Rupee hits 5 month high on robust dollar inflows

The rupee gained marginally on strong dollar inflows and was seen trading at 52.36 to the US dollar, as against Monday's close of 52.38.

The rupee had risen to a high of 52.29 in early trade. The currency is expected to strengthen on the back of surge in dollar inflows, particularly from foreign funds, who have been investing in the markets, following a slew of reform measures by the government.

Meanwhile, crude oil also has been dropping making imports cheaper and hence dollar demand from importers.

The rupee is expected to remain at current levels and trade steady during the course of the week.

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