The Indian rupee remained near 95.5 per U.S. dollar during the week, trading between 95.40 and 95.75 after reopening from a Wednesday holiday. Reserve Bank of India intervention and lower-to-near-$90 oil prices supported the currency, while persistent importer dollar demand limited gains. The RBI’s increased flexibility to manage more than $65 billion in FCNR(B) deposits also strengthened its capacity to contain volatility. The dollar remained near a one-week high ahead of Fed Chair Kevin Warsh’s Jackson Hole speech, while expectations of a possible September Federal Reserve rate increase and foreign portfolio outflows continued to pressure the rupee.