The Indian rupee ended higher on Friday aided by a stronger euro after shaving most gains on heavy dollar buying by oil importers and negative local shares. The partially convertible rupee closed at 45.35/36 per dollar, 0.1 percent stronger than Thursday's close of 45.4050/4150. It had traded in a band of 45.2500-45.4650 intraday.
The Indian rupee has weakened 2.6 percent since the beginning of August, according to Thomson Reuters data. The one-month onshore forward premium was at 7 points from 3.50 points on Thursday when it had fallen to a 34-month low of negative 2.75 points.
The three-month was at 32.75 points from 21.25 points and the one-year onshore forward premium was 136.75 points from 111.50. One-month offshore non-deliverable forward contracts were quoted at 45.46, 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 45.3675, 45.3650 and 45.3550 respectively. The total volume was at $14.26 billion.