The rupee stayed weak on Tuesday due to dollar demand from oil refiners, but positive local stocks tempered the fall.
* Oil refiners are the largest buyers of dollars in the local currency market.
* At 2:21 p.m. (0851 GMT), the rupee was at 49.2850/2950 to the dollar, compared with Monday's close of 49.19/20. It had dipped to 49.4200 earlier as demand for riskier assets had stalled after ratings agency Moody's warned it may cut the triple-A ratings of France, Britain and Austria.
* The rupee was supported by views that the Reserve Bank of India will step in to support the currency if it slides sharply. The RBI sold more than $9 billion in the spot and forwards market in December, its biggest intervention in nearly three-and-half years.
