The rupee depreciated 22 paise and fell below 86 level to close at 86.02 (provisional) against the US dollar on Monday amid a rise in global crude oil prices and a strengthening greenback.
Foreign fund outflows and delay in any breakthrough in the India-US trade deal further pressured the local unit, according to forex traders.
At the interbank foreign exchange, the local unit opened at 85.96 and traded in a narrow range of 85.92-86.05 before settling at 86.02 (provisional), down 22 paise from its previous close.
The rupee depreciated 10 paise to close at 85.80 against the US dollar on Friday. -- PTI