Table 30 : Exchange Rate Movements of the Rupee vis-à-vis Major Trading Partner Currencies

Table 30 : 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 June-98 ended June-99 of Rupee    
  [1] [2] Between [1] & [2]    
  Rupees Rupees Per Cent    
           
Australian dollar 15.5045 15.5791 (0.5)    
Belgian franc (100) 62.0522 68.7923 (9.8)    
French franc 3.7560 4.2457 (11.5)    
Deutsche mark 12.6044 14.2380 (11.5)    
Hong Kong dollar 2.9612 3.2628 (9.2)    
Indian rupee (100) 60.0326 59.3480 1.2    
Italian lira (1000) 13.0403 14.4522 (9.8)    
Japanese yen (100) 18.0014 20.2398 (11.1)    
Kenya shilling (100) 37.1457 40.3342 (7.9)    
New Zealand dollar 13.5389 13.2396 2.3    
Singapore dollar 14.4217 14.9130 (3.3)    
South African rand 4.7118 4.1898 12.5    
Swiss franc 15.3514 17.3286 (11.4)    
US dollar 22.6350 24.9645 (9.3)    
Pound sterling 37.2322 40.9580 (9.1)    
Euro* 24.9987 27.9846 (10.7)    
           
*: 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 July 1997 to June 1998.          
[2] is calculated on the basis of the monthly average exchange rates for the period July 1998 to June 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) With effect from 10 June 1999, there are no dealings for the China yuan.          
(v) 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 7/14/99
By bom