Rupee drops by 37 paise vs dollar in late morning trading

December 19, 2013 11:43

The rupee dropped further by 37 paise to 62.46 against the American currency in the late morning trade on persistent dollar demand from banks and importers on the back of higher dollar in the overseas market.

Fears of slow down in the foreign capital inflows into Indian equity market following decision of Federal Open Market Committee on tapering also affected the rupee sentiment, a forex dealer said.

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