Rupee falls 6 paise to 90.23 against dollar

Mumbai: The rupee declined 6 paise to close at 90.23 against the US dollar on Tuesday, weighed down by higher crude oil prices, a firm American currency and incessant outflow of foreign funds.

Analysts said geopolitical tensions and weak equity markets also put pressure on the Indian currency.

At the interbank foreign exchange, the rupee opened at 90.24 and touched the intra-day low of 90.30 against the greenback.

The currency ended the session at 90.23 against the dollar, down 6 paise from its previous close.

On Monday, the rupee ended 1 paisa higher at 90.17 against the US dollar.

Market sentiment improved after the new US envoy to India, Sergio Gor, on Monday said that both sides are actively engaged in firming up a trade deal, forex analysts said.

Meanwhile, the dollar index, which measures the greenback’s strength against a basket of six currencies, was trading 0.07 per cent higher at 98.69.

The latest data from the I-T Department showed the net direct tax collection grew about 8.82 per cent to over Rs 18.38 lakh crore in FY26 till January 11 due to slower refunds and better corporate tax mop-up.

Net corporate tax collection grew 12.4 per cent to over Rs 8.63 lakh crore, and taxes from non-corporates, including individuals, rose 6.39 per cent to about Rs 9.30 lakh crore.