No harm in changing rupees to dollars for saving

26-4-2016 | IslamWeb

Question:

Assalaamu alaykum. I have some savings in PKR and want to convert it into USD, also for saving. Please guide me and let me know whether it is halal or haram. What is the sharia ruling on this act?

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Answer:

All perfect praise be to Allaah, The Lord of the worlds. I testify that there is none worthy of worship except Allaah and that Muhammad is His slave and Messenger.

There is no harm in buying US dollars in exchange for Pakistan rupees (PKR) for the purpose of saving. Please refer to fatwa 15672 about the conditions for dealing in hard currencies.

Allaah knows best.