U.S. DOLLAR RATES OF SELECTED CURRENCIES                           
  end-of-period                                    
                                         
                                         
      Phil   Japanese EURO   Pound Canadian    Swiss Brunei Australian     Hongkong      N T  S. Korean  Singapore     Malaysian Thai    Indonesian Saudi    
        Period Peso       Yen Dollar   Sterling Dollar   Franc Dollar Dollar    Dollar      Dollar   Won  Dollar       Ringgit Baht     Rupiah Rial S.D.R.  
                                         
                                         
  1985   0.052543 0.004933   1.428500 0.714000 0.475300     0.128100 0.025100 0.001127 0.472400 0.411300 0.039000 0.001030 0.273900 1.098420  
  1986   0.048709 0.006203   1.464000 0.725400 0.609300   0.662000 0.128300 0.027700 0.001200 0.457000 0.385200 0.662000 0.000607 0.266500 1.223190  
  1987   0.048077 0.008093   1.862000 0.766600 0.775100   0.718900 0.128700 0.035500 0.001300 0.501600 0.402800 0.041200 0.000624 0.266700 1.418700  
  1988   0.046871 0.007958   1.790000 0.837800 0.660900 0.515300 0.856100 0.128100 0.035600 0.001466 0.514000 0.370100 0.039700 0.000579 0.266700 1.345700  
  1989   0.044563 0.006963   1.604500 0.864900 0.649700 0.529300 0.795500 0.128100 0.038300 0.001500 0.529600 0.371200 0.038900 0.000560 0.266800 1.314160  
  1990   0.035714 0.007334   1.890000 0.860800 0.767400 0.567800 0.768000 0.128200 0.037500 0.001420 0.571100 0.367200 0.039700 0.000531 0.267300 1.422660  
  1991   0.037523 0.007911   1.884500 0.862400 0.744300 0.612300 0.761000 0.128700 0.039277 0.001343 0.614200 0.366400 0.039700 0.000505 0.267300 1.430430  
  1992   0.039847 0.008009   1.498500 0.792000 0.681600 0.608000 0.688700 0.129200 0.039714 0.001295 0.609900 0.384500 0.039400 0.000488 0.267300 1.375000  
  1993   0.036102 0.008960 1.119500 1.508100 0.751400 0.694900 0.624000 0.678800 0.129500 0.037950 0.001237 0.625900 0.384600 0.039400 0.000475 0.267300 1.375930  
  1994   0.040953 0.010080 1.205300 1.570500 0.711700 0.767100 0.680600 0.778100 0.129200 0.038211 0.001266 0.682900 0.390400 0.039800 0.000454 0.267300 1.448970  
  1995   0.038148 0.008700 1.279000 1.674500 0.734400 0.744600 0.705700 0.745400 0.129300 0.036700 0.001200 0.715300 0.395600 0.039200 0.000436 0.267300 1.435500  
  1996   0.038040 0.008700 n.a. 1.674500 0.733400 0.744600 0.712700 0.795600 0.129300 0.036700 0.001200 0.715300 0.395600 0.039200 0.000400 0.267300 1.435500  
  1997   0.025016 0.007669 n.a. 1.678600 0.696718 0.697837 0.597372 0.655500 0.129057 0.030769 0.000667 0.599161 0.260722 0.022272 0.000196 0.266624 1.355420  
  1998   0.025602 0.008624 n.a. 1.675500 0.644621 0.730887 0.601685 0.606502 0.129104 0.031046 0.000828 0.603500 0.263165 0.027248 0.000127 0.266631 1.402580  
  1999   0.024806 0.009768 1.007000 1.615000 0.689655 0.627431 0.598982 0.645286 0.128655 0.031847 0.000875 0.600781 0.263165 0.026667 0.000141 0.266667 1.372350  
  2000   0.020001 0.008737 0.929900 1.495000 0.666578 0.611770 0.576037 0.552212 0.128230 0.030211 0.000799 0.577701 0.263193 0.023170 0.000104 0.266667 1.302340  
  2001   0.019454 0.007595 0.883100 1.453400 0.626135 0.595628 0.539520 0.507099 0.128251 0.028547 0.000758 0.539520 0.263158 0.022604 0.000096 0.266660 1.254470  
  2002   0.018834 0.008339 1.038000 1.601100 0.641931 0.713114 0.573625 0.562303 0.128230 0.028802 0.000833 0.575275 0.263193 0.023256 0.000113 0.266667 1.350400  
  2003   0.017996 0.009336 1.248500 1.772900 0.763009 0.800128 0.585892 0.742005 0.128828 0.029446 0.000835 0.587613 0.263193 0.025265 0.000118 0.266667 1.480300  
  2004   0.017772 0.009704 1.361400 1.928000 0.821423 0.882379 0.609682 0.778392 0.128649 0.031226 0.000960 0.611546 0.263193 0.025611 0.000107 0.266660 1.550890  
  2005   0.018844 0.008485 1.183800 1.716400 0.858295 0.759417 0.598408 0.730674 0.128994 0.030248 0.000987 0.600204 0.264599 0.024420 0.000102 0.266638 1.434720  
                                         
