Rupee extends losses as a state-run bank buys dollar

Reuters Market Eye - The rupee extends losses after being in a tight range in early trade. The pair is at 62.10/11 versus its close of 61.85/86 on Friday.

A large state-run bank has been on the USD buy side, likely on behalf of oil refiners. The Sensex turns negative, down 0.2 percent.

Reserve Bank of India chief Raghuram Rajan reiterates inflationary concerns in the Financial Stability report released by the RBI.

(Reporting by Subhadip Sircar)