The Indian rupee ended marginally stronger, but off the day's high amid choppy trade, as a sharp rise in the euro against majors in late trade outweighed weak local shares and strong demand for dollars from oil importers. The partially convertible rupee ended at 45.57/58 per dollar, 0.3 percent stronger than its 45.69/71 close on Tuesday. It moved in a band of 45.5350-45.6750 intra-day. The market was closed on Wednesday for a national holiday.
One-month offshore non-deliverable forward contracts were quoted at 45.85, weaker than the onshore spot rate, when the local foreign exchange market closed. 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 closed at 45.81, 45.8075 and 45.80, with the total traded volume on the three exchanges at $563 million.