H.10(512)                                                                    May 27, 2005



 FOREIGN EXCHANGE RATES

 FOR THE WEEK ENDING MAY 27, 2005

 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. 23      May. 24      May. 25      May. 26      May. 27

 *AUSTRALIA      DOLLAR         0.7583       0.7623       0.7626       0.7604       0.7623
  BRAZIL         REAL           2.4300       2.4339       2.4075       2.4090       2.3960
  CANADA         DOLLAR         1.2578       1.2612       1.2641       1.2680       1.2585
  CHINA, P.R.    YUAN           8.2765       8.2735       8.2765       8.2765       8.2765
  DENMARK        KRONE          5.9210       5.9134       5.9085       5.9456       5.9203
 *EMU MEMBERS    EURO           1.2575       1.2588       1.2602       1.2517       1.2568
  HONG KONG      DOLLAR         7.7861       7.7803       7.7816       7.7811       7.7767
  INDIA          RUPEE         43.45        43.45        43.43        43.46        43.41
  JAPAN          YEN          107.72       107.46       107.73       107.95       107.88
  MALAYSIA       RINGGIT        3.8000       3.8000       3.8000       3.8000       3.8000
  MEXICO         PESO          10.958       10.982       10.939       10.969       10.885
 *NEW ZEALAND    DOLLAR         0.7093       0.7132       0.7138       0.7115       0.7142
  NORWAY         KRONE          6.4444       6.4245       6.3865       6.3789       6.3522
  SINGAPORE      DOLLAR         1.6595       1.6540       1.6568       1.6590       1.6591
  SOUTH AFRICA   RAND           6.5325       6.5575       6.5100       6.6050       6.5650
  SOUTH KOREA    WON         1004.00      1003.00      1000.00      1002.00      1000.00
  SRI LANKA      RUPEE         99.500       99.500       99.900       99.920       99.950
  SWEDEN         KRONA          7.2914       7.2841       7.2887       7.3480       7.3144
  SWITZERLAND    FRANC          1.2311       1.2293       1.2264       1.2359       1.2324
  TAIWAN         DOLLAR        31.380       31.300       31.370       31.410       31.290
  THAILAND       BAHT          40.060       40.010       40.100       40.380       40.380
 *UNITED KINGDOM POUND          1.8288       1.8288       1.8312       1.8205       1.8227
  VENEZUELA      BOLIVAR     2144.60      2144.60      2144.60      2144.60      2144.60

  MEMO:
  UNITED STATES   DOLLAR
1)BROAD          JAN97=100    110.93       110.91       110.89       111.24       110.87
2)MAJOR CURRENCY MAR73=100     84.00        83.99        84.04        84.43        84.08
3)OITP           JAN97=100    138.74       138.73       138.57       138.75       138.41


 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 February 2005, and is reflected in the February 7, 2005 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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