The Indian rupee weakened to its lowest in nearly a month on Wednesday, as

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local shares dipped, but traders said the performance of the dollar overseas would be watched for cues.

At 9:18 a.m., the partially convertible rupee was at 47.00/01 per dollar, its weakest since June 10, and lower than Tuesday's close of 46.89/90.

Asian currencies were mixed versus the dollar.

Indian shares were trading down 0.26 percent and the index of the dollar against six majors was up 0.14 percent.

The euro dipped on Wednesday but was still hovering near a recent seven-week high, with traders saying it could rise further in the near term due to doubts about a recovery in the U.S. economy and positive technical signals.

The Reserve Bank of India is likely to raise interest rates again in its quarterly review on July 27, a new survey found, and rates at the end of the year are likely to be higher than forecast before Friday's unexpected 25 basis point rise.