Karachi: Religious scholar Mufti Taqi Usmani said today that purchasing dollars to hoard for the sake of profit is a ‘grave sin’ and disloyalty to the country in the present economic crisis.

In a social media post, Mufti Usmani said that those who are purchasing dollars for profit and involved in the act of hoarding are ‘cursed by Allah’ as per some narrations of a Hadith.

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. According to some narrations of a Hadith those involved in hoarding are cursed by Allah Taala.

— Muhammad Taqi Usmani (@muftitaqiusmani) May 20, 2019

In the past four business day, the dollar has risen by Rs9.60 against the Pakistani rupee. The US dollar continues its steep incline in Pakistan, reaching a new all-time high in the interbank and open market on Tuesday.

With an increase of Rs1.36, the dollar reached Rs151. In the open market, the rate increased to Rs153.