The Indian rupee fell on Wednesday, snapping a three-session winning streak, led by dollar demand from oil refiners and a late fall in the euro. The rupee saw decent two-way interest in the session, with the unit trading in a 54.9550-55.43 band to the dollar. Dollar demand from oil refiners continued into the session, while inflows kept a lid on the rupee's losses.
The partially convertible rupee closed at 55.42/43 per dollar as per the SBI closing rate versus its previous close of 55.0650/0750. The one-month offshore non-deliverable forward contracts were at 55.68, while the three-month was at 56.36. 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 all closed at around 55.44 with the total traded volume at around $5 billion.
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