Is the money earned on converting dollar into rupees halal, can one keep money in dollars and convert it into rupees when it is profitable?
Question
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Is the money earned on converting dollar into rupees halal, can one keep money in dollars and convert it into rupees when it is profitable?
Answer
It is permissible to earn a profit by exchanging currencies, dollars, etc. on condition both currencies are exchanged at the place of the purchase and sale transaction.
and Allah Ta'ala Knows Best
Mufti Ebrahim Desai
FATWA DEPT.
- Answered by
- Mufti Ebrahim Desai
Where scholars differ, it’s safer to take the more cautious view.
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Source: Darul Iftaa Mahmudiyyah — https://askimam.org/public/question_detail/3112
Fatawa SA: https://fatawa.co.za/fatwa/askimam-3112
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