Question

What are different forms of modern currency

Answer 1

Heyaa...

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Modern forms of currency include..

NOTES & COINS...

Modern forms of money include currency — paper notes and coins. Unlike the things that were used asmoney earlier, modern currency is not made of precious metal such as gold, silver and copper. Unlike grain and cattle, they are neither of everyday use. The modern currency is without any use of its own.

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@Rêyaañ11

Answer 2

In the modern monetary systems, there are three forms of money in actual use: (i) Metallic Money, (ii) Paper Money, and (iii) Credit Money.

The first two kinds of money are in the form of currency money and the last one is credit or bank money.

Metallic Money:

Metallic money refers to coins made out of various metals like gold, silver, bronze, nickel, etc.

Paper Money:

Paper money consists of currency notes issued by the State Treasury or the Central Bank of the country.

Credit Money:

In modern economic societies, with the development of banking activity, along with paper money, another form of convertible money has developed in the form of credit money or bank money.