The Ruling on Buying and Selling Currency
Machine translationRead the Arabic original
Question: Is it permissible for a Muslim to buy dollars or other currencies at a low price, and then sell them after their price rises?
Answer: There is no harm in that, if he buys dollars or any other currency and keeps it with him, then sells it later when its price rises, there is nothing wrong with it. However, he must buy it hand-to-hand, not on credit; he buys dollars for Saudi riyals or Iraqi dinars hand-to-hand. The currency must be exchanged hand-to-hand, just as gold is exchanged for silver hand-to-hand. And Allah is the One to be sought for help.
Answer: There is no harm in that, if he buys dollars or any other currency and keeps it with him, then sells it later when its price rises, there is nothing wrong with it. However, he must buy it hand-to-hand, not on credit; he buys dollars for Saudi riyals or Iraqi dinars hand-to-hand. The currency must be exchanged hand-to-hand, just as gold is exchanged for silver hand-to-hand. And Allah is the One to be sought for help.
Source
binbaz.org.sa
The Arabic text is copied verbatim from the original source, without any edits.