The Indian rupee weakened on Wednesday for a second straight session, weighed by weak global equities, but a bounce back in the euro helped the local unit regain most of the lost ground. The partially convertible rupee ended at 44.31/32 per dollar, weaker than its 44.27/28 close on Tuesday, but bouncing back from the day's low of 44.4050.
One-month offshore non-deliverable forward contracts were quoted at 44.50, 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 44.4925, 44.4950 and 44.5000, respectively. The total volume stood at $12.16 billion.