The Indian rupee reversed all early losses on Monday to end higher stoked by dollar inflows and boosted by a rebound in the local share market. The rupee settled at 51.36/37 to the dollar, 0.3 percent up from Friday's close of 51.5350/5450, after dipping to 51.79 in early trades.
One-month offshore non-deliverable forward contracts were quoted at 51.76, indicating some weakness in the short-term in 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 all ended around 51.59 on total volume of $4.17 billion.