Surrendering most of its early gains, the rupee was quoting higher by 5 paise to 54.13 rupees in late morning deals on dollar selling by banks and exporters amid persistent capital inflows from foreign funds. The rupee gained 14 paise to 54.04 rupees against the dollar in early trade. The rupee resumed higher at 54.15 rupees per dollar as against yesterday's closing level of 54.18 rupees.Forex dealers said, weakness of the dollar in the overseas market helped the local currency to appreciate.