Mufti Online — Madrasah Ta'leemuddeen

Is it permissible for me to change my dollars in the black market?

Published as Changing one's dollars on the black market

· 28 Dhuʻl-Qiʻdah 1436 AH1 min readEnglish

Question

I am visiting Argentina for a month. I have come across that the Peso Dollar official rate and black market rate to be very different. The official rate is around 8 pesos while the black market rate is around 15 pesos. Is it permissible for me to change my dollars in the black market? Someone told me that it is not permissible because its a type of riba and cheating and going against the law of the country. Please advise.

Answer

Though it is not haraam, however we discourage this as it has legal implications.

And Allah Ta'ala (الله تعالى) knows best.

Answered by
Mufti Zakaria Makada
Checked & approved by
Mufti Ebrahim Salejee (Isipingo Beach)
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Source: Mufti Online — Madrasah Ta'leemuddeen — https://muftionline.co.za/node/11894
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