The Indian rupee strengthened on Wednesday, tracking firm Asian peers, with dollar inflows from corporates and expectations of more inflows next week outweighing weak euro and choppy local shares. The partially convertible rupee ended at 45.0000/0100 per dollar, stronger than Tuesday's close of 45.0750/0850.
The one-month onshore forward premiums were marginally down at 26.00 points compared with 26.25 points on Tuesday, while the three-month premiums were higher at 79.00 points from their previous close of 76.75 points. The one-year premium was also higher at 277.75 points versus 275.75 points on Tuesday.
The one-month offshore non-deliverable forward contracts were quoted at 45.24, weaker than the onshore spot rate. In the currency futures market, the most traded near-month dollar-rupee contracts on the National Stock Exchange ended at 45.1625, on the MCX-SX at 45.1675, and on the United Stock Exchange at 45.1650, with the total traded volume at $4.36 billion.
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