The Indian rupee slid to a five-week low on Thursday, driven by negative local shares, a pullback in the euro and weakness in most Asian currencies. The partially convertible rupee ended at 44.76/77 per dollar, a level not seen since March 30 and 0.7 percent weaker from Wednesday's close of 44.465/475.
The one-month onshore forward premium was at 25.25 points versus 26.50 points at its previous close. The three-month was at 78.50 points from 82.75 points and the one-year was at 305.25 points compared with 322.25 points. The one-month offshore non-deliverable forward contracts were quoted at 45.05, 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 MCX-SX and the United Stock Exchange were 44.9700, 44.9750, 44.9650 respectively, with total volume at $9.56 billion.
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