1FEDERAL RESERVE STATISTICAL RELEASE February 2, 1998 G.5(405) FOREIGN EXCHANGE RATES FOR THE MONTH ENDING JANUARY 1998 THE TABLE BELOW SHOWS THE AVERAGE RATES OF EXCHANGE IN JANUARY 1998 TOGETHER WITH COMPARABLE FIGURES FOR OTHER MONTHS. AVERAGES ARE BASED ON DAILY NOON BUYING RATES FOR CABLE TRANSFERS IN NEW YORK CITY CERTIFIED FOR CUSTOMS PURPOSES BY THE FEDERAL RESERVE BANK OF NEW YORK. (RATES IN CURRENCY UNITS PER DOLLAR) MONETARY 1998 1997 1997 1997 COUNTRY UNIT January December November January *AUSTRALIA DOLLAR 0.6566 0.6619 0.6953 0.7776 AUSTRIA SCHILLING 12.765 12.510 12.181 11.289 BELGIUM FRANC 37.536 36.748 35.737 33.087 CANADA DOLLAR 1.4409 1.4271 1.4128 1.3494 CHINA,P.R. YUAN 8.3094 8.3099 8.3109 8.3260 DENMARK KRONE 6.9190 6.7752 6.5937 6.1199 *EURO COMMUNITY ECU 1.0869 1.1119 1.1419 1.2096 FINLAND MARKKA 5.5006 5.3789 5.2217 4.7766 FRANCE FRANC 6.0832 5.9542 5.8001 5.4145 GERMANY D. MARK 1.8165 1.7788 1.7323 1.6047 GREECE DRACHMA 287.24 279.93 271.87 251.54 HONG KONG DOLLAR 7.7425 7.7456 7.7314 7.7397 INDIA RUPEE 39.391 39.400 37.289 35.904 *IRELAND POUND 1.3819 1.4533 1.5030 1.6311 ITALY LIRA 1787.87 1743.86 1697.08 1567.91 JAPAN YEN 129.55 129.73 125.38 117.91 MALAYSIA RINGGIT 4.4093 3.7907 3.3791 2.4900 MEXICO PESO 8.2272 8.1271 8.2716 7.8289 NETHERLANDS GUILDER 2.0472 2.0051 1.9524 1.8023 *NEW ZEALAND DOLLAR 0.5793 0.5914 0.6242 0.7009 NORWAY KRONE 7.5007 7.2630 7.0588 6.4589 PORTUGAL ESCUDO 185.80 181.91 176.84 160.53 SINGAPORE DOLLAR 1.7477 1.6518 1.5820 1.4061 SOUTH AFRICA RAND 4.9417 4.8706 4.8394 4.6402 SOUTH KOREA WON 1707.30 1494.04 1035.22 854.07 SPAIN PESETA 153.93 150.46 146.30 134.79 SRI LANKA RUPEE 62.281 61.591 60.132 57.278 SWEDEN KRONA 8.0193 7.7977 7.5589 7.0692 SWITZERLAND FRANC 1.4748 1.4393 1.4069 1.3913 TAIWAN DOLLAR 34.117 32.502 31.794 27.477 THAILAND BAHT 52.983 44.309 39.092 25.726 *UNITED KINGDOM POUND 1.6350 1.6597 1.6889 1.6585 MEMO: **UNITED STATES DOLLAR 100.52 98.82 96.37 91.01 *VALUE IS U.S. DOLLARS **INDEX OF WEIGHTED AVERAGE EXCHANGE VALUE OF U.S. DOLLAR AGAINST CURRENCIES OF OTHER G-10 COUNTRIES. MARCH 1973 = 100. WEIGHTS ARE 1972-76 GLOBAL TRADE OF EACH OF THE 10 COUNTRIES. SERIES REVISED AS OF AUGUST 1978. FOR DESCRIPTION AND BACK DATA, SEE "INDEX OF THE WEIGHTED-AVERAGE EXCHANGE VALUE OF THE U.S. DOLLAR: REVISION" ON PAGE 700 OF THE AUGUST 1978 FEDERAL RESERVE BULLETIN. FOR INFORMATION ABOUT YOUR SUBSCRIPTION TO THIS RELEASE OR ABOUT RECEIVING IT IN DOCUMENT FORM, PLEASE CALL PUBLICATIONS SERVICES AT THE FEDERAL RESERVE BOARD AT (202) 452-3244.