The rupee advanced to the strongest level in almost eight weeks on speculation that accelerating economic growth will attract overseas funds to local assets. The rupee strengthened 0.2 per cent to 45.53 a dollar as of the 5:00 pm close in Mumbai, according to data compiled by Bloomberg.
It touched 45.38 earlier, the highest level since January 11. The rupee has gained 2.2 per cent so far this year, the third best performer among the 10 most-active Asian currencies outside of Japan.