The rupee gained eight paise to 54.76 per dollar in late morning trade today on persistent selling of the American currency by banks and exporters amidst strong capital inflows into the equity market. The rupee resumed higher at 54.75 per dollar as against yesterday's closing level of 54.84 at the Interbank Foreign Exchange (Forex) Market and improved further to 54.72, before quoting 54.76 against the US currency.It moved in a range of 54.72 and 54.80 per dollar duringmorning trade.Forex dealers said a firm rise in local equities andsluggish dollar overseas also boosted the sentiment in rupee'sfavour.