The Indian rupee strengthened on Tuesday, supported by the euro's gains against the dollar and firmer local stocks. At 10:30 am (0500 GMT), the partially convertible rupee was at 45.48/49 per dollar, 0.4 percent above its close of 45.67/68 on Monday. One-month offshore non-deliverable forward contracts were quoted at 45.74, weaker than the onshore spot rate.
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 were all at 45.5150, with the total traded volume at about $1.4 billion.