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 Mar-00	ended Mar-01	of Rupee
	[1]	[2]	Between [1] & [2]
			Per Cent
Australian dollar	16.4167	15.0875	8.8
Belgian franc (100)	65.3344	60.8003	7.5
French franc	4.0169	3.7377	7.5
Deutsche mark	13.4715	12.5360	7.5
Hong Kong dollar	3.3234	3.5039	(5.2)
Indian rupee (100)	59.7821	60.2705	(0.8)
Italian lira (1000)	13.6067	12.6620	7.5
Japanese yen (100)	23.0176	24.5549	(6.3)
Kenya shilling (100)	35.7390	35.3158	1.2
New Zealand dollar	13.2861	11.9274	11.4
Singapore dollar	15.2474	15.7310	(3.1)
South African rand	4.1934	3.7471	11.9
Swiss franc	16.4384	15.9295	3.2
US dollar	25.4960	27.0048	(5.6)
Pound sterling	41.0399	39.9207	2.8
Euro1	26.3494	24.5185	7.5
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 April 1999 to March 2000.
[2] is calculated on the basis of the monthly average exchange rates for the period April 2000 to March 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.