H.10(512)                                                                    June 1, 2001



 FOREIGN EXCHANGE RATES

 FOR THE WEEK ENDING JUNE 1, 2001

 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 U.S. dollar except as noted)


                 MONETARY
   COUNTRY         UNIT       May. 28      May. 29      May. 30      May. 31      Jun. 1

 *AUSTRALIA      DOLLAR                      0.5166       0.5130       0.5068       0.5084
  BRAZIL         REAL            H           2.3350       2.3575       2.3590       2.3850
  CANADA         DOLLAR                      1.5376       1.5464       1.5461       1.5324
  CHINA, P.R.    YUAN                        8.2768       8.2777       8.2770       8.2777
  DENMARK        KRONE           O           8.7240       8.6940       8.8180       8.8200
 *EMU MEMBERS    EURO                        0.8547       0.8576       0.8455       0.8452
  HONG KONG      DOLLAR                      7.7999       7.8000       7.7998       7.8000
  INDIA          RUPEE           L          47.02        47.00        47.00        47.05
  JAPAN          YEN                       120.10       120.27       118.88       119.13
  MALAYSIA       RINGGIT                     3.8000       3.8000       3.8000       3.8000
  MEXICO         PESO            I           9.081        9.165        9.165        9.180
 *NEW ZEALAND    DOLLAR                      0.4225       0.4170       0.4083       0.4102
  NORWAY         KRONE                       9.2520       9.2290       9.3790       9.4538
  SINGAPORE      DOLLAR          D           1.8085       1.8110       1.8095       1.8140
  SOUTH AFRICA   RAND                        7.9400       7.9800       8.0200       8.0350
  SOUTH KOREA    WON                      1290.00      1290.00      1282.00      1286.00
  SRI LANKA      RUPEE           A          91.350       91.350       92.000       91.350
  SWEDEN         KRONA                      10.5730      10.5920      10.7900      10.8510
  SWITZERLAND    FRANC                       1.7840       1.7775       1.7970       1.7992
  TAIWAN         DOLLAR          Y          34.050       34.020       33.950       34.100
  THAILAND       BAHT                       45.430       45.430       45.410       45.400
 *UNITED KINGDOM POUND                       1.4187       1.4251       1.4175       1.4160
  VENEZUELA      BOLIVAR                   716.51       715.25       716.00       714.75

  MEMO:
  UNITED STATES   DOLLAR
1)BROAD          JAN97=100                 127.13       127.35       127.48       127.47
2)MAJOR CURRENCY MAR73=100                 105.53       105.61       105.91       105.70
3)OITP           JAN97=100                 135.96       136.36       136.18       136.51


 This release is available online at http://www.federalreserve.gov/releases/H10.

 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/). 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 dollar indexes took effect
 with the February 5, 2001, release of this report.

 *  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.

 The euro is reported in place of the individual euro-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

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 please call publication services at Federal Reserve Board at (202) 452-3244.