Is trading in paper currency (currency exchange) permissible? And is dealing in it contrary to the order of the one in authority?

The questioner : Is it permissible to deal in the black market, meaning in currency exchange, and is dealing in it contrary to the order of the one in authority?

The Shaykh : As for dealing in currency exchange, this is not permissible, neither in the black market nor in the white market; because these paper currencies have no intrinsic value, meaning there is no difference. You must pay attention to this: there is no difference between the exchange now and what it was a year ago, when you would find the doors of the exchangers open, welcoming their customers. This white market has now turned into a black market. At that time, dealing in paper currencies as a trade was not permissible, let alone today.