Indian rupee at six-month low

The Indian rupee slid to its lowest in over six months on Thursday as local equities slumped, with investors cutting exposure to riskier assets on worries over the global economy, and triggered concerns of more foreign fund outflows. The partially convertible rupee ended at 45.7350/7450 per dollar, 0.7 percent weaker from Wednesday's close of 45.4050/4150. Earlier, it had touched a low of 45.7525, a level not seen since February 11.
The one-year onshore forward premium was at 133.25 points from 143.25 last close. It had eased to a near 15-month low of 83.75 points last Thursday. One-month offshore non-deliverable forward contracts were quoted at 45.88, weaker than the onshore spot rate. In the currency futures market, the most traded near-month dollar-rupee contracts on the National Stock Exchange, the MCX-SX and the United Stock Exchange were at 45.7850, 45.7775, and 45.7825, respectively. The total volume was at $12.37 billion.