At 9:03 a.m. (0333 GMT), the rupee was at 49.34/49.35 to the dollar, weaker than Friday's close of 49.3050/3150.

Asian shares inched lower and the euro eased from its highest in more than six weeks on Monday, as markets cautiously tuned in to a likely debt swap deal for Greece that is crucial to avoiding a messy default and eyed another a European summit meeting.