Business Studies, asked by Ruthwik95861, 9 months ago

Describe briefly about money used in india

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Answered by princesskajal

Answer:

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Explanation:

Officially, the Indian rupee has a market-set exchange rate. However, the RBI trades actively in the USD/INR currency market to impact effective exchange rates. Thus, the currency regime in place for the Indian rupee with respect to the US dollar is a de facto controlled exchange rate.In India, presently, there are paper currencies that are issued in the denominations of 5, 10, 20, 50, 100, 200, 500, and 2000. Due to the demonetization effect, the thousand rupee denomination currency is not a legal tender, along with the old 500 rupee denomination.The Indian rupee (sign: ₹; code: INR) is the official currency of India.

Answered by siddhichaurasia

Answer:

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Explanation:

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