Indian rupee ends lower at 95.22 amid global caution

UPDATE - follow-up to Rupee closes weaker at 95.22 as traders await US Fed decision, oil prices rise: The Indian rupee closed at 95.22, showing a minor drop due to ongoing market pressures. Traders stayed careful ahead of a big decision from the US Federal Reserve. High demand for dollars and costly oil are putting pressure on the currency. During the trading day, the rupee moved between 95.25 and 95.00. The Reserve Bank of India likely stepped in to stop the currency from falling past 95.25.

Context

Currency values often change based on global oil costs and decisions made by foreign central banks like the US Federal Reserve. Central banks step into foreign exchange markets from time to time to protect their local currency from sharp drops.