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 Sep-99	ended Sep-00	of Rupee
	[1]	[2]	Between [1] & [2]
			Per Cent
Australian dollar	16.0486	15.8495	1.3
Belgian franc (100)	68.1670	62.1306	9.7
French franc	4.2234	3.8195	10.6
Deutsche mark	14.1642	12.8103	10.6
Hong Kong dollar	3.2900	3.3698	(2.4)
Indian rupee (100)	59.6880	59.7460	(0.1)
Italian lira (1000)	14.3088	12.9325	10.6
Japanese yen (100)	21.5035	24.4188	(11.9)
Kenya shilling (100)	38.4531	35.1728	9.3
New Zealand dollar	13.4601	12.5437	7.3
Singapore dollar	15.1253	15.3820	(1.7)
South African rand	4.2434	4.0070	5.9
Swiss franc	17.3085	15.8588	9.1
US dollar	25.1872	25.9145	(2.8)
Pound sterling	40.9821	40.4396	1.3
Euro1	27.7486	25.0548	10.8
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 October 1998 to September 1999.
[2] is calculated on the basis of the monthly average exchange rates for the period October 1999 to September 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.