Snapping its three-day winning spree, the rupee lowered by 34 paise at 61.78 rupees in late morning trade today. The fall attributed to renewed dollar demand from banks and importers amid its higher value overseas. It dropped further to 61.85 rupees before quoting 61.78 rupees per dollar. It moved in a range of 61.50 and 61.85 rupees per dollar during the morning deals.