H.10(512) January 25, 1999 FOREIGN EXCHANGE RATES FOR THE WEEK ENDING JANUARY 22, 1999 The Board of Governors of the Federal Reserve System is advised that the Federal Reserve Bank of New York has certified for customs purposes the following noon buying rates in New York City for cable transfers payable in foreign currencies: (RATES IN CURRENCY UNITS PER DOLLAR) MONETARY COUNTRY UNIT Jan. 18 Jan. 19 Jan. 20 Jan. 21 Jan. 22 *AUSTRALIA DOLLAR 0.6385 0.6398 0.6396 0.6348 BRAZIL REAL H 1.6000 1.5800 1.7100 1.7000 CANADA DOLLAR 1.5302 1.5226 1.5155 1.5190 CHINA, P.R. YUAN 8.2787 8.2791 8.2789 8.2787 DENMARK KRONE O 6.4150 6.4320 6.4165 6.4160 *EMU MEMBERS EURO 1.1610 1.1575 1.1577 1.1582 GREECE DRACHMA 278.20 278.71 278.50 277.90 HONG KONG DOLLAR L 7.7490 7.7490 7.7483 7.7502 INDIA RUPEE 42.55 42.55 42.54 42.55 JAPAN YEN 113.76 113.45 113.75 114.65 MALAYSIA RINGGIT I 3.8000 3.8000 3.8000 3.8000 MEXICO PESO 10.270 10.195 10.290 10.203 *NEW ZEALAND DOLLAR 0.5363 0.5400 0.5417 0.5365 NORWAY KRONE D 7.4429 7.4235 7.4435 7.4650 SINGAPORE DOLLAR 1.6832 1.6790 1.6700 1.6798 SOUTH AFRICA RAND 6.0550 6.0250 6.0700 6.0450 SOUTH KOREA WON A 1176.50 1168.00 1174.00 1181.00 SRI LANKA RUPEE 68.600 68.580 68.750 68.690 SWEDEN KRONA 7.7570 7.7220 7.7355 7.7300 SWITZERLAND FRANC Y 1.3752 1.3902 1.3855 1.3829 TAIWAN DOLLAR 32.400 32.300 32.310 32.350 THAILAND BAHT 36.450 36.500 36.470 36.900 *UNITED KINGDOM POUND 1.6550 1.6467 1.6516 1.6560 VENEZUELA BOLIVAR 570.75 570.34 571.25 572.50 MEMO: UNITED STATES DOLLAR 1)BROAD JAN97=100 115.11 114.91 115.14 115.36 2)MAJOR CURRENCY MAR73=100 92.60 92.53 92.43 92.66 3)OITP JAN97=100 129.68 129.29 130.07 130.21 This release is available online at http://www.federalreserve.gov/release/. 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/) and "Index of the Weighted-Average Exchange Value of the U.S. Dollar: Revision," Federal Reserve Bulletin, vol. 64 (August 1978), p. 700. Weights for broad index can be found at http://www.federalreserve.gov/; weights for the major currencies index and the other important trading partners (OITP) index are derived from the broad index weights. * Value is U.S. dollars. 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. As of the January 11, 1999 release, the euro is reported in place of the individual euro-area currencies. These currency rates can be derived from the euro rate by using the fixed conversion rates (in currencies per euro) given below: 1 EUR = 40.3399 BELGIAN FRANCS = 1.95583 GERMAN MARKS = 166.386 SPANISH PESETAS = 6.55957 FRENCH FRANCS = .787564 IRISH POUNDS = 1936.27 ITALIAN LIRE = 40.3399 LUXEMBOURG FRANCS = 2.20371 DUTCH GUILDERS = 13.7603 AUSTRIAN SCHILLINGS = 200.482 PORTUGUESE ESCUDOS = 5.94573 FINNISH MARKKAS