Table 31: 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 Oct-99	ended Oct-00	of Rupee
	[1]	[2]	Between [1] & [2]
			(Per Cent)
Australian dollar	16.1565	15.6530	3.2
Belgian franc (100)	67.6848	61.2630	10.5
French franc	4.1944	3.7660	11.4
Deutsche mark	14.0669	12.5911	11.7
Hong Kong dollar	3.2964	3.3842	(2.6)
Indian rupee (100)	59.6600	59.7738	(0.2)
Italian lira (1000)	14.2073	12.7511	11.4
Japanese yen (100)	21.8025	24.4897	(11.0)
Kenya shilling (100)	37.7927	35.1972	7.4
New Zealand dollar	13.4737	12.3512	9.1
Singapore dollar	15.1301	15.3975	(1.7)
South African rand	4.2338	3.9593	6.9
Swiss franc	17.1904	15.7030	9.5
US dollar	25.2421	26.0388	(3.1)
Pound sterling	40.9985	40.1878	2.0
Euro1	27.5399	24.7036	11.5
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 November 1998 to October 1999.
[2] is calculated on the basis of the monthly average exchange rates for the period November 1999 to October 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.