The rupee on Thursday dropped 17 paise to 60.31 per dollar on month-end demand for the US currency from importers, triggered by its firm value overseas.
However, sustained foreign capital inflows into equity market restricted the rupee's fall, forex dealers said.
The rupee resumed lower at 60.21 per dollar as against yesterday's closing level of 60.14 at the Interbank Foreign Exchange (Forex) Market.
It hovered in a range of 60.33-60.12 per dollar before ending at 60.31.
The month-end dollar demand from importers, mainly oil refiners, affected the value of rupee against the American currency, dealers said.
