The Italian President has asked Prime Minister Matteo Renzi to delay his resignation, say Italian media.
President Sergio Mattarella is reported to have asked Mr Renzi to stay on until the 2017 budget has been approved by parliament, possibly later this week.
Mr Renzi, the head of the centre-left Democratic Party, has been Prime Minister since February 2014, but said he would quit after losing Sunday's constitutional referendum.
He had staked his political future on the reform, which was aimed at weakening the powers of the upper house to help streamline Italy's notoriously lengthy legislative process.
It would have also cut down the number of senators and cut the powers of regional authorities.
But he was attacked by his opponents, who described the reforms as dangerous for democracy.
Mr Renzi said he took full responsibility for the "extraordinarily clear" defeat, with the final count showing the "No" camp winning 59.1% to 40.9%.
The 41-year old former mayor of Florence told the country after his defeat: "my experience of government finishes here".
Monday saw a slump in the euro, which fell sharply against the US dollar and hit a four-and-a-half-month low against sterling, reaching a 1.20 exchange rate for the first time since July
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