Friday, March 24 2006 11:41 Hrs (IST) - World Time -

Mumbai: Sustained heavy dollar demand amid abroader strong dollar today (Mar 24, 2006) drove the Rupee to new one-month low of Rs 44.6700/6750 per dollar with the outlook uncertain due to rising crude oil prices.

In yet another nervous session at the Interbank Foreign Exchange (forex) market, the Rupee opened distinctly weak at 44.63/64 per dollar and tumbled to 44.6700/6750 per dollar in late morning deals, sharply lower from Thursday's close of 44.54/55 per dollar.

With today's 13 paise decline, the Rupee has depreciated by over 25 paise in fourth trading session, pulled down by persistent heavy dollar demand from banks and corporates amid a resurgent dollar overseas.

A global strong dollar continued to generate sustained heavy dollar demand and kept the Rupee under severe pressure, despite steady FII inflows into the equity market, a forex dealer said.

Flaring crude oil prices at US$ 63.88 a barrel also weighed on Rupee value.

Foreign Institutional Investors (FIIs) infused a whopping US$ 67.80 million into equity markets on March 22 after injecting around US$ 75 million in the previous two days.

Meanwhile, market men were awaiting crucial inflation data for new clues to Rupee direction.

In Cross Currency trade, the Euro was quoted at Rs 53.45/48, Pound Sterling at Rs 77.48/51 and Japenese Yen (100) at Rs 37.86/89.