The rupee hit a 14 weeks high of 53.22 on Thursday morning and was trading at 53.25 versus its Wednesday's close of 53.30 as expectations of dollar inflows for stake sales in state-run firms keep sentiments bearish.
Market expect momentum to continue at least till Indian federal budget and Rupee might strengthen to 52 against USD, said Mr Jayesh Mehta, MD and treasurer Bank of America to a private news channel.
Traders said exporters were also seen selling the dollars on expectations of a stronger rupee in the near-term. India's ministerial panel approved selling a 10 percent stake in Oil India on Feb. 1, the oil secretary said.
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