modern currency is without any use of its own then why is it acceptable as a medium of exchange
Answers
Answered by
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.
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.
Similar questions