<div id="readability-page-1"><div>By Jaspreet KalraMUMBAI, May 15 (Reuters) - The Indian rupee slipped on Friday and was on course for an over 1% weekly drop, ‌as oil prices held above $100 per barrel, while dollar sales by state-run ‌banks helped the currency avoid a record low, traders said.The rupee fell 0.2% to 95.94, hovering ​near its record low of 95.9575 hit in the previous session.Brent oil prices gained more than 1% to $107 per barrel after U.S. President Donald Trump said he would not be &#34;much more patient&#34; with Iran.The more than five-week ceasefire between the ‌U.S. and Iran remains fragile, ⁠with neither side appearing close to a deal to end the war.Pressure from elevated oil prices was compounded by higher U.S. ⁠bond yields on Friday. The 10-year U.S. bond yield rose to 4.53%, its highest in a year, as concerns over energy-driven inflation fuelled bets of a Federal ​Reserve rate ​hike this year.Earlier on Friday, India raised ​petrol and diesel prices for ‌the first time in four years by more than 3%, becoming one of the last major economies to hike retail fuel prices.Indian interest rate swap markets are currently pricing in about 90 bps worth of rate hikes over the next 12 months.&#34;Having implemented measures to contain non-essential consumption to limit import bill ‌and conserve foreign exchange, we expect policymakers to ​continue with these measures and additionally announce steps ​to encourage foreign capital inflows,&#34; ​economists at Barclays said in a note. The firm expects ‌the RBI to keep rates unchanged ​over 2026.Multiple media reports ​in recent days outlining possible steps to boost dollar inflows have provided momentary relief to the rupee, even as the underlying trend of weak ​dollar inflows keeps the ‌depreciation trend intact.Investors are also awaiting India's merchandise trade data for ​April due to be released later on Friday.(Reporting by Jaspreet Kalra; ​Editing by Ronojoy Mazumdar and Eileen Soreng)</div></div>

INDH

The Indian rupee fell 0.2% to 95.94, nearing its record low, as oil prices remained above $100 per barrel. State-run banks' dollar sales provided some support. Brent oil prices rose to $107 per barrel amid U.S.-Iran tensions. India's petrol and diesel prices increased for the first time in four years. Economists expect further measures to encourage foreign capital inflows, while interest rate swaps indicate potential rate hikes over the next year.

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Oil price strain keeps rupee near record low, state banks' dollar sales cushion