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.

Tuesday, May 26, 1998

Tues. Fri.

*U.K. (Pound) 1.6358 1.6305

30 days 1.6332 1.6278

60 days 1.6310 1.6257

90 days 1.6287 1.6234

CANADA (Dollar) 1.4540 1.4496

30 days 1.4529 1.4486

60 days 1.4521 1.4477

90 days 1.4513 1.4469

NETHERLANDS

(Guilder) 1.9963 1.9805

30 days 1.9924 1.9767

60 days 1.9891 1.9732

90 days 1.9857 1.9699

SWITZERLAND (Franc) 1.4728 1.4630

30 days 1.4677 1.4581

60 days 1.4630 1.4531

90 days 1.4580 1.4483

GERMANY (Mark) 1.7712 1.7584

30 days 1.7679 1.7552

60 days 1.7649 1.7520

90 days 1.7619 1.7492

FRANCE (Franc) 5.9395 5.8930

30 days 5.9285 5.8822

60 days 5.9185 5.8713

90 days 5.9081 5.8614

JAPAN (Yen) 137.79 135.58

30 days 137.17 134.98

60 days 136.59 134.38

90 days 135.98 133.79

OTHER EUROPEAN

Tues. Fri.

AUSTRIA (Schilling) 12.4450 12.3635

BELGIUM (Franc) 36.485 36.245

DENMARK (Krone) 6.7372 6.7013

FINLAND (Markka) 5.3766 5.3441

GREECE (Drachma) 303.25 301.75

Tues. Fri.

ITALY (Lira) 1743.85 1732.50

NORWAY (Krone) 7.4820 7.4108

POLAND (Zloty) 3.6849 3.6849

PORTUGAL (Escudo) 180.96 179.97

SPAIN (Peseta) 150.28 149.39

SWEDEN (Krona) 7.7425 7.6791

ASIAN AND OTHER COUNTRIES

*AUSTRALIA (Dollar) 0.6214 0.6317

HONG KONG (Dollar) 7.7470 7.7470

INDIA (Rupee) 41.15 40.65

INDONESIAN (Rupiah) 10700 11000

ISRAEL (Shekel) 3.6359 3.6359

*KUWAIT (Dinar) 0.3058 0.3058

LEBANON (Pound) 1519.00 1519.50

MALAYSIA (Ringgit) 3.8347 3.8095

*N. ZEALAND (Dollar) 0.5337 0.5356

PAKISTAN (Rupee) 44.00 44.00

PHILIPPINES (Peso) 38.650 38.650

SAUDI ARABIA (Riyal) 3.7505 3.7505

SINGAPORE (Dollar) 1.6529 1.6365

S. AFRICA (Rand) 5.1190 5.1010

S. KOREA (Won) 1393 1383

*SPEC. DRAWING RIGHT 1.34049 1.34402

TAIWAN (Dollar) 33.510 33.510

THAILAND (Baht) 39.05 39.25

TURKEY (Lira) 255470 254650

LATIN AMERICA

ARGENTINA (Peso) 0.9996 0.9996

BRAZIL (Real) 1.1513 1.1513

CHILE (Peso) 453.40 453.40

COLOMBIA (Peso) 1394.65 1394.65

MEXICO (N Peso) 8.7200 8.6400

PERU (New Sol) 2.8430 2.8430

VENEZUELA (Bolivar) 536.40 536.40

GOLD

Price per oz. Tues. Fri.

Spot price 296.90 300.00

*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.

Tuesday, May 26, 1998

Country Rate

*AUSTRALIA (Dollar) 0.6225

AUSTRIA (Shilling) 12.4420

BELGIUM (Franc) 36.4710

BRAZIL (Real) 1.1530

CANADA (Dollar) 1.4549

CHINA (Yuan) 8.3100

DENMARK (Krone) 6.7460

*EUR. CUR. UNIT (ECU) 1.1139

FINLAND (Markka) 5.3780

FRANCE (Franc) 5.9305

GERMANY (Mark) 1.7684

GREECE (Drachma) 304.0000

HONG KONG (Dollar) 7.7478

INDIA (Rupee) 41.3000

*IRELAND (Pound) 1.4231

ISRAEL (Shekel) N.A.

ITALY (Lira) 1744.10

JAPAN (Yen) 137.380

MALAYSIA (Dollar) 3.8450

Country Rate

MEXICO (Peso) 8.7273

NETHERLANDS (Guilder) 1.9928

*NEW ZEALAND (Dollar) 0.5335

NORWAY (Krone) 7.4700

PHILIPPINES (Peso) N.A.

PORTUGAL (Escudo) 181.0600

SINGAPORE (Dollar) 1.6550

SOUTH AFRICA (Rand) 5.1190

SOUTH KOREA (Won) 1397.000

SPAIN (Peseta) 150.200

SRI LANKA (Rupee) 64.8000

SWEDEN (Krona) 7.7480

SWITZERLAND (franc) 1.4700

TAIWAN (Dollar) 33.8900

THAILAND (Baht) 39.3000

*UNITED KINGDOM (Pound) 1.6365

VENEZUELA (Bolivar) 537.7600

*These currencies are expressed in dollars per unit.