The Indian rupee seesawed on Tuesday tracking a choppy share market and the dollar's moves versus majors but managed to post marginal gains on the day as traders were optimistic about the euro's recovery. The partially convertible rupee closed at 45.60/61 per dollar, after dropping to 45.6950. It had closed at 45.62/63 on Monday after falling to 45.77 during trade, its weakest since March 5.
The unit traded in a band of 45.515 to 45.695 during the day. One-month offshore non-deliverable forward contracts were quoted at 45.69, weaker than the onshore spot rate. In the currency futures market, the most traded near-month dollar-rupee contracts on the National Stock Exchange and MCX-SX closed at 45.63 and 45.6350 respectively, with the total traded volume on the two exchanges at about $8.4 billion.