Eminent Islamic scholar, Mufti Taqi Usmani, on Tuesday, cautioned the nation that hoarding dollars at present to sell them off as the rupee devalues was a grave sin.
Mufti Usmani took to social media to enlighten, “Purchasing dollars to hoard and earn profit by the increase in its price is a grave sin and disloyalty to the country in the present economic situation.”
Quoting “some narrations of a Hadith”, he noted, “those involved in hoarding [dollars] are cursed by Allah.”
Earlier on Tuesday, the US dollar followed a consistently upward trend; touching a record high level of Rs 153 in the open market. The last few weeks witnessed a constant slide down of Pakistani rupee against the greenback.
In the last week alone, the US dollar was recorded at Rs 150 on Friday; Rs 147 on Thursday and Rs 144 on Wednesday.
Given the current dismal scenario, the Federal Investigation Agency (FIA) has also launched a crackdown against dollar hoarders as well as those involved in Hawala Hundi business.
Dollars torched
To record a protest against the continuous devaluation of Pakistani rupee in Interbank and open market, a resident of Gujranwala set a bundle of his US dollars on fire on Tuesday.
As per details, Amjad put a match to the US dollars in his possession to initiate a movement to stabilise Pakistani rupee against the greenback.
He told media sources, “I’m setting my dollars ablaze with an aim to stabilise the country’s economy.”
