New Delhi, Aug. 21 -- The Indian rupee opened 7 paise higher at 95.64 against the US dollar on Friday, 21 August, even as rising crude oil prices and sustained dollar demand from importers continued to weigh on the local currency.

The rupee has traded within a narrow 30-paisa range so far this week, mirroring last week's pattern. According to a Reuters report, the currency has faced pressure from higher oil prices and importer hedging, with subsequent declines limited by intervention from the Reserve Bank of India (RBI).

The recent weakness in the US dollar, following the US Treasury's measures to support longer-maturity bonds, has also helped the RBI in supporting the rupee.

A currency trader at a bank told Reuters that, based on rece...