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Release Date: January 5, 2004
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G.5(405) January 2, 2004
FOREIGN EXCHANGE RATES
THE TABLE BELOW SHOWS THE AVERAGE RATES OF EXCHANGE IN DECEMBER 2003 TOGETHER
WITH COMPARABLE FIGURES FOR OTHER MONTHS. AVERAGES ARE BASED ON DAILY NOON BUYING
RATES FOR CABLE TRANSFERS IN NEW YORK CITY CERTIFIED FOR CUSTOMS PURPOSES BY
THE FEDERAL RESERVE BANK OF NEW YORK.
(Currency units per U.S. dollar except as noted)
MONETARY 2003 2003 2003 2002
COUNTRY UNIT December November October December
*AUSTRALIA DOLLAR 0.7385 0.7158 0.6948 0.5624
BRAZIL REAL 2.9270 2.9150 2.8628 3.6268
CANADA DOLLAR 1.3137 1.3130 1.3221 1.5592
CHINA, P.R. YUAN 8.2770 8.2769 8.2768 8.2777
DENMARK KRONE 6.0603 6.3526 6.3449 7.2874
*EMU MEMBERS EURO 1.2284 1.1710 1.1714 1.0194
HONG KONG DOLLAR 7.7645 7.7637 7.7427 7.7988
INDIA RUPEE 45.58 45.55 45.40 48.15
JAPAN YEN 107.77 109.18 109.50 121.89
MALAYSIA RINGGIT 3.8000 3.8000 3.8000 3.8000
MEXICO PESO 11.252 11.149 11.180 10.225
*NEW ZEALAND DOLLAR 0.6467 0.6285 0.6020 0.5108
NORWAY KRONE 6.7151 7.0054 7.0331 7.1557
SINGAPORE DOLLAR 1.6875 1.7282 1.7345 1.7532
SOUTH AFRICA RAND 6.5297 6.7205 6.9644 8.9479
SOUTH KOREA WON 1192.35 1186.39 1169.34 1206.61
SRI LANKA RUPEE 96.395 96.011 94.560 96.705
SWEDEN KRONA 7.3464 7.6799 7.6957 8.9303
SWITZERLAND FRANC 1.2655 1.3318 1.3222 1.4388
TAIWAN DOLLAR 34.060 34.036 33.875 34.799
THAILAND BAHT 39.750 39.935 39.760 43.318
*UNITED KINGDOM POUND 1.7501 1.6897 1.6792 1.5863
VENEZUELA BOLIVAR 1599.86 1600.00 1600.00 1328.29
MEMO:
UNITED STATES DOLLAR
1)BROAD JAN97=100 114.52 116.07 116.21 125.13
2)MAJOR CURRENCY MAR73=100 86.27 88.51 88.82 101.47
3)OITP JAN97=100 144.17 144.10 143.83 144.00
This release is available online at http://www.federalreserve.gov/releases/G5.
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 (OITIP) index are derived from the broad index
weights. The most recent annual revision to the trade weights and the dollar indexes took effect
with the December 31, 2003, 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.
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.
The euro is reported in place of the individual eure-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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