India, Oct. 28 -- The rupee closed 3 paise higher at 95.12 against the U.S. dollar on Tuesday, October 27, supported by likely intervention from the Reserve Bank of India as elevated crude oil prices and a stronger dollar weighed on the currency ahead of the U.S. Federal Reserve's policy decision.

Forex traders said the rupee recovered somewhat after RBI intervention but could not withstand pressure from continued selling by foreign equity investors.

In the interbank foreign exchange market, the rupee opened at 95.17 and traded in a narrow range of 95.09 to 95.24 before settling at 95.12.

The rupee had fallen for three straight sessions before Tuesday's gain. On Monday, October 26, it settled 22 paise lower at 95.15.

Published by HT D...