The rupee comprehensive its decline in afternoon trading Monday on the back of losses in domestic share and broad strength in the dollar alongside major currencies abroad.
Per 1 pm, the partially exchangeable rupee at 44.59/60 per dollar, weaker than the preceding close of 44.5150/5250. The directory of the dollar alongside six major currencies was up 0.4 percent.
Indian shares were restless and were trading slightly lower. Essar Energy raised $ 1950000000 through London IPO last week, and part of the surplus may be invested in India, traders said, that could help the rupee.
A month offshore non-deliverable forward contracts were quoted at 44.70, weaker than the onshore spot rate. In money futures market, was the most traded near-month dollar-rupee contracts on the National Stock swap over and MCX-SX, both at 44.6850, the total traded volume on both connections for about $ 3.2 billion.
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