Question

The modern currency has no use of its own,then why is it accepted as a medium of exchanges . state one reason

Answer 1

it is authorised by central govt of india and RBI is the authority to certify currency and no one refuse its use in exchange 

Answer 2

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.