The Indian rupee dived on Wednesday, pummelled by dollar demand from oil companies, a slide in domestic equities and weak Asian currencies. The partially convertible rupee ended at 45.99/46.00 per dollar, nearly 0.8 percent weaker from Tuesday's close of 45.625/635.
The one-month onshore forward premium was at 8.50 points from 12.75 points on Tuesday, the three-month was at 37 points from 43.25 points and the one-year stood at 140.50 points, from 160.50. The one-month offshore non-deliverable forward contracts were quoted at 46.13, 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 ended at 46.0250, 46.0200, 46.0275, respectively. The total volume was at $9.42 billion.
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