US dollar increases by Rs2.70 in interbank market

The US dollar on Monday increased by Rs2.70 against the Pakistani rupee in the interbank exchange market, reaching Rs156.58.

As trade commenced, the dollar rose Rs2.70 in the open market, climbing to Rs157 in the open market. 

The rapid spread of the coronavirus infection around the world has had a negative impact on the world economy, creating hindrances for supply chains across the globe. 

The development also comes in the wake of oil prices crashing by 30% due to a disagreement between the cartel of oil producing and exporting countries (OPEC) and Russia on cutting production.