The Indian rupee strengthened on Friday, supported by strong domestic equities and a rise in the euro that was triggered by views that European policymakers were inching closer to a plan to tackle the region's debt crisis. The partially convertible rupee ended at 49.0175/0275 per dollar, 0.2 percent stronger than Thursday's close of 49.1200/1300 after moving in band of 48.9850 to 49.2200 during trade. The unit ended the week up 0.3 percent.
The one-month onshore forward premium on the rupee was at 22.25 points from 21.50 on Thursday, the three-month premium was at 60 points from 57.50 points and the one-year premium was 138 points, from 126.00. The one-month offshore non-deliverable forward contracts were quoted at 49.31, weaker than the spot rupee 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 ended at 49.1300, 49.1325, and 49.1350, respectively. The total traded volume on the three exchanges was $4.19 billion.