The rupee closed at 74.62 after seeing an intra-day high of 74.9900 in dramatic moves as importers stepped in to hedge their exposures due to the rupee strengthening on Thursday close. Strong economic data from the US and India boosted investors' confidence about economic recovery across the globe, and due to the expectations that the Reserve Bank of India may not limit the rupee's rise aggressively.The Reserve Bank of India halted its relentless purchases of the greenback towards the very end of trade on Thursday, resulting in a 30-paise jump in the rupee. This signalled to currency traders that the central bank may be not limit the rupee's rise as heavily as it has been for more than a month.Currency traders at home anticipate mammoth investments from foreign entities into Reliance Industries' subsidiary Jio Platforms, which is likely to prompt bets in favour of the rupee. Over the last couple of months, global investors such as Public Investment Fund, Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR, Mubadala, Abu Dhabi Investment Authority, TPG and L Catterton, have collectively acquired over 22% stake in Jio Platforms for around 1 trln rupees. However, market players may remain wary of the RBI's purchases of the greenback immediately after open, to check any further gains in the Indian currency. The central bank has added nearly $24 bln to its foreign exchange reserves since May, taking these to $505.57 bln as on Jun 19.Foreign banks are expected to sell the greenback for foreign portfolio investors who may purchase Indian shares today.......