The rupee gained 4 paise to settle at 74.80 against the American dollar on Wednesday tracking weakness in the greenback.
At the interbank forex market, the rupee traded in a narrow range.
It started the day at 74.83 and closed at 74.80, up 4 paise over its previous closing of 74.84 against the US dollar.
The USD-INR spot traded in a very narrow range of 74.75-75.
US Fed’s policy outcome, scheduled to be announced later in the day.
It will provide some clarity over the trend, said Rahul Gupta, Head of Research- Currency, Emkay Global Financial Services.