The rupee recovered from a low level and traded with a gain of 12 paise at 90.66 against the US dollar in early deals on Monday, tracking a retreating greenback against major overseas rivals.

However, persistent outflow of foreign funds from domestic equity markets and higher crude oil prices overseas amid a volatile geopolitical situation kept investors cautious, forex analysts said. At the interbank foreign exchange, the rupee opened at 90.68 and gained further to trade at 90.66 against the greenback, registering a gain of 12 paise from its previous closing level.