The Indian rupee recovered most of its lost ground on Monday after falling to near three-week lows earlier in the day, on some likely dollar inflows from a large corporate and as local stocks turned positive. The partially convertible rupee ended at 45.47/48 per dollar after falling to 45.66 per dollar, its lowest since December 1. It had ended at 45.34/35 per dollar on Thursday. The market was shut on Friday for a local holiday.
The index of the dollar against six major currencies was up 0.05 percent at 80.415 points at close of local markets. One-month offshore non-deliverable forward contracts ended at 45.78, weaker compared to the onshore spot rate. In the currency futures market, the most traded near-month dollar-rupee contracts on the National Stock Exchange, MCX-SX and United Stock exchange closed at 45.55, 45.5625 and 45.5425 respectively with the total traded volume on the three exchanges at about $5.4 billion.
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