| Table 26 : Transactions on the Interbank Foreign Exchange Market | |||||||||||
| Weekly | Purchase of | Purchase of | Total Purchases | Opening | |||||||
| Position | US$ against | US$ against | US$ | Rupee | Interbank | ||||||
| (Transaction | Rupee | Other Foreign | Equivalent | Equivalent | Min-Max | ||||||
| days only) | Currencies | Ask Rate* | |||||||||
| (US$ million) | (US$ million) | (US$ million) | (Rs million) | (Rs/US$) | |||||||
| May 1999 | |||||||||||
| Week I | 0.50 | 0.10 | 0.60 | 15.09 | 25.0550 - 25.0950 | ||||||
| Week II | 0.00 | 0.18 | 0.18 | 4.50 | 25.0600 - 25.0825 | ||||||
| Week III | 0.00 | 0.39 | 0.39 | 9.75 | 25.0700 - 25.1000 | ||||||
| Week IV | 0.08 | 1.11 | 1.19 | 29.88 | 25.1000 - 25.1725 | ||||||
| Week V | 0.00 | 0.02 | 0.02 | 0.44 | 25.1650 | ||||||
| Sep-98 | 0.40 | 2.80 | 3.60 | 88.90 | 24.3200 - 24.5000 | ||||||
| Oct-98 | 0.20 | 3.40 | 4.10 | 100.10 | 24.4225 - 24.8000 | ||||||
| Nov-98 | 1.00 | 6.40 | 7.90 | 192.50 | 24.7400 - 24.8500 | ||||||
| Dec-98 | 7.10 | 5.40 | 12.80 | 315.90 | 24.6475 - 24.7800 | ||||||
| Jan-99 | 2.20 | 4.00 | 6.20 | 154.60 | 24.6150 - 24.8650 | ||||||
| Feb-99 | 6.70 | 2.60 | 9.90 | 247.90 | 24.8625 - 24.9650 | ||||||
| Mar-99 | 2.20 | 4.80 | 6.90 | 174.90 | 24.9650 - 25.0350 | ||||||
| Apr-99 | 0.15 | 3.17 | 3.32 | 82.60 | 25.0225 - 25.0900 | ||||||
| May-99 | 0.58 | 1.80 | 2.38 | 59.66 | 25.0550 - 25.1725 | ||||||
| *: With effect from 1-Oct-98, the Rs/US$ ask rate is based on the average of daily Rs/US$ ask rates of four major commercial banks. | |||||||||||