Economy, asked by takshitjasrotia, 11 hours ago

_______paper money is backed by equivalent
amount of gold and silver

Answers

Answered by pangasunita12

0

answer is Convertible

explanation

Under this, money is convertible into standard coins made of gold or silver. Under it the paper currency issued by the Central Bank was fully backed by the reserves of gold and silver of equal value kept by it.

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