Rupee Weakens to 90.23 Against Dollar Amid Rising Crude, FII Outflows

• The Indian Rupee fell by 5 paise to 90.23 against the US dollar in early trade on Monday, January 12.
• Rising crude oil prices and continuous outflow of foreign funds contributed to the rupee's depreciation.
• Foreign institutional investors sold Indian stocks due to volatile geopolitical conditions and concerns about potential US tariffs on Indian exports.
• The dollar index was trading 0.14% lower at 98.75, while Brent crude futures rose 0.13% to $63.44 per barrel.
• India's foreign exchange reserves decreased by $9.809 billion to $686.801 billion in the week ending January 2.

Why It Matters: Rupee depreciates to 90.23 against the dollar due to higher crude prices and FII outflows.