Selling currency at a higher rate
Question
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
Answer
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 by
- Mufti Ebrahim Salejee (Isipingo Beach)
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