At around 3.15 p.m., the rupee traded at 74.80 to a greenback.
US Dollar gaining strength, the Indian rupee saw a decline
The uncertainty regarding the US election outcome impacted the Indian rupee which plunged to its 2-month low mark during Wednesday's trade session.
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Accordingly, the rupee hit an intraday low of 74.88 as the US presidential results might be contested in courts.
At around 3.15 p.m., the rupee traded at 74.80 to a greenback.
"Markets would not like a delayed result, which can lead to prevalence of more risk-off sentiment," Sajal Gupta, Head, Forex and Rates, Edelweiss Securities.
"No matter who wins. Stimulus shall be coming. So expect US dollar to weaken in two weeks time after a clear win."
According to Nish Bhatt, Founder and CEO, Millwood Kane International: "A lack of clarity on the outcome of the US Presidential Election has created a lot of uncertainties."
"Global equity and currency market have reacted according to it. With the US Dollar gaining strength, the Indian rupee saw a decline, as it slipped towards the crucial 75 per US dollar mark."
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