The Indian rupee ended stronger on Tuesday on the back of a weak dollar overseas and positive local shares, but traders said oil importers' demand for the US unit could limit gains. The partially convertible rupee closed at 44.9550/9650 per dollar, 0.1 percent stronger than its previous close of 45.0050/0150.
The one-month onshore forward premium was at 30.50 points, lower than Monday's close of 32, while the three-month premium was at 82.25 points versus its previous close of 83 and the one-year was at 291.00 from previous 289. The one-month offshore non-deliverable forward contracts were quoted at 45.22, 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 were at 45.0275, 45.0300 and 45.0275 respectively, with the total traded volume at about $6.4 billion.