The Indian rupee posted its biggest single session rise in ten months on Wednesday, propelled by gains in domestic equities and the euro, with dollar inflows also helping. The partially convertible rupee ended at 48.95/96 per dollar, 0.8 stronger than Tuesday's close of 49.335/345, and its biggest single day rise since December 1, 2010.
The one-month onshore forward premium on the rupee was at 19.25 points from 20.25 on Tuesday, the three-month premium was 57 points from 54.50 and the one-year premium was 120 points, from 114.50. The one-month offshore non-deliverable forward contracts were quoted at 49.195, weaker than the spot rupee rate.
In the currency futures market, the most traded near-month dollar-rupee contracts on the National Stock Exchange ended at 49.0725 and those on the United Stock Exchange and the MCX-SX closed at 49.0750 respectively. The total traded volume on the three exchanges was $5.98 billion.
Comments
Comments are closed for this article.