Table 31 : Exchange Rate Movements of the Rupee vis-à-vis Major Trading Partner Currencies
Indicative Average for Average for Appreciation/
Selling Rates 12 Months 12 Months (Depreciation)
  ended April-99 ended April-00 of Rupee
  [1] [2]  Between [1] & [2]
      Per Cent
       
Australian dollar 15.3298 16.3586 (6.3)
Belgian franc (100) 69.1479 64.5565 7.1
French franc 4.2411 3.9857 6.4
Deutsche mark 14.2222 13.3668 6.4
Hong Kong dollar 3.2369 3.3276 (2.7)
Indian rupee (100) 59.2490 59.7835 (0.9)
Italian lira (1000) 14.4795 13.5018 7.2
Japanese yen (100) 19.6671 23.2915 (15.6)
Kenya shilling (100) 40.9830 35.4139 15.7
New Zealand dollar 13.0513 13.2133 (1.2)
Singapore dollar 14.8591 15.2787 (2.7)
South African rand 4.2739 4.1750 2.4
Swiss franc 17.2553 16.3270 5.7
US dollar 24.7597 25.5395 (3.1)
Pound sterling 40.7884 41.0587 (0.7)
Euro1 28.0129 26.1443 7.1
       
1 Effective 1 January 1999, the Euro (EUR) was introduced replacing its precursor, the ECU, on a one-to-one basis.
Notes:
(i)  [1] is calculated on the basis of the monthly average exchange rates for the period May 1998 to April 1999.
     [2] is calculated on the basis of the monthly average exchange rates for the period May 1999 to April 2000.
(ii)  With effect from October 1998, the daily average exchange rate of the Rupee is based on the average selling rates
      for T.T.& D.D. of all commercial banks.
(iii)  The appreciation/depreciation of the Rupee is calculated as follows:
      (Previous period exchange rate - Current period exchange rate) ÷ Current period exchange rate.