Selling currency at a higher rate

Answered according to Hanafi Fiqh by Muftionline.co.za

Q: I have an amount of US Dollars which I purchased at R13.50 to a Dollar. Can I sell the Dollars at a higher price than what I paid for? The US Dollar rate as at today is R14.42

Bismillaah

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A: Yes, it is permissible as long as you fix the rate.

And Allah Ta’ala (الله تعالى) knows best.

 

Answered by:

Mufti Zakaria Makada

Checked & Approved:

Mufti Ebrahim Salejee (Isipingo Beach)

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