As a result of strong demand for dollars the US currency hit nearly five-month high at 91.30 in the interbank market on Monday, experts said.0 There were major payments due during the final quarter of the current fiscal year, this was the major factor behind the fall of the rupee, money experts said.
On the other hand foreign exchange reserves are depleting, the State Bank of Pakistan (SBP), it is said, did dollar buying from the interbank market. The amount could be above 50 million dollars and it is most likely that the rupee may breach the level of 91.70 in the near future, they added.
According to the Reuters, in the first Asian trade, euro extended its rebound from last week's four-month low but investors remained concerned over financial turmoil in Greece and Spain, drawing little comfort from a broad G8 pledge to take steps to fight the euro zone's debt crisis.
The common currency rose on short-covering after speculators piled up a record amount of bets against it, according to data from a US financial watchdog released late last week. Interbank buy/sell rates for taka against dollar on Monday: 81.84-81.85 (previous 81.84-81.85) Call Money Rates: 9.00-15.00 percent (previous 9.00-15.00 percent). The yuan edged higher against dollar on Monday on short-covering triggered by the euro's gains, with a stronger midpoint set by the central bank also boosting sentiment, traders said.

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Open Buying     Rs 92.00
Open Selling    Rs 92.20
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Buying          Rs 91.30
Selling         Rs 91.35
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