The rupee surrendered all its early gains to end the day 3 paise lower at 60.14 against the dollar due to late demand for the US currency from importers.

The fall in the rupee was capped on persistent capital inflows in record making domestic stocks, a forex dealer said.

At the Interbank Foreign Exchange (forex) market, the local unit commenced strong at 59.82 a dollar from previous close of 60.11 and improved further to a high of 59.80 with domestic bourses recording smart gains.

But emergence of dollar demand after mid-session pulled it down to a low of 60.16 before settling at 60.14, a fall of 3 paise from its previous close.

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