I traveled abroad and exchanged rupees into Euros. When i returned i kept the Euros which was left.

Question ID: 
1919
Za *** asks:

Question

I traveled abroad and exchanged rupees into Euros. When i returned i kept the Euros which was left. I do not remember at what price i bought Euros. If i exchange it now at a different price and get a surplus, will it be considered as interest? Note that i did not keep the Euros as a speculative intention to earn more.

Answer

Assalamualaikum warahmatullah,

It is permissible to sell Euros at a higher or lower price than what you paid for provided that the exchange is between 2 different currencies. That is, you can exchange euros in lieu of rupees for example at any price but you cannot exchange euros for euros at different prices as it is considered as it is a form of interest.

And Allah knows best,

Answered and approved by:
Our panel of Muftis
Jamiatul ulama of Mauritius