Question: Is it permissible to exchange different currencies on credit?

Answer: It is permissible to exchange two different currencies on credit  provided that the exchange rate is in accordance with the market rate. It cannot be exchanged according any other rate.

For example: R1200 in exchange of $100  payable after three months on the  market rate of Rand to the Dollar. (Contemporary Fatawa by Mufti Taqi Uthmani Pg.141)

And Allah Knows Best

Yusuf Moosagie 

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