G.5(405) December 31, 2002 FOREIGN EXCHANGE RATES THE TABLE BELOW SHOWS THE AVERAGE RATES OF EXCHANGE IN DECEMBER 2002 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. (Currency units per U.S. dollar except as noted) MONETARY 2002 2002 2002 2001 COUNTRY UNIT December November October December *AUSTRALIA DOLLAR 0.5625 0.5613 0.5502 0.5138 BRAZIL REAL 3.6266 3.5924 3.7966 2.3635 CANADA DOLLAR 1.5591 1.5715 1.5780 1.5788 CHINA, P.R. YUAN 8.2777 8.2772 8.2772 8.2761 DENMARK KRONE 7.2877 7.4201 7.5732 8.3526 *EMU MEMBERS EURO 1.0193 1.0013 0.9812 0.8912 HONG KONG DOLLAR 7.7988 7.7994 7.7995 7.7989 INDIA RUPEE 48.14 48.29 48.39 47.93 JAPAN YEN 121.88 121.61 123.91 127.59 MALAYSIA RINGGIT 3.8000 3.8000 3.8000 3.8000 MEXICO PESO 10.227 10.195 10.094 9.157 *NEW ZEALAND DOLLAR 0.5108 0.4973 0.4818 0.4157 NORWAY KRONE 7.1559 7.3157 7.4873 8.9713 SINGAPORE DOLLAR 1.7531 1.7653 1.7843 1.8382 SOUTH AFRICA RAND 8.9462 9.6509 10.3058 11.6761 SOUTH KOREA WON 1206.59 1210.20 1240.19 1292.29 SRI LANKA RUPEE 96.704 96.426 96.402 93.194 SWEDEN KRONA 8.9328 9.0652 9.2846 10.5753 SWITZERLAND FRANC 1.4390 1.4658 1.4932 1.6566 TAIWAN DOLLAR 34.794 34.673 34.947 34.682 THAILAND BAHT 43.313 43.353 43.640 43.952 *UNITED KINGDOM POUND 1.5864 1.5711 1.5575 1.4413 VENEZUELA BOLIVAR 1328.26 1358.61 1440.50 753.64 MEMO: UNITED STATES DOLLAR 1)BROAD JAN97=100 125.78 126.38 127.69 127.52 2)MAJOR CURRENCY MAR73=100 98.96 99.83 101.24 106.30 3)OITP JAN97=100 144.45 144.43 145.28 136.62 This release is available online at http://www.federalreserve.gov/releases/G5. 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 (OITIP) index are derived from the broad index weights. The most recent annual revision to the trade weights and the dollar indexes took effect with the February 1, 2002, 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. 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. The euro is reported in place of the individual eure-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