The Indian rupee ended stronger, snapping a two-day losing streak on Monday, underpinned by views a large share offering lined up for this week would spur robust dollar flows. It, however, ended off the day's high as the US unit pared some losses from earlier in the session. The partially convertible rupee ended at 44.72/73 per dollar versus 44.785/795 at last close, after rising to as high as 44.63 during the day.
The one-month onshore forward premium was at 28.25 points versus 25.75 points at previous close. The three-month was at 79 points versus 78 points and the one-year was at 299.25 points compared with 299.00 points. The one-month offshore non-deliverable forward contracts were quoted at 44.98, 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 were at 44.8925, 44.8925 and 44.8875 respectively, with total volume at $8.42 billion.
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