Indian rupee seen lower on record oil, inflation

MUMBAI, May 9 (Reuters) - The Indian rupee is likely to fall to a fresh one-year low on Friday as record high oil prices push up dollar demand from refiners, with data forecast to show inflation holding at 3-½ years highs also weighing.

* The partially convertible rupee <INR=IN> ended at 41.76/77 per dollar on Thursday, off an intraday low of 41.80, the weakest since April 20, 2007, according to Reuters data. The rupee had closed at 41.36/37 on Wednesday, and has fallen more than 2.5 percent this week.

* Oil CLc1, India's biggest import, hit a record high above $124 a barrel on Thursday. India imports 70 percent of its oil needs, and crude refiners are among the biggest Indian buyers of dollars.

* India's wholesale price index <INWPI=ECI> is forecast to have risen 7.61 percent in the 12 months to April 26, the highest since Nov. 13, 2004 when it stood at 7.68 percent. The data is due around noon (0630 GMT) on Friday. See [ID:nBOM33842] (Reporting by Anurag Joshi; Editing by John Mair)