Rupee at over 1-week low, oil companies buy dollars

Strengthening of dollar on concerns over Spain's borrowing costs weigh on rupee sentiment

The rupee is trading at 55.77/78 after falling as much as 55.84, its lowest since July 12. The pair closed Friday at 55.32/33.

Senior dealer with foreign bank says petroleum company and oil companies spotted buying dollars.

Global risk aversion weighs on the rupee: the euro falls to a near 12-year low against the yen and plumbs record lows versus the Australian dollar on Monday.

Local stocks down in line with Asian peers, Sensex falls 0.9 percent.