exchanging Rupees with Dollars

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.