Question

Explain the currency authority function of central bank

Answer 1

Answer:

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Activities and responsibilities of the central banks controlling the nation's entire money supply. the Government's banker and the bankers' bank ("lender of last resort") managing the country's foreign exchange and gold reserves and the Government bonds. regulating and supervising the banking industry.

Answer 2

Answer:

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Explanation:

Currency Authority function means that the Central Bank has the sole authority to issue currency. It brings uniformity in note circulation. It also gives power to the Central Bank to directly control money supply

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