Table 29: Exchange Rate of the Rupee (Period Average)

Indicative

Jul-98

Aug-98

Sep-98

Oct-98

Nov-98

Dec-98

Jan-99

Feb-99

Mar-99

Selling Rates

Australian dollar

15.177

14.623

14.531

15.351

15.888

15.473

15.795

16.093

15.134

Belgian franc(100)

66.922

67.730

70.991

73.385

72.120

72.392

71.863

69.837

64.659

China yuan

2.996

3.014

3.011

3.032

3.064

3.051

3.055

3.072

2.929

French franc

4.055

4.104

4.300

4.505

4.434

4.449

4.419

4.294

4.183

Deutsche mark

13.593

13.757

14.421

15.107

14.870

14.925

14.819

14.402

14.028

Hongkong dollar

3.201

3.220

3.218

3.241

3.268

3.258

3.264

3.281

3.297

Indian rupee(100)

58.130

58.350

58.818

59.333

59.810

59.000

59.579

60.000

60.050

Italian lira(1000)

13.999

14.157

14.818

15.298

15.033

15.071

14.954

14.546

14.167

Japanese yen(100)

17.466

17.077

18.351

20.504

20.831

21.281

22.132

21.616

21.145

Kenya shilling(100)

41.883

42.154

41.669

42.009

42.507

40.996

41.002

40.781

39.946

New Zealand dollar

12.738

12.425

12.461

12.979

13.380

13.069

13.487

13.707

13.451

Singapore dollar

14.546

14.240

14.451

15.317

15.445

15.272

15.074

14.956

14.771

South African rand

4.000

3.971

4.089

4.345

4.499

4.293

4.235

4.172

4.117

Swiss franc

16.145

16.455

17.515

18.525

18.061

18.335

18.057

17.615

17.208

US dollar

24.489

24.628

24.614

24.791

24.984

24.917

24.970

25.093

25.218

Pound sterling

40.242

40.186

41.310

41.953

41.494

41.595

41.161

40.876

40.814

Euro*

26.993

27.258

28.504

29.764

29.256

29.316

28.987

28.171

27.439

*: 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) 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.