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.