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?

Answered by 

Shaykh Ebrahim Desai

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.

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This answer was collected from Askimam.org, which is operated under the supervision of Mufti Ebrahim Desai from South Africa.

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