Sheet1

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 May-98 ended May-99 of Rupee      
  [1] [2] Between [1] & [2]      
  Rupees Rupees Per Cent      
             
Australian dollar 15.5930 15.4003 1.3      
Belgian franc (100) 61.4491 68.8969 (10.8)      
China yuan 2.7324 3.0180 (9.5)      
French franc 3.7177 4.2467 (12.5)      
Deutsche mark 12.4828 14.2410 (12.3)      
Hong Kong dollar 2.9236 3.2505 (10.1)      
Indian rupee (100) 60.0968 59.2320 1.5      
Italian lira (1000) 12.9199 14.4769 (10.8)      
Japanese yen (100) 18.0795 19.9101 (9.2)      
Kenya shilling (100) 37.0429 40.8275 (9.3)      
New Zealand dollar 13.6989 13.1412 4.2      
Singapore dollar 14.4476 14.8683 (2.8)      
South African rand 4.7187 4.2234 11.7      
Swiss franc 15.2015 17.3000 (12.1)      
US dollar 22.3464 24.8657 (10.1)      
Pound sterling 36.7497 40.9125 (10.2)      
Euro* 24.7352 28.0234 (11.7)      
             
*: 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 June 1997 to May 1998.            
[2] is calculated on the basis of the monthly average exchange rates for the period June 1998 to May 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) 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 6/15/99
By bom