H.10 DAILY UPDATE: WEB RELEASE ONLY                               For immediate release
 FOREIGN EXCHANGE RATES                                            September 15, 2008

 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       Sep. 15      Sep. 16      Sep. 17      Sep. 18      Sep. 19

 *AUSTRALIA      DOLLAR         0.8080
  BRAZIL         REAL           1.8050
  CANADA         DOLLAR         1.0670
  CHINA, P.R.    YUAN           6.8482
  DENMARK        KRONE          5.2590
 *EMU MEMBERS    EURO           1.4175
  HONG KONG      DOLLAR         7.7937
  INDIA          RUPEE         45.9300
  JAPAN          YEN          105.6700
  MALAYSIA       RINGGIT        3.4427
  MEXICO         PESO          10.7116
 *NEW ZEALAND    DOLLAR         0.6600
  NORWAY         KRONE          5.7794
  SINGAPORE      DOLLAR         1.4292
  SOUTH AFRICA   RAND           8.0750
  SOUTH KOREA    WON         1117.8500
  SRI LANKA      RUPEE        107.8500
  SWEDEN         KRONA          6.7555
  SWITZERLAND    FRANC          1.1194
  TAIWAN         DOLLAR        32.0700
  THAILAND       BAHT          34.5600
 *UNITED KINGDOM POUND          1.7877
  VENEZUELA      BOLIVAR        2.1446

  MEMO:
  UNITED STATES   DOLLAR
1)BROAD          JAN97=100    100.7103
2)MAJOR CURRENCY MAR73=100     75.9739
3)OITP           JAN97=100    126.7793


 For more information on exchange rate indexes for the U.S. dollar, see "Indexes of the Foreign
 Exchange Value of the Dollar," Federal Reserve Bulletin, 91:1 (Winter 2005), pp. 1-8
 (http://www.federalreserve.gov/pubs/bulletin/2005/winter05_index.pdf). 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 of the currency weights and dollar indexes took effect
 with the January 2, 2007 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 Bloomberg L.P.

 *  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
                =  239.640  SLOVENIAN TOLAR