Therefore, in the case of international payments, it has to be first converted into the other country’s currency after this, it can be used in economic transactions. Thus, there is an increase in interdependence among the countries. In today’s world, countries have economic relations with each other. However, a country’s currency cannot be used in another country For example, the Indian rupee (₹) can not be directly acceptable in the USA. For example, the Indian rupee (₹) in India, the Pound (£) in England, and the Dollar ($) in the United States of America. Every nation has a currency that is widely accepted within its boundaries. In a nutshell, it is money issued by governments and accepted for payment in the country. ISRO CS Syllabus for Scientist/Engineer ExamĪ medium of exchange for goods and services is called currency.ISRO CS Original Papers and Official Keys. ![]()
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