The rupee rose on Monday to hit its highest level in ten weeks aided by dollar flows, which helped the currency navigate the impact of choppy local shares and demand from oil refiners.
The rupee ended 50.09/10 to the dollar, 0.5% stronger than Friday's close of 50.32/33. It touched a high of 50.05 earlier, a level last seen November 14.
Many traders believe the rupee may gain more ground in the coming days and rise to around 49.20 as fears of a meltdown in the euro zone ease and policymakers in Asia's third-largest economy look to boost faltering growth.
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