Indian rupee ₹94.79 opens amid expected Jio Platforms IPO cash
Business
The Indian rupee opened at 94.79 per US dollar on Wednesday, up 14 paise from the last session.
This boost is mostly thanks to expected cash coming in from Jio Platforms's IPO and a weaker US dollar overall.
RBI intervention aids rupee amid headwinds
The rupee just had its best week in seven months, helped by the Reserve Bank of India stepping in to control dollar demand.
Still, it's not all smooth sailing: high oil prices and steady demand for dollars from importers are making things tricky.
Experts say these factors, plus the Reserve Bank of India's moves, will decide where the rupee heads next.