Table 32: Exchange Rate of the Rupee vis-à-vis Major Trading Partner Currencies
Indicative	Average for	Average for	Appreciation/
Selling Rates	12 Months	12 Months	(Depreciation)
	ended Feb-00	ended Feb-01	of Rupee
	[1]	[2]	between [1] & [2]
			(Per Cent)
Australian dollar	16.3739	15.2109	7.6
Belgian franc (100)	65.8605	60.6347	8.6
French franc	4.0499	3.7275	8.6
Deutsche mark	13.5823	12.5015	8.6
Hong Kong dollar	3.3185	3.4765	(4.5)
Indian rupee (100)	59.7835	60.1053	(0.5)
Italian lira (1000)	13.7183	12.6271	8.6
Japanese yen (100)	22.7584	24.6149	(7.5)
Kenya shilling (100)	35.9301	35.3700	1.6
New Zealand dollar	13.3526	11.9993	11.3
Singapore dollar	15.2115	15.6478	(2.8)
South African rand	4.2005	3.7841	11.0
Swiss franc	16.5824	15.8209	4.8
US dollar	25.4473	26.7854	(5.0)
Pound sterling	41.0501	39.9128	2.8
Euro1	26.5660	24.4510	8.6
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 March 1999 to February 2000.
[2] is calculated on the basis of the monthly average exchange rates for the period March 2000 to February 2001.
(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.