The Pakistani rupee plunged beyond the 299 per USD mark, influenced by a resurgence in USD demand after the easing of import restrictions. The restrictions, established in 2022 to limit outflows from dwindling FX reserves, were removed last month, in line with the stipulations of a USD 3 bln IMF loan designed to aid Pakistan’s struggling economy. Currently, a caretaker regime oversees the nation, guiding it toward an anticipated national election, presumably in November.