The Indian rupee weakened on Monday hurt by losses in local shares and other regional currencies, but dollar sales from some exporters stemmed steep falls in the local unit. The partially convertible rupee closed at 46.80/81 per dollar, marginally weaker than its close of 46.76/77 on Friday. The unit traded in a range of 46.73 to 46.89 during the day.
One-month offshore non-deliverable forward contracts were quoted at 46.99, 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 MCX-SX closed at 46.8850 and 46.8925 respectively, with the total traded volume on the two exchanges of about $5.3 billion.
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