how to read this xml in php ?

- <frbny:DataSet>

- <frbny:Series AVAILABILITY="A" DECIMALS="4" UNIT_MULT="0" TIME_FORMAT="P1D" UNIT="CAD" FX_METHOD="12" DISCLAIMER="12" AUTHORITY="12">

- <frbny:Key>

<frbny:FREQ>D</frbny:FREQ>

<frbny:CURR>USD</frbny:CURR>

<frbny:FX_TIME>12</frbny:FX_TIME>

<frbny:FX_TYPE>S</frbny:FX_TYPE>

</frbny:Key>

- <frbny:Obs OBS_STATUS="A" OBS_CONF="F">

<frbny:TIME_PERIOD>2008-01-17</frbny:TIME_PERIOD>

<frbny:OBS_VALUE>1.0290</frbny:OBS_VALUE>

</frbny:Obs>

</frbny:Series>

</frbny:DataSet>

above xml is response of web services

i have this data how read this in php i want only value of OBS_VALUE .

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