H.10(512)                                                               February 25, 2005



 FOREIGN EXCHANGE RATES

 FOR THE WEEK ENDING FEBRUARY 25, 2005

 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       Feb. 21      Feb. 22      Feb. 23      Feb. 24      Feb. 25

 *AUSTRALIA      DOLLAR                      0.7940       0.7860       0.7871       0.7853
  BRAZIL         REAL            H           2.5922       2.5800       2.6025       2.6265
  CANADA         DOLLAR                      1.2301       1.2402       1.2435       1.2407
  CHINA, P.R.    YUAN                        8.2765       8.2765       8.2765       8.2765
  DENMARK        KRONE           O           5.6235       5.6302       5.6317       5.6401
 *EMU MEMBERS    EURO                        1.3230       1.3208       1.3205       1.3195
  HONG KONG      DOLLAR                      7.7995       7.7996       7.7996       7.7996
  INDIA          RUPEE           L          43.63        43.61        43.57        43.61
  JAPAN          YEN                       104.15       104.96       105.41       105.21
  MALAYSIA       RINGGIT                     3.8000       3.8000       3.8000       3.8000
  MEXICO         PESO            I          11.043       11.087       11.102       11.091
 *NEW ZEALAND    DOLLAR                      0.7304       0.7237       0.7225       0.7202
  NORWAY         KRONE                       6.2420       6.2425       6.2467       6.2591
  SINGAPORE      DOLLAR          D           1.6266       1.6274       1.6300       1.6317
  SOUTH AFRICA   RAND                        5.7625       5.8025       5.8225       5.8262
  SOUTH KOREA    WON                      1004.85      1002.85      1006.85      1007.85
  SRI LANKA      RUPEE           A          99.330       99.000       99.150       99.370
  SWEDEN         KRONA                       6.8697       6.8783       6.8724       6.8701
  SWITZERLAND    FRANC                       1.1617       1.1638       1.1691       1.1686
  TAIWAN         DOLLAR          Y          31.115       31.195       31.215       31.165
  THAILAND       BAHT                       38.340       38.440       38.430       38.360
 *UNITED KINGDOM POUND                       1.9092       1.9066       1.9104       1.9149
  VENEZUELA      BOLIVAR                  1915.20      1915.20      1915.20      1915.20

  MEMO:
  UNITED STATES   DOLLAR
1)BROAD          JAN97=100                 108.60       108.94       109.10       109.06
2)MAJOR CURRENCY MAR73=100                  80.83        81.23        81.36        81.28
3)OITP           JAN97=100                 138.71       138.83       139.02       139.06


 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 February 2005, and is reflected in the February 7, 2005 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

 For information about your subscription to this release or about receiving it in document form,
 please call publication services at Federal Reserve Board at (202) 452-3244. 

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