Table 31: Exchange Rate of the Rupee vis-à-vis Major Trading Partner Currencies
Indicative	Average for	Average for	Appreciation/
Selling Rates	12 Months	12 Months	(Depreciation)
	ended Dec-99	ended Dec-00	of Rupee
	[1]	[2]	Between [1] & [2]
			Per Cent
Australian dollar	16.2814	15.402	5.7
Belgian franc (100)	66.4068	60.497	9.8
French franc	4.1162	3.719	10.7
Deutsche mark	13.8044	12.473	10.7
Hong Kong dollar	3.3077	3.431	(3.6)
Indian rupee (100)	59.7480	59.888	(0.2)
Italian lira (1000)	13.9415	12.591	10.7
Japanese yen (100)	22.4324	24.585	(8.8)
Kenya shilling (100)	36.6078	35.358	3.5
New Zealand dollar	13.4516	12.092	11.2
Singapore dollar	15.1502	15.510	(2.3)
South African rand	4.2033	3.869	8.6
Swiss franc	16.8661	15.656	7.7
US dollar	25.3470	26.418	(4.1)
Pound sterling	40.958	39.991	2.4
Euro1	27.001	24.396	10.7
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 January 1999 to December 1999.
[2] is calculated on the basis of the monthly average exchange rates for the period January 2000 to December 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.