The rupee resumed lower at 62.81 per dollar as against the last closing level of 62.56 at the Interbank Foreign Exchange market on initial dollar buying.

However, it trimmed its initial losses and recovered to 62.65 per dollar before quoting at 62.73 at 1045 hours in view of selling of dollars by some banks. It moved in a range of 62.65 and 62.82 per dollar during the late morning deals.

In New York, the dollar dropped to its lowest level against the yen in more than two months on Monday after data showed a sharp slowing in the pace of US manufacturing-sector expansion.

(Agencies)

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