The Indian rupee weakened in the June-quarter, ending a three straight quarterly rise, as local shares dragged, but the euro's surge during the period helped limit the fall, traders said. The partially convertible rupee ended 44.6950/7050 per dollar, 0.4 percent higher from Wednesday's close of 44.86/87, but 0.25 percent weaker quarter-on-quarter.
The one-month onshore forward premium was 24.50 points versus 24.25 last close, the three-month at 74.50 points from 73.50 and the one-year was at 253.50 points from 249. One-month offshore non-deliverable forward contracts were quoted at 44.84, weaker than the onshore spot rate. In the currency futures market, the most traded near-month dollar-rupee contracts on the National Stock Exchange were at 44.8850, and on the MCX-SX and the United Stock Exchange both were at 44.8875. The total volume was at $8.49 billion.