The rupee fell sharply by 47 paise to close at 85.87 (provisional) against the US dollar on Monday amid rising global crude oil prices and a strong American currency.
Outflow of foreign funds fuelled by uncertainties over US President Donald Trump's trade tariffs put further pressure on the local unit, according to forex traders.

At the interbank foreign exchange, the rupee opened at 85.53 against the US dollar and traded in the range of 85.51-86.03 before settling at 85.87 (provisional), lower by 47 paise from its previous close.
The rupee had settled at 85.40 against the US dollar on Friday.

The rupee fell on constant buying by oil companies and importers as Saudi Arabia raised oil prices for Asian deliveries despite increase in output for the month of August and expectations for an increase of the output in September, Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP, said.