Rupee rises 27 paise against US dollar

Mumbai, May 7: The rupee pared initial losses and settled for the day on a positive note, higher by 27 paise at 94.22 against the greenback on Thursday, as Brent crude and the US dollar index retreated from their elevated levels. Forex traders said Brent oil prices have fallen below USD 100 per barrel on a rise in investor risk appetite in global markets on hopes of peace between the US and Iran. (PTI)