Rupee soars to 6-week high on Jio IPO flows, weaker dollar
On Wednesday, the Indian rupee closed at a six-week high of 94.46, gaining 46 paise from its previous close.
This increase was driven by strong foreign portfolio inflows linked to the Jio Platforms' IPO.
Additionally, the currency's rise was supported by a softer dollar index, which decreased from the previous day.
While oil prices rose to over $110 per barrel, the RBI's intervention helped the rupee maintain its strength.
5News aggregated this summary from the outlet’s public feed. The full article, with all the context, is on economictimes.indiatimes.com — the content belongs to The Economic Times.
