The Ruling on Buying Currencies

Question:
Is buying currencies forbidden or not?

Answer:
No, it is not forbidden; buying currencies is not forbidden, but on the condition that if the currencies are of the same type, the exchange must be equal between the two currencies without any increase, and on the condition of immediate exchange in the meeting place if the currencies are of the same type. In that case, two conditions are required: the first is equality in amount, and the second is immediate exchange in the meeting place. However, if the types of currencies differ, such as exchanging one currency for another, like Saudi riyals for US dollars, for example, then it is permissible to have a difference in value between the two currencies, and immediate exchange in the meeting place is required, based on the saying of the Prophet (peace and blessings be upon him) Yes.