The rupee traded at 95.8725 per dollar on Wednesday, Sept. 16, up 0.1% after reaching its weakest level in more than one month in the previous session. The Reserve Bank of India (India’s central bank) likely intervened in the foreign-exchange market (market for trading currencies), according to three traders, as elevated oil prices and an impending U.S. Federal Reserve rate hike pressured the currency. State-run banks were seen offering dollars, most likely for the RBI. The central bank has intervened frequently to support the rupee, helping limit its decline amid multiple headwinds.