Rupee reached new heights on Thursday for more than two month highs in the preceding sessions as the dollar rose largely against other major currencies, although small gains in the local market unable to indicate such an increase.

Nitesh Kumar, an inter-bank dealer with Development Credit Bank said, "Dollar gain a height against all major currencies overnight".

Sources revealed that at 10:08 a. m. (0438 GMT), the partially convertible rupee was at 45.43/44 per dollar, 0.2 percent weaker than 45.34/35 at close on Wednesday when it rose to 45.3325, it's strongest since Jan. 11.

Further, Kumar told that there is no possibility of change in the stock market so rupee will manage to increase more.

Traders hold the opinion that they will keep a close watch on the movement of domestic stock market.

Reports revealed that in 2010, foreigners have bought shares worth net $3 billion, these inflows had helped the rupee gain 4.7 percent.