Table 30 : Exchange Rate Movements of the Rupee vis-à-vis Major Trading Partner Currencies |
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Indicative |
Average for |
Average for |
Appreciation/ |
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Selling Rates |
12 Months |
12 Months |
(Depreciation) |
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ended June-98 |
ended June-99 |
of Rupee |
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[1] |
[2] |
Between [1] & [2] |
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Rupees |
Rupees |
Per Cent |
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Australian dollar |
15.5045 |
15.5791 |
(0.5) |
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Belgian franc (100) |
62.0522 |
68.7923 |
(9.8) |
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French franc |
3.7560 |
4.2457 |
(11.5) |
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Deutsche mark |
12.6044 |
14.2380 |
(11.5) |
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Hong Kong dollar |
2.9612 |
3.2628 |
(9.2) |
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Indian rupee (100) |
60.0326 |
59.3480 |
1.2 |
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Italian lira (1000) |
13.0403 |
14.4522 |
(9.8) |
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Japanese yen (100) |
18.0014 |
20.2398 |
(11.1) |
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Kenya shilling (100) |
37.1457 |
40.3342 |
(7.9) |
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New Zealand dollar |
13.5389 |
13.2396 |
2.3 |
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Singapore dollar |
14.4217 |
14.9130 |
(3.3) |
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South African rand |
4.7118 |
4.1898 |
12.5 |
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Swiss franc |
15.3514 |
17.3286 |
(11.4) |
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US dollar |
22.6350 |
24.9645 |
(9.3) |
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Pound sterling |
37.2322 |
40.9580 |
(9.1) |
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Euro* |
24.9987 |
27.9846 |
(10.7) |
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*: Effective 1 January 1999, the Euro (EUR) was introduced replacing its precursor, the ECU, on a one-to-one basis. |
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Notes: |
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(I) With effect from 8 September 1998, there are no dealings for the Malaysian ringgit on account of its withdrawal from |
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the international financial system. |
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(ii) [1] is calculated on the basis of the monthly average exchange rates for the period July 1997 to June 1998. |
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[2] is calculated on the basis of the monthly average exchange rates for the period July 1998 to June 1999. |
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(iii) With effect from October 1998, the daily average exchange rate of the Rupee is based on the average selling rates |
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for T.T.& D.D. of all commercial banks. |
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(iv) With effect from 10 June 1999, there are no dealings for the China yuan. |
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(v) The appreciation/depreciation of the exchange rate of the Rupee is calculated as follows: |
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(Previous period exchange rate - Current period exchange rate) ÷ Current period exchange rate |
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