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Rupee drops 21 paise

MUMBAI: The rupee on Tuesday declined by 21 paise to close at 45.23/24 a dollar due to renewed hectic dollar demand, mainly from state-run banks amid a slight dollar rebound overseas and halted a seven session sharp rally that took it to two-month peak. Despite worries over IMD outflows, market sentiment remained bullish on heavy FII inflows.

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