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Jio inflows help rupee climb new heights

Jio inflows help rupee climb new heights
Jio inflows help rupee climb new heights
The entire investment schedule in Jio was announced beginning late April, helping reverse the trend in the rupee that has otherwise been among the worst performers in Asia this year.

Synopsis

The RBI has been shoring up forex reserves to help ride out the volatility

Mumbai: About $15 billion of overseas funds raised by Jio Platforms are due to enter the Indian financial system in just two weeks, reflecting renewed global confidence in the country and helping add sheen to the rupee that last week logged its biggest gains this year.Jio Platforms, the communications platform of Reliance Industries (RIL), has raised more than 1.17 lakh crore over 11 rounds in just two and a half months. Traders estimate that
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