Tuesday, March 28 2006 13:08 Hrs (IST) - World Time -

Mumbai: Month-end dollar demand continued to keep the Rupee under severe pressure in nervous early trade at the Interbank Foreign Exchange (forex) market today (Mar 28, 2006) with the outlook uncertain because of rising crude oil prices.

The domestic unit was quoted at Rs 44.7050/7150 per dollar in late morning deals, sharply lower than yesterday's over two-months closing low of Rs 44.66/67 per dollar.

The Rupee opened distinctly weak of Rs 44.74/75 per dollar due to relatively weak dollar overseas and in anticipation of further pressure due to customary month-end demand.

Usual month-end dollar demand today drove the Rupee to two-and-a-half month low of Rs 44.7050/7150 per dollar with flaring crude oil prices also adding to Rupee's woes, a forex dealer said.

Steady FII inflows, however, could partly cusion the Rupee fall, he added.

World crude oil prices surged to USD 64.10 a barrel early today on lingering supply concern. Foreign Institutional Investors (FIIs) infused US$ 31 million into equity markets on March 24 after injecting around US$ 12.7 million the previous day.

In Cross Currency trade, the Euro was quoted at Rs 53.69/71, Pound Sterling at Rs 78.08/10 and Japenese Yen (100) at Rs 38.23/25.