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The rupee dropped further by 23 paise to Rs 45.20/21 against the American currency in the early trade today on persistent dollar demand from banks and importers in view of dollar’s gains overseas amid weak equity markets.
The domestic unit resumed lower at 45.38/39 per dollar at the Interbank Foreign Exchange market against the previous close of 44.97/98 per dollar, and moved down further to 45.40 per dollar before quoting at 45.21/22 per dollar at 10.30 am.
It hovered in a range between Rs 45.18 and Rs 45.40 per dollar during the morning deals.
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