India’s rupee settled at 94.4850 per dollar on September 4 after rising 0.5%, extending its weekly gain to about 1% and keeping the currency near a two-month high. The rally has been supported by more forceful Reserve Bank of India dollar sales and inflows exceeding $136 billion through special mobilization schemes, including about $127 billion in non-resident deposits. Broad dollar weakness, led by a stronger Japanese yen, also aided the rupee. Rising oil prices remain a key risk: Brent crude moved above $96 a barrel amid renewed U.S.-Iran tensions, while higher energy costs, U.S. Treasury yields and expectations of a Federal Reserve rate hike could pressure the currency. The BSE Sensex rose about 0.4% to 76,889 in the related equity session, although elevated crude prices and Middle East tensions limited gains.