1FEDERAL RESERVE STATISTICAL RELEASE July 31, 1998 G.5(405) FOREIGN EXCHANGE RATES FOR THE MONTH ENDING JULY 1998 THE TABLE BELOW SHOWS THE AVERAGE RATES OF EXCHANGE IN JULY 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 1998 1998 1997 COUNTRY UNIT July June May July *AUSTRALIA DOLLAR 0.6180 0.6046 0.6312 0.7420 AUSTRIA SCHILLING 12.650 12.615 12.491 12.620 BELGIUM FRANC 37.074 36.981 36.624 37.040 CANADA DOLLAR 1.4869 1.4655 1.4452 1.3775 CHINA,P.R. YUAN 8.3100 8.3100 8.3084 8.3162 DENMARK KRONE 6.8499 6.8294 6.7662 6.8317 *EURO COMMUNITY ECU 1.0990 1.1016 1.1096 1.0998 FINLAND MARKKA 5.4653 5.4503 5.3966 5.3164 FRANCE FRANC 6.0280 6.0118 5.9528 6.0511 GERMANY D. MARK 1.7976 1.7928 1.7753 1.7939 GREECE DRACHMA 299.35 304.24 307.22 281.43 HONG KONG DOLLAR 7.7483 7.7471 7.7490 7.7454 INDIA RUPEE 42.612 42.367 40.469 35.747 *IRELAND POUND 1.3988 1.4051 1.4174 1.4945 ITALY LIRA 1772.42 1766.32 1750.79 1745.91 JAPAN YEN 140.79 140.33 134.90 115.38 MALAYSIA RINGGIT 4.1591 4.0006 3.8204 2.5815 MEXICO PESO 8.8990 8.9200 8.5848 7.8679 NETHERLANDS GUILDER 2.0267 2.0208 2.0005 2.0201 *NEW ZEALAND DOLLAR 0.5185 0.5123 0.5388 0.6610 NORWAY KRONE 7.6246 7.5785 7.4539 7.4545 PORTUGAL ESCUDO 183.93 183.58 181.87 181.20 SINGAPORE DOLLAR 1.7085 1.6941 1.6374 1.4521 SOUTH AFRICA RAND 6.2285 5.3910 5.0927 4.5611 SOUTH KOREA WON 1295.76 1397.77 1399.05 893.09 SPAIN PESETA 152.58 152.18 150.81 151.33 SRI LANKA RUPEE 65.908 65.150 64.261 58.732 SWEDEN KRONA 7.9942 7.9174 7.7026 7.8188 SWITZERLAND FRANC 1.5136 1.4949 1.4790 1.4824 TAIWAN DOLLAR 34.387 34.553 33.466 28.032 THAILAND BAHT 41.300 42.332 39.198 30.274 *UNITED KINGDOM POUND 1.6437 1.6504 1.6382 1.6694 MEMO: **UNITED STATES DOLLAR 101.38 100.90 99.61 97.48 *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.