H.10(512) July 2, 1999 FOREIGN EXCHANGE RATES FOR THE WEEK ENDING JULY 2, 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 Jun. 28 Jun. 29 Jun. 30 Jul. 1 Jul. 2 *AUSTRALIA DOLLAR 0.6580 0.6580 0.6611 0.6665 0.6703 BRAZIL REAL 1.7890 1.7700 1.7700 1.7630 1.7700 CANADA DOLLAR 1.4695 1.4760 1.4735 1.4693 1.4645 CHINA, P.R. YUAN 8.2780 8.2786 8.2787 8.2786 8.2785 DENMARK KRONE 7.1695 7.1930 7.2110 7.2680 7.2580 *EMU MEMBERS EURO 1.0373 1.0337 1.0310 1.0236 1.0244 GREECE DRACHMA 313.05 313.90 315.10 317.75 317.15 HONG KONG DOLLAR 7.7580 7.7580 7.7586 7.7585 7.7590 INDIA RUPEE 43.45 43.50 43.45 43.35 43.45 JAPAN YEN 121.30 120.81 120.94 120.99 121.13 MALAYSIA RINGGIT 3.8000 3.8000 3.8000 3.8000 3.8000 MEXICO PESO 9.483 9.418 9.443 9.378 9.360 *NEW ZEALAND DOLLAR 0.5330 0.5309 0.5295 0.5325 0.5335 NORWAY KRONE 7.8505 7.8540 7.8750 7.9140 7.8895 SINGAPORE DOLLAR 1.7050 1.7030 1.7022 1.6985 1.6980 SOUTH AFRICA RAND 6.0575 6.0350 6.0380 6.0350 6.0250 SOUTH KOREA WON 1157.00 1157.50 1157.50 1165.00 1164.10 SRI LANKA RUPEE 71.900 71.590 71.590 71.530 71.900 SWEDEN KRONA 8.4535 8.4650 8.4810 8.5430 8.4950 SWITZERLAND FRANC 1.5416 1.5495 1.5555 1.5690 1.5678 TAIWAN DOLLAR 32.360 32.310 32.310 32.320 32.280 THAILAND BAHT 36.920 36.880 36.890 36.870 36.950 *UNITED KINGDOM POUND 1.5822 1.5781 1.5765 1.5765 1.5792 VENEZUELA BOLIVAR 605.70 606.40 607.25 607.10 607.75 MEMO: UNITED STATES DOLLAR 1)BROAD JAN97=100 117.37 117.39 117.52 117.53 117.44 2)MAJOR CURRENCY MAR73=100 96.74 96.90 96.97 97.11 96.98 3)OITP JAN97=100 128.05 127.81 128.03 127.80 127.80 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