The Indian rupee weakened to a two-week low on Wednesday, weighed by losses in local shares, the euro's weakness against the dollar and subdued dollar inflows. The partially convertible rupee ended at 45.3950/4050 per dollar, off 45.4650, its lowest since December 1 and weaker than its 44.945/955 close on Tuesday, when it had risen to 44.94 - its strongest since December 8.
The one-year forward premium ended at 239 points, from the previous 241.25 points, while one-month forwards ended at 25.50 points from Tuesday's 27.25 points. One-month offshore non-deliverable forward contracts ended at 45.62, weaker than the onshore spot rate.
In the currency futures market, the most traded near-month dollar-rupee contracts on the National Stock Exchange closed at 45.4975 and on the MCX-SX and United Stock Exchange closed at 45.4950, with the total traded volume on the three exchanges at a moderate $6 billion.
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