Indian rupee breaks eight-day fall

The Indian rupee reversed all early losses to break an eight-session decline on Thursday propped up by local share gains and a firm euro on signs European leaders were committed to keeping Greece in the eurozone. The partially convertible rupee ended at 47.545/555 to a dollar, stronger than Wednesday's close of 47.620/630 when it had collapsed to a near two-year low of 48.02.
The one-month onshore forward premium was at 19.25 points from 17.50 on Wednesday, while the three-month was at 53.50 points from 44.75 and the one-year was at 122 points from 104.25. One-month offshore non-deliverable forward contracts were quoted at 47.78, weaker than the onshore spot rate.