The Rupee opened little changed on Thursday, with lower oil prices and the central bank's sustained ?intervention offsetting the prospect of a Federal Reserve rate hike next ?month and persistent dollar demand for hedging. The RBI has stepped in almost daily over ?the past two weeks, particularly when USD/INR has moved into the 95.60-95.80 range, to support the rupee, traders say. On Tuesday, the central bank's intervention was reinforced by a retreat ?in oil prices, helping the rupee post its biggest single-day advance in ?nearly a month. Brent crude extended its decline in Asian trading on Thursday, potentially heading ?for ?a fourth consecutive day of losses. The nearest-month Brent futures contract was trading near $87.30 a barrel, well below its recent high of around $95.80. With oil prices pulling back and the RBI firmly capping the upside in dollar/rupee, it ?looks like more ?rangebound action is ?in store, said a currency trader at a bank. He added that robust dollar demand from importers seen in recent ?sessions is likely to continue, keeping dollar/rupee downside limited. The dollar index held near an eight-day high on Thursday after U.S. inflation and other economic data slightly lifted expectations that the Fed could raise ?interest rates ?next month. The inflation data revived the rate-hike ?debate, putting the spotlight on Fed Chair Kevin Warsh's upcoming Jackson Hole speech for a clearer read ?on where interest rates are headed. The U.S. dollar traded in a narrow range on Thursday ahead of ?the Jackson Hole symposium, while the yen held steady after a Bank of Japan policymaker did not rule out a rate hike next month but stopped short of explicitly signalling one. The euro was up 0.07% against the U.S. dollar at $1.1657, while the British pound traded at $1.3592. The Australian ?dollar strengthened 0.22% to $0.7183. Meanwhile, the yen was largely steady at 159.29 per dollar, little moved after BOJ Deputy Governor ?Ryozo Himino said timely rate hikes would help avoid an inflation spike that could force abrupt tightening ?later. The Korean won gained 0.48% against the dollar to 1,378.7 per dollar after the Bank of Korea raised its benchmark interest rate by 25 basis points ?to 3.00%, ?a second straight increase. Oil prices fell on Thursday, extending a streak of losses, on expectations that talks between Iran and Qatar might open the Strait of Hormuz and reduce supply disruptions from the ?war in the Middle East. Brent crude futures were down 41 cents, or 0.5%, to $87.43 a barrel at 0330 ?GMT, in line for a fourth day of declines. West Texas Intermediate crude futures fell 37 cents, or 0.5%, to $81.86, in line for a fifth day of losses.......