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| 1. |
Explain the meaning Of currency |
| Answer» In the historical period coins of precious metals started getting used as medium of exchange and this was the birth of money. As precious metals were difficult to procure, so slowly paper money or currency notes began to replace them.\xa0Now the government or government authorized body in a country issues currency notes for circulation.In India, the Reserve Bank of India issues currency notes. On the currency note you can observe the statement promising a particular amount to be paid to the bearer of the currency note.Money removed the coincidence of wants factor and smoothens the exchange facilitating economic activity. | |