Nisaab of Zakaat
Assalam Alaikum… I would like to ask a question regarding nisaab of Zakaat. I calculated using the 1 gram price of silver on internet (0.75) and multiplied it by 612.35 (nisaab of silver) and value came $460.00
However when I received Ramadan calendar from Souther River Masjid, they have stated the nisab value at $417.00
I would like to ask if I had calculated the price incorrectly or if there is any other way calculation or an authentic site for silver price that should be used to get the correct value of Nisaab of Zakaat?
The above Nisab price as was at 10th April 2020. One should consider the Silver price on the day they intend paying their Zakah.
Mufti Shabir Moosa