H.10(512)                                                                   July 19, 2002



 FOREIGN EXCHANGE RATES

 FOR THE WEEK ENDING JULY 19, 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. 15      Jul. 16      Jul. 17      Jul. 18      Jul. 19

 *AUSTRALIA      DOLLAR         0.5599       0.5583       0.5516       0.5520       0.5555
  BRAZIL         REAL           2.8600       2.8690       2.8980       2.8620       2.8710
  CANADA         DOLLAR         1.5365       1.5347       1.5399       1.5440       1.5386
  CHINA, P.R.    YUAN           8.2768       8.2769       8.2769       8.2768       8.2769
  DENMARK        KRONE          7.3770       7.3690       7.3700       7.3870       7.3190
 *EMU MEMBERS    EURO           1.0072       1.0087       1.0078       1.0067       1.0156
  HONG KONG      DOLLAR         7.8000       7.8000       7.8000       7.8000       7.8000
  INDIA          RUPEE         48.85        48.83        48.81        48.82        48.75
  JAPAN          YEN          116.06       115.71       116.24       117.02       115.73
  MALAYSIA       RINGGIT        3.8000       3.8000       3.8000       3.8000       3.8000
  MEXICO         PESO           9.757        9.727        9.655        9.649        9.716
 *NEW ZEALAND    DOLLAR         0.4850       0.4860       0.4824       0.4822       0.4870
  NORWAY         KRONE          7.3440       7.3260       7.3310       7.3560       7.3295
  SINGAPORE      DOLLAR         1.7390       1.7382       1.7397       1.7425       1.7310
  SOUTH AFRICA   RAND          10.0400      10.1275      10.1475       9.9600       9.9500
  SOUTH KOREA    WON         1171.60      1166.80      1166.80      1169.80      1165.60
  SRI LANKA      RUPEE         96.270       96.270       96.200       96.200       96.200
  SWEDEN         KRONA          9.1990       9.2440       9.2330       9.2450       9.2300
  SWITZERLAND    FRANC          1.4582       1.4548       1.4540       1.4540       1.4387
  TAIWAN         DOLLAR        33.110       33.000       32.850       32.890       32.870
  THAILAND       BAHT          40.740       40.420       40.550       40.590       40.460
 *UNITED KINGDOM POUND          1.5656       1.5693       1.5682       1.5685       1.5785
  VENEZUELA      BOLIVAR     1327.00      1321.00      1311.00      1316.00      1266.25

  MEMO:
  UNITED STATES   DOLLAR
1)BROAD          JAN97=100    123.25       123.05       123.12       123.28       122.81
2)MAJOR CURRENCY MAR73=100     97.89        97.73        97.99        98.26        97.54
3)OITP           JAN97=100    139.95       139.73       139.43       139.38       139.44


 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.

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