86.75: Rupee drops to 5-month low vs dollar

MUMBAI: The rupee weakened to a five-month low on Monday, closing at 86.75 against the dollar, down 26 paise from its previous close of 86.59. The decline mirrored a broader drop in Asian currencies, as investors turned to the greenback amid escalating geopolitical tensions in West Asia.

The rupee is likely to stay in the 86.50-86.90 range in the near term, depending on oil prices. TNN