 "Rupee settles below 70 after three months, crude oil slides further")
Staging smart recovery, the rupee on Friday opened 35 paise higher at 70.55 against the US dollar amid fall in oil prices ahead of the crucial OPEC meet outcome, due later in the day. The domestic unit on Thursday depreciated by 44 paise to close at 70.90.
Meanwhile, rating agency Fitch on Thursday said it expects the rupee to weaken to 75 against the US dollar by the middle of next year due to a widening current account deficit (CAD) and tighter global financing conditions.
Oil prices fell on Friday, pulled down by OPEC’s decision to delay a final decision
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