Indian Rupee emerged weak for the second consecutive session on Monday as Europe’s worsening debt crisis spurred demand for the perceived safety of the dollar.Meanwhile, weaker Asian peers amidst subdued local equities also added to the pressure. On the global front, euro fell on Monday, hitting a record low against the Swiss franc and dropping against the yen as investors grabbed perceived safe-haven currencies on concerns that the euro zone debt crisis could worsen in the near term.
Finally the Rupee ended at 44.57, weaker by 6 paise from its previous close of 44.51 on Friday. It has touched a high and low of 44.60 and 44.53 respectively. The Reserve Bank of India's reference rate for the dollar stood at 44.57 and for Euro it stood at 62.59 on July 18, 2011. While, the RBI's reference rate for the Yen stood at 56.42 and the reference rate for the Great Britain Pound (GBP) stood at 71.7513. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
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