![\"Rupee](\"https:\/\/static.toiimg.com\/thumb\/msid-131245406,imgsize-702471,width-400,height-225,resizemode-4\/-.jpg\")
<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div><\/div>\n<\/div>\nThe rupee ended higher on Thursday snapping a two-week losing streak after strong intervention by the Reserve Bank of India (RBI) helped support the domestic currency, though elevated oil prices and geopolitical risks continued to cloud the outlook, Reuters reported.The rupee settled at 96.20 against the US dollar, up 0.6 per cent from its previous close of 96.82, marking its strongest single-day gain in two weeks.Also Read:<\/span> Rupee under pressure: How RBI may try to stabilise the currency<\/a>Traders told Reuters that the RBI used its familiar intervention strategy by selling dollars through state-run banks before market opening hours to halt the rupee’s recent slide after a series of record lows.The domestic currency briefly moved above the 96-per-dollar level before surrendering some of its gains, with traders indicating that intermittent dollar sales by state-run banks continued through the trading session.“The intent of intervention was visibly more aggressive than recent sessions, signalling discomfort with the one-way rupee moves from 94.50 on May 8 to a record low of 96.96 hit on Wednesday,” a trader at a private sector bank told Reuters.Bloomberg News also reported that India is examining various measures to stabilise the currency, including a possible interest rate increase, citing people familiar with the matter.Meanwhile, broader regional sentiment remained under pressure. Asian currencies weakened between 0.1 per cent and 0.4 per cent as Brent crude futures continued to trade above $100 a barrel.Markets remain focused on developments surrounding US-Iran discussions as the conflict has pushed global oil prices up by more than 50 per cent.US President Donald Trump said he could wait a few days for “the right answers” from Tehran but added that he was also prepared to resume attacks if required.“The dollar’s contained reaction to Trump’s comments leaves a relatively larger scope for further downside if a deal is indeed about to be agreed,” analysts at ING said in a note to Reuters. “But it also confirms thinner market patience, and a new period of a stall in negotiations could end up taking (the dollar index) above the 99.50 mark.”The dollar index was last trading at 99.1.<\/div>\n<\/div>\n