The Indian rupee hovered around 95.2 per dollar, holding steady after recent gains as continued Reserve Bank of India intervention and reduced expectations of a September Federal Reserve rate hike provided support. The rupee has been in recovery mode over the past two weeks, aided by regular RBI intervention. Brent crude rose to around $84.50 a barrel on Monday but remained well below its recent high of $100, providing some breathing room for the rupee. The RBI also intervened at the open on Friday, signalling its willingness to prevent oil-price uncertainty from translating into unchecked pressure on the currency. Meanwhile, investors pared bets on a September Fed rate hike after US employers unexpectedly shed 23,000 jobs in July, with Fed funds futures now implying a 44% probability of a hike, down from 55% before the data. The RBI's continued presence in the foreign exchange market has helped cushion the rupee from oil-related pressure and limit downside risks.