Indian rupee drops by 7 paise to Rs 68.23 on Monday against US dollar in spite of high domestic equities.
On Monday, the rupee was noticed higher at 68.13 against dollar at the Interank Foreign Exchange (Forex) market.
During the morning offers, the rupee hovered in the range of 68.24 to 68.09 per dollar. Currently, the dollar Index is trading down by 0.01 percent at 100.87 against six currencies.
In Asian Trade, US dollar took a breather against basket currencies while the inflation was noticed higher. On BSE, the Indian Rupee was trading higher by 83.75 points or 0.33 per cent at 25,848.89.