The Indian-rupee retrieved early losses to settle 12 paise higher at 71.70 against the US dollar, but overall forex-market-sentiments remained subdued amid further escalation in US-Iran tensions. At the foreign bank exchange, domestic unit opened significantly lower at 72.05/dollar as against the previous day's close of 71.82. During the day, it traded in the range of 72.07 and 71.69 to the US currency.