ISLAMABAD -;The US dollar has surged by Rs2.70 against the Pakistani rupeein the inter bank exchange market, reaching Rs156.58 here on Monday.
According to the details, when trade started today the rate of dollar roseRs2.70 in the open market, reaching to Rs157 in the open market.
The rapid spread of the coronavirus infection around the world has had anegative impact on the world economy, creating hindrances for supply chainsacross the globe.
Gold prices in the local market have also seen a rise of Rs 500 per tolaon Monday, Bol News reported.
According to the details, Chairman Jewelers Association Mohammad Arshadsaid in his statement that after the increase in the price of gold inPakistan, gold per tola rose by Rs 500 to Rs 95 thousand 200 while tengrams of gold increased by Rs 600 to 81.
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According to international news agency Reuters, Spot gold increased 0.7pcto $1,686.22 per ounce by 0325 GMT, having touched its highest sinceDecember 2012 at $1,702.56 earlier in the session. U.S. gold futures gained0.9pc to $1,687.80 per ounce.
Jaffrey Halley, a senior analyst at OANDA, said, “It is a massive flight tosafety as the Chinese trade data was really bad, much worse than expected,Italy quarantined a quarter of their population (due to the coronavirus)and stock markets are down,”
International news reported that China’s trade and economies has beeninfluenced badly since the outbreak. Virus has disrupted economy, globalsupply chains and business operations.link
