Is the currency business halaal? Selling one currency for another currency?

Answer

Currency selling is permissible on condition that it is a cash deal. Both currencies must be exchanged in the same session at the time of the deal. Tendering one currency and receiving its exchange at a later date render the deal riba, hence haraam. Any amount of one currency may be exchanged for any amount of the other currency. But the deal must be cash – from hand to hand.