G.5(405) October 31, 2003 FOREIGN EXCHANGE RATES THE TABLE BELOW SHOWS THE AVERAGE RATES OF EXCHANGE IN OCTOBER 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 October September August October *AUSTRALIA DOLLAR 0.6948 0.6635 0.6518 0.5502 BRAZIL REAL 2.8628 2.9204 3.0053 3.7966 CANADA DOLLAR 1.3221 1.3634 1.3963 1.5780 CHINA, P.R. YUAN 8.2768 8.2772 8.2770 8.2772 DENMARK KRONE 6.3449 6.5953 6.6653 7.5732 *EMU MEMBERS EURO 1.1714 1.1267 1.1155 0.9812 HONG KONG DOLLAR 7.7427 7.7850 7.7990 7.7995 INDIA RUPEE 45.40 45.85 45.96 48.39 JAPAN YEN 109.50 114.80 118.66 123.91 MALAYSIA RINGGIT 3.8000 3.8000 3.8000 3.8000 MEXICO PESO 11.180 10.923 10.783 10.094 *NEW ZEALAND DOLLAR 0.6020 0.5843 0.5829 0.4818 NORWAY KRONE 7.0331 7.2782 7.4096 7.4873 SINGAPORE DOLLAR 1.7345 1.7466 1.7533 1.7843 SOUTH AFRICA RAND 6.9644 7.3060 7.3945 10.3058 SOUTH KOREA WON 1169.34 1165.40 1178.60 1240.19 SRI LANKA RUPEE 94.560 95.284 96.975 96.402 SWEDEN KRONA 7.6957 8.0426 8.2821 9.2846 SWITZERLAND FRANC 1.3222 1.3743 1.3811 1.4932 TAIWAN DOLLAR 33.875 33.995 34.318 34.947 THAILAND BAHT 39.760 40.483 41.656 43.640 *UNITED KINGDOM POUND 1.6792 1.6155 1.5939 1.5575 VENEZUELA BOLIVAR 1600.00 1600.00 1600.00 1440.50 MEMO: UNITED STATES DOLLAR 1)BROAD JAN97=100 116.66 119.03 120.43 127.63 2)MAJOR CURRENCY MAR73=100 86.29 89.68 91.48 100.93 3)OITP JAN97=100 144.35 144.06 144.32 145.69 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