Odisha News, Odisha Latest news, Odisha Daily - OrissaPOST
  • Home
  • Trending
  • State
  • Metro
  • National
  • International
  • Business
  • Feature
  • Entertainment
  • Sports
  • More..
    • Odisha Special
    • Editorial
    • Opinion
    • Careers
    • Sci-Tech
    • Timeout
    • Horoscope
    • Today’s Pic
  • Video
  • Epaper
  • News in Odia
  • Home
  • Trending
  • State
  • Metro
  • National
  • International
  • Business
  • Feature
  • Entertainment
  • Sports
  • More..
    • Odisha Special
    • Editorial
    • Opinion
    • Careers
    • Sci-Tech
    • Timeout
    • Horoscope
    • Today’s Pic
  • Video
  • Epaper
  • News in Odia
No Result
View All Result
OrissaPOST - Odisha Latest news, English Daily -
No Result
View All Result

Rupee gains 2 paise to 77.59 against US dollar in early trade

PTI
Updated: May 27th, 2022, 10:09 IST
in Business
0
Rupee
Share on FacebookShare on TwitterShare on WhatsAppShare on Linkedin

Mumbai: The rupee appreciated 2 paise to 77.59 against the US dollar in the opening trade Friday, supported by heavy buying in domestic equities and a weak greenback in the overseas markets.

However, rising global crude prices and persistent foreign fund outflows capped the rupee’s gain, forex traders said.

Also Read

Azerbaijan inks pact worth USD 2 billion with Pakistan at ECO summit

7 hours ago
India’s NH length record 60% growth in last 10 years to become 2nd largest network in world

Govt reduces toll charges by up to 50% on national highways with bridges, tunnels

21 hours ago

At the interbank foreign exchange, the rupee opened at 77.60 against the American dollar and then inched up to quote at 77.59, registering a rise of just 2 paise over the previous close. It was moving in a close range of 77.59 to 77.61 in early deals.

In the previous session, the rupee settled at 77.61 against the American currency.

The dollar index has slipped further towards the crucial level of 100. The index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.34 per cent lower at 101.49.

On the domestic equity market front, the 30-share Sensex was trading 435.93 points or 0.80 per cent higher at 54,688.46, while the broader NSE Nifty climbed 128.70 points or 0.80 per cent to 16,298.85.

Global oil benchmark Brent crude futures rose 0.17 per cent to USD 117.60 per barrel.

Foreign institutional investors remained net sellers in the capital market Thursday as they offloaded shares worth Rs 1,597.84 crore, as per stock exchange data.

According to a British brokerage, the Reserve Bank will opt for a larger, 0.50 per cent, hike in key rates at its next monetary policy review in June to protect medium-term economic stability in face of the uncomfortable inflation situation.

The central bank will likely revise its inflation estimate to 6.2-6.5 per cent, which is way above the upper end of its tolerance band of 2-6 per cent, economists at Barclays said.

Meanwhile, Moody’s Investors Service Thursday slashed India’s economic growth projection to 8.8 per cent for 2022 from 9.1 per cent earlier, citing high inflation.

In its update to Global Macro Outlook 2022-23, Moody’s said high-frequency data suggest that the growth momentum from December quarter 2021 carried through into the first four months this year.

However, the rise in crude oil, food and fertiliser prices will weigh on household finances and spending in the months ahead. Rate hike to prevent energy and food inflation from becoming more generalised will slow the demand recovery’s momentum, it said.

The upcoming release of official data for economic performance is likely to register a 2.7 per cent growth for January-March period and the FY22 growth is expected to be 8.5 per cent, economists at SBI have said.

Tags: Early tradeMarket openRupeeUS Dollar
ShareTweetSendShare
Suggest A Correction

Enter your email to get our daily news in your inbox.

