The Indian rupee rose to 2-1/2 week highs on Monday, aided by dollar inflows as well as domestic equity strength, but importer demand for the greenback due to high oil prices prevented a sharper rise. The partially convertible rupee ended at 45.4750/4850 per dollar, after rising to 45.45, its highest since January 19. It had ended at 45.5950/6050 per dollar on Friday.
One-month offshore non-deliverable forward contracts were quoted at 45.65, 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 at 45.6300, 45.6300 and 45.6275 respectively, with the total traded volume at $5.04 billion.