The Indian rupee remained near 95.5 per dollar during the week, trading between 95.40 and 95.75. Importer dollar demand supported the currency’s lower end, while intervention by the Reserve Bank of India (India’s central bank) limited further downside. Oil prices near $90 a barrel were largely absorbed by the market, and the dollar held near a one-week high before Fed Chair Kevin Warsh’s closely watched Jackson Hole speech. The RBI also gave banks more flexibility to swap dollars raised through FCNR(B) deposits, allowing transactions above $100 million outside their designated weekly window. The scheme had attracted more than $65 billion ahead of its August 31 deadline, improving the RBI’s capacity to manage rupee volatility.