The rupee closed marginally up by 3 paise at 95.12 (provisional) against the US dollar on Tuesday, backed by likely intervention from the Reserve Bank amid elevated crude oil prices and a stronger greenback ahead of the US Federal Reserve’s policy decision.
The Indian currency showed some recovery after RBI interventions but failed to withstand pressure from unabated selling by foreign equity investors, according to forex traders.
In the interbank foreign exchange market, the rupee opened at 95.17 and traded in a tight range of 95.09 to 95.24 before closing at 95.12 (provisional) against the greenback, up 3 paise from its previous close.
On Monday, the rupee depreciated for the third consecutive day and settled 22 paise lower at 95.15 against the US dollar.
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