The Indian rupee ended weaker on Thursday, but recouped from intra-day lows on losses in the dollar overseas and on hopes the central bank would nudge key rates up again, luring foreign funds into the country. The partially convertible rupee ended at 45.18/19 per dollar against its 45.11/12 close on Wednesday. Intraday, it moved in the 45.12-45.27 range.
The one-month onshore forward premium was at 30.25 points, down from 32.50 on Wednesday, the three-month premium at 82.50 versus 88.00 and the one-year lower at 284.50 from 288.00. The one-month offshore non-deliverable forward contracts were quoted at 45.50, weaker than 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 the United Stock Exchange were all at 45.2900, with the total traded volume at about $7.85 billion.
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