By Anoop Agrawal Jan. 15 (Bloomberg) -- India’s rupee was set for a fourth weekly gain, the best run in three months, as signs economic growth is gathering pace encouraged investors to increase purchases of the nation’s stocks. The currency this week touched its strongest level since September 2008 after data from the Securities & Exchange Board of India showed global funds added $1.8 billion to their share holdings in January following record purchases in 2009. Factory output increased the most in two years in November, a government report showed this week, while exports rebounded for the first time in 14 months, according to data on Jan. 1. “The rupee is on a strong footing as far as local parameters are concerned and I see no reason why the situation will reverse,” said Naveen Raghuvanshi, a currency trader at Development Credit Bank Ltd. in Mumbai. The rupee advanced 0.3 percent this week to 45.6250 per dollar as of 9:55 a.m. in Mumbai, according to data compiled by Bloomberg. It reached 45.275 on Jan. 11, the strongest level since September 2008. Offshore contracts indicate bets the rupee will trade at 45.63 to the dollar in a month, compared with 45.64 yesterday. Forwards are agreements in which assets are bought and sold at current prices for future delivery. Non-deliverable contracts are settled in dollars rather than the local currency.

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