Friday, March 17 2006 11:40 Hrs (IST) - World Time -

Mumbai: The Rupee today(Mar 17,2006) continued to be strengthened against the US currency due to sustained FII and trade inflows amid a distinctly weak dollar overseas even as gains could be contain because of rising crude oil prices.

In slightly upbeat mood at the Interbank Foreign Exchange (forex) market here this morning, the Rupee was quoted at 44.3650/3750 per dollar, sharply higher from Thursday's close of 44.4250/4350 per dollar. Rupee opened on a firm note at 44.35/36 per dollar.

With today's six paise gain, the Rupee has appreciated by over sixteen paise in three trading session.

Strong dollar supplies from trade and FII inflows amid a retreating dollar overseas continued to give the Rupee firm underlying support, despite rising crude oil prices at over 63 dollars a barrel that could contain gains, a forex dealer said.

Data release by SEBI showed that on Tuesday, Foreign Institutional Investors (FIIs) had pumped in a net US$ 37.10 million after pouring in US$ 51.8 million on Monday.

FII inflows stands at about US$ 3.6 billion so far in 2006.

Besides robust FII inflows, export proceeds and NRI remittences also gave the Rupee underlying support, a dealer said.

Turning to Cross Currency trade, the Euro was quoted at Rs 53.99/54.02, Pound Sterling at Rs 77.92/94 and Japenese Yen (100) at Rs 37.98/38.00.