The Indian rupee ended stronger on Monday on the back of robust local shares, a weak dollar overseas and lower oil prices, and traders expect dollar inflows to support the local unit in the near term. The partially convertible rupee ended at 45.06/07, against Friday's close of 45.24/25. It had moved in a range of 45.05-45.23 during the day.
The one-month onshore forward premium was at 30.75 points, higher than Friday's close of 28.75 points, while the three-month premium rose to 81.25, from 79.50 points. The one-year premium was at 280.00, higher than 277.00 on Friday. The one-month offshore non-deliverable forward contracts were quoted at 45.32, weaker than the onshore spot rate.
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