The Indian rupee ended stronger on Monday supported by the euro's gains against the dollar, but surging oil prices put a lid on further appreciation and choppy domestic shares provided little direction. The partially convertible rupee closed at 45.0050/0150 per dollar, 0.3 percent stronger than Friday's close of 45.13/14. It traded in a range of 45.000-45.0900 intraday.
The one-month onshore forward premium was at 31.50 points, lower than Friday's close of 33.50, while the three-month premium was at 82.25 points versus its previous close of 83.50 and the one-year was stable at 288.50. The one-month offshore non-deliverable forward contracts were quoted at 45.30, 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 were at 45.0950, 45.0850 and 45.0925 respectively, with the total traded volume at about $6.4 billion.
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