The Indian rupee fell for the fifth straight session on Friday, after touching a new one-year low earlier , as the euro weakened against the dollar, and persistent demand for the greenback from oil refiners and negative local shares also weighed. The partially convertible rupee ended at 46.56/57, 0.8 percent weaker than Thursday's close of 46.19/20. It had touched 46.5850 during the day, a level last seen on September 9, 2010.
The one-month onshore forward premium was steady at 19 points, while the three-month was at 49 points from 49.50 on Thursday and the one-year was at 139.25 points from 147.50 points. One-month offshore non-deliverable forward contracts were quoted at 46.80, 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 at 46.7050, while those on the United Stock Exchange were at 46.7000. The total volume was $7.7 billion.
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