The rupee ended little changed on Thursday with support from upbeat domestic shares, but dollar demand from oil importers prevented gains in the local unit. The partially convertible rupee ended at 45.60/61 per dollar, little changed from 45.62/63 per dollar at close on Wednesday. It had fallen to 45.65 in early trade.
"The Sensex was strong today and the trade deficit figure also is good for rupee, but crude and inflation figure is worrying and so it seems that the market is confused," said Hari Chandramgathan, a senior foreign exchange dealer with Federal Bank. One-month offshore non-deliverable forward contracts were quoted at 46.77, weaker than the onshore spot rate, indicating a bearish outlook for the rupee. In the currency futures market, the most traded near-month dollar-rupee contracts on the National Stock Exchange was at 45.7875 per dollar while those on MCX-SX and United Stock Exchange ended at 45.79. Total traded volume was $4.4 billion.
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