 "Rupee settles below 70 after three months, crude oil slides further")
The rupee on Tuesday opened 23 paise higher at 71.33 against the US dollar as oil prices dropped 1 per cent, amid reports of a big climb in US inventories and forecasts of record shale output stoked worries about oversupply.
The domestic unit on Monday recovered by 34 paise to close at 71.56 against the US dollar as forex market sentiments were driven by the country's narrowing trade deficit in November as also smart gains in domestic equities.
"Trade data on Friday showed the trade gap narrowed to $16.7 billion in November from October's $17.1 billion as a drop in oil prices