 

OrissaPOST epaper Sunday POST OrissaPOST epaper

Click Here: Plastic Free Odisha

#MyPaperBagChallenge

Sisirkumar Maharana

December 12, 2019
#MyPaperBagChallenge

Pratik Kumar Ghibela

December 12, 2019
#MyPaperBagChallenge

Praptimayee Biswal

December 12, 2019
#MyPaperBagChallenge

Saishree Satyarupa

December 12, 2019
#MyPaperBagChallenge

Manas Samanta

December 12, 2019
#MyPaperBagChallenge

Narendra Kumar

December 12, 2019
#MyPaperBagChallenge

Smitarani Sahoo

December 12, 2019
#MyPaperBagChallenge

Shreyanshu Bal

December 12, 2019
#MyPaperBagChallenge

Tabish Maaz

December 12, 2019
#MyPaperBagChallenge

Anup Mahapatra

December 12, 2019
#MyPaperBagChallenge

Akriti Negi

December 12, 2019
#MyPaperBagChallenge

Spinoj Pattnaik

December 12, 2019
#MyPaperBagChallenge

Amritansh Mishra

December 12, 2019
#MyPaperBagChallenge

Pratyasharani Ghibela

December 12, 2019
#MyPaperBagChallenge

Mrutyunjaya Behera

December 12, 2019
#MyPaperBagChallenge

Nishikant Rout

December 12, 2019
#MyPaperBagChallenge

Arya Ayushman

December 12, 2019
#MyPaperBagChallenge

Subhajyoti Mohanty

December 12, 2019
#MyPaperBagChallenge

Subhajyoti Mohanty

December 12, 2019
#MyPaperBagChallenge

Pratik Kumar

December 12, 2019
#MyPaperBagChallenge

Lopali Pattnaik

December 12, 2019
#MyPaperBagChallenge

Rajashree Pravati Mohanty

December 12, 2019
#MyPaperBagChallenge

Adweeti Bhattacharya

December 12, 2019
#MyPaperBagChallenge

D Rama Rao

December 12, 2019
#MyPaperBagChallenge

Ipsita

December 12, 2019
#MyPaperBagChallenge

Geetanjali Patro

December 12, 2019
#MyPaperBagChallenge

Pitabas Tripathy

December 12, 2019
#MyPaperBagChallenge

Tapaswini Mallick

December 12, 2019
#MyPaperBagChallenge

Archana Parida

December 12, 2019
#MyPaperBagChallenge

Surya Sidhant Rath

December 12, 2019

Archives

Editorial

India’s Spy Shift

July 5, 2025

India’s espionage architecture is quietly shifting. The appointment of Parag Jain as the new chief of RAW comes at a...

Read more

Hungary Lessons

Hungary
July 2, 2025

Revolting against oppression and seeking freedom is ingrained in human nature, something that a repressive regime finds out sooner or...

Read more

New Democratic Face

Zohran Mamdani
July 1, 2025

US President Donald Trump, who had comfortably defeated his Democratic rival Kamala Harris in the recent presidential election and exuded...

Read more

Proof To Vote

Vote
June 30, 2025

Months ahead of the Assembly polls in Bihar, the Election Commission of India (ECI) on 28 June launched a ‘special...

Read more
  • Home
  • State
  • Metro
  • National
  • International
  • Business
  • Editorial
  • Opinion
  • Sports
  • About Us
  • Advertise
  • Contact Us
  • Jobs
Developed By Ratna Technology

© 2024 All rights Reserved by OrissaPOST

  • News in Odia
  • Orissa POST Epaper
  • Video
  • Home
  • Trending
  • Metro
  • State
  • Odisha Special
  • National
  • International
  • Sports
  • Business
  • Editorial
  • Entertainment
  • Horoscope
  • Careers
  • Feature
  • Today’s Pic
  • Opinion
  • Sci-Tech
  • About Us
  • Contact Us
  • Jobs

© 2024 All rights Reserved by OrissaPOST

    • News in Odia
    • Orissa POST Epaper
    • Video
    • Home
    • Trending
    • Metro
    • State
    • Odisha Special
    • National
    • International
    • Sports
    • Business
    • Editorial
    • Entertainment
    • Horoscope
    • Careers
    • Feature
    • Today’s Pic
    • Opinion
    • Sci-Tech
    • About Us
    • Contact Us
    • Jobs

    © 2024 All rights Reserved by OrissaPOST