PKR devaluing at 6% annually against USD

Pakistani Rupee (PKR) has been devaluing since creation of Pakistan. In 60’s one USD was around Rs. 4.75. However today one USD is around Rs. 112. The increase in price of dollar is shown in following chart. It is observed that PKR is devaluing at around 6% annually against USD.

Economy

Another way of looking at Riba/Interest.

There are many reasons of riba being haram in Islam. Haram means forbidden. It is highly forbidden in Islam. It is said that being involved in riba means declaring war with Allah and His Prophet (PBUH). Riba means any amount received in excess of original amount lent to a person. That is the simple meaning […]

Islamic finance