The rupee weakened on Friday, making it the fourth straight week of losses for the Indian unit, as traders avoided the market fray before US Federal Reserve chief Ben Bernanke airs his thoughts in a speech later in the day. The partially convertible rupee ended at 46.145/155 to a dollar, 0.2 percent weaker from Thursday's close of 46.04/05 when it had touched its lowest in more than 11 months, at 46.2150.
Intraday, the rupee had swung in a band of 45.98 to 46.1775. The one-month onshore forward premium was at 10 points from 9 points on Thursday, the three-month was at 41.50 points from 37 points and the one-year stood at 139 points, from 132.75. The one-month offshore non-deliverable forward contracts were quoted at 46.29, 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 ended at 46.2675, 46.2750 and 46.2800, respectively. The total volume was at $7.12 billion.
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