The Indian rupee weakened on Monday in tandem with losses in other regional peers and expectations for a lower start to domestic shares. Concerns about accelerating inflation also weighed. At 9:40 am (0410 GMT), the partially convertible rupee was at 46.75/76 per dollar, 0.5 percent weaker than its previous close of 46.53/54.
"The rupee has weakened in line with the euro's fall and expected stock market drop," a senior dealer with a private bank said. One-month offshore non-deliverable forward contracts for the rupee were quoted at 46.72/82, little changed from the onshore spot rate.
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