H.10(512)                                                                    July 5, 2002



 FOREIGN EXCHANGE RATES

 FOR THE WEEK ENDING JULY 5, 2002

 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. 1       Jul. 2       Jul. 3       Jul. 4       Jul. 5

 *AUSTRALIA      DOLLAR         0.5615       0.5623       0.5603                    0.5568
  BRAZIL         REAL           2.8575       2.9080       2.8680        H           2.8800
  CANADA         DOLLAR         1.5190       1.5263       1.5290                    1.5247
  CHINA, P.R.    YUAN           8.2770       8.2769       8.2768                    8.2766
  DENMARK        KRONE          7.5080       7.5495       7.5680        O           7.6350
 *EMU MEMBERS    EURO           0.9893       0.9840       0.9816                    0.9730
  HONG KONG      DOLLAR         7.8005       7.8000       7.8000                    7.8000
  INDIA          RUPEE         48.86        48.87        48.83          L          48.86
  JAPAN          YEN          120.04       120.13       119.77                    120.19
  MALAYSIA       RINGGIT        3.8000       3.8000       3.8000                    3.8000
  MEXICO         PESO           9.925        9.968        9.970         I           9.893
 *NEW ZEALAND    DOLLAR         0.4860       0.4878       0.4895                    0.4858
  NORWAY         KRONE          7.4940       7.4810       7.4640                    7.4950
  SINGAPORE      DOLLAR         1.7694       1.7717       1.7685        D           1.7700
  SOUTH AFRICA   RAND          10.0700      10.1138      10.1850                   10.0900
  SOUTH KOREA    WON         1201.30      1200.80      1202.80                   1199.90
  SRI LANKA      RUPEE         96.300       96.350       96.380         A          96.330
  SWEDEN         KRONA          9.1990       9.2140       9.2860                    9.3750
  SWITZERLAND    FRANC          1.4845       1.4900       1.4907                    1.5062
  TAIWAN         DOLLAR        33.470       33.490       33.500         Y          33.480
  THAILAND       BAHT          41.630       41.540       41.640                    41.660
 *UNITED KINGDOM POUND          1.5307       1.5300       1.5268                    1.5206
  VENEZUELA      BOLIVAR     1401.00      1317.00      1301.00                   1286.00

  MEMO:
  UNITED STATES   DOLLAR
1)BROAD          JAN97=100    124.58       124.90       124.94                    125.08
2)MAJOR CURRENCY MAR73=100     99.09        99.43        99.52                     99.87
3)OITP           JAN97=100    141.21       141.41       141.37                    141.10


 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 January 7, 2002, 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.