The rupee was trading at 60.24 to the dollar, up 10 paise over its Wednesday's close of 60.34 against the dollar.
The currency is now a whisker away from getting into the 50s mark and analysts see that happening sooner than later. One reason for the optimism is the huge levels of foreign fund flows into the Indian markets.
The currency has already hit a eight month high and is looking good for more.
The Indian rupee was teetering last year after the current account deficit spiralled out of control. However, it has recovered since than after the government managed to control the current account deficit.
The rupee had hit a low of 68.81 against the dollar last year. Check rupee rates here
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