Is it permissible to exchange a commodity for another commodity of the same kind or of a different kind, whether deferred or immediately?

If the two commodities are not from the usurious categories, or if one is usurious and the other is not, it is permissible to exchange them without any reservation, provided that there is no harm or ignorance.

However, if both commodities are usurious: 1. Of the same kind (e.g., gold for gold): Equality and immediate possession ( قبض ) at the time of the contract are required. 2. Of different kinds: If both are from currencies (gold, silver, banknotes): Disparity (in quantity) is permissible, and immediate possession ( قبض ) is required. If both are from foodstuffs (wheat for dates): Disparity is permissible, and immediate possession ( قبض ) is required. If one is from currencies and the other from foodstuffs: Exchange is permissible without requiring equality or immediate possession.

The basis for these rulings is the Hadith of the Prophet, peace and blessings be upon him: "Gold for gold, silver for silver, wheat for wheat, barley for barley, dates for dates, and salt for salt, like for like, equal for equal, hand to hand. If these categories differ, then sell as you wish, provided it is hand to hand."