The rupee recovered from initial losses but was still quoting lower by three paise at 54 rupees 75 paise inlate morning deals on mild dollar demand from banks and importers on the back of firm global cues.The local currency had earlier lost 18 paise to 54 rupees 90 paise in opening trade. Good dollar demand from banks and importers in view of firm dollar overseas market mainly affected the rupee value against the dollar