The Indian rupee recouped intraday losses to end nearly steady on Thursday, propelled by the euro's surge in late trade and strong corporate dollar inflows, but dollar demand from oil companies and weak local shares kept it under pressure. The partially convertible rupee ended at 44.83/84 per dollar, little changed from Wednesday's close of 44.84/85. It touched an intraday low of 44.98.
The one-month onshore forward premium was at 22.75 points versus 24 last close. The three-month was at 71.75 points versus 74 and the one-year was at 262 points versus 268.5. The one-month offshore non-deliverable forward contracts were quoted at 45.01, 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 45.0150, 45.0175, 45.0200 respectively. Total volume was $8.02 billion.
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