Rupee hits a fresh intra-day low, cuts losses as RBI intervenes

Gold reserves increase by over 100 tonnes in two years

Rupee hit a fresh intra-day low on Thursday as it breached the 77.5/$ mark on the back of strengthening of the US dollar, before intervention from the Reserve Bank of India (RBI) helped cut its losses.

The rupee ended the day at 77.43/$, before touching a low of 77.63/$, losing 18 paise or 0.24 per cent from its previous close of 77.24/$.

“Rupee fell to a fresh all-time low today (Thursday) as the dollar continued to strengthen. But losses remained restricted as the RBI intervened to curtail volatility of the currency. Dollar strengthened after inflation in the US rose in