The Indian rupee pulled back from the day's low on Monday buoyed by dollar sales from some local companies, although weakness in local equities on signs of cooling domestic growth weighed. The rupee closed at 52.88/90 to the dollar, 0.3 percent weaker from its 52.70/72 close on Friday, after moving in a wide 52.72-53.25 band during the day.
The one-month onshore forward dollar premium was at 37.5 points, up from 32.5 on Friday and the three-month premium was at 98 points, up from 89. The one-year premium was at 267.25 points, higher from 245.75 points. 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 ended at 53.0600, 53.0650 and 53.0475 respectively. Total volume was at $4.99 billion.
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