The rupee is trading at 61.45/46, its highest level since January 17 and above its close of 61.75/76 on Wednesday, on the back of positive sentiment about equity market inflows ahead of general elections next month.
The rupee is seen moving in a 61.40 to 61.60 range.
Also read: Rupee has resistance at 62.35/62.55: ICICIdirect.com
Almost all Asian currencies gain on easing worries about the standoff in Ukraine.
Traders say a narrower current account deficit also helping the rupee slightly though the figure was widely expected.
Data post-market hours showed India's balance of payments swung back into surplus during the October-December quarter, helped by government curbs on gold imports, after two quarters in deficit.
Overseas investors bought Indian shares worth USD 119.46 million on Wednesday, extending their buying streak to a 14th consecutive day for a net of about USD 800 million, provisional exchange data shows.
The BSE Sensex is trading up 0.4 percent.
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