Jio’s mega IPO brings dollar inflows, gives the rupee an eight-day winning streak

• Foreign inflows into the Jio IPO lifted the rupee for eight straight sessions, its best run since early September.
That streak broke on Thursday. The rupee closed at 94.83 as Brent crude pushed above $112.
The IPO was 3.47 times subscribed by the second day, with the retail portion fully covered.
Jio Platforms lists on 28 October. The issue values it at up to $108.3 billion.

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