The Indian rupee rose on Tuesday boosted by gains in the euro and other regional peers, but choppy domestic shares failed to provide adequate cues on the direction of foreign capital flows. The partially convertible rupee closed at 46.64/65 per dollar, 0.3 percent stronger than its 46.80/81 close on Monday. It traded in a range of 46.58-46.7250 during the session.
The one-year onshore dollar premium rose as much as 185.25 points, compared with its previous close of 175.5 points. Premiums had dropped nearly 25 points last week. One-month offshore non-deliverable forward contracts were at 46.81, 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 both closed at 46.7150, with the total traded volume on the two exchanges at about $5 billion.
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