The Indian rupee reversed early gains to end weaker on Tuesday as local shares turned choppy and the euro pulled back after data showing slower-than-expected growth in Germany renewed fears of a global economic slowdown. The partially convertible rupee ended at 45.38/39 per dollar - its weakest level in the day - after rising to as high as 45.17 in early trades. It had closed 0.1 percent stronger on Friday at 45.35/36.
One-month offshore non-deliverable forward contracts were quoted at 45.50, 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 45.4350, 45.4225 and 45.4325, respectively. The total volume was at $8.64 billion.