G.5(405) April 30, 2004 FOREIGN EXCHANGE RATES THE TABLE BELOW SHOWS THE AVERAGE RATES OF EXCHANGE IN APRIL 2004 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 2004 2004 2004 2003 COUNTRY UNIT April March February April *AUSTRALIA DOLLAR 0.7443 0.7496 0.7770 0.6100 BRAZIL REAL 2.9079 2.9067 2.9342 3.1090 CANADA DOLLAR 1.3420 1.3286 1.3299 1.4582 CHINA, P.R. YUAN 8.2769 8.2771 8.2771 8.2772 DENMARK KRONE 6.2104 6.0757 5.8956 6.8381 *EMU MEMBERS EURO 1.1989 1.2261 1.2640 1.0862 HONG KONG DOLLAR 7.7970 7.7930 7.7748 7.7996 INDIA RUPEE 43.89 44.97 45.27 47.39 JAPAN YEN 107.66 108.52 106.71 119.90 MALAYSIA RINGGIT 3.8000 3.8000 3.8000 3.8000 MEXICO PESO 11.270 11.019 11.032 10.589 *NEW ZEALAND DOLLAR 0.6415 0.6607 0.6916 0.5518 NORWAY KRONE 6.9263 6.9598 6.9508 7.2032 SINGAPORE DOLLAR 1.6849 1.6996 1.6869 1.7771 SOUTH AFRICA RAND 6.5747 6.6140 6.7542 7.6634 SOUTH KOREA WON 1152.86 1166.29 1167.53 1231.10 SRI LANKA RUPEE 98.132 97.522 98.507 97.004 SWEDEN KRONA 7.6496 7.5322 7.2630 8.4314 SWITZERLAND FRANC 1.2969 1.2778 1.2448 1.3783 TAIWAN DOLLAR 32.970 33.252 33.214 34.824 THAILAND BAHT 39.453 39.470 39.116 42.929 *UNITED KINGDOM POUND 1.8031 1.8261 1.8673 1.5739 VENEZUELA BOLIVAR 1920.00 1920.00 1818.95 1600.00 MEMO: UNITED STATES DOLLAR 1)BROAD JAN97=100 115.12 114.26 113.10 122.01 2)MAJOR CURRENCY MAR73=100 87.44 86.48 84.97 96.71 3)OITP JAN97=100 143.58 143.15 142.97 144.42 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 (OITP) 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 December 31, 2003, release of this report. The source for exchange rates not listed in the table above but used in the calculation of the broad and OITP indexes is Reuters Limited. * 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