The Indian rupee ended weak, after touching a 30-month low on Friday, tracking a fall in domestic equities, and as sentiment remained cautious, with investors awaiting a plan from European leaders to resolve the region's debt crisis. Dollar demand from oil and gold importers added to the selling pressure on the rupee.
The partially convertible rupee ended at 50.02/03 per dollar, 0.5 percent weaker than Thursday's close of 49.79/80. The one-month onshore forward premium on the rupee was at 26.5 points from 25.25 on Thursday, the three-month premium was 64.5 points from 61.75 and the one-year premium was 143.5 points, from 143.25. The one-month offshore non-deliverable forward contracts were quoted at 50.41, weaker than the spot rupee 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 50.0800, 50.0850 and 50.0825, respectively. The total traded volume on the three exchanges was $7.25 billion.
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