Why the character " Õ " displays "�" when passed in commandline ?

Issue

• Need little assistance as explained below :
• Here is a command that I can run at a Linux prompt, and it all works fine!!!

$ test.sh -t Õ 

• The same command in a .sh file works, but the 'Õ' character is not interpreted properly. The results of each are as follows:
• When submitting at the command line, the output looks like this....

2016-05-16 15:44:22 - Argument Received - t: Õ

• When submitting with the above command in a .sh file, the output looks like this....

2016-05-16 15:38:37 - Argument Received - t �

• Thus, when executing the script, the character is getting converted. The character is represented as an octal '325', hex 'd5', decimal '213'. We are trying to use this character as a delimiter in this process.
• Any recommendations?