The Indian rupee is expected to open little changed on Thursday in the 95.40-95.44 range after settling 0.35% higher at 95.4125 per dollar on Tuesday. Lower oil prices and sustained intervention by the Reserve Bank of India (RBI), India's central bank, are offsetting expectations of a Federal Reserve rate hike next month and persistent dollar demand for hedging. India’s foreign-exchange and money markets were closed on Wednesday. Traders say USD/INR is likely to remain within a 95.00-95.80 range, with near-daily RBI intervention over the past two weeks limiting moves toward 96. Brent crude was trading near $87.30 a barrel, down from a recent high of around $95.80, while the dollar index held near an eight-day high after U.S. inflation and other data modestly increased expectations for a rate hike. Attention is turning to Fed Chair Kevin Warsh’s upcoming Jackson Hole speech for clues on the interest-rate outlook.