Rupee rises 3 paise to close at 95.25 against US dollar

What happened: The rupee rose 3 paise to close at 95.25 against the US dollar, after touching a two-week low of 95.38 intra-day. Key numbers: Close 95.25, open 95.20, intra-day low 95.38, previous close 95.28. Brent down 1.03 per cent at USD 114.13 per barrel. Fed rate held at 3.75 per cent to 4.00 per cent. Why it matters: Traders cited a strong dollar and a slightly hawkish Fed, while positive domestic markets and softening crude oil prices cushioned the downside. Mirae Asset Sharekhan expects the rupee to trade with a slight negative bias.

The rupee rose 3 paise to close at 95.25 against the US dollar, after touching a two-week low of 95.38 intra-day.

Traders cited a strong dollar and a slightly hawkish Fed, while positive domestic markets and softening crude oil prices cushioned the downside. Mirae Asset Sharekhan expects the rupee to trade with a slight negative bias.