The Indian rupee weakened by 10 paise to close at a record low of 85.12 against the US dollar on Monday.
Brent crude rose 0.41% to $73.24 per barrel, supported by easing concerns over a US government shutdown and a softer US Personal Consumption Expenditures price index.
Exporters advised to hold back on selling dollars, while importers are advised to utilize dips in the rupee's value to meet their dollar requirements.
The dollar-rupee pair is expected to trade within a range of 84.90 to 85.10.