37.2 U.S. DOLLAR RATES OF SELECTED CURRENCIES                              
  end-of-period                                    
                                         
                                         
      Phil   Japanese     Pound Canadian    Swiss Brunei Australian     Hongkong      N T  S. Korean  Singapore     Malaysian Thai    Indonesian Saudi    
        Period Peso       Yen Euro   Sterling Dollar   Franc Dollar Dollar    Dollar      Dollar   Won  Dollar       Ringgit Baht     Rupiah Rial S.D.R.  
                                         
                                         
  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 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 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 December 0.021059 0.010996 1.395100 1.476000 0.822504 0.919540 0.686908 0.678518 0.129037 0.030291 0.000751 0.689275 0.288351 0.028918 0.000092 0.266517 1.543270  
  2009 December 0.021572 0.010913 1.438100 1.600400 0.959417 0.966651 0.709320 0.887469 0.128942 0.030979 0.000856 0.711845 0.291758 0.029958 0.000106 0.266610 1.567440  
                                         
  2010 January 0.021394 0.011125 1.397000 1.613400 0.938350 0.950570 0.709874 0.896138 0.128735 0.031279 0.000870 0.712403 0.293083 0.030257 0.000107 0.266667 1.556580  
    February 0.021618 0.011228 1.354900 1.526700 0.943307 0.926097 0.707664 0.881834 0.128801 0.031153 0.000858 0.710177 0.293772 0.030266 0.000107 0.266681 1.529370  
    March 0.022114 0.010777 1.341500 1.506800 0.980777 0.937734 0.711997 0.917768 0.128790 0.031456 0.000884 0.714541 0.306072 0.030941 0.000110 0.266667 1.519540  
    April 0.022399 0.010634 1.323500 1.532500 0.995917 0.922765 0.727590 0.926870 0.128803 0.031908 0.000897 0.730247 0.313480 0.030989 0.000111 0.266660 1.508350  
    May 0.021639 0.011005 1.226900 1.446300 0.949758 0.863036 0.708265 0.815395 0.128194 0.031008 0.000800 0.710783 0.297442 0.030731 0.000107 0.266660 1.474330  
    June 0.021594 0.011188 1.227800 1.511100 0.966184 0.919963 0.719062 0.871800 0.128480 0.031206 0.000832 0.721657 0.310366 0.030921 0.000111 0.266645 1.479600  
    July 0.021828 0.011501 1.307400 1.560600 0.965065 0.960246 0.731315 0.899600 0.128776 0.031294 0.000844 0.733999 0.313578 0.031017 0.000111 0.266674 1.521650  
    August 0.022134 0.011832 1.266500 1.545900 0.944198 0.974849 0.734970 0.892100 0.128553 0.031230 0.000840 0.737681 0.318492 0.031990 0.000111 0.266660 1.509130  
    September 0.022781 0.011953 1.363200 1.578500 0.968429 1.023437 0.757346 0.968800 0.128899 0.031881 0.000877 0.760225 0.324254 0.032852 0.000112 0.266667 1.552270  
    October 0.023158 0.012344 1.393000 1.593800 0.978953 1.017191 0.768699 0.978400 0.128927 0.032595 0.000890 0.771664 0.321750 0.033411 0.000112 0.266667 1.569560  
    November 0.022596 0.011869 1.312300 1.557800 0.982318 1.000500 0.755002 0.963300 0.128785 0.032755 0.000861 0.757863 0.317460 0.033124 0.000111 0.266660 1.531360  
    December 0.022787 0.012246 1.322400 1.550100 0.999700 1.057082 0.770535 1.017200 0.128505 0.034151 0.000875 0.773515 0.323834 0.033167 0.000111 0.266660 1.533190  
                                         
  2011 January 0.022682 0.012180 1.361800 1.586400 0.999201 1.061684 0.775434 0.993300 0.128338 0.034486 0.000896 0.778452 0.327439 0.032227 0.000111 0.266652 1.564300  
    February 0.022812 0.012244 1.375200 1.611900 1.022913 1.077238 0.783085 1.017400 0.128451 0.034453 0.000898 0.786164 0.328731 0.032648 0.000111 0.266660 1.569570  
    March 0.023024 0.012067 1.412800 1.607700 1.029548 1.088850 0.789702 1.032600 0.128464 0.033929 0.000908 0.792833 0.330524 0.032982 0.000115 0.266660 1.579700  
    April 0.023246 0.012276 1.482600 1.664000 1.052078 1.144820 0.811227 1.092300 0.128674 0.034488 0.000928 0.814531 0.331675 0.033422 0.000116 0.266681 1.619670  
    May 0.023099 0.012353 1.428000 1.646600 1.023541 1.173021 0.806647 1.067800 0.128475 0.034640 0.000924 0.809913 0.330579 0.032982 0.000117 0.266688 1.592980  
    June 0.022992 0.012385 1.443500 1.606900 1.030715 1.198610 0.807950 1.068200 0.128465 0.034597 0.000929 0.811227 0.328192 0.032520 0.000116 0.266709 1.597290  
    July 0.023682 0.012863 1.431600 1.635900 1.051525 1.247505 0.828432 1.098600 0.128338 0.034686 0.000951 0.831878 0.339328 0.033647 0.000118 0.266681 1.601480  
    August 0.023526 0.013045 1.444400 1.629700 1.022077 1.219512 0.826173 1.068400 0.128305 0.034465 0.000933 0.829600 0.335458 0.033311 0.000117 0.266674 1.608340  
    September 0.022917 0.013023 1.358400 1.561600 0.965437 1.113834 0.767813 0.977100 0.128348 0.032830 0.000853 0.770772 0.314762 0.032103 0.000113 0.266645 1.567240  
    October 0.023241 0.013168 1.419000 1.610200 1.008268 1.162791 0.802311 1.070900 0.128702 0.033289 0.000904 0.805542 0.322581 0.032765 0.000113 0.266667 1.590920  
    November 0.022826 0.012822 1.331500 1.550000 0.965997 1.083776 0.765345 0.989700 0.128304 0.032841 0.000868 0.768285 0.312989 0.031980 0.000110 0.266674 1.554020  
    December 0.022765 0.012835 1.294000 1.545300 0.976467 1.060895 0.767519 1.009000 0.128649 0.032949 0.000864 0.770475 0.316056 0.031726 0.000110 0.266667 1.542570  
                                         
  2012 January 0.023285 0.013110 1.313800 1.570800 0.998104 1.089799 0.792205 1.059400 0.128932 0.033602 0.000887 0.795355 0.327332 0.032092 0.000111 0.266645 1.547420  
    February 0.023330 0.012433 1.345800 1.590400 1.004924 1.117069 0.796369 1.076500 0.128956 0.033833 0.000888 0.799552 0.332336 0.032971 0.000111 0.266645 1.554780  
    March 0.023256 0.012133 1.330100 1.595400 1.003714 1.103266 0.791703 1.038700 0.128793 0.033841 0.000878 0.794849 0.326158 0.032404 0.000109 0.266660 1.545070  
                                         
                                         
      n.a. - not available                                    
    Source:   Reference Exchange Rate Bulletin, Treasury Department, Bangko Sentral ng Pilipinas