Currency exchange from one country to another
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The fifth question of Fatwa No. ( 4909 )
Q5: Is it permissible to deal in foreign currency exchange, converting currency from one country to another, such that its value in one country is a certain number of dinars, but in the other country it is much higher or lower? The Muslim traveler must necessarily exchange his money according to the currency of the country he is heading to in order to manage his affairs, especially during the Hajj season or outside of it, or if the travel is for vacation or recreation?
A5 : It is permissible to exchange currency from one country to another, even if its price is higher in the other country, provided that the type of currency is different. However, if the type is the same, it is not permissible except in equal amounts. And success is from Allah, and may Allah send prayers and blessings upon our Prophet Muhammad, his family, and his Companions.
Q5: Is it permissible to deal in foreign currency exchange, converting currency from one country to another, such that its value in one country is a certain number of dinars, but in the other country it is much higher or lower? The Muslim traveler must necessarily exchange his money according to the currency of the country he is heading to in order to manage his affairs, especially during the Hajj season or outside of it, or if the travel is for vacation or recreation?
A5 : It is permissible to exchange currency from one country to another, even if its price is higher in the other country, provided that the type of currency is different. However, if the type is the same, it is not permissible except in equal amounts. And success is from Allah, and may Allah send prayers and blessings upon our Prophet Muhammad, his family, and his Companions.
Source
www.alifta.gov.sa
The Arabic text is copied verbatim from the original source, without any edits.