The Indian rupee ended down on Monday dragged by the euro's weakness against the dollar and weak local shares, with importer demand for the greenback also weighing. The partially convertible rupee ended at 44.4750/4850 per dollar, 0.3 percent weaker than Friday's close of 44.325/335, after trading in a 44.35-44.49 range intra-day.
The one-month onshore forward premium was at 25.25 points from 23.75 on Friday, while the three-month was at 70.75 points from 73 and the one-year was at 235.25 points versus 249. One-month offshore non-deliverable forward contracts were quoted at 44.65, 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 44.6075, 44.6050 and 44.6150, respectively. The total volume was aat $9.74 billion.