The Indian rupee reversed all early gains to end weaker on Thursday as domestic equities tumbled and as the euro fell on fears of a deepening eurozone crisis and the risk it poses to global economic growth. The partially convertible rupee ended at 50.9050/9150 per dollar, 0.3 percent weaker from Wednesday's close of 50.7350/7450.
The one-month onshore forward premium was at 29 points from 30.25 on Tuesday, the three-month was at 72.25 points from 74.50 and the one-year was at 189.75 points from 183.75. The one-month offshore non-deliverable forward contracts were quoted at 51.28, weaker than the onshore spot 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 51.0225, 51.0175 and 51.0200 respectively. The total volume was at $4.57 billion.
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