Rupee to gain support as foreign capital returns
The Indian rupee is set to find support from returning foreign capital as a global technology rout redirects investments toward emerging markets. Foreign investors recently purchased billions in Indian equities, providing relief to the currency.
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The Indian rupee rose 0.5% this week, hitting a two-week high of 94.32 on Friday morning amid a global technology sell-off and retreating Brent Crude Oil prices.
