The Indian rupee closed weaker on Monday after touching a three-week low on the back of negative local shares and a fall in the euro, while dollar demand from oil refiners also weighed. The partially convertible rupee ended at 45.00/01 per dollar, after falling to 45.06 - a level last seen on May 31, and 0.3 percent weaker than Friday's close of 44.86/87.
The one-month onshore forward premium was at 23 points versus 24 at last close. The three-month was at 70.25 points from 74.50 and the one-year was at 230.75 points from 251. One-month offshore non-deliverable forward contracts were quoted at 45.19, weaker than the onshore spot rate. In the currency futures market, the most traded near-month dollar-rupee contracts on the National Stock Exchange and the MCX-SX were both at 45.0750, while it was at 45.0725 on the United Stock Exchange. The total volume was at $9.78 billion.
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