Jio IPO Inflows Push Rupee into Overbought Zone Amid Rising Oil Prices
The Indian rupee rose to 94.35 per dollar, entering a technically overbought zone due to strong foreign inflows from the $3.2 billion Jio Platforms IPO and supportive regulatory measures. Despite Brent crude oil prices rising nearly 2% to $110.6 per barrel amid Middle East tensions, the rupee is on track for an eight-day gain streak, recovering from near record lows earlier in October.
Mint Markets·



