600 7.7400 7.8300 7.8800 SOUTH KOREA WON 1195.00 1202.00 1194.30 1195.40 1194.40 SRI LANKA RUPEE 97.230 97.250 97.240 97.250 97.270 SWEDEN KRONA 7.8570 7.8650 7.8260 7.8285 7.7920 SWITZERLAND FRANC 1.2945 1.2940 1.2903 1.2940 1.2930 TAIWAN DOLLAR 34.600 34.600 34.660 34.690 34.700 THAILAND BAHT 42.030 42.020 41.980 41.960 41.890 *UNITED KINGDOM POUND 1.6352 1.6393 1.6415 1.6346 1.6376 VENEZUELA BOLIVAR 1600.00 1600.00 1600.00 1600.00 1600.00 MEMO: UNITED STATES DOLLAR 1)BROAD JAN97=100 117.89 117.60 117.65 117.90 117.75 2)MAJOR CURRENCY MAR73=100 88.61 88.30 88.41 88.83 88.75 3)OITP JAN97=100 143.08 142.89 142.82 142.68 142.43 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 30, 2003 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 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.