Dollar lost ground against other currencies on Thursday, after traders reined in bets on an aggressive interest rate climb by the Federal Reserve after softer-than-expected US inflation data the earlier day.
The dollar index continued on the back foot in European trading hours, slipping 0.2% to 105.000, later recording its major daily fall in five months, of 1%, the former day.
Data on Wednesday showed U.S. consumer prices were unaffected in July, month on month, after advancing 1.3% in June.
The rupee climbed by as greatly as Rs4.66 taking down the US dollar’s value to Rs217.25 in the interbank business, but concerning the end of the day the Interbank closing #ExchangeRate for todayhttps://t.co/en7V25AuQb pic.twitter.com/ZPedwd7b8R
The tendency was same in the open market, anywhere the greenback lost two rupees in its value to Rs216.
The Pakistani rupee has sustained its recovery drive in contradiction of the US dollar lost grounds against other main currencies for a seventh consecutive working session in the interbank market.
Read Also: US dollar sustained to shed value beside Rupee
The US dollar lost closely seven percent of its value beside the rupee throughout the last few trading sessions, with the Pakistani rupee creating huge single-day gains beside the US dollar.