The Indian rupee ended down on Friday and could weaken further next week on choppy euro and month-end dollar demand from oil firms, but support for the rupee could come from local equities. The partially convertible rupee ended at 44.99/45.00 per dollar, 0.07 percent weaker than its 44.96/97 last close, after moving between 44.9250 and 45.0300 intraday.
The one-month onshore forward premium was at 22.25 points versus 22.50 at last close. The three-month was at 72.25 points from 73 and the one-year was at 245.50 points from 244. One-month offshore non-deliverable forward contracts were quoted at 45.22, 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 on the United Stock Exchange were both at 45.0200 and on the MCX-SX at 45.0175. The total volume was at $10.33 billion.
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