MUMBAI (Reuters) - The rupee weakened on Monday following the dollar's broad gains against other currencies, and as lower Asian stock markets pointed to a weak start for local shares.
* At 9:03 a.m. the rupee was at 48.60/61 per dollar, weaker than Friday's close of 48.48/49. It rose 0.9 percent last week.
* The dollar rose sharply against the Australian and New Zealand dollars as speculators covered short positions that had pushed the greenback to one-year lows. It was also firmer versus the euro.
* One-month offshore non-deliverable forward rupee contracts were at 48.48/58 per dollar, steady with the onshore spot rate. At 9:03 a.m., Nifty Indian stock futures in Singapore were down 0.7 percent.
* Net purchases of $8.7 billion worth stocks by foreigners so far this year have helped the rupee pull back from record a low of 52.2 in early March.
