H.10(512)                                                                   July 20, 2001



 FOREIGN EXCHANGE RATES

 FOR THE WEEK ENDING JULY 20, 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       Jul. 16      Jul. 17      Jul. 18      Jul. 19      Jul. 20

 *AUSTRALIA      DOLLAR         0.5080       0.5065       0.5142       0.5126       0.5055
  BRAZIL         REAL           2.6010       2.5090       2.4710       2.5000       2.4580
  CANADA         DOLLAR         1.5400       1.5400       1.5350       1.5418       1.5450
  CHINA, P.R.    YUAN           8.2767       8.2769       8.2770       8.2768       8.2768
  DENMARK        KRONE          8.7045       8.7080       8.5560       8.5799       8.5440
 *EMU MEMBERS    EURO           0.8549       0.8549       0.8701       0.8690       0.8713
  HONG KONG      DOLLAR         7.8000       7.8000       7.8000       7.7999       7.7998
  INDIA          RUPEE         47.20        47.16        47.12        47.16        47.17
  JAPAN          YEN          125.44       124.89       124.35       123.61       122.85
  MALAYSIA       RINGGIT        3.8000       3.8000       3.8000       3.8000       3.8000
  MEXICO         PESO           9.304        9.165        9.145        9.190        9.177
 *NEW ZEALAND    DOLLAR         0.4070       0.4055       0.4105       0.4130       0.4090
  NORWAY         KRONE          9.3320       9.3485       9.1850       9.2144       9.1820
  SINGAPORE      DOLLAR         1.8365       1.8338       1.8300       1.8260       1.8240
  SOUTH AFRICA   RAND           8.2615       8.2450       8.2500       8.2825       8.2560
  SOUTH KOREA    WON         1315.00      1316.00      1312.00      1305.00      1305.00
  SRI LANKA      RUPEE         90.300       90.350       90.300       90.300       90.300
  SWEDEN         KRONA         10.7640      10.7760      10.6050      10.6580      10.6480
  SWITZERLAND    FRANC          1.7690       1.7708       1.7310       1.7327       1.7255
  TAIWAN         DOLLAR        35.000       35.050       35.000       35.020       35.000
  THAILAND       BAHT          45.760       45.710       45.780       45.730       45.820
 *UNITED KINGDOM POUND          1.4011       1.4037       1.4160       1.4190       1.4290
  VENEZUELA      BOLIVAR      722.75       722.76       723.65       723.51       724.01

  MEMO:
  UNITED STATES   DOLLAR
1)BROAD          JAN97=100    129.06       128.72       127.95       128.00       127.78
2)MAJOR CURRENCY MAR73=100    106.81       106.70       105.70       105.74       105.52
3)OITP           JAN97=100    138.54       137.91       137.67       137.75       137.56


 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.