Exchange of Currencies
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The fourth question of Fatwa No. ( 4841 )
Q4: What is the ruling on the exchange of currencies (two different types of currency) in the same market according to agreement, with the currencies in the hands of the people?
A4 : It is permissible to sell some gold for some silver, or some silver for some gold, in unequal amounts, provided that the transaction is immediate and possession is taken in the place of the contract. As for selling gold for gold, silver for silver, or their equivalents, it is permissible only on the condition of immediacy, mutual exchange, and equality.
Q4: What is the ruling on the exchange of currencies (two different types of currency) in the same market according to agreement, with the currencies in the hands of the people?
A4 : It is permissible to sell some gold for some silver, or some silver for some gold, in unequal amounts, provided that the transaction is immediate and possession is taken in the place of the contract. As for selling gold for gold, silver for silver, or their equivalents, it is permissible only on the condition of immediacy, mutual exchange, and equality.
Source
www.alifta.gov.sa
The Arabic text is copied verbatim from the original source, without any edits.