The Indian rupee strengthened on Tuesday, recovering from a one-week low touched in the previous session, aided by strong euro and Asian peers, but choppy local shares and dollar demand from oil refiners capped the gains. The partially convertible rupee ended at 44.73/74 per dollar, 0.3 percent stronger from Monday's close of 44.86/87.
The one-month onshore forward premium was at 26.50 points versus 24 points at last close. The three-month was at 76.50 points from 74.25 points at previous close and the one-year was at 269.50 points versus 258.00 points. One-month offshore non-deliverable forward contracts were quoted at 44.95, 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 both at 44.8650 and on the United Stock Exchange were at 44.8625, with total volume at $8.50 billion.
Comments
Comments are closed for this article.