Mumbai, Sep 30 : The Rupee on Monday dropped by 31 paise to 70.87 against the US Dollar on rising demand for US Dollar by bankers and importers, dealers at the Forex Market.
In the opening trade, the local unit rose by 14 paise to 70.42. Later, it erased earlier gain and tumbled down 31 paise, to settle at 70.87, from its last close.
The Indian currency went heavily down because of firm Dollar against other world currencies, along with negative stock market, they added. (UNI)