AskImamDarul Iftaa Mahmudiyyah (AskImam)
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
The question text was not published separately; the title stands in for it.
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
Fatawa SA is an independent, read-only index of fatawa already published by Darul Iftaa Mahmudiyyah (AskImam). It is not a fatwa service. For your own situation, ask the issuing Darul Ifta directly.