H.10(512)                                                                October 22, 2004



 FOREIGN EXCHANGE RATES

 FOR THE WEEK ENDING OCTOBER 22, 2004

 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       Oct. 18      Oct. 19      Oct. 20      Oct. 21      Oct. 22

 *AUSTRALIA      DOLLAR         0.7267       0.7285       0.7367       0.7390       0.7396
  BRAZIL         REAL           2.8575       2.8760       2.8870       2.8510       2.8520
  CANADA         DOLLAR         1.2550       1.2542       1.2432       1.2426       1.2379
  CHINA, P.R.    YUAN           8.2765       8.2765       8.2765       8.2765       8.2765
  DENMARK        KRONE          5.9425       5.9452       5.8901       5.8898       5.8826
 *EMU MEMBERS    EURO           1.2520       1.2515       1.2627       1.2622       1.2639
  HONG KONG      DOLLAR         7.7915       7.7905       7.7856       7.7864       7.7868
  INDIA          RUPEE         45.83        45.85        45.70        45.65        45.62
  JAPAN          YEN          109.23       108.36       108.16       107.43       107.42
  MALAYSIA       RINGGIT        3.8000       3.8000       3.8000       3.8000       3.8000
  MEXICO         PESO          11.499       11.458       11.452       11.477       11.442
 *NEW ZEALAND    DOLLAR         0.6863       0.6875       0.6925       0.6947       0.6944
  NORWAY         KRONE          6.5650       6.5900       6.5172       6.5197       6.4946
  SINGAPORE      DOLLAR         1.6774       1.6735       1.6724       1.6736       1.6674
  SOUTH AFRICA   RAND           6.3525       6.3000       6.2950       6.2350       6.1900
  SOUTH KOREA    WON         1144.00      1145.00      1141.00      1140.00      1140.50
  SRI LANKA      RUPEE        104.000      104.050      103.940      103.920      103.900
  SWEDEN         KRONA          7.2500       7.2572       7.1776       7.2000       7.1968
  SWITZERLAND    FRANC          1.2296       1.2298       1.2181       1.2168       1.2163
  TAIWAN         DOLLAR        33.760       33.870       33.810       33.780       33.620
  THAILAND       BAHT          41.490       41.350       41.280       41.250       41.220
 *UNITED KINGDOM POUND          1.8010       1.8039       1.8187       1.8297       1.8277
  VENEZUELA      BOLIVAR     1920.00      1920.00      1915.20      1915.20      1915.20

  MEMO:
  UNITED STATES   DOLLAR
1)BROAD          JAN97=100    113.47       113.32       112.82       112.69       112.52
2)MAJOR CURRENCY MAR73=100     84.56        84.41        83.78        83.61        83.48
3)OITP           JAN97=100    144.89       144.79       144.70       144.67       144.45


 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
 in early December 2003, and is reflected in the December 22, 2003 release of this weekly report.
 The source for exchange rates not listed in the table above but used in the calculation of the
 broad and OITP indexes is Reuters Limited.

 *  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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