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, June 24, 1998

Wed. Tue.

*U.K. (Pound) 1.6650 1.6650

30 days 1.6653 1.6623

60 days 1.6627 1.6595

90 days 1.6594 1.6565

CANADA (Dollar) 1.4697 1.4697

30 days 1.4687 1.4687

60 days 1.4678 1.4679

90 days 1.4672 1.4672

NETHERLANDS

(Guilder) 2.0305 2.0308

30 days 2.0266 2.0269

60 days 2.0230 2.0234

90 days 2.0191 2.0199

SWITZERLAND (Franc) 1.5073 1.5044

30 days 1.5027 1.4995

60 days 1.4981 1.4950

90 days 1.4932 1.4903

GERMANY (Mark) 1.8015 1.8020

30 days 1.7982 1.7986

60 days 1.7951 1.7956

90 days 1.7918 1.7925

FRANCE (Franc) 6.0375 6.0415

30 days 6.0264 6.0301

60 days 6.0161 6.0201

90 days 6.0049 6.0096

JAPAN (Yen) 140.89 139.05

30 days 140.26 138.41

60 days 139.65 137.83

90 days 138.98 137.21

OTHER EUROPEAN

Wed. Tue.

AUSTRIA (Schilling) 12.6675 12.6745

BELGIUM (Franc) 37.170 37.155

DENMARK (Krone) 6.8591 6.8675

FINLAND (Markka) 5.4752 5.4795

GREECE (Drachma) 303.78 303.37

Wed. Tue.

ITALY (Lira) 1774.00 1774.50

NORWAY (Krone) 7.5880 7.6010

POLAND (Zloty) 3.4630 3.4630

PORTUGAL (Escudo) 184.40 184.70

SPAIN (Peseta) 152.84 152.85

SWEDEN (Krona) 7.8947 7.9396

ASIAN AND OTHER COUNTRIES

*AUSTRALIA (Dollar) 0.6068 0.6075

HONG KONG (Dollar) 7.7440 7.7430

INDIA (Rupee) 42.67 42.87

INDONESIAN (Rupiah) 14900 14600

ISRAEL (Shekel) 3.6490 3.6490

*KUWAIT (Dinar) 0.3065 0.3061

LEBANON (Pound) 1516.75 1517.00

MALAYSIA (Ringgit) 3.9498 3.9495

*N. ZEALAND (Dollar) 0.5179 0.5085

PAKISTAN (Rupee) 44.25 44.25

PHILIPPINES (Peso) 41.000 41.000

SAUDI ARABIA (Riyal) 3.7506 3.7502

SINGAPORE (Dollar) 1.6555 1.6503

S. AFRICA (Rand) 5.4380 5.4805

S. KOREA (Won) 1380 1383

*SPEC. DRAWING RIGHT 1.33422 1.33765

TAIWAN (Dollar) 34.480 34.480

THAILAND (Baht) 41.05 41.10

TURKEY (Lira) 264490 264250

LATIN AMERICA

ARGENTINA (Peso) 0.9996 0.9996

BRAZIL (Real) 1.1549 1.1549

CHILE (Peso) 455.60 455.60

COLOMBIA (Peso) 1393.50 1393.50

MEXICO (N Peso) 8.9100 8.8690

PERU (New Sol) 2.9220 2.9220

VENEZUELA (Bolivar) 543.50 543.50

GOLD

Price per oz. Wed. Tue.

Spot price 292.50 294.30

*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, June 24, 1998

COUNTRY RATE

*AUSTRALIA (Dollar) 0.6074

AUSTRIA (Shilling) 12.6780

BELGIUM (Franc) 37.1600

BRAZIL (Real) 1.1557

CANADA (Dollar) 1.4700

CHINA (Yuan) 8.3100

DENMARK (Krone) 6.8570

*EUR. CUR. UNIT (ECU) 1.0990

FINLAND (Markka) 5.4770

FRANCE (Franc) 6.0390

GERMANY (Mark) 1.8014

GREECE (Drachma) 303.8600

HONG KONG (Dollar) 7.7448

INDIA (Rupee) 42.8500

*IRELAND (Pound) 1.3970

ISRAEL (Shekel) N.A.

ITALY (Lira) 1775.10

JAPAN (Yen) 140.750

MALAYSIA (Dollar) 3.9500

COUNTRY RATE

MEXICO (Peso) 8.9400

NETHERLANDS (Guilder) 2.0307

*NEW ZEALAND (Dollar) 0.5166

NORWAY (Krone) 7.5820

PHILIPPINES (Peso) N.A.

PORTUGAL (Escudo) 184.5000

SINGAPORE (Dollar) 1.6600

SOUTH AFRICA (Rand) 5.4320

SOUTH KOREA (Won) 1382.000

SPAIN (Peseta) 152.890

SRI LANKA (Rupee) 64.9000

SWEDEN (Krona) 7.8945

SWITZERLAND (franc) 1.5080

TAIWAN (Dollar) 34.4000

THAILAND (Baht) 41.2500

*UNITED KINGDOM (Pound) 1.6683

VENEZUELA (Bolivar) 545.5000

*These currencies are expressed in dollars per unit.