The rupee opened weaker in early trades on Monday tracking lower Asian equities, and as large capital inflows are not expected with the year-end approaching.
At 9.07 am, the partially convertible rupee was at Rs 44.98/44.99 per dollar compared with Friday's close of Rs 44.80/81, when it had hit Rs 44.85, its weakest since September 29.
Dealers expect the Indian rupee to move in Rs 44.65-45.00 band during trade.
The dollar held on to its gains against the majors adding to the rupee's early fall. The euro edged higher on Monday, with some hoping for a rescue package for Ireland, but sentiment was fragile with the market watching other eurozone economies and nervous about a prospective tightening in China.
The dollar index against six majors was up 0.14% at 78.040.
Foreign funds have so far in 2010 bought shares worth a record USD 28.5 billion, compared with last year's USD 17.5 billion.
The MSCI index of Asian stocks ex-Japan was down 0.38%, and the Nifty India stock futures traded in Singapore was up 0.07%.
