The Rupee opened weaker on Wednesday, pressured by a surge in oil prices and rising U.S. ?Treasury yields, threatening to blunt the momentum the currency has ?built with the central bank's intervention. The rupee's rally has come despite ?multiple headwinds and has been driven largely by aggressive intervention from ?the Reserve Bank of India, with flow-related dollar selling by foreign banks providing ?additional support, traders said. In recent sessions, the rupee has been among the better-performing Asian currencies. The question now is whether the RBI will step in again and absorb the pressure ?coming from higher oil prices, a currency trader at a bank ?said. At the moment, the central bank is effectively the only meaningful dollar seller in the ?market, ?and without its presence, it is difficult to see the rupee holding on to current levels, he added. The RBI's intervention comes against the backdrop of a surge in deposits from non-resident Indians, which has strengthened its firepower. ?Inflows under the ?FCNR(B) scheme topped $100 ?billion by the Aug. 31 deadline for banks to raise deposits eligible for concessional swaps with the RBI, ?the Financial Express reported. The dollar held near ?a two-week high on Wednesday as renewed hostilities in the Middle East drove oil prices higher, reviving inflation concerns and adding upward pressure on bond ?yields. The dollar index , which measures the greenback against a basket of currencies including the yen and the euro, rose 0.11% to 99.79, its highest point since August 17. The euro was down 0.13% at $1.1577. The currency's appeal as a safe haven has been reinforced by rising Treasury yields and growing expectations of a Federal Reserve rate hike, even as recent economic data came in below forecasts. Meanwhile, the New Zealand dollar weakened 0.8% against the greenback to $0.5844, its lowest point since August 13, even ?after the country's central bank raised its official cash rate by 25 basis points to 2.75%. Analysts said market participants viewed the decision as less hawkish than expected. The British pound lost 0.09% to $1.3503, while ?the Australian dollar eased 0.04% to $0.7141. The Japanese yen weakened 0.08% against the greenback to 160.28 per dollar, its lowest level since July 31, remaining beyond the psychologically important 160-per-dollar threshold despite overwhelming expectations of a ?Bank of Japan rate hike this month. Oil prices rose in early trade on Wednesday, ?extending the previous session's surge, as concerns over supply disruption intensified after the U.S. and Iran exchanged ?strikes overnight, dimming hopes for a quick easing of tensions in the Middle East. Brent crude futures rose 75 cents, or 0.8%, to $95.40 a barrel by 0345 GMT, while U.S. West Texas Intermediate crude futures climbed 44 cents, or 0.5%, to $90.66.......