The Indian rupee strengthened on Tuesday, tracking the dollar index's drop to a 1-month low alongside gains in domestic equities. The partially convertible rupee ended at 44.67/68 per dollar, up 0.2 percent from Monday's close of 44.755/765. During the day, the rupee moved in 44.6550-44.8250 range.
The one-month onshore forward premium rose to 26.25 points versus 24 points at Monday's close. The three-month was at 75.50 points against 75.25 at the previous close and the one-year was at 272.75 points versus 276.25. One-month offshore non-deliverable forward contracts were quoted at 44.88, weaker than the onshore spot rate In the currency futures market, the most traded near-month dollar-rupee contracts on the National Stock Exchange and the MCX-SX were each at 44.8575 while the United Stock Exchange contracts were at 44.8525. Total volume was $7.47 billion.
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