The Indian rupee held its ground on Thursday after a choppy trading session, tracking a volatile euro, as dollar sales by exporters offset weak local shares. The partially convertible rupee ended at 44.07/08 per dollar, little changed from Wednesday's close of 44.08/09, but moved in wide band of 44.0150 to 44.1725 intraday.
The one-month onshore forward premium was at 24.50 points from 24.75 on Wednesday, while the three-month was at 73.25 points from 75.75 and the one-year was at 243.50 points versus 246.25. One-month offshore non-deliverable forward contracts were quoted at 44.25, weaker than the onshore spot rate.