Reuters Market Eye - The rupee rises to 53.59/60 in opening trade, its highest since February 8 and weaker compared with its close of 53.86/87 on Wednesday.
Traders say a risk-on mood globally pushing the dollar lower, while market is also hopeful for a fiscally disciplined budget.
Asian shares and other risk assets rise as sentiment improves after U.S. Federal Reserve Chairman Ben Bernanke reaffirms his commitment to strong stimulus, while a smooth debt sale calms fears over Italy's political turmoil.
Traders expect good support for the dollar around 53.55 levels, while month-end dollar demand from oil firms may also aid.
(Reporting by Swati Bhat)
Trending On Reuters
India's annual consumer price inflation edged up to a 17-month high of 5.69 percent in January, driven up by higher food costs, government data showed on Friday. Full Article