What is the ruling on exchanging ten paper riyals for nine metal riyals?
Machine translationRead the Arabic original
Question:
He asks: Is it permissible to take ten paper riyals in exchange for nine metal riyals, or is this riba (usury or interest)?
Answer:
Exchanging a silver riyal for a number of paper riyals is permissible; there is nothing wrong with it. This falls under the category of currency exchange, where silver is an independent type and paper is another type. Therefore, it is permissible to exchange silver for paper currency at the equivalent price at the time of the exchange.
He asks: Is it permissible to take ten paper riyals in exchange for nine metal riyals, or is this riba (usury or interest)?
Answer:
Exchanging a silver riyal for a number of paper riyals is permissible; there is nothing wrong with it. This falls under the category of currency exchange, where silver is an independent type and paper is another type. Therefore, it is permissible to exchange silver for paper currency at the equivalent price at the time of the exchange.
Source
قناة «العلامة الدكتور صالح الفوزان»، ما حكم أخذ عشر ريالات أوراق مقابل تسع ريالات معدن ؟ الشيخ صالح الفوزان — youtube.com
The Arabic text is a machine transcription of the audio recording.