G.5(405) October 1, 2004 FOREIGN EXCHANGE RATES THE TABLE BELOW SHOWS THE AVERAGE RATES OF EXCHANGE IN SEPTEMBER 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 September August July September *AUSTRALIA DOLLAR 0.7028 0.7111 0.7161 0.6635 BRAZIL REAL 2.8914 3.0018 3.0384 2.9204 CANADA DOLLAR 1.2881 1.3127 1.3225 1.3634 CHINA, P.R. YUAN 8.2767 8.2768 8.2767 8.2772 DENMARK KRONE 6.0866 6.1007 6.0631 6.5953 *EMU MEMBERS EURO 1.2224 1.2191 1.2266 1.1267 HONG KONG DOLLAR 7.7995 7.7997 7.8000 7.7850 INDIA RUPEE 46.05 46.32 46.06 45.85 JAPAN YEN 110.09 110.23 109.49 114.80 MALAYSIA RINGGIT 3.8000 3.8000 3.8000 3.8000 MEXICO PESO 11.487 11.395 11.468 10.923 *NEW ZEALAND DOLLAR 0.6594 0.6561 0.6467 0.5843 NORWAY KRONE 6.8416 6.8369 6.9126 7.2782 SINGAPORE DOLLAR 1.6948 1.7145 1.7121 1.7466 SOUTH AFRICA RAND 6.5349 6.4667 6.1350 7.3060 SOUTH KOREA WON 1148.72 1158.03 1158.70 1165.40 SRI LANKA RUPEE 103.326 103.436 102.998 95.284 SWEDEN KRONA 7.4356 7.5362 7.5027 8.0426 SWITZERLAND FRANC 1.2629 1.2623 1.2452 1.3743 TAIWAN DOLLAR 33.893 34.023 33.806 33.995 THAILAND BAHT 41.474 41.521 40.982 40.483 *UNITED KINGDOM POUND 1.7936 1.8203 1.8438 1.6155 VENEZUELA BOLIVAR 1919.81 1920.00 1920.00 1600.00 MEMO: UNITED STATES DOLLAR 1)BROAD JAN97=100 114.81 115.26 115.08 118.57 2)MAJOR CURRENCY MAR73=100 86.25 86.72 86.46 92.31 3)OITP JAN97=100 145.17 145.47 145.50 143.46 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