Indian rupee falls

The Indian rupee fell on Monday, retreating from an over one-week high hit earlier in the session, as relief from domestic trade data showing a rise in exports failed to offset the global strength in the dollar after a stronger-than-expected US jobs data.
"There is greater comfort on the current account deficit given the dilution in headwinds from external sector," said Moses Harding, head of asset liability management at IndusInd Bank. The partially convertible rupee closed at 54.41/42 per dollar versus its previous close of 54.285/2950.
In the offshore non-deliverable forwards, the one-month contract was at 54.82, while the three-month was at 55.42. 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 54.63 with a total traded volume of $5.6 billion.