The rupee was down 54.33 against the dollar in noon trade as demand from oil importers saw the rupee slip marginally. The rupee has been trading steady over the last few sessions, despite the fact that FII inflows have slowed.

Dealers say that the currency could continue to remain steady, unless problems in Europe especially following problems in Cyprus accelerate.

Last year the Indian currency was amongst the worst performers in Asia, despite the country receiving sizeable inflows from foreign funds.

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