The Indian rupee dropped by 8 paise to 63.33 against the American currency in late morning trade. This followed mild dollar demand from banks and importers on the back of higher dollar in overseas market.The rupee resumed lower at 63.45 per dollar this morning and yesterday it closed at 63.25.It recovered sharply to 63.10 per dollar following dollar selling by banks. However, fresh demand from importers once again weighed on rupee which quoted at 63.33 per dollar when the reprts last came in.In the global market, the American currency advanced against most key rivals in early trade, ahead of Federal Reserve meeting minutes that may shed more light on the timing of an expected reduction in monetary stimulus.