The Indian rupee ended off its near three-week high on Monday after a rally in the euro lost steam, and as dollar demand from domestic oil refiners and weak equities weighed. The partially convertible rupee ended at 48.945/955 per dollar, 0.1 percent stronger than Friday's 49.0175/0275 close. Intraday, it touched 48.6850 - a level not seen since September 28.
The one-month onshore forward premium on the rupee was at 24 points from 22.25 on Friday, the three-month premium was at 60.75 points from 60 and the one-year premium was 135.75 points, from 138. The one-month offshore non-deliverable forward contracts were quoted at 49.18, weaker than the spot rupee 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 ended at 49.0500, 49.0475 and 49.0525 respectively.
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