Mumbai: The Indian rupee declined by 16 paise to 90.11 against the US dollar in early trade on Monday.

The depreciation was attributed to rising crude oil prices, ongoing foreign portfolio investor (FPI) outflows, and strong dollar demand from corporates and importers. The rupee opened at 90.07 in the interbank market before slipping further. On Friday, it had closed at 89.95 following the Reserve Bank of India’s first interest rate cut in six months.

What caused the rupee fall?

Forex traders highlighted that investors are closely watching the US Federal Reserve’s policy decision scheduled for 9–10 December, which is widely expected to result in a rate cut. At the same time, India and the United States will begin three days of discussions on the initial phase of a proposed bilateral t

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