The rupee pared its early gains but was still quoted higher by 76 paise to 62.72 per dollar in late morning deals today on selling of the US currency by banks and exporters. The local currency resumed lower at 63.70 per dollar as against the last weekend's level of 63.48 at the Interbank Foreign Exchange (Forex) market.In the global markets, the US dollar traded lower in early trade after former US Treasury Secretary Larry Summers withdrew himself from the race to be the next Federal Reserve chairman.