H.10(512)                                                                  August 6, 2004



 FOREIGN EXCHANGE RATES

 FOR THE WEEK ENDING AUGUST 6, 2004

 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       Aug. 2       Aug. 3       Aug. 4       Aug. 5       Aug. 6

 *AUSTRALIA      DOLLAR         0.7042       0.7046       0.7037       0.7038       0.7148
  BRAZIL         REAL           3.0505       3.0540       3.0580       3.0580       3.0400
  CANADA         DOLLAR         1.3314       1.3185       1.3152       1.3178       1.3100
  CHINA, P.R.    YUAN           8.2770       8.2770       8.2770       8.2769       8.2769
  DENMARK        KRONE          6.1790       6.1700       6.1690       6.1725       6.0580
 *EMU MEMBERS    EURO           1.2034       1.2051       1.2057       1.2050       1.2272
  HONG KONG      DOLLAR         7.8000       7.7990       7.8003       7.7999       7.7970
  INDIA          RUPEE         46.35        46.35        46.36        46.35        46.33
  JAPAN          YEN          111.08       110.60       111.29       111.53       110.05
  MALAYSIA       RINGGIT        3.8000       3.8000       3.8000       3.8000       3.8000
  MEXICO         PESO          11.430       11.400       11.455       11.448       11.417
 *NEW ZEALAND    DOLLAR         0.6406       0.6450       0.6451       0.6448       0.6538
  NORWAY         KRONE          7.0230       7.0000       6.9725       6.9325       6.8090
  SINGAPORE      DOLLAR         1.7167       1.7185       1.7235       1.7228       1.7160
  SOUTH AFRICA   RAND           6.3255       6.2750       6.2750       6.2575       6.1250
  SOUTH KOREA    WON         1165.00      1165.30      1168.00      1164.00      1163.00
  SRI LANKA      RUPEE        104.000      104.050      104.000      104.050      104.000
  SWEDEN         KRONA          7.6590       7.6375       7.6340       7.6275       7.4860
  SWITZERLAND    FRANC          1.2784       1.2789       1.2748       1.2764       1.2515
  TAIWAN         DOLLAR        33.980       34.110       34.080       34.050       34.160
  THAILAND       BAHT          41.420       41.380       41.580       41.450       41.380
 *UNITED KINGDOM POUND          1.8273       1.8243       1.8248       1.8231       1.8459
  VENEZUELA      BOLIVAR     1920.00      1920.00      1920.00      1920.00      1920.00

  MEMO:
  UNITED STATES   DOLLAR
1)BROAD          JAN97=100    116.02       115.75       115.86       115.92       115.03
2)MAJOR CURRENCY MAR73=100     87.65        87.28        87.30        87.42        86.29
3)OITP           JAN97=100    145.69       145.67       145.95       145.87       145.69


 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
 in early December 2003, and is reflected in the December 22, 2003 release of this weekly report.
 The source for exchange rates not listed in the table above but used in the calculation of the
 broad and OITP indexes is Reuters Limited.

 *  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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