Question

modern currency is without any use of its own then why is it acceptable as a medium of exchange​

Answer 1

Modern currency is accepted as a medium of exchange:

1. Modern currency is accepted as a medium of exchange because it is authorized by the central government of a country.

2. In India, RBI issues the currency notes and it is illegal for any other organization or individual to issue the currency.

3. The rupee cannot be refused legally as a medium of payment in India.