Rupee down 5 paise against dollar in late morning trade

On September 16, the rupee had gained 4 paise to end at 64.08 against the U.S. dollar. File

The rupee dropped by 5 paise to 64.18 against the American currency in late morning deals on sustained bouts of dollar demand from importers and banks amid choppy domestic equities.

The rupee resumed lower at 64.18 per dollar as against yesterday’s closing level of 64.13 per dollar at the Interbank Foreign Exchange (Forex) Market.

It hovered in a range of 64.21 per dollar and 64.13 per dollar before quoting at 64.18 per dollar at 1135 hrs.

Overseas, the US dollar was largely lower against basket of currencies in early Asian trade, while hovered near an eight—week high against the yen.