Hakim al-Umma Mawlana Ashraf Ali Thanawi (Allah have mercy on him) said,

‘Keep up with the custom of exchanging gifts.

This practice cleanses the hearts (from misunderstandings and suspicions) and increases mutual love.

Do not consider any gift to be unworthy of being a present. Exchange whatever is available without any formalities.

Taleem ud deen, quoted via Zad us Salikeen, page 359

Karachi