According to the mround() function in Excel:
function MRound($num,$parts) {
$res = $num * $parts;
$res = round($res);
return $res /$parts;
}
echo MRound(-1.38,4);//gives -1.5
echo MRound(-1.37,4);//gives -1.25
echo MRound(1.38,4);//gives 1.5
echo MRound(1.37,4);//gives 1.25