The rupee dropped 14 paise to 62 rupees 28 paise against the US Dollar in late morning trade today on good demand for dollar from banks and importers on the back of its firmness in overseas markets. The Indian currency resumed lower at 62 rupees 40 paise per dollar as against the last closing level of 62 rupees 14 paise at the Interbank Foreign Exchange market. It recovered afterwards to 62.24 per dollar before quoting at 62 rupees 28 paise at 1040 hrs.