The Indian rupee posted its largest one session fall in nearly two weeks on Tuesday as concerns that Europe's debt crisis may worsen eroded global risk appetite hurting equities and the euro. The partially convertible rupee ended at 49.27/28 per dollar, 1.2 percent weaker from its previous close of 48.69/70 making this the biggest single day fall for the unit since October 20.
The one-month onshore forward premium on the rupee was at 27.50 points from 26.25 on Monday, the three-month premium was at 66 points from 68.50 and the one-year premium was at 161 points, from 169. The one-month offshore non-deliverable forward contracts were quoted at 49.59, weaker versus the spot rupee rate. In the currency futures market, the most traded near-month dollar-rupee contracts on the National Stock Exchange and the United Stock Exchange both ended at 49.5175 while on the MCX-SX it settled at 49.5225. The total traded volume on the three exchanges was $4.68 billion.