The Indian rupee retreated from a one-month high on Friday as domestic shares gave up early gains to close sharply lower, while a reversal in the dollar's losses versus majors in late trade also hurt. The partially convertible rupee closed at 45.1950/2050 per dollar, after touching 45.1650 - its strongest since January 14, and 0.3 percent above its 45.34/35 close on Thursday.
On the week, the rupee rose 1.1 percent, its best weekly rise since the December 5 week, when it had gained 1.6 percent. One-month offshore non-deliverable forward contracts were quoted at 45.42, 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 closed at 45.2375, 45.2425 and 45.2450 respectively, with the total traded volume at about $5.8 billion.
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