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 March-99	ended March-00	of Rupee
	[1]	[2]	Between [1] & [2]
			Per Cent
Australian dollar	15.2779	16.4167	(6.9)
Belgian franc (100)	68.9460	65.0685	6.0
French franc	4.2233	4.0169	5.1
Deutsche mark	14.1621	13.4715	5.1
Hong Kong dollar	3.2217	3.3234	(3.1)
Indian rupee (100)	59.3534	54.4661	9.0
Italian lira (1000)	14.4399	13.6069	6.1
Japanese yen (100)	19.4063	23.0176	(15.7)
Kenya shilling (100)	41.1364	35.7390	15.1
New Zealand dollar	13.0104	13.2861	(2.1)
Singapore dollar	14.8783	15.2474	(2.4)
South African rand	4.3286	4.1934	3.2
Swiss franc	17.1629	16.4384	4.4
US dollar	24.6420	25.4960	(3.3)
Pound sterling	40.7319	41.0399	(0.8)
Euro1	27.9370	26.3494	6.0
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 April 1998 to March 1999.
[2] is calculated on the basis of the monthly average exchange rates for the period April 1999 to March 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.