MUMBAI: The Indian rupee extended gains on Monday afternoon boosted by over a percent rise in local shares and also tracking the dollar's weakness versus major currencies overseas.
* At 1:32 p.m., the partially convertible rupee was at 44.36/37 per dollar, stronger than 44.59/60 at close on Friday when it fell 0.65 percent in its biggest one-day drop since early September.
* The dollar fell to a 15-year low versus the yen on Monday, extending losses after investors took a Group of 20 statement as a cue to continue dumping the U.S. currency.
* The index of the dollar against six major currencies was down 0.8 percent.
* Indian shares rose more than 1 percent, underpinned by firm Asian markets and robust foreign demand. Foreign portfolio investments in equities stand at a record $24 billion, compared with $17.5 billion last year.
* Dealers said dollar demand from importers was capping a further upside to the rupee. Oil firms, the largest dollar buyers in the currency market, and other importers too usually pump up purchases toward the end of each month when they are required to make payments.
* One-month offshore non-deliverable forward contracts were quoted at 44.63, weaker than the onshore spot rate.
* In the currency futures market, the most traded near-month dollar-rupee contracts on the National Stock Exchange, MCX-SX and United Stock Exchange were all at 44.3850, with the total traded volume on the three exchanges at about $3.5 billion.
