The Indian rupee ended down after falling to its lowest in 2 months on Monday on lower domestic shares, strong dollar demand from importers and an overall weakness in the euro. The partially convertible rupee ended at 45.1550/1650 per dollar after falling to 45.18 - its weakest since March 17. It had ended at 44.85/86 per dollar on Friday.
The one-month onshore forward premium was at 21.75 points versus 28 points last close. The three-month was at 68.25 points against 77.75 points and the one-year was at 267.50 points compared with 292.75 points. The one-month offshore non-deliverable forward contracts were quoted at 45.39, weaker than the onshore spot rate. In the currency futures market, the most traded near-month dollar-rupee contracts on the National Stock Exchange, and the United Stock Exchange were both at 45.2450, and the MCX-SX at 45.2425 with total volume at $9.2 billion.