The Indian rupee weakened on Thursday as payments for oil imports picked up, while the dollar's rise after Japan intervened to stem the yen's strength also weighed. At 10:57 am (0527 GMT), the partially convertible rupee was at 44.4350/4400 per dollar, 0.3 percent weaker than Wednesday's close of 44.31/32.
The one-month onshore forward premium was at 21.25 points from 22.50 on Wednesday, while the three-month was at 64.25 points from 67.75 and the one-year was at 212 points from 217.75. In the currency futures market, the most traded near-month dollar-rupee contracts on the National Stock Exchange was at 44.5950 while on the MCX-SX and the United Stock Exchange were at 44.5925. Total volume stood at $3.4 billion.