Question

Why rupee is widely accepted as a medium of exchange in india

Answer 1

The rupee is accepted in India in exchange for goods and services because:

• The government of India has authorized it as an Indian currency.

• As per the laws, the rupee is used as a medium to make the payment in exchange for services that cannot be refused during the transaction in a country.

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Answer 2

Answer:

Rupee is accepted as a medium of exchange in India, because the government of India has authorized it. The law legalises the use of rupee to settle transactions across the country and that no individual in the country can legally refuse a payment made in rupees.

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