The Indian rupee was unable to hold on to an early rise to three-week highs gains on Tuesday, losing ground to end slightly weaker after the stock market posted its first fall in five days. The partially convertible rupee ended at 46.50/51 per dollar, weaker than 46.46/47 at close on Monday. One-month offshore non-deliverable forward rupee contracts were quoting at 46.48/58, in line with the onshore spot rate.
In the currency futures market, the most traded near-month contracts on the National Stock Exchange and MCX-SX closed at 46.54 and 46.5375 respectively, with total traded volume on the two exchanges at about $3.6 billion.