<p>The rupee dropped to a nine-month low against the US currency in late morning deals today and was down 18 paise to 62.14 on sustained dollar demand from importers amid strong greenback overseas.<br /><br /></p>.<p>The Indian unit resumed lower at 62.03 per dollar as against the yesterday's closing level of 61.96 at Interbank Foreign Exchange market.<br /><br />Later, it depreciated sharply to a nine-month low at 62.22 before paring some of its losses to quote at 61.14 per dollar at 1030 hours.<br /><br />The rupee hovered in a range of 61.22 and 62.03 per dollar in late morning deals.<br />Strengthening dollar overseas and higher importers' demand weighed heavily on the rupee movement, dealers said.<br /><br />In the New York market, the US dollar was trading strong against its major rivals and the Japanese yen slid to a seven-year low as speculators poured into carry trades funded by a tide of super-cheap liquidity from Bank of Japan.<br /><br />Meanwhile, the benchmark BSE Sensex was trading higher by 25 points, or 0.09 per cent, to 28,057.83 at 1050 hours.</p>
<p>The rupee dropped to a nine-month low against the US currency in late morning deals today and was down 18 paise to 62.14 on sustained dollar demand from importers amid strong greenback overseas.<br /><br /></p>.<p>The Indian unit resumed lower at 62.03 per dollar as against the yesterday's closing level of 61.96 at Interbank Foreign Exchange market.<br /><br />Later, it depreciated sharply to a nine-month low at 62.22 before paring some of its losses to quote at 61.14 per dollar at 1030 hours.<br /><br />The rupee hovered in a range of 61.22 and 62.03 per dollar in late morning deals.<br />Strengthening dollar overseas and higher importers' demand weighed heavily on the rupee movement, dealers said.<br /><br />In the New York market, the US dollar was trading strong against its major rivals and the Japanese yen slid to a seven-year low as speculators poured into carry trades funded by a tide of super-cheap liquidity from Bank of Japan.<br /><br />Meanwhile, the benchmark BSE Sensex was trading higher by 25 points, or 0.09 per cent, to 28,057.83 at 1050 hours.</p>