The Indian rupee touched its weakest in a year on Thursday, falling for the fourth straight day, as strong dollar demand from domestic oil firms offset gains in domestic equities and kept the local unit in a tight range. The partially convertible rupee ended at 46.19/20 to a dollar, 0.04 percent lower than Wednesday's close of 46.1670/1750 after dipping to 46.2750 - a level not seen since September 16, 2010. Intraday, the unit had moved in a band of 46.1450-46.2750.
The one-month onshore forward premium was at 18.75 points from 12.75 on Wednesday, the three-month at 49.75 points from 39.25 and the one-year at 147 points from 132. The one-month offshore non-deliverable forward contracts were quoted at 46.43, 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 United Stock Exchange both ended at 46.3300, while on the MCX-SX at 46.3350. The total volume was at $5.2 billion.
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