Question Summary:
exchanging Rupees with Dollars

Question Detail:

I want to ask if I exchange Rupees with Dollars and keep them until the price of Dollar goes up and when the price of Dollar goes up I exchange Dollars into Rupees and earn profit, Is it Halal?

Answer :

In the Name of Allah, the Most Gracious, the Most Merciful.

As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh.

According to our understanding, you buy dollars in exchange of rupees at a cheaper rate and after taking possession of the dollars you sell it later at a higher rate.

If our understanding is correct, then it will be permissible to exchange rupees for dollars and vice versa. ⁽¹⁾

And Allah Ta’āla Knows Best

Anas Sharieff Qasmi

Student Darul Iftaa

Hyderabad, India

Checked and Approved by,

Mufti Ebrahim Desai.

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