  2006 Jan 0.019107 0.008502 1.208900 1.768500 0.872144 0.777001 0.612332 0.749008 0.128921 0.031314 0.001030 0.614213 0.266702 0.025569 0.000107 0.266674 1.443610  
    Feb 0.019198 0.008607 1.185000 1.739800 0.877193 0.756144 0.614666 0.737790 0.128893 0.030863 0.001033 0.616561 0.269382 0.025510 0.000108 0.266631 1.433530  
    Mar 0.019499 0.008523 1.217200 1.747700 0.863409 0.771486 0.615953 0.713725 0.128873 0.030728 0.001025 0.617856 0.271003 0.025750 0.000110 0.266638 1.440620  
    Apr 0.019295 0.008763 1.253200 1.802000 0.890551 0.793714 0.629723 0.756773 0.128959 0.031372 0.001059 0.631712 0.275482 0.026667 0.000114 0.266638 1.463260  
    May 0.018992 0.008917 1.286800 1.884200 0.909835 0.825559 0.631672 0.763475 0.128908 0.031162 0.001057 0.633673 0.276472 0.026226 0.000109 0.266652 1.493620  
    Jun 0.018661 0.008681 1.264900 1.826600 0.900333 0.807754 0.626566 0.731422 0.128745 0.030769 0.001041 0.628536 0.271370 0.026018 0.000107 0.266716 1.467250  
    Jul 0.019371 0.008721 1.276200 1.863600 0.883704 0.811425 0.631712 0.766401 0.128684 0.030492 0.001049 0.633714 0.272926 0.026371 0.000110 0.266660 1.478300  
    Aug 0.019632 0.008540 1.283400 1.904900 0.901632 0.814598 0.633513 0.764409 0.128579 0.030395 0.001041 0.635526 0.271813 0.026606 0.000110 0.266645 1.486410  
    Sep 0.019846 0.008538 1.268900 1.893900 0.897827 0.804246 0.627235 0.751484 0.128419 0.030367 0.001059 0.629208 0.271813 0.026667 0.000108 0.266660 1.481650  
    Oct 0.020078 0.008516 1.273100 1.902400 0.888178 0.801410 0.638896 0.768521 0.128619 0.030102 0.001059 0.640943 0.274650 0.027248 0.000110 0.266674 1.482140  
    Nov 0.020095 0.008593 1.315100 1.946100 0.879198 0.826583 0.645661 0.783883 0.128614 0.030798 0.001075 0.647752 0.275862 0.027755 0.000109 0.266652 1.505980  
  2006 Dec 0.020353 0.008408 1.314900 1.963200 0.861846 0.818532 0.649646 0.787774 0.128669 0.030626 0.001076 0.651763 0.283206 0.027910 0.000111 0.266667 1.503160  
                                         
