How is the exchange rate determined for giving Zakat on foreign currencies in local currency? Is it based on the current exchange rate, the average exchange rate throughout the year, the black market rate, or the bank rate?
Source: FtawySummary from Ftawy's records · added here Sep 2, 2026
The basic principle is that should be paid from the asset itself. Paying zakat from the foreign currency itself is more cautious. However, if the zakat payer wishes to pay zakat in another currency, there is no harm, provided that the actual value of the currency at the time of payment is taken into consideration.
Summary from Ftawy's records · added here
Reviewed by El Fatwa's sharia committee.
Read the full answer on Ftawyhttps://ftawy.com/en/questions/48454
Where this answer came from
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- Ftawy
- Original fatwa ID
- 48454
- Added here
- . This is when the answer was added to El Fatwa, not the fatwa's date.
- Text
- Summary from Ftawy's records, reviewed by El Fatwa's sharia committee.
- Read the full ruling
- Read the full answer on Ftawy