G.5(405) February 1, 2008 FOREIGN EXCHANGE RATES THE TABLE BELOW SHOWS THE AVERAGE RATES OF EXCHANGE IN JANUARY 2008 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 2008 2007 2007 2007 COUNTRY UNIT January December November January *AUSTRALIA DOLLAR 0.8823 0.8719 0.8961 0.7826 BRAZIL REAL 1.7710 1.7852 1.7669 2.1376 CANADA DOLLAR 1.0099 1.0021 0.9672 1.1763 CHINA, P.R. YUAN 7.2405 7.3682 7.4210 7.7876 DENMARK KRONE 5.0575 5.1235 5.0766 5.7364 *EMU MEMBERS EURO 1.4728 1.4559 1.4683 1.2993 HONG KONG DOLLAR 7.8044 7.7983 7.7774 7.8000 INDIA RUPEE 39.27 39.38 39.33 44.21 JAPAN YEN 107.82 112.45 111.07 120.45 MALAYSIA RINGGIT 3.2653 3.3324 3.3588 3.5065 MEXICO PESO 10.906 10.846 10.881 10.956 *NEW ZEALAND DOLLAR 0.7740 0.7690 0.7631 0.6947 NORWAY KRONE 5.3993 5.5000 5.4156 6.3656 SINGAPORE DOLLAR 1.4299 1.4487 1.4466 1.5373 SOUTH AFRICA RAND 6.9962 6.8376 6.7049 7.1898 SOUTH KOREA WON 942.06 931.10 918.81 936.76 SRI LANKA RUPEE 108.156 108.891 110.418 108.522 SWEDEN KRONA 6.3978 6.4764 6.3242 6.9901 SWITZERLAND FRANC 1.1006 1.1402 1.1233 1.2431 TAIWAN DOLLAR 32.359 32.412 32.328 32.770 THAILAND BAHT 30.305 30.158 31.348 35.189 *UNITED KINGDOM POUND 1.9702 2.0161 2.0701 1.9587 VENEZUELA BOLIVAR 2.14 2.14 2.14 2.14 MEMO: UNITED STATES DOLLAR 1)BROAD JAN97=100 98.48 99.27 98.37 107.59 2)MAJOR CURRENCY MAR73=100 73.06 73.69 72.20 82.37 3)OITP JAN97=100 126.08 126.99 127.40 133.18 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 "Indexes of the Foreign Exchange Value of the Dollar," Federal Reserve Bulletin, 91:1 (Winter 2005), pp. 1-8, (http://www.federalreserve.gov/pubs/bulletin/2005/winter05_index.pdf). 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 January 2007 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 Bloomberg. * 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 = 239.640 SLOVENIAN TOLAR