Indian rupee snaps two-day fall

The Indian rupee snapped a two-day fall against the greenback to end firmer on Friday as a cash dollar shortage ebbed and demand from importers of defence equipment and state-run oil companies eased, dealers said.
The rupee ended at 45.2900/2950 per dollar, off an intra-day low of 45.3400 hit in the morning and firmer than Thursday's five-week closing low of 45.3125/3200.
Dollar inflows from Indian companies which raised foreign currency loans in recent days also lent some strength to the local unit, dealers said, but suspected central bank intervention had capped the gains.
The one-month forward ended at an annualised premium of 0.21 percent, up from Thursday's close of a 0.22 percent discount. The six-month forward edged up to finish at 0.38 percent, up from the previous close of 0.22 percent.