diff --git a/Lib/zipfile.py b/Lib/zipfile.py
index fe012968b37..aa88563e5f1 100644
--- a/Lib/zipfile.py
+++ b/Lib/zipfile.py
@@ -940,7 +940,9 @@ def _extract_member(self, member, targetpath, pwd):
         """
         # build the destination pathname, replacing
         # forward slashes to platform specific separators.
-        if targetpath[-1:] in (os.path.sep, os.path.altsep):
+        # Strip trailing path separator, unless it represents the root.
+        if (targetpath[-1:] in (os.path.sep, os.path.altsep)
+            and len(os.path.splitdrive(targetpath)[1]) > 1):
             targetpath = targetpath[:-1]
 
         # don't include leading "/" from file name if present
diff --git a/Misc/NEWS b/Misc/NEWS
index 03d318d9299..62f2948f872 100644
--- a/Misc/NEWS
+++ b/Misc/NEWS
@@ -36,6 +36,9 @@ Core and Builtins
 Library
 -------
 
+- Issue #5692: In :class:`zipfile.Zipfile`, fix wrong path calculation when
+  extracting a file to the root directory.
+
 - Issue #2245: aifc now skips chunk types it doesn't recognize, per spec.
 
 - Issue #4305: ctypes should now build again on mipsel-linux-gnu