The Indian rupee was little changed on Friday as the negative impact of weak local shares and a volatile euro was offset by robust corporate dollar inflows, but importer dollar demand capped gains. The partially convertible rupee ended at 44.72/73 per dollar versus Thursday's close of 44.73/74. Intraday, the local currency moved in 44.6650-44.7625 range.
The one-month onshore forward premium was at 25.00 points versus 24.50 points on Thursday. The three-month was at 76.50 points versus 75.50 points while the one-year was at 264.25 points from 254.50 previously. One-month offshore non-deliverable forward contracts were quoted at 44.93, weaker than the onshore spot rate. In the currency futures market, the most traded near-month dollar-rupee contracts on the National Stock Exchange and the MCX-SX were both at 44.8475 and on the United Stock Exchange at 44.8500, with the total volume at $7.01 billion.
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