Rupee down five paise against dollar

Mumbai, Jun 26: The rupee dropped five paise to 60.17 against the American currency in morning trade today on fresh demand for the dollar from banks and importers despite the US unit’s weakness in the overseas markets.

The rupee resumed slightly higher at 60.10 per dollar as against the last closing level of 60.12 at the Interbank Foreign Exchange (Forex) market on initial selling of the American currency by banks.

However, it dropped immediately to 60.