  2007 January 0.020397 0.008224 1.296600 1.962800 0.847314 0.798786 0.648550 0.772022 0.128046 0.030332 0.001061 0.650660 0.285608 0.029197 0.000110 0.266638 1.491640  
    February 0.020710 0.008481 1.324300 1.960800 0.856971 0.821018 0.652614 0.792393 0.127977 0.030353 0.001066 0.654750 0.286205 0.029369 0.000110 0.266667 1.505400  
    March 0.020720 0.008480 1.333500 1.962400 0.863260 0.821625 0.657117 0.807428 0.127990 0.030253 0.001064 0.659283 0.289645 0.031153 0.000110 0.266681 1.513240  
    April 0.021048 0.008368 1.365500 1.998600 0.896298 0.829807 0.657462 0.829669 0.127863 0.030063 0.001076 0.659631 0.292398 0.030488 0.000110 0.266652 1.525730  
    May 0.021613 0.008220 1.343600 1.976100 0.931446 0.816327 0.651806 0.821625 0.128133 0.030326 0.001075 0.653937 0.294118 0.030600 0.000113 0.266660 1.511990  
    June 0.021585 0.008120 1.344100 2.002200 0.945626 0.812018 0.649266 0.846095 0.127936 0.030455 0.001079 0.651381 0.288600 0.031746 0.000110 0.266645 1.514340  
    July 0.021925 0.008397 1.369400 2.024700 0.936856 0.830703 0.658848 0.851716 0.127804 0.030469 0.001083 0.661026 0.289017 0.033784 0.000109 0.266667 1.530780  
    August 0.021416 0.008631 1.362800 2.012300 0.945090 0.830427 0.654450 0.818532 0.128230 0.030259 0.001063 0.656599 0.285551 0.031008 0.000106 0.266624 1.530690  
    September 0.022191 0.008650 1.415100 2.027000 0.998403 0.852224 0.668852 0.878735 0.128876 0.030377 0.001087 0.671096 0.292826 0.031646 0.000109 0.267444 1.554320  
    October 0.022755 0.008724 1.443900 2.068700 1.050200 0.863260 0.687238 0.919709 0.129032 0.030863 0.001103 0.689608 0.299222 0.031797 0.000110 0.267373 1.568850  
    November 0.023366 0.009083 1.483300 2.081600 1.015228 0.899685 0.690512 0.882690 0.128467 0.030953 0.001074 0.692905 0.295858 0.032468 0.000106 0.269542 1.590070  
    December 0.024154 0.008796 1.462700 1.996100 1.019680 0.877578 0.687521 0.876885 0.128205 0.030747 0.001064 0.689893 0.300120 0.033557 0.000106 0.266809 1.567270  
                                         
  2008 January 0.024600 0.009394 1.488300 1.991200 1.007760 0.924214 0.702839 0.889205 0.128151 0.031054 0.001059 0.705318 0.309262 0.030271 0.000108 0.266702 1.591640  
    February 0.024777 0.009494 1.521700 1.992100 1.025746 0.952472 0.714694 0.946432 0.128493 0.032370 0.001068 0.717257 0.312500 0.031260 0.000110 0.267237 1.602570  
    March 0.023885 0.010077 1.579900 1.993900 0.978953 1.004722 0.722335 0.916758 0.128523 0.032909 0.001013 0.724953 0.312989 0.031822 0.000109 0.266588 1.645990  
    April 0.023701 0.009610 1.556600 1.969600 0.988240 0.963763 0.731850 0.933968 0.128343 0.032900 0.000998 0.734538 0.317460 0.031576 0.000109 0.266610 1.625540  
    May 0.022788 0.009474 1.550500 1.975400 1.012043 0.952562 0.729554 0.956206 0.128128 0.032846 0.000970 0.732225 0.307692 0.030807 0.000107 0.266638 1.623390  
    June 0.022343 0.009430 1.579100 1.994800 0.989413 0.982318 0.731101 0.961538 0.128185 0.032923 0.000960 0.733783 0.306748 0.029842 0.000109 0.266702 1.514340  
    July 0.022655 0.009252 1.557800 1.982300 0.977326 0.954198 0.728810 0.942507 0.128148 0.032782 0.000988 0.731475 0.306560 0.029878 0.000110 0.266667 1.620450  
    August #VALUE!                                  
    September #VALUE!                                  
    October #VALUE!                                  
    November #VALUE!                                  
    December #VALUE!                                  
                                         
                                         
      n.a. - not available                                    
    Source:   Reference Exchange Rate Bulletin, Treasury Department, Bangko Sentral ng Pilipinas