Also Read - INR to Forex rate today: Rupee gains 14 paise at 66.02 against USD in early trade

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. Also Read - Gold extends gains for 7th day on seasonal demand, global cues

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. Also Read - INR to Rupee forex rates today: Rupee edges up 11 paise against dollar

However, it dropped immediately to 60.