We discussed the three primary leniencies that will permit a loan of goods despite the chance of the item’s rising in price. 

It’s advisable to understand how these leniencies work, especially since according to some poskim, some of them work only if the parties involved understand the rationale behind them. 

The first leniency, as we explained previously, is if the borrower owns a bit of the item they are borrowing. With respect to foreign currency, if a borrower based in Eretz Yisrael has a dollar in his possession, that will allow him to borrow in dollars, because as soon as the loan goes into effect, the dollar which he owes to his lender is considered the lender’s, and were the dollar to rise in value, it is the lender’s own money that has appreciated.

Here’s a real scenario: A few months ago, a yeshiva borrowed a large quantity of meat from a butcher, promising to repay it right after Sukkos. Due to the war, the price of meat rose. When they consulted with a dayan regarding repayment, he asked if the yeshiva had any meat in stock at the time of the loan, as this would permit the payment of the loan in its entirety. 

Another common instance is when a person traveling from America to Eretz Yisrael wants to borrow shekels to have handy during his trip. If he doesn’t have any shekels this will still be a forbidden loan. 

We mentioned that according to most poskim, having money in the bank does not qualify as owning a bit of the currency in question and therefore does not allow such a loan. (As long as the money is not owned by the borrower there is no lien which can consider the money to be owned by the lender.)

This is particularly relevant to many people in Eretz Yisroel who have foreign bank accounts and may not have any real money in their possession.

We also understand why the item needs to be an item that can be returned to the lender. Only an item that is meant to be returned to the lender can be considered to be owed to him and therefore his right away. As mentioned, this would usually rule out coins in a foreign country, because in a foreign country coins are not an acceptable method of payment.