Foreign

1998

1999

1998

1999

Currency

Dec. 31

Dec. 27

Dec. 28

Dec. 29

Dec. 30

Dec. 31

Dec. 31

Dec. 27

Dec. 28

Dec. 29

Dec. 30

Dec. 31

1

2

3

4

5

6

7

8

9

10

11

12

13

14

RBI's Reference Rate (Rs. per U.S. Dollar)

Foreign Currency per Rs. 100@

42.4800

43.5000

43.5000

43.5300

43.5200

43.4900

(Based on Middle Rates)

FEDAI Indicative Rates (Rs. per Foreign Currency)

U.S.

{ Buying

42.4850

43.5000

43.4950

43.5250

43.5150

43.5000

2.3540

2.2989

2.2989

2.2973

2.2978

2.2994

Dollar

Selling

42.4950

43.5100

43.5050

43.5350

43.5250

43.5100

Pound

{ Buying

70.6875

70.3400

70.2650

70.3800

70.4425

70.2525

1.4144

1.4212

1.4226

1.4203

1.4190

1.4233

Sterling

Selling

70.7450

70.4000

70.3250

70.4175

70.5025

70.3125

Euro

{ Buying

50.4400

$ 44.0950

44.0525

43.8725

43.7925

43.8225

1.9798 $

2.2667

2.2687

2.2778

2.2824

2.2814

Selling

50.5800

$ 44.1375

44.0825

43.9275

43.8200

43.8525

100 Yen

{ Buying

37.4475

42.3350

42.4725

42.5250

42.5875

42.4550

266.89

236.09

235.35

235.07

234.67

235.48

Selling

37.5075

42.3875

42.5025

42.5550

42.6375

42.5075

Inter-Bank Forward Premia of U.S. Dollar (per cent per annum)

1-month

4.80

3.31

3.31

2.62

3.31

3.04

3-month

5.65

3.86

3.77

3.68

3.77

3.68

6-month

7.11

4.05

4.00

3.95

4.04

4.00

@

: These rates are based on RBI Reference rate for US dollar and middle rates of cross-currency quotes. These rates are announced by RBI with effect from January 29, 1998.

$

: These rates are as on January 4, 1999.

Note: 1.

The unified exchange rate system came into force on March 1, 1993.

2.

With the introduction of Euro effective January 1, 1999, the buying and selling rates of Rupees per Deutsche Mark (FEDAI indicative rates)

and Deutsche Mark per Rs. 100 (middle rates) have been replaced by Rupees per Euro and Euro per Rs. 100, respectively.

3.

.