Table 29 : Exchange Rate of the Rupee (Period Average)
Indicative Dec-98 Jan-99 Feb-99 Mar-99 Apr-99 May-99 Jun-99 Jul-99 Aug-99
Selling Rates                  
                   
                   
Australian dollar 15.473 15.795 16.093 15.134 16.248 16.006 16.693 16.786 16.446
Belgian franc(100) 72.392 71.863 69.837 64.659 67.104 63.552 65.343 65.277 66.896
China yuan 3.051 3.055 3.072 2.929 3.089 2.945 - - -
French franc 4.449 4.419 4.294 4.183 4.126 4.100 4.018 4.014 4.113
Deutsche mark 14.925 14.819 14.402 14.028 13.838 13.751 13.475 13.462 13.793
Hongkong dollar 3.258 3.264 3.281 3.297 3.300 3.302 3.310 3.320 3.315
Indian rupee(100) 59.000 59.579 60.000 60.050 59.955 60.000 59.818 59.955 59.818
Italian lira(1000) 15.071 14.954 14.546 14.167 13.970 13.888 13.622 13.586 13.933
Japanese yen(100) 21.281 22.132 21.616 21.145 21.160 20.811 21.062 21.306 22.484
Kenya shilling(100) 40.996 41.002 40.781 39.946 39.035 37.261 35.057 35.284 34.614
New Zealand dollar 13.069 13.487 13.707 13.451 13.739 14.020 13.557 13.439 13.421
Singapore dollar 15.272 15.074 14.956 14.771 14.926 14.961 15.017 15.186 15.334
South African rand 4.293 4.235 4.172 4.117 4.187 4.150 4.224 4.223 4.203
Swiss franc 18.335 18.057 17.615 17.208 16.905 16.782 16.531 16.420 16.833
US dollar 24.917 24.970 25.093 25.218 25.259 25.286 25.375 25.434 25.420
Pound sterling 41.595 41.161 40.876 40.814 40.621 40.796 40.471 40.009 40.805
Euro1 29.316 28.987 28.171 27.439 27.066 26.899 26.360 26.332 26.980
                   
1 Effective 1 January 1999, the Euro (EUR) was introduced replacing its precursor, the ECU, on a one-to-one basis.
Notes:
(i)  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.
(ii)  With effect from 10 June 1999, there are no dealings for the China yuan.