the reserve Bank of India has authority to decide the value of currency give reasons
Answers
Answer:
The Reserve Bank of India (RBI), headquartered in Mumbai, India, manages currency in India.1 The bank's additional responsibilities include regulating the country's credit systems and using monetary policy to establish financial stability in India. Before 1934, the government of India had the responsibility of printing money. However, RBI was granted its role in currency management on the basis of the Reserve Bank of India Act in 1934. Specifically, Section 22 of the RBI Act gives the bank the authority to issue currency notes.2 The Reserve Bank of India has printing facilities in Dewas, Mysore, and Salboni.3
Answer:
The value of a currency depends on factors that affect the economy such as imports and exports, inflation, employment, interest rates, growth rate, trade deficit, performance of equity markets, foreign exchange reserves, macroeconomic policies, foreign investment inflows, banking capital, commodity prices
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