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Fatwas / Sales Fatawa / Changing currencies , gold and silver

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Is it compulsory to change paper money simultaneously, and without any delay when changing similar currencies, or currencies for minerals?

هل يجب الحلول والتقابض في فك العملات الورقية

Answer

All praise is due to Allah. May Allah's peace and blessings be upon our Prophet Muhammad, his family, and all his companions.
To proceed:
The contemporary scholars have differed into three opinions regarding simultaneity and not delaying in changing similar currencies regardless of whether the currency being changed is of smaller denomination like changing a ten riyal note for ten one riyal notes, or two five riyal notes, and so on, or changing the currency to minerals (silver and gold) of a similar value.
Firstly: It is compulsory to achieve simultaneity and not to delay when changing currencies of a similar nature, changing  minerals for minerals, or currency for minerals. This is the opinion of the majority.
Secondly: Simultaneity and not delaying are not compulsory in this issue, rather, it is permissible to delay.  
Thirdly: Simultaneity and not delaying are not compulsory in this issue. However, it is not permissible to delay in this issue. This was the opinion of Shaykh as-Si'di.
The preponderant opinion is that it is not compulsory to achieve simultaneity and not delaying in this issue, and it is permissible to delay.


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