The rupee gained for a fifth consecutive session on Thursday to touch a five-and-half month high, breaching 52 to the dollar for the first time since April 20, 2012.
It rose to an intraday high of 51.87 in opening trades, having closed at 52.1550/1650 on Wednesday.
Strong gains in equity markets and the government's likely move to further reforms measures today have boosted sentiments in the currency.The government may approve a hike in the cap on foreign direct investment in insurance firms and open the pension sector to foreign investors after a cabinet meeting today.
Strong liquidity flows have also supported the appreciation in the rupee. Stock markets received over $3.5 billion net purchases last month.
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