The Indian rupee ended weaker on Thursday after a volatile trading session, as choppy domestic shares dented sentiment with some oil-related dollar demand from refiners also adding to the downward pressure. The partially convertible rupee ended at 45.0350/0450 per dollar, against 44.945/955 at close on Tuesday. The forex market was closed on Wednesday for a local holiday.
Intra-day it shuffled in a 44.9300-45.0850 range. The one-month onshore forward premiums were at 24.50 points against 25.50 points on Tuesday. The one-month offshore non-deliverable forward contracts were quoted at 45.28, weaker than the onshore spot rate. In the currency futures market, the most traded near-month dollar-rupee contracts on the National Stock Exchange were at 45.2375, the MCX-SX at 45.2250 and on the United Stock Exchange were at 45.2300, with the total traded volume at a high $8.51 billion. Usual volume is around $6-$7 billion.