Indian rupee tumbled against dollar on Wednesday after Finance Minister Nirmala Sitharaman presented the Union Budget for 2023-24. Sentiments were downbeat after report stated that India's manufacturing industry started the year on a weaker note, expanding at the slowest pace in three months in January as output and sales growth slackened. The Manufacturing Purchasing Managers' Index, compiled by S&P Global, fell to 55.4 last month from 57.8 in December. On the global front, dollar edged lower against the euro on Wednesday ahead of an eagerly-awaited Federal Reserve policy decision with investors hoping the U.S. central bank will signal the end of its interest rate hiking cycle.
Finally, the rupee ended at 81.90 (Provisional), weaker by 2 paise from its previous close of 81.88 on Tuesday. The currency touched a high and low of 82.03 and 81.68 respectively.
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