The Indian rupee touched a fresh two-and-a-half month high on Friday on robust dollar inflows from corporate borrowings ahead of the fiscal year-end on March 31, with strong local shares also supporting. The partially convertible rupee ended at 44.6650/6750 per dollar, 0.2 percent stronger than its previous close of 44.745/750. It strengthened as much as 44.6150 during the day, its strongest since January 4.
The one-month onshore forward premium was at 31.25 points, higher than its previous close of 31.00, while the three-month premium was at 85.50 points versus 85.25 and the one-year was at 299.25 points from 297.00. The one-month offshore non-deliverable forward contracts were quoted 44.91, 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 44.6950, 45.6850 and 44.6850, with the total volume at about $7.8 billion.
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