Question

What are the modern forms of money? Why is the rupee widely accepted as a medium of exchange? explain two reasons?

Answer 1

Money is actively evolving to better stages .For instance  money has been used to express double coincidence for it to be used as a mean of exchange .

The current and modern means of transport are more sophisticated .There has been introduction of virtual money that cannot be touched and seen but can be used .Such currencies are called concurrency , for example  the bitcoin and many  more have carried the  the online market .Such currencies are international accepted though pausing a major threat to major currencies such as the euro.

The  Indian rupee is international accepted since India has conformed with the policies of the international monetary fund .