The Rupee dropped 12 paise to 55.77 rupees against the American currency in late morning trade today on fresh dollar demand from banks and corporates. The rupee depreciated by 27 paise to 55 rupees 92 paise against the dollar in early trade today on stronger dollar against euro and Asian currencies. In yesterday's trade, the domestic currency had ended higher by 35 paise at 55 rupees 65 paise against the dollar