Rupee rises 12 paise to close at 90.18 against US dollar

Mumbai, Jan 6: The rupee snapped its four-day losing streak and appreciated by 12 paise to settle at 90.18 against the American currency on Tuesday, driven by foreign banks' dollar supply and a tentative return of inflows from foreign funds.

Forex traders said weak domestic equity markets and geopolitical tensions between the US and Venezuela capped sharp gains for the domestic unit.

At the interbank foreign exchange, the rupee opened at 90.22 against the US dollar and traded in the range of 90.08-90.25 before settling at 90.18, up 12 paise from its previous close. On Monday, the rupee closed 10 paise lower at 90.30 against the US dollar.