Rupee rises 29 paise against dollar early, but crude prices cap gains

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The Indian rupee opened stronger against the US dollar, gaining 29 paise to reach 94.62. The rise was driven by foreign investment tied to the Jio IPO and support from the Reserve Bank of India. However, a continued climb in crude oil prices remained a drag on the currency. Domestic stocks also posted solid gains, with the BSE Sensex rising substantially. Foreign institutional investors, meanwhile, continued to sell.

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