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Release Date: March 1, 2004
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G.5(405) February 27, 2004
FOREIGN EXCHANGE RATES
THE TABLE BELOW SHOWS THE AVERAGE RATES OF EXCHANGE IN FEBRUARY 2004 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 2004 2004 2003 2003
COUNTRY UNIT February January December February
*AUSTRALIA DOLLAR 0.7770 0.7717 0.7391 0.5956
BRAZIL REAL 2.9342 2.8533 2.9255 3.5955
CANADA DOLLAR 1.3299 1.2958 1.3128 1.5121
CHINA, P.R. YUAN 8.2771 8.2770 8.2770 8.2780
DENMARK KRONE 5.8956 5.8952 6.0537 6.8920
*EMU MEMBERS EURO 1.2640 1.2638 1.2298 1.0785
HONG KONG DOLLAR 7.7748 7.7663 7.7645 7.7995
INDIA RUPEE 45.27 45.46 45.57 47.75
JAPAN YEN 106.71 106.27 107.74 119.34
MALAYSIA RINGGIT 3.8000 3.8000 3.8000 3.8000
MEXICO PESO 11.032 10.920 11.251 10.945
*NEW ZEALAND DOLLAR 0.6916 0.6738 0.6471 0.5539
NORWAY KRONE 6.9508 6.8117 6.7128 7.0004
SINGAPORE DOLLAR 1.6869 1.6965 1.7107 1.7451
SOUTH AFRICA RAND 6.7542 6.9398 6.5374 8.2858
SOUTH KOREA WON 1167.53 1183.35 1192.34 1190.37
SRI LANKA RUPEE 98.507 98.009 96.413 96.879
SWEDEN KRONA 7.2630 7.2334 7.3395 8.4837
SWITZERLAND FRANC 1.2448 1.2391 1.2643 1.3602
TAIWAN DOLLAR 33.214 33.669 34.056 34.734
THAILAND BAHT 39.116 39.124 39.745 42.897
*UNITED KINGDOM POUND 1.8673 1.8255 1.7516 1.6079
VENEZUELA BOLIVAR 1818.95 1600.00 1599.86 1651.08
MEMO:
UNITED STATES DOLLAR
1)BROAD JAN97=100 113.10 112.54 114.51 123.53
2)MAJOR CURRENCY MAR73=100 84.97 84.43 86.27 97.73
3)OITP JAN97=100 142.97 142.54 144.27 146.53
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 (OITP) 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. 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.
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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