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The Economic Times
The Economic Times
Business

Jio Platforms' IPO-linked inflows boost rupee; elevated oil prices spur caution

Jio Platforms Indian Rupee Oil RBI IPO Monetary Policy

The Indian rupee strengthened sharply on Wednesday, helped along by foreign portfolio inflows linked to Jio Platforms' IPO while persistently elevated oil prices kept traders cautious about positioning for further gains in the unit.

The rupee closed up 0.5% at 94.46 against the dollar after touching a peak of 94.43 earlier in the day, its strongest level since early September.

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