Knowledge, Information and Experience
The history of money concerns the development of means of carrying out transactions involving a medium of exchange. Money is any clearly identifiable object of value that is generally accepted as payment for goods and services and repayment of debts within a market, or which is legal tender within a country. it is to traced about the true origin of the invention of money was a transition from a “barter system” to a “monetary system”.
For centuries, the currencies of the world were backed by gold. That is, a piece of paper currency issued by any world government represented a real amount of gold held in a vault by that government. At the time of independence the value of Indian Rupee was 1 Rs = 1 $. During that time, as mentioned above, currency exchange was based on the gold standard. The forces of demand and supply have so far lead to the reduction in the value of INR.
Currency devaluations can be used by countries to achieve economic policy. Having a weaker currency relative to the rest of the world can help boost exports, shrink trade deficits and reduce the cost of interest payments on its outstanding government debts.
Currency devaluations can be used by countries (like japan) to achieve economic policy. Having a weaker currency relative to the rest of the world can help boost exports, shrink trade deficits and reduce the cost of interest payments on its outstanding government debts.
In the recent past people have come across to realise the importance of digital payment method. With demonetisation implemented in the country, all the lazy lads have come across a reality check. People who were thinking that their money is secure at their place had to face a tough time. But with all this going on in the country, almost everyone realised the best way to get out of the trouble is opting for the digital payment method. And we all know for this what is best in the market, Paytm. Let me tell you why cashless society is need of the hour. Digital Wallets, specially Paytm offers so much better offers, cash backs and easy transaction in almost every field of business, be it railway tickets, flight tickets, movie tickets, online shopping and many more.
Digital currency (digital money or electronic money or electronic currency) is a type of currency available only in digital form, not in physical (such as banknotes and coins). It exhibits properties similar to physical currencies, but allows for instantaneous transactions and borderless transfer-of-ownership. Examples include virtual currencies and cryptocurrencies like BITCOIN. Like traditional money, these currencies may be used to buy physical goods and services which is picking up now.
