Thursday, March 23 2006 12:10 Hrs (IST) - World Time -

Mumbai: Rupee tumbled further against the US currency, as a globally firm dollar continued to generate hectic demand from banks and corporates in a slightly nervous early trade at the Interbank Foreign Exchange (forex) market.

The domestic unit was quoted at Rs 44.5525/5650 per dollar, in late morning deals, sharply lower from yesterday's close of Rs 44.50/51 per dollar. Rupee opened weak at 44.53/54 per dollar.

Rupee had declined by seven paise yesterday.

The dollar continued to fuel demand from foreign banks and oil corporates amid a firm crude oil prices at US$ 62.27 a barrel, a forex dealer said.

"Suspected dollar buying intervention by the Central bank to help exporters, may have also weighed on Rupee value," he added.

Meanwhile, Foreign Institutional Investors (FIIs) injected US$ 41 million on March 21 after infusing around US$ 33.40 million on March 20.

In Cross Currency trade, the Euro was quoted at Rs 53.68/70, Pound Sterling at Rs 77.66/68 and Japenese Yen (100) at Rs 38.08/10.