H.10(512) March 5, 1999 FOREIGN EXCHANGE RATES FOR THE WEEK ENDING MARCH 5, 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 Mar. 1 Mar. 2 Mar. 3 Mar. 4 Mar. 5 *AUSTRALIA DOLLAR 0.6179 0.6205 0.6230 0.6242 0.6285 BRAZIL REAL 2.0500 2.1700 2.2000 2.1100 2.0000 CANADA DOLLAR 1.5240 1.5200 1.5268 1.5255 1.5167 CHINA, P.R. YUAN 8.2792 8.2789 8.2789 8.2783 8.2784 DENMARK KRONE 6.8200 6.8050 6.8296 6.8668 6.8510 *EMU MEMBERS EURO 1.0891 1.0931 1.0888 1.0824 1.0843 GREECE DRACHMA 295.10 294.70 295.51 297.40 296.80 HONG KONG DOLLAR 7.7474 7.7480 7.7490 7.7495 7.7490 INDIA RUPEE 42.54 42.58 42.58 42.55 42.55 JAPAN YEN 119.79 120.47 121.68 123.50 122.57 MALAYSIA RINGGIT 3.8000 3.8000 3.8000 3.8000 3.8000 MEXICO PESO 9.915 9.951 9.965 9.935 9.876 *NEW ZEALAND DOLLAR 0.5237 0.5281 0.5287 0.5278 0.5315 NORWAY KRONE 7.9500 7.9250 7.9410 7.9438 7.9050 SINGAPORE DOLLAR 1.7262 1.7345 1.7370 1.7365 1.7275 SOUTH AFRICA RAND 6.2325 6.2475 6.2500 6.2490 6.2130 SOUTH KOREA WON 1222.00 1225.50 1230.40 1241.00 1243.00 SRI LANKA RUPEE 69.560 69.610 69.620 69.650 69.900 SWEDEN KRONA 8.2550 8.2370 8.2620 8.2779 8.2385 SWITZERLAND FRANC 1.4620 1.4582 1.4610 1.4700 1.4686 TAIWAN DOLLAR 33.050 33.100 33.150 33.200 33.400 THAILAND BAHT 37.390 37.570 37.650 37.880 37.470 *UNITED KINGDOM POUND 1.6058 1.6135 1.6134 1.6065 1.6073 VENEZUELA BOLIVAR 575.75 576.70 576.25 576.51 577.00 MEMO: UNITED STATES DOLLAR 1)BROAD JAN97=100 118.27 118.43 118.85 119.19 118.68 2)MAJOR CURRENCY MAR73=100 95.99 95.89 96.38 96.93 96.50 3)OITP JAN97=100 131.69 132.28 132.49 132.36 131.84 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