The Indian rupee gained marginally on Thursday as bullishness due to share gains and weakness in the dollar was offset by concerns of foreigners repatriating funds after the country's largest initial share sale allocation. The partially convertible rupee closed at 44.30/31 per dollar, 0.1 percent stronger than its previous close of 44.35/36.
One-month offshore non-deliverable forward contracts were quoted at 44.60, weaker than the onshore spot rate. In the currency futures market, the most traded near-month dollar-rupee contracts on the National Stock Exchange, MCX-SX and United Stock Exchange closed at 44.37, 44.3650 and 44.3675 respectively, with traded volume on the three exchanges at a low of $5.6 billion.