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 Jun-99	ended Jun-00	of Rupee
	[1]	[2]	Between [1] & [2]
			Per Cent
Australian dollar	15.5791	16.1827	(3.7)
Belgian franc (100)	68.7923	63.7913	7.8
French franc	4.2457	3.9226	8.2
Deutsche mark	14.2380	13.1558	8.2
Hong Kong dollar	3.2628	3.3419	(2.4)
Indian rupee (100)	59.3840	59.8000	(0.7)
Italian lira (1000)	14.4522	13.2827	8.8
Japanese yen (100)	20.2398	23.8813	(15.2)
Kenya shilling (100)	40.3342	35.1325	14.8
New Zealand dollar	13.2396	12.9592	2.2
Singapore dollar	14.9130	15.3296	(2.7)
South African rand	4.1898	4.1068	2.0
Swiss franc	17.3286	16.1356	7.4
US dollar	24.9645	25.6690	(2.7)
Pound sterling	40.9580	40.8352	0.3
Euro1	27.9846	25.7311	8.8
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 July 1998 to June 1999.
[2] is calculated on the basis of the monthly average exchange rates for the period July 1999 to June 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.