What is the ruling on exchanging two different currencies such that one party delivers an amount in a certain currency in one country, and the other party delivers its equivalent in the other currency in a second country to the family of the first deliverer? And is it permissible to settle a debt in local currency to the creditor’s family if the debt was in foreign currency and the conversion rate was agreed upon at the time of the debt?
Selling currencies for each other (exchange) must be hand-to-hand without delay, as stated in the Hadith: "If it is hand to hand, there is no harm; but if it is deferred, it is not permissible," meaning any delay. Some scholars have permitted delay if there is an urgent necessity. Therefore, if I receive dollars from you, their equivalent must be delivered directly to your family.
Summarized from the full answer at Ftawy · reviewed Sep 2, 2026
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