Rupee little changed as traders tread gingerly with eye on oil, dollar

The Indian rupee was up 0.1 percent at 95.31 per dollar, little changed from its previous close of 95.3875, as traders weighed softer US Fed rate hike expectations against rising crude oil prices driven by renewed US-Iran conflict. Brent crude was up about 6 percent on the week at 76.5 dollars per barrel following Iranian attacks on US military infrastructure in Gulf states. RBI measures announced last month to narrow the balance-of-payments gap continue to support the rupee, while markets price in about 50 basis points of rate increases over the next 12 months ahead of June CPI data due next week.