The rupee was trading lower by 18 paise at 55 rupees 29 paise against the American currency in the late morning trade on fresh dollar demand from banks and importers.The rupee had resumed higher at 55 per dollar against dollar at the Interbank Foreign Exchange market on the back of persistent capital inflows from foreign funds into the equity market. However, it dropped to 55 rupees 29 pasie at 1050 hrs on sudden dollar demand from banks and importers. It hovered in a range of 55 rupees 2 paise and 55 rupees 29 paise during the morning deals.