FOREIGN EXCHANGE

FOREIGN EXCHANGE

The New York foreign exchange rates below are selling rates among trading banks of $1 million and more as quoted early afternoon in New York. Retail transactions provide fewer units of foreign currency per dollar. Foreign currency values are expressed in terms of currency units per dollar unless otherwise noted. To obtain the comparable dollar value, for those rates not quoted in dollars, divide into one. For example, when one U.S. dollar buys 6.9075 French francs, one dollar divided by 6.9075 francs equals $.1448 or 14.48 U.S. cents per franc.

Wednesday, May 13, 1998

Wed. Tues.

*U.K. (Pound) 1.6334 1.6331

30 days 1.6309 1.6306

60 days 1.6287 1.6283

90 days 1.6263 1.6260

CANADA (Dollar) 1.4426 1.4311

30 days 1.4416 1.4300

60 days 1.4407 1.4292

90 days 1.4400 1.4284

NETHERLANDS

(Guilder) 2.0038 1.9976

30 days 2.0002 1.9938

60 days 1.9968 1.9907

90 days 1.9934 1.9872

SWITZERLAND (Franc) 1.4783 1.4783

30 days 1.4731 1.4731

60 days 1.4681 1.4683

90 days 1.4627 1.4633

GERMANY (Mark) 1.7784 1.7726

30 days 1.7752 1.7694

60 days 1.7723 1.7665

90 days 1.7691 1.7635

FRANCE (Franc) 5.9625 5.9439

30 days 5.9518 5.9329

60 days 5.9416 5.9230

90 days 5.9308 5.9131

JAPAN (Yen) 134.04 133.87

30 days 133.45 133.27

60 days 132.87 132.71

90 days 132.22 132.11

OTHER EUROPEAN

Wed. Tues.

AUSTRIA (Schilling) 12.5040 12.4795

BELGIUM (Franc) 36.675 36.605

DENMARK (Krone) 6.7746 6.7574

FINLAND (Markka) 5.4037 5.3905

GREECE (Drachma) 308.25 307.80

Wed. Tues.

ITALY (Lira) 1752.65 1749.10

NORWAY (Krone) 7.4580 7.4108

POLAND (Zloty) 3.4090 3.3790

PORTUGAL (Escudo) 182.11 181.69

SPAIN (Peseta) 150.99 150.64

SWEDEN (Krona) 7.6705 7.6071

ASIAN AND OTHER COUNTRIES

*AUSTRALIA (Dollar) 0.6293 0.6340

HONG KONG (Dollar) 7.7480 7.7475

INDIA (Rupee) 39.770 39.760

INDONESIAN (Rupiah) 11200 9475

ISRAEL (Shekel) 3.6643 3.6635

*KUWAIT (Dinar) 0.3056 0.3056

LEBANON (Pound) 1519.75 1520.00

MALAYSIA (Ringgit) 3.8847 3.8897

*N. ZEALAND (Dollar) 0.5336 0.5365

PAKISTAN (Rupee) 44.00 44.00

PHILIPPINES (Peso) 39.450 39.400

SAUDI ARABIA (Riyal) 3.7504 3.7504

SINGAPORE (Dollar) 1.6585 1.6440

S. AFRICA (Rand) 5.0815 5.0730

S. KOREA (Won) 1405 1389

*SPEC. DRAWING RIGHT 1.34309 1.34599

TAIWAN (Dollar) 33.326 33.191

THAILAND (Baht) 38.90 38.65

TURKEY (Lira) 252450 251810

LATIN AMERICA

ARGENTINA (Peso) 0.9996 0.9996

BRAZIL (Real) 1.1460 1.1448

CHILE (Peso) 452.45 452.30

COLOMBIA (Peso) 1386.20 1385.60

MEXICO (N Peso) 8.5100 8.4830

PERU (New Sol) 2.8400 2.8390

VENEZUELA (Bolivar) 536.30 536.25

GOLD

Price per oz. Wed. Tues.

Spot price 298.70 298.60

*These currencies are expressed in dollars per unit.

CUSTOMS RATES

Federal Reserve Bank of New York certified buying rates for certain foreign currencies to be used for customs purposes or appropriate cases.

Wednesday, May 13, 1998

Country Rate

*AUSTRALIA (Dollar) 0.6276

AUSTRIA (Shilling) 12.5160

BELGIUM (Franc) 36.6950

BRAZIL (Real) 1.1475

CANADA (Dollar) 1.4448

CHINA (Yuan) 8.3100

DENMARK (Krone) 6.7770

*EUR. CUR. UNIT (ECU) 1.1070

FINLAND (Markka) 5.4060

FRANCE (Franc) 5.9647

GERMANY (Mark) 1.7780

GREECE (Drachma) 308.2500

HONG KONG (Dollar) 7.7490

INDIA (Rupee) 39.8500

*IRELAND (Pound) 1.4148

ISRAEL (Shekel) N.A.

ITALY (Lira) 1753.00

JAPAN (Yen) 134.180

MALAYSIA (Dollar) 3.8900

Country Rate

MEXICO (Peso) 8.5150

NETHERLANDS (Guilder) 2.0045

*NEW ZEALAND (Dollar) 0.5345

NORWAY (Krone) 7.4620

PHILIPPINES (Peso) N.A.

PORTUGAL (Escudo) 182.3000

SINGAPORE (Dollar) 1.6595

SOUTH AFRICA (Rand) 5.0840

SOUTH KOREA (Won) 1420.000

SPAIN (Peseta) 151.150

SRI LANKA (Rupee) 64.2000

SWEDEN (Krona) 7.7040

SWITZERLAND (franc) 1.4809

TAIWAN (Dollar) 33.4500

THAILAND (Baht) 39.0500

*UNITED KINGDOM (Pound) 1.6308

VENEZUELA (Bolivar) 535.5100

*These currencies are expressed in dollars per unit.