The ruling on buying paper currency on credit and selling it for cash for the purpose of tawarruq

The questioner:
Is it permissible to buy a currency, such as a paper British pound or a paper US dollar, on credit and sell it for a lower cash price, for the purpose of tawarruq, and then pay the amount later in riyals?

The Shaykh:
It is not permissible to sell one currency for another on credit; this is riba (usury or interest), specifically riba al-nasi'ah (usury of deferment). It is not permissible to sell one currency for another, whether they are dollars, pounds, dinars, or anything else. It is not permissible to sell currency for currency from any country except for cash, with the exchange taking place in the meeting place, and the parties must not separate without having exchanged the money. Yes.

The presenter:
May Allah reward you.

The Shaykh:
If he wants to perform tawarruq, he should buy a commodity, or buy money, or buy a commodity and sell it. Yes.