G.5(405) June 30, 2003 FOREIGN EXCHANGE RATES THE TABLE BELOW SHOWS THE AVERAGE RATES OF EXCHANGE IN JUNE 2003 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 2003 2003 2003 2002 COUNTRY UNIT June May April June *AUSTRALIA DOLLAR 0.6652 0.6468 0.6100 0.5682 BRAZIL REAL 2.8887 2.9517 3.1090 2.7144 CANADA DOLLAR 1.3525 1.3840 1.4582 1.5318 CHINA, P.R. YUAN 8.2771 8.2769 8.2772 8.2767 DENMARK KRONE 6.3620 6.4268 6.8381 7.7775 *EMU MEMBERS EURO 1.1674 1.1556 1.0862 0.9561 HONG KONG DOLLAR 7.7988 7.7991 7.7996 7.8000 INDIA RUPEE 46.70 47.11 47.39 48.98 JAPAN YEN 118.33 117.37 119.90 123.29 MALAYSIA RINGGIT 3.8000 3.8000 3.8000 3.8000 MEXICO PESO 10.503 10.253 10.589 9.767 *NEW ZEALAND DOLLAR 0.5815 0.5756 0.5518 0.4886 NORWAY KRONE 7.0093 6.8145 7.2032 7.7533 SINGAPORE DOLLAR 1.7351 1.7357 1.7771 1.7831 SOUTH AFRICA RAND 7.8588 7.6604 7.6634 10.1841 SOUTH KOREA WON 1194.14 1201.23 1231.10 1219.70 SRI LANKA RUPEE 97.236 97.230 97.004 96.408 SWEDEN KRONA 7.8116 7.9213 8.4314 9.5376 SWITZERLAND FRANC 1.3196 1.3111 1.3783 1.5399 TAIWAN DOLLAR 34.633 34.697 34.824 33.889 THAILAND BAHT 41.675 42.217 42.929 42.160 *UNITED KINGDOM POUND 1.6609 1.6224 1.5739 1.4837 VENEZUELA BOLIVAR 1600.00 1600.00 1600.00 1212.07 MEMO: UNITED STATES DOLLAR 1)BROAD JAN97=100 117.93 118.54 122.54 125.91 2)MAJOR CURRENCY MAR73=100 88.68 89.67 93.98 101.19 3)OITP JAN97=100 143.07 142.75 145.15 140.96 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 January 30, 2003, 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