New Delhi, May 7 -- The Indian rupee started lower by 13 paise at 94.74 against the US dollar on Thursday, 7 May, following a significant recovery in the previous day's trading. On Wednesday, the local currency gained 69 paise, finishing at 94.49 per dollar, bolstered by falling crude oil prices and a more favourable global sentiment.

The rupee's recovery occurred as Brent crude prices dropped towards the $100-per-barrel threshold after Donald Trump suggested a potential agreement with Iran, which raised optimism about reducing geopolitical tensions in the Middle East.

Nevertheless, optimism waned after US President Donald Trump said it was "too early" for in-person discussions with Tehran, while a prominent Iranian legislator claimed t...