The Indian rupee rose on Friday as euro regained poise against the dollar propelled by a more ambitious than expected second rescue package for Greece, and as local shares gained, but dollar demand from oil importers prevented a sharper rise. The partially convertible rupee ended at 44.3625/3725 per dollar, 0.3 percent stronger than its 44.515/525 close on Thursday, but off the day's high of 44.3450.
The one-month onshore forward premium was at 23.50 points from 24 points on Thursday, while the three-month was at 72.25 points from 70.50 points and the one-year was at 234.75 points versus 228.75.
One-month offshore non-deliverable forward contracts were quoted at 44.47, 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 44.3725, 44.3775 and 44.3825, respectively, with the total volume at $10.14 billion.