Table 32: 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 Jan-00	ended Jan-01	of Rupee
	[1]	[2]	Between [1] & [2]
			Per Cent
Australian dollar	16.3654	15.3061	6.9
Belgian franc (100)	66.3864	60.5671	9.6
French franc	4.0822	3.7233	9.6
Deutsche mark	13.6906	12.4877	9.6
Hong Kong dollar	3.3132	3.4542	(4.1)
Indian rupee (100)	59.7800	59.9761	(0.3)
Italian lira (1000)	13.8197	12.6055	9.6
Japanese yen (100)	22.6092	24.5516	(7.9)
Kenya shilling (100)	36.2782	35.3224	2.7
New Zealand dollar	13.4315	12.0388	11.6
Singapore dollar	15.1836	15.5747	(2.5)
South African rand	4.2041	3.8229	10.0
Swiss franc	16.7234	15.7408	6.2
US dollar	25.3980	26.6049	(4.5)
Pound sterling	41.0228	39.9535	2.7
Euro1	26.7781	24.4239	9.6
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 1999 to January 2000.
[2] is calculated on the basis of the monthly average exchange rates for the period February 2000 to January 2001.
(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.