The rupee pared its initial gainsto trade higher marginally by 3 paise to 55 rupees 55 paise against theAmerican currency in the late morning trade. This follows fresh dollarselling by exporters and some banks amidst firm dollar overseas.The rupee resumed higher at 55.40 per dollar against yesterday's close of 55 rupees 58 paise per dollar at the Interbank Foreign Exchange or Forex Market.In the New York market, the dollar gained ground against the euro yesterday as investors feared that the EuropeanCentral Bank's policy actions this week may not match expectations stirred by ECB President Mario Draghi's declaration.