Friday, February 17 2006 12:00 Hrs (IST) - World Time -

Mumbai: The Rupee slide today (Feb 17 2006) continued unabated, tumbling to a new over one-month low of Rs 44.41/42 per dollar, pulled down by sustained heavy dollar demand amid a robust dollar overseas with the outlook slightly uncertain due to a slow-down in FII inflows.

In nervous trade at the Interbank Foreign Exchange (Forex) market, the Rupee opened distinctly weak at 44.40/41 per dollar and later slipped to 44.41/42 per dollar, lower from yesterday's close of 44.3450/3550 per dollar.

The Rupee declined by nearly 15 paise in the last two trading session. A strong global dollar continued to generate hectic dollar buying from corporates and importers amidst a slow-down in FII inflows, a forex dealer said.

Lower global oil prices, however, remained a comforting factor for the Rupee, he added. FIIs pulled out a modest USD 13 million on Feb 15 after a whopping USD 113 million on FEB 14. Despite the current outflows, FIIs pumped in over USD 800 million into equity market in the current month.

World crude oil prices hovered below 54 dollar a barrel and was quoted at USD 58.85 in early Asain trade today due to sharp rise in the US inventories.

Meanwhile, the market will be awaiting crucial inflation data to be released later today for further clues to Rupee direction.

Turning to Cross Currency trade, the Euro was quoted at 52.77/80, Pound Sterling at Rs 77.06/09 and Japenese Yen 100 at Rs 37.56/59.