what is currency ? explain any three features of modern India currency
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Three main features of modern Indian currency: (i) It is used in the form of paper notes and coins. (ii) The modern currency has no use of its own as it is not made up of any precious metals but is accepted as a medium of exchange because it is authorised by the Government of the country.
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A currency is a unit of exchange ,facilating the transfer of goods or services
1.It is authorised by the government of the country.
2.It's demand and supply can be controlled by the central bank of the country .
3.In India, the law legalised the use of rupee as a medium of payment that cannot be refused in setting transactions in India .no individual can legally refuse a payment made in rupees.
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