Foreign Currency Loan
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Question
In what manner is it permissible to lend dollars or other foreign currency?
Answer
It is forbidden to lend dollars if the borrower does not have at least one dollar in his possession, as dollars in Israel are considered an object since they are not the currency traded in our country. The same applies to any foreign currency. Therefore, if someone borrowed a dollar when its rate was 3.2 shekels and returned a dollar when its rate was 3.3 shekels, he transgresses the prohibition of interest.
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