New Delhi, Dec. 8 -- The Indian rupee declined by 16 paise to 90.11 against the US dollar in early trade on Monday, led by high crude oil prices and ongoing foreign fund outflows. Forex traders noted that strong demand for the dollar from corporates, importers, and foreign portfolio investors added to the rupee's weakness.

The rupee started at 90.07 against the dollar in the interbank market before slipping to 90.11, down 16 paise from its previous close.

On Friday, the rupee closed at 89.95 against the dollar, following the Reserve Bank of India's first interest rate cut in six months.

Forex traders noted that investors are now concentrating on the Federal Reserve's policy decision scheduled for December 9-10. The markets are currentl...