Ma`rifat Eqtesadi

Factors such as fixing the nominal exchange rate during inflationary conditions, oil sanctions, reduced interest rates, and speculative behaviors contribute to currency crises, rising inflation, and declining purchasing power of the general population. The current economic structure, intertwined with a culture of speculation, has led to a significant portion of liquidity being accumulated by speculators rather than directed toward productive sectors. These speculative actors, especially in the foreign exchange market, have increased economic risk and disrupted economic activities. This article, using a descriptive-analytical method, explores the causes and consequences of speculation in the currency market, including its impact on the unfair distribution of wealth, and proposes mechanisms to counteract it. The hypothesis of the study is that such unproductive and value-less activities cause economic disorder and hinder the allocation of resources to productive domains, which is not endorsed by Islamic teachings. The conclusion emphasizes that hoarding foreign currency in times of severe currency shortage should be regarded as a criminal phenomenon.