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| 1. |
Why is modern currency accepted a medium of exchange without any use of its own ? Give reason |
| Answer» 1.Modern currency is authorized by govt. of a country2. In India, the reserve bank of India issue all currency notes on behalf of central govt.3.No other individual or organisation is allowed to issue currency .4.The law legalise the use of rupee as a medium of payment that cannotbbe refused in setting transaction in India.5. No individual in India can legally refuse a payment made in rupees. | |