The rupee dropped by 11 paise to one-month low against the American currency at 54.33 in late morning trade on sustained dollar demand from banks and importers on the back of a firm greenback in overseas markets.The rupee resumed lower at 54.43 per dollar against the last weekend's level of 54.22 at the Interbank ForeignExchange (Forex) market and hovered in a range of 54.32 and 54.44 before quoting at 54.33 per dollar at 1040 hrs.Persistent dollar demand from banks and importers on the back of a firm dollar in overseas markets mainly affected the rupee value.