Exchange Rate Movements of the Rupee vis-à-vis Major Trading Partner Currencies

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 Jan-98 ended Jan-99 of Rupee  
  [1] [2] Between [1] & [2]  
  Rupees Rupees Per Cent  
         
Australian dollar 15.723 15.283 2.9  
Belgian franc (100) 59.963 68.261 (12.2)  
China yuan 2.613 2.979 (12.3)  
French franc 3.622 4.156 (12.8)  
Deutsche mark 12.185 13.934 (12.6)  
Hong Kong dollar 2.797 3.182 (12.1)  
Indian rupee (100) 59.253 59.304 (0.1)  
Italian lira (1000) 12.590 14.248 (11.6)  
Japanese yen (100) 17.627 18.937 (6.9)  
Kenya shilling (100) 36.486 40.942 (10.9)  
New Zealand dollar 13.981 12.988 7.6  
Singapore dollar 14.376 14.802 (2.9)  
South African rand 4.684 4.419 6.0  
Swiss franc 14.650 16.899 (13.3)  
US dollar 21.382 24.341 (12.2)  
Pound sterling 34.969 40.336 (13.3)  
Euro* 24.021 27.554 (12.8)  
         
         
*: 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 8 September 1998, there are no dealings for the Malaysian ringgit on account of its withdrawal from        
the international financial system.        
(ii) [1] is calculated on the basis of the monthly average exchange rates for the period February 1997 to January 1998.        
[2] is calculated on the basis of the monthly average exchange rates for the period February 1998 to January 1999.        
(iii) 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.        
(iv) The appreciation/depreciation of the exchange rate of the Rupee is calculated as follows:        
(Previous period exchange rate - Current period exchange rate) ÷ Current period exchange rate        
         

Last Updated on 22/02/99
By B.O.M