H.10(512) July 26, 1999 FOREIGN EXCHANGE RATES FOR THE WEEK ENDING JULY 23, 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 Jul. 19 Jul. 20 Jul. 21 Jul. 22 Jul. 23 *AUSTRALIA DOLLAR 0.6515 0.6483 0.6475 0.6466 0.6480 BRAZIL REAL 1.7950 1.8000 1.8120 1.8275 1.8190 CANADA DOLLAR 1.4918 1.4915 1.5011 1.5025 1.5076 CHINA, P.R. YUAN 8.2773 8.2777 8.2773 8.2773 8.2772 DENMARK KRONE 7.3000 7.1435 7.0700 7.0835 7.1150 *EMU MEMBERS EURO 1.0203 1.0420 1.0526 1.0509 1.0497 GREECE DRACHMA 318.40 311.75 308.85 309.55 309.50 HONG KONG DOLLAR 7.7589 7.7595 7.7608 7.7613 7.7618 INDIA RUPEE 43.25 43.26 43.35 43.35 43.28 JAPAN YEN 119.18 118.94 118.25 117.27 116.51 MALAYSIA RINGGIT 3.8000 3.8000 3.8000 3.8000 3.8000 MEXICO PESO 9.303 9.299 9.345 9.383 9.388 *NEW ZEALAND DOLLAR 0.5203 0.5215 0.5276 0.5268 0.5305 NORWAY KRONE 7.9450 7.8560 7.8570 7.8670 7.8550 SINGAPORE DOLLAR 1.7032 1.7005 1.6971 1.7000 1.6990 SOUTH AFRICA RAND 6.1700 6.1260 6.1075 6.1162 6.1150 SOUTH KOREA WON 1188.00 1194.00 1201.00 1209.00 1208.80 SRI LANKA RUPEE 71.800 71.800 71.950 71.950 72.000 SWEDEN KRONA 8.5250 8.3950 8.3390 8.3595 8.3650 SWITZERLAND FRANC 1.5738 1.5405 1.5267 1.5285 1.5294 TAIWAN DOLLAR 32.360 32.260 32.410 32.500 32.400 THAILAND BAHT 37.170 37.160 37.180 37.400 37.410 *UNITED KINGDOM POUND 1.5630 1.5700 1.5766 1.5835 1.5780 VENEZUELA BOLIVAR 612.00 611.25 613.00 613.25 614.00 MEMO: UNITED STATES DOLLAR 1)BROAD JAN97=100 117.80 117.31 117.21 117.24 117.26 2)MAJOR CURRENCY MAR73=100 97.40 96.65 96.34 96.19 96.18 3)OITP JAN97=100 127.97 128.05 128.34 128.70 128.74 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