The rupee weakened on Monday morning, tracking lower Asian peers amid broad gains in the dollar against major currencies. Traders will watch the domestic share market for further cues.
* At 9:05 a.m., the partially convertible rupee was at 49.53/54 per dollar, after dropping to 49.69 in early deals and weaker than its close of 49.42/43 on Friday.
* The unit had shed 4.4% of its value last week, its biggest fall since the week ended July 12, 1996.
* The MSCI index of Asian stocks ex-Japan was down 1.8%, while the Nifty India stock futures traded in Singapore were down 0.7%, suggesting a weak start to the local market.
* The index of the dollar against six major currencies was up 0.14% at 78.616 points. It was at 78.502 points when the rupee closed on Friday. Most Asian currencies were also lower versus the dollar.
* The euro dropped sharply on Monday, moving towards an eight-month low hit last week, as riskier assets were hammered across the board with markets waiting for more details on fresh efforts from European officials to tackle the debt crisis there.
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