The Indian rupee ended a tad lower on Friday after moving in a tight band, as the dollar's gains overseas and importers' demand for the greenback offset positive local shares. The partially convertible rupee ended at 45.0100/0200 per dollar, marginally weaker than Thursday's close of 44.97/98. It traded in a narrow range of 44.8875-45.0225 during the day.
The one-month onshore forward premium was at 22.50 points from the previous 23.50. The one-month offshore non-deliverable forward contracts were quoted at 45.16, 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 United Stock Exchange were at 45.0725, 45.0725 and 45.0900, respectively, with the total volume at $7.18 billion.
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