The rupee dropped further by 37 paise to 62 rupees 46 paise against the American currency in the late morning trade on persistent dollar demand from banks and importers on the back of higher dollar in the overseas market.The rupee resumed lower at 62 rupees 25 paise per dollar as against the last closing level of 62 rupees 09 paise per dollar and dropped further to 62 rupees 47 paise per dollar before quoting at 62 rupees 46 paise per dollar.