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 January-99	ended January-00	of Rupee
	[1]	[2]	Between [1] & [2]
			Per Cent
Australian dollar	15.2830	16.3654	(6.6)
Belgian franc (100)	68.2605	65.8544	3.7
French franc	4.1555	4.0822	1.8
Deutsche mark	13.9336	13.6906	1.8
Hong Kong dollar	3.1825	3.3132	(3.9)
Indian rupee (100)	59.3040	59.7800	(0.8)
Italian lira (1000)	14.2476	13.8277	3.0
Japanese yen (100)	18.9368	22.6092	(16.2)
Kenya shilling (100)	40.9417	36.2782	12.9
New Zealand dollar	12.9876	13.4315	(3.3)
Singapore dollar	14.8016	15.1836	(2.5)
South African rand	4.4185	4.2041	5.1
Swiss franc	16.8990	16.7234	1.1
US dollar	24.3407	25.3980	(4.2)
Pound sterling	40.3360	41.0230	(1.7)
Euro1	27.5541	26.7781	2.9
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 February 1998 to January 1999.
[2] is calculated on the basis of the monthly average exchange rates for the period February 1999 to January 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.