The Indian rupee fell on Wednesday weighed by gains in the dollar after expectations of fresh monetary stimulus in the United States faded and local oil importers looked to cover payment obligations before the long weekend. The rupee ended at 51.055/065 to the dollar, 0.71 percent down from Tuesday's close of 50.6950/7050.
Indian financial markets are closed on Thursday and Friday for local holidays. The one-month offshore non-deliverable forward contracts were at 51.48. In the currency futures market, the most-traded near-month dollar-rupee contracts on the National Stock Exchange, the MCX-SX and on the United Stock Exchange all ended around 51.4, on a combined volume of $4.3 billion.