The Indian rupee lost 2.4 percent on the week, its biggest weekly slide in eight weeks, as weak local shares and demand for dollars continued to weigh, although corporate dollar sales pulled it off a 32-month low hit earlier on Friday. The partially convertible rupee ended at 51.3350/3450 per dollar, 0.8 percent weaker than Thursday's 50.9050/9150 close, after sliding to 51.41 - a level last seen on March 18, 2009.
The one-month onshore forward premium was at 25.25 points from 29 points on Thursday, the three-month was at 59 points from 72.25 and the one-year was at 163.25 points from 189.75. The one-month offshore non-deliverable forward contracts were quoted at 51.71, weaker than the on-shore spot rate. In the currency futures market, the most traded near-month dollar-rupee contracts on the National Stock Exchange were at 51.4325, while those on the MCX-SX and the United Stock Exchange were both at 51.4300. The total volume was at $5.32 billion.