(RTTNews) - The Indian rupee that opened lower against the U.S. dollar on Wednesday reversed its direction shortly and moved sideways in later deals.
In economic news, activity in India's manufacturing sector increased at a slower pace in July, data from a survey by Markit Economics and HSBC Bank showed today.
The seasonally adjusted purchasing managers' index for the manufacturing sector dropped to 52.9 in July from 55 in June.
The rupee is now worth 55.475 per dollar, compared to Tuesday's closing value of 55.6555.
