New Delhi, Aug. 13 -- The Indian rupee opened 3 paise lower at 95.36 against the US dollar on Thursday, 13 August, as persistent dollar demand from hedgers continued to weigh on the currency. However, continued intervention by the Reserve Bank of India (RBI) helped limit the downside.

The rupee remained largely range-bound on Wednesday, moving within a narrow 3-4 paise band for most of the session. Steady dollar selling by state-run banks, likely on behalf of the RBI, supported the currency, which staged a late recovery after further central bank intervention and eventually ended around 0.1% higher.

The domestic currency has traded within a range of less than 30 paise so far this week, while near-term realised volatility has also declin...