The Indian rupee slid to a near six-week low on Monday, dragged by weak local shares and fears of foreign fund outflows on renewed risk aversion stoked by global economic uncertainty. The partially convertible rupee ended at 44.9650/9750 per dollar, 0.5 percent weaker than its Friday's close of 44.735/740, but off the day's low of 45.0650 - a level not seen since June 28.
The one-month onshore forward premium was at 21.25 points from 20.25 points, while the three-month was at 58.25 points from 59.25. The one-year onshore forward premium fell to 178 points from 191.75 points last Friday. One-month offshore non-deliverable forward contracts were quoted at 45.25, weaker than the onshore spot rate. In the currency futures market, the most traded near-month dollar-rupee contracts on the National Stock Exchange and the MCX-SX were both at 45.1150, while those on the United Stock Exchange was at 45.1125. The total volume was at $15.91 billion.
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