Selling currency at a higher rate

Q: I have an amount of US Dollars which I purchased at R13.50 to a Dollar. Can I sell the Dollars at a higher price than what I paid for? The US Dollar rate as at today is R14.42

A: Yes, it is permissible as long as you fix the rate.

And Allah Ta'ala (الله تعالى) knows best.

Answered by:

Mufti Zakaria Makada

Checked & Approved:

Mufti Ebrahim Salejee (Isipingo Beach)