The Indian rupee on Wednesday, Nov 4, slumped to its lowest level in over two months against the UDS Dollar. The dollar index indicating the dollar's strength against a basket of currencies was up 0.39 percent at 93.92.

The domestic currency weakened to 74.81 and was last seen trading at 74.69. On Tuesday, the rupee closed at 74.41 against the US dollar amid a tight election race for the US Presidential position. The financial markets are experiencing bouts of volatility with emerging market currencies being no exception, which was largely trading weaker.

 Meanwhile, the US equity futures, as well as treasuries, advanced as the result of the US election as per early tally are suggested to be closer than what polls estimated. A private survey revealed that India's services sector recorded a spike in activity for the first time in 8 months during the last month as there was stimulation in demand. The Nikkei services sector Purchasing Managers' Index (PMI) came in at 54.1 for the October month as against 49.8 in the previous month.

Meanwhile, Indian benchmark indices are trading a little higher in trade with Sensex up over 72 points to 40334 and Nifty up above 11840 mark, during the mid-noon session, Wednesday.

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