Changing a banknote for fewer annas because of a shortage of small change

Question

Because of a shortage of small change, twelve annas (a coin worth 1/16 of a rupee) or fourteen annas are given or taken for a banknote. Is this included in usurious dealing or not, given that by law the value of both — i.e. the banknote and the rupee — is fixed at sixteen annas? What is the ruling of the Sacred Law, and what sin does the one who does this fall into?

Answer

For a banknote, less or more is not permissible; for a rupee, less or more is correct. Between small change and the rupee there is no pure sarf sale; however, if on one side there is pure silver or predominant silver, and on the other side likewise, then equality is a condition; otherwise, with silver and alloy set against silver, or alloy, silver or another metal set against…

Source: Fatawa Mahmudiyya

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