Q 4: What is the ruling on
exchanging currencies
(of different types) on the spot while both parties are present and they agree on the price?
A:
It is permissible to sell gold to be paid for by silver and vice versa with different amounts if both currencies are present and the exchange takes place on the spot. Selling gold for gold, silver for silver, and the like is permissible provided that both are present at the time of sale, the exchange takes place on the spot, and both are equal in amount.
May Allah grant us success. May peace and blessings be upon our Prophet Muhammad, his family, and Companions.
Quran
Quran
Quran Reciters
fiqh
Doctrine and Tawhid
Know about Islam
Exchanging the local...
