The rupee pared earlier losses to trade at 54.345/350 rupees, just above the Tuesday's close of 54.365/375 on dollar sales by exporters. Markets were closed on Wednesday for a public holiday. The rupee touched a session low of 54.48 earlier in the day, tracking a weaker euro. Exporters sold dollars at around 54.57 levels, traders said, but oil importers' dollar demand prevented a further fall.

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