Indian Rupee ended higher against the US dollar on Wednesday tracking the weakness of the American currency in the overseas market. Sentiments were upbeat after data released by S&P Global showed that India's services sector surged in April as the sector's Purchasing Managers' Index (PMI) jumped to 62.0 from 57.8 in March. At 62.0, the services PMI is the highest in nearly 13 years. It has stayed above the key level of 50 that separates expansion in activity from a contraction for 21 months in a row. On the global front, Russian rouble climbed near to a one-month high against a globally weaker U.S. dollar on Wednesday, brushing aside a slide in oil prices as traders awaited two government debt auctions. Dollar fell on Wednesday, ahead of an expected rise in U.S. interest rates, and as gloomy jobs data, a standoff over the U.S. debt ceiling and nervousness following banking collapses clouded the investment outlook.
Finally, the rupee ended at 81.81 (Provisional), stronger by 6 paise from its previous close of 81.87 on Tuesday. The currency touched a high and low of 81.86 and 81.75 respectively.