Rupee drops 31 paise vs dollar in late morning trade
The rupee dropped by 31 paise to 55.01 against the dollar in late morning trade today on fresh demand of the American currency from banks and importers.
The rupee on Tuesday fell marginally by 4 paise to trade at fresh one-week low of 53.95 against the US dollar in early trade on the Interbank Foreign Exchange due to appreciation of the American currency against the euro overseas and a weak opening in the domestic equity market.