<p>The Indian rupee dropped to two-week low by slipping 31 paise to 50.70 against the dollar in the late morning trade on sustained demand for the American currency from banks and importers.<br /><br />The rupee resumed lower at 50.50/51 per dollar at the Interbank Foreign Exchange (Forex) market as against the last closing level of 50.39/40 per dollar and declined further to 50.70, before quoting at 50.61/62 per dollar at 1030 hrs.<br /><br />The domestic currency hovered in a range of 50.50 per dollar and 50.70 per dollar during the late morning trade.<br /><br />Persistent dollar demand from banks and importers in view of strong dollar in the international market mainly affected the rupee value against the US currency, a forex dealer said.</p>
<p>The Indian rupee dropped to two-week low by slipping 31 paise to 50.70 against the dollar in the late morning trade on sustained demand for the American currency from banks and importers.<br /><br />The rupee resumed lower at 50.50/51 per dollar at the Interbank Foreign Exchange (Forex) market as against the last closing level of 50.39/40 per dollar and declined further to 50.70, before quoting at 50.61/62 per dollar at 1030 hrs.<br /><br />The domestic currency hovered in a range of 50.50 per dollar and 50.70 per dollar during the late morning trade.<br /><br />Persistent dollar demand from banks and importers in view of strong dollar in the international market mainly affected the rupee value against the US currency, a forex dealer said.</p>