Indian rupee falls

The Indian rupee fell on Friday dragged by euro's slide as worries over eurozone debt resurfaced, but the local unit managed to post a second consecutive month of gains as inflows stayed robust. The partially convertible rupee ended at 44.1850/1950 per dollar, 0.3 percent weaker than Thursday's close 44.07/08, but on weekly basis the local currency rose 0.4 percent.
The one-month onshore forward premium was at 24 points from 24.75 on Thursday, while the three-month was at 72.25 points from 73.75 and the one-year was at 240 points from 243.50. One-month offshore non-deliverable forward contracts were quoted at 44.34, weaker than the onshore spot rate.