Indian rupee falls

The Indian rupee fell for a third consecutive week as investors trimmed holdings on the country's weak economic outlook and fears more pain was in store for the currency given limited fiscal and monetary space for supporting growth. The rupee, however, ended higher on the day at 52.07/08 to the dollar, but 1.45 percent weaker from last week's closing of 51.3050. It had closed at 52.14/15 on Thursday.
The one-month offshore non-deliverable forward contracts were at 52.08. 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 all ended around 52.17, on a total volume of $3.98 billion.