Indian rupee ends weaker on central bank intervention

The Indian rupee ended weaker on Tuesday, easing from a 3 1/2 year closing peak struck last session on suspected central bank intervention, dealers said.
The rupee ended at 45.2450/2550 per dollar, compared to Monday's close of 45.2400/2450.
"We should again see a 45.23 to 45.26 range tomorrow unless the Reserve Bank of India (RBI) lets go," a private bank dealer said. "There is virtually no demand except from the central bank, given the bearish outlook for the dollar overseas."
Rupee premiums on forward dollars ended marginally lower amid a lack of interest to hedge forward exposures from importers and some cancellations of forward contracts by exporters.
The annualised premium on the benchmark six-month forward eased four basis points to 0.47 percent.