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Rupee drops sharply against $

MUMBAI FEB. 24. The rupee declined sharply against the U.S. currency today on fresh month-end dollar demand from corporates and importers at the interbank foreign exchange market.

Closing at 47.7450/7550 a dollar, the rupee lost three paise from last Friday's close of 47.7150/7250 after trading in a range of 47.7000 and 47.7500. It opened, however, on a positive note at 47.7075/7125, supported by healthy weekend dollar supplies.

PTI

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