The Indian rupee weakened on Friday tracking losses in local shares as well as Asian currencies, with broad dollar strength also weighing. The partially convertible rupee closed the week at 45.2400/2500 per dollar, 0.1 percent weaker than its 45.1800/1900 close on Thursday. It moved in a 45.1600-45.2925 range intraday.
The one-month onshore forward premium was up at 28.75 points against 28.25 points on Thursday while the three-month premium was slightly lower at 79.50 points versus its previous close at 80.00 points. The one-year premium was down at 277.00 points versus 279.00 points on Thursday.
The one-month offshore non-deliverable forward contracts were quoted at 45.56, weaker than the onshore spot rate. In the currency futures market, the most traded near-month dollar-rupee contracts on the National Stock Exchange ended at 45.4075, on the MCX-SX at 45.4100, and on the United Stock Exchange at 45.4150, with the total traded volume at about $8.77 billion.
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