The Indian rupee ended lower on Thursday weighed by weak local shares, high oil prices and strong dollar overseas, but some dollar inflows from overseas borrowing by corporates aided. The partially convertible rupee closed at 45.18/19 per dollar, weaker than its 45.00/01 close on Wednesday. The one-month onshore forward premium was at 28.25 points against 26 points on Wednesday, and the one-year premium was at 279.00 points from the previous 278.25 points.
The one-month offshore non-deliverable forward contracts were quoted at 45.47, weaker than the onshore spot rate. In the currency futures market, the most traded near-month dollar-rupee contracts on the National Stock Exchange, the MCX-SX and the United Stock Exchange closed at 45.3275, 45.3300 and 45.3275, with the total traded volume at about $6.17 billion.
Comments
Comments are closed for this article.