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Buying And Selling Currency (Dollar)
My question is about buying any currency at low price and waiting util its price goes high and sell it, is it halal to trade currencies for making profit.
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3 Replies
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Buying And Selling Currency (Dollar)
updated 3 years ago
2 Members
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3
Replies
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It is just like buying a thing and then selling it at a higher price for profit, and is therefore lawful.
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Will it not be considered as Hoarding(Zakheera Andozi) , how is it different from storing grain or some other commodity?
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Hoarding is to make a thing unavailable to masses when they need it and their need and demand cause the inflation. In your case, money or dollar does not run short in the market. The fluctuation in the value or rate of the currency involves other factors.
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