The Pakistani rupee has hit a record low against the USD, breaching the 300-rupee mark. Analysts attribute this to the IMF’s policies that limit governmental intervention in the exchange rate. According to the central bank’s deputy governor, the rupee’s depreciation is mainly due to heightened public demand for USD and the lifting of import restrictions. Meanwhile, Pakistan’s FX reserves shrank by USD 125 mln to approximately USD 7.9 bln, mainly owing to debt repayments.