Indian rupee ended weak for a second consecutive session on Tuesday, weighed down by dollar demand from oil refiners amid lack of major dollar supplies as forex markets remained closed on Monday at United States on account of ‘Labour Day’ holiday. However, tracing positive local equities and most emerging Asian currencies, which rose on Tuesday on growing hopes that major central banks will take fresh steps to boost global growth and ease the euro zone's debt crisis, rupee appreciated to a week high level only to end lower on sharp uptake of dollar by oil importers.
Finally the rupee ended at 55.66, weaker by 13 paise from its previous close of 55.53 on Monday. The currency touched a high and low of 55.70 and 55.40 respectively. The Reserve Bank of India's (RBI) reference rate for the dollar stood at Rs 55.53 and for Euro it stood at Rs 70.01 on September 04, 2012. While, the RBI’s reference rate for the Yen stood at 70.85, the reference rate for the Great Britain Pound (GBP) stood at 88.2300. The reference rates are based on 12 noon rates of a few select banks in Mumbai.