Rupee rises 4 paise to close at 90.68 against USD

Mumbai: The rupee rose 4 paise to close at 90.68 against the US dollar on Wednesday, driven by inflow of foreign funds and positive domestic equity markets.

However, higher global crude oil prices and a strengthening greenback capped sharp gains in the local unit.

At the interbank foreign exchange, the rupee opened at 90.60 against the US dollar. It traded in a narrow range of 90.59-90.71 before settling at 90.68 against the greenback, higher by 4 paise from its previous closing level. The rupee gained 2 paise to settle at 90.72 against the dollar on Tuesday.

The dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.08 per cent higher at 97.22.