Indian rupee fell further and ended in red on Monday, weighed by dollar demand from a local steelmaker and oil importers as the biggest buyers of dollars in the domestic market, usually tend to peak towards the end of each month when they make payments. Asian shares inched lower and the euro eased from its highest in more than six weeks on Monday, as markets cautiously tuned in to a likely debt swap deal for Greece that is crucial to avoiding a messy default and eyed another European summit meeting. However, selling in the local currency was quite expected as rupee has gained 7% so far in 2012.
Finally the rupee ended at 49.78, weaker by 44 paise from its previous close of 49.34 on Friday. It touched a high and a low of 49.79 and 49.33 respectively. The Reserve Bank of India's reference rate for the dollar stood at Rs 49.5030 and for Euro it stood at 65.1882 on January 30, 2012. While, the RBI's reference rate for the Yen stood at 64.57 the reference rate for the Great Britain Pound (GBP) stood at 77.7395. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
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