Exporter dollar sales and dollar inflows into some local companies yanked the Indian rupee off a seven-week low on Wednesday, even though subdued global risk appetite and weak local shares weighed. The rupee ended at 50.28/29 to the dollar, marginally stronger from Tuesday's close of 50.36/37. Trading will be closed on Thursday for a local holiday.
The one-month offshore non-deliverable forward contracts were at 50.70. In the currency futures market, the most-traded near-month dollar-rupee contracts on the National Stock Exchange ended at 50.5325, on the MCX-SX at 50.5500 and on the United Stock Exchange at 50.5025, on a total volume of $5.6 billion.
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