The Indian rupee rose on Wednesday, helped by a strong euro, hopes of robust dollar inflows towards a share sale, and as firm global stocks pulled up domestic equities. The partially convertible rupee ended at 44.69/70 per dollar, stronger than Tuesday's close of 44.74/75. Intraday, the rupee had moved in 44.6425-44.7200 band.
The one-month onshore forward premium was at 25.75 points versus 27.00 points last close. The three-month was at 81.50 points versus 79.00 points previously and the one-year was at 304 points compared with 300.50 points. The one-month offshore non-deliverable forward contracts were quoted at 44.9, 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 44.8500, 44.8475 and 44.8500, respectively, with total volume at $6.69 billion.
Comments
Comments are closed for this article.