The Indian rupee strengthened on Tuesday on some dollar inflows, but eased from a near one-month high after China raised interest rate for the second time in just over six weeks to tame stubborn inflation. The partially convertible rupee closed at 45.29/30 per dollar, after touching 45.2350, its highest since January 14 and up 0.4 percent from Monday's close of 45.4750/4850.
One-month offshore non-deliverable forward contracts were at 45.47, 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 United Stock Exchange both closed at 45.44, while those on the MCX-SX closed at 45.43, with the total volume traded on the three exchanges at $5.13 billion.
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