MUMBAI, Nov 4 (Reuters) - The Indian rupee rose further on Wednesday afternoon tracking gains in the local sharemarket which rallied over 3 percent and also buoyed by higher regional currencies. * At 3:20 p.m., the partially convertible rupee INR=IN was at 47.06/07 per dollar, stronger than its previous close of 47.40/41. * Shares .BSESN were trading up about 3.3 percent following the finance minister's comments on Tuesday. [.BO] * The government will maintain its fiscal stimulus due to uncertainty arising from a poor monsoon and the global outlook, Finance Minister Pranab Mukherjee said on Tuesday, as data showed the summer crop could post a bigger-than-expected fall. [ID:nL3634290] * Foreigners have bought more than $14 billion of local equities so far this year, after being sellers of more than $13 billion in 2008. * The dollar retreated from a one-month high against a currency basket on Wednesday as traders braced for a policy decision from the Federal Reserve, which was seen keeping its promise to keep interest rates low. [USD/] * The dollar index .DXY, a gauge of the U.S. units performance versus six majors, was down 0.4 percent. * In the currency futures market INRFUTURES, the most traded near-month contracts on the National Stock Exchange and MCX-SX were both quoting at 47.1425 respectively, with the total traded volume on the two exchanges at about $2.4 billion. (Reporting by Swati Bhat; Editing by Sunil Nair)

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