Islamabad, May 7 (Xinhua): Pakistan's central bank said Wednesday it has pumped $6 million in the market through the exchange companies in a bid to hold the sinking rupee.

Syed Wasimuddin, spokesman of the State Bank of Pakistan (SBP), said that $6 million were provided to the 24 'A' class exchange companies Monday and Tuesday.

The Pakistani rupee fell 1.6 percent Wednesday to a record low and has now depreciated 7.9 percent since the beginning of the year.

The rupee closed at 66.45/55 to the dollar.

Analysts say the rupee depreciation is mostly due to galloping imports and diminishing flow of foreign funds.