MUMBAI, Sept 8 Reuters The Indian rupee gained on Friday on likely help from the Reserve Bank of India RBI but registered a weekly decline for the second consecutive week as strength in the U.S. dollar and elevated crude prices weighed on the local unit.

The rupee closed at 82.9450 against the U.S. dollar compared with 83.21 in the previous session. Despite the strength on Friday, the rupee posted a weekly decline of 0.27.

Asian currencies also strengthened but the onshore Chinese Yuan finished its domestic session at its weakest since December 2007.

The rupee was perched below 83 in early afternoon trading but aggressive dollar sales from a large staterun bank, likely on behalf of the RBI, strengthened it beyond that level, traders said.

Despite the RBI intervention, global pressures and importer demand for dollars at these levels will cap rupee39;s appreciation at around 82.7082.80, a foreign exchange trader at a large Indian corporate treasury said.

In addition to intervening in the spot and the nondeliverable forwards markets, the RBI39;s defence of the rupee has also likely extended to currency futures, Reuters reported earlier today.

Elevated crude oil prices, higher U.S. treasury yields, and strength in the dollar index weighed on the rupee through the week but some softness on Friday offered respite.

The dollar index was marginally lower at 105 while the 10year U.S. bond yield dipped to 4.24.

While Brent crude futures pulled back to 89.8 during Asia hours